Algoma Steel Group (NASDAQ:ASTL) Stock, Quote.Headers.trade-ideas

Algoma Steel Group

Algoma Steel Gr

Algoma Steel Group Inc is a Canadian company engaged in the production of clean and consistent light gauge steel. The company offers a range of hot and cold rolled steel sheet and plate products. The firm operates in a single segment of basic steel production including sheets, plates, slabs, and freights. The company's revenue is generated from contracts to produce, ship, and deliver steel products Geographically it serves Canada, the United States, and the rest of the world, whilst driving key revenue from domestic sales. The company generates the majority of its revenue from the sale of Steel sheets and strips.

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U.S. stock futures were higher this morning, with the Nasdaq futures gaining around 100 points on Monday.

Shares of  Archer-Daniels-Midland Company (NYSE: ADM) fell sharply in today’s pre-market trading after the company named Ismael Roig as Interim Chief Financial Officer.

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Algoma Steel Group Inc

With U.S. stock futures trading higher this morning on Thursday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Darden Restaurants, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>) to report quarterly earnings at $1.83 per share on revenue of $2.8 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Darden shares fell 0.2% to $158.77 in after-hours trading.</li>
<li>Steelcase Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCS#NYSE">SCS</a>) reported better-than-expected earnings for its second quarter, while <a href="https://www.benzinga.com/news/earnings/24/09/40929014/steelcase-stock-falls-after-q2-revenue-miss-details">sales missed estimates</a>. The company said it sees third-quarter revenue in a range of $785 million to $810 million and adjusted earnings of between 21 cents and 25 cents per share. Steelcase shares dipped 11.5% to $12.49 in the after-hours trading session.</li>
<li>Analysts are expecting FactSet Research Systems Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDS#NYSE">FDS</a>) to post quarterly earnings at $3.62 per share on revenue of $546.81 million for the recent quarter. The company will release earnings before the markets open. FactSet Research shares gained 0.4% to $448.44 in the after-hours trading session.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Exicure Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XCUR#NASDAQ">XCUR</a>) announced that it received an extension from the Nasdaq Hearings Panel. Exicure shares jumped 168.1% to $6.14 in the after-hours trading session.</li>
<li>Analysts expect FedEx Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) to post quarterly earnings at $4.80 per share on revenue of $21.96 billion after the closing bell. FedEx shares gained 0.5% to $299.79 in after-hours trading.</li>
</ul>
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Photo via Wikimedia Commons

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NVIDIA Corp&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) key supplier for high-bandwidth memory chips SK Hynix (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HXSCF#OTC">HXSCF</a>) declined over 6% on the South Korean exchange after Morgan Stanley&nbsp;downgraded the Korean memory chipmaker to underweight from overweight. 
What Happened: Morgan Stanley in a brokerage note slashed SK Hynix&#8217;s target price to 120,000 won from 260,000 won, citing the least preference for the stock among global memory makers, <a href="https://www.bloomberg.com/news/articles/2024-09-19/sk-hynix-shares-tumble-on-double-downgrade-at-morgan-stanley">reported</a> Bloomberg on Thursday.
"We prefer moving up to quality in Samsung and value-oriented end markets," wrote analysts Shawn Kim and Duan Liu. "Memory conditions are beginning to deteriorate. It will get tougher for revenue growth and margins from here as we move past late-cycle conditions."
The stock hit its lowest level since Feb. 19 after falling as much as 10%. Meanwhile, Samsung Electronics Co (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) saw a 3.1% decline among other semiconductor shares traded in Seoul.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40878978/donald-trump-to-visit-springfield-ohio-soon-not-so-fast-polymarket-traders-say?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Donald Trump To Visit Springfield, Ohio ‘Soon'? Not So Fast, Polymarket Traders Say</a>
Why It Matters:&nbsp;In July, Goldman Sachs Group Inc. increased SK Hynix&#8217;s stock-price target to 290,000 won ($210), indicating a potential gain of 25%. Meanwhile, Citigroup Inc. raised its prediction to 350,000 won during the same period. 
SK Hynix's parent company,&nbsp;SK Group, pledged to<a href="https://www.benzinga.com/news/24/07/39575498/nvidia-suppliers-parent-company-pledges-56b-investment-in-ai-chip-tech-by-2026-as-competition-from-s" target="_blank" rel="noreferrer noopener">&nbsp;invest 80 trillion won</a>&nbsp;($56 billion) by 2026 in artificial intelligence and semiconductors, primarily in high-bandwidth memory chips, data centers, and personalized AI assistant services. This move is expected to strengthen its supply chains for emerging technology and bolster its position as a leading supplier to Nvidia.
The ongoing AI boom has put two South Korean chipmakers,&nbsp;Samsung&nbsp;and&nbsp;SK Hynix, in the spotlight. Industry experts are now discussing which company is the better investment in <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38634543/ai-boom-puts-nvidia-suppliers-sk-hynix-samsung-in-spotlight-experts-discuss-best-so">this AI-driven market</a>.
Price Action: SK Hynix&nbsp;is currently trading at 151,800 won, with a decline of 6.76% on Thursday. The stock has gained 6.60% year-to-date, according to <a href="https://www.benzinga.com/pro/login">data from Benzinga Pro</a>.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40913998/jamie-dimon-says-jpmorgan-is-likely-one-of-the-bigger-users-of-blockchain-technology-but-c?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jamie Dimon Says JPMorgan Is Likely ‘One Of The Bigger Users' Of Blockchain Technology, But Calls Cryptocurrencies A ‘Pet Rock'</a></li>
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Image via SK Hynix
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Tesla and SpaceX CEO Elon Musk&#8217;s social media platform, X, formerly Twitter, had managed to temporarily bypass a <a href="https://www.benzinga.com/news/24/08/40664929/brazil-judge-bans-x-after-months-long-feud-threatens-fines-of-nearly-9k-per-day-on-users-who-try-to">ban in Brazil</a> with the help of an automatic update of its software.
What Happened: On Wednesday, the Brazilian Association of Internet and Telecommunications Providers, or ABRINT, said that X has modified its structure to use IP addresses associated with Cloudflare.
This alteration has made it difficult to block X in Brazil.
According to ABRINT, the new IP addresses used by X are shared with other legitimate services, including banks and large internet platforms "making it impossible to block an IP without affecting other services."
See Also: <a href="https://www.benzinga.com/news/24/09/40897716/elon-musk-reacts-after-mark-cuban-says-he-would-buy-x-in-a-heartbeat">Elon Musk Reacts After Mark Cuban Says He Would Buy X &#8216;In A Heartbeat&#8217;</a>
In a <a href="https://www.bloomberg.com/news/articles/2024-09-18/elon-musk-s-x-bypasses-brazil-ban-through-a-software-update">statement</a> to Bloomberg, the social media platform said that the restored access was "inadvertent and temporary," in Brazil. This happened after the company switched network providers following the ban.
"While we expect the platform to be inaccessible again in Brazil soon, we continue efforts to work with the Brazilian government to return very soon for the people of Brazil," the X spokesperson said.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: The ban on X was ordered by Brazilian Supreme Court Justice Alexandre de Moraes after the tech mogul refused to <a href="https://www.benzinga.com/news/24/08/40623911/brazilian-supreme-court-tells-elon-musk-to-appoint-legal-representative-for-x-in-24-hours-or-face-su">appoint a legal representative</a> in the country.
According to local media in Brazil, following the restored access, the court has asked Brazil&#8217;s telecoms regulator, Anatel, to explain the unauthorized access of X, the report noted
Previously, it was reported that the ban on X could impact <a href="https://www.benzinga.com/news/24/09/40709109/elon-musks-brazil-standoff-for-x-could-impact-tesla-spacex-and-other-ventures-warns-expert">Musk's other ventures</a> including SpaceX and Tesla.
Last week, it was reported that the Brazilian Supreme Court has lifted the freeze on Starlink and X&#8217;s finances after the <a href="https://www.benzinga.com/24/09/40864550/brazils-supreme-court-lifts-freeze-on-starlink-and-xs-finances-after-elon-musks-companies-cough-up-3">tech mogul paid $3.3 million in fines</a>.
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
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Elon Musk's X Manages To Dodge Brazil Ban With Software Update, Court Wants An Explanation

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Elon Musk&#8216;s <a href="https://www.benzinga.com/news/24/09/40916098/elon-musks-spacex-launches-90th-mission-in-2024-with-over-a-third-of-launch-target-still-to-go">rocket manufacturing company</a> SpaceX on Wednesday tested the engines of its Starship launch vehicle for its sixth flight test, even while its fifth flight&#8217;s timeline remains uncertain.
What Happened: The company took to social media platform X to share pictures and videos from the static fire test. During a static fire test, the two-stage rocket&#8217;s first-stage engines are ignited but it does not leave the launchpad.
&#8220;Six engine static fire of Flight 6 Starship,&#8221; the company wrote.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Six engine static fire of Flight 6 Starship <a href="https://t.co/fzJz9BWBn6">pic.twitter.com/fzJz9BWBn6</a>
&mdash; SpaceX (@SpaceX) <a href="https://twitter.com/SpaceX/status/1836606716282311166?ref_src=twsrc%5Etfw">September 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Earlier this month, SpaceX said that Starship has been&nbsp;<a href="https://www.benzinga.com/news/24/08/40305893/starship-fifth-flight-delayed-spacex-ceo-elon-musk-gives-fresh-august-end-timeline" target="_blank" rel="noreferrer noopener">ready for its fifth flight test</a>&nbsp;since the first week of August but has been put off owing to "frivolous" and "patently absurd" licensing issues.
"Unfortunately, we continue to be stuck in a reality where it takes longer to do the government paperwork to license a rocket launch than it does to design and build the actual hardware," SpaceX said.
The company said that it recently received a launch license date estimate of late November for the fifth flight from the Federal Aviation Administration (FAA), marking a two-month delay from the previously communicated date of mid-September.
The delay, SpaceX said, was not based on a new safety concern but on "superfluous" environmental analysis including concerns about the Starbase facility having a negative impact on local flora and fauna. However, the company disputed these claims.
&#8220;Flight 5 is built and ready to fly. Flight 6 will be ready to fly before Flight 5 even gets approved by FAA!&#8221; SpaceX CEO Elon Musk said on Thursday.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Flight 5 is built and ready to fly. Flight 6 will be ready to fly before Flight 5 even gets approved by FAA! <a href="https://t.co/wh7z0zjqR6">https://t.co/wh7z0zjqR6</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1836639170300666277?ref_src=twsrc%5Etfw">September 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Past Flight Tests:&nbsp;SpaceX has conducted four flight tests with the Starship thus far.
SpaceX&nbsp;<a href="https://www.benzinga.com/news/24/06/39226248/elon-musk-outlines-future-starship-goals-after-successful-fourth-flight-test" target="_blank" rel="noreferrer noopener">last launched Starship</a>&nbsp;in the first half of June. During the test, the two stages of the vehicle – the Starship spacecraft and the Super Heavy booster – separated, and the booster subsequently had a soft splashdown in the Gulf of Mexico. The spacecraft ignited its engines and went into space, made a controlled re-entry to Earth, and had a soft splashdown in the Indian Ocean.
The entire flight lasted one hour and six minutes from launch. The key object of the flight was to re-enter Earth and the mission achieved it while withstanding damage to the vehicle.
The flights before accomplished less. While the spacecraft failed to reach space in the first flight, it reached space and exploded in the second test flight. During the third flight test, the spacecraft broke apart when re-entering Earth's atmosphere from space.
Upcoming Flight:&nbsp;The two-stage Starship is touted as the world&#8217;s most powerful launch vehicle, standing 121 meters tall and weighing approximately 5,000 tonnes. For the upcoming flight, SpaceX's goal is to&nbsp;catch Starship's&nbsp;<a href="https://www.benzinga.com/news/24/06/39543299/spacex-preparing-to-catch-starship-booster-at-starbase-during-next-test-flight-instead-of-splashing" target="_blank" rel="noreferrer noopener">booster stage back at Starbase</a>&nbsp;using the launch tower&#8217;s mechanical arms, marking a significant demonstration of Starship's reusability.
The company is relying on frequent test flights to test and enhance the capability of the vehicle. Musk said in March that Starship is expected to have at least six test flights this year. However, only two test flights have been completed to date in 2024.
Starship is key to NASA's dreams of taking humans back to the surface of the Moon.
NASA's Artemis 3 mission slated to launch no earlier than September 2026 is expected to enable humans to land back on the surface of the moon with the help of a lunar lander variant of the Starship spacecraft. The last time humans set foot on the Moon was in 1972&nbsp;<a href="https://www.benzinga.com/news/24/01/36692749/just-a-worse-version-of-apollo-elon-musk-baffled-by-nasa-veterans-push-to-ditch-spacex-blue-origin-a" target="_blank" rel="noreferrer noopener">with Apollo 17</a>. Since then, no crew has traveled beyond low-Earth orbit.
Musk, meanwhile, is eyeing<a href="https://www.benzinga.com/news/24/09/40770222/elon-musk-sets-2026-for-starships-first-uncrewed-mars-mission-targeting-successful-landing" target="_blank" rel="noreferrer noopener">&nbsp;taking humans to Earth's neighboring planet Mars</a>&nbsp;aboard the Starship. The first Starship launch to Mars, Musk said earlier this month, is expected in 2026 and will not have a crew on board.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
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Photo courtesy: SpaceX

SPACE

SpaceX Continues To Prepare For Future Starship Flights Despite Delays In FAA Launch Clearance: Elon Musk Says 'Flight 6 Will Be Ready To Fly Before Flight 5 Even Gets Approved'

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The provisional result amount to a net gain of CHF 9.8 million for the six-month period ended June 30, 2024 compared to a net loss of CHF 5.1 million for the six-month period ended June 30, 2023. The increase of CHF 14.9 million is primarily due to the gross proceeds of CHF 5.0 million received in cash from the sale of a part of Addex&#39;s business and the fair value of the&nbsp;20%&nbsp;equity interest in Neurosterix US holdings LLC received as part of the consideration and recorded at fair value of CHF 9.4 million on April 2, 2024. The cash position of the Group amounted to CHF 3.8 million as of June 30, 2024.

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Ahead of the 2024 presidential election, former President Donald Trump made headlines with a notable campaign stop in New York City.
What Happened: Former President Trump made a campaign stop at PubKey, a crypto-themed bar in New York, on Wednesday. Trump paid for smash burgers and Diet Cokes using Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), <a href="https://www.wsj.com/politics/elections/that-time-donald-trump-walked-into-a-bar-and-bought-a-round-using-bitcoin-92cf6dd0?mod=latest_headlines">reported</a> The Wall Street Journal.
Trump&#8217;s visit to PubKey, a popular spot among cryptocurrency enthusiasts, aimed to bolster his support from the crypto community. He declared the transaction as &#8220;history in the making&#8221; after using his iPhone to make the payment.
Mike Germano, president of Bitcoin Magazine, praised Trump, saying, &#8220;He's now one of us.&#8221; PubKey co-founder Andrew Newman called it a significant step in bitcoin history, emphasizing the movement behind the currency.
Trump, who once criticized bitcoin, has since embraced the industry. He has appeared at crypto conferences and received millions in campaign contributions made in cryptocurrencies. He promised a more favorable regulatory climate if re-elected.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40878978/donald-trump-to-visit-springfield-ohio-soon-not-so-fast-polymarket-traders-say?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Donald Trump To Visit Springfield, Ohio &#8216;Soon&#8217;? Not So Fast, Polymarket Traders Say</a>
During the event, Trump reiterated his commitment to making the U.S. the &#8220;world capital for crypto and bitcoin.&#8221; He also pledged to halt work on central bank digital currencies and proposed creating a strategic national bitcoin stockpile and a bitcoin advisory council, according to the report.
PubKey also shared an image with Trump on X, captioning it: &#8220;One of the most historic transactions in #bitcoin history was just made.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">One of the most historic transactions in <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#bitcoin</a> history was just made. President <a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a> buying burgers at <a href="https://twitter.com/PubKey_NYC?ref_src=twsrc%5Etfw">@PubKey_NYC</a> with <a href="https://twitter.com/tpacchia?ref_src=twsrc%5Etfw">@tpacchia</a>. Block height: 861871 You saw it here first. <a href="https://t.co/moHUIKDxej">pic.twitter.com/moHUIKDxej</a>
&mdash; PUBKEY (@PubKey_NYC) <a href="https://twitter.com/PubKey_NYC/status/1836510708634390680?ref_src=twsrc%5Etfw">September 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Why It Matters: Trump&#8217;s evolving stance on <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40905315/donald-trumps-new-crypto-project-world-liberty-financial-everything-you-need-to-know">cryptocurrency has been a significant shift</a>, especially given his previous criticisms. This transformation began to take shape earlier this year when he launched World Liberty Financial (WLFI), a decentralized finance platform centered around a crypto token. This move marked his formal embrace of blockchain technology.
Moreover, Trump has credited his <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40901067/i-was-blown-away-donald-trump-credits-sons-for-introducing-him-to-crypto-marvels-at-nft-co">sons for introducing him to the world of crypto</a>, particularly noting the success of his NFT collection. He expressed his surprise at how quickly the collection sold out, which further fueled his interest in the digital asset space.
In the political arena, Trump&#8217;s pro-crypto <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40919168/ethereum-co-founder-says-donald-trump-is-certainly-the-favorite-over-kamala-harris-for-cry">stance has garnered attention</a>. Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) co-founder Charles Hoskinson recently stated that Trump is &#8220;certainly the favorite&#8221; over Vice President Kamala Harris from a cryptocurrency perspective.
Additionally, Anthony Scaramucci, former White House Communications Director, has called for <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40916521/anthony-scaramucci-calls-for-bipartisan-crypto-regulation-applauds-donald-trump-for-coming">bipartisan crypto regulation</a>, applauding Trump for his newfound support of the industry. Scaramucci believes this shift could encourage Democrats to adopt a more favorable stance on cryptocurrency regulation.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40913998/jamie-dimon-says-jpmorgan-is-likely-one-of-the-bigger-users-of-blockchain-technology-but-c?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jamie Dimon Says JPMorgan Is Likely &#8216;One Of The Bigger Users&#8217; Of Blockchain Technology, But Calls Cryptocurrencies A &#8216;Pet Rock&#8217;</a></li>
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Image Via Shutterstock 
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/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

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Trump Pays Up For Smash Burgers And Diet Cokes With Bitcoin During New York Campaign Halt — Move Hailed As 'One Of The Most Historic Transactions'

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Reported Earlier, Australia Unemployment Rate For August Unchanged At 4.2%

Reported Earlier, Australia Full Employment Change For August -3.1K Vs. 64.7K (Revised) Prior

Reported Earlier, Australia Employment Change For August 47.5K Vs. 26.4K Est.; 48.9K (Revised) Prior

Speaker Mike Johnson (R-La.) claimed on X that Federal Reserve Chairman Jerome Powell admitted President Joe Biden and Vice President Kamala Harris&#8216; administration&#8217;s immigration policies are contributing to higher unemployment rates. Powell&#8217;s comments were made during a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40929003/powells-hawkish-tone-tempers-market-excitement-after-historic-50-basis-point-intere">postmeeting press conference</a>.
What Happened: Johnson shared a video clip where Powell was questioned about the recent job creation rates and the impact of immigration on the labor market. 
Powell responded by indicating that the influx of immigrants has contributed to the rise in unemployment, alongside a slower hiring rate.
Powell said, &#8220;If you're having millions of people come into the labor force, then—and you're creating 100,000 jobs, you're going to see unemployment go up.&#8221; He noted that the increase in unemployment is partly due to the high number of people entering the country and the slower rate of job creation.
Sharing Powell&#8217;s remarks, Johnson wrote, &#8220;The Federal Reserve Chairman admitted the massive influx of illegal immigrants under Biden and Harris has raised the unemployment rate. This administration's refusal to secure the border is actively harming American workers and our economy.&#8221; 
Additionally, Elon Musk CEO of Tesla Inc. has reshared Johnson&#8217;s post, amplifying the discussion. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The Federal Reserve Chairman admitted the massive influx of illegal immigrants under Biden and Harris has raised the unemployment rate. This administration's refusal to secure the border is actively harming American workers and our economy. <a href="https://t.co/3rryXkKTAs">pic.twitter.com/3rryXkKTAs</a>
&mdash; Speaker Mike Johnson (@SpeakerJohnson) <a href="https://twitter.com/SpeakerJohnson/status/1836516101162991659?ref_src=twsrc%5Etfw">September 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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See Also: <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40908202/10-etfs-investors-secretly-bought-before-the-feds-make-or-break-interest-rate-cal?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">10 ETFs Investors Secretly Bought Before The Fed&#8217;s Make-Or-Break Interest Rate Call</a>
Why It Matters: The context surrounding Powell&#8217;s comments is crucial to understanding the broader economic landscape. Just a day before Johnson&#8217;s post, Powell had defended a <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40927293/powell-defends-0-5-interest-rate-drop-as-right-thing-for-the-economy-doubles-down">significant 50-basis-point interest rate cut</a>, emphasizing it was necessary to support the labor market and prevent economic downturns. 
This rate cut, which brought interest rates down to a range of 4.75% to 5%, was the first in over four years. Powell stressed the importance of preemptive measures to maintain a <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40927293/powell-defends-0-5-interest-rate-drop-as-right-thing-for-the-economy-doubles-down">strong labor market</a>.
Moreover, the Federal Reserve&#8217;s dot plot indicated that policymakers <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40929003/powells-hawkish-tone-tempers-market-excitement-after-historic-50-basis-point-intere">anticipate further rate cuts</a>, signaling a cautious approach to economic stability.
Johnson&#8217;s remarks also come at a time when House Republicans, including Johnson himself, are grappling with internal disagreements over a funding bill aimed at <a href="https://www.benzinga.com/news/24/09/40931809/house-republicans-reject-their-own-funding-bill-as-government-shutdown-looms-mike-johnson-says-we-ha">preventing a government shutdown</a>. 
Musk&#8217;s involvement in the discussion is notable, given his advocacy for simplifying the <a href="https://www.benzinga.com/news/24/04/38488525/elon-musk-advocates-for-easier-and-simplified-legal-immigration-process-amid-migrant-influx">legal immigration process</a>. Musk has previously called for easier and quicker legal immigration, highlighting the challenges faced by skilled labor in navigating the current system.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/09/40872989/mark-cuban-asks-elon-musk-he-can-directly-question-him-about-kamala-harris-economic-policies-but-wan?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Asks Elon Musk He Can Directly Question Him About Kamala Harris&#8217; Economic Policies, But Wants This In Exchange</a></li>
</ul>
Image via Federal Reserve
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/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Global

Federal Reserve

Mike Johnson Says Fed Chair Jerome Powell Admitted  Biden-Harris Immigration Policies Have Raised Unemployment And Are 'Harming American Workers' — Elon Musk Amplifies Discussion

Microsoft Corporation&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTF#NASDAQ">MSTF</a>) LinkedIn, the professional networking giant, has come under scrutiny for reportedly using user data for AI training before&nbsp;updating its terms of service.
What Happened: This primarily affected users in the U.S., as those in the EU, European Economic Area, or Switzerland were likely exempt due to stringent data privacy rules in these regions, <a href="https://techcrunch.com/2024/09/18/linkedin-scraped-user-data-for-training-before-updating-its-terms-of-service/">reported</a> TechCrunch, <a href="https://www.404media.co/linkedin-is-training-ai-on-user-data-before-updating-its-terms-of-service/">citing</a> 404 media as the first to spot this discrepancy.
Users have an opt-out toggle in their settings that reveals LinkedIn collects personal data to train &#8220;content creation AI models.&#8221; While the toggle isn&#8217;t new, LinkedIn initially failed to update its privacy policy to reflect this data usage.
LinkedIn&#8217;s terms of service have since been updated, but typically, such updates precede significant changes&nbsp;like using user data for&nbsp;new purposes.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/40848374/google-co-founder-sergey-brin-admits-company-was-too-timid-to-rollout-chatgpt-like-llms-despite-basi?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Google Co-Founder Sergey Brin Admits Company Was &#8216;Too Timid&#8217; To Rollout ChatGPT-Like LLMs Despite Basically Inventing Them</a>
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/18234419/Screenshot-2024-09-19-at-9.14.07%E2%80%AFAM-1024x428.png" alt="" class="wp-image-555236" /></figure>
LinkedIn did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga&#8217;s</a> request for comments.
The company uses the data to train its own AI models, including those&nbsp;for writing suggestions and post&nbsp;recommendations. LinkedIn also indicated&nbsp;that generative AI models on&nbsp;its platform could be trained by &#8220;another provider,&#8221; such as its parent company,&nbsp;Microsoft.
How To Opt Out Of LinkedIn&#8217;s Data Scrapping
Step I: Go to the &#8220;Data Privacy&#8221; section in the settings menu.
Step II: Select &#8220;Data for Generative AI improvement.&#8221; 
Step III: Now toggle off the option for &#8220;Use my data for training content creation AI models.&#8221;
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="835" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/18235928/IMG_4340-1024x835.jpeg" alt="" class="wp-image-555262" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/18235928/IMG_4340-1024x835.jpeg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/18235928/IMG_4340-300x245.jpeg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/18235928/IMG_4340-768x626.jpeg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/18235928/IMG_4340.jpeg 1290w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Why It Matters: Earlier this year, AI startups&nbsp;OpenAI and Anthropic&nbsp;were accused of <a href="https://www.benzinga.com/news/24/06/39443965/openai-and-anthropic-allegedly-ignore-web-scraping-rules-stirring-controversy">ignoring web scraping rules</a>. The reported behavior of OpenAI and Anthropic reflected a larger trend among AI companies pursuing high-quality data for their models.
In April,&nbsp;OpenAI also received flak for <a href="https://www.benzinga.com/news/24/04/38152790/openai-transcribes-over-a-million-youtube-hours-navigating-the-gray-area-of-ai-data-use">reportedly transcribing over a million hours</a> of YouTube videos for training its GPT-4 model.
OpenAI, the company behind ChatGPT, has also gained attention with its <a href="https://www.benzinga.com/news/24/05/38975543/news-corp-stock-pops-on-multiyear-deal-with-openai">multiyear partnership</a> with News Corp, giving it access to the media giant&#8217;s news content. This deal marked a notable advancement in the AI industry&#8217;s pursuit of high-quality training data.
Later in July, Elon Musk&#8217;s social media platform, X, formerly Twitter, was found to be&nbsp;<a href="https://www.benzinga.com/news/24/07/39979855/elon-musks-x-shares-your-posts-on-his-social-media-platform-with-grok-for-training-heres-how-you-can">sharing user posts</a>&nbsp;with xAI&#8217;s Grok for training.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Photo by IB Photography on Shutterstock
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

MSFT

MSTF

Microsoft's LinkedIn in Hot Water For Allegedly Using Data Of Users For Training AI Before Updating Terms Of Service

Ahead of a looming government shutdown, a significant development occurred in the House of Representatives as Speaker Mike Johnson's (R-La.) <a href="https://www.benzinga.com/news/24/09/40913633/house-set-to-vote-on-gop-bill-to-prevent-government-shutdown-after-chuck-schumer-warns-republicans-n">funding bill was defeated</a>.
What Happened: A diverse group of House Republicans rejected Speaker Johnson's proposal to fund the government on Wednesday. The bill&#8217;s failure complicates efforts to avoid a government shutdown at the end of the month, <a href="https://thehill.com/homenews/house/4887533-mike-johnson-funding-bill-fails-house/">reported</a> The Hill.
&#8220;We have time to fix the situation, and we'll get right to it. I'm disappointed. I know this was the right thing to do, and I think the American people are gonna let a lot of the folks that voted no tonight hear their concerns about it,&#8221; Johnson said. 
Fourteen Republicans joined nearly every Democrat in voting against the bill, which combined a six-month stopgap measure with a requirement for proof of citizenship to vote. The final vote tally was 202-220, with two members voting present.
The opposition came from various GOP factions: hardline conservatives opposed the continuing resolution, defense hawks worried about Pentagon funding, and moderates were concerned about the shutdown threat close to the election.
Rep. Beth Van Duyne (R-Texas) criticized the bill, saying, "I look at the spending, and I think that's one of the largest issues that we have in our country, is $36 trillion in debt."
The bill's failure leaves Speaker Johnson in a difficult position, with the path to avoiding a shutdown now uncertain. Johnson indicated he is already discussing alternative plans with colleagues.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40874541/anthony-scaramucci-more-gop-officials-will-start-to-denounce-trump-senator-mitt-romney-may?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Anthony Scaramucci: &#8216;More GOP Officials Will Start To Denounce Trump&#8217; — Senator Mitt Romney May Be One Of Them, Polymarket Traders Think</a>
Senate Majority Leader Chuck Schumer (D-N.Y.) urged bipartisan cooperation to keep the government running, stating, "Bipartisan, bicameral cooperation. That's what works."
Former President Donald Trump has pressured Republicans to include the SAVE Act in any funding legislation, further complicating Johnson's efforts to navigate the situation.
Why It Matters: The defeat of Speaker Johnson&#8217;s funding bill is a critical moment in the ongoing struggle to prevent a government shutdown. This event follows a series of contentious negotiations and warnings from key political figures.
On Wednesday, the House was set to vote on Johnson&#8217;s proposal to keep the government funded, but the bill lacked <a href="https://www.benzinga.com/news/24/09/40913633/house-set-to-vote-on-gop-bill-to-prevent-government-shutdown-after-chuck-schumer-warns-republicans-n">sufficient Republican support</a> to pass. Senate Majority Leader Schumer had previously warned that if a shutdown occurred due to &#8220;Republican poison pills,&#8221; the <a href="https://www.benzinga.com/news/24/09/40890590/chuck-schumer-says-if-government-shutdown-happens-it-will-because-of-republican-poison-pills-the-ame">American public would hold the GOP responsible</a>.
Earlier in June, Speaker Johnson had suggested invoking the 25th Amendment to remove President Joe Biden from office, indicating his <a href="https://www.benzinga.com/news/24/06/39562810/mike-johnson-suggests-using-25th-amendment-to-remove-biden-after-debate-performance-this-is-a-very-d">aggressive stance on various issues</a>.
In March, the House had successfully passed a major spending bill to prevent a government shutdown, showcasing the complexities and challenges in <a href="https://www.benzinga.com/government/24/03/37529014/us-house-successfully-passes-major-spending-bill-to-prevent-government-shutdown">achieving bipartisan agreement</a>.
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Image Via Shutterstock 
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/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Politics

House Republicans Reject Their Own Funding Bill As Government Shutdown Looms — Mike Johnson Says 'We Have Time To Fix The Situation'

Wednesday&#8217;s trading session saw the stock market slip into the red following the Federal Reserve&#8217;s decision to <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40926026/federal-reserve-delivers-bold-0-5-rate-cut-signals-further-easing-ahead">cut interest rates by 0.5%</a>. This marks the beginning of the central bank&#8217;s highly anticipated cutting cycle, the first since March 2020. T
The Dow Jones Industrial Average dropped 0.25% to 41,503.10, while the S&amp;P 500 slipped 0.3% to 5,618.26. The Nasdaq also fell 0.3%, closing at 17,573.30.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)
Nvidia shares closed down 1.92% at $113.37, after hitting an intraday high of $117.7 and a low of $113.22. The stock&#8217;s 52-week high is $140.76, and its 52-week low is $39.23. The tech giant is considering a <a href="https://www.benzinga.com/m-a/24/09/40926078/nvidia-considers-165m-octoai-acquisition-aims-to-strengthen-ai-and-cloud-dominance">$165 million acquisition</a> of the OctoAI startup to bolster its software and cloud computing services.
T-Mobile US, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>)
T-Mobile shares ended the day down 2.97% at $196.68, with an intraday high of $206.1 and a low of $195.47. The stock&#8217;s 52-week high is $206.31, and its 52-week low is $135.82. The company announced a <a href="https://www.benzinga.com/markets/equities/24/09/40925493/t-mobile-partners-with-nvidia-ericsson-and-nokia-to-pioneer-ai-driven-mobile-networks">partnership</a> with Nvidia, Ericsson, and Nokia to pioneer AI-driven mobile networks. The company has also signed an agreement with OpenAI to transform customer experience and redefine customer success standards globally
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40913998/jamie-dimon-says-jpmorgan-is-likely-one-of-the-bigger-users-of-blockchain-technology-but-c?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jamie Dimon Says JPMorgan Is Likely &#8216;One Of The Bigger Users&#8217; Of Blockchain Technology, But Calls Cryptocurrencies A &#8216;Pet Rock&#8217;</a>
Vivos Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VVOS#NASDAQ">VVOS</a>)
Vivos Therapeutics shares surged 47.50% to close at $4.13, after hitting an intraday high of $5.95 and a low of $3.02. The stock&#8217;s 52-week high is $48.79, and its 52-week low is $1.91. The FDA granted 510(k) clearance to the company&#8217;s flagship oral medical device, poised to <a href="https://www.benzinga.com/news/24/09/40920621/vivos-therapeutics-says-it-is-poised-to-disrupt-pediatric-sleep-apnea-market-secures-fda-approval-fo">disrupt the pediatric sleep apnea market</a>.
SoFi Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>)
SoFi shares closed down 0.12% at $8.11, after hitting an intraday high of $8.53 and a low of $8.04. The stock&#8217;s 52-week high is $10.49, and its 52-week low is $6.01. The shares moved on heavy trading volume as investors <a href="https://www.benzinga.com/fintech/24/09/40928342/what-happened-with-sofi-stock-today">anticipated a rate cut</a> from the Federal Reserve.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla shares ended the day up 0.48% at $227.87, with an intraday high of $234.57 and a low of $226.55. The stock&#8217;s 52-week high is $273.93, and its 52-week low is $138.8. The shares traded higher likely due to the broader market reaction to the Federal Reserve's <a href="https://www.benzinga.com/news/24/09/40927218/tesla-shares-surge-amid-fed-rate-cut-and-cybertruck-developments">recent policy decision</a> to cut interest rates.
Photo by Phongphan on Shutterstock
Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> by Benzinga.
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</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>

SOFI

TMUS

VVOS

Nvidia, T-Mobile US, Vivos Therapeutics, SoFi Technologies, Tesla: Why These 5 Stocks Are On Investors' Radars Today

Tesla and SpaceX CEO Elon Musk&nbsp;has agreed with&nbsp;Nvidia Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang&#8217;s prediction of a future where individuals will have personal digital agents akin to Star Wars&#8217; R2-D2 or C-3PO.
What Happened:&nbsp;On Wednesday, during&nbsp;T-Mobile's Capital Markets Day 2024,&nbsp;Huang shared his vision of a future where digital agents will accompany and learn with individuals throughout their lives.
He expressed excitement about the idea of having a computer that grows smarter over time, helping its user accomplish tasks and essentially becoming a personal R2-D2 or C-3PO.
&#8220;I love the idea that I&#8217;ll have my own R2-D2, my own C3PO, and my R2 will be following me,&#8221; he stated, adding, &#8220;People who are just growing up now they&#8217;re going to have their own personal R2 with them.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/40848374/google-co-founder-sergey-brin-admits-company-was-too-timid-to-rollout-chatgpt-like-llms-despite-basi?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Google Co-Founder Sergey Brin Admits Company Was &#8216;Too Timid&#8217; To Rollout ChatGPT-Like LLMs Despite Basically Inventing Them</a>
Huang then discussed the latest advancements introduced by Sam Altman-led OpenAI in the shape of their new <a href="https://www.benzinga.com/top-stories/24/09/40842891/openai-unveils-o1-model-a-step-closer-to-human-like-ai-but-not-without-flaws">reasoning model &#8220;o1,&#8221;</a> highlighting how future AI systems will possess greater reasoning capabilities.
Unlike the single-pass approach currently used in tools like ChatGPT, future systems will perform hundreds of passes, using reinforcement learning to generate more thoughtful responses, he stated.
This increased computational demand is why Huang pointed out <a href="https://www.benzinga.com/news/24/09/40800236/nvidia-faces-investor-scrutiny-over-blackwell-chip-delays-big-revenue-expected-report">improvements in the</a> Blackwell platform, which boosted inference performance by 50 times.
When a clip of Huang&#8217;s interview was shared on X, formerly Twitter, Musk responded with a simple &#8220;True,&#8221; indicating his agreement with Huang&#8217;s vision.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
<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">True
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1836518602813608189?ref_src=twsrc%5Etfw">September 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
R2-D2 and C-3PO are iconic droids from the&nbsp;Star Wars&nbsp;franchise. C-3PO is a protocol droid designed for etiquette and translation, fluent in over six million forms of communication. It is another gem from Star Wars, which often serves as a companion to R2-D2.
Why It Matters: Earlier this month, OpenAI launched a new model, ‘o1,' which is a significant step towards achieving human-like artificial intelligence.
This model can answer complex questions faster than a human and outperforms previous models in writing code and solving multi-step problems.
Meanwhile,&nbsp;Nvidia&nbsp;is facing rising <a href="https://www.benzinga.com/news/large-cap/24/09/40820349/nvidia-ceo-jensen-huang-admits-its-tense-as-surging-demand-for-blackwell-chips-sparks-customer-fru">tensions due to the limited supply</a> of its latest Blackwell chips. The company is experiencing such great demand for its chips that it is causing frustration among some of Nvidia&#8217;s customers.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Photo Courtesy: cfg1978 On Shutterstock.com
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Elon Musk Agrees With Nvidia CEO Jensen Huang's Vision Of A Future Where We'll Have Our Own AI-Powered Personal Assistants Like Star Wars' R2-D2 Droid

Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) has started temporary furloughs for thousands of employees as it grapples with the financial <a href="https://www.benzinga.com/markets/equities/24/09/40912464/elon-musk-accuses-faa-of-fining-spacex-over-nonsense-that-doesnt-affect-safety-amazingly-no-star">impact of a machinists union strike</a>.
What Happened: In a memo to employees, Boeing CEO Kelly Ortberg stated that the furloughs, affecting U.S.-based executives, managers, and employees, will occur one week out of every four until the strike concludes. Ortberg and his leadership team will also take pay cuts, The Washington Post <a href="https://www.washingtonpost.com/transportation/2024/09/18/boeing-furloughs-machinists-strike/">reported</a> on Wednesday.
"With production paused across many key programs in the Pacific Northwest, our business faces substantial challenges and it is important that we take difficult steps to preserve cash and ensure that Boeing is able to successfully recover," Ortberg stated. 
The strike, initiated by the 33,000-member International Association of Machinists and Aerospace Workers, began after rejecting Boeing&#8217;s offer. The union demands a 40% pay increase and the reinstatement of a pension program.
Despite the furloughs, work critical to quality, customer support, and key certification programs will continue. Production of the 787 jet in South Carolina remains unaffected.
Analysts estimate the strike could cost Boeing $1 billion weekly. The company could burn through $3.5 billion in cash if the strike extends through September, according to Bloomberg Intelligence.
Boeing&#8217;s financial measures include a hiring freeze, reduced capital and supplier spending, and an end to nonessential travel. The strike is the first by Boeing machinists in 16 years, according to the report.
See Also: <a href="https://www.benzinga.com/markets/equities/24/09/40893386/elon-musk-and-oracles-larry-ellison-begged-jensen-huang-for-nvidia-gpus-at-a-dinner-please-take-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk And Oracle&#8217;s Larry Ellison &#8216;Begged&#8217; Jensen Huang For Nvidia GPUs At A Dinner: &#8216;Please Take Our Money&#8217;</a>
Why It Matters: The strike&#8217;s origins trace back to Saturday, when over 30,000 workers walked off the job after rejecting Boeing&#8217;s offer of a 25% <a href="https://www.benzinga.com/news/24/09/40867999/over-30-000-boeing-workers-are-standing-shoulder-to-shoulder-union-leader-says-strike-could-go-on-fo">wage increase over four years</a>. Union leader Jon Holden emphasized the workers&#8217; resolve, stating, &#8220;They're standing shoulder to shoulder and they're ready. So it (the strike) could go on for a while.&#8221;
Subsequently, Boeing and the union returned to the negotiating table with federal mediators on Wednesday. The talks aim to resolve the wage and pension disputes that triggered the strike. The union&#8217;s demand for a 40% wage hike starkly <a href="https://www.benzinga.com/news/24/09/40913789/boeing-and-its-largest-union-return-to-table-with-federal-mediators-after-30k-workers-strike-over-fa">contrasts with Boeing&#8217;s 25% offer</a>.
Adding to the complexity, Elon Musk recently criticized the Federal Aviation Administration for <a href="https://www.benzinga.com/markets/equities/24/09/40912464/elon-musk-accuses-faa-of-fining-spacex-over-nonsense-that-doesnt-affect-safety-amazingly-no-star">allegedly favoring Boeing</a> over SpaceX in regulatory matters. 
Price Action: Boeing Co. closed at $155.11 on Wednesday, down 0.82% for the day. In after-hours trading, the stock gained 0.38%. Year to date, Boeing&#8217;s stock has dropped by 38.39%, according to <a href="https://pro.benzinga.com/dashboard?quote=AAPL">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40913080/shiba-inu-team-says-launching-k9-finance-liquid-staking-on-shibarium-tomorrow-are-shib-bur?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shiba Inu Team Says Launching K9 Finance Liquid Staking On Shibarium Tomorrow: Are SHIB Burns Set To Accelerate From Here On Now?</a></li>
</ul>
Image Via Shutterstock 
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/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Boeing Enforces Temporary Furloughs Amid Strike, CEO Kelly Ortberg Announces 'Difficult Steps' Like Pay Cuts As $1B Weekly Loss Looms

On Wednesday, Cathie Wood-led Ark Invest continued its trend of offloading shares of Robinhood Markets Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) and Palantir Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>), marking significant trades for the day.
The Robinhood Trade: Ark Invest&#8217;s Ark Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>) sold 24,796 shares of Robinhood. This decision aligns with Ark&#8217;s recent trading patterns, which have seen a <a href="https://www.benzinga.com/markets/equities/24/09/40890420/cathie-woods-monday-maneuvers-ark-invest-continues-to-offload-robinhood-and-palantir-shares">steady decrease</a> in Robinhood holdings. 
The move comes in the wake of Robinhood&#8217;s $3.9 million settlement with California&#8217;s Department of Justice over its previous ban on Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) withdrawals. Despite this setback, Robinhood has been evolving from a meme stock trading platform to a serious contender against traditional brokerages. The value of the trade, based on Robinhood&#8217;s closing price of $22.95 on the same day, is approximately $569,368. 
Notably, Robinhood shares rose after the Federal Reserve cut interest rates by 50 basis points, <a href="https://www.benzinga.com/news/24/09/40926981/robinhood-markets-stock-surges-wednesday-heres-why">benefiting from increased user engagement</a>, margin trading, and favorable growth stock valuations in a low-rate environment. The shares appreciated 1.4% in the regular session and gained 0.9% in the after-hours trading.
The Palantir Trade: Ark Invest&#8217;s ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) fund sold 32,772 shares of Palantir. This move followed the company&#8217;s 5th AIPCon, where CEO Alex Karp expressed optimism about Palantir&#8217;s inclusion in the S&amp;P 500 Index and the company&#8217;s potential for growth. Based on Palantir&#8217;s closing price of $36.38 on the same day, the value of the trade is approximately $1.2 million.
See Also: <a href="https://www.benzinga.com/markets/equities/24/09/40867788/expert-says-warren-buffetts-top-executive-ajit-jain-sold-berkshire-hathaway-stake-because-the-st?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Expert Says Warren Buffett&#8217;s Top Executive Ajit Jain Sold Berkshire Hathaway Stake Because &#8216;The Stock Was Fully Pricing The Business&#8217;</a>
Other Key Trades: 
<ul>
<li>Ark Invest sold shares of Veeva Systems Inc. The firm also offloaded shares of Butterfly Network Inc. </li>
<li>Ark Invest bought shares of Tempus AI Inc and sold shares of Roblox Corp. </li>
<li>Ark Invest fund sold shares of Intuitive Surgical Inc and bought shares of 3D Systems Corp. </li>
</ul>
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/09/40892040/starbucks-north-america-ceo-michael-conway-quits-after-just-6-months-in-the-position?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Starbucks North America CEO Michael Conway Quits After Just 6 Months In The Position</a></li>
</ul>

ETFs

ARKF

ARKK

HOOD

PLTR

Cathie Wood's Ark Invest Continues Dumping Robinhood And Palantir Shares As Interest Rates Fall

On Wednesday, Betsey Stevenson expressed her astonishment at Donald Trump&#8217;s running mate J.D. Vance and his supporters&#8217; economic optimism despite the Federal Reserve&#8217;s <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40926026/federal-reserve-delivers-bold-0-5-rate-cut-signals-further-easing-ahead">recent rate cut. </a>
What Happened: Stevenson, a former Obama administration economic advisor, shared her views on X, stating, &#8220;I have to admit that I am pleasantly surprised that J.D. Vance and his supporters thinks the economy is too strong for the rate cut.&#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">I have to admit that I am pleasantly surprised that JD Vance and his supporters thinks the economy is too strong for the rate cut. <a href="https://t.co/UzHUaHfkJg">https://t.co/UzHUaHfkJg</a>
&mdash; Betsey Stevenson (@BetseyStevenson) <a href="https://twitter.com/BetseyStevenson/status/1836511962118992076?ref_src=twsrc%5Etfw">September 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Stevenson shared a video featuring a Vance rally where he was asked a question on Federal Reserve&#8217;s move to slash interest rates by 50 basis points. The crowd booed when the question was asked.
Vance said, &#8220;My reaction is half a point is nothing compared to what American families have been dealing with for the last 3 years.&#8221; In response to the Vice Presidential candidate&#8217;s answer, the crowd cheered.
See Also: <a href="https://www.benzinga.com/markets/equities/24/09/40895240/wall-street-could-head-higher-as-traders-look-forward-to-retail-sales-data-ahead-of-fed-decision?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nasdaq, S&amp;P 500 Futures Firm Up Ahead Of Retail Sales Data</a>
Why It Matters: Stevenson&#8217;s post is particularly noteworthy given the ongoing debate around the implications of the rate cut. Republican presidential nominee Trump has <a href="https://www.benzinga.com/news/24/09/40931251/trump-isnt-happy-with-jerome-powells-50-bps-rate-cut-maneuver-i-guess-it-shows-the-economy-is-very-b">expressed skepticism</a> over the Federal Reserve's decision, suggesting it could be indicative of a faltering U.S. economy or a politically motivated action.
Stevenson&#8217;s surprise at Vance&#8217;s optimism might stem from her previous criticism of the Republican vice presidential nominee. She had earlier <a href="https://www.benzinga.com/news/24/08/40643613/jd-vance-slammed-by-ex-obama-advisor-for-spewing-frustrating-lies-on-tariffs-stresses-need-for-fact">rebuked Vance</a> for spreading misinformation about the effects of tariffs on consumer prices.
This comment comes in the wake of the Federal Reserve&#8217;s unexpected decision to slash interest rates by 50 basis points, marking the first rate cut in over four years. This move surprised Wall Street analysts who had anticipated a more modest 25-basis-point cut.
Image via Shutterstock
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</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>

General

Obama-Era Economist Says She Is 'Pleasantly Surprised' That JD Vance Thinks The 'Economy Is Too Strong For The Rate Cut'

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