JPMorgan analysts are offering a fresh perspective on managing market volatility: betting on <a href="https://www.benzinga.com/topic/vix">the VIX (volatility index)</a> while trimming downside hedges on the SPDR S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>). Here's what they're suggesting and why.



<h2 class="wp-block-heading">Elevated SPY Skew Reflects Investor Caution</h2>



The S&amp;P 500&#8217;s options market has been buzzing as investors brace for uncertainties like recession fears and conflicting signals from central banks, particularly the Federal Reserve and the Bank of Japan. This demand for protection has made SPY put options pricey, with their skew—a measure of demand for downside protection—hitting elevated levels.



Read Also: <a href="https://www.benzinga.com/24/11/42210528/us-stock-futures-signal-a-muted-open-smallcaps-may-advance-analyst-flags-cross-asset-volatility">Major US Stock Futures Slide, Small-Caps Buck Trend: Market Strategist Flags This As The &#8216;Stronger Times Of The Year For Stocks&#8217;</a>



<h2 class="wp-block-heading">VIX Calls: A Cheaper Hedge Against Market Swings</h2>



Meanwhile, the VIX, often called the "fear gauge," has seen its call options gain popularity as investors see their relative value.



Compared to the expensive SPY puts, VIX calls appear cheaper while offering a way to hedge against market swings.



<h2 class="wp-block-heading">JPMorgan's Strategy: Balance Risk &amp; Cost</h2>



JPMorgan analysts argue this divergence presents a golden opportunity. Their trade idea? 



Go "long" on VIX calls—essentially betting on market volatility increasing—while going "short" on SPY puts to take advantage of their inflated pricing. 



This approach balances the premium costs and offers a smart hedge if the markets turn turbulent.



<h2 class="wp-block-heading">Why It Matters</h2>



In simple terms, the analysts believe this strategy lets investors stay prepared for market shocks without overpaying for protection. The setup is designed to be premium-neutral, meaning no additional upfront costs, while targeting a sweet spot in relative value.



As market dynamics evolve, this trade might appeal to those who want to play the volatility game smartly. But as with any market bet, timing and risk tolerance will be key.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/24/11/42210528/us-stock-futures-signal-a-muted-open-smallcaps-may-advance-analyst-flags-cross-asset-volatility">Dollar, Treasury Yields, Stocks Fall In Tandem After October Inflation Uptick</a></li>
</ul>



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JPMorgan's Volatility Play: Long VIX Calls, Short SPY Puts

Cryptocurrency markets are trading higher on Wednesday, with Bitcoin surging back above the $96,000 mark.



<figure class="wp-block-table"><table><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;&nbsp;</td><td>Gains +/-</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>&nbsp;$96,719.50</td><td>+5.3%</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>&nbsp;$3,599.43</td><td>+8.8%</td></tr><tr><td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td><td>&nbsp;$239.41</td><td>+4.5%</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>&nbsp;$0.4042</td><td>+6.6%</td></tr><tr><td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>&nbsp;$0.00002545</td><td>+5.7%</td></tr></tbody></table></figure>



Notable Statistics:



<ul>
<li>IntoTheBlock data shows large transaction volume decreasing by 7.4% and daily active addresses falling by 15%. Transactions greater than $100,000 are down from 13,037 to 12,877 in a single day. Exchanges netflows are up by 43.1%.</li>



<li>Coinglass data reports 88,921 traders were liquidated in the past 24 hours for $243.79 million. Crypto long liquidations at $66.6 million are at the lowest since Nov. 5.</li>
</ul>



Notable Developments:



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42220218/ripple-to-invest-in-rebranded-xrp-exchange-traded-product-by-bitwise">Ripple To Invest In Rebranded XRP Exchange-Traded Product By Bitwise</a></li>



<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42221726/crypto-dad-chris-giancarlo-advocates-for-passing-crypto-regulation-from-the-sec-to-another-commission-heres-why">&#8216;Crypto Dad&#8217; Chris Giancarlo Advocates For Passing Crypto Regulation From The SEC To Another Commission — Here&#8217;s Why</a></li>



<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42216782/long-term-bitcoin-holders-lock-in-202-billion-in-daily-realized-profits-setting-a-new-record">Long-Term Bitcoin Holders Locking In $2.02 Billion In Daily Realized Profits, Setting A New Record</a></li>



<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42221293/donald-trump-eyes-former-sec-comissioner-paul-atkins-as-gary-genslers-successor">Donald Trump Eyes Former SEC Comissioner Paul Atkins As Gary Gensler&#8217;s Successor</a></li>



<li><a href="https://www.benzinga.com/markets/equities/24/11/42208970/microstrategy-linked-etfs-skyrocket-400-this-year-is-this-the-michael-saylor-effect">MicroStrategy-Linked ETFs Skyrocket 400% This Year: Is This &#8216;The Michael Saylor Effect&#8217;?</a></li>



<li><a href="https://www.benzinga.com/government/regulations/24/11/42206456/trump-administration-to-reportedly-let-cftc-regulate-bitcoin-ethereum-spot-market-is-the-sec-set-to-lose-its-grip-over-crypto">Trump Administration To Reportedly Let CFTC Regulate Bitcoin, Ethereum Spot Market, Is The SEC Set To Lose Its Grip Over Crypto?</a></li>
</ul>



Top Gainers:



<figure class="wp-block-table"><table><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;&nbsp;</td><td>Gains +/-</td></tr><tr><td>Uniswap (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/uni/usd">UNI</a>)</td><td>&nbsp;$13.24</td><td>+24.2%</td></tr><tr><td>Ethena (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">ENA</a>)</td><td>&nbsp;$0.7053</td><td>+18.9%</td></tr><tr><td>Aave (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/aave/usd">AAVE</a>)</td><td>&nbsp;$201.37</td><td>+17.2%</td></tr></tbody></table></figure>



Trader Notes: With Bitcoin prices picking up steam, CryptoQuant&#8217;s Head of Research sees a demand expansion driving Bitcoin higher.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Bitcoin demand growth is accelerating again after the recent price correction. Demand expansion is what will get Bitcoin higher. <a href="https://t.co/JKKzzgDxiZ">pic.twitter.com/JKKzzgDxiZ</a>&mdash; Julio Moreno (@jjcmoreno) <a href="https://twitter.com/jjcmoreno/status/1861824569201275076?ref_src=twsrc%5Etfw">November 27, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



More Crypto Online <a href="https://x.com/Morecryptoonl/status/1861817605272592668">sees</a> the price of Bitcoin having reached the first target of a bullish pattern at $96,046.



Crypto trader Astronomer Zero sees a familiar pattern playing out, saying, "Buy the fear, sell the greed, rinse and repeat."



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> Everyone wanted lower, so we longed for higher &#x1f4b8; And there it is, the price push straight into our asks. As promised, we set bids, called for a local range to form, and then for a push up. And it&#39;s all happening. Buy the fear, sell the greed, rinse and repeat. &#x267b;&#xFE0F; All… <a href="https://t.co/MdOhn2x145">https://t.co/MdOhn2x145</a> <a href="https://t.co/dsUAce2Fmw">pic.twitter.com/dsUAce2Fmw</a>&mdash; Astronomer (@astronomer_zero) <a href="https://twitter.com/astronomer_zero/status/1861847133793788239?ref_src=twsrc%5Etfw">November 27, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42214467/bitcoins-2020-thanksgiving-massacre-to-repeat-or-is-the-holiday-a-turning-point-for-new-highs">Bitcoin&#8217;s 2020 &#8216;Thanksgiving Massacre&#8217; To Repeat Or Is The Holiday A &#8216;Turning Point For New Highs&#8217;?</a></li>
</ul>

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Bitcoin, Ethereum, Dogecoin Heat Up In Pre-Thanksgiving Rally: 'Buy The Fear, Sell The Greed, Rinse And Repeat,' Says Trader

Thanksgiving, a time for gratitude and familial gatherings, often brings its own set of stresses and strains. Back in 2015, <a href="http://benzinga.com/cannabis">cannabis</a> was harder to access due to more restrictive laws. That year, Benzinga editor <a href="https://www.benzinga.com/author/maureen-meehan">Maureen Meehan</a> wrote an <a href="https://hightimes.com/health/science/5-scientific-benefits-to-smoking-pot-on-thanksgiving">article</a> for High Times magazine spotlighting how cannabis could take the edge off holiday chaos.



Nearly a decade later, with cannabis now mainstream in much of the U.S., we're revisiting and expanding her list to explore how this versatile plant can scientifically improve your Thanksgiving experience.



Here are 10 science-backed reasons why cannabis might just be the ultimate holiday companion:



<h3 class="wp-block-heading">1. Stimulates Appetite And Enhances Taste</h3>



Cannabis is known to trigger the munchies. A 2014 <a href="https://www.smithsonianmag.com/science-nature/scientific-explanation-how-marijuana-causes-munchies-180949660/?utm_source=chatgpt.com">study</a> found that THC, the primary psychoactive component, enhances the sense of smell and taste, leading to increased appetite—perfect for enjoying the Thanksgiving feast.



<h3 class="wp-block-heading">2. Improves Social Bonding</h3>



The &#8220;love hormone&#8221; oxytocin is associated with social bonding. A <a href="https://pmc.ncbi.nlm.nih.gov/articles/PMC4653148/">study</a> from the University of California Irvine discovered that cannabinoids interact with the same brain areas as oxytocin, potentially improving interpersonal connections during family gatherings.



<h3 class="wp-block-heading">3. Aids Digestive Health</h3>



Cannabis has protective effects on the stomach lining. A 2013 <a href="https://www.sciencedirect.com/science/article/abs/pii/S0163782711000026?via%3Dihub">study</a> published in the Journal of Physiology and Pharmacology indicated that cannabinoids could help manage digestive disorders, reducing discomfort after a heavy meal.



<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.</li>
</ul>



<h3 class="wp-block-heading">4. Reduces Anxiety</h3>



Feeling stressed about family interactions? <a href="https://www.sciencedaily.com/releases/2014/03/140306142803.htm">Research</a> from Vanderbilt University suggests that boosting the body&#8217;s natural cannabinoid levels with cannabis can alleviate anxiety, helping you stay calm during tense moments.



<h3 class="wp-block-heading">5. Safer Alternative To Alcohol</h3>



Cannabis is considered <a href="https://www.benzinga.com/markets/cannabis/23/11/35943879/cannabis-vs-alcohol-which-is-preferable-for-better-sleep-among-those-suffering-from-anxiety">safer than alcohol</a>, especially <a href="https://www.benzinga.com/markets/cannabis/24/02/36969871/is-weed-worse-than-alcohol-for-driving-new-study-challenges-common-dui-assumptions">when it comes to driving</a> and avoiding hangovers. Opting for cannabis over that extra glass of wine might make for a clearer morning after.



Read Also: <a href="https://www.benzinga.com/government/regulations/24/11/42173811/hemp-and-thanksgiving-from-the-mayflower-to-independence-the-crop-that-helped-build-a-nation">Hemp And Thanksgiving: From The Mayflower To Independence, The Crop That Helped Build A Nation</a>



<h3 class="wp-block-heading">6. Provides Pain Relief</h3>



A large-scale Canadian study found that <a href="https://www.benzinga.com/markets/cannabis/24/01/36578723/huge-study-reveals-cannabis-provides-similar-pain-relief-benefits-as-opioids-without-negative-co">cannabis offers similar pain relief benefits as opioids</a> but without the negative consequences like respiratory depression. This could be beneficial for managing chronic pain during the holidays.



<h3 class="wp-block-heading">7. Boosts Mental Capacity</h3>



Research from the University of Bonn suggests that low doses of THC may reverse brain aging and <a href="https://www.benzinga.com/markets/cannabis/24/08/40536603/can-thc-turn-back-the-clock-cannabis-reverses-brain-aging-boosts-mental-capacity-new-study-sugge">enhance cognitive functions</a>. This could keep conversations lively and engaging at the dinner table.



<h3 class="wp-block-heading">8. Reduces Inflammation</h3>



A study co-published by Gb Sciences (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GBLX#OTC">GBLX</a>) demonstrated that certain cannabinoids and terpenes in cannabis <a href="https://www.benzinga.com/markets/cannabis/22/11/29510362/cannabis-terpenes-reduce-inflammation-says-gb-sciences-study">have anti-inflammatory properties</a>. This might help alleviate minor aches or discomfort from long hours of preparation and socializing.



<h3 class="wp-block-heading">9. Improves Sleep Quality</h3>



Struggling with sleep after the festivities? Recent research from Washington State University found that over 80% of cannabis users replaced over-the-counter or prescription sleep aids with cannabis. Strains high in THC, CBD and myrcene <a href="https://www.benzinga.com/markets/cannabis/23/11/35952698/cannabis-users-ditch-conventional-sleep-aids-for-natural-remedy-new-study-finds">can improve sleep duration</a>, helping you wake up refreshed.



<h3 class="wp-block-heading">10. Elevates Mood Without Affecting Creativity</h3>



While cannabis may not boost creativity, a study from the University of Washington found that <a href="https://www.benzinga.com/markets/cannabis/23/04/31948043/cannabis-does-not-make-you-more-creative-concludes-study-more-cheerful-yes">it can improve mood</a>. A happier mindset can contribute to a more enjoyable holiday experience for everyone involved.



As always, <a href="https://www.benzinga.com/news/legal/24/11/42177984/joe-biden-how-about-pardoning-non-violent-cannabis-prisoners-along-with-those-thanksgiving-turkeys">consume responsibly</a> and be mindful of local laws and regulations. Enjoy a happier, healthier and more connected celebration.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/09/41054426/top-10-cannabis-harm-reduction-tips-for-safer-use-and-better-experiences">Top 10 Cannabis Harm Reduction Tips For Safer Use And Better Experiences</a></li>
</ul>



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Cannabis On Thanksgiving: 10 Science-Backed Benefits For A Happier Holiday

The trade relationship between the U.S. and Mexico, America's top trading partner in 2023, entered a <a href="https://www.benzinga.com/news/econ-s">new phase of tension.</a>



President-elect Donald Trump's recent pledge to impose 25% tariffs on all imports from Mexico and Canada, as soon as he returns to the Oval Office in January, has sent ripples through currency markets and put significant downward pressure on both the Mexican peso (MXN) <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42202496/goldman-sachs-expects-major-selloffs-in-canadian-dollar-mexican-peso-says-trump-tariffs-threaten-usmca-agreement">and Canadian dollar (CAD). </a>



The Mexican currency weakened to levels last seen in August 2022, with the USD/MXN exchange rate eyeing the sixth week of gains in the last seven in response to escalating trade concerns. 



Market jitters were amplified by Mexico's potential retaliatory measures, which could disrupt the deeply interconnected economies of both nations.



The risk of a U.S.–Mexico trade war could jeopardize nearly $800 billion in annual trade flows. 



<h1 class="wp-block-heading">Mexican Peso Takes a Hit</h1>



According to Alejandro Cuadrado, BBVA&#8217;s chief strategist, the peso was particularly vulnerable on Tuesday, with USD/MXN breaking through key resistance at 20.60 and testing 20.80, a level last seen after the 2020 U.S. presidential election. 



Cuadrado highlighted the sell-off reflects the uncertainty surrounding U.S. trade policy and Mexico's potential retaliation, with risks of further depreciation looming.



"The break of USD/MXN 20.60 has opened the room towards the 21 handle," Cuadrado said, adding that investors are now awaiting more policy clarity. 



He warned that the MXN could face significant headwinds in the short term, especially if U.S. tariff threats materialize.



&#8220;Tuesday's sell-off was also a reminder that risks can awaken suddenly and rapidly given the uncertainty, erratic communication, lack of definition and overall style of policymaking,&#8221; Cuadrado added.



<h1 class="wp-block-heading">Trade War Threat Looms About $800 Billion In Bilateral Trade</h1>



Mexico surpassed China to become the U.S&#8217;s largest trading partner in 2023, underscoring the critical importance of the relationship.



According to official U.S. Census Bureau data, total goods and services traded between the U.S. and Mexico reached $798 billion last year.



This figure reflects the deep integration of their economies under the United States–Mexico–Canada Agreement (USMCA), which replaced NAFTA in 2020.



Here's a breakdown of 2023 U.S.–Mexico trade:



<ul>
<li>U.S. Exports to Mexico: $322 billion
<ul>
<li>Mexico is a key buyer of U.S.-produced goods, including motor vehicle parts, semiconductors, basic chemicals, petroleum products and agricultural commodities.</li>



<li>In energy, Mexico is the largest importer of U.S. natural gas and petroleum products.</li>



<li>U.S. goods exports to Mexico have grown exponentially from $42 billion in 1993 (pre-NAFTA) to $322 billion in 2023.</li>
</ul>
</li>



<li>U.S. Imports from Mexico: $477 billion
<ul>
<li>Nearly 80% of Mexico's total exports are destined for the U.S..</li>



<li>Top categories include automobiles ($130 billion), electronic equipment ($85.6 billion), and machinery and reactors ($81 billion). </li>
</ul>
</li>



<li>U.S. Trade Deficit with Mexico: $152.5 billion
<ul>
<li>The 2023 trade deficit with Mexico is nearly three times larger than a decade ago, reflecting the country's growing role as a manufacturing hub for U.S.-bound goods.</li>
</ul>
</li>
</ul>



<h1 class="wp-block-heading">Automotive Industry At The Center Of Trade Tensions</h1>



The U.S. auto sector is particularly vulnerable to trade disruptions with Mexico. Of the $477 billion in U.S. imports from Mexico in 2023, vehicles accounted for $130 billion — by far the largest single category.



Automakers such as General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), Stellantis N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>), Volkswagen AG (OTCPK: VLKAF), Toyota Motor Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>), and Honda Motor Co. Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMC#NYSE">HMC</a>) have long relied on Mexican factories for their affordability and proximity to U.S. markets.



Components for cars, such as engines, transmissions and interior electronics, often cross the U.S.-Mexico border multiple times before final assembly.



Additionally, the Wall Street Journal <a href="https://www.wsj.com/business/autos/mexico-gets-cold-feet-over-new-chinese-ev-plant-after-trump-win-3b92f1c3">published</a> on Tuesday that Chinese electric vehicle manufacturer BYD — a major rival of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) — is in the final stages of planning a factory in Mexico — a move that could further heighten trade tensions between the two neighbors.



The Wall Street Journal also reported Mexican officials are concerned a BYD factory could send the wrong signal to Trump and his trade-focused allies, potentially implying Mexico aims to serve as a backdoor for Chinese companies to access the U.S. market.



Read Now:



<ul>
<li><a href="https://www.benzinga.com/government/regulations/24/11/42213610/hasbro-best-buy-brace-as-trumps-tariffs-loom-could-retail-margins-hit-rock-bottom">Trump&#8217;s Tariff Plan Targets Imports: Electronics, Retail Stocks At Risk</a></li>
</ul>



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US–Mexico Trade Tensions Escalate As Mexican Peso Hits August 2022 Lows: Why Is Auto Industry Most At Risk?

Global markets faced turbulence by midday Wednesday as an unwinding of yen-dollar carry trades drove sharp losses in U.S. equities, with the tech-heavy Nasdaq 100 falling <a href="https://www.benzinga.com/markets">1.2% in intraday trading.</a>



Rising expectations that the Bank of Japan may raise interest rates in December pushed the dollar-yen pair down by 1.5%, marking its steepest drop since late September. This triggered a wave of &#8220;risk-off&#8221; sentiment, pressuring major indices.



The S&amp;P 500 dipped 0.5% by midday, on track to snap a seven-day winning streak, while small caps in the Russell 2000 remained relatively steady. Treasury yields fell significantly as fresh economic data failed to stoke concerns about an imminent change in the Federal Reserve's interest rate path.



The U.S. economy expanded at an annualized 2.8% in the third quarter, according to a second estimate that matched earlier print. October's Personal Consumption Expenditures (PCE) price index, the Fed&#8217;s preferred inflation gauge, also came in line with forecasts, <a href="https://www.benzinga.com/news/global/24/11/42220106/dollar-treasury-yields-stocks-fall-in-tandem-after-october-inflation-uptick">showing a modest uptick.</a>



Traders continue to bet on easier monetary policy, with Fed funds futures pricing in a 70% probability of a 25-basis-point rate cut at the Dec. 18 meeting.



In commodities market, gold inched up by 0.2%, while oil prices fell by 1% to $68 a barrel, heading for a three-day decline. Natural gas plummeted 7%, amid less cold weather forecasts reducing the outlook for heating demand.



Meanwhile, cryptocurrencies reversed their recent losing streak. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rallied nearly 5% to above $96,000, while Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) surged more than 7%, hitting price levels last seen in late June 2024.



<h1 class="wp-block-heading">Wednesday&#8217;s Performance In Major U.S. Indices, ETFs</h1>



<figure class="wp-block-table is-style-stripes"><table><tbody><tr><td>Major Indices</td><td>Price</td><td>Chg %</td></tr><tr><td>Russell 2000</td><td>2,424.01</td><td>0.0%</td></tr><tr><td>Dow Jones</td><td>44,747.65</td><td>-0.3%</td></tr><tr><td>S&amp;P 500</td><td>5,994.06</td><td>-0.5%</td></tr><tr><td>Nasdaq 100</td><td>20,682.38</td><td>-1.2%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated at 1:00 p.m. EST</figcaption></figure>



According to&nbsp;<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent112524&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:



<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) edged 0.4% lower to $598.35.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;eased 0.2% to $448.13.</li>



<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 1.1% to $503.71.</li>



<li>The&nbsp;iShares Russell 2000 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) inched 0.1% up to $241.01.</li>



<li>The&nbsp;Real Estate Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) outperformed, rising 1%. The&nbsp;Technology Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) lagged, down 1.9%.</li>
</ul>



<h1 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h1>



<ul>
<li>Semiconductor stocks, as tracked by the iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>), witnessed broad-based declines amid rising trade tensions between U.S. and China following Donald Trump&#8217;s pledge to raise tariffs. Micron Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), Marvell Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) and Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) were among the weakest performers, with drops of about 4.4%.</li>



<li>Crypto-linked stocks rebounded after sharp drops witnessed a day earlier. Shares of Bit Digital Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTBT#NASDAQ">BTBT</a>) were up 16%, while Riot Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>) and MARA Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) were up by 9% and 6%, respectively. </li>



<li>Dell Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NASDAQ">DELL</a>) tumbled by over 11% in reaction to earnings. </li>



<li>Other stocks reacting to quarterly results were Crowdstrike Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>), down 5.1%; Workday Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>), down 5.2%; Autodesk Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>), down 8%; HP Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPQ#NYSE">HPQ</a>), down 12% and Nutanix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTNX#NASDAQ">NTNX</a>), down over 6%.</li>
</ul>



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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42219612/usmexico-trade-tensions-escalate-as-mexican-peso-hits-august-2022-lows-why-is-auto-industry-most-at-risk">US–Mexico Trade Tensions Escalate As Mexican Peso Hits August 2022 Lows: Why Is Auto Industry Most At Risk?</a></li>
</ul>



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BTBT

CRWD

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MARA

MRVL

NTNX

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WDAY

XLRE

Stocks Fall, Yen Eyes Best Day In 2 Months, Bitcoin Rebounds Above $96,000: What's Driving Markets Wednesday?

Black Friday, known for its enticing discounts on the latest technology, may not always deliver the bargains shoppers expect. A recent study by KnownHost revealed that nearly a third of these &#8220;deals&#8221; aren&#8217;t <a href="https://www.benzinga.com/general/psychology/24/11/42196027/amazon-dominates-holiday-shopping-as-black-friday-spending-soars-goldman-sachs">genuine savings at all.</a>



What To Know: An analysis of 65 of the most anticipated Black Friday <a href="https://www.knownhost.com/blog/what-products-have-the-highest-price-hikes-before-black-friday/">tech deals</a> from last year showed that, while 78% of products participated in sales, about 30% experienced price increases before the event to create the illusion of deeper discounts. 



Read Next: <a href="https://www.benzinga.com/news/retail-sales/24/11/42170721/thanksgiving-dinner-gobbles-up-19-more-cash-this-year-many-holiday-hosts-already-regret-their-decision">Thanksgiving Dinner Gobbles Up 19% More Cash This Year, Many Holiday Hosts &#8216;Already Regret Their Decision&#8217;</a>



Only 42% of items had stable prices leading up to Black Friday before significant price drops, representing authentic deals. In comparison; 29% of products saw price hikes before Black Friday, with the average being a 20.5% increase, before dropping on the sale. 



According to the KnownHost report, Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) products were some of the biggest offenders. The largest price hike in the week before Black Friday was Amazon&#8217;s Fire TV Stick, which saw its price double before the sales event. The price of Amazon's Echo Buds rose 46% and the Amazon Fire Max 11 Tablet saw a price increase of 35% in the week before Black Friday. 



Other products that saw large price increases were HP, Inc.'s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPQ#NYSE">HPQ</a>) HP 14 laptop with a 27% increase and Samsung's Galaxy Z Fold 5 phone up 16%. 



Benzinga has contacted Amazon for comment on the KnownHost report. 



Tech accessories are mostly likely to experience hikes ahead of Black Friday sales, the report showed, followed by headphones, smartwatches and laptops. 



TVs and tablets were the least likely to have seen increased prices leading up to Black Friday, and therefore, the categories where shoppers are most likely to find genuine savings. 



"Black Friday can be as good as it seems with genuine deals still available to save money and get presents just before Christmas, but checking these deals out beforehand is important," KnownHost said in its report.&nbsp;



Read More: 



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<li><a href="https://www.benzinga.com/24/11/42194570/starbucks-employee-systems-down-after-software-provider-suffers-ransomware-attack">Starbucks&#8217; Employee Systems Down After Software Provider Suffers Ransomware Attack</a></li>
</ul>



Image: Gerd Altmann from Pixabay

Retail Sales

General

AMZN

Black Friday Discounts Too Good To Be True? Survey Shows Only 42% Of Sales Are Authentic

The Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Model Y is gaining new praise from the head of <a href="https://www.benzinga.com/electric-vehicles">a rival automaker. </a>



What Happened: The Tesla Model Y passed several milestones over the last year as the vehicle became the bestselling vehicle globally in 2023 and the<a href="https://www.benzinga.com/24/01/36496558/tesla-model-y-is-bestselling-electric-vehicle-of-all-time-passing-a-record-previously-held-by-the-mu"> top-selling electric vehicle </a>of all time.



While the vehicle has attracted many buyers, the Tesla Model Y also draws praise from rivals.



Rivian Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) CEO RJ Scaringe offered praise for Tesla, while also hoping that another Tesla doesn't rise up to take more market share.



"The world doesn't need another one of those," Scaringe said of Tesla, as <a href="https://insideevs.com/news/742302/rivian-ceo-tesla-model-y-best/">reported </a>by InsideEVs. "We think Tesla has done an amazing job. It's a great brand; they have great products."



Scaringe answered "yes" to the Model Y being the best electric vehicle under $50,000 available today. The comments came during a roundtable at the <a href="https://www.benzinga.com/trading-ideas/24/11/42068815/rivian-r2-road-tour-heads-to-detroit-chicago-los-angeles-and-more">LA Auto Show.</a>



The Rivian CEO said there are "less than five highly competitive choices" among the electric vehicles that sell for under $50,000.



This might explain some of the reason that Rivian is focusing on launching new vehicles like the R2 and R3, which are expected to start at under $50,000. The current Rivian vehicles R1T and R1S have starting prices above the $50,000 level.



While Rivian and Tesla are rivals today, Scaringe has also owned a Tesla Model 3 and Model Y, according to the report.



You may not be a billionaire like Elon Musk, but you can uncover hidden gems in the stock market using our proprietary data and pattern recognition — <a href="https://www.benzinga.com/trading-ideas/24/11/42144099/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet-44">check out five stocks flying under the radar that deserve your attention.</a>



Why It's Important: The praise for Tesla from Scaringe comes as reports say the two companies are <a href="https://www.benzinga.com/24/11/42156817/tesla-rivian-settle-battery-tech-theft-dispute-after-nearly-4-years">nearing a settlement </a>over accusations that Rivian hired old Tesla employees to obtain proprietary data.



Tesla CEO Elon Musk has offered praise for Rivian in the past, while also expressing concern that the company will go bankrupt.



"I hope they do well," Musk <a href="https://www.benzinga.com/news/24/10/41431406/elon-musk-says-tesla-will-not-buy-ev-rival-rivian-going-to-have-a-hard-time">previously said of Rivian</a>. "The car industry is a very difficult industry. There's only two U.S. car companies that haven't gone bankrupt and that's Ford and Tesla. Rivian's going to have a hard time."



The comments came when Musk was asked why Tesla hasn't considered acquiring Rivian. Based on the comments, it doesn't look like Tesla will acquire Rivian anytime soon. Tesla has often limited its acquisitions to companies that help with technology or the supply chain of the company's electric vehicles.



Read Next: 



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<li><a href="https://www.benzinga.com/news/earnings/24/11/41825787/rivian-q3-earnings-highlights-revenue-eps-miss-ceo-confident-in-q4-gross-profit-r2-being-fundamenta">Rivian Q3 Earnings Highlights: Revenue, EPS Miss, CEO Confident In Q4 Gross Profit, R2 Being &#8216;Fundamental Driver&#8217; Of Growth</a></li>
</ul>



Image via Tesla

RIVN

Tesla Has Best EV Under $50K, Rivian CEO Says In Praise Of Rival: 'It's A Great Brand'

An inflation gauge that&#8217;s closely watched by the Federal Reserve rose as anticipated in October, while personal income and spending data continues to reveal a <a href="https://www.benzinga.com/news/econ-s">resilient U.S. consumer. </a>



Earlier on Wednesday, the second estimate of the third-quarter economic growth was 2.8%, in line with the data initially reported. 



<h3 class="wp-block-heading">Inflation Rises Again In October</h3>



The Personal Consumption Expenditures (PCE) price index rose 2.3% in October on a year-over-year basis, accelerating from September&#8217;s 2.1% reading but matching economist expectations of 2.3%, based on TradingEconomics projections. 



On a monthly basis, the PCE index increased by 0.2%, in line with both the prior reading and forecasts of 0.2%.



When excluding volatile food and energy costs, the core PCE price index — widely regarded as the Fed&#8217;s most reliable inflation measure — climbed to 2.8% year-over-year in October, up from September&#8217;s 2.7% and in line with economist forecasts.



On a monthly basis, core PCE inflation remained steady at 0.3%, mirroring September&#8217;s pace.



Personal income soared by 0.6% in October, higher than the 0.3% figure recorded in the prior month and exceeding market expectations. 



Personal spending, while showing signs of slowing from 0.5% in September to 0.4% in October, also came in above expectations of 0.3%.



<h3 class="wp-block-heading">Inflation Data Keeps December Rate Odds Steady</h3>



The economic data released on Wednesday underscores the resilience of the U.S. economy while signaling that inflationary pressures may require careful monitoring in the months ahead.



Market expectations for a Federal Reserve interest rate cut in December remained steady Wednesday. 



Prior to the release of the GDP and PCE reports, traders assigned a 66% probability to a 25-basis-point rate cut at the Federal Open Market Committee meeting Dec. 18. The latest data did not alter those odds, according to the CME FedWatch tool.



The U.S. dollar index (DXY) — as tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) — was 0.6% lower on Wednesday.



Stocks traded mostly flat on Wednesday morning, with the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) edging down 0.1% as of 10:05 a.m. EST in New York. The subdued activity reflects a light trading session ahead of the Thanksgiving holiday.



Read Next:



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<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42198763/fed-minutes-reveal-confidence-in-inflation-reduction-yet-flag-divergent-views-on-interest-rate-path-ahead">Fed Minutes Reveal &#8216;Confidence&#8217; In Inflation Reduction, Yet Flag Divergent Views On Interest Rate Path Ahead</a></li>
</ul>



Photo via Shutterstock.

Macro Economic Events

Currency ETFs

Economics

Markets

Fed's Favorite Inflation Gauge Heats Up As Predicted, Personal Incomes Soar

President-elect Donald Trump has proposed <a href="https://www.benzinga.com/24/11/42178994/trump-says-he-will-impose-25-tariffs-on-canada-mexico-on-first-day-of-office-and-extra-tariffs-on-china-until-they-pay-attention">implementing significant tariffs</a>, including 25% on imports from Mexico and Canada, and an additional 10% on goods from China.



For investors, this could mean a return to the trade-war trenches of 2019, but this time, the stakes are higher and the economic backdrop shakier.



JPMorgan analyst Christopher Horvers is sounding the alarm, pointing out that the tariff squeeze might be harder to absorb now than during the first tariff spat. With inflation already a sore spot for consumers, the retail and manufacturing sectors could find themselves in a pricing power pickle.



Here's where the pressure is highest and how it could influence stock movements.



Read Also: <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42202496/goldman-sachs-expects-major-selloffs-in-canadian-dollar-mexican-peso-says-trump-tariffs-threaten-usmca-agreement">Goldman Sachs Expects Major Selloffs In Canadian Dollar, Mexican Peso, Says Trump Tariffs Threaten USMCA Agreement</a>



<h2 class="wp-block-heading">Electronics, Toys, Furnishings: Tariff Trouble Zones</h2>



The &#8220;Made in China&#8221; label isn&#8217;t just a tagline; it's a linchpin for sectors like electronics, toys, and home furnishings. According to Horvers, consumer electronics, with names like Best Buy Co Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BBY#NASDAQ">BBY</a>) sourcing as much as 60% from China, are sitting ducks. Similarly, the toy giants Hasbro Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAS#NASDAQ">HAS</a>) and Mattel Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>) have 50% of U.S. revenues tied to China-made goods. 



Retailers like Walmart Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) and Target Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>), who dominate 40% of the U.S. toy market, could pass price hikes to consumers, but only up to a certain limit.



Meanwhile, home furnishings players like RH (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RH#NYSE">RH</a>) and Williams-Sonoma Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSM#NYSE">WSM</a>), already battling tighter margins, could see additional pain. 



In fragmented industries like these, pricing power is weak, and any added costs could disrupt consumer demand or erode profits.



<h2 class="wp-block-heading">Autoparts: High Import, But Stronger Shields</h2>



Auto parts, with high import exposure (e.g., 45% for AutoZone Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/azo#NYSE">AZO</a>)), might appear vulnerable. However, Horvers suggests this sector wields strong pricing power, which should buffer against margin compression. 



Unlike toys or electronics, auto parts are essential purchases—there's no skipping that brake replacement or battery swap.



<h2 class="wp-block-heading">Grocery Stores: Low Risk, High Resilience</h2>



The grocery sector seems to have drawn the long straw. With low import exposure and robust pricing power, players like BJ's Wholesale Club Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BJ#NYSE">BJ</a>) and Costco Wholesale Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>) are largely insulated. Their domestic sourcing and needs-based demand make this category a tariff-resistant fortress, according to the analyst.



<h2 class="wp-block-heading">2024 Vs. 2019: Less Pricing Power, More Shared Pain</h2>



The tariffs of 2019 were painful but manageable. This time around, Horvers warns, things could be different. Consumers have already endured price hikes on essentials since 2020, leaving retailers and manufacturers with less room to maneuver. Big-ticket discretionary items, such as appliances or furniture, might see a sharper dip in unit sales as buyers balk at higher price tags.



Adding to the complexity, tariffs this time appear more politically charged. Horvers believes imposing significant consumer-facing price shocks could backfire, especially with inflation shaping voter sentiment. This was evident in 2019 when tariffs on consumer goods were retracted to avoid such fallout.



<h2 class="wp-block-heading">What Investors Should Watch</h2>



If tariffs take hold, shared pain across manufacturers, retailers, and consumers will be the name of the game. 



Investors should monitor pricing strategies, margin resilience, and unit sales in the affected sectors. Stocks with diversified sourcing, strong pricing power, or essential demand are better positioned to weather the storm.



Trump's tariff 2.0 might be a high-stakes negotiation tactic, but for stocks exposed to discretionary imports, it's a risk that can't be ignored. 



As trade tensions escalate, investors are questioning not only who bears the cost of tariffs but also how long consumers can endure higher prices before they stop spending altogether.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/government/regulations/24/11/42058282/trumps-tariffs-could-have-severe-consequences-for-us-defense-sector-beijing-adviser-warns">Trump&#8217;s Tariffs Could Have &#8216;Severe Consequences&#8217; For US Defense Sector, Beijing Adviser Warns</a></li>
</ul>



Photo by Khanthachai C on Shutterstock

Asia

Government

Regulations

Politics

COST

Trump's Tariff Plan Targets Imports: Electronics, Retail Stocks At Risk

Analysts on Monday drew parallels between Bitcoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) recent performance and its infamous "Thanksgiving Day Massacre" in 2020, when prices dropped sharply before rebounding <a href="https://www.benzinga.com/money/bitcoin-price-prediction">to new highs</a>.



What Happened: Coinbureau co-founder Nic Puckrin on X <a href="https://x.com/nicrypto/status/1861661962116923470">highlighted</a> that Bitcoin has fallen from just below $100,000 to $91,500 this week, a less severe 8% decline compared to the 17% drop in 2020 from Nov 25 to Nov 27.



In 2020, Bitcoin&#8217;s sharp decline set the stage for a sustained rally. 



For 2024, factors like institutional interest from entities like <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42165734/bitcoin-etfs-registered-record-312-billion-net-inflows-last-week">BlackRock and ETFs</a>, alongside macroeconomic variables such as <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42198763/fed-minutes-reveal-confidence-in-inflation-reduction-yet-flag-divergent-views-on-interest-rate-path-ahead">inflation and interest rates</a>, play a larger role in shaping the market outlook.



Puckrin noted that on-chain data reveals whales are accumulating Bitcoin, signaling a potential rebound. 



Still, the broader market awaits confirmation of whether retail investors will join or if a deeper correction looms.



Puckrin himself views Thanksgiving dips as moments tied to volatility but often "turning points for new highs." 



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42197276/anthony-scaramucci-trump-win-is-the-greatest-political-comeback-in-us-history-crypto-surge-following-it-was-3-years-overdue">Anthony Scaramucci: Trump Win Is &#8216;The Greatest Political Comeback In US History,&#8217; Crypto Surge Following It Was 3 Years Overdue</a>



Galaxy&#8217;s Head of Research, Alex Thorn, echoed this sentiment, reminding traders of Bitcoin's 2020 Thanksgiving dip, which was followed by a tripling of its price over the next five months.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">who remembers the thanksgiving dump of 2020? bitcoin dumped 17% between wednesday nov 25 and friday nov 27, 2020 btcusd later went on to more than 3x over the next 5 months. does history rhyme? <a href="https://t.co/y2bWV23P9n">pic.twitter.com/y2bWV23P9n</a>&mdash; Alex Thorn (@intangiblecoins) <a href="https://twitter.com/intangiblecoins/status/1861605206556922055?ref_src=twsrc%5Etfw">November 27, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Recent Santiment data highlighted a dip in social sentiment for major cryptocurrencies like Bitcoin, Ethereum and Solana, which may weigh on <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42163156/why-bitcoins-rally-is-stalling-below-100000">Bitcoin stalling below $100,000.</a>



Standard Chartered&#8217;s analysts anticipate a potential correction, identifying $85,000 to $88,700 as critical support zones before an uptrend resumes.



The bank&#8217;s forecast for Bitcoin includes a <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42192364/bitcoin-correction-could-go-as-deep-as-88700-but-125000-year-end-target-remains-in-play-says-standard-chartered">year-end target of $125,000</a> and $200,000 by the end of 2025. 



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42191142/bitcoin-is-being-sold-into-a-market-with-ample-demand-from-institutions-says-marathon-ceo-fred-thiel">Bitcoin Is Being Sold Into A Market With &#8216;Ample Demand&#8217; From Institutions, Says Marathon CEO Fred Thiel</a></li>
</ul>



Image created using artificial intelligence with Midjourney.

Bitcoin's 2020 'Thanksgiving Massacre' To Repeat Or Is The Holiday A 'Turning Point For New Highs'?

In a notable rebound, MicroStrategy Inc. experienced an 8.03% rise in pre-market trading on Wednesday following the slow recovery of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>). This comes after a significant 12.33% drop and closing at $353.69 the previous day, as per <a href="https://pro.benzinga.com/">Benzinga Pro</a>. 



What Happened: On Wednesday, at 6:00 AM ET, Bitcoin was trading around $93,789.55 after dropping to $92,000 levels on Tuesday. Consecutively, MicroStrategy, with a holding of 386,700 Bitcoins valued at $35.4 billion, experienced an upward tick in its pre-market activity.



The company, under the leadership of CEO Michael Saylor, has been a focal point of market speculation due to a 23.64% decline in its stock over the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42208320/michael-saylors-microstrategy-plunges-23-in-5-sessions-while-bitcoin-slips-under-6-gary-black-quips-dont-say-i-didnt-warn-you">past five sessions.</a> This period also saw a 5.52% decrease in Bitcoin.



Analysts are questioning the sustainability of the company&#8217;s strategy which involves borrowing through convertible notes to buy Bitcoin, then selling shares at a premium to reinvest in more Bitcoin.



See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42173805/bitcoin-dogecoin-dip-ethereum-stays-green-trader-predicts-first-major-btc-correction-only-after-one-key-level-hits?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Dogecoin Dip, Ethereum Stays Green: Trader Predicts &#8216;First Major BTC Correction&#8217; Only After One Key Level Hits</a>



Last week marked a record for retail investment in MicroStrategy, with nearly $100 million invested and trading volume reaching $136 billion, surpassing even Amazon Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>).



Based on the ratings of 12 analysts, MicroStrategy has a consensus price target of $449.5 The high is $690 issued by BTIG on Dec. 11, 2023. The low is $140 issued by Jefferies on Nov. 10, 2022.



The average price target of $563.33 between TD Cowen, Barclays, and Benchmark implies a 41.90% upside for MicroStrategy.



Why It Matters: MicroStrategy&#8217;s <a href="https://www.benzinga.com/markets/equities/24/11/42186167/michael-saylors-microstrategy-convertible-notes-to-buy-bitcoin-offer-no-interest-so-why-are-investors-rushing-to-buy-them">recent $3 billion offering</a> of 0% convertible senior notes due 2029 has intrigued investors. These notes, offering no interest, were quickly snapped up by institutional buyers, indicating strong market interest despite the lack of traditional returns. The notes&#8217; high conversion rate and potential equity upside have been attractive to investors.



However, the company&#8217;s stock has been under scrutiny. Gary Black of<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42208320/michael-saylors-microstrategy-plunges-23-in-5-sessions-while-bitcoin-slips-under-6-gary-black-quips-dont-say-i-didnt-warn-you"> The Future Fund LLC</a> has raised concerns about MicroStrategy&#8217;s valuation, suggesting it should be significantly lower than its current price. Black&#8217;s analysis points to a potential overvaluation, with a suggested price of $105 per share, which is about 75% lower than its current trading price.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42173367/shiba-inu-burn-rate-soars-487-in-a-day-what-is-going-on?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shiba Inu Burn Rate Soars 487% In A Day: What Is Going On?</a></li>
</ul>



Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.



Photo by JOCA_PH on Shutterstock

Pre-Market Outlook

MicroStrategy Surges 8% In Wednesday Pre-Market: What's Going On?

Bitcoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) dip to $93,000 can be attributed to pressure from a combination of macroeconomic shifts, technical signals and on-chain trends, according to the latest note by 10x Research.



Despite this, the long-term outlook for 2025 appears optimistic, aligning with Bitcoin's historical cycles and broader economic trends, the analysts report.



The impact of rate cuts 



One of the primary drivers of Bitcoin's decline is the <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42198763/fed-minutes-reveal-confidence-in-inflation-reduction-yet-flag-divergent-views-on-interest-rate-path-ahead">Federal Reserve's cautious approach</a> to monetary easing.



"The FOMC minutes hint at a pause in monetary easing," the report notes, highlighting how this shift removes a critical tailwind that has historically supported Bitcoin's growth. 



Without the added boost from loose fiscal policies, Bitcoin has lost some of its upward momentum, exposing vulnerabilities in its price action.



Global liquidity taps start closing



Another factor impacting Bitcoin is its close correlation with <a href="https://www.benzinga.com/24/11/42170458/crude-oil-down-2-chicago-fed-national-activity-index-falls-in-october">global money supply changes</a>.



The report points out that "over the past 12 months, a clear correlation has emerged, with changes in money supply leading Bitcoin's movements by approximately ten weeks." 



This lagging effect has played out recently, as Bitcoin peaked in November following earlier monetary policy adjustments. 



However, with the pace of monetary expansion slowing, Bitcoin has struggled to maintain its previous trajectory.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42198909/trump-linked-crypto-platform-world-liberty-financial-appoints-justin-sun-as-advisor-after-30-million-investment">Trump-Linked Crypto Platform World Liberty Financial Appoints Justin Sun As Advisor After $30 Million Investment</a>



Technical indicators



<a href="https://www.benzinga.com/money/what-you-need-to-know-about-technical-analysis">Technical indicators</a> also reveal why Bitcoin's price has faltered.



According to the report, Bitcoin "confirmed bearish daily reversal signals in play, with weekly signals likely to follow," suggesting a potential correction from overbought levels. 



Analysts have identified critical support levels at $89,000 and $75,000, which will be key in determining whether Bitcoin can stabilize and regain momentum.



On-chain metrics offer additional context. 



The realized profit-loss ratio and changes in long-term holder positions have signaled increased selling pressure from experienced investors. 



The report notes, "A meaningful signal only emerges when this ratio reverses lower—indicating that longer-term holders are slowing their profitable coin sales."



This suggests that selling momentum could ease in the near future, paving the way for consolidation and eventual recovery.



What&#8217;s Next



Looking ahead, the report offers a cautiously optimistic view. 



While December has historically been a bullish month for Bitcoin, the broader outlook for 2025 remains the real focus. 



The report reinforces this sentiment, stating, "This pattern has consistently played out during Bitcoin&#8217;s short history, pointing to a continued bullish outlook for 2025." 



With cyclical trends and potential macroeconomic shifts aligning, Bitcoin may be poised for another strong performance in <a href="https://www.benzinga.com/money/bitcoin-price-prediction">the years ahead</a>.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42196910/pantera-bitcoin-fund-hits-1000x-return-predicts-btc-at-740000-by-2028">Pantera Bitcoin Fund Hits 1,000X Return, Predicts BTC At $740,000 By 2028</a></li>
</ul>



Image: Shutterstock

Bitcoin At $93,000—Crash Or Pause? 'Bullish Outlook For 2025,' Says 10x Research

U.S. stock futures declined in premarket hours as traders digested new appointments for the key cabinet positions by President-elect Donald Trump. Hoards of data are expected to be released today which could give a clearer picture of where interest rates are headed.



Futures for the three major U.S. indices dropped and U.S. Dollar Index fell near the 106.5 level. However, the broader small-cap index Russell 200 futures were trading higher during the premarket. The two-year and 10-year U.S. Treasuries slipped to 4.21% and 4.26% respectively as the expectations of a further 25 basis point rate cut in December rose to just 66.3% now, according to CME Group&#8217;s FedWatch tool.



<figure class="wp-block-table"><table><tbody><tr><td>Futures</td><td>Performance (+/-)</td></tr><tr><td>Nasdaq 100</td><td>-0.34%</td></tr><tr><td>S&amp;P 500</td><td>-0.16%</td></tr><tr><td>Dow Jones</td><td>-0.06%</td></tr><tr><td>R2K</td><td>0.59%</td></tr></tbody></table></figure>



In premarket trading on Wednesday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was down 0.09% to $600.07 and the Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.27% to $507.96, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.



Cues From The Last Session



The Dow Jones closed higher by around 124 points to 44,860.31 on Tuesday. The S&amp;P 500 rose 0.57% to 6,021.63, while the Nasdaq Composite rose 0.63% to close at 19,175.58 during Tuesday&#8217;s session. Both, Dow Jones and S&amp;P 500 surged to fresh record levels <a href="https://www.benzinga.com/news/earnings/24/11/42207507/dow-sp-500-settle-at-record-highs-fear-greed-index-remains-in-greed-zone">during the session</a>.



Most sectors on the S&amp;P 500 closed on a positive note, with utilities, communication services, and consumer discretionary stocks recording the biggest gains on Tuesday. However, energy and materials stocks bucked the overall market trend, closing the session lower.



On the economic data front, the S&amp;P CoreLogic Case-Shiller home price index rose 4.6% year-over-year in September versus a 5.2% increase in August. Sales of new single-family homes in the U.S. dipped by 17.3% to an annualized rate of 610,000 in October.



<figure class="wp-block-table"><table><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>0.63%</td><td>19,175.58</td></tr><tr><td>S&amp;P 500</td><td>0.57%</td><td>6,021.63</td></tr><tr><td>Dow Jones</td><td>0.28%</td><td>44,860.31</td></tr><tr><td>Russell 2000</td><td>-0.73%</td><td>2,424.31</td></tr></tbody></table></figure>



Also read: <a href="https://www.benzinga.com/news/earnings/24/11/42207507/dow-sp-500-settle-at-record-highs-fear-greed-index-remains-in-greed-zone">Dow, S&amp;P 500 Settle At Record Highs, Best Buy Reports Weaker Than Expected Earnings: Fear Index Remains In &#8216;Greed&#8217; Zone</a>



Insights From Analysts Comparing the average performance per day of the S&amp;P 500 Index from 1950 to 2023, Ryan Detrick, CMT and chief market strategist at Carson Group LLC said in an X (formerly Twitter) post that &#8220;now is one of the stronger times of the year for stocks.&#8221;



The chart shared by him showed that the average returns on the index from the dates Nov. 23 to Nov. 30 have been consecutively positive over the last 73 years.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Now is one of the stronger times of the year for stocks. <a href="https://t.co/Hh4kA7xx6V">pic.twitter.com/Hh4kA7xx6V</a>&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1861409159167549682?ref_src=twsrc%5Etfw">November 26, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Speaking about Tuesday&#8217;s cross-asset volatility, Mark Newton, CMT, Managing Director and global head of technical strategy at Fundstrat Global Advisors LLC said that the markets &#8220;got the long-awaited 10-year Treasury and U.S. Dollar rollover while Crude and Precious metals all fell more than 3% today.&#8221;



He added that &#8220;despite a +0.91% equal-weighted $SPX advance today (Tuesday), some might have felt like the market &#8220;got killed&#8221; Not quite, but important to pay close attention given the Cross-asset Volatility that kicked in today.&#8221;



Upcoming Economic Data



Here are the key events lined up for Wednesday.



<ul>
<li>Initial jobless claims, advanced durable goods orders, U.S. trade balance, retail and wholesale inventories, and the first revision of GDP will be released at 8:30 a.m. ET.</li>



<li>Chicago Business Barometer (PMI) will be released at 9:45 a.m. ET.</li>



<li>Nominal personal income and spending data will be released at 10 a.m. ET.</li>



<li>PCE index and pending home sales data will be released at 10 a.m. ET.</li>
</ul>



Stocks To Watch:



<ul>
<li>Crowdstrike Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) was down over 6% in premarket after it reported a GAAP loss of $16.8 million in the third quarter, compared to the income of $26.7 million in the third quarter of fiscal 2024. Loss from operations as per GAAP standards stood at $55.7 million, compared to income of $3.2 million in the third quarter of fiscal 2024.</li>



<li>Dell Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) declined 13.22% in premarket as the third-quarter revenue came in at $24.37 billion, which missed the consensus estimate of $24.65 billion.</li>



<li>HP Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPQ#NYSE">HPQ</a>) dipped 10% in pre-market trading. HP reported in-line earnings for its fourth quarter, while sales topped estimates.</li>



<li>Rigetti Computing, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>) jumped over 11% in pre-market trading after dipping 20% on Tuesday. The company announced a registered direct offering of 50 million shares at $2 per unit.</li>



<li>HWH International Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HWH#NASDAQ">HWH</a>) was up 100% in premarket after Alset Inc. bought 4,411,764 of its shares for a total of approximately $2.99 million. It was priced at 0.68 each, according to SEC filing.</li>
</ul>



Commodities, Gold And Global Equity Markets:



Crude oil futures rose in the early New York session, advancing 0.25% to hover around $68.96.



The Gold spot rose 1% to 2,673.01 per ounce.



Japanese and Korean markets fell on Tuesday, while Chinese, Australian, Indian and Hong Kong markets ended in green. Most European markets declined.



<ul>
<li>Read next: <a href="http://JD Vance's Investment Playbook Has Bitcoin And ETFs: Here's What Else The VP-Elect Is Betting On">JD Vance&#8217;s Investment Playbook Has Bitcoin And ETFs: Here&#8217;s What Else The VP-Elect Is Betting On</a></li>
</ul>



Image Created Using Midjourney

RGTI

Major US Stock Futures Slide, Small-Caps Buck Trend: Market Strategist Flags This As The 'Stronger Times Of The Year For Stocks'

On Tuesday, Cathie Wood-led Ark Invest executed significant trades involving Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>). The trades included the sale of Tesla shares across multiple ETFs, reflecting strategic adjustments in Ark&#8217;s portfolio.



The Tesla Trade



Ark Invest&#8217;s decision to sell Tesla shares on Tuesday was a continuation of its recent trading strategy. The ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) offloaded 33,837 shares, while the ARK Autonomous Technology &amp; Robotics ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKQ#BATS">ARKQ</a>) sold 19,474 shares. With Tesla&#8217;s closing price at $338.23, these sales amounted to approximately $18.03 million. 



This move follows a series of trades where Ark has been recalibrating its holdings, including significant transactions involving Tesla earlier in the week. <a href="https://www.benzinga.com/24/11/42180029/ark-invest-shakes-up-portfolio-with-big-tesla-and-amazon-trades">Recent adjustments</a> came amid potential impacts from California&#8217;s consumer rebates proposal affecting Tesla&#8217;s eligibility.



Despite the sale, Cathie Wood has previously expressed a bullish outlook on Tesla&#8217;s future, particularly in the autonomous vehicle sector. She <a href="https://www.benzinga.com/markets/equities/24/10/41200165/cathie-wood-predicts-trillion-dollar-revenue-opportunity-for-tesla-in-autonomous-vehicles-winner">envisions</a> a &#8220;trillion-dollar-plus revenue opportunity&#8221; for Tesla, driven by advancements in autonomous driving technology. Wood&#8217;s confidence in Tesla&#8217;s long-term prospects remains strong, even as Ark Invest strategically reallocates its portfolio. Wood&#8217;s predictions highlight the potential for Tesla to dominate the market with its innovative technologies.



Other Key Trades:



See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42159139/microstrategy-shares-rise-in-monday-pre-market-as-michael-saylor-reveals-mstr-generating-500m-daily-amid-bitcoins-surge?itm_source=parsely-api" target="_blank" rel="noopener">MicroStrategy Shares Rise In Monday Pre-Market As Michael Saylor Reveals MSTR Generating $500M Daily Amid</a>



<ul>
<li>Advanced Micro Devices Inc. : Ark Invest purchased 17,521 shares through the ARK Autonomous Technology &amp; Robotics ETF. The transaction was valued at $2.4 million based on AMD stock closing 2.4% lower at $137.22 on Tuesday.</li>



<li>Illumina Inc. : 50,424 shares were acquired by the ARK Innovation ETF .</li>



<li>Pacific Biosciences of California Inc. : Ark Invest bought 48,276 shares via the ARK Innovation ETF and 28,368 shares through ARK Genomic Revolution ETF. </li>



<li>Twist Bioscience Corp : The ARK Innovation ETF added 18,146 shares to its holdings. 3,275 shares were added through ARK Genomic Revolution ETF.</li>
</ul>



Image via Shutterstock



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/24/11/42151809/michael-saylor-reveals-microstrategy-is-making-500m-a-day-with-bitcoin-may-very-well-be-the-most-profitable-company-in-the-us-growing-the-fastest-right-now?itm_source=parsely-api" target="_blank" rel="noopener">Michael Saylor Reveals MicroStrategy Is &#8216;Making $500M A Day&#8217; With Bitcoin: &#8216;May Very Well Be The Most Profitable Company In The US Growing The Fastest Right Now&#8217;</a></li>
</ul>



This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

ARKK

ARKQ

Cathie Wood's Latest Tesla Dump: Ark Sells $18M Worth Of Stock

The Walt Disney Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) has agreed to pay $43.25 million to settle a gender pay discrimination lawsuit, ending years of legal proceedings.



What Happened: The lawsuit, filed in 2019 by Disney employee LaRonda Rasmussen, alleged that she was paid less than male colleagues in similar roles.



The case expanded as more female employees joined, leading to a California judge granting class certification in December 2023.



Plaintiffs argued that Disney had a company-wide policy before 2018 that resulted in women receiving lower starting salaries than men.



This was partly due to basing pay on prior salaries, which often reflected gender disparities.



A labor economist&#8217;s analysis, cited by the plaintiffs, indicated that from 2015 to 2022, women at Disney earned less than their male counterparts, with a 2.01% female pay penalty.



See Also: <a href="https://www.benzinga.com/news/earnings/24/11/42201885/dell-technologies-shares-drop-after-q3-revenue-misses-estimates-details?itm_source=parsely-api">Dell Technologies Shares Drop After Q3 Revenue Misses Estimates: Details</a>



Disney contested these findings, maintaining their commitment to fair pay. A Disney spokesperson stated, &#8220;We have always been committed to paying our employees fairly and have demonstrated that commitment throughout this case.&#8221;



Christine Webber, representing the plaintiffs, praised the women involved, stating, &#8220;This settlement would not be possible without these courageous women. Because of them, women can expect equitable treatment at Disney in the future.&#8221;



Why It Matters: The settlement comes amid a broader trend of gender pay discrimination lawsuits in major corporations.



Earlier this year in June, Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) faced <a href="https://www.benzinga.com/24/06/39322674/apple-hit-with-class-action-lawsuit-over-alleged-unequal-pay-for-women">a class-action lawsuit</a> alleging unequal pay for women, highlighting ongoing issues in Silicon Valley.



Similarly, Goldman Sachs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) settled a <a href="https://www.benzinga.com/markets/equities/23/05/32280690/goldman-sachs-woes-doesnt-end-women-employees-discrimination-lawsuit-costs-215m">gender discrimination lawsuit</a> for $215 million in May 2023, and Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) agreed to a <a href="https://www.benzinga.com/news/22/06/27660579/google-agrees-to-pay-118m-to-settle-gender-discrimination-lawsuit">$118 million settlement</a> in June 2022.



Earlier this month, Disney reported strong financial performance, with a 6% revenue growth in <a href="https://www.benzinga.com/24/11/41971559/disneys-q4-boosted-by-streaming-gains-strong-box-office-and-solid-parks-performance">the fourth quarter of 2024</a>.



Price Action: Disney&#8217;s stock declined 0.47% on Tuesday, closing at $115.45, followed by a 0.11% drop in after-hours trading. Year-to-date, Disney shares have risen 27.27%, slightly outperforming the Nasdaq 100 index, which is up 26.47%, <a href="https://pro.benzinga.com/dashboard">according to Benzinga Pro data</a>.



Image via Shutterstock



Read Next:



<ul>
<li><a href="https://www.benzinga.com/tech/24/11/42154107/consumer-tech-news-nov-18-nov-22-us-doj-demands-google-to-divest-chrome-browser-gemini-ai-available-on-apple-more?itm_source=parsely-api">Consumer Tech News (Nov 18-Nov 22): US DOJ Demands Google To Divest Chrome Browser, Gemini AI Available On Apple &amp; More</a></li>
</ul>



Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Entertainment

Legal

AAPL

GOOG

GOOGL

Disney Reaches $43M Settlement In Gender Pay Discrimination Lawsuit: 'Women Can Expect Equitable Treatment' Moving Forward

Leading cryptocurrencies slid further Tuesday, as long-term investors continued to chase profits.&nbsp;



<figure class="wp-block-table"><table><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:30 p.m. ET)</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>-2.18%</td><td>$92,538.27</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-3.32%</td><td>$3,335.13</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-4.39%</td><td>$0.3886</td></tr></tbody></table></figure>



What Happened: Bitcoin fell to an intraday low of $90,770 before recovering to $92,500 in overnight hours. The corrective action has wiped all of the gains made over the week, halting the leading cryptocurrency&#8217;s rise to $100,000.



Long-term Bitcoin holders have offloaded 728,000 coins in the past 30 days, marking the largest sell-off since April.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Long-term holders have offloaded 728,000 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> in the past 30 days. This marks the highest sell-off since April. <a href="https://t.co/oWqqgIUeSR">pic.twitter.com/oWqqgIUeSR</a>&mdash; CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1861467958851289158?ref_src=twsrc%5Etfw">November 26, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Over $364 million in long positions were liquidated in the past 24 hours, out of a total of $477 million. Bitcoin's Open Interest also declined by over 5% in the last 24 hours.&nbsp;



That said, the number of Binance traders going long on Bitcoin still heavily outpaced those betting against the asset, <a href="https://www.coinglass.com/LongShortRatio">according </a>to the Long/Shorts Ratio indicator.



Additionally, around $695 million in leveraged shorts risked liquidation if the apex cryptocurrency rebounds to $98,000.



Top Gainers (24-Hours)



<figure class="wp-block-table"><table><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:30 p.m. ET)</td></tr><tr><td>Algorand (ALGO)</td><td>+13.71%</td><td>$0.3031</td></tr><tr><td>Fantom (FTM)</td><td>+7.27%</td><td>$1.08</td></tr><tr><td>Injective (INJ)</td><td>+7.09%</td><td>$29.61</td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.18 trillion, following a contraction of 2.29% in the last 24 hours.



Stocks climbed to new records Tuesday. The Dow Jones Industrial Average rose 123.74 points, or 0.28%, to close at 44,860.31, while the S&amp;P 500 gained 0.57% to end at 6,021.63. Both the broad-based indexes closed at record highs. Tech-focused Nasdaq Composite added 0.63% higher to close at 19,175.58.



Investors parsed the minutes from the Federal Reserve meeting, which <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42198763/fed-minutes-reveal-confidence-in-inflation-reduction-yet-flag-divergent-views-on-interest-rate-path-ahead">revealed </a>a consensus among policymakers that inflation was gradually reducing.



Market participants raised the odds of a 25 basis-point cut in next month's FOMC meeting to 57.7%, up from 52.3% a day earlier, <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">according </a>to the CME FedWatch tool.



The personal consumption expenditure (PCE) data, considered the Fed's preferred inflation gauge, is slated to be released Wednesday.



.See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>



Analyst Notes: In a note shared with Benzinga, Haider Rafique, Global Chief Marketing Officer at cryptocurrency exchange OKX, commented on why Bitcoin was fumbling around the $100,000 mark.



&#8220;There&#8217;s definitely profit-taking at these levels. The average holding price is around $30,000, representing a two to three-times upside for investors. So, there&#8217;s significant sell pressure, but we also see equal buyback pressure," Rafique stated.



He added, "Many people have had $100,000 as a price target for liquidation. We&#8217;re seeing institutions like MicroStrategy buying and holding significant supply, which naturally reduces available liquidity on exchanges and creates upward momentum."&nbsp;



Widely-followed cryptocurrency analyst Ali Martinez spotted a ‘buy signal' from the TD Sequential indicator on Bitcoin's hourly chart.



Additionally, with the Relative Strength Index (RSI) forming a higher low, a bullish divergence was witnessed, potentially helping Bitcoin to rebound to $95,000-$96,000.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The TD Sequential presents a buy signal on the <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> hourly chart, while a bullish divergence forms against the RSI, which could help <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> rebound to $95,000 &#8211; $96,000! Join me in this trade by signing up to <a href="https://twitter.com/coinexcom?ref_src=twsrc%5Etfw">@coinexcom</a> using my referral link <a href="https://t.co/73n8mW9Y5p">https://t.co/73n8mW9Y5p</a>. <a href="https://t.co/lKozxI8JVP">pic.twitter.com/lKozxI8JVP</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1861400256463737199?ref_src=twsrc%5Etfw">November 26, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo by CMP_NZ on Shutterstock



Read Next:    



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42198909/trump-linked-crypto-platform-world-liberty-financial-appoints-justin-sun-as-advisor-after-30-million-investment">Trump-Linked Crypto Platform World Liberty Financial Appoints Justin Sun As Advisor After $30 Million Investment</a></li>
</ul>

Movers

Bitcoin, Ethereum, Dogecoin Tumble As 'Diamond Hands' Lock In Gains: Top Analyst Anticipates BTC Rebound

President-elect Donald Trump's latest tariff proposal could represent a potential economic earthquake, with economists already forecasting significant fallout for trade flows, exchange <a href="https://www.benzinga.com/etfs/currency-etfs/24/11/42190765/trumps-tariff-threats-slam-mexican-peso-canadian-dollar-only-the-beginning-of-a-sorely-needed-repricing-expert-warns">rates and consumer prices.</a>



On Monday, Trump announced plans to impose a 25% tariff on all imports from Mexico and Canada, blaming these nations for failing to curb drug trafficking and illegal immigration. Additional, he pledged a 10% hike on Chinese tariffs. 



Mexico, Canada, and China collectively make up 43% of U.S. goods imports, with shares of 15.4%, 13.6%, and 13.9%, respectively, according to Goldman Sachs. 



<h3 class="wp-block-heading">Goldman Sachs: Tariffs Could Rattle Global Markets</h3>



Goldman Sachs analysts were quick to assess the broader economic implications of Trump's tariff rhetoric. 



Isabella Rosenberg, a Goldman Sachs forex analyst, said the proposed 25% tariff on Mexican and Canadian imports would represent a significant economic shock for both the loonie and the peso.



"If tariffs were to rise to 25%, the estimated impact to USD/CAD and USD/MXN would be about 13% and 17%, respectively," she said in a note to clients on Tuesday.



On Tuesday, the Mexican peso weakened by 1.9%, while the Canadian dollar – as tracked by the Invesco CurrencyShares Canadian Dollar Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXC#NYSE">FXC</a>) – fell by 0.6%. 



Tariffs at the levels proposed by Trump would disrupt supply chains and amplify costs, Rosenberg said. 



The analyst said she expects that a renegotiation of United States-Mexico-Canada Agreement (USMCA) – which replaced the previous North America Free Trade Agreement (NAFTA) – will likely take place next year.



&#8220;The USMCA is up for review and renewal in 2026, and it appears likely that this will involve renegotiating some aspects of the Agreement,&#8221; she wrote. Such uncertainty will keep the Canadian dollar under pressure in 2025, according to her view.



Joseph Briggs, an economist at Goldman, said: "We expect that the incoming Trump administration will impose higher tariffs on imports from China as well as auto imports from Europe and Mexico shortly after his inauguration in January."



Briggs added that the tariffs would likely affect economic data even before they're enacted, citing heightened policy uncertainty and ripple effects across currency markets.



<h3 class="wp-block-heading">$300 Billion In Government Revenue, But At Cost Of Higher Inflation</h3>



If fully rolled out, the tariffs would generate nearly $300 billion in annual revenue for the U.S. government, equivalent to about 1% of GDP, according to Goldman's calculations.



Yet the direct effects of tariffs don't stop at border disputes — they also trickle down to the wallets of everyday Americans.



Goldman Sachs estimates the effective tariff rate in the U.S. would rise by 8.6%, leading to a 0.9% increase in core PCE (Personal Consumption Expenditures) prices.



For context, this inflationary impact is three times larger than the effect of previous tariffs under Trump's first administration, such as those targeting China and auto imports.



<h3 class="wp-block-heading">Bottom Line: Trade Tensions Are Back</h3>



Trump's latest trade salvo reintroduces significant tension to global markets, evoking comparisons to his first term's tariff battles. 



The potential 25% tariff on Mexico and Canada has economists and investors bracing for wide-ranging effects, from inflation and exchange rate volatility to supply chain disruption and consumer pain.



While Trump's hardline tactics often double as negotiating strategies, the sheer scale of this proposal ensures that its reverberations will be felt long before Jan. 20.



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<li><a href="https://www.benzinga.com/news/global/24/11/42198583/will-trump-lead-us-into-trade-war-with-mexico-president-claudia-sheinbaum-rebukes-threats">Will Trump Lead US Into Trade War With Mexico? President Claudia Sheinbaum Rebukes Threats</a></li>
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Goldman Sachs Expects Major Selloffs In Canadian Dollar, Mexican Peso, Says Trump Tariffs Threaten USMCA Agreement

Editor&#8217;s note: This story was updated to add missing detail in the introduction and further updated to reflect approval of a cease-fire deal by Israel&#8217;s cabinet and U.S. President Joe Biden&#8217;s Tuesday afternoon announcement. Stock price action in the story has been updated and exchange and ticker info for the ISRA ETF has been corrected as well. 



The governments of Israel and Lebanon have accepted a cease-fire deal, President Joe Biden said Tuesday. 



&#8220;Today I have some good news to report from the Middle East,&#8221; Biden said, adding that he spoke with the prime ministers of Israel and Lebanon. 



&#8220;I am pleased to announce that their governments have accepted the U.S. proposal to end the devastating conflict between Israel and Hezbollah,&#8221; said Biden, who made the remarks in the White House Rose Garden. 



The cease-fire is set to take effect at 4 a.m. Wednesday, Biden said.



Hezbollah has not immediately commented on the deal announcement, the New York Times reported. Lebanon&#8217;s government does not control the Hezbollah militant group. 



The deal calls for a 60-day truce, The New York Times reported, and would be overseen by the U.S., United Nations and others. Israel would withdraw forces from Lebanon and Hezbollah would move fighters to north of the Litani River.



Strikes between Israel and Hezbollah have continued during the cease-fire negotiations.



What Happened: The short-term proposal is to pause hostilities for 60 days but with the intention of a lasting truce, according to <a href="https://www.cnn.com/world/live-news/israel-hezbollah-ceasefire-deal-gaza-war-11-26-24-intl-hnk/index.html">CNN</a>, which cited an Israeli official. 



Israeli Prime Minister Benjamin Netanyahu offered three reasons for the cease fire, one being to shift focus to Iran, replenish Israeli troops and put greater pressure on Hamas to release the hostages that were captured <a href="https://www.benzinga.com/news/23/10/35136071/israel-under-siege-unprecedented-hamas-attack-sparks-intense-clashes-netanyahu-says-we-are-at-war">on Oct. 7, 2023</a>.



See Also: <a href="https://www.benzinga.com/24/11/42198266/crude-oil-moves-lower-dicks-sporting-goods-earnings-top-views">Crude Oil Moves Lower; Dick&#8217;s Sporting Goods Earnings Top Views</a>



Why It Matters: Not everyone is so confident the cease-fire will work.



Per the <a href="https://www.nytimes.com/live/2024/11/26/world/israel-hezbollah-lebanon-cease-fire">New York Times</a>, Israel&#8217;s national security minister Itamar Ben-Gvir stressed the need for a "security zone" inside Lebanon to defend against Hezbollah. Otherwise, the two countries risk another war in the future, he said. 



Ben-Gvir did not indicate that a cease-fire decision would cause him to leave Netanyahu's coalition.



<h3 class="wp-block-heading">Market Reactions</h3>



Oil prices were trading down Tuesday, with the United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>) 0.65% lower at last check. 



Israeli stocks, as monitored through the VanEck Israel ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ISRA#NYSE">ISRA</a>) are up 23.5% year-to-date.



Other oil ETFs were in the red at last check Tuesday afternoon.



ProShares Ultra Bloomberg Crude Oil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UCO#NYSE">UCO</a>) fell by 0.93%, SPDR S&amp;P Oil &amp; Gas Exploration &amp; Production ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOP#NYSE">XOP</a>) was down 0.75% ahead of the closing bell and MicroSectorsTM Oil &amp; Gas Exploration &amp; Production 3X Leveraged ETNs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OILU#NYSE">OILU</a>) saw a 0.45% drop, according to <a href="https://pro.benzinga.com">Benzinga Pro</a>.



Now Read:



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<li><a href="https://www.benzinga.com/24/11/42198583/will-trump-lead-us-into-trade-war-with-mexico-president-claudia-sheinbaum-rebukes-threats">Will Trump Lead US Into Trade War With Mexico? President Claudia Sheinbaum Rebukes Threats</a></li>
</ul>



Image: Shutterstock.

ISRA

OILU

Ceasefire Deal Between Israel, Hezbollah Takes Effect Wednesday: Biden

Federal Reserve policymakers unanimously decided to reduce interest rates by 25 basis points to a range of 4.5%-4.75% during their November meeting, as they expressed confidence that inflation was moving sustainably toward their 2% target, according to <a href="https://www.benzinga.com/topic/interest-rates">meeting minutes released Wednesday.</a>



Participants highlighted several factors expected to maintain downward pressure on inflation, including diminishing business pricing power, the Fed&#8217;s restrictive monetary policy stance, and well-anchored long-term inflation expectations. 



<h3 class="wp-block-heading">Easing Inflation, But Core Pressures Persist</h3>



The minutes revealed that nearly all participants believed the latest data supported the view that inflation was steadily moderating, albeit with volatility in month-to-month readings. 



Inflation, they noted, had eased significantly from its peak. However, core inflation measures—excluding volatile food and energy prices—remained &#8220;somewhat elevated.&#8221;



Policymakers also discussed upside risks to inflation, including potential disruptions in global supply chains due to geopolitical events, a faster-than-anticipated loosening of financial conditions, unexpectedly robust consumer spending, persistent shelter price increases, and surging insurance costs across health, automotive, and housing sectors.



<h3 class="wp-block-heading">Resilient Economy and Labor Market Underpin Consumer Spending</h3>



Economic data reviewed at the meeting pointed to stronger-than-expected growth in consumer spending and overall economic activity. 



While participants generally agreed that the labor market remained solid, they emphasized the importance of closely monitoring indicators for signs of softening, which could influence the Fed&#8217;s future policy direction.



&#8220;Participants remarked that consumption had been supported by a solid labor market, rising real wages, and elevated household wealth,&#8221; the minutes stated. &nbsp;



<h3 class="wp-block-heading">Diverging Views on Monetary Policy Adjustments</h3>



The minutes also shed light on varying perspectives regarding the Fed&#8217;s next steps. 



While some participants suggested the central bank could pause its easing cycle and hold rates at restrictive levels if inflation remained sticky, others indicated that policy easing could be accelerated if economic conditions weakened, such as a downturn in the labor market or a notable slowdown in economic activity.



&#8220;Many participants observed that uncertainties concerning the level of the neutral rate of interest complicated the assessment of the degree of restrictiveness of monetary policy and, in their view, made it appropriate to reduce policy restraint gradually,&#8221; according to the November minutes. 



<h3 class="wp-block-heading">Market Reactions</h3>



The release of the Fed meeting minutes had little impact on short-term interest rate markets. 



Fed funds futures continued to show a 59% probability of another 25-basis-point rate cut in December, unchanged from market expectations prior to the minutes&#8217; publication.



The U.S. dollar index (DXY), tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), held steady, gaining 0.2% on the day. Meanwhile, Treasury yields saw marginal changes, with the 10-year Treasury yield broadly holding at 4.32%.



The S&amp;P 500 index – tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) – also held its marginal session gains, up 0.3%. 



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Image created using artificial intelligence via Midjourney.

Fed Minutes Reveal 'Confidence' In Inflation Reduction, Yet Flag Divergent Views On Interest Rate Path Ahead

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