Leading cryptocurrencies traded flat on Wednesday as Federal Reserve Chair Jerome Powell&#8217;s positive comments regarding the industry.



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><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>0.88%</td><td>$84,097.68</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>-0.11%</td><td>$1,584.40</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>+0.70%</td><td>$0.1548</td></tr></tbody></table></figure>



What Happened: Bitcoin reached a high of $85,428.28 in the afternoon but reversed sharply to $83,000, as trading volume dipped 1.28% in the last 24 hours.



Ethereum also had a choppy session, bouncing around $1,500, with the exception of a brief jump above $1,600.



Bitcoin&#8217;s market dominance increased to 63.1%, while Ethereum&#8217;s share fell to 7.2%.



Over $278 million was liquidated from the market in the last 24 hours, with bullish bets accounting for $160 million.



Bitcoin&#8217;s Open Interest dropped 0.13% in the last 24 hours, while the Long/Short Ratio on Binance indicated a higher percentage of traders positioned bullish on the apex cryptocurrency.



The market mood remained one of "Fear," according to the Crypto Fear and Greed Index.



Top Gainers (24-Hours)



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:30 p.m. ET)</td></tr><tr><td>Core (CORE)</td><td>15.67%</td><td>$0.609</td></tr><tr><td>Fartcoin (FARTCOIN)</td><td>11.80%</td><td>$0.9025</td></tr><tr><td>Raydium (RAY)</td><td>11.54%</td><td>$2.29</td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $2.65 trillion, following a marginal increase of 0.41% in the last 24 hours.



Stocks sold off sharply on Wednesday. The Dow Jones Industrial Average plunged 699.57 points, or 1.73%, to close at 39,669.39. The S&amp;P 500 lost 2.24%, ending at 5,275.70, while the tech-focused Nasdaq Composite retreated 3.07% to close at 16,307.16.



The market shuddered after Fed Chair Powell <a href="https://www.benzinga.com/economics/macro-economic-events/25/04/44848474/fed-chair-powell-says-tariffs-lead-to-temporary-rise-in-inflation">hinted at the growing risk of higher inflation and slower growth</a> due to President Donald Trump's tariffs.



The probability of interest rates remaining unchanged at next month&#8217;s central bank meeting rose to 83.1% from 81.4% the day before, <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">according </a>to the CME FedWatch tool.



In another development, Powell said that the U.S. was preparing <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44850021/fed-chair-powell-says-crypto-and-banking-rules-will-loosen-as-sector-matures">to relax certain cryptocurrency and banking rules</a> and that the industry has matured and become more mainstream.



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



Analyst Notes: Popular on-chain analytics firm CryptoQuant noted that the pace of Bitcoin accumulation has reached a two-month low, while outflows have increased.



"Whale holdings fell by 30,000 BTC this week. Miner outflows hit 15,000 BTC on April 7 as margins sank to 33%. Accumulation is now at its lowest pace since February," CryptoQuant added.



<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">Whale holdings fell by 30K BTC this week. Miner outflows hit 15K BTC on April 7 as margins sank to 33%. Accumulation is now at its lowest pace since February. <a href="https://t.co/3CcbzfO5x4">pic.twitter.com/3CcbzfO5x4</a>&mdash; CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1912484962235752850?ref_src=twsrc%5Etfw">April 16, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Amid Ethereum's stagnation, influential cryptocurrency analyst Ali Martinez identified levels of interest to watch for.



"$1,528.50 is a key support level for Ethereum, where 2.61 million addresses accumulated over 4.82 million $ETH," Martinez stated.



<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">$1,528.50 is a key support level for <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a>, where 2.61 million addresses accumulated over 4.82 million <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>, as shown by on-chain data from <a href="https://twitter.com/intotheblock?ref_src=twsrc%5Etfw">@intotheblock</a>. <a href="https://t.co/HRnfADqqcR">pic.twitter.com/HRnfADqqcR</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1912567919533588523?ref_src=twsrc%5Etfw">April 16, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo Courtesy: Paopano On Shutterstock.com



Read Next:    



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<li><a href="https://www.benzinga.com/25/04/44849610/bitcoin-miners-buckle-under-april-price-pressure-but-jp-morgan-analyst-says-mara-cleanspark-held-strong">Bitcoin Miners Buckle Under April Price Pressure, But JP Morgan Analyst Says MARA, CleanSpark Held Strong</a></li>
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Bitcoin, Ethereum, Dogecoin Steady Amid Stock Meltdown As Fed Chair Jerome Powell Signals Crypto Rules Relaxation: Popular Analyst Identifies Key Support Level For ETH

On Wednesday, Cathie Wood-led Ark Invest made significant trades, notably acquiring shares in Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>), ARK 21Shares Bitcoin ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKB#BATS">ARKB</a>), and 3iQ Solana Staking ETF.



The Robinhood Trade



Ark Invest&#8217;s flagship fund, ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>), purchased 60,266 shares of Robinhood Markets Inc. on Wednesday. The trade, valued at approximately $2.45 million, was made as Robinhood&#8217;s stock <a href="https://www.benzinga.com/news/25/04/44850529/whats-going-on-with-robinhood-markets-hood-stock-2">faced a sharp decline</a>. The stock closed at $40.66, down 7.76% on Wednesday following Powell&#8217;s remarks about inflation and trade tariffs, which spooked the market. Robinhood, heavily reliant on retail trading, is particularly sensitive to such market volatility. <a href="https://www.benzinga.com/news/25/04/44850529/whats-going-on-with-robinhood-markets-hood-stock-2">Robinhood&#8217;s user</a> <a href="https://www.benzinga.com/news/25/04/44850529/whats-going-on-with-robinhood-markets-hood-stock-2">base</a>, largely consisting of retail investors, may reduce trading activity in uncertain environments, adding pressure on the company&#8217;s performance.



The ARK 21Shares Bitcoin ETF Trade



In another notable move,  ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>) fund sold 31,817 shares of the ARK 21Shares Bitcoin ETF. The ETF closed at $84.15, marking a slight increase of 0.38%. This trade, worth $2.7 million, comes as Bitcoin ETFs are showing signs of recovery after a challenging period. According to recent reports, Bitcoin ETFs <a href="https://www.benzinga.com/25/04/44850800/bitcoin-holds-steady-as-etf-inflows-continue-and-state-reserve-efforts-face-setback">recorded $76.4 million</a> in net inflows, signaling a rebound after significant outflows. Over 24 hours, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) traded nearly 1% higher at $84,350.98.



The 3iQ Solana Staking ETF Trade



Ark Invest also made a significant purchase of 500,000 shares of the 3iQ Solana Staking ETF across its Ark Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>) and ARKW funds. SOLQ.U closed at $10.34 on Wednesday, making the Ark transaction worth $5.2 million. The ETF began trading on the Toronto Stock Exchange on Wednesday, with its largest unitholders including Anthony Scaramucci founded and managed SkyBridge Capital. It invests in long-term holdings of Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), which are bought from over-the-counter counterparties and aims to give investors &#8220;attractive staking rewards, according to a statement released by 3iQ, which calls itself the world&#8217;s first Digital Assets Managed Account Platform. Over a 24-hour period, Solana shot up over 5% to $132.08.



Other Key Trades:



<ul>
<li>Sold 234,788 shares of UiPath Inc from the ARKF fund.</li>



<li>Sold 9,610 shares of Repare Therapeutics Inc from the ARKG fund.</li>



<li>Sold 88 shares of Prime Medicine Inc from the ARKK fund.</li>
</ul>



Benzinga Edge Stock Rankings show Robinhood Momentum in the 98th percentile and Growth in the 92nd percentile. Want to know how Interactive Brokers stacks up? <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here</a> and find out.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="793" height="100" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/16213737/Screenshot-2025-04-17-at-10.37.14.png" alt="" class="wp-image-875468" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/16213737/Screenshot-2025-04-17-at-10.37.14.png 793w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/16213737/Screenshot-2025-04-17-at-10.37.14-300x38.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/16213737/Screenshot-2025-04-17-at-10.37.14-768x97.png 768w" sizes="(max-width: 793px) 100vw, 793px" /></a></figure>



Photo Courtesy: viewimage on Shutterstock.com



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<li><a href="https://benzinga.com/25/04/44831978/senator-josh-hawley-proposes-historic-tax-cuts-for-americans-earning-below-80k-annually-republicans-should-fix-th" target="_blank" rel="noreferrer noopener">Josh Hawley Proposes &#8216;Historic&#8217; Tax Cuts For Americans Earning Below $80K Annually: &#8216;Republicans Should Fix This 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>

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Cathie Wood's Crypto Shuffle: Pours $5.2 Million Into Newly Listed Solana Staking Fund, Dumps Bitcoin ETF And Buys Robinhood Dip

U.S. stock futures posted modest gains on Wednesday night, recovering from a steep decline in the afternoon session following Federal Reserve chair Jerome Powell&#8217;s latest comments on the market, tariffs, and inflation.



The S&amp;P 500 Futures are up 0.51% at 5,333, the Nasdaq Futures&nbsp;trade at 18,500, up 0.63%, and the&nbsp;Dow Jones&nbsp;is&nbsp;at 40,023, up 0.43%. This comes amid all three indices ending down in the spot market on Wednesday, by 2.24%, 3.07%, and 1.73%, respectively.



See More: <a href="https://www.benzinga.com/etfs/specialty-etfs/25/04/44854372/gold-hits-new-record-highs-as-safe-haven-demand-climbs-2-ways-to-invest">Gold Hits New Record Highs As Safe-Haven Demand Climbs: 2 Ways To Invest</a>



Japan&#8217;s benchmark Nikkei 225 opened up 0.27% on Thursday morning, led once again by tech and export-linked stocks.



The U.S. Dollar Index is up 0.13% at the time of writing, after having slid by 0.70% following Fed Chair Jerome Powell&#8217;s <a href="https://www.benzinga.com/government/regulations/25/04/44850992/stocks-sink-as-powell-dismisses-fed-put-safety-net-gold-extends-massive-lead-over-nasdaq">comments on the tariffs</a>, stating that it can lead to &#8220;higher inflation and slower growth&#8221; at the Economic Club of Chicago.



Oil prices witnessed a late rally on Wednesday, with Brent Crude Oil up 0.49%, now trading at $66.17 per barrel, and the U.S. West Texas Intermediate up by 0.67%. This comes after the U.S. Treasury Department decided to sanction a &#8220;teapot&#8221; refinery in China, Shandong Shengxing Chemical Co., for purchasing close to a billion dollars worth of crude oil from Iran, according to a report by Reuters.



With Washington restarting negotiations with Tehran on its nuclear program, the move is aimed at applying additional pressure. U.S. Treasury Secretary Scott Bessent said, &#8220;Any refinery, company, or broker that chooses to purchase Iranian oil or facilitate Iran's oil trade places itself at serious risk&#8221; in a press release by the department.



Concerns of a tighter supply in the global markets led to a rally in the commodity, which has been reeling under pressure throughout this month owing to tariffs and growing recessionary concerns, <a href="https://tradingeconomics.com/commodity/crude-oil%20">according</a> to TradingEconomics.



Besides this, the markets will be closely watching the earnings results of UnitedHealth Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>), Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>), and American Express Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>) on Thursday.



Photo Courtesy: tadamichi on Shutterstock.com



Read More: <a href="https://www.benzinga.com/etfs/specialty-etfs/25/04/44854262/chipwrecked-nvidias-export-ban-triggers-etf-meltdown-and-one-big-winner">Chipwrecked: Nvidia&#8217;s Export Ban Triggers ETF Meltdown (And One Big Winner)</a>

NFLX

Scott Bessent Warns Of 'Serious Risk' To Anyone Buying Iran Oil — Crude Moves Up, US Futures And Nikkei Post Modest Gains

Risk sentiment took a sharp blow Wednesday afternoon after Federal Reserve Chair Jerome Powell linked rising tariffs to higher inflation and slower growth, while making it clear the central bank has no intention <a href="https://www.benzinga.com/economics/macro-economic-events/25/04/44848474/fed-chair-powell-says-tariffs-lead-to-temporary-rise-in-inflation">of cushioning market losses.</a>



In remarks at the Economic Club of Chicago, Powell said the inflationary effects of tariffs could be more persistent than previously thought, and warned that current policy uncertainty makes it difficult to gauge their full impact. 



Most notably for Wall Street, Powell addressed the notion of a so-called "Fed put"—the belief that the central bank would intervene if markets drop sharply—and offered a blunt response: "I'm going to say no."



That single line pushed traders to recalibrate expectations for any near-term monetary support.



<h3 class="wp-block-heading">Stocks Tumble As Chipmakers Extend Losses</h3>



By 3:15 p.m. ET, the S&amp;P 500 – as tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) – had dropped 3.1% to 5,230 points, while the Nasdaq 100 – tracked by the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) plunged 4.1% to 18,050, dragged down by the tech-heavy weighting of the index. 



The Dow Jones Industrial Average shed 838 points, or 2.1%, and the Russell 2000 small-cap index also fell 2.1%.



Nearly every sector turned red, with the Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) nosediving 5%. Energy stocks were the sole exception, buoyed by higher crude prices and safe-haven commodity demand.



Semiconductors were particularly hard hit following fresh export restrictions on Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) chips to China. 



The iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) plummeted 6.8%, with Nvidia and Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) both down around 10%.



<h3 class="wp-block-heading">Gold Shines In Flight To Safety</h3>



As stocks tumbled, gold prices climbed, continuing their powerful 2025 rally. The precious metal hit new record highs, rising to over $2,350 an ounce, and is now up 26% year to date. 



With the Nasdaq 100 down 23% over the same period, gold has outperformed the tech index by nearly 50% in less than four months.



Gold's appeal has grown amid mounting inflation concerns, policy uncertainty, and geopolitical tension.



<h3 class="wp-block-heading">Powell: No Market Rescue This Time</h3>



Powell's refusal to endorse the "Fed put" marked a sharp shift in tone from the central bank's more accommodative stance in past downturns. While he acknowledged market volatility, he said both equity and bond markets were "functioning" and "orderly."



"Markets are struggling with a lot of uncertainty, and that means volatility," Powell said. "But having said that, markets are functioning."



The Fed chair emphasized that rate decisions will continue to focus on economic data, especially inflation and employment, and not on asset prices.



Top S&amp;P 500 Gainers:



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><thead><tr><th>Name</th><th>Last</th><th>Chg %</th></tr></thead><tbody><tr><td>Abbott Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABT#NYSE">ABT</a>)</td><td>129.93</td><td>+2.94%</td></tr><tr><td>APA Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APA#NYSE">APA</a>)</td><td>15.27</td><td>+2.52%</td></tr><tr><td>Devon Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>)</td><td>29.21</td><td>+2.40%</td></tr><tr><td>Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>)</td><td>55.88</td><td>+2.37%</td></tr><tr><td>Diamondback Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NYSE">FANG</a>)</td><td>129.98</td><td>+2.23%</td></tr></tbody></table></figure>



Top S&amp;P 500 Losers:



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><thead><tr><th>Name</th><th>Last</th><th>Chg %</th></tr></thead><tbody><tr><td>Advanced Micro Devices Inc.</td><td>85.90</td><td>-9.86%</td></tr><tr><td>Nvidia Corp.</td><td>101.25</td><td>-9.76%</td></tr><tr><td>J.B. Hunt Transport Services Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBHT#NYSE">JBHT</a>)</td><td>123.21</td><td>-8.81%</td></tr><tr><td>Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>)</td><td>89.90</td><td>-8.63%</td></tr><tr><td>KLA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>)</td><td>622.99</td><td>-7.87%</td></tr></tbody></table></figure>



Read now: 



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<li><a href="https://www.benzinga.com/25/04/44844084/nvidias-h20-chip-ban-could-lead-to-manageable-sales-drop-bank-of-america-says">Nvidia H20 Chip Ban Could Lead To &#8216;Manageable&#8217; Sales Drop, Bank Of America Says</a></li>
</ul>



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Stocks Sink As Powell Dismisses 'Fed Put' Safety Net, Gold Extends Massive Lead Over Nasdaq

Gold has long been a cornerstone of personal finance strategies, prized for its role as a hedge against inflation and economic uncertainty. Investors have two primary avenues to gain exposure to gold: purchasing physical gold or investing in gold exchange-traded funds. 



Each approach offers unique advantages and drawbacks, making the right choice dependent on financial goals, risk tolerance and <a href="https://www.benzinga.com/economics/macro-economic-events/25/04/44836846/wall-streets-mood-turns-bleak-as-global-recession-fears-mount-fund-managers-slash-us-exposure">investment horizon.</a>



Physical Gold: Physical gold refers to tangible assets, such as gold bars, coins and jewelry. An investment in physical gold is appealing to some investors as it is independent of banks or financial institutions with no digital records or intermediaries involved. Gold's intrinsic value and historical role as a store of wealth also make it appealing for generational wealth transfer.&nbsp;



Read Next: <a href="https://www.benzinga.com/news/global/25/04/44841158/hongkong-post-stops-us-package-service-china-e-commerce-stocks-drop">Hongkong Post Stops US Package Service, China E-Commerce Stocks Drop&nbsp;</a>



"Amidst the recent stock market turbulence, we're seeing renewed interest in tangible, physical assets that exist outside traditional financial structures," Tim Schmidt, the founder of Gold IRA Custodians,<a href="https://www.cnbc.com/2025/04/11/is-this-a-good-time-to-buy-gold-experts-weigh-in.html"> told </a>CNBC.&nbsp;



However, the costs of secure storage and insurance can be high and the market for physical gold can be relatively illiquid with transactions sometimes incurring delays before a buyer or seller can be found. Also, physical gold does not generate interest or dividends so returns can only be realized when the gold is sold.&nbsp;



Gold ETFs: Investing in a gold-focused <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44836076/gold-fund-inflows-smash-record-with-80-billion-in-2025-these-etfs-are-riding-the-3300-surge">exchange-traded fund </a>can provide investors with exposure to gold's price movements without the need to own or store the metal directly.&nbsp;



"For most [investors], I would say a gold bullion-backed ETF makes the most sense," Sameer Samana, head of global equities and real assets at the Wells Fargo Investment Institute, told CNBC.



Both the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) and iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>), are backed by physical gold bullion held in secure vaults, and each share represents a specific amount of gold. 



Investors can also find exposure to gold through the VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>), tracking the performance of the NYSE Arca Gold Miners Index, and the VanEck Junior Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDXJ#NYSE">GDXJ</a>) which focuses on smaller, early-stage gold miners, offering higher growth potential but increased volatility. 



Read Next:&nbsp;



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Photo: Shutterstock

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Gold Hits New Record Highs As Safe-Haven Demand Climbs: 2 Ways To Invest

While President Trump&#8217;s <a href="https://www.benzinga.com/25/04/44729499/rh-rallies-after-trump-pauses-tariffs-that-triggered-40-selloff">90-day tariff pause</a> announced last week calmed the worst of the market&#8217;s recent volatility, it's still a market that leaves even the most stalwart investors uncomfortable. Volatility and uncertainty appear entrenched now that the trade war between the US and China is escalating, but that doesn&#8217;t mean you have to sit on the sidelines.



There&#8217;s a whole class of stocks that is barely affected by the US-China spat.



​​Here are five &#8211; and each one pays a nice dividend, too.



Income investing has been a popular theme lately and you don't need to stick to domestic equities to find quality dividends. Today, we'll look at five international stocks with enticing (yet sustainable) dividends whose profits are unlikely to get bogged down by tariffs.



<h2 class="wp-block-heading">Mizuho Financial Group Inc.&nbsp;</h2>



Once the largest asset manager in the world, Mizuho Financial Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MFG#NYSE">MFG</a>) is still the third largest bank in Japan with nearly $2 trillion in assets (254 trillion yen) and over 59,000 employees. Based in Tokyo, Mizuho splits its divisions into four groups: Retail, Corporate, Wealth and Asset Management and Specialty Affiliates (such as the Mizuho Research Institute). The company's current market cap in dollars is just under $61 billion.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdD5uBfLKiF-GsMqc2-akZEwM1I7JfVwVmvQGiqZyzD9Wtvft7BdArnG7pwg26q5SvzaffHxtTCoYqD3U5NaQPbB4xf_MtdsAkQvQsPCFbR2MW8WTRLc3orQwU4-4DvXXc7SyDp3Q?key=_zL7ppl5XDh7Ks-FiCwdajeQ" alt=""/></figure>



Mizuho has strong fundamentals and was continuing on an uptrend to start 2025 before crashing in the aftermath of the White House's tariff announcements. The stock trades at just nine times forward earnings with a Price-to-Book (P/B) value of 0.91. MFG pays a 3.32% dividend yield with a dividend payout ratio (DPR) under 28, indicating a sustainable payout with room for growth. Benzinga Edge also grades MFG at a 98.94 for Quality, 86.30 for Momentum, and 73.54 for Growth.



On the technical side, MFG had been using the 50-day moving average as a support level before April's crash, but recently triggered an oversold signal on the Relative Strength Index (RSI). If the stock can break through the 200-day moving average here, there could be more upside ahead in addition to the healthy dividend.



<h2 class="wp-block-heading">SK Telecom Co Ltd.&nbsp;</h2>



SK Telecom (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKM#NYSE">SKM</a>) is one of the largest telecommunication firms in South Korea, with more than $13 billion (USD equivalent) in annual sales and a market cap approaching $9 billion. It's also one of the most prominent sports sponsors in the country (plus esports through a partnership with Comcast), making it one of the most recognizable South Korean brands worldwide.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcPOyF1GCYfudyCsmXQrGIP4aWuHEleayr__lhxg70cz6eXo20_ZyTDD3BSyvckFu3dubD1PAdXAyF_Zpd_0fKIprbrNbUGN4wNAEXLz7OWXJOOofRDZjzoFOsgeH2TJ55VQpBr?key=_zL7ppl5XDh7Ks-FiCwdajeQ" alt=""/></figure>



SKM is also a powerhouse in Korean markets, trading shares on the Korea Exchange and the NYSE. SK Telecom trades at an affordable valuation: the forward P/E is just 9.99, and the Price-to-Sales (P/S) ratio is just 0.64. Telecom has always been a thin-margin business, but SKM posted a 6.89% profit margin last quarter and pays a hefty 6.47% dividend yield (with an elevated yet sustainable 65.7% DPR).



The weekly stock chart also shows a MACD cross, which could trigger the next upward momentum swing. SK Telecom grades out well on Benzinga Edge, too, highlighted by a 99.68 Quality score and 96.10 Value score.



<h2 class="wp-block-heading">Banco Santander S.A. ADR&nbsp;</h2>



Founded over 160 years ago, Banco Santander (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAN#NYSE">SAN</a>) is one of Spain's largest banks and the world's 49th-largest public company as of 2023. Its current market cap sits at approximately $101 billion; it generates more than 70% of its revenue through its Retail Banking segments. Over the last 12 months, the bank reported more than $145 billion in sales and $13.6 billion in net income.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXebQQIGOiJw5pfEM0rN2rRmvAwBLpaqZ1nlO7j9qTq1gDR_izYSojLJTxhh6AV4eD7YN79XDenMgfiU3HlaRKqx8gNpO8vXWsKHwvVyqWpch-JzbGR4Zd8gHEbzphk64plPlgYMOQ?key=_zL7ppl5XDh7Ks-FiCwdajeQ" alt=""/></figure>



Banco Santander's dividend is as safe and sturdy as it gets within the European banking sector. The current yield is 3.52% with a DPR under 20%, and the company has grown its payout by more than 50% over the last three years. The stock trades at just 6.8 times forward earnings with a P/S ratio of 0.70 and a P/B value of 1.00. The share price also recently broke back above the 50-day moving average, a positive signal for upward momentum.



<h2 class="wp-block-heading">Jiayin Group Inc.&nbsp;</h2>



How will a Chinese consumer finance company avoid the strictest of Donald Trump's tariffs? By focusing on its domestic products! Jiayin Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JFIN#NASDAQ">JFIN</a>) is a fintech platform that connects lenders and borrowers on a proprietary platform, and consumer finance products could see a boost from Beijing's aggressive stimulus plans in 2025.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcWNuLOXMJb5Kjky--Rta-j4sDUuvodLk-7vLeaWGpNj7Ww_xwe8FCXPNEzZNnbL9PkSjwHL6_eqKs9oXN5oIoa-RdHYbLT6sfFDaqN6-U9j9uTdVCBPbE3QpmoOVoG_14kk_Yj?key=_zL7ppl5XDh7Ks-FiCwdajeQ" alt=""/></figure>



JFIN currently yields a mouth-watering 7.89%, often too high to be sustainable. However, the company's DPR rate is just 17.8%, and the company's most recent earnings release noted impressive 65% gross margins. JFIN also has a 4.18 P/E ratio and a 0.35 P/S ratio, plus Benzinga Edge scores of 96.17 in Value, 96.60 in Momentum, and 79.21 in Growth. The daily stock chart shows a strong uptrend still in place, with the 50-day MA above the 200-day MA and the RSI showing a comfortable number under 50.



<h2 class="wp-block-heading">Gold Fields Ltd. ADR&nbsp;</h2>



One asset that hasn't been rocked by volatility is gold, which continues to make new all-time highs in 2025. If you don't want to own gold bullion or U.S. gold miners, you can still get exposure through international stocks, and with Gold Field Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GFI#NYSE">GFI</a>), you'll earn a dividend yield above 2% as well.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXchJ5TjyU5GC9qrhC1otwSGwgvUIcWuiLOlP8bamG_yJtC1zCxDDftRP6phCTocDrtnXqDHg6_rNfpHKHpFYLACbzLXg8GDlCGAl1oNHDX59m1q5cVtuNnuF1qnhX0h72oZd2qC?key=_zL7ppl5XDh7Ks-FiCwdajeQ" alt=""/></figure>



Gold Fields has mines in South Africa, Australia, Ghana and Peru. The company has had numerous successful hauls over the last few years and currently expects EPS growth of 75% this year. The DPR is sustainable at 26%, and the stock trades at 8.7 times forward earnings. Technical signs also point to more upside ahead as well.



A golden cross (50-day MA above 200-day MA) occurred in early February, and the stock price recently challenged the 50-day MA on a dip. But the line held firm as support, triggering the next move upward. As long as gold continues to be a popular trade, gold stocks like GFI could see higher prices and strong dividends ahead.



<h2 class="wp-block-heading">1,400% Gains While Others Sat in Cash</h2>



Last week, Matt's Inner Circle was alerted to six major trade opportunities—including 1,400% on SQQQ—while others waited for "clarity." Volatility is our edge, not our enemy. Get the <a href="https://www.benzinga.com/premium/ideas/7-day-free-trial-matt-maley-inner-circle/?el=ResearchDaily&amp;he={{email}}&amp;adt_ei={{email}}&amp;utm_adType=SponsorAd&amp;utm_ad=RD0417&amp;utm_campaign=7daytrial">next alert for free</a> before the market moves again.



Editorial content from our Expert contributors is intended to be information for the general public and not individualized investment advice. Editors/contributors are presenting their individual opinions and strategies, which are neither expressly nor impliedly approved or endorsed by Benzinga.



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Opinion

JFIN

5 Tariff-Resistant International Stocks With Dividends

Editor's note: This article has been updated to include remarks from Federal Reserve Chair Jerome Powell's Q&amp;A session.



Federal Reserve Chair Jerome Powell hinted the growing risk of higher inflation and slower growth tied to unexpectedly large trade tariffs rolled out earlier this month by <a href="https://www.benzinga.com/topic/donald-trump">the Donald Trump administration.</a>



In remarks delivered Wednesday at the Economic Club of Chicago, Powell said that growth has softened in the first quarter of 2025, while inflation is &#8220;still running a bit above our 2% objective.&#8221;



The Fed Chair highlighted that surveys from households and businesses showed a notable deterioration in sentiment. 



Uncertainty around trade policy has been the dominant driver, causing many forecasters to cut their full-year outlooks. Nevertheless, most estimates still point to moderate, positive growth ahead.



&#8220;The new administration is in the process of implementing a substantial policy changes in four distinct areas: Trade immigration, fiscal policy and deregulation. These policies are still evolving and their effects on the economy remain highly uncertain,&#8221; Powell said.



<h3 class="wp-block-heading">Inflation Eased But Tariffs Pose Fresh Risks</h3>



Inflation is cooling, but not fast enough. Total Personal Consumption Expenditures (PCE) prices—the Federal Reserve's preferred inflation gauge—rose 2.3% year-over-year through March. Core PCE, which excludes food and energy, climbed 2.6%.



These figures are well below the 2022 highs but still exceed the Fed's 2% target. Powell noted that inflationary progress continues "at a gradual pace," and that the central bank remains alert to any threats of reacceleration.



"Tariffs are highly likely to generate at least a temporary rise in inflation," he said. 



While some of that impact may be short-lived, Powell cautioned that it could persist depending on how long the price pressures take to pass through the economy.



The Fed's dual mandate—maximum employment and price stability—could be tested in the months ahead if inflation continues to rise even as growth slows. Should the two goals come into conflict, Powell said the Fed would weigh how far the economy is from each and the likely time needed to meet both targets.



&#8220;For the time being, we are well positioned to wait for greater clarity before considering any adjustments to our policy stance,&#8221; Powell said.



<h3 class="wp-block-heading">Powell Fields Questions On Tariffs, Labor, Market Volatility</h3>



During the Q&amp;A session, Powell reiterated the Fed's role in ensuring that inflation shocks from tariffs remain temporary. "Our role is to make sure that this will be a one-time increase in prices and not something that turns into an ongoing inflation process," he said.



Asked whether tariffs could result in a supply shock, Powell acknowledged the risk of persistence. "It can take time to resolve, and what would have been a one-time inflation shock could be extended—perhaps more persistent—and we would worry about that."



On immigration and labor market dynamics, Powell noted a decline in immigration could tighten labor supply, but layoffs in government-funded sectors have not yet materially affected the national workforce of 170 million people. "We're really hearing significant layoffs in cities with universities and research hospitals," he said, though the total economic impact remains hard to quantify.



Regarding fiscal policy, Powell called the federal debt "unsustainable in the long term," while emphasizing that "no one really knows how much further we can go." He underscored the importance of bipartisan cooperation to address ballooning costs in Medicare, Medicaid and Social Security.



On market speculation about a so-called "Fed put"—the idea that the central bank would intervene if markets plunge—Powell was unequivocal: "I'm going to say no."



While he acknowledged that markets are currently facing high levels of uncertainty, especially around policy changes and inflation, he made clear that the Fed's decisions are not driven by equity market volatility alone. 



He indicated that both equity and fixed-income markets are functioning in an orderly way, dismissing speculations of Treasuries dumping from foreign investors.



&#8220;Market is processing historically unique developments,&#8221; he said.



The Fed Chair also confirmed that the central bank stands ready to provide U.S. dollars to foreign central banks via its standing swap lines in the event of global liquidity strains.



As for artificial intelligence, Powell described the technology's potential as "truly remarkable," but cautioned that its long-term labor impact remains uncertain. "It may be the case that AI replaces more jobs than it creates—we just don't know," he said.



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<iframe loading="lazy" title="&#x1f534;WATCH LIVE: Fed Chair Jerome Powell at the Economic Club of Chicago &#x7C; April 16th, 2025" width="500" height="281" src="https://www.youtube.com/embed/7YMyBPIRh28?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div></figure>



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Photo courtesy of the Federal Reserve.

'I'm Going To Say No': Powell Rejects Idea Fed Would Rescue Falling Markets (UPDATED)

Several CEOs of the largest U.S. banks have recently expressed concerns about the economic fallout, market volatility and broader uncertainty resulting from President Donald Trump's<a href="https://www.benzinga.com/economics/macro-economic-events/25/04/44791485/bank-stocks-rebound-above-200-day-average-as-earnings-propel-dip-buyers"> new trade policies.&nbsp;</a>



Goldman Sachs Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) CEO David Solomon warned of uncertainty and potential turbulence ahead on the company&#8217;s earnings call Monday.&nbsp;



&#8220;This uncertainty around the path forward and fears over the potentially escalating effects of a trade war have created material risks to the U.S. and global economy,&#8221; Solomon told analysts<a href="https://www.benzinga.com/news/management/25/04/44802094/tariff-fears-pose-material-risks-to-us-and-global-economies-goldman-sachs-ceo-warns"> on the call</a>.&nbsp;



Read Next: <a href="https://www.benzinga.com/news/global/25/04/44841158/hongkong-post-stops-us-package-service-china-e-commerce-stocks-drop">Hongkong Post Stops US Package Service, China E-Commerce Stocks Drop&nbsp;</a>



Solomon also noted that he hears an even &#8220;greater sense of short-term concern&#8221; from CEOs located outside of the United States.&nbsp;



Last Friday, JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) CEO Jamie Dimon <a href="https://www.benzinga.com/news/management/25/04/44774273/jpmorgan-ceo-jamie-dimon-expects-sp-500-growth-forecast-to-be-cut">pointed out </a>that the analyst community has lowered the consensus S&amp;P 500 growth forecast from 10% to only 5% growth in 2025. He then predicted the forecast to be lowered even further in the near term.&nbsp;



&#8220;My guess is that it [will] be zero and negative five probably the next month," Dimon said.&nbsp;



Dimon has also stated that<a href="https://www.benzinga.com/news/management/25/04/44717888/jpmorgan-jamie-dimon-warns-recession-now-likely-outcome"> a recession</a> is now a &#8220;likely outcome&#8221; due to the tariffs, and he expects many companies to withdraw or revise their forecasts because of the unpredictability. He emphasized that while the U.S. remains economically strong, the tariff uncertainty challenges that stability and could have lasting negative consequences. 



&#8220;Take a deep breath, negotiate some trade deals," Dimon urged the Trump administration last week. "It could get worse if we don&#8217;t make progress."



Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) CEO Brian Moynihan spoke about <a href="https://www.benzinga.com/news/management/25/04/44829134/bank-of-america-ceo-says-consumers-are-resilient-while-business-owners-worried-as-we-face-a-changing-economy">the effects</a> of economic uncertainty on the mindset of the bank's business-owner clients.&nbsp;



&#8220;They&#8217;re worried about how this will affect their businesses and where they should invest. And I think that&#8217;s slowing down some of their decision paths right now,&#8221; he said, adding that some are considering changing growth plans as well.&nbsp;



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Shares of Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) tumbled more than 6% on Wednesday morning trading in New York after fresh U.S. export curbs on AI chips to China rattled the market, yet some Wall Street analysts see the pullback as <a href="https://www.benzinga.com/topic/expert-ideas">a rare buying opportunity.</a>



In a note shared Wednesday, Bank of America analyst Vivek Arya said the latest H20 chip restrictions to China, while unwelcome, were largely anticipated and pose only a "manageable risk" to Nvidia's sales outlook.



The investment bank reiterated a bullish stance on Nvidia, maintaining a Buy rating and a $160 price target, which implies a 42.6% upside from Tuesday's $112.20 close.



Despite a looming $5.5 billion charge and tighter U.S. export rules, Arya believes the company's deep AI moat and new product cycle could more than offset short-term pain.



<h3 class="wp-block-heading">Why Is Nvidia Taking A $5.5 Billion Hit?</h3>



Nvidia disclosed after the close on Tuesday that it will record a $5.5 billion first-quarter charge related to inventory, purchase commitments and reserves following a new U.S. government requirement. 



The policy mandates a license to ship H20 and equivalent AI chips to China and arms-embargoed countries.



The H20 chip, a specialized version of Nvidia's powerful AI hardware tailored to bypass earlier export rules, had emerged as a critical part of its China sales strategy. Yet, with the Trump administration tightening loopholes, those sales are in jeopardy.



Arya said the charge likely reflects "a high probability of H20 restriction" and a "low probability of future licenses," suggesting Nvidia has priced in the worst-case scenario.



<h3 class="wp-block-heading">How Much Could Nvidia Lose?</h3>



Bank of America estimates the H20 ban could lead to a manageable 5%-8% drop in sales and a 6%-10% hit to pro-forma earnings per share in fiscal year 2026 (calendar 2025). 



That's based on assumptions that H20 sales make up about 6%-10% of Nvidia's China revenue, which itself accounts for roughly 14% of total company sales.



Nvidia hasn't disclosed exact figures for H20, but Arya's model projects around $12 billion in sales from the chip for fiscal 2026—well above the $8 billion consensus from data platform Visible Alpha.



While the revenue loss is significant, Arya flagged positive offsets, including accelerating U.S. AI chip demand and strong pricing for Nvidia's next-generation GB300 Blackwell Ultra chips, which are expected to launch in the second half of 2025.



<h3 class="wp-block-heading">Is The Stock Undervalued?</h3>



Despite mounting geopolitical risks, Nvidia shares have already begun to price in much of the damage. According to Arya, the stock now trades at around 20 times expected 2025 earnings, down from its historical trough of 23-25 times.



He said that implies investors are now forecasting earnings of about $4 per share, well below the consensus estimate of $4.50 to $5. Arya argues this disconnect offers a compelling entry point, especially as AI chip demand from firms like OpenAI, Google, and Amazon remains robust.



"The global demand for leading-edge AI and Nvidia's unmatched platform leadership can continue to offset regional headwinds," Arya said.



<h3 class="wp-block-heading">What About Other Chipmakers?</h3>



The new rules won't just hit Nvidia. Arya said the increased AI export restrictions are likely to weigh on other semiconductor stocks with AI exposure, including Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), Arm Holdings Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>), Marvell Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>), Coherent Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COHR#NASDAQ">COHR</a>) and Lumentum Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LITE#NASDAQ">LITE</a>).



Washington may continue ratcheting up restrictions beyond China, and further controls could extend to semiconductor manufacturing equipment and design software, areas where the U.S. holds significant leverage.



Yet, despite the U.S.-China tech decoupling may be accelerating, Arya indicates the longer-term AI trend remains intact. 



"We believe AI remains the fastest growing secular growth opportunity in semis," he said, adding that recent volatility in Nvidia stock offers an &#8220;enhanced buying opportunity&#8221; rather than a reason to panic. 



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Analyst Color

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Nvidia H20 Chip Ban Could Lead To 'Manageable' Sales Drop, Bank Of America Says

Among the so-called <a href="https://www.benzinga.com/topic/magnificent-seven">Magnificent Seven tech giants</a>, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) holds a rare and ironic distinction: it's been beaten the hardest so far this year, yet it's the only one still standing with gains for the month.



While 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>), Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), and Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) all sport negative month-to-date performances in 2025, Tesla is the lone green candle.



The electric vehicle giant is up 6.76% MTD, but that's after being down 33% so far this year.



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<h2 class="wp-block-heading">From Worst To (Sort Of) First</h2>



Tesla's YTD performance reads like a comeback arc written for a Wall Street soap opera. No other Magnificent Seven stock has come close to the rollercoaster volatility that CEO Elon Musk's empire has endured. Nvidia stock, for instance, is down 18.88% YTD. Meta stockholders have been slapped with a nearly 12.97% loss. And even Apple, the tech titan with the largest market cap on Earth, is nursing a 17.10% drop YTD.



However, despite Tesla's shaky fundamentals, sky-high valuation (forward P/E of 100), ongoing scrutiny over demand, pricing and Musk's Twitter antics, the market seems unwilling to count the company out.



On a month-to-date basis, it is the only Mag 7 stock that is up 6.76%. Apple stock is down 5.54% MTD, Meta stock is 13.78%, and Microsoft stock is 0.76%.



<h2 class="wp-block-heading">Musk's Mojo Vs. Market Malaise</h2>



What gives? Some of Tesla's rebound can be chalked up to short covering, speculative trading and renewed optimism over the company's AI and robotics ambitions.



Meanwhile, the rest of the Mag 7 are getting dragged down by tariff troubles.



In a month where every other Mag 7 member is nursing wounds, Tesla somehow managed to walk away bloodied &#8211; but technically victorious. 



It's not the kind of win investors dream of, but in this market, staying green might just be the new gold.



Disclaimer: Price information as of 9 AM ET, Wednesday



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Tesla Is 2025's Biggest Mag 7 Bruise So Far, But Also The Only One Still In The Green

Retail sales in March grew at the fastest pace in over two years, underscoring how American consumers accelerated their spending ahead of anticipated price distortions stemming from <a href="https://www.benzinga.com/news/25/04/44826725/mark-cuban-says-trumps-tariffs-caused-companies-to-panic-buy-inventory-resulting-in-cost-cutting-and-job-losses">President Donald Trump&#8216;s tariffs</a>.



According to advance estimates from the U.S. Census Bureau, retail and food services sales rose to $734.9 billion in March 2025. That&#8217;s up 1.4% from the previous month. This marked a sharp acceleration from February's 0.2% gain and exceeded economists&#8217; expectations for a 1.3% increase.



Year-over-year, retail sales climbed 4.6%, the strongest annual growth since February 2023 and a notable improvement from the prior month's 3.1% increase.



The most significant contributor to the monthly surge was motor vehicle and parts dealers, with sales jumping 5.3%. Building materials and garden equipment stores followed with a 3.2% gain, while food services and drinking places rose 1.8%.



Not all segments saw growth. Sales at gasoline stations fell 2.5%, while department stores posted a modest 0.3% decline.



Excluding gasoline and motor vehicles, retail sales rose 0.8% in March, matching February's revised figure.



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



U.S. equity futures declined sharply in premarket trading Wednesday, weighed down by fresh export restrictions targeting China-bound chips from Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and other semiconductor firms.



As of 8:40 a.m. Eastern Standard Time, S&amp;P 500 futures were down 0.8%, while Nasdaq 100 contracts dropped 1.5%, reflecting investor jitters over the escalating tech trade tensions.



Shares of Nvidia plunged 6.5% in the premarket, with Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) also tumbling 7%. The sell-off came after overnight reports of tightened U.S. export controls affecting advanced chip sales to China.



Adding to the sector&#8217;s woes, Dutch semiconductor heavyweight ASML Holding N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) reported weaker-than-expected first-quarter revenue, sending its shares down 4.5% in European trading.



Amid the risk-off sentiment, gold extended its historic rally. Bullion surged over 2% to hit $3,320 per ounce, bringing its year-to-date gains to 23% as investors continue to seek safe-haven assets.



Now Read: 



<ul>
<li><a href="https://www.benzinga.com/government/regulations/25/04/44828850/trump-tariffs-may-not-ignite-inflation-after-all-says-yardeni">Trump Tariffs May Not Ignite Inflation After All, Says Yardeni</a></li>
</ul>



Image: Shutterstock

Retail Sales

ASML

March Retail Sales Post Highest Surge In Over Two Years As US Consumers Anticipate Tariff Jitters

U.S.-listed Chinese companies Alibaba Group Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), PDD Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>), Baidu, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>), NIO Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>), Li Auto Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>), and XPeng Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) are trading lower Wednesday.



President&nbsp;Donald Trump&#8217;s administration <a target="_blank" href="https://www.benzinga.com/markets/25/04/44831287/trump-administration-imposes-up-to-245-tariff-on-chinese-imports-amid-intensifying-trade-battle" rel="noreferrer noopener">revealed on Tuesday</a> a fact sheet citing tariffs on certain Chinese imports as high as 245%, citing its <a target="_blank" href="https://www.whitehouse.gov/fact-sheets/2025/04/fact-sheet-president-donald-j-trump-ensures-national-security-and-economic-resilience-through-section-232-actions-on-processed-critical-minerals-and-derivative-products/" rel="noreferrer noopener">retaliatory actions</a>.



China&#8217;s&nbsp;gross domestic product&nbsp;grew 5.4% in the first quarter, topping the analyst estimate of 5.2% backed by consumer subsidies and aggressive export shipments to beat tariffs, Bloomberg <a target="_blank" href="https://www.bloomberg.com/news/articles/2025-04-16/china-s-economic-growth-beats-forecasts-ahead-of-tariff-impact?sref=TBDibEcD" rel="noreferrer noopener">reports</a>.



Also Read: <a target="_blank" href="https://www.benzinga.com/markets/emerging-markets/25/04/44796128/alibabas-quark-ai-surpasses-bytedances-doubao-with-150-million-monthly-users" rel="noreferrer noopener">Alibaba&#8217;s Quark AI Surpasses ByteDance&#8217;s Doubao With 150 Million Monthly Users</a>



Both production and consumption indicated unexpected momentum in March before the tariffs kicked in. However, an intensifying trade war dims its outlook and fuels calls for stimulus.



Michelle Lam of Societe Generale SA highlighted the urgency of stimulus to Bloomberg, citing high-frequency data showing tariff impact on U.S.-bound shipments. National Bureau of Statistics data indicated front-loaded shipments partly supported the economy before tariffs surged in April.



Without more stimulus, China could struggle to meet its growth target of ~5% in 2025. Exports will likely contract after contributing to a third of growth in 2024, while business and consumer sentiment will likely suffer the trade war consequences.



Economists at international banks, including UBS Group and Goldman Sachs, slashed their forecasts for China&#8217;s 2025 growth to ~4% or lower. The tariffs will prompt companies to raise the prices of their products to maintain their margins.



However, Chinese companies bank on their lower-priced offerings, and therefore, raising the prices could affect their demand.



The tariff war began with Trump imposing a 20% tariff on China after he took office, a 34% levy on April 2, and an additional 50% duty in response to China&#8217;s retaliatory threats, heightening the initial tariffs to 104%.



China retaliated by increasing its tariffs by 84%. Trump later hiked the 104% to 125%. Last Friday, China, too, raised its levies on U.S. imports to 125%, while U.S. tariffs on China stood at 145%.



Bush Chu of&nbsp;Aberdeen Investments and TD Cowen&nbsp;of&nbsp;Jaret Seiberg <a target="_blank" href="https://www.benzinga.com/markets/25/04/44761071/are-chinese-tech-stocks-at-a-serious-risk-amid-escalating-trade-war-delisting-is-moving-up-in-the-list-of-retaliatory-options-says-analyst" rel="noreferrer noopener">highlighted concerns about</a> potential delisting as retaliatory actions from the U.S. led to a selloff&nbsp;of heavily foreign-owned Chinese tech&nbsp;stocks.



Chinese e-commerce firms have been the worst impacted by the U.S. raising tariffs on small parcels.



China ETFs traded in the&nbsp;U.S. iShares China Large-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXI#NYSE">FXI</a>) and KraneShares Trust KraneShares CSI China Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KWEB#NYSE">KWEB</a>) are trading lower on Wednesday.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/04/44803377/hilton-marriott-picked-for-strong-global-mix-and-low-tariff-exposure-despite-china-growth-risks-analyst" target="_blank" rel="noreferrer noopener">Which Gaming And Lodging Stocks Are Exposed To International inbound Travel And China?</a></li>
</ul>



Photo Courtesy: Tomas Ragina via Shutterstock

Media

BABA

BIDU

KWEB

XPEV

Why Are US-Listed Chinese Stocks Falling On Wednesday?

U.S. Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>) reported first-quarter earnings per share of $1.03 on Wednesday, which beat the<a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener"> analyst consensus estimate of 98 cents.</a>



The parent company of U.S. Bank reported <a href="https://s203.q4cdn.com/711684571/files/doc_financials/2025/q1/1Q25-Earnings-Release.pdf" target="_blank" rel="noreferrer noopener">quarterly </a>revenues of $6.95 billion. It outpaced the analyst consensus estimate of $6.91 billion.



Adjusted Net interest income rose 2.7% year over year to $4.092 billion. The company reported quarterly net interest margin of 2.72%, an increase of 2 basis points on a year-over-year basis, and a one basis point increase on a linked quarter basis. Noninterest income jumped 5% year over year to $2.836 billion.



Also Read:<a target="_blank" href="https://www.benzinga.com/25/04/44836515/how-to-earn-500-a-month-from-fifth-third-bancorp-stock-ahead-of-q1-earnings" rel="noreferrer noopener"> How To Earn $500 A Month From Fifth Third Bancorp Stock Ahead Of Q1 Earnings</a>



&#8220;We managed expenses with discipline and delivered 270 basis points of positive operating leverage on an adjusted basis – our third consecutive quarter of yearover-year growth in revenues outpacing expenses,&#8221; said U.S. Bancorp CEO Gunjan Kedia.



U.S. Bancorp&#8217;s average total loans increased 2.1% on a year-over-year basis and 0.9% on a linked quarter basis.



The company&#8217;s provision for credit losses fell 2.9% year over year to $537 million largely driven by improved credit quality and portfolio mix.



CET1 capital ratio was 10.8% at March 31, 2025, compared with 10.6% at December 31, 2024.



&#8220;As we navigate macroeconomic uncertainties, we will continue to manage the bank with strong risk management capabilities,&#8221; Kedia added.



Price Action: USB shares are trading higher by 1.40% to $39.17 premarket at last check Wednesday.



Read More:



<ul>
<li><a href="https://www.benzinga.com/markets/25/04/44811698/jim-cramer-planet-fitness-is-doing-better-than-expected-says-no-to-this-industrial-stock" target="_blank" rel="noreferrer noopener">Jim Cramer: Planet Fitness Is Doing Better Than Expected, Says No To This Industrial Stock</a></li>
</ul>



Image: Shutterstock

Guidance

General

U.S. Bancorp Beats Q1 Estimates, CEO Says 'Revenues Outpaced Expenses'

On Tuesday, April 15, U.S. markets closed lower amid ongoing tariff uncertainty and weakness in consumer and healthcare stocks. Gains in Bank of America and Citigroup provided some support, though bank executives warned of risks to consumer spending if trade tensions persist. Boeing <a target="_blank" href="https://www.benzinga.com/trading-ideas/movers/25/04/44822589/boeing-stock-is-sliding-tuesday-whats-going-on" rel="noreferrer noopener">fell</a> after China suspended jet deliveries, while the auto and pharmaceutical sectors also came under pressure from new tariff threats.



On the economic front, the NY Empire State Manufacturing Index improved to -8.1 in April from -20 in March. Export prices were unchanged in March, while import prices declined by 0.1% following a 0.2% gain in February.



Most S&amp;P 500 sectors ended the day lower, led by losses in consumer-related stocks, though information technology and real estate outperformed, closing higher amid broader market weakness.



The Dow Jones Industrial Average fell 0.38% to 40,368.96, the S&amp;P 500 slipped 0.17% to 5,396.63, and the Nasdaq Composite edged down 0.05% to 16,823.17.



Related: <a target="_blank" href="https://www.benzinga.com/25/04/44830406/nvidia-to-take-55-billion-hit-over-china-chip-export-restrictions-but-top-analyst-dan-ives-says-hes-not-overly-concerned-all-part-of-the-high-game-of-poker" rel="noreferrer noopener">Nvidia To Take $5.5 Billion Hit Over China Chip Export Restrictions — But Top Analyst Dan Ives Not Overly Concerned: &#8216;All Part Of The High Game Of Poker</a>



Asia Markets Today



<ul>
<li>On Wednesday, Japan&#8217;s Nikkei 225 fell 1.03% to close at 33,913.00, led by losses in the Paper &amp; Pulp, Transport and Communication sectors.</li>



<li>Australia&#8217;s S&amp;P/ASX 200 was down 0.04% and closed at 7,758.90, led by losses in the Energy, IT and Healthcare sectors.</li>



<li>India&#8217;s Nifty 50 was up 0.48% at 23,441.20, and Nifty 500 rose 0.61% to 21,408.30.</li>



<li>China&#8217;s Shanghai Composite rose 0.26% to 3,276.00, and Shanghai Shenzhen CSI 300 increased 0.31% to 3,772.82.</li>



<li>Hong Kong&#8217;s Hang Seng Index fell 1.91% to 21,056.98.</li>



<li>The Hang Seng index dropped as major Chinese tech firms like Baidu, Alibaba, and Tencent fell up to 5% after Nvidia warned of a $5.5B hit from new U.S. chip export controls, threatening AI chip access in China.</li>
</ul>



&nbsp;Eurozone at 05:45 AM ET



<ul>
<li>The European STOXX 50 was down 0.79%.</li>



<li>Germany&#8217;s DAX declined 0.55%.</li>



<li>France&#8217;s CAC 40 fell 0.65%.</li>



<li>U.K.&#8217;s FTSE 100 index traded lower by 0.47%.</li>
</ul>



Commodities at 05:45 AM ET



<ul>
<li>Crude Oil WTI was trading higher by 0.85% at $61.84/bbl, and Brent was up 0.79% at $65.18/bbl.</li>



<li>Natural Gas fell 2.22% to $3.255.</li>



<li>Gold was trading higher by 2.44% at $3,319.35, Silver was up 1.96% to $32.930, and Copper fell 0.90% to $4.5840.</li>



<li>Gold surged to a record high as U.S.-China trade tensions, Nvidia&#8217;s warning, and economic uncertainty boosted safe-haven demand and pressured global tech and copper markets.</li>
</ul>



U.S. Futures at 05:45 AM ET



Dow futures were down 0.01%, S&amp;P 500 futures declined 0.54% and Nasdaq 100 futures slid 1.19%.



Forex at 05:45 AM ET



<ul>
<li>The U.S. Dollar Index declined 0.54% to 99.63, USD/JPY was down 0.22% to 142.86, and USD/AUD slid 0.945% to 1.5709.</li>



<li>The dollar fell sharply Wednesday amid renewed trade tensions and investor anxiety over erratic U.S. tariff policy. It hit a 10-year low against the Swiss franc and a seven-month low versus the yen.</li>
</ul>



Photo via Shutterstock

Emerging Markets

Eurozone

Futures

Forex

ADIV

AGOV

ASHR

BBEU

BOIL

CQQQ

EEMA

FLAX

IEMG

IEUR

KDIV

SPEM

USDU

Asia Mixed, Europe Slides; Gold Hits $3,300 As Trade War Escalates - Global Markets Today While US Slept

U.S. stock futures declined on Wednesday following a muted day of trading on Tuesday. Futures of major benchmark indices were lower in premarket.



The Donald Trump administration levied a<a href="https://www.benzinga.com/markets/25/04/44831287/trump-administration-imposes-up-to-245-tariff-on-chinese-imports-amid-intensifying-trade-battle"> 245% tariff on China</a> late Tuesday. &#8220;China now faces up to a 245% tariff on imports to the United States as a result of its retaliatory actions,&#8221; stated a White House fact sheet.



Meanwhile, the new U.S. export restrictions halting the shipments of Nvidia Corp.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)<a href="https://benzinga.com/25/04/44830406/nvidia-to-take-55-billion-hit-over-china-chip-export-restrictions-but-top-analyst-dan-ives-says-hes-not-overly-concerned-all-part-of-the-high-game-of-poker"> H20 graphics processing units to China</a> were announced. The announcement comes after the U.S. government informed the company on April 9 that it would now require a license to export those chips.



The 10-year Treasury bond yielded 4.31% and the two-year bond was at 3.81%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool&#8217;s </a>projections show markets pricing a 79.9% likelihood of the Federal Reserve keeping the current interest rates unchanged in its May meeting. 



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Dow Jones</td><td>-0.07%</td></tr><tr><td>S&amp;P 500</td><td>-0.44%</td></tr><tr><td>Nasdaq 100</td><td>-1.08%</td></tr><tr><td>Russell 2000</td><td>-0.35%</td></tr></tbody></table></figure>



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, fell in premarket on Wednesday. The SPY was down 0.67% to $534.02, while the QQQ declined 1.27% to $452.17, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From Last Session:



Weighing on U.S. stocks Tuesday, the consumer discretionary, health care, and consumer staples sectors saw the biggest declines.



Bucking the trend, however, information technology and real estate stocks closed higher.



The market moves came as Citigroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>) and Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) reported better-than-expected first-quarter earnings, while economic data showed a rise in the NY Empire State Manufacturing Index and flat export prices alongside a slight drop in import prices for March.



The Dow closed Tuesday 10.44% below its 52-week peak of 45,073.63. The S&amp;P 500 ended 12.21% off its 6,147.43 high, and the Nasdaq 100 was 15.27% below its 22,222.61 record.



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>-0.049%</td><td>16,823.17</td></tr><tr><td>S&amp;P 500</td><td>-0.17%</td><td>5,396.63</td></tr><tr><td>Dow Jones</td><td>-0.38%</td><td>40,368.96</td></tr><tr><td>Russell 2000</td><td>0.11%</td><td>1,882.92</td></tr></tbody></table></figure>



Insights From Analysts:



According to Mona Mahajan of Edward Jones, the stock valuations were not stretched anymore. &#8220;While market returns have been negative this year, the upside is that valuations are now looking more compelling and are no longer stretched, which was a concern coming into this year.&#8221;



She highlighted that all major indexes were trading at or below their 10-year historical forward price-to-earnings multiples, potentially setting the stage for improved long-term returns.



The S&amp;P 500 forward multiple was around 18 times next year&#8217;s earnings forecast, down from a recent high of 22.7 times, while the Nasdaq forward multiple was about 21 times, down from its recent high of 30 times.



&#8220;In our view, the spike in volatility, a reset in valuations, and signs that the worst-case scenario in the trade war appears to be averted suggest that stocks may find some support and try to carve out a bottom. Risks have risen, but a recession is not inevitable in our view, and stocks appear to have already priced in a significant degree of bad outcomes,&#8221; she added.



Jason Goepfert of White Oak Consultancy LLC noted a historical pattern: whenever the VIX fear index drops from above 50 to the 30 level, the S&amp;P 500 has historically achieved 100% positive gains by year-end.



However, he points out that in the most recent such cycle in May 2020, the S&amp;P 500&#8217;s return after a year was 42.96%. Goepfert&#8217;s analysis of similar cycles in 2009, 2002, and 1988 also reveals a short-term median loss of 0.7% for the S&amp;P 500 in the week following the VIX&#8217;s drop to 30.



<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 VIX cycle from &gt; 50 to &lt; 30 is on track to trigger today. A bear killer. <a href="https://t.co/rzvdiBw37G">pic.twitter.com/rzvdiBw37G</a>&mdash; Jason Goepfert (@jasongoepfert) <a href="https://twitter.com/jasongoepfert/status/1912145727448363174?ref_src=twsrc%5Etfw">April 15, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



According to an X post by Charlie Bilello of Creative Planning, historical data since 1990 showed that the S&amp;P 500 has delivered an average return of 35% in the year following a VIX close above 50, and 129% over the subsequent five 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">The <a href="https://twitter.com/search?q=%24VIX&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$VIX</a> closed above 50 last week for the first time since April 2020. In the past, what has that meant for stocks going forward? Video discussion: <a href="https://t.co/YYVlqL4IlH">https://t.co/YYVlqL4IlH</a> <a href="https://t.co/iEy9Wb5myJ">pic.twitter.com/iEy9Wb5myJ</a>&mdash; Charlie Bilello (@charliebilello) <a href="https://twitter.com/charliebilello/status/1912220992963035233?ref_src=twsrc%5Etfw">April 15, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How to Trade Futures</a>



Upcoming Economic Data



Here&#8217;s what investors will keep an eye on Wednesday:



<ul>
<li>March&#8217;s U.S. retail sales will be out by 8:30 a.m. ET.</li>
</ul>



<ul>
<li>Industrial production and capacity utilization data for March will be announced at 9:15 a.m. ET.</li>
</ul>



<ul>
<li>Business inventories for February and the home builder confidence index for April will be out by 10:00 a.m. ET.</li>
</ul>



<ul>
<li>Cleveland Fed President Beth Hammack will speak at noon.</li>
</ul>



Stocks In Focus:



<ul>
<li>Abbott Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABT#NYSE">ABT</a>) rose 0.74% in premarket on Wednesday as it is expected to report earnings before the opening bell. Analysts expect a quarterly earnings of $1.07 per share on revenue of $10.40 billion.</li>
</ul>



<ul>
<li>Travelers Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) was up 0.076% as Wall Street expects it to report earnings of 80 cents per share on revenue of $10.82 billion before the opening bell.</li>
</ul>



<ul>
<li>Progressive Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>) fell 0.01% as it is expected to report earnings before the opening bell. Analysts expect a quarterly earnings of $4.81 per share on revenue of $21.63 billion.</li>
</ul>



<ul>
<li>ASML Holding NV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) dropped 4.2% despite beating earnings estimates as its revenue and EPS fell on a sequential basis.</li>
</ul>



<ul>
<li>J B Hunt Transport Services Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBHT#NASDAQ">JBHT</a>) dropped 6.28% after reporting a 7.6% decline in profit for the first quarter. The company posted quarterly revenue of $2.92 billion, compared to market estimates of $2.90 billion.</li>
</ul>



<ul>
<li>iCAD Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICAD#NASDAQ">ICAD</a>) surged 72.02% and Radnet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDNT#NASDAQ">RDNT</a>) fell 2.03% after they announced a definitive all-stock merger agreement where RadNet will acquire iCAD.</li>
</ul>



<ul>
<li>La Rosa Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRHC#NASDAQ">LRHC</a>) jumped 119.16% after Nasdaq granted a 180-day extension, until October 6, 2025, to regain the $1.00 minimum bid price for continued listing under &#8216;LRHC&#8217;.</li>
</ul>



Commodities, Gold, And Global Equity Markets:



Crude oil futures were trading higher in the early New York session by 0.60% to hover around $61.70 per barrel.



Gold Spot US Dollar advanced 2.38% to hover around $3,304.35 per ounce. Its fresh record high stood at $3,318 per ounce. The U.S. Dollar Index spot was lower by 0.51% at the 99.7040 level.



Asian markets declined on Wednesday, except India's S&amp;P BSE Sensex, China&#8217;s CSI 300 index. Hong Kong's Hang Seng, Japan's Nikkei 225, Australia's ASX 200, and South Korea's Kospi index ended lower. European markets were also mostly lower in early trade.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/25/04/44831287/trump-administration-imposes-up-to-245-tariff-on-chinese-imports-amid-intensifying-trade-battle">Trump Administration Imposes Up To 245% Tariff On Chinese Imports Amid Intensifying Trade Battle</a></li>
</ul>



Photo courtesy: Shutterstock

Market Summary

Treasuries

Pre-Market Outlook

ICAD

LRHC

RDNT

US Stock Likely To Open Lower As US-China Tariff War Continues: 'Valuations Are Now Looking More Compelling,' Says Expert

In the latest development in the ongoing U.S.-China trade conflict, U.S. President&nbsp;Donald Trump&nbsp;has called upon China to initiate negotiations.



What Happened: White House Press Secretary Karoline Leavitt conveyed Trump&#8217;s sentiments during a Tuesday press briefing, stating, &#8220;The ball is in China's court. China needs to make a deal with us. We don't have to make a deal with them.&#8221; Trump&#8217;s remarks underscore China&#8217;s reliance on the American consumer, implying that the Asian giant needs U.S. funds.



This recent turn of events indicates that both nations are holding their ground, with no immediate end to the trade dispute in sight. The ongoing conflict has resulted in both countries implementing substantial trade barriers.



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="White House on Trade Talks: ‘The Ball Is in China's Court' &#x7C; WSJ News" width="500" height="281" src="https://www.youtube.com/embed/iwqRxN26V4Y?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div></figure>



Trump is currently reviewing over 15 proposals from various countries and has expressed his preference to personally approve all deals. The White House insists that China must kick off the discussions, while Beijing is unclear about the specific demands of the U.S.



SEE ALSO:&nbsp;<a href="https://benzinga.com/25/04/44831978/senator-josh-hawley-proposes-historic-tax-cuts-for-americans-earning-below-80k-annually-republicans-should-fix-th" target="_blank" rel="noreferrer noopener">Josh Hawley Proposes &#8216;Historic&#8217; Tax Cuts For Americans Earning Below $80K Annually: &#8216;Republicans Should Fix This Now&#8217;</a>



Why It Matters: The Trump administration has<a href="https://www.benzinga.com/markets/25/04/44831287/trump-administration-imposes-up-to-245-tariff-on-chinese-imports-amid-intensifying-trade-battle"> imposed a tariff </a>of up to 245% on Chinese imports in response to China&#8217;s retaliatory actions.



Furthermore, the trade dispute has had a direct impact on the aviation industry. On Tuesday, China reportedly instructed its airline companies to <a href="https://www.benzinga.com/trading-ideas/movers/25/04/44822589/boeing-stock-is-sliding-tuesday-whats-going-on">halt deliveries</a> of Boeing jets, leading to a decline in Boeing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) shares. President Trump expressed discontent over this and posted on his Truth Social: &#8220;..they just reneged on the big Boeing deal&#8221;.



The shares of Boeing fell 2.39% to close at $155.52&nbsp;on Tuesday, as per <a href="https://www.benzinga.com/pro/">BenzingaPro</a>. 



President Trump on Tuesday signed an executive order to launch a national security investigation on critical minerals—The move aims to challenge China's dominance in rare earth supply chains and battery minerals, as the U.S. seeks to become self-sufficient in its critical minerals supply.



Meanwhile, Chinese President Xi Jinping has set out on a tour of Southeast Asia to strengthen trade ties with allies amid mounting U.S. tariff pressures.



<ul>
<li>READ MORE:&nbsp;<a href="https://benzinga.com/news/25/04/44779863/warren-buffetts-son-sold-his-berkshire-stock-inheritance-to-buy-something-infinitely-more-valuable-than-the-500-million-it-would-be-worth-today" target="_blank" rel="noreferrer noopener">Warren Buffett&#8217;s Son Sold His Berkshire Stock Inheritance To Buy Something &#8216;Infinitely More Valuable&#8217; Than The $500 Million It Would Be Worth Today &#8211; Benzinga</a></li>
</ul>



Image via Shutterstock



Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

'The Ball Is In China's Court': Trump Says As White House Awaits Beijing's Call — 'China Needs To Make A Deal With Us'

More than a decade after Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) turned down a multibillion-dollar buyout from Facebook, the failed deal is back in the spotlight as Mark Zuckerberg testifies in Meta Platforms Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) <a href="https://www.benzinga.com/25/04/44805013/mark-zuckerberg-takes-the-stand-as-landmark-antitrust-trial-threatens-to-break-up-metas-137-trillion-empire-trial-will-show-what-every-17-year-old-in-the-world-knows-says-spokesperson">high-stakes antitrust trial</a>.



What Happened: On Tuesday, during his second day on the witness stand, Zuckerberg addressed a 2013 email in which he offered $6 billion to acquire Snapchat—double the <a href="https://www.benzinga.com/news/13/11/4077625/facebooks-3-billion-offer-rejected-by-snapchat">$3 billion previously reported</a>, according to <a href="https://www.businessinsider.com/mark-zuckerberg-meta-antitrust-trial-snapchat-buyout-bid-2025-4">a</a> report by Business Insider.



"I delivered the offer to Evan and he seemed to take it well," Zuckerberg wrote in the email, referencing Snap CEO Evan Spiegel. "He told me he thought he could get it done and that he'd call me back quickly."



The <a href="https://www.benzinga.com/markets/25/02/43557821/evan-spiegel-takes-a-shot-at-mark-zuckerberg-over-meta-copying-snapchats-features-on-instagram-and-facebook">deal never materialized</a>. Zuckerberg told the court he believed Snapchat "wasn't growing at the potential that it could" and added, "If we would have bought them, we would have accelerated their growth, but that's just speculation."



See Also:&nbsp;<a href="https://www.benzinga.com/25/04/44778760/netflix-debuts-openai-backed-search-engine-that-lets-you-discover-movies-and-tv-shows-based-on-emotions-not-just-titles" target="_blank" rel="noreferrer noopener">Netflix Debuts OpenAI-Backed Search Engine That Lets You Discover Movies And TV Shows Based On Emotions, Not Just Titles</a>



The Federal Trade Commission introduced the email as part of its argument that Meta pursued acquisitions like Instagram and WhatsApp to eliminate competition and maintain dominance in the social media space.



Snap spokesperson Monique Bellamy told the publication, "Anticompetitive behavior can often slow and thwart growth for smaller companies… Meta's attempt to buy Snap, and then egregiously copy its features, was an attempt to do just that."



While testifying, Zuckerberg acknowledged that Snapchat was and continues to be a significant competitor.



Why It's Important: The FTC's lawsuit could reshape the tech landscape. It accuses Meta of <a href="https://www.benzinga.com/25/04/44821791/meta-platforms-used-buy-or-bury-strategy-to-monopolize-social-media-ftc-says">using a "buy or bury"</a> strategy to suppress rivals, potentially forcing the company to divest Instagram and WhatsApp.



Meta denies wrongdoing, arguing it faces strong competition from platforms like TikTok and YouTube, the platform owned by Alphabet Inc.'s (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>) Google.



Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.



The trial is <a href="https://www.benzinga.com/news/legal/25/04/44781970/star-trek-quoting-judge-boasberg-once-targeted-by-trump-could-decide-if-mark-zuckerbergs-meta-gets-to-keep-instagram">expected to last eight weeks</a>.



On Monday, the trial revealed internal strategies, such as Zuckerberg&#8217;s unexecuted plan to reset all Facebook users&#8217; connections in 2022, aimed at keeping the platform culturally relevant.



Price Action: On Tuesday, Meta's stock fell by 1.87%, closing at $521.51, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.



META holds a momentum rating of 60.72% and a growth rating of 74.91%, based on <a href="https://www.benzinga.com/quote/META">Benzinga's proprietary Edge Rankings</a>.



The Benzinga Growth score measures a stock's past earnings and revenue growth over various timeframes, emphasizing both consistent long-term performance and recent trends.



<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here to see how it compares</a> to Snapchat, Alphabet, and other major companies.



<figure class="wp-block-image aligncenter size-full is-resized"><a href="https://www.benzinga.com/quote/META"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/16040327/Screenshot-2025-04-16-at-1.33.22%E2%80%AFPM.png" alt="" class="wp-image-873643" style="width:378px;height:auto"/></a></figure>



Read More:



<ul>
<li><a href="https://benzinga.com/news/25/04/44735140/most-people-dont-have-the-balls-to-do-it-says-mark-cuban-praising-musk-for-going-all-in-with-his-own-money-f" target="_blank" rel="noreferrer noopener">‘Most People Don&#8217;t Have The Balls To Do It,&#8217; Says Mark Cuban, Praising Musk For Going ‘All In&#8217; With His Own Money For His Startups</a></li>
</ul>



Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



Photo courtesy: Poetra.RH / Shutterstock.com

Legal

SNAP

Mark Zuckerberg Defends Meta In FTC Trial Over $6 Billion Offer To Acquire Snapchat: 'We Would Have Accelerated Their Growth'

As the Nasdaq 100 reeled from April's tariff-driven sell-off, retail traders doubled down on risk rather than retreating, injecting billions into ultra-leveraged tech ETFs in a high-stakes bet on <a href="https://www.benzinga.com/markets">a swift market rebound.</a>



While the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) — the world's largest ETF tracking the Nasdaq 100 — pulled in $4.44 billion in inflows last Thursday, marking its biggest single-day influx since March 2021, the real fireworks erupted in the most leveraged corner of the tech market.



The trading activity revealed a bold resurgence of dip-buying appetite, particularly in vehicles designed to magnify returns from the Nasdaq 100 Index. 



<h3 class="wp-block-heading">TQQQ Becomes The Go-To Vehicle For Tech Dip-Buying Mania</h3>



According to ETF.com's senior analyst Sumit Roy, "Nowhere is this phenomenon more obvious than in the ProShares UltraPro QQQ (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TQQQ#NASDAQ">TQQQ</a>), the No. 1 ‘buy-the-dip' target among traders."



Despite plunging 57% from its February high to its early-April trough, traders continued pouring money into the ETF. 



Since Feb. 19, TQQQ has seen $7.1 billion in net inflows—$3.1 billion of which arrived after April 2, the day President Donald Trump reignited trade war fears by announcing new "reciprocal tariffs" on all trading partners.



This surge in interest reflects not just dip-buying behavior, but leveraged dip-buying, underscoring a growing appetite for risk in a market environment defined by geopolitical uncertainty and heightened volatility.



On April 3, the ETF dropped 16%, followed by another 18% loss on April 4. Then, just five days later, it rocketed 35% higher.



From its low on April 9, TQQQ has surged nearly 30%, clawing back losses but still sitting 45% below its February peak. The Nasdaq 100 itself dropped 23% at its worst point during the same stretch.



<h3 class="wp-block-heading">History Repeats? Traders Eye 2022-24&#8217;s 477% Rally</h3>



The current setup has echoes of the 2022 bear market. Back then, the Nasdaq 100 tumbled 35% from peak to trough amid aggressive Federal Reserve rate hikes. 



TQQQ lost a staggering 80% during that period—but for those who caught the exact bottom, the rewards were extraordinary. The ETF rallied 477% between its 2022 low and its December 2024 peak.



&#8220;The prospect of that type of massive gain is luring traders to pour money into the ETF,&#8221; said Roy. 



&#8220;Of course, there's no guarantee that things will play out like they did last time. In fact, the only thing you can count on with TQQQ is volatility,&#8221; he added.



Despite the broader economic uncertainty tied to tariffs, traders seem undeterred, leaning into heightened volatility in search of strong upside potential.



The takeaway from recent flows is clear: investors are ready to ride out the market's twists and turns.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/25/04/44816653/canada-eases-retaliatory-tariffs-on-us-goods-as-trade-tensions-thaw-under-softer-trump-stance-stocks-react">Canada Eases Retaliatory Tariffs On US Goods As Trade Tensions Thaw Under Softer Trump Stance: Stocks React</a></li>
</ul>



Image created using artificial intelligence via Midjourney.

TQQQ

Retail Traders Rush Into Leveraged Tech ETFs, Betting On Nasdaq Rebound After Sharp Drop

NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) stock has had a mixed 2025 with several boosts related to keynote speeches given by CEO Jensen Huang, including an all-time high around his<a href="https://www.benzinga.com/top-stories/25/03/44313558/nvidia-stock-reached-all-time-highs-after-jensen-huangs-ces-keynote-will-next-weeks-gtc-spark-another-surge"> keynote at CES.</a>



Investors will likely be hoping for another strong keynote from Huang in May at an upcoming conference.



What Happened: Huang announced several product updates, roadmap updates<a href="https://www.benzinga.com/tech/25/03/44383445/nvidia-ceo-jensen-huang-announces-gm-partnership-the-time-for-autonomous-vehicles-has-arrived"> and a partnership </a>with General Motors Company at Nvidia's GPU Technology Conference in March.



While those items weren't enough to lift Nvidia stock to all-time highs, shareholders could have another potential catalyst on the docket for Sunday, May 18.



Huang will be one of the keynote <a href="https://www.prnewswire.com/news-releases/nvidia-ceo-jensen-huang-will-deliver-first-keynote-at-computex-2025-sharing-latest-ai-advancements-and-breakthroughs-302398053.html">speakers </a>at COMPUTEX 2025, a <a href="https://events.computextaipei.com.tw/en/Keynote.aspx">conference </a>sponsored by the Taiwan External Trade Development Council that will take place at the Taipei Music Center.



The Nvidia CEO will be the first featured keynote at the event with a livestream at 11 a.m. local time Monday, May 19 (Sunday, May 18, 8 p.m. PT).



Huang will outline Nvidia's latest advancements and breakthroughs in artificial intelligence and accelerated computing technologies, according to a news announcement.



"As a leader in AI, NVIDIA continues to push the boundaries of innovation in accelerated computing, physical AI, agentic AI, and scientific discovery – turning yesterday's impossibilities into today's reality," the announcement reads.



COMPUTEX 2025, with the theme "AI Next," will focus on the three major themes of AI and robotics, Next-Gen Tech, and Future Mobility. The event will take place in Taiwan from May 20 to May 23.



Qualcomm (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) CEO Cristiano Amon, HonHai (Foxconn) chairman Young Liu, MediaTek CEO Dr. Rick Tsai and NXP Semiconductors (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>) executive VP Jens Hinrichsen will also give keynote speeches at COMPUTEX 2025.



Read Also: <a href="https://www.benzinga.com/news/earnings/25/02/43991607/nvidia-q4-earnings-highlights-revenue-beat-eps-beat-demand-for-blackwell-is-amazing">Nvidia Q4 Earnings Highlights: Revenue Beat, EPS Beat, &#8216;Demand For Blackwell Is Amazing&#8217;</a>



Why It's Important: Huang's keynote comes as Nvidia is expected to report first-quarter financial results in late May, around the conference dates. This could mean Nvidia investors have several catalysts that will happen quickly.



With the speech taking place in Taiwan and the time zone making it happen on a Sunday when the markets are closed, the stock could get an early boost on Monday, May 19, depending on what Huang says.



On Tuesday, Nvidia <a href="https://www.nvidia.com/en-gb/geforce/news/rtx-5060-desktop-family-laptop-5060-coming-soon/">announced </a>the latest updates to the GeForce RTX 5060 Desktop Family. The RTX 5060 Ti will be available on April 16 for $379, and the RTX 5060 for Laptops will be available in May for $299.



"NVIDIA is the world leader in graphics and AI, and our goal with GeForce RTX is and has always been to advance the state-of-the-art in real-time computer graphics," the company said.



NVDA Price Action: Nvidia stock traded at $111.22 on Tuesday versus a 52-week trading range of $75.61 to $153.13. Nvidia stock is down 19.5% year-to-date in 2025, while shares remain up 29.5% over the last year.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/24/11/41888032/nvidia-ceo-jensen-huang-said-nvidia-has-no-long-term-strategy-how-this-philosophy-is-similar-to-his-reason-to-not-wear-a-watch">Nvidia CEO Jensen Huang Doesn&#8217;t Wear A Watch After A Gardner Taught Him The Secret Of Time</a></li>
</ul>



Photo: Shutterstock

Events

NXPI

QCOM

Nvidia Stock Could Get Boost From Another Jensen Huang Keynote Speech: Here's The Date And Details

In a high-stakes antitrust trial that began Monday in Washington, D.C., the Federal Trade Commission called on Meta Platform, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) to divest Instagram and WhatsApp, alleging these deals formed part of an illegal &#8220;buy or bury&#8221; strategy to monopolize <a href="https://www.benzinga.com/general/social-media/25/04/44799581/no-expiration-date-on-metas-antitrust-case-says-former-ftc-chair-ahead-of-trial">social networking. </a>



The Details: Prosecutors highlighted a 2008 email in which Meta CEO Mark Zuckerberg reportedly stated it was &#8220;better to buy than compete,&#8221; framing the Instagram purchase as a tactic to neutralize a rising competitor.&nbsp;



Zuckerberg testified for three hours on the trial's <a href="https://www.benzinga.com/25/04/44807557/mark-zuckerberg-proposed-wiping-all-friends-connections-and-make-users-start-again-to-keep-facebook-culturally-relevant-antitrust-trial-reveals">first day </a>and argued that Meta's acquisitions were necessary to adapt to evolving user preferences. The Meta CEO also pointed to competition from TikTok and YouTube Shorts as evidence of a dynamic market.&nbsp;



Read Next: <a href="https://www.benzinga.com/general/social-media/25/04/44817229/chinese-tiktok-influencers-expose-cheap-nike-lululemon-suppliers-to-bypass-trump-tariffs">Chinese TikTok Influencers &#8216;Expose&#8217; Cheap Nike, Lululemon Suppliers To Bypass Trump Tariffs</a>



Meta's legal team emphasized that regulators originally approved the deals and that consumer behavior, such as switching to Instagram during TikTok outages, demonstrates robust competition in the market.



Former FTC Chair Lina Khan spoke out on Monday, saying the case against Meta is about &#8220;free and fair trade.&#8221;



&#8220;There&#8217;s no expiration date when it comes to the illegality of the transaction. I think there is a way in which the entire social networking ecosystem looks different today because Facebook was permitted to go out and make these acquisitions," Khan told CNBC.



The trial could result in Meta being forced to divest Instagram and WhatsApp. Zuckerberg's testimony is expected to continue on Tuesday as both sides grapple with defining the boundaries of social media competition in a rapidly shifting digital landscape. 



Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Meta Platforms shares were down 1.95% at $521.14 at the time of publication Tuesday. 



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/04/44695907/elon-musk-calls-trump-trade-advisor-peter-navarro-dumber-than-sack-of-bricks-defends-tesla-as-the-most-american-made-cars">Elon Musk Calls Trump Trade Advisor Peter Navarro &#8216;Dumber Than Sack Of Bricks,&#8217; Defends Tesla As &#8216;Most American-Made Cars&#8217;&nbsp;</a></li>
</ul>



Image: Shutterstock

Social Media

Meta Used 'Buy Or Bury' Strategy To Monopolize Social Media, FTC Says

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