Two prominent Fed voiced issued strong public defenses of the central bank&#8217;s independence on Monday, calling out President Donald Trump&#8216;s attacks on Chair Jerome Powell as politically <a href="https://www.benzinga.com/topic/jerome-powell">dangerous and economically destabilizing.</a>



Speaking Monday on CNBC, Richard Fisher, former president of the Dallas Fed, warned that Trump's repeated attacks on Powell could inflict serious long-term damage on the credibility of the Federal Reserve and the broader U.S. economy.



"The one thing you don't want to have happen is for the Fed to become politicized," Fisher said.



Fisher added that even if Trump could fire Powell, which remains legally uncertain, it would be a self-defeating move.



"I don't think it's in the president's interest to sack him. The markets would react extremely negatively," he said.



Fisher also highlighted that current uncertainty has already paralyzed corporate decision-making, referencing companies like United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>), which recently offered dual earnings forecasts due to macroeconomic unpredictability.



"I think the president, frankly, is undermining his own case." "No business can make a decision here," Fisher said. "That uncertainty has been generated by the executive branch."



When asked whether Trump could legally demote or remove Powell, Fisher pointed to historical precedent—most notably in 1979, when President Jimmy Carter reassigned then-Fed Chair G. William Miller to Treasury Secretary after a period of poor economic performance and appointed Paul Volcker in his place. 



"I hope it doesn't come to push and shove," he said. "If it does, we're going to see further spread widening, higher interest rates and pressure that damages long-term confidence in the economy."



Fisher also pushed back on the assumption that Fed rate cuts would lower market interest rates, pointing out that recent episodes of easing were followed by yield spikes in longer-term bonds.



"After they cut 50 basis points and then did three more cuts, yields went up—not down. The 10-year rose by 100 basis points," Fisher said. "So even if you force cuts, the market may not respond how you think."



Ultimately, Fisher painted a picture of a market hamstrung by political volatility and a Fed cornered by noise from the White House.



&#8220;Forget about the stock market, the FED will always act if the credit markets become dysfunctional.&#8221;



<h3 class="wp-block-heading">Goolsbee: Interference Means &#8216;Higher Inflation, Worse Growth&#8217;</h3>



Echoing Fisher's concerns, Austan Goolsbee, President of the Federal Reserve Bank of Chicago, said earlier on <a href="https://www.cnbc.com/2025/04/21/chicago-feds-goolsbee-says-fed-independence-is-critically-important-for-its-inflation-fight.html">CNBC's Squawk Box</a> that interfering with the Fed's independence would erode the institution's credibility and lead to long-term economic pain.



"Fed independence is critically important," Goolsbee said. "When there is interference over the long run, it's going to mean higher inflation, worse growth and higher unemployment."



Although Goolsbee declined to comment directly on Trump's statements, his message was clear: monetary credibility depends on political neutrality, especially when inflation-fighting resolve is needed.



"Just look at the countries where they don't have Fed independence. Inflation is higher, unemployment is higher, growth is worse," he added.



U.S. financial markets came under heavy pressure Monday, with stocks, bonds and the dollar falling in unison, a rare and unsettling signal of deepening investor distrust.



The U.S. Dollar Index (DXY), tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), slid to its lowest level since April 2022.



The S&amp;P 500, mirrored by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), sank 3.3% in one of its steepest single-day drops of the year.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/government/regulations/25/04/44903750/gold-price-soars-to-record-highs-eyes-best-2-month-rally-since-2011-on-blockbuster-etf-buying">Gold Price Soars To Record Highs, Eyes Best 2-Month Rally Since 2011 On Blockbuster ETF Buying</a></li>
</ul>



Photo: RozenskiP / Shutterstock.com

Macro Economic Events

Broad U.S. Equity ETFs

Econ #s

Economics

Federal Reserve

ETFs

Top Fed Voices Defend Powell, Slam Trump's Attack On Central Bank Independence

Three major U.S. defense contractors — RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>), Northrop Grumman Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>) and Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) — are all scheduled to report earnings before the market opens on Tuesday. Here's a look at what to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44810625/top-analyst-sees-unprecedented-traction-for-pltr-stock-after-nato-agreement-another-validation-sign">watch in the reports. </a>



What To Know: The Trump administration has signaled potentially historic defense spending, with reports suggesting a Pentagon budget near $1 trillion, which could benefit all three contractors. However, President Donald Trump has sent mixed messages by advocating for increased allied purchases of U.S. weapons while discussing the possibility of cutting U.S. military spending. 



The administration's push for efficiency, led by Elon Musk at the Department of Government Efficiency, introduces more uncertainty for defense contractors, as many major programs are under review. 



Read Next: <a href="https://www.benzinga.com/25/04/44903087/amazon-stock-downgraded-price-target-slashed-as-tariffs-create-uncertainty">Amazon Stock Downgraded, Price Target Slashed As Tariffs Create Uncertainty&nbsp;</a>



RTX: Investors will be looking for continued growth in RTX's Collins Aerospace and Pratt &amp; Whitney units, which both recently announced a slew of <a href="https://www.benzinga.com/news/contracts/25/04/44686376/rtx-pops-as-pratt-whitney-expands-gtf-capacity-collins-aerospace-enhances-offerings">new deals </a>and led 2024's gains.



The company's backlog will also be monitored for continued growth after reaching a record $218 billion at the end of 2024.&nbsp;



According to estimates from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, analysts expect the company to report earnings of $1.35 per share and revenue of $19.79 billion for the quarter.&nbsp;



NOC: Investors will be watching the performance of Northrop&#8217;s four main business segments: Aeronautics Systems, Defense Systems, Mission Systems and Space Systems, as well as updates on 2025 revenue and free cash flow guidance. 



Current expectations are for revenue between $42 billion and $42.5 billion and free cash flow of between $2.9 billion and $3.3 billion.&nbsp;



Earlier in April, Goldman Sachs analyst Noah Poponak upgraded Northrop Grumman stock from Sell to Neutral and raised the price target from $424 to $521. Analysts expect the company to report earnings of $6.26 per share on revenue of $9.94 billion, according to estimates from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>. 



LMT: Last week, Evan Scott <a href="https://www.benzinga.com/25/04/44867490/evan-scott-takes-over-as-lockheed-martin-cfo-succeeding-jesus-jay-malave">was named </a>as Lockheed Martin's CFO, succeeding Jesus Malave, effective immediately. In a press release, the company said it will be reaffirming its previously issued 2025 guidance and will provide updates on other key topics and answer questions with its first quarter earnings release. 



Investors will be watching the company's Aeronautics segment, driven by the F-35 program, which is expected to post solid sales. Analysts expect Lockheed Martin to report earnings of $6.34 per share on revenue of $17.8 billion for the first quarter. 



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/news/global/25/04/44899617/90-chance-of-recession-due-to-trumps-tariffs-sharp-slowdown-is-coming-economist-says">90% Chance Of Recession Due To Trump&#8217;s Tariffs: &#8216;Sharp Slowdown&#8217; Is Coming, Economist Says</a></li>
</ul>



Photo: <a href="https://www.shutterstock.com/g/MCMEDIASTUDIOPRO">MC MEDIASTUDIO</a> via Shutterstock

Earnings

Government

News

Previews

RTX, Lockheed Martin, Northrup Grumman Report Earnings Tuesday: What To Watch

President Donald Trump&#8216;s <a href="https://www.benzinga.com/government/regulations/25/04/44896834/dollar-hits-3-year-lows-us-stocks-tumble-as-trump-threatens-to-fire-powell-contrarians-of-the-world-unite">mounting fierce criticism</a> against Federal Reserve Chair Jerome Powell is unnerving the marker and taking down tech juggernaut 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>). 



Still, there may be a chance to extract quick profits for bold and opportunistic traders.



To be clear, no one should dismiss the anxiety surrounding the latest market rumblings. In a Truth Social post, Trump previously signaled discouraging intentions for the Fed chair. 



"Jerome Powell is always too late and wrong. His termination cannot come fast enough,&#8221; Trump said.



Trump initially nominated Powell in 2017. President Joe Biden appointed Powell to another four-year term in 2022. U.S. presidents do not have the legal authority to fire a Fed chairman before the end of a term, which for Powell is May 2026.



At the heart of the matter is the benchmark interest rate, with Trump blasting Powell for not cutting borrowing costs despite falling oil prices and easing inflation concerns. The president further <a href="https://www.benzinga.com/economics/macro-economic-events/25/04/44875406/hell-be-out-if-i-ask-him-can-trumps-threat-to-oust-powell-shake-the-fed">stoked the flames of discontent</a>, remarking during a public appearance with Italian Prime Minister Giorgia Meloni that he could remove Powell "real fast" if he so wished.



Of course, the political drama only underscores a far more pressing concern: the White House's economic policies — particularly related to tariffs against key economic partners — threatens to <a href="https://www.benzinga.com/news/global/25/04/44899617/90-chance-of-recession-due-to-trumps-tariffs-sharp-slowdown-is-coming-economist-says">sink the nation into a recession</a>, potentially sometime this year. For a company like Alphabet, which depends heavily on advertising revenue, a downturn would be problematic; hence, the volatility in Alphabet&#8217;s stock.



Despite the wide-ranging concerns, management has a chance to frame the narrative properly with the company's Thursday after-close <a href="https://www.benzinga.com/quote/GOOG/earnings">earnings disclosure</a>. One area that may convince investors to take a stab at Alphabet stock is the broader integration of artificial intelligence. By embedding AI across products to reduce costs and improve engagement, along with generative AI monetization efforts within the Search platform, the tech giant may help right its own ship.



<h2 class="wp-block-heading">Winners Like Alphabet Don't Stay Deflated for Too Long</h2>



Trump perceives tariffs as key to winning trade deals and often discussed the strategy on the campaign trail. And that's the main takeaway for Alphabet from a stock trading perspective: it's a winner and winners don't stay deflated for too long.



However, with headline metrics such as a year-to-date loss of 22%, it's easy for pessimism to cloud the discourse. Part of the reason for this tendency has to do with the way traditional analyses — whether technical or even fundamental — are structured. Specifically, standard methodologies rely on continuous-time signal processing frameworks. That's a complicated way of saying that there's no such thing as a "good" stock price or "bad" revenue.



Instead, metrics like share price or revenue represent scalar realities: they are what they are. The problem, of course, is that many fall into the trap of interpreting a discrete outcome — for example, "it's a good time to buy" — from a continuous signal without defining what exactly is "good."



To get around this dilemma, investors can deploy a process called abstraction, essentially compressing continuous events into discrete events, thus generating a discrete-event analysis for discrete conclusions. Personally, I deployed a quasi-binary compression for the purposes of calculating a modified first-order Markov chain model on Alphabet stock.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/21151826/GOOG-stock-price-projection-1-1024x576.jpg" alt="" class="wp-image-880553" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/21151826/GOOG-stock-price-projection-1-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/21151826/GOOG-stock-price-projection-1-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/21151826/GOOG-stock-price-projection-1-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/21151826/GOOG-stock-price-projection-1.jpg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Image by author</figcaption></figure>



What I noted was that in the past two months, the shares have printed in totality (meaning not necessarily in order) a "2-8" sequence: two weeks up, eight weeks down. The 2-8 sequence is rare, flashing only four times in the past decade. What's significant in my opinion is that in three out of the four cases, Alphabet popped sharply higher within the first two weeks of the 2-8 signal flashing.



In any other circumstance, one would consider the above assessment statistically fragile. But price action tends to marshal human emotions, which may lend credibility to this potential upside pivot.



<h2 class="wp-block-heading">Plotting a Bullish Strategy for Alphabet</h2>



With the prospect of a bullish reversal on the horizon — and especially with an earnings report coming — bold traders may be enticed to consider an out-the-money (OTM) wager as opposed to a hedged bet. Every good quarterback knows when it's time to go deep and this might be such a moment.



At this moment, the cheapest vertical spread which in my view touches the boundaries of rationality is the 157.50/160 bull call spread for the options chain expiring May 2. This transaction involves buying the $157.50 call (at an ask of $265) and simultaneously selling the $160 call (at a bid of $193), resulting in a net debit paid of $72, the most that can be lost in the trade.



Should GOOG stock rise through the $160 short strike price at expiration, the maximum reward is $178, or a payout of over 247%.



It's a highly speculative, capped-risk, capped-reward setup. The justification for the trade is that in 75% of the time when the 2-8 sequence flashes, the median return (under the positive pathway) two weeks out is 13.15%. Coincidentally, the timing of the earnings release lends loose support to the speculation that something special could be cooking for Alphabet stock.



Now Read:



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</ul>



Image: Shutterstock

Equities

Long Ideas

Options

Politics

GOOG

GOOGL

Options Corner: Monday Blues Can't Hide Alphabet Stock's Potential Upside Pivot

Netflix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) reported earnings last Thursday and the response has been positive among traders. The stock has bounced up, briefly recovering the $1,000 price target and now hovering just below that level.



The broad market remains volatile amid the trade war with China, but based on Monday&#8217;s price action, we may have a tradable bottom. However, the topside could be limited in the near term.



That&#8217;s the perfect setup for this &#8220;back ratio&#8221; trade.



Netflix&#8217;s relative resistance zone sits right around $1060, while support is well below near $700.



The back ratio call spread involves buying one call option just below that resistance zone. At the same time, selling two calls just above that zone, like so:



<ul>
<li>Buy to open 1 NFLX 960 calls </li>



<li>Sell to open 2 NFLX 1080 calls </li>
</ul>



I&#8217;ve picked September expiration dates to ‘jump' over the volatility we are likely to see in the summer, which remains unknown. The back ratio holds risk but allows us to finance this bullish position into the future.&nbsp;



This trade requires a margin if the stock is not already in your portfolio. For every call we buy, we sell two calls at higher strikes allowing us to finance part of the position. 



As for cost, the back ratio above holds a current credit of $11.55 at the time of this writing and will define the maximum credit if prices fall below $960 into expiration. 



The breakeven price of the stock at expiration on this trade is $948.45 at this writing, so we will be in profit above this price into expiration.&nbsp;



The maximum profit for this position is calculated in the following way: the long strike $960 subtracted from the short strike $1080 is $120. This difference times 100 yields $1,200 plus the credit we collected at the trade outset, $1,155 is $1,355. If we do not breach the $1,080 price, we achieve maximum gains for the position. 



If we do not own the stock, we will have a theoretically unlimited risk exposure, as prices could move dramatically, so we must calculate where our returns diminish. Every penny above the stock price of $1,080 reduces our profit. If the stock rises past $1,080, a trade adjustment is advised. 



As with all option plays, there are many ways to leave the trade, but I will discuss the following:&nbsp;



<ol>
<li>Sell the back ratio when it has accumulated a predefined profit for your trading style. We have time on our side with this kind of trade, so as long as support holds, the trade premise remains valid. Set an alert for $1,080 as there is only risk if the stock rises sharply and stays there. </li>



<li>Sell the back ratio when there are less than 21 days to expiration as volatility expansion will affect these positions significantly. </li>



<li>Sell the back ratio when it hits a predefined stop or risk limit for your trading style. This trade will erode profits the further above $1,080 it climbs. </li>



<li>&#x2A;&#x2A; You could turn this into a butterfly by buying the strike at $1200, but this becomes a debit and the risk will now be the outlay of cash to purchase the position.</li>
</ol>



<h2 class="wp-block-heading">Trading Volatility: New Strategies to Manage Market Uncertainty</h2>



Markets are breaking down—and breaking out. With 35 years on Wall Street, Matt Maley knows how to read between the headlines. Join him live Wednesday at 6 PM ET to see the technical patterns and setups that can lead to surprising gains—even in a sideways market. Click <a href="https://events2.benzinga.com/matt-maley-webinar-wed-apr23-2025-registration">HERE</a> to reserve your spot now.



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 or impliedly approved or endorsed by Benzinga.



Photo: Shutterstock

Opinion

Trading Ideas

NFLX

How To Trade The One Tariff-Proof Tech Stock

Betting markets are heating up over who might replace Federal Reserve Chair Jerome Powell as President Donald Trump escalates his campaign to reshape <a href="https://www.benzinga.com/topic/jerome-powell">the central bank&#8217;s leadership.</a>



On Kalshi, a CFTC-regulated prediction platform, traders are ramping up bets on who Trump will nominate next to lead the world's most powerful central bank.



Powell's term is set to end in May 2026, yet speculators currently foresee nearly a 1-in-4 chance that Trump will remove him before year's end, despite legal and institutional hurdles.



<h3 class="wp-block-heading">Trump Publicly Attacks Powell Over Interest-Rate Policy</h3>



The surge in speculation follows a week of political fireworks, where Trump not only called for "preemptive" interest rate cuts but also accused Powell of past political favoritism. 



On Monday, the president blasted Powell on Truth Social. "There can be a SLOWING of the economy unless Mr. Too Late, a major loser, lowers interest rates, NOWMr. Too Late, a major loser, lowers interest rates, NOW.&#8221;



Powell has always been ‘Too Late,' except when it came to the Election period when he lowered in order to help Sleepy Joe Biden, later Kamala, get elected," Trump said.



The feud has triggered concerns about central bank independence, with Trump's economic adviser Kevin Hassett confirming the administration is "considering" removing Powell early — a move legal scholars say would test constitutional norms.



Before the political firestorm, Powell appeared at the Economic Club of New York, where he issued a stark warning on Trump's tariff agenda. 



He said that new tariffs are poised to create upward pressure on inflation while simultaneously slowing growth, potentially undermining the Fed's dual mandate of stable prices and maximum employment.



This could force the central bank to prioritize whichever variable — inflation or the labor market — is further away from target, Powell indicated. The Chairman also reiterated that there is no rush to cut rates amid the current economic uncertainty.



<h3 class="wp-block-heading">Who Are The Contenders?</h3>



Kevin Warsh: A former Fed governor between 2006 and 2011, Warsh was a vocal critic of quantitative easing and has expressed concerns over loose monetary policy. While historically hawkish, he is politically well-connected and previously advised the Trump administration, making him a potential pick to reshape the Fed's direction—even if that includes adapting to Trump's push for lower rates.



Kevin Hassett: An economist who served as chairman of the Council of Economic Advisers under Trump (2017–2019), Hassett is closely aligned with Trump's economic agenda and is currently Director of the National Economic Council. His influence has grown in recent months.



Judy Shelton: An outspoken advocate for a return to the gold standard, Shelton was nominated by Trump to the Fed board in 2020 but failed to secure Senate confirmation. Her views on monetary policy and Fed independence are controversial but align with Trump's skepticism of current Fed leadership.



Larry Kudlow: Former director of the National Economic Council under Trump and now a Fox Business host, Kudlow is a long-time supply-side economist and advocate for pro-growth, low-tax, low-rate policies. Although not a central banker, his media profile and loyalty to Trump make him a viable political pick.



Arthur Laffer: The father of the "Laffer Curve" and a supply-side icon, Laffer was awarded the Presidential Medal of Freedom by Trump in 2019. While he has never served in a central banking role, his ideological alignment with Trump's views makes him a symbolic candidate.



Jerome Powell: Powell's odds have dropped drastically amid Trump's repeated verbal attacks. While the Fed chair has said he intends to serve his full term, markets view renomination as increasingly unlikely.



<h3 class="wp-block-heading">Betting On Powell's Successor</h3>



Here's where the money is going on Kalshi's "Who will Trump nominate as Fed Chair?" market. 



<iframe loading="lazy" src="https://kalshi.com/external-widgets/events/KXFEDCHAIRNOM-29?color_scheme=light&#038;widget_size=medium&#038;variant=a&#038;ids=KXFEDCHAIRNOM-29-KW&#038;ids=KXFEDCHAIRNOM-29-KH&#038;ids=KXFEDCHAIRNOM-29-JS" width="488px&#038;utm_campaign=benzinga_widget" height="196px" style="border:0"></iframe>



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><thead><tr><th>Candidate</th><th>Odds</th><th>Payout per $100</th></tr></thead><tbody><tr><td>Kevin Warsh</td><td>44%</td><td>$194</td></tr><tr><td>Kevin Hassett</td><td>16%</td><td>$557</td></tr><tr><td>Judy Shelton</td><td>12%</td><td>$710</td></tr><tr><td>Larry Kudlow</td><td>11%</td><td>$768</td></tr><tr><td>Arthur Laffer</td><td>8%</td><td>$1,300</td></tr><tr><td>Jerome Powell</td><td>2%</td><td>$1,640</td></tr></tbody></table></figure>



Read now: 



<ul>
<li><a href="https://www.benzinga.com/government/regulations/25/04/44903750/gold-price-soars-to-record-highs-eyes-best-2-month-rally-since-2011-on-blockbuster-etf-buying">Gold Price Soars To Record Highs, Eyes Best 2-Month Rally Since 2011 On Blockbuster ETF Buying</a></li>
</ul>



Photo: Shutterstock

Regulations

Speculators Ramp Up Bets On Who Will Succeed Fed Chair Powell As Trump's Pressure Campaign Intensifies

Stocks in the U.S. were trading sharply lower by midday Monday, while gold and Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) surged in tandem, as a renewed political storm surrounding Federal Reserve independence shook confidence in the U.S. dollar and triggered a broad-based risk-off <a href="https://www.benzinga.com/government/regulations/25/04/44899280/are-investors-selling-us-treasuries-as-trump-attacks-powell-heres-what-latest-etf-flows-tell-you">mood on U.S. assets.</a>



The market opened the post-Easter trading week with deep losses, after President Donald Trump took to Truth Social demanding immediate rate cuts and blasting Fed Chair Jerome Powell as "Mr. Too Late," accusing him of past political bias and inflation misjudgment. 



Trump wrote that there's "virtually no inflation" and warned of an economic slowdown unless Powell acts "NOW."



The latest barrage reignited fears that central bank independence may be under direct threat, just days after reports emerged that the Trump administration is weighing Powell's removal ahead of his scheduled 2026 term expiration.



The U.S. Dollar Index (DXY) fell as much as 1%, marking its lowest level since early 2022, as the greenback weakened against a basket of major currencies including the Japanese yen, euro and Swiss franc. 



The selloff has intensified speculation that foreign investors may accelerate the repatriation of capital from U.S. assets amid mounting political and monetary instability.



The S&amp;P 500 dropped 2.8% by midday, with the Nasdaq 100 falling 3%, led lower by steep losses in megacap tech and financials. Every major sector was in the red, with 490 of the 500 S&amp;P 500 stocks trading lower.



In another break from historical norms, U.S. Treasury yields climbed even as equities tanked and volatility spiked. The 30-year yield rose 7 basis points to 4.87%, signaling investor selling of government debt. The CBOE Volatility Index (VIX) jumped 15%. 



Gold-linked equities were the few bright spots in an otherwise brutal session. Gold prices – as tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) – surged 2.6% to $3,410 per ounce, pushing the year-to-date gain to nearly 30%—on track for the metal's best annual performance since 2007. 



The move extends gold's stunning 2-month rally, now nearing 20%, amid persistent demand for safe-haven assets.



Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) gained 3.5% to trade at $88,274, echoing gold's momentum as investors seek alternatives to fiat currencies.



Monday&#8217;s Performance In Major US Indices, ETFs



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Major Indices</td><td>Price</td><td>Chg (%)</td></tr><tr><td>Russell 2000</td><td>1,837.81</td><td>-2.3%</td></tr><tr><td>Dow Jones</td><td>38,097.81</td><td>-2.7%</td></tr><tr><td>S&amp;P 500</td><td>5,135.83</td><td>-2.8%</td></tr><tr><td>Nasdaq 100</td><td>17,727.70</td><td colspan="2">-3.0%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated at 12:20 p.m. ET</figcaption></figure>



According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:



<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 2.8% up to $511.49.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) fell 2.7% to $380.65.</li>



<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;tumbled 3% to $430.76.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 2.3% to $182.28.</li>



<li>The&nbsp;Consumer Staples&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) outperformed, yet falling 1.4%; the&nbsp;Consumer Discretionary&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) lagged, down 3.5%.</li>
</ul>



<h3 class="wp-block-heading">S&amp;P 500&#8217;s Top Performers On Monday</h3>



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><thead><tr><th>Company Name</th><th>% Change</th></tr></thead><tbody><tr><td>Fidelity National Information Services, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FIS#NYSE">FIS</a>)</td><td>3.81%</td></tr><tr><td>Discover Financial Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFS#NYSE">DFS</a>)</td><td>2.89%</td></tr><tr><td>Netflix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>)</td><td>1.75%</td></tr><tr><td>Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>)</td><td>1.02%</td></tr><tr><td>Ulta Beauty, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULTA#NASDAQ">ULTA</a>)</td><td>0.86%</td></tr></tbody></table></figure>



<h3 class="wp-block-heading">S&amp;P 500&#8217;s Worst Performers On Monday</h3>



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><thead><tr><th>Company Name</th><th>% Change</th></tr></thead><tbody><tr><td>Universal Health Services, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UHS#NYSE">UHS</a>)</td><td>-10.31%</td></tr><tr><td>Vistra Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>)</td><td>-8.34%</td></tr><tr><td>Constellation Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>)</td><td>-8.23%</td></tr><tr><td>Humana Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>)</td><td>-7.48%</td></tr><tr><td>Blackstone Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>)</td><td>-7.42%</td></tr></tbody></table></figure>



Read now: 



<ul>
<li><a href="https://www.benzinga.com/news/25/04/44886209/if-you-had-bet-on-gold-after-the-1971-nixon-shock-youd-have-beaten-the-sp-500-unless-you-did-this-one-thing">If You Had Bet On Gold After The 1971 Nixon Shock, You&#8217;d Have Beaten The S&amp;P 500 — Unless You Did This One Thing</a></li>
</ul>



Photo: FOTOGRIN/Shutterstock

Large Cap

$BTC

MRNA

ULTA

Wall Street Sinks, Dollar Slides As Trump Ramps Up Fed Attacks: What's Driving Markets Monday?

Analysts highlight advertising revenue growth and future catalysts for Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) after the company beat first-quarter revenue and <a href="https://www.benzinga.com/general/entertainment/25/04/44877995/netflix-crushes-q1-says-its-working-hard-to-improve-and-expand-its-offering">earnings per share estimates</a>.



<h2 class="wp-block-heading">The Netflix Analysts</h2>



<ul>
<li>Macquarie analyst Ross Compton maintained an Outperform rating on Netflix and raised the price target from $1,150 to $1,200.</li>



<li>JPMorgan analyst Doug Anmuth reiterated an Overweight rating and raised the price target from $1,025 to $1,150.</li>



<li>KeyBanc analyst Justin Patterson maintained an Overweight rating and raised the price target from $1,000 to $1,070.</li>



<li>Benchmark analyst Matthew Harrigan maintained a Hold rating with no price target.</li>



<li>Needham analyst Laura Martain maintained a Buy rating with a $1,126 price target.</li>



<li>Wedbush analyst Alician Reese reiterated an Outperform rating and raised the price target from $1,150 to $1,200.</li>
</ul>



Macquarie: Advertising monetization could give Netflix a competitive advantage, Compton said in a new investor note.



"Mgmt confirmed they are not seeing a slowdown or pullback in add spend given recent macro uncertainty," he said.



Future catalysts for Netflix include further price increases and the company's upcoming content slate, Compton added. "Its ad-tier represents a broadened and deepened that comfortably paves multi-year double-digit top line growth."



Read Also: <a href="https://www.benzinga.com/general/entertainment/25/03/44574912/elon-musk-attacks-netflix-hit-series-shares-anti-white-propaganda-allegation-heres-how-the-shows-writer-claps-back">Elon Musk Attacks Netflix Hit Series, Shares &#8216;Anti-White Propaganda&#8217; Allegation: Here&#8217;s How The Show&#8217;s Writer Claps Back</a>



JPMorgan: The streaming company is "playing offense," while its stock remains defensive, Anmuth said in a new investor note.



The analyst said Netflix's first-quarter financial results and outlook were "solid" and point to confidence in the 2025 full-year results.



Anmuth said that double-digit revenue growth supports Netflix&#8217;s bull thesis. He also cited operating margin expansion, improving profit and cash content discipline, a strong leadership position, and the company's potential to become a global TV company with international expansion.



"We believe NFLX is a key beneficiary and driver of the ongoing disruption of linear TV, with Netflix's content performing well globally and driving a virtuous circle of strong subscriber growth, more revenue, and growing profit," Anmuth said.



KeyBanc: The streaming giant highlighted its minimal impact from tariffs and macroeconomic concerns along with strength for its advertising business, Patterson said in a new investor note.



"Netflix's 1Q results reinforced that the Company is relatively insulated from the macro, has 2H catalysts (Stranger Things, Wednesday), and a margin cushion," Patterson said.



The analyst said ad personalization is still in the early innings and Netflix should benefit from its ad-tech platform going forward.



"We believe Netflix is poised for more balanced growth between subscribers and monetization over the MT."



Benchmark: Harrigan said in a new investor note that Netflix shares could be fairly valued despite the bulls&#8217; proposition that they are a safe-haven stock.



The analyst said the stock may provide a buffer against Trump tariffs and global recession, but has limited upside to the stock price.



"Given management's decision not to continue reporting quarterly member tallies we have now pivoted our primary valuation sensitivity to realized 2030 revenue and operating margins," Harrigan said.



Harrigan said Netflix would be "considerably overvalued" if traded as a media company.



Needham: The streaming giant faced more questions about advertising given it no longer breaks out subscriber figures or paid member growth, Martin said in a new analyst note.



"NFLX stated that it has seen no meaningful changes in retention, churn, or plan mix owing to tariffs or a slowing economy," Martin said.



The analyst said Netflix sees its ad-tier ($7.99/month) as a defensive move to keep churn low. The company said it expects advertising revenue to double in 2025.



Martin said the things to like the most about Netflix are global scale, price increases, bundling with other services and advertising revenue growth accelerating. Wedbush: With a "virtually insurmountable lead in the streaming wars," Netflix gets a price target increase from Reese in a new investor note.



The analyst said Netflix's first-quarter results likely came with higher subscriber additions and revenue per member, despite the company no longer sharing these figures.



"Even with higher pricing, offering its members a vast library of original and licensed content and the option to trade down to less expensive tiers has significantly limited churn," Reese said.



Reese said Netflix is also positioned to boost its ad-tier with live events and improved advertising solutions.



"While massive subscribers growth was the primary driver in 2024, we expect price increases to drive revenue growth in 2025, and the ad tier to drive revenue higher in 2026."



Price Action: Netflix stock is up 2.6% to $998.74 on Monday versus a 52-week trading range of $542.01 to $1,064.50. Netflix stock is up 12.6% year-to-date in 2025.



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</ul>



Image: Shutterstock

Analyst Color

Entertainment

Price Target

Reiteration

Analyst Ratings

Netflix 'Playing Offense' While Stock Plays Defense: 6 Analysts On Q1 Results, Advertising Growth Ahead

Gold surged to fresh all-time highs on Monday, with bullion jumping 2.5% to $3,410 per ounce by 11:20 a.m. ET, as mounting distrust in U.S. financial assets and inflation fears drive a flight to safety unlike anything seen since the global debt crises <a href="https://www.benzinga.com/topic/donald-trump">of the early 2010s.</a>



Since early March, gold prices — tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) — have climbed an astonishing 19.4%, putting the metal on track for its strongest two-month rally since August 2011.



A perfect storm of macro instability, political friction and investor skepticism about the dollar and U.S. Treasuries is fueling the run.



<h1 class="wp-block-heading">What's Behind The Gold Boom?</h1>



The root of gold's dramatic resurgence lies in a potent mix of fundamental, structural and behavioral drivers.



The U.S. dollar and long-duration Treasuries — once go-to safe havens — have come under pressure in recent weeks amid President Donald Trump's tariff offensive and his escalating feud with Fed Chair Jerome Powell, raising fears over political interference and eroding confidence in U.S. institutions.



In this climate, gold's reputation as a neutral, time-tested store of value is attracting capital seeking stability.



As a result, traditional hedges have faltered. But gold, immune to sovereign missteps and backed by centuries of store-of-value status, has emerged as a refuge for capital looking for shelter from rising macro uncertainty.



Read also: <a href="https://www.benzinga.com/government/regulations/25/04/44899280/are-investors-selling-us-treasuries-as-trump-attacks-powell-heres-what-latest-etf-flows-tell-you">Are Investors Selling US Treasuries As Trump Attacks Powell? Here&#8217;s What Latest ETF Flows Tell You</a>



<h1 class="wp-block-heading">Massive Inflows Into Gold ETFs Confirm Strong Investment Demand</h1>



Investor appetite for gold is clearly visible in the massive inflows into gold-backed exchange-traded funds (ETFs) since mid-January, when Trump made his official return to the White House:



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><thead><tr><th>ETF Name </th><th>Inflows (Mid-January to Mid-April)</th></tr></thead><tbody><tr><td>SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>)</td><td>$8.35 billion</td></tr><tr><td>iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>)</td><td>$3.5 billion</td></tr><tr><td>SPDR Gold MiniShares Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLDM#NYSE">GLDM</a>)</td><td>$2.46 billion</td></tr><tr><td>ProShares Ultra Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UGL#NYSE">UGL</a>)</td><td>$117 million</td></tr><tr><td>Goldman Sachs Physical Gold ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAAU#NYSE">AAAU</a>)</td><td>$304.9 million</td></tr></tbody></table></figure>



These blockbuster flows signal broad-based institutional and retail demand. According to Goldman Sachs analyst Lina Thomas, the rally is not being fueled by short-term speculators.



"Data suggests the move has occurred without a substantial return of speculative flows," Thomas said. 



"With estimated COMEX speculative positioning still moderate, we view the rally as structurally supported and less exposed to sharp near-term liquidation risk. Thus, we see current levels as a tactically attractive entry point… and believe this reinforces upside risk to our $3,700/toz year-end forecast."



Ed Yardeni, president of Yardeni Research, said the current momentum validates his call from over a year ago. 



"We&#8217;ve been bullish on gold since it broke out above $2,000 per ounce at the end of February 2024. Our $4,000 target by the end of this year looks increasingly realistic. If that happens, then $5,000 would be our target for the end of 2026."



"This situation may come as a crisis for many assets, but for gold, it's a perfect outcome. Inflation fears remain high as the U.S. stock market loses trillions of dollars, and investors are leaning toward physical gold in search of security rather than risky assets like stocks and Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)," said Rick Kanda, managing director at The Gold Bullion Company, in an email.



<h1 class="wp-block-heading">Miners Regain Momentum</h1>



The rally is also lifting gold miners, many of which had lagged physical bullion for much of 2024. Now, they're catching up. "Gold has surged to new all-time highs above $3,000/ounce, driven by renewed flows into gold-backed ETFs and continued strong demand from global central banks," VanEck said Monday.



"At the same time, gold miners are beginning to regain leverage to gold prices, emerging as some of the best-performing stocks so far this year."



The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) is up nearly 52% year-to-date, eyeing the strongest annual gain since the fund&#8217;s inception in 2007.



In response to the metal's powerful rally, Bank of America on Monday raised price targets across its North American gold and silver coverage. 



The move comes just ahead of first-quarter earnings season in the precious metals sector, which begins April 23 with Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) and continues with Agnico Eagle Mines Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEM#NYSE">AEM</a>) on April 24.



Here are the new price targets for key names:



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><thead><tr><th>Company</th><th>New Target</th><th>Previous Target</th></tr></thead><tbody><tr><td>Agnico Eagle Mines </td><td>$159</td><td>$142</td></tr><tr><td>Barrick Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>)</td><td>$23</td><td>$19.50</td></tr><tr><td>Kinross Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KGC#NYSE">KGC</a>)</td><td>$17.50</td><td>$15</td></tr><tr><td>Newmont Corp. </td><td>$70</td><td>$60</td></tr><tr><td>B2Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTG#NYSE">BTG</a>)</td><td>$3.10</td><td>$2.75</td></tr><tr><td>Centerra Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CGAU#NYSE">CGAU</a>)</td><td>$6.50</td><td>$5.50</td></tr><tr><td>Eldorado Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGO#NYSE">EGO</a>)</td><td>$19.50</td><td>$17.25</td></tr><tr><td>IAMGOLD Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAG#NYSE">IAG</a>)</td><td>$9.25</td><td>$7.75</td></tr><tr><td>SSR Mining Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SSRM#NASDAQ">SSRM</a>)</td><td>$9.75</td><td>$8.50</td></tr><tr><td>Alamos Gold Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGI#NYSE">AGI</a>)</td><td>$35</td><td>$30.50</td></tr><tr><td>New Gold Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NGD#NYSE">NGD</a>)</td><td>$4.55</td><td>$4.10</td></tr><tr><td>Pan American Silver Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAAS#NASDAQ">PAAS</a>)</td><td>$32</td><td>$27</td></tr><tr><td>Franco-Nevada Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FNV#NYSE">FNV</a>)</td><td>$195</td><td>$165</td></tr><tr><td>Royal Gold Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGLD#NASDAQ">RGLD</a>)</td><td>$183</td><td>$164</td></tr><tr><td>Triple Flag Precious Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFPM#NYSE">TFPM</a>)</td><td>$27</td><td>$24</td></tr><tr><td>Wheaton Precious Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WPM#NYSE">WPM</a>)</td><td>$100</td><td>$86</td></tr></tbody></table></figure>



Read Now: 



<ul>
<li><a href="https://www.benzinga.com/news/25/04/44886209/if-you-had-bet-on-gold-after-the-1971-nixon-shock-youd-have-beaten-the-sp-500-unless-you-did-this-one-thing">If You Had Bet On Gold After The 1971 Nixon Shock, You&#8217;d Have Beaten The S&amp;P 500 — Unless You Did This One Thing</a></li>
</ul>



Photo: Shutterstock

Sector ETFs

Specialty ETFs

Commodities

AAAU

CGAU

GLDM

GOLD

PAAS

RGLD

SSRM

TFPM

Gold Price Soars To Record Highs, Eyes Best 2-Month Rally Since 2011 On Blockbuster ETF Buying

Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) will report its first-quarter earnings on Tuesday <a href="https://www.benzinga.com/calendars/earnings?tickers=TSLA">after market hours</a>. 



Wall Street expects the company to report 41 cents per share earned on revenue of $21.35 billion for the quarter. Investors are watching closely to see if CEO Elon Musk can jolt the narrative around a slumping stock.



The stock is up 69.93% over the past year but has crashed 36.36% year-to-date.



Let's look at what the charts indicate for Tesla stock and how it currently maps against Wall Street estimates.



Read Also: <a href="https://www.benzinga.com/markets/25/04/44894382/tesla-battery-supplier-catl-unveils-new-fast-charging-battery-with-323-mile-range-in-five-minutes">Tesla Battery Supplier CATL Unveils New Fast-Charging Battery With 323-Mile Range In Five Minutes</a>



<h2 class="wp-block-heading">Tesla Stock Chart Bearish Ahead Of Q1 Earnings</h2>



Tesla stock was trading lower pre-market Monday following reports the company is pushing back the U.S. debut of an affordable Model Y. That&#8217;s not exactly the spark bulls were hoping for- and the charts are echoing that pessimism loud and clear.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0421"><img loading="lazy" decoding="async" width="627" height="489" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/21081750/Screenshot-2025-04-21-at-5.47.02-PM.png" alt="" class="wp-image-879576" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/21081750/Screenshot-2025-04-21-at-5.47.02-PM.png 627w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/21081750/Screenshot-2025-04-21-at-5.47.02-PM-300x234.png 300w" sizes="(max-width: 627px) 100vw, 627px" /></a></figure>



<a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0421">Chart created using Benzinga Pro</a>



Technically, Tesla stock is in a strongly bearish trend, with the share price below the five, 20 and 50-day exponential moving averages. It's also flashing bearish signals across all major simple moving averages:



<ul>
<li>Eight-day SMA: $248.73 vs. TSLA stock at $231.79</li>



<li>20-day SMA: $333.49</li>



<li>50-day SMA: $276.67</li>



<li>200-day SMA: $249.33</li>
</ul>



The Moving Average Convergence Divergence (MACD) sits at a negative 18.29, signaling more downside, while a Relative Strength Index (RSI) of 37.06 suggests the stock is heading towards being oversold &#8211; potentially setting up a bounce if earnings surprise to the upside.



<h2 class="wp-block-heading">Tesla Stock Analysts Consensus Ratings</h2>



Ratings &amp; Consensus Estimates: The <a href="https://www.benzinga.com/quote/TSLA/analyst-ratings">consensus analysts rating</a> on Tesla stock stands at a Buy, with a consensus price target of $298.14.



The three most recent analyst notes—from Piper Sandler, UBS, and Mizuho—were all released in April and suggest an average price target of $321.67, implying a 39.07% upside from current levels.



TSLA Price Action: Tesla stock closed the trading day on Thursday at $241.37, down 0.07%.



Read Next: 



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<li><a href="https://www.benzinga.com/markets/25/04/44892201/2025-largely-doesnt-matter-for-tesla-says-gene-munster-elon-musk-company-poised-for-a-major-rebound-in-2026-and-beyond">2025 &#8216;Largely Doesn&#8217;t Matter&#8217; For Tesla, Says Gene Munster: Elon Musk Company Poised &#8216;For A Major Rebound In 2026 And Beyond&#8217;</a></li>
</ul>



Image: Shutterstock

Technicals

Tech

TSLA

Tesla Q1 Test Drive: Will Earnings Steer The Stock Out Of The Ditch?

Wall Street was gripped by a rare double sell-off Monday morning as U.S. stock futures and the dollar sank in tandem amid mounting fears that President Donald Trump could move to oust Federal Reserve Chair Jerome Powell well before his term expires in May 2026.



The U.S. dollar index, tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), fell 1.3% to 98.2, its lowest level since April 2022.



Meanwhile, futures tied to the S&amp;P 500 index dropped 1.1% by 8:15 a.m. ET, with contracts on the Nasdaq 100 down 1.6%, reflecting the broad-based sell-off in U.S. assets.



<h2 class="wp-block-heading">Markets Fear Fed Interference</h2>



Trump had already laid the groundwork for market anxiety last week with a Truth Social post attacking Powell's leadership. "Jerome Powell is always too late and wrong. His termination cannot come fast enough."



Trump criticized Powell for not cutting interest rates despite falling oil prices and easing inflation concerns.



He then escalated the rhetoric during a public appearance with Italian Prime Minister Giorgia Meloni on Thursday. "If I want him out, he&#8217;ll be out of <a href="https://www.benzinga.com/economics/macro-economic-events/25/04/44875406/hell-be-out-if-i-ask-him-can-trumps-threat-to-oust-powell-shake-the-fed">there real fast. Believe me."</a>



National Economic Council director Kevin Hassett added fuel to the fire on Good Friday, when markets were closed for the Easter holiday, by confirming that the Trump administration is "considering" firing Powell.



"If Powell is removed from his position at the Fed, the impact on global markets and the USD could be severe," said Alejandro Cuadrado, strategist at BBVA, in a note Monday. 



"Independence and credibility are key assets for the Fed and the US. If investors fear the US administration will control the central bank, the impact on confidence would be unprecedented."



The market response is already visible in futures and foreign exchange flows. The synchronized sell-off in both U.S. equities and the dollar is particularly alarming for global investors, who often rely on the dollar as a safe-haven hedge during periods of equity market stress.



According to CFTC-regulated Kalshi, there is a 23% chance Powell could be ousted before the end of his mandate. 



<h3 class="wp-block-heading">Goldman Sachs Flips On The Dollar</h3>



Major investment banks have already begun downgrading their stance on U.S. assets. Goldman Sachs's Kamakshya Trivedi said the firm reversed its bullish dollar outlook weeks ago, citing rising economic policy risks.



"We flipped our Dollar view a few weeks ago, based in large part on tariffs and other US policy shifts raising uncertainty and impairing sentiment in the US," Trivedi said. "We expect that shift will lead to less exceptional outcomes for US assets."



CFTC data released Friday backs that sentiment, showing continued outflows from dollar positions and growing bearish bets by hedge funds and institutional investors.



<h3 class="wp-block-heading">Long-Term Consequences Could Be Inflationary</h3>



Intervention in Fed policymaking doesn't just shake short-term confidence, it could have lasting inflationary effects. 



Shaun Osborne, chief foreign exchange strategist at Scotiabank, said historical data shows a strong link between central bank independence and inflation stability.



"Political interference in Fed policy making would erode confidence in the USD and may bolster inflation in the longer run," Osborne said. 



"There is ample literature showing a high correlation between central bank independence and low and stable inflation."



Even if Trump does not formally fire Powell, one potential workaround could involve nominating a "chairman in waiting" who actively comments on monetary policy before taking office, undermining Powell's authority and market credibility.



<h3 class="wp-block-heading">Contrarians Smell Opportunity Amid Panic</h3>



But not everyone is convinced that the panic will last. Veteran investor Ed Yardeni, president of Yardeni Research, sees signs that the bearishness could be peaking—possibly setting the stage for a countertrend rally.



"We don't recall this ever happening before," Yardeni said, referring to a recent trio of The Economist covers predicting a collapse in the dollar, U.S. markets and the global economy. 



"Contrarians of the world, unite! Markets are always at peak bearishness before the bull," he said.



Yardeni acknowledges the wave of concerns—from Trump's chaotic trade war and foreign policy risks to Chinese deflation and the soaring price of gold—but indicates that the sheer saturation of negativity could signal an oversold environment.



One reason for hope: Beijing's recent signals that it is open to renegotiating trade with the Trump administration. Any progress on that front could ease global trade tensions and help stabilize investor sentiment.



Read now: 



<ul>
<li><a href="https://www.benzinga.com/25/04/44892995/us-stocks-likely-to-open-lower-after-truncated-week-best-and-worst-days-tend-to-occur-near-the-same-time-says-expert">US Stocks Likely To Open Lower: &#8216;Best And Worst Days Tend To Occur Near The Same Time,&#8217; Says Expert</a></li>
</ul>



Photo: Shutterstock

Currency ETFs

Dollar Hits 3-Year Lows, US Stocks Tumble As Trump Threatens To Fire Powell: 'Contrarians Of The World, Unite!'

Editor&#8217;s Note: Additional details have been added to this story.



The Vatican has announced the death of Pope Francis at the age of 88. 



Born in 1936, Pope Francis was the first South American Pope and became known as the &#8220;People&#8217;s Pope&#8221; for advocating for the poor and those fleeing war and hunger. The pontiff, serving as the Bishop of Rome and leader of the Catholic Church, assumed the papacy in 2013 following the resignation of his predecessor, Benedict XVI.



Cardinal Kevin Farrell announced his death in a <a href="https://www.vaticannews.va/en/pope/news/2025-04/pope-francis-dies-on-easter-monday-aged-88.html">statement</a> issued by the Vatican. He said: &#8220;Dearest brothers and sisters, with deep sorrow I must announce the death of our Holy Father Francis.&#8221;



The process for selecting a new pope — the &#8220;conclave&#8221; — typically occurs between 15 and 20 days following the death of a pontiff.



On Feb. 14, the Pope was hospitalized for bronchitis. He was later diagnosed with bilateral pneumonia and received blood transfusions due to low platelet levels linked to anemia. By February 22, his condition became critical due to a prolonged respiratory crisis, and the next day, he showed signs of mild kidney failure.



He was discharged after a 38-day hospital stay on March 23 and made his first public appearance in five weeks, smiling and giving a thumbs up from a balcony at Gemelli.



He went back to the Vatican, unexpectedly stopping at his favourite basilica on the way, before starting two months of prescribed rest and recovery.



On Sunday, he greeted the crowds at the Easter Sunday Service, just one day after meeting U.S. Vice President JD Vance and family.



Pope Francis&#8217; Personal Life



Pope Francis was born Jorge Mario Bergoglio on Dec. 17, 1936, in Buenos Aires, Argentina. He was the eldest of five children of Mario José Bergoglio, a railway accountant, and Regina María Sívori; both were Italian immigrants. In his youth, Francis <a href="https://www.biography.com/religious-figures/pope-francis">underwent surgery</a> to remove part of his lungs following a severe infection. 



The Pope graduated from a technical school as a chemical technician. After working briefly at a food processing plant, he felt called to a life in the church. He entered the Jesuit novitiate in 1958 and went on to earn a licentiate in philosophy in Buenos Aires province. He then went on to teach high school literature and psychology while pursuing a degree in theology.



Early Career In The Church



Pope Francis was ordained a priest in 1969 and completed his final vows in the Jesuit order in 1973. He served as superior of the Jesuit province of Argentina from 1973 to 1979.



The Pope was promoted to Coadjutor Archbishop of Buenos Aires in 1997 and became archbishop of Buenos Aires in 1998. He was elevated to a cardinal in 2001 and named the 266th pope of the Roman Catholic Church following the resignation of Pope Benedict XVI in 2013.&nbsp;



Pope Francis was known for being approachable, relatable and down-to-earth. He reflected these attitudes by downgrading his <a href="https://www.vox.com/2018/7/13/17570124/who-is-pope-francis">papal gear,</a> a move that represented his sensitivity toward poverty.&nbsp;



Pope Francis was named &#8220;Person of the Year&#8221; by Time and LGBT-interest magazine The Advocate in 2013 and by People for the Ethical Treatment of Animals in 2015. He was also awarded the International Charlemagne Prize of Aachen <a href="https://www.europarl.europa.eu/news/es/press-room/20160502IPR25453/pope-francis-to-be-awarded-charlemagne-prize-on-6-may">in 2016</a> for his services in European unification.&nbsp;



He was the author of a number of books, including &#8220;The Name of God is Mercy,&#8221; &#8220;Laudato Si&#8217;: On the Care of Our Common Home&#8221; and &#8220;Evangelii Gaudium: The Joy of the Gospel.&#8221;



Pope Francis is survived by his sister María Elena Bergoglio. 



This article includes reporting contributions from Wayne Duggan.



Image via Shutterstock



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

Pope Francis, First South American Pontiff And 'People's Pope,' Dies At 88 (UPDATED)

The S&amp;P 500 index could still be hovering in the bubble territory as the cyclical adjusted price-to-earnings ratio, or the S&amp;P 500 Shiller CAPE ratio, remains above the level of 30 for 18 consecutive months, underscoring a rare historical trend.



What Happened: Unlike the trailing P/E, the Shiller P/E is a valuation methodology that uses a 10-year inflation-adjusted average EPS, smoothing out the impact of short-term shocks and recessions on valuation.



According to an X post by Katusa Research, the market is &#8220;approaching bubble territory,&#8221; as this metric was nearly twice its historical average of 17.58.



&#8220;By this measure (recent correction included), stocks are still historically expensive,&#8221; the post 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">Shiller CAPE: Approaching Bubble Territory The Cyclically Adjusted Price-to-Earnings ratio (made by Robert Shiller) smooths out short-term earnings fluctuations By using 10 years of inflation-adjusted earnings. The current CAPE ratio stands at 34.97, more than double its… <a href="https://t.co/qgmkFxkP09">pic.twitter.com/qgmkFxkP09</a>&mdash; Katusa Research (@KatusaResearch) <a href="https://twitter.com/KatusaResearch/status/1912948966070894869?ref_src=twsrc%5Etfw">April 17, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



According to the data by YCharts, the CAPE ratio was above the level of 30 for the 17th consecutive month in March and hovered at approximately 33.12 for April as of Thursday&#8217;s close.



According to a report by Motley Fool, over the last 154 years, the CAPE ratio has surpassed the level of 30 for two consecutive months, <a href="https://www.fool.com/investing/2024/12/15/stock-market-threshold-6-times-1871-history-says/?utm_source=nasdaq&amp;utm_medium=feed&amp;utm_campaign=article&amp;referring_guid=f28929f2-4dcd-438a-8500-696d9ca0cb67">only six times</a>. 



Moreover, the S&amp;P 500 index formed a <a href="https://www.benzinga.com/25/04/44805223/the-sp-500-closes-with-first-death-cross-since-2022-heres-what-it-means-for-the-markets">death cross</a> for the first time since March 2022 last week. According to i3 Invest CEO, Guilherme Tavares, the death cross, combined with an elevated CAPE ratio, has been historically observed only three times before April 2025. 



<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">That&#39;s it folks. The S&amp;P 500 has just triggered a death cross for the first time following a CAPE ratio that exceeded two standard deviations above its long-term exponential trend. The other 3 times this happened: &#8211; Nov/1929 &#8211; Oct/2000 &#8211; Mar/2022 Place your bets. <a href="https://t.co/hoUdiAcOIx">pic.twitter.com/hoUdiAcOIx</a>&mdash; Guilherme Tavares (@i3_invest) <a href="https://twitter.com/i3_invest/status/1912959249065611663?ref_src=twsrc%5Etfw">April 17, 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/25/04/44891949/chinese-commerce-ministry-pledges-retaliation-against-countries-isolating-beijing-with-us-at-the-expense-of-chinas-interests">Xi Jinping&#8217;s China Pledges Retaliation Against Countries Isolating Beijing By Giving Into Trump Administration&#8217;s &#8216;Unilateral Bullying,&#8217; Says It Will &#8216;Never Accept It&#8217;</a>



Why It Matters: The selloff is triggered by President Donald Trump&#8216;s tariffs, which have created uncertainty among investors and businesses worldwide.



While <a href="https://www.benzinga.com/25/04/44891949/chinese-commerce-ministry-pledges-retaliation-against-countries-isolating-beijing-with-us-at-the-expense-of-chinas-interests">China has been central</a> in the tariff imposition and retaliation, the administration halted the tariffs on other countries for 90 days on April 9. However, the sector-specific tariffs continue to keep the stocks on edge.



As of Thursday&#8217;s close, the S&amp;P 500 index was down 14.1% from its all-time high of 6,147.43 points. The Dow Jones Industrial Average was 13.15% below its 52-week high, whereas the Nasdaq 100 index was 17.84% lower than its previous record.



Price Action: 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 Monday. The SPY was down 0.99% to $521.20, while the QQQ declined 1.08% to $439.26, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44892375/dean-of-valuation-aswath-damodaran-warns-buying-the-dip-akin-to-catching-a-falling-">Dean Of Valuation Aswath Damodaran Warns Buying The Dip Akin To Catching A Falling Knife, Says It Takes A &#8216;Stronger Stomach&#8217; Than Most Have</a></li>
</ul>



Image Via Shutterstock

Markets

General

S&P 500 'Approaching Bubble Territory:' US Stocks Remain Historically Overvalued Despite Recent Correction, Says Market Researcher

U.S. stock futures fell on Monday, following a holiday-shortened week that ended with a mixed performance on Thursday. Major benchmark indices were trading lower in the premarket session.



Chinese Ministry of Commerce <a href="https://www.benzinga.com/25/04/44891949/chinese-commerce-ministry-pledges-retaliation-against-countries-isolating-beijing-with-us-at-the-expense-of-china">warned its trading partners</a> of retaliation in case of Beijing&#8217;s isolation by the U.S. "It should be pointed out in particular that China firmly opposes any party reaching a deal at the expense of China's interests," said the Ministry spokesperson, according to a translated version of the statement.



If the trading partners try to isolate Beijing, "China will never accept it and will resolutely take countermeasures in a reciprocal manner."



Meanwhile, the 10-year Treasury bond yielded 4.36% while the two-year bond was at 3.75%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections show markets pricing an 89% 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>-0.91%</td></tr><tr><td>S&amp;P 500</td><td>-1.06%</td></tr><tr><td>Nasdaq 100</td><td>-1.18%</td></tr><tr><td>Russell 2000</td><td>-1.86%</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 Monday. The SPY was down 1.07% to $520.79, while the QQQ declined 1.17% to $438.87, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From Last Session:



While several S&amp;P 500 sectors posted gains on Thursday, led by energy, consumer staples, and real estate, the broader U.S. market mostly closed lower.



The Dow Jones marked its third consecutive day of losses. All major indices finished the shortened week in the red, pressured by steep declines in technology and health care.



The downturn was largely influenced by declines in information technology stocks like Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), down around 3%, and health care stocks like UnitedHealth Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>), which plummeted over 22% after <a href="https://www.benzinga.com/general/health-care/25/04/44869920/unitedhealth-ceo-says-high-cost-of-us-health-care-simply-not-sustainable">disappointing earnings</a> and guidance.



Meanwhile, Eli Lilly And Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) soared over 14% on positive weight-loss drug trial data.



Economic data from Thursday showed a decline in housing starts, a drop in jobless claims, and a sharp contraction in the Philadelphia Fed Manufacturing Index.



By Thursday&#8217;s market close, the S&amp;P 500 had fallen 14.1% from its record high of 6,147.43. The Dow Jones was down 13.15% from its 52-week peak, and the Nasdaq 100 had dropped 17.84% from its high.



<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>-0.13%</td><td>16,286.45</td></tr><tr><td>S&amp;P 500</td><td>0.13%</td><td>5,282.70</td></tr><tr><td>Dow Jones</td><td>-1.33%</td><td>39,142.23</td></tr><tr><td>Russell 2000</td><td>0.92%</td><td>1,880.62</td></tr></tbody></table></figure>



Insights From Analysts:



According to the data shared by Ryan Detrick from Carson Research, &#8220;the best and worst days tend to occur near the same time.&#8221;



He cautioned the investors with a graph of best and worst days and said, &#8220;So once again, if you sell after the worst days, odds are the best days are right around the corner.&#8221;



<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">Here&#39;s another way to show that the best and worst days tend to occur near the same time. So once again, if you sell after the worst days, odds are the best days are right around the corner. <a href="https://t.co/Kv1NLDbEUe">pic.twitter.com/Kv1NLDbEUe</a>&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1914151166998462480?ref_src=twsrc%5Etfw">April 21, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Detrick also highlighted that after recent corrections, the S&amp;P 500&#8217;s advance/decline line has held in surprisingly well. He highlighted that the ratio was well above its January lows.



<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">One potential positive is the S&amp;P 500&#39;s advance/decline line has held in surprisingly well. Yes, price made new lows, but the A/D line is still well above the January lows. &#x1f914; <a href="https://t.co/pBOGHx18Yg">pic.twitter.com/pBOGHx18Yg</a>&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1914147677635326079?ref_src=twsrc%5Etfw">April 21, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Meanwhile, Katusa Research underscored in an X post that the market is &#8220;approaching bubble territory,&#8221; as the S&amp;P 500 Shiller CAPE ratio, or the cyclically adjusted price-to-earnings ratio, was nearly twice its historical average of 17.58.



<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">Shiller CAPE: Approaching Bubble Territory The Cyclically Adjusted Price-to-Earnings ratio (made by Robert Shiller) smooths out short-term earnings fluctuations By using 10 years of inflation-adjusted earnings. The current CAPE ratio stands at 34.97, more than double its… <a href="https://t.co/qgmkFxkP09">pic.twitter.com/qgmkFxkP09</a>&mdash; Katusa Research (@KatusaResearch) <a href="https://twitter.com/KatusaResearch/status/1912948966070894869?ref_src=twsrc%5Etfw">April 17, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44892375/dean-of-valuation-aswath-damodaran-warns-buying-the-dip-akin-to-catching-a-falling-">&#8216;Dean Of Valuation,&#8217; Aswath Damodaran</a>, also cautioned investors against the simplistic interpretation of "buying the dip" in his latest blog post.



Damodaran warned that &#8220;buying the dip&#8221; can be like &#8220;catching a falling knife,&#8221; as an initial decline might precede a much steeper and prolonged sell-off. Instead of a one-size-fits-all approach, Damodaran outlines several distinct paths for contrarian investors:



<ul>
<li>The Value Contrarian: This investor seeks out fundamentally undervalued companies that have been unfairly punished by the market. Their focus is on intrinsic value, patiently waiting for the market to recognize the discrepancy between price and worth. Buying the dip for a value contrarian involves identifying fundamentally sound companies whose temporary price decline offers an even more attractive entry point.</li>
</ul>



<ul>
<li>The Sentiment Contrarian: This investor bets against prevailing market sentiment, often buying when fear and pessimism are rampant. They believe that markets tend to overreact, creating opportunities to profit from the eventual correction. For this type, buying the dip is about capitalizing on widespread panic, assuming the underlying fundamentals are not severely compromised.</li>
</ul>



<ul>
<li>The Catalyst-Driven Contrarian: This investor looks for companies facing temporary setbacks or negative news that they believe will eventually be resolved. They buy in anticipation of a specific catalyst that will trigger a positive re-evaluation by the market. Buying the dip here is a calculated bet on a turnaround or the dissipation of current concerns.</li>
</ul>



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 this week:



<ul>
<li>On Monday, March&#8217;s data on the U.S. leading economic indicators will be released by 10:00 a.m. ET.</li>
</ul>



<ul>
<li>On Tuesday, Philadelphia Fed President Patrick Harker will speak at 9:30 a.m., Minneapolis Fed President Neel Kashkari will speak at 2:00 p.m., and Richmond Fed President Tom Barkin will speak at 2:30 p.m. ET.</li>
</ul>



<ul>
<li>On Wednesday, Chicago Fed President Austan Goolsbee will speak at 9:00 a.m., whereas St. Louis Fed President Alberton Musalem and Fed Governor Christopher Waller speak after that at 9:30 a.m. ET.</li>
</ul>



<ul>
<li>April&#8217;s S&amp;P flash U.S. services and manufacturing PMI will be announced by 9:45 a.m., and new home sales data for March will be out by 10:00 a.m. ET.</li>
</ul>



<ul>
<li>Fed Beige Book will be out by 2:00 p.m., and Cleveland Fed President Beth Hammack will speak at 6:30 p.m. ET.</li>
</ul>



<ul>
<li>Atlanta Fed President Raphael Bostic will speak at 7:40 p.m. ET.</li>
</ul>



<ul>
<li>On Thursday, initial jobless claims for the week ended April 19, along with March&#8217;s durable-goods orders data, will be out by 8:30 a.m. ET.</li>
</ul>



<ul>
<li>Existing home sales for March will be released by 10:00 a.m., and Minneapolis Fed President Kashkari will speak again at 5:00 p.m. ET.</li>
</ul>



<ul>
<li>On Friday, April&#8217;s final consumer sentiment data will be announced by 10:00 a.m. ET.</li>
</ul>



Stocks In Focus:



<ul>
<li>Comerica Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>) rose 0.19% in premarket on Monday as it is expected to report earnings before the opening bell. Analysts expect a quarterly earnings of $1.13 per share on revenue of $831.34 million.</li>
</ul>



<ul>
<li>AZZ Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZZ#NYSE">AZZ</a>) declined 2.47% as Wall Street expects it to report earnings of 98 cents per share on revenue of $368.55 billion after the closing bell.</li>
</ul>



<ul>
<li>Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) jumped 2.90% after reporting stronger-than-expected first-quarter financial results after the closing bell on Thursday. The company said it expects second-quarter revenue of $11.04 billion and earnings per share of $6.61.</li>
</ul>



<ul>
<li>Minerals Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTX#NYSE">MTX</a>) dropped 3.28% after issuing preliminary results for the first quarter, expecting revenue of $492 million for the quarter.</li>
</ul>



<ul>
<li>HIVE Digital Technologies Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HIVE#NASDAQ">HIVE</a>) advanced 4.03% after announcing the completion of the first 100 MW infrastructure in Paraguay.</li>
</ul>



<ul>
<li>SHF Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHFS#NASDAQ">SHFS</a>) zoomed 71.30% after it partnered with FundCanna to provide compliant banking and accessible credit facilities to cannabis-related businesses nationwide.</li>
</ul>



<ul>
<li>Vincerx Pharma Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VINC#NASDAQ">VINC</a>) slumped 47.27% as it announced its intention to delist from Nasdaq and deregister with the SEC after receiving a non-compliance notice from Nasdaq on April 14.</li>
</ul>



<ul>
<li>Thunder Power Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIEV#NASDAQ">AIEV</a>) plunged 26.78% after Western Capital Resources completed its tender offer on April 17, accepting 680,087 shares or 7.7% of the former&#8217;s outstanding shares, exceeding its initial target and accommodating all valid tenders.</li>
</ul>



<ul>
<li>Snow Lake Resources Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LITM#NASDAQ">LITM</a>) lost 26.32% as it announced an update on its share repurchase program without disclosing the exact number of shares repurchased, using its corporate funds for buyback.</li>
</ul>



Commodities, Gold, And Global Equity Markets:



Crude oil futures were trading lower in the early New York session by 2.67% to hover around $62.30 per barrel.



Gold Spot US Dollar advanced 2.007% to hover around $3,394.03 per ounce. Its fresh record high stood at $3,396.57 per ounce. The U.S. Dollar Index spot was lower by 1.30% at the 97.9410 level.



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



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/04/44891949/chinese-commerce-ministry-pledges-retaliation-against-countries-isolating-beijing-with-us-at-the-expense-of-china">Xi Jinping&#8217;s China Pledges Retaliation Against Countries Isolating Beijing By Giving Into Trump Administration&#8217;s &#8216;Unilateral Bullying,&#8217; Says It Will &#8216;Never Accept It&#8217;</a></li>
</ul>



Photo courtesy: Shutterstock

Pre-Market Outlook

AIEV

HIVE

LITM

NVDA

SHFS

VINC

US Stocks Likely To Open Lower: 'Best And Worst Days Tend To Occur Near The Same Time,' Says Expert

In a recent post on Truth Social, President Donald Trump defended his stance on tariffs and outlined a list of 8 non-tariff practices that countries resort to.



What Happened: Trump, in a Truth Social post on Sunday, outlined a series of practices he labels as &#8220;non-tariff cheating.&#8221; This includes currency manipulation, VATs acting as tariffs, export subsidies, and protective agricultural standards, among others. He also pointed out counterfeiting, piracy, and IP theft, which according to him cost over $1 trillion annually.



Trump criticized business leaders who oppose tariffs in another post, stating, &#8220;The&nbsp;businessmen who criticize tariffs are&nbsp;bad at business, but really&nbsp;bad at politics.&#8221; He further asserted that he is the &#8220;greatest friend that American capitalism&nbsp;has ever had.&#8221;



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="608" height="394" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/21031045/image-34.png" alt="" class="wp-image-879061" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/21031045/image-34.png 608w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/21031045/image-34-300x194.png 300w" sizes="(max-width: 608px) 100vw, 608px" /></figure>



Trump also mentioned the proclamation of &#8220;LIBERATION DAY,&#8221; stating that numerous world leaders and business executives have sought his help for relief from tariffs. He stressed the importance of other countries rectifying the &#8220;wrongs of decades of abuse,&#8221; and urged businesses to establish themselves in America.



SEE ALSO:&nbsp;<a href="https://benzinga.com/news/25/04/44890554/there-is-complete-meltdown-in-the-building-defense-secretary-loses-four-key-staffers-in-a-single-day" target="_blank" rel="noreferrer noopener">‘There Is Complete Meltdown in the Building': Defense Secretary Loses Four Key Staffers in a Single Day &#8211; Benzinga</a>



Why It Matters: Trump's support for tariffs is a key part of his economic policy, which he defends as a way to counter non-tariff barriers (like quotas, safety standards, and licensing rules) that he says unfairly restrict U.S. exports.



However, it has been found that not just other countries but even the U.S. frequently employs a protectionist measure known as the tariff-rate quota (TRQ) on imports. The TRQ functions more like a non-tariff barrier, as it doesn&#8217;t directly impose duties.



A 2024 study by the St. Louis Federal Reserve found that non-tariff barriers (NTBs) affect over two-thirds of U.S. imports—ranging from components to finished goods—across 15 manufacturing sectors, as reported by Fortune. The study underscores significant differences between tariffs and NTBs across industries and concludes that NTBs are widespread in all sectors of U.S. imports.



&#8220;&#8230;these nations charge the U.S. only slightly higher tariffs than the U.S. levies on their exports, and heap on far fewer non-tariff barriers than we do,&#8221; stated <a href="https://fortune.com/2025/04/16/trump-tariffs-non-tariff-barriers-most-protectionist-nations/">Fortune&#8217;s</a> Shawn Tully. &#8220;Trump's best solution would be offering to lower those NTBs that raise prices for American consumers and hobble our productivity in exchange for our trading partners' agreement to lower their restrictions,&#8221; added Tully.



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<li>READ MORE:&nbsp;<a href="https://benzinga.com/markets/25/04/44891778/nvidia-not-acting-in-us-interests-says-chamath-palihapitiya-questions-how-alibaba-or-deepseek-are-one-ste" target="_blank" rel="noreferrer noopener">Nvidia Not Acting In US Interests, Says Chamath Palihapitiya — Questions, How Alibaba Or DeepSeek Are One Step Ahead</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.

Trump Defends Tariffs, Lists 'Non-Tariff Cheating' Tactics Like Currency Manipulation And IP Theft — Calls Himself The 'Greatest Friend' Of American Capitalism

On Thursday, April 17, U.S. markets closed mixed as investors balanced progress in trade talks with ongoing concerns about interest rates. Optimism followed positive comments on trade negotiations, but uncertainty remained about future deals. While some sectors saw gains, the broader market experienced declines over the week. Traders are focused on upcoming trade discussions and potential actions from the central bank.



In economic data, U.S. housing starts decreased by 11.4% month-over-month to an annualized rate of 1.324 million in March. Initial jobless claims fell by 9,000 to 215,000 in the second week of April, better than the expected 225,000. The Philadelphia Fed Manufacturing Index dropped by 39 points to -26.4 in April, well below the expected 2.



Most sectors on the S&amp;P 500 closed higher, led by energy, consumer staples, and real estate, while information technology and healthcare ended lower.



The Dow Jones Industrial Average declined 1.33% to 39,142.23, the S&amp;P 500 rose 0.13% to 5,282.70, and the Nasdaq Composite slid 0.13% to close at 16,286.45.



Asia Markets Today



<ul>
<li>On Monday, Japan&#8217;s Nikkei 225 fell 1.30% to close at 34,279.50, led by losses in the Paper &amp; Pulp, Transport and Communication sectors.</li>



<li>Australian markets are closed for the Easter holiday.</li>



<li>India&#8217;s Nifty 50 was up 1.11% at 24,119.25, and Nifty 500 rose 1.45% to 21,994.95.</li>



<li>China&#8217;s Shanghai Composite rose 0.45% to 3,291.43, while Shanghai Shenzhen CSI 300 gained 0.33% to 3,784.88.</li>



<li>Hong Kong markets are closed for the Easter holiday.</li>
</ul>



Eurozone at 05:45 AM ET



<ul>
<li>European markets closed for the Easter holiday.</li>
</ul>



Commodities at 05:45 AM ET



<ul>
<li>Crude Oil WTI was trading lower by 2.91% at $62.15/bbl, and Brent was down 2.80% at $66.05/bbl.</li>



<li>Oil prices dropped on Monday amid positive U.S.-Iran talks and concerns over an economic slowdown caused by tariffs. Lower liquidity and fears of reduced fuel demand heightened market volatility.</li>



<li>Natural Gas fell 0.96% to $3.216.</li>



<li>Gold was trading higher by 2.34% at $3,406.26, Silver was up 1.12% to $32.835, and Copper rose 0.87% to $4.7803.</li>



<li>Gold prices hit a new record on Monday, rising due to a weaker dollar, geopolitical tensions, and uncertainty surrounding U.S. Federal Reserve policy.        </li>
</ul>



U.S. Futures at 05:45 AM ET



Dow futures were down 0.98%, S&amp;P 500 futures declined 1.12% and Nasdaq 100 futures fell 1.20%.



Forex at 05:45 AM ET



<ul>
<li>The U.S. Dollar Index slipped 1.29% to 99.19, USD/JPY was down 1.07% to 140.65, and USD/AUD fell 0.18% to 1.5653.</li>



<li>The dollar fell sharply on Monday, hitting decade-lows against the Swiss franc and yen, as concerns grew over President Trump&#8217;s plans to challenge the independence of the Federal Reserve.</li>
</ul>



Photo by FOTOGRIN via Shutterstock

Asia

Emerging Markets

Eurozone

Futures

Forex

ADIV

AGOV

ASHR

BBEU

BOIL

CQQQ

EEMA

FLAX

IEMG

IEUR

KDIV

SPEM

USDU

Gold Rallies To Record, Dollar Drops - Global Markets Today While US Slept

Leading cryptocurrencies rose on Sunday evening following weeks of sideways price action, while stock futures dipped.



<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>1.93%</td><td>$87,151.15</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>-0.22%</td><td>$1,607.66</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>+1.60%</td><td>$0.1591</td></tr></tbody></table></figure>



What Happened: Bitcoin breached the $86,000 barrier to touch $87,000 for the first time in nearly three weeks. The apex cryptocurrency's breakout spurred a similar price action for Dogecoin.



Ethereum, on the other hand, failed to generate momentum, as the second-largest cryptocurrency remained in the $1,600 range.



Bitcoin's monthly gains reached nearly 3%, in stark contrast to ETH&#8217;s 13.26% drop.



The late evening rally pushed the 24-hour liquidations past $220 million, with over $140 million in short positions erased.



Bitcoin&#8217;s Open Interest rose marginally by 0.50% in the last 24 hours, indicating a surge in volatility and speculative demand.&nbsp;



The percentage of traders placing bullish long bets on Bitcoin surged to 55%, according to the Long/Short Ratio, indicating expectations of a sustained rally.



The market sentiment stayed in the &#8220;Fear&#8221; category, according to the Crypto Fear and Greed Index, although the magnitude dipped over the previous day.



Last week also saw some panic in the market after cryptocurrency trading behemoth Binance (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bnb/usd">BNB</a>), along with other exchanges, faced withdrawal disruptions due to an Amazon Web Services outage on Tuesday, according to Reuters. The withdrawals resumed after around 23 minutes.



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>Fartcoin (FARTCOIN)</td><td>10.21%</td><td>$0.909</td></tr><tr><td>Bittensor (TAO)</td><td>9.79%</td><td>$320.99</td></tr><tr><td>Artificial Superintelligence Alliance (FET)</td><td>9.19%</td><td>$0.6065</td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $2.70 trillion, following a marginal increase of 0.10% in the last 24 hours.



Stock futures edged lower overnight Sunday. The Dow Jones Industrial Average Futures fell 158 points, or 0.40%, as of 8:38 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 dipped 0.29%, while Nasdaq 100 Futures slid 0.29%.



Stocks concluded the holiday-shortened week lower as Federal Reserve Chair Jerome Powell expressed <a href="https://www.benzinga.com/economics/macro-economic-events/25/04/44848474/fed-chair-powell-says-tariffs-lead-to-temporary-rise-in-inflation">concern about inflation and slower economic growth</a> due to Trump's tariff measures.&nbsp;



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



Analyst Notes: Popular blockchain analytics firm CryptoQuant stated that the current market movement more likely resembled a "typical correction" than a full bear cycle.



"The previous price increase was relatively modest, indicating limited market overheating, which also suggests the downside risk may be contained," 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">Retail Dominance Index – Binance vs. Other Exchanges "Binance has had a retail dominance of ~89.6%… higher retail ratio suggests broader retail participation with more activity coming from a range of users rather than being concentrated among a few." – By <a href="https://twitter.com/JA_Maartun?ref_src=twsrc%5Etfw">@JA_Maartun</a> <a href="https://t.co/V5iu7Yagnt">pic.twitter.com/V5iu7Yagnt</a>&mdash; CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1913273151183794177?ref_src=twsrc%5Etfw">April 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Widely followed cryptocurrency influencer Scott Melker, aka The Wolf Of All Streets, stated Bitcoin needs to climb over $88,804 to break the trend of lower highs and lower lows.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> Daily Breaking through descending resistance from the all time high. Needs to get above $88,804 to break the series of lower highs and lower lows. Is it time? <a href="https://t.co/0lX0b7rSEe">pic.twitter.com/0lX0b7rSEe</a>&mdash; The Wolf Of All Streets (@scottmelker) <a href="https://twitter.com/scottmelker/status/1914129191819190700?ref_src=twsrc%5Etfw">April 21, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo: Igor Faun/Shutterstock



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$BNB

$DOGE

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Bitcoin Crosses Key Barrier, Dogecoin Spikes, Ethereum Flat On Easter Sunday: Popular Influencer Says BTC Needs To Breach $88,804 For A Bullish Breakout

Dan Ives said on Sunday that Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) are among the most groundbreaking tech firms globally. However, Ives suggests that Elon Musk should step back from governmental roles and refocus on Tesla. 



What Happened: Ives took to X and highlighted the importance of Musk&#8217;s involvement in Tesla&#8217;s upcoming earnings call. 



Ives stated, &#8220;Musk needs to leave the govt, take a step back on DOGE, and get back to being CEO of Tesla full-time in our view.&#8221; This comment comes amid growing concerns about Musk&#8217;s attention being diverted from Tesla to his role in the Department of Government Efficiency under President Donald Trump.



<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">We believe Tesla along with Nvidia are two of the most disruptive technology companies on the globe over the coming years. BUT&#8230;.Musk needs to leave the govt, take a step back on DOGE, and get back to being CEO of Tesla full-time in our view. Big earnings call for Musk Tuesday&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1914113029542760495?ref_src=twsrc%5Etfw">April 21, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Reports have indicated that Musk&#8217;s focus on DOGE has frustrated investors, as they believe it detracts from his responsibilities at Tesla. Recent discussions suggest that Musk&#8217;s role in the government might soon conclude, potentially allowing him to dedicate more time to Tesla.



See Also: <a href="https://benzinga.com/tech/25/04/44836493/rivians-us-centric-supply-chain-could-offer-edge-amid-trumps-auto-tariffs-says-ceo-rj-scaringe" target="_blank" rel="noreferrer noopener">Rivian&#8217;s &#8216;US-Centric&#8217; Supply Chain Could Offer Edge Amid Trump&#8217;s Auto Tariffs, Says CEO RJ Scaringe </a>



Why It Matters: Ives&#8217; remarks come at a critical time for Tesla, as the company prepares for a significant first-quarter earnings call on Tuesday after market close.



Tesla&#8217;s stock has <a href="https://www.benzinga.com/content/44863730/tesla-stock-eyes-breakout-with-earnings-on-deck">shown resilience</a>, closing around $241 on Thursday, and analysts are closely watching for potential breakout signals. Even so, Tesla shares have fallen over 36% since the year began.



The company&#8217;s recent delivery numbers were disappointing, leading to concerns about its future performance. Ives, a prominent analyst, has reiterated an Outperform rating on Tesla, <a href="https://www.benzinga.com/markets/25/03/44346423/teslas-biggest-bull-frustrated-with-elon-musks-focus-on-doge-over-company-patience-wearing-thin">emphasizing the need</a> for Musk to address the brand crisis. Wedbush has a $550 price target for Tesla.



Benzinga Edge Stock Rankings indicate Tesla has a Momentum of 92.5 and Growth of 67.70. How does it compare with others in the EV landscape? <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here</a> and discover for yourself.



<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="792" height="108" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/20210256/Screenshot-2025-04-21-at-10.02.39.png" alt="" class="wp-image-878711" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/20210256/Screenshot-2025-04-21-at-10.02.39.png 792w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/20210256/Screenshot-2025-04-21-at-10.02.39-300x41.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/20210256/Screenshot-2025-04-21-at-10.02.39-768x105.png 768w" sizes="(max-width: 792px) 100vw, 792px" /></a></figure>



Check out more of Benzinga's Future Of Mobility coverage by <a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>



Photo via Shutterstock.com



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<li><a href="https://www.benzinga.com/25/04/44891314/dhl-says-its-suspending-global-shipments-to-us-valued-more-than-800-as-customs-updates-cause-multi-day-transit-delays">DHL Says It&#8217;s Suspending Global Shipments To US Valued More Than $800 As Customs Updates Cause Multi-Day Transit Delays</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>

Elon Musk 'Needs To Leave' The Government And Get Back To Being CEO Of Tesla, Says Dan Ives Ahead Of Q1 Earnings

Editor&#8217;s note: The headline has been revised for grammatical accuracy.



DHL&nbsp;has temporarily halted&nbsp;business-to-consumer shipments to the&nbsp;United States&nbsp;with a customs value exceeding&nbsp;$800. This suspension, effective Monday, April 21, 2025, is a response to recent changes in U.S. Customs regulations.



What Happened: DHL&#8217;s decision comes in the wake of updated U.S. Customs regulations that have caused considerable transit delays for shipments valued over $800, said the global logistics company in an update on its website. 



These changes affect shipments originating from any location and apply solely to B2C&nbsp;shipments to private individuals in&nbsp;the U.S.&nbsp;Business-to-business shipments to U.S.&nbsp;companies&nbsp;are not affected by the&nbsp;suspension, although they may also face&nbsp;delays.



As of April 5, 2025, all&nbsp;shipments to the U.S. with&nbsp;a declared customs value exceeding&nbsp;$800 now require formal entry processing, a reduction from the previous $2,500 threshold. This adjustment has led to&nbsp;a surge in formal customs&nbsp;clearances, which DHL is actively managing. Despite efforts to scale operations, shipments over $800 may still experience multi-day delays.



DHL said it is working diligently to address these challenges and will provide&nbsp;updates as the situation evolves.&nbsp;The temporary suspension is a measure to manage the increased demand for formal customs processing.



See Also:&nbsp;<a href="https://benzinga.com/news/25/04/44890654/ex-cellmate-says-epstein-was-offered-plea-deal-for-information-on-trump-give-them-something-on-trump-to-get-him-impeached" target="_blank" rel="noreferrer noopener">Ex-Cellmate Says Epstein Was Offered Plea Deal for Information on Trump: ‘Give Them Something on Trump To Get Him Impeached&#8217; </a>



Why It Matters: Recently, the&nbsp;<a href="https://www.benzinga.com/news/global/25/04/44830828/us-is-unreasonable-bullying-and-imposing-tariffs-abusively-says-hong-kong-post-operator">Hong Kong Post</a>&nbsp;announced a suspension of sea mail services to the U.S., citing &#8220;bullying&#8221; tariffs imposed by the United States.



The&nbsp;<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</a>&nbsp;recently increased tariffs on Chinese imports by up to 245%, intensifying the trade battle between the two nations. This has led to concerns about potential economic repercussions.



Furthermore,&nbsp;<a href="https://www.benzinga.com/news/management/25/04/44871428/blackstone-president-warns-of-recession-risk-tied-to-trumps-tariffs">Jonathan Gray</a>, president of Blackstone Inc., warned that the ongoing uncertainty surrounding Trump&#8217;s tariff policies could heighten the risk of a recession. The longer these global tariff uncertainties persist, the greater the potential for market disruption and unintended consequences throughout the financial system.



Photo Courtesy: Robin Guess On Shutterstock.com



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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>

DHL Says It's Suspending Global Shipments To US Valued More Than $800 As Customs Updates Cause Multi-Day Transit Delays (CORRECTED)

Mark Cuban isn't interested in patching up the healthcare system with duct tape and buzzwords. He wants to rip it open, throw it under a spotlight, and ask what a lot of Americans are already thinking: Why is this entire industry allowed to operate in complete darkness?



In a February <a href="https://hospitalogy.com/articles/2025-04-04/i-just-wanna-fck-up-healthcare/">fireside chat</a> with Hospitalogy founder Blake Madden—later revisited in April—the billionaire behind Cost Plus Drugs didn't hold back. He took aim at insurance companies, hospitals, consultants, and just about anyone profiting off the confusion. And yes, he said it: "I don't think there's a reason that health insurance should exist."



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Cuban's not looking to <a href="https://www.benzinga.com/25/02/43932776/mark-cuban-slams-fd-up-healthcare-system-blames-insurance-designed-deductibles-for-patient-bankruptcy">compete with insurers</a>. He just wants to make them irrelevant. "We're going to try to make it so that self-insured employers have no reason to work with insurance companies," he said. In his view, insurers approve plans that restrict access and bury costs behind layers of red tape. Worse, they don't even ask the most basic questions.



"Why is the health of our entire country based on providers who don't know their own f&#x2A;cking costs?" he asked.



Hospitals don't get a pass either. Cuban blasted their refusal to publish general ledgers or disclose what procedures and services actually cost. He called out the culture of secrecy, noting that executives are afraid of what transparency might reveal. "People don't want to do that because they're scared of what it would do for their business."



Trending: Maker of a life-changing asthma device with 12,000+ patients waiting, FDA clearance, and a 67% drop in attacks — now <a href="https://www.benzinga.com/money/how-a-10k-bet-on-health-care-originals-could-have-skyrocketed-your-portfolio">taking final investors at just $1.52 per share.</a>



To Cuban, that's more than just bad management—it's a moral failure. "This isn't the Dallas Mavericks," he said. "This is the health and welfare of our entire country."



And while he proudly calls himself a capitalist, he draws a line when it comes to healthcare. "You don't have to just grab every nickel that you can get when there's this at stake."



If the <a href="https://www.benzinga.com/25/03/44530674/mark-cuban-vows-to-revamp-us-healthcare-by-empowering-independent-pharmacies-wants-no-pharmacy-deserts">industry refuses to act on its own</a>, Cuban believes it's time for regulators to step in. Not to micromanage. Not to take over. Just to require the basics.



"You've got to open the books," he said.



He's pushing for laws that would force hospitals and insurers to disclose actual costs, margins, and spending—something he says should be standard practice in any business that <a href="https://www.benzinga.com/startups/25/02/43662970/mark-cuban-says-u-s-healthcare-is-horrific-calls-for-free-medical-school-to-fix-doctor-shortages-and-soaring-costs">deals with life-and-death decisions</a>. If transparency threatens the business model, Cuban's argument is simple: maybe that business shouldn't exist in the first place.



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Mark Cuban Says Health Insurance Shouldn't Exist — 'You Don't Have to Grab Every Nickel When It's the Health of the Entire Country at Stake'

President&nbsp;Donald Trump&nbsp;has excluded a range of technology products, including certain consumer electronics made in China, from the reciprocal tariffs. The list of exemptions, released by U.S. Customs and Border Protection, effectively <a target="_blank" href="https://www.benzinga.com/25/04/44784092/apple-smci-nvidia-and-amd-stocks-climb-in-monday-pre-market-whats-going-on" rel="noreferrer noopener">reduces the scope of the imposed levies</a>.



The exclusions apply to smartphones, laptops, hard drives, and computer processors and memory chips, shielding them from Trump&#8217;s proposed 125% tariff on Chinese goods and the baseline 10% global tariff on most other countries.



Pedestrians in at least three California cities were met with bizarre AI-generated voice clips mimicking Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and SpaceX CEO Elon Musk and Meta Platforms Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) Mark Zuckerberg after crosswalk buttons were <a href="https://www.benzinga.com/25/04/44784312/hacked-crosswalk-buttons-in-california-cities-play-ai-generated-elon-musk-zuckerberg-voice-clips-mocking-democracy-and-begging-for-friends" target="_blank" rel="noreferrer noopener">reportedly hacked over the weekend.</a>



Automotive



Rivian Automotive Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) founder and CEO RJ Scaringe has said the company boasts a "U.S.-centric" supply chain amid&nbsp;Donald Trump&#8216;s 25% <a target="_blank" href="https://www.benzinga.com/tech/25/04/44836493/rivians-us-centric-supply-chain-could-offer-edge-amid-trumps-auto-tariffs-says-ceo-rj-scaringe" rel="noreferrer noopener">tariffs on the auto industry</a>.



Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has released a cheaper, long-range version of the Model Y facelift. The new version replaces the limited-run launch edition, which is no longer <a target="_blank" href="https://www.benzinga.com/25/04/44809616/heres-how-the-new-2025-tesla-model-y-long-range-differs-from-the-limited-run-launch-edition" rel="noreferrer noopener">available for sale by the company</a>.



A&nbsp;Tesla Model Y was spotted testing in India&#8217;s Mumbai, adding to the anticipation of <a target="_blank" href="https://www.benzinga.com/tech/25/04/44833951/elon-musk-led-teslas-model-y-spotted-testing-in-mumbai-ahead-of-india-debut" rel="noreferrer noopener">the company&#8217;s debut in India</a>.



Social Media/Entertainment



Netflix Inc.&nbsp;has begun testing an artificial intelligence–powered search engine that enables subscribers to find movies and TV shows based on their emotions, <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">preferences, or specific situations</a>.



TikTok‘s U.S. public policy chief,&nbsp;Michael Beckerman, is leaving his Washington-based role to transition <a href="https://www.benzinga.com/general/social-media/25/04/44856624/tiktoks-us-policy-chief-steps-down-as-bidding-war-heats-up-after-trump-extends-deadline-report">to a global advisory position</a>.



Technology



Nvidia Corp.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) and&nbsp;Alphabet Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) have reportedly decided to invest in the artificial intelligence startup co-founded by former&nbsp;<a target="_blank" href="https://www.benzinga.com/25/04/44778730/nvidia-and-alphabet-to-back-openai-co-founder-ilya-sutskevers-new-ai-startup-safe-superintelligence-report" rel="noreferrer noopener">OpenAI&nbsp;</a><a target="_blank" href="https://www.benzinga.com/25/04/44778730/nvidia-and-alphabet-to-back-openai-co-founder-ilya-sutskevers-new-ai-startup-safe-superintelligence-report" rel="noreferrer noopener">chief scientist&nbsp;</a><a target="_blank" href="https://www.benzinga.com/25/04/44778730/nvidia-and-alphabet-to-back-openai-co-founder-ilya-sutskevers-new-ai-startup-safe-superintelligence-report" rel="noreferrer noopener">Ilya Sutskever</a>.



Alphabet Inc.&#8217;s&nbsp;Google&nbsp;rolled out its&nbsp;Veo 2&nbsp;model <a target="_blank" href="https://www.benzinga.com/tech/25/04/44832438/googles-veo-2-will-allow-you-to-create-high-resolution-videos-with-text-in-gemini-app-sundar-pichai-shows-off-cyberpunk-style-anime" rel="noreferrer noopener">to&nbsp;</a><a target="_blank" href="https://www.benzinga.com/tech/25/04/44832438/googles-veo-2-will-allow-you-to-create-high-resolution-videos-with-text-in-gemini-app-sundar-pichai-shows-off-cyberpunk-style-anime" rel="noreferrer noopener">Gemini Advanced</a><a target="_blank" href="https://www.benzinga.com/tech/25/04/44832438/googles-veo-2-will-allow-you-to-create-high-resolution-videos-with-text-in-gemini-app-sundar-pichai-shows-off-cyberpunk-style-anime" rel="noreferrer noopener">&nbsp;users</a>.



Alphabet Inc.&#8217;s&nbsp;Google&#8217;s DeepMind&nbsp;is diving into marine science with a new AI model designed to help <a target="_blank" href="https://www.benzinga.com/25/04/44833198/can-ai-talk-to-dolphins-googles-deepmind-creates-dolphingemma-to-explore-animal-language" rel="noreferrer noopener">researchers decode dolphin communication</a>.



Meta Platforms announced Friday it will appoint&nbsp;Dina Powell&nbsp;McCormick&nbsp;and&nbsp;Stripe&nbsp;CEO&nbsp;Patrick Collison&nbsp;to its board of directors, effective April 15. The move increased the <a target="_blank" href="https://www.benzinga.com/25/04/44782094/meta-board-shake-up-trump-era-veteran-dina-powell-and-stripe-ceo-join-as-zuckerberg-reshapes-companys-political-and-strategic-direction" rel="noreferrer noopener">board&#8217;s size to 15 members</a>.



Microsoft Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) announced a research preview of &#8220;Computer Use,&#8221; a new tool within&nbsp;Copilot Studio&nbsp;that enables AI agents to perform tasks on desktop and web <a href="https://www.benzinga.com/25/04/44831264/microsoft-debuts-computer-use-tool-for-copilot-studio-ceo-satya-nadella-says-anyone-can-build-agents-that-take-action-on-the-ui-across-desktop-and-web-apps" target="_blank" rel="noreferrer noopener">applications by interacting directly</a>.



Bill Gates&nbsp;says artificial intelligence will soon wipe out chronic shortages of skilled workers like doctors and teachers, eventually forcing societies to rethink the value of <a href="https://www.benzinga.com/tech/25/04/44857520/bill-gates-says-his-kids-and-grandkids-will-live-in-a-very-changed-world-as-ai-puts-an-end-to-shortage-of-teachers-and-doctors">time and the concept of ‘work hours</a>'.



Smartphones



Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) investors breathed a much-needed sigh of relief on Friday when the Trump administration announced a decision to exempt iPhones, iPads, and Macs from the latest wave of reciprocal tariffs. This might have saved the<a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44788262/apples-margins-catch-a-break-but-road-ahead-still-looks-bumpy" target="_blank" rel="noreferrer noopener"> company from a near-term cost storm</a>.



Image: Shutterstock/Gorodenkoff

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