Latest News for CALBEE Stock (OTC:CLBEY)

Calbee, listed in 2011, is a leader in Japan's snack food industry with nearly 54% of the domestic market. Potato snacks, including chips and the company's original Jagarico and Jagabee potato strips, are a core strength, demonstrated by a dominant 71% share in potato chips. Growth in the Frugra brand, the best-selling cereal product with a 38% share in the domestic cereal market, is the latest growth driver in China. The overseas business, constituting 16% of group sales, has been undergoing restructuring since the partnership with Tingyi and PepsiCo unwound. Apart from China and the U.S., Indonesia and the U.K. are emerging as new growth drivers. Easing competition should end losses in Indonesia while the integration of Calbee U.K. and Seabrook will enhance cost efficiencies.

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CALBEE Inc

Connecticut House passed Tuesday a bipartisan bill to regulate the cannabis and hemp industries in a 130-16 vote, sending it to the Senate.  
Measure&nbsp;<a target="_blank" href="https://www.cga.ct.gov/2024/TOB/H/PDF/2024HB-05150-R00-HB.PDF" rel="noreferrer noopener">No. 5150</a>,&nbsp;&#8220;An Act Concerning Cannabis And Hemp Regulation,&#8221;&nbsp;would redefine high-THC hemp products, ban specific cannabis product advertising and promotion, and allow some hemp farmers to enter the marketplace.&nbsp;
"We can't ban them, but we can regulate the hell out of them," said Rep. Mike D'Agostino (D) co-chair of the General Law Committee as <a href="https://ctmirror.org/2024/04/30/ct-thc-beverages-law/" target="_blank" rel="noreferrer noopener">reported</a> by CT Mirror. "We say, OK, those products need to be manufactured in accordance with our standards. They need to be labeled in accordance with our standards they have to be to have disclosures in accordance with our standards."
The initial version of the bill proposed limiting the amount of THC per serving to 0.5 milligrams, but this was amended to one milligram per serving, enabling sales in package stores and cannabis dispensaries.&nbsp;&nbsp;
Pro tip: Learn all about the&nbsp;future of the cannabis industry at the Benzinga Cannabis Capital Conference&nbsp;this October in Chicago. Hear directly from key industry players and policymakers. Get your tickets now by following&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">this&nbsp;link</a>,&nbsp;and access a 20% discount using the code JAVI20.
<h2 class="wp-block-heading">Rules Need To Be Followed </h2>
The measure also strictly limits advertising for cannabis businesses, and&nbsp;establishes labeling and licensing rules.&nbsp;&nbsp;
"We need to make sure that the rules are&nbsp;being followed, that&nbsp;there's&nbsp;not a product out there that is unregulated,&nbsp;that is&nbsp;being sold&nbsp;to minors, that is&nbsp;being sold&nbsp;in convenience stores, that is outside of the strict structures that we created,"&nbsp;D'Agostino&nbsp;said.
Rep.&nbsp;Dave Rutigliano&nbsp;(R) was among many Republicans who are against cannabis legalization, but voted in favor of the bill.&nbsp;&nbsp;
"It's&nbsp;already legal. We&nbsp;can't&nbsp;make it unllegal.&nbsp;So&nbsp;what&nbsp;we've&nbsp;decided to&nbsp;do is&nbsp;try to regulate it in a way that makes a safer environment for everyone,"&nbsp;Rutigliano said.&nbsp;"Our goal this year, as it was last year, is to get THC products, intoxicating products out of our supermarkets, convenience stores and gas stations, to put it in a place where&nbsp;it's&nbsp;regulated, where&nbsp;it's&nbsp;taxed and controlled."
Promotions and discounts&nbsp;are also forbidden&nbsp;under this measure, and Rutigliano previously commented on that by saying,&nbsp;&#8220;We thought that commercialization of marijuana was supposed to be sort of a social justice kind of thing, to decriminalize it, not to promote it. These guys are putting these coupons in the Pennysaver.&#8221;
See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/cannabis/24/03/37822214/video-connecticut-ag-warns-of-illegal-cannabis-edibles-packaged-to-look-like-childrens-snacks" rel="noreferrer noopener">Video &#8211; Connecticut AG Warns Of Illegal Cannabis Edibles Packaged To Look Like&nbsp;Children&#8217;s&nbsp;Snacks</a>
Courtesy of&nbsp;Handatko&nbsp;via Shutterstock

Cannabis

Connecticut House Passes Bipartisan Measure Regulating Cannabis And Hemp Industries

Tesla and SpaceX CEO Elon Musk on Wednesday reacted to a social media user&#8217;s comment about Meta Platforms, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) Instagram&#8217;s <a href="https://www.benzinga.com/news/24/01/36487758/instagrams-update-dilemma-are-new-features-hurting-creator-income">algorithm change</a>.
What Happened: Instagram, a subsidiary of Meta, earlier this week announced a significant change in its recommendation algorithm for Reels. The update aims to promote original content and discourage the reposting of others&#8217; work.
Adam Mosseri, the head of Instagram, explained the changes in a video posted on Instagram, stating that the platform would <a href="https://www.benzinga.com/news/24/04/38085248/instagram-creators-can-now-earn-upto-30k-in-a-month-with-reels-photo-carousels-and-more-as-meta-revi">prioritize original content</a> over reposted material in its recommendations. Additionally, accounts that frequently share unoriginal content without adding value will be removed from recommendations.
See Also: <a href="https://www.benzinga.com/news/24/04/38480983/giant-leap-for-apple-new-leak-of-iphone-16-lineup-confirms-recent-rumors-about-screen-sizes-and-came?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Giant Leap For Apple? New Leak Of iPhone 16 Lineup Confirms Recent Rumors About Screen Sizes And Camera Bump</a>
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01232230/Screenshot-2024-05-02-at-8.52.15%E2%80%AFAM-1024x859.png" alt="" class="wp-image-318503" /></figure>
Following this announcement, a user on X, formerly Twitter, humorously suggested that the change would lead to a 99% drop in Instagram content, implying that most of the platform&#8217;s content is duplicated. 
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Musk, in response, reacted with a Face with Tears of Joy emoji.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f602;
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1785786090932031589?ref_src=twsrc%5Etfw">May 1, 2024</a></blockquote>
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Why It Matters: Musk has repeatedly targeted Meta CEO Mark Zuckerberg and his social media platforms like Instagram and Facebook. Last month, the tech billionaire <a href="https://www.benzinga.com/news/24/04/38375786/elon-musk-hates-annoying-instagram-logo-that-pops-up-in-reels-posted-on-x-makes-things-worse">criticized the Instagram Reels posted on X</a>, calling the platform&#8217;s logo &#8220;annoying.&#8221; 
In August 2023, Musk highlighted the importance of &#8220;truth&#8221; and Community Notes on X, pointing out the lack of fact <a href="https://www.benzinga.com/news/23/08/33997990/elon-musk-flexes-truth-in-advertising-on-x-versus-instagrams-unchecked-sponsored-posts">verification for sponsored ads on Instagram</a>. In November the same year, <a href="https://www.benzinga.com/news/23/11/35605209/elon-musk-takes-another-swipe-at-mark-zuckerberg-likens-instagram-to-onlyfans">he mockingly compared</a> the popular photo and video networking site and OnlyFans.
In December, Musk responded to a report suggesting that over a million people worldwide were <a href="https://www.benzinga.com/news/23/12/36381479/elon-musk-reacts-to-the-report-that-claims-more-than-a-million-seek-how-to-delete-instagram-every-mo">eager to delete their Instagram</a> accounts. 
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>.
Read Next: <a href="https://www.benzinga.com/news/24/04/38510070/apple-co-founder-steve-wozniak-reveals-his-unique-obsession-with-this-weird-object-many-of-the-best?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple Co-Founder Steve Wozniak Reveals His Unique Obsession With This Weird Object: &#8216;Many Of The Best Things… Aren&#8217;t Super Functional But They Are Cool&#8217;</a>
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.

Social Media

Tech

Elon Musk Reacts To Algorithm Changes On Mark Zuckerberg-Led Instagram Geared Toward Rewarding Originality: 'Content About To Drop 99%'

Renowned investor Ray Dalio has lent his voice to the growing concern over the Federal Reserve&#8217;s policy decisions. Dalio&#8217;s remarks align with those of former U.S. Treasury Secretary Larry Summers, who has been cautioning against potential rate cuts in the current economic climate.
What Happened: Dalio, the founder of Bridgewater Associates, one of the world&#8217;s largest hedge funds, endorsed Summers&#8217; views on inflation and the Fed&#8217;s precarious position. 
Summers highlighted the acceleration of the Employment Cost Index (ECI) and housing price inflation, indicating that inflation is not firmly heading towards target levels. 
The statistics on the inflation of housing prices, according to Summers, also raise concerns about the sustainability of the decline in shelter inflation. At some point, rentals will pick back up due to rising interest rates and increased unit values.
He also pointed out that the easing of bottlenecks and loose financial conditions make the Fed&#8217;s position particularly precarious.
Dalio took to social media platform X, to express his agreement with Summers&#8217; analysis. &#8220;Larry Summer&#8217;s post provides a good summary of the inflation issue,&#8221; he wrote. This endorsement adds weight to Summers&#8217; warnings about the potential risks of the Fed&#8217;s current policy stance.
As he wrapped off his remarks, Larry said, &#8220;All reasons why the @FederalReserve is in a treacherous environment, should have been more careful about easing signals and now should be very cautious about possible rate cutting.&#8221; 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Larry Summer&#39;s post provides a good summary of the inflation issue. <a href="https://t.co/bkxbMHj4OS">https://t.co/bkxbMHj4OS</a>
&mdash; Ray Dalio (@RayDalio) <a href="https://twitter.com/RayDalio/status/1785790411958620272?ref_src=twsrc%5Etfw">May 1, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/equities/24/04/38535085/s-p-500-nasdaq-100-snap-5-month-winning-streak-in-april-as-inflation-reality-check-hits-bullish-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">S&amp;P 500, Nasdaq 100 Snap 5-Month Winning Streak In April As Inflation Reality Check Hits Bullish Sentiment</a>
Why It Matters: The Federal Reserve has decided to <a href="https://www.benzinga.com/news/econ-s/24/05/38561640/fed-keeps-interest-rates-steady-announces-slower-than-expected-pace-of-balance-sheet-runoff" target="_blank" rel="noreferrer noopener">keep interest rates steady</a>, emphasizing the need to allow more time for restrictive monetary policies to bring inflation towards the Fed&#8217;s 2% goal. This decision has had a significant impact on market dynamics.
&#8220;The inflation data received so far this year have been higher than expected,&#8221; Federal Reserve Chair&nbsp;Jerome Powell&nbsp;said today, adding that it is likely that gaining&nbsp;<a href="https://www.benzinga.com/markets/equities/24/05/38563545/powell-keeps-hawks-at-bay-says-interest-rate-hike-unlikely-stocks-gold-rally-while-treasury-yiel" target="_blank" rel="noreferrer noopener">greater confidence in disinflation</a>&nbsp;will take longer than previously thought.
Meanwhile, the market has been experiencing significant volatility, with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) emerging as the top performer across all asset classes amid <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38571663/bitcoin-tops-returns-in-all-asset-classes-amid-repeatedly-disappointing-inflation-data-moh">repeatedly disappointing inflation data</a>. Renowned economist Mohamed El-Erian highlighted the challenging market conditions in April, despite solid year-to-date returns.
However, not everyone shares the Fed&#8217;s optimism. Renowned economist Peter Schiff has criticized Powell for his dismissal of <a href="https://www.benzinga.com/news/24/05/38571216/peter-schiff-blasts-jerome-powell-for-not-seeing-the-stag-in-stagflation-same-type-of-blindness-that">stagflation concerns</a>. Schiff believes that Powell&#8217;s failure to recognize these signs could lead to a repeat of previous Federal Reserve misstatements.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/04/38514380/wall-street-on-edge-ahead-of-fed-decision-spotlight-falls-on-amazon-and-amd-earnings-analyst-says-s?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">S&amp;P 500, Nasdaq Set To Open Lower Ahead Of Fed Decision: What&#8217;s Dragging Stock Futures?</a>
Ray Dalio. Photo courtesy: World Economic Forum On Flickr
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Global

Economics

$BTC

Ray Dalio Gives A Nod To Larry Summer's Contention That Federal Reserve In A 'Treacherous Environment': 'Should Be Very Cautious About Possible Rate Cutting'

Renowned crypto analyst Ali Martinez has hinted at a potential bull run for Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), despite the cryptocurrency&#8217;s ongoing price correction.
What Happened: In a post on X, formerly Twitter, on Wednesday, Martinez noted that Dogecoin is currently experiencing a 47% price correction, similar to previous cycles. He suggested that this could be the precursor to the next bull run for the meme coin.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Now, in 2024, <a href="https://twitter.com/hashtag/DOGE?src=hash&amp;ref_src=twsrc%5Etfw">#DOGE</a> has yet again broken out of a descending triangle! It is currently undergoing a 47% price correction, very similar to previous cycles, which could ignite the next <a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DOGE</a> bull run! <a href="https://t.co/ZmuHmvIwei">pic.twitter.com/ZmuHmvIwei</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1785808743709434096?ref_src=twsrc%5Etfw">May 1, 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/markets/cryptocurrency/24/04/38491753/spectacular-meme-runs-mean-these-three-altcoins-could-be-doomed-to-irrelevancy-muses-veter?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Spectacular Meme Runs&#8217; Mean These Three Altcoins Could Be &#8216;Doomed To Irrelevancy,&#8217; Muses Veteran Trader</a>
His tweet comes amidst a turbulent time for the cryptocurrency market, with Dogecoin and other major cryptocurrencies experiencing significant losses at the start of May.
In the same thread, Martinez said, &#8220;The ongoing [Dogecoin] price correction is part of its usual behavior before massive bull runs!&#8221;
Dogecoin has fallen 15.65% over a period of the last seven days, while the fall has been steeper over 30 days at 32.9%.
Why It Matters: Martinez&#8217;s prediction aligns with his <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38564859/are-dogecoin-and-shiba-inu-due-a-bounce-this-trader-sees-bull-flag-forming-for-one-coin">previous statements</a> about the behavior of Dogecoin. He has previously noted the coin&#8217;s tendency to mirror its past bull cycles, suggesting that patience could be rewarded.
Other traders have also been optimistic about Dogecoin&#8217;s future. Crypto trader Kevin analyzed Dogecoin's recent performance, noting the cryptocurrency was in an <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38540409/amid-dogecoin-price-dip-trader-predicts-major-support-zone-for-meme-coin">important support zone</a> and if the cryptocurrencies were in a real bull market, the zone between 0.125-0.13 cents level was crucial.
Price Action: At the time of writing, Dogecoin traded 3.5% lower at $0.13, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro.</a>
Photo Courtesy: Shutterstock.com
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38540161/is-bitcoin-heading-for-a-dip-ahead-of-fomc-analyst-predicts-potential-cascade-towar?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Is Bitcoin Heading For A Dip Ahead Of FOMC? Analyst Predicts Potential &#8216;Cascade Towards $55-58K&#8217; Before Rebound</a>
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$DOGE

Dogecoin Bull Run Predicted By Analyst — Current 47% Price Correction 'Part Of Its Usual Behavior'

eXp World Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPI#NASDAQ">EXPI</a>) reported quarterly losses of $(0.02) per share which beat the analyst consensus estimate of $(0.06) by 66.67 percent. This is a 300 percent decrease over earnings of $0.01 per share from the same period last year. The company reported quarterly sales of $943.05 million which beat the analyst consensus estimate of $893.24 million by 5.58 percent. This is a 11.15 percent increase over sales of $848.45 million the same period last year.

Earnings

EXPI

CORRECTION: eXp World Holdings Q1 Adj $(0.02) Beats $(0.06) Estimate, Sales $943.05M Beat $893.24M Estimate

Wednesday saw a mixed performance in major U.S. indices. The Dow Jones Industrial Average closed the day with a 0.2% increase at 37,903.29, while the S&amp;P 500 finished lower by 0.3% at 5,018.39. Similarly, the Nasdaq ended the day down 0.33% at 15,605.48.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Carvana Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>)
Carvana&#8217;s stock jumped 5.03% to close at $87.09 after reporting strong first-quarter earnings. The company&#8217;s revenue of $3.061 billion <a href="https://www.benzinga.com/news/earnings/24/05/38566697/carvana-stock-jumps-on-q1-earnings-revenue-beat-vehicles-sold-up-16-strong-guidance-and-more">beat the consensus estimate</a>, and it sold 91,878 vehicles, a 16% increase year-over-year. 
Enovix Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENVX#NASDAQ">ENVX</a>)
Enovix&#8217;s stock soared 3.99% to close at $6.51. Despite missing the analyst consensus estimate with quarterly losses of 31 cents per share, the company reported blockbuster <a href="https://www.benzinga.com/news/earnings/24/05/38567768/enovix-stock-soars-on-blockbuster-q1-sales">first-quarter sales</a> of $5.272 million, a significant increase from the same period last year. 
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38519395/goldman-sachs-tempers-investor-excitement-on-tesla-self-driving-not-yet-an-eyes-off?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Goldman Sachs Tempers Investor Excitement On Tesla Self-Driving Tech In China: &#8216;Not Yet An Eyes-Off, Unsupervised Product&#8217;</a>
Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>)
Pfizer&#8217;s stock rose 6.09% to close at $27.18. The company reported first-quarter adjusted EPS of $0.82, beating the consensus of $0.54, despite a 33% year-over-year decrease. Sales <a href="https://www.benzinga.com/general/biotech/24/05/38554240/pfizer-embraces-direct-to-consumer-model-for-covid-antiviral-says-comirnaty-revenues-continue-to-">were down 20%</a> to $14.9 billion, still beating the consensus of $14.2 billion. 
NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>)
NIO&#8217;s shares gained 11.65% to close at $5.27. The company reported a 134.6% year-over-year increase in <a href="https://www.benzinga.com/markets/equities/24/05/38547416/why-nio-shares-are-gaining-today">April vehicle deliveries</a>, reaching a total of 15,620 vehicles. 
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla&#8217;s stock fell 1.79% to close at $180, despite news of a potential full self-driving <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38542475/teslas-stock-could-rise-by-up-to-24-if-ev-giants-china-fsd-rollout-succeeds-says-fu">software rollout</a> in China. 
Photo by Jirapong Manustrong on Shutterstock
Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> by Benzinga.
Read Next: <a href="https://www.benzinga.com/government/24/04/38488235/supreme-court-drivers-hauling-baked-goods-are-in-transportation-not-baking?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Supreme Court: Drivers Hauling Baked Goods Are in Transportation, Not Baking</a>
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 Engineered by 
 Benzinga Neuro, Edited by 
 
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 Shivdeep Dhaliwal</a> 
 
 
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 The GPT-4-based Benzinga Neuro content generation system exploits the 
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 create comprehensive and timely stories for you. 
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Equities

CVNA

ENVX

TSLA

Carvana, Enovix, Pfizer, Nio, Tesla: Why These 5 Stocks Are On Investors' Radars Today

Renowned economist Mohamed El-Erian shared a comprehensive table of financial returns for major assets and asset classes, highlighting the volatility of the market in April.
What Happened: El-Erian, in his post on X, acknowledged the challenging market conditions in April, despite the solid year-to-date returns. He noted the significant repricing of Fed cuts due to consistently disappointing inflation data.
&#8220;While April proved to be the toughest month so far in 2024 for some of them, the year-to-date returns remain solid overall &#8212; especially given the extent to which markets have repriced their expectations of Fed cuts in response to repeatedly disappointing inflation data,&#8221; El-Erian wrote. 
He shared a table, covering the performance of major indices from 2020 to Apr. 30, which shows diverse results across different asset classes and regions. Notably, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) has been the top performer in all asset classes.
The indices covered include the DJIA, S&amp;P 500, Nasdaq, Stoxx Euro 600, FTSE 100 Index, Shanghai Composite Index, NIKKEI 225 Index, Gold, Oil, and Bitcoin.
Bitcoin&#8217;s journey has been particularly volatile, with a 303.95% surge in 2020, followed by a 64.21% drop in 2022. However, it made a strong comeback in 2023 with a 153.32% gain. As of Apr. 30, its year-to-date performance stands at a solid 39.09%, demonstrating its resilience amidst market fluctuations.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The usual monthly table of financial returns for some major assets/asset classes. While April proved to be the toughest month so far in 2024 for some of them, the year-to-date returns remain solid overall &#8212; especially given the extent to which markets have repriced their… <a href="https://t.co/QAVz10ioIL">pic.twitter.com/QAVz10ioIL</a>
&mdash; Mohamed A. El-Erian (@elerianm) <a href="https://twitter.com/elerianm/status/1785778081745043659?ref_src=twsrc%5Etfw">May 1, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38479551/is-the-memecoin-supercycle-over-mad-crypto-alpha-with-ivan?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Is The &#8216;Memecoin Supercycle&#8217; Over? Mad Crypto Alpha With Ivan</a>
Why It Matters: El-Erian&#8217;s insights come at a time when the <a href="https://www.benzinga.com/news/econ-s/24/05/38561640/fed-keeps-interest-rates-steady-announces-slower-than-expected-pace-of-balance-sheet-runoff">Federal Reserve has decided to keep interest rates steady</a>, emphasizing the need to allow more time for restrictive monetary policies to bring inflation towards the Fed's 2% goal. This decision has had a significant impact on market dynamics.
"The inflation data received so far this year have been higher than expected," Federal Reserve Chair Jerome Powell said today, adding that it is likely that gaining <a href="https://www.benzinga.com/markets/equities/24/05/38563545/powell-keeps-hawks-at-bay-says-interest-rate-hike-unlikely-stocks-gold-rally-while-treasury-yiel">greater confidence in disinflation</a> will take longer than previously thought.
Addressing concerns about potential rate hikes due to recent inflationary pressures, Powell said: "I think it's unlikely that the next policy rate move will be a hike. We'd need to see persuasive evidence that our policy stance is not sufficiently restrictive to bring inflation sustainably down to 2% overtime. That's not what we think we're seeing."
Meanwhile, <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38570836/bitcoins-historical-data-suggests-a-potential-99-surge-says-crypto-analyst-time-to-buy-the">Bitcoin&#8217;s historical data suggests</a> a potential 99% surge, according to a prominent crypto analyst. This insight, combined with El-Erian&#8217;s observations, underscores the complex dynamics at play in the current market.
Price Action: Bitcoin is currently priced at $57,635, marking a 1.08% decrease over the last 24 hours. However, it has seen an impressive 30.48% increase since the beginning of the year, according to the data&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38491753/spectacular-meme-runs-mean-these-three-altcoins-could-be-doomed-to-irrelevancy-muses-veter?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Spectacular Meme Runs&#8217; Mean These Three Altcoins Could Be &#8216;Doomed To Irrelevancy,&#8217; Muses Veteran Trader</a>
Image Via Wikimedia Commons
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.

Bitcoin Tops Returns In All Asset Classes Amid 'Repeatedly Disappointing Inflation Data': Mohamed El-Erian Shares Insights On Market Volatility

On the Capitol Hill forum,&nbsp;Palantir Technologies Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) CEO&nbsp;Alex Karp&nbsp;made some controversial remarks, including joking about drone-striking his <a href="https://www.benzinga.com/tech/21/03/20000623/meet-alteryx-a-big-data-analytics-competitor-to-palantir">business rivals</a> and suggesting that&nbsp;protesters be sent to North&nbsp;Korea.
What Happened: The forum, organized by&nbsp;Jacob Helberg, a senior adviser to Karp, was intended to foster a connection between the tech industry and Congress. Karp&#8217;s comments, however, took a surprising political turn,&nbsp;<a href="https://www.politico.com/news/2024/05/01/alex-karp-hill-summit-trump-00155571">reported</a>&nbsp;Politico.
Karp,&nbsp;a featured speaker at the&nbsp;invite-only event, made the controversial comments during a one-on-one discussion with Helberg. He condemned &#8220;pagan&#8221; anti-Israel protests and suggested that&nbsp;the protesters be sent to&nbsp;North Korea for re-education.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/04/38539108/trump-says-if-supreme-court-decides-president-doesnt-get-immunity-then-biden-will-be-prosecuted-for?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Says If Supreme Court Decides President Doesn&#8217;t Get Immunity Then Biden &#8216;Will Be Prosecuted For All His Crimes&#8217;</a>
&#8220;We're&nbsp;gonna do an exchange program&nbsp;sponsored by Karp,&#8221; he said on Wednesday, adding, &#8220;A&nbsp;couple months in North Korea,&nbsp;nice-tasting flavored bark. See how&nbsp;you feel about that.&#8221;
Karp also mused about his longstanding animosity towards certain venture capitalists.
&#8220;I historically have been one that would rage against Silicon Valley venture people,&#8221; he said. &#8220;And I had all sorts of fantasies of using drone-enabled technology to exact revenge — especially targeted — in violation of all norms.&#8221;
Karp&#8217;s remarks, which&nbsp;caused visible discomfort among some&nbsp;attendees, were followed by a surprise video appearance by former President&nbsp;Donald Trump.
When asked about Karp&#8217;s remarks, Helberg, the event organizer, said that the forum&#8217;s goal was&nbsp;to bridge the cultural gap between Washington and Silicon Valley. &#8220;So it's great for both sides to familiarize themselves with a little bit of West Coast humor.&#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.
Why It Matters: Karp&#8217;s controversial remarks are not the first time he has made headlines for his outspoken views. Previously, he&nbsp;criticized the <a href="https://www.benzinga.com/news/23/10/35505475/palantir-ceo-alex-karp-criticizes-uks-decision-to-invite-china-to-ai-summit-if-it-was-my-decision">U.K.&#8217;s decision to invite China</a> to an AI summit, stating that he would not have invited China if it were up to him. 
&#8220;I believe that we are in an arms race and that the world is fracturing and if it was my decision to invite adversarial countries I would not have,&#8221; Karp said in October last year. 
He has also been vocal about the&nbsp;<a href="https://www.benzinga.com/news/23/11/35560418/palantir-co-founder-discusses-companys-role-in-helping-israel-amid-war-with-hamas-stresses-need-to-k">role of Palantir in helping Israel</a>&nbsp;amid the conflict with Hamas.
Despite the controversy, Karp&#8217;s leadership has been praised. After the company&#8217;s fourth-quarter earnings call, CNBC&#8217;s Jim Cramer stated that Karp&#8217;s &#8220;insanity is growing on me,&#8221; and the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/36949493/jim-cramer-admits-palantir-ceo-alex-karps-insanity-is-growing-on-me-after-q4-earnin">Palantir narrative is compelling</a>.
Photo Courtesy: Flickr
Check out more of&nbsp;Benzinga's&nbsp;Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/04/38479082/elon-musk-gives-one-word-response-to-joe-bidens-dig-at-donald-trump-at-white-house-correspondents-di?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Gives One-Word Response To Joe Biden&#8217;s Dig At Donald Trump At White House Correspondents&#8217; Dinner</a>
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.

Politics

Media

PLTR

Palantir CEO Alex Karp Jokes About Drone-Striking Rivals, Suggests Sending Protesters To North Korea At Capitol Hill Forum

Renowned economist Peter Schiff has expressed skepticism over Federal Reserve Chair Jerome Powell&#8217;s dismissal of stagflation concerns.
What Happened: In a post on X, formerly Twitter, on Wednesday, Schiff criticized Powell&#8217;s inability to recognize the signs of stagflation. He compared this to previous Federal Reserve misstatements, such as underestimating the subprime crisis and inflation rates.
He said, &#8220;He sees neither &#8216;stag&#8217; nor &#8216;flation.&#8217; This is the same type of blindness that lead to prevision #Fed misstatements like &#8216;subprime is contained&#8217; and &#8220;inflation is transitory.'&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">At today&#39;s press conference <a href="https://twitter.com/hashtag/Powell?src=hash&amp;ref_src=twsrc%5Etfw">#Powell</a> said he has no idea where all the <a href="https://twitter.com/hashtag/stagflation?src=hash&amp;ref_src=twsrc%5Etfw">#stagflation</a> talk is coming from. He sees neither &quot;stag&quot; nor &quot;flation.&quot; This is the same type of blindness that lead to prevision <a href="https://twitter.com/hashtag/Fed?src=hash&amp;ref_src=twsrc%5Etfw">#Fed</a> misstatements like &quot;subprime is contained&quot; and &quot;inflation is transitory.&quot;
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1785785013394358774?ref_src=twsrc%5Etfw">May 1, 2024</a></blockquote>
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The post came after Powell&#8217;s press conference where he downplayed the possibility of stagflation, a situation characterized by slow economic growth and high inflation.
See Also: <a href="https://www.benzinga.com/news/earnings/24/04/38514380/wall-street-on-edge-ahead-of-fed-decision-spotlight-falls-on-amazon-and-amd-earnings-analyst-says-s?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">S&amp;P 500, Nasdaq Set To Open Lower Ahead Of Fed Decision: What&#8217;s Dragging Stock Futures?</a>
Why It Matters: Powell&#8217;s recent remarks have been focused on <a href="https://www.benzinga.com/markets/equities/24/05/38563545/powell-keeps-hawks-at-bay-says-interest-rate-hike-unlikely-stocks-gold-rally-while-treasury-yiel">reassuring markets</a> about the Federal Reserve&#8217;s stance on inflation. Powell emphasized the need for more time for restrictive monetary policies to bring inflation towards the Fed&#8217;s 2% goal. He also dismissed fears of rate hikes, stating that it was &#8220;unlikely&#8221; that the next policy rate move would be a hike.
However, Schiff&#8217;s tweet suggests that Powell&#8217;s dismissal of stagflation concerns may be a misstep, similar to previous Federal Reserve errors. This criticism comes amidst a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38568674/hawkish-fed-risk-fades-after-powells-remarks-he-set-the-bar-extremely-high-for-rate">cautious stance</a> from the Federal Reserve on returning to the 2% inflation target.
As the debate over inflation and monetary policy continues, the market will be closely watching the Federal Reserve&#8217;s next moves ahead of the June policy meeting.
Photo Courtesy: Wikimedia Commons
Read Next: <a href="https://www.benzinga.com/general/macro-notification/24/04/38526201/is-hawkish-shift-on-inflation-imminent-wall-street-analysts-traders-brace-for-fed-impa?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Is Hawkish Shift On Inflation Imminent? Wall Street Analysts, Traders Brace For Fed Impact</a>
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Peter Schiff Blasts Jerome Powell For Not Seeing The 'Stag' In Stagflation: 'Same Type Of Blindness' That Lead To 'Inflation Is Transitory' Misstatements

Former President Donald Trump has reportedly acknowledged his desire to participate in the Capitol march that took place on January 6, 2021. He, however, refuted claims that he attempted to seize control of his vehicle to head towards the Capitol.
What Happened: Trump, during a speech to supporters in Wisconsin, confirmed that he had expressed to Secret Service agents his wish to join the Capitol march on the day of the riots. He dismissed the testimony of former White House aide Cassidy Hutchinson, who alleged that Trump had &#8220;lunged&#8221; at the steering wheel in an attempt to drive towards the Capitol, <a href="https://thehill.com/homenews/campaign/4636879-trump-confirms-he-wanted-to-go-to-capitol-on-jan-6/">reported</a> The Hill.
&#8220;Remember the person that said I attacked a Secret Service agent in the front of the car? It's not my deal. I'm a lover, not a fighter,&#8221; said Trump to his supporters, according to the report.
He also told them, &#8220;I'd like to go down there because I see a lot of people walking down.&#8221; 
Trump&#8217;s actions on the day of the Capitol riots have been a key issue in President Joe Biden&#8217;s reelection campaign and are central to federal charges against him in Washington. Ex-White House aide Cassidy Hutchinson&#8217;s testimony before the now-disbanded Jan. 6 committee in 2022 raised new questions about Trump&#8217;s actions and his attempts to join supporters marching towards the Capitol.
However, the driver of Trump&#8217;s car on January 6 contradicted Hutchinson&#8217;s testimony, asserting that Trump never tried to take control of the car. A report from House Republicans released earlier this year supports this claim.
See Also: <a href="https://www.benzinga.com/news/24/04/38480519/trump-vs-biden-new-poll-reveals-shift-in-2024-race-as-public-divided-on-presidents-legacies?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs Biden: New Poll Reveals Shift In 2024 Race As Public Divided On Presidents&#8217; Legacies</a>
Despite this, a copy reviewed by The New York Times suggests that the driver corroborated Hutchinson&#8217;s details about Trump&#8217;s insistence on joining supporters at the Capitol.
Why It Matters: The driver&#8217;s testimony, as reported in March, <a href="https://www.benzinga.com/news/24/03/37604526/did-trump-try-to-grab-the-wheel-of-presidential-limousine-on-jan-6-driver-disputes-earlier-narrative">contradicted earlier allegations</a> that Trump tried to seize control of his vehicle during the Capitol riot. This testimony was part of a larger report by House Republicans that downplays Trump&#8217;s involvement in the day&#8217;s chaos.
Following this, Trump called for the <a href="https://www.benzinga.com/news/24/03/37810833/trump-wants-to-know-if-cassidy-hutchinson-will-be-prosecuted-for-her-limo-testimony-shes-totally-cru">prosecution of Hutchinson</a>. The former president&#8217;s demand for legal action came in response to Hutchinson&#8217;s testimony about the events of January 6.
As the U.S. Supreme Court was scheduled to deliberate Donald Trump's presidential immunity claim, former Republican representative Liz Cheney, who was the vice chair of the Jan.6 committee, called upon the apex court to <a href="https://www.benzinga.com/news/24/04/38356833/liz-cheney-says-trump-doing-everything-possible-to-postpone-jan-6-case-beyond-election-deep-flaws-in">rule against it</a>.
Photo courtesy: Shutterstock
Read Next: <a href="https://www.benzinga.com/news/24/04/38482843/americans-split-on-biden-vs-trump-but-nearly-half-of-all-voters-crave-an-alternative-new-poll-shows?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Americans Split On Biden Vs. Trump — But Nearly Half Of All Voters Crave An Alternative, New Poll Shows</a>
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General

Trump Confirms Intent To Join Jan. 6 Capitol March, Denies Lunging At Car's Steering Wheel: 'I'm A Lover, Not A Fighter'

As the cryptocurrency market continues to experience turbulence, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) might be on the brink of a significant upswing, according to historical data.
What Happened: Ali Martinez, a prominent crypto analyst, took to social media platform X to share a promising insight. Martinez highlighted the potential for a substantial Bitcoin surge, based on historical trends.
&#8220;The last three times the #Bitcoin 30-day MVRV dropped below -9% in the last two years, the price of $BTC surged by 64%, 63%, and 99%, respectively. The #BTC 30-day MVRV is currently at -11.6%, suggesting it may be time to buy the dip!&#8221; Martinez wrote.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The last three times the <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> 30-day MVRV dropped below -9% in the last two years, the price of <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> surged by 64%, 63%, and 99%, respectively. The <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> 30-day MVRV is currently at -11.6%, suggesting it may be time to buy the dip! <a href="https://t.co/Q85skH7Hyj">pic.twitter.com/Q85skH7Hyj</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1785745504673866190?ref_src=twsrc%5Etfw">May 1, 2024</a></blockquote>
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The MVRV ratio, which divides an asset&#8217;s market capitalization by its realized capitalization, is a pivotal metric in the crypto space. A higher MVRV ratio typically indicates a greater potential profit, potentially leading to increased selling pressure.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38552945/how-did-shiba-inu-become-the-dogecoin-killer-crypto-whale-thinks-its-mission-and-this-one-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">How Did Shiba Inu Become The &#8216;Dogecoin Killer?&#8217; Crypto Whale Thinks &#8216;Its Mission&#8217; And This One Factor Were Key</a>
Why It Matters: This insight comes at a time when the crypto market is facing significant challenges. On the same day, <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38546976/bitcoin-plummets-below-58k-eth-sol-doge-follow-over-400m-liquidated-in-deepest-retrace-in-">Bitcoin&#8217;s value dropped below $58,000</a>, triggering losses for other major cryptocurrencies like Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>).
Moreover, <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38560890/why-bitcoin-might-drop-another-20-10x-research">crypto research firm 10x Research</a> has predicted a further 20% drop in Bitcoin&#8217;s value, citing the differing risk management approaches between institutional investors and retail traders.
However, if Martinez&#8217;s analysis holds true, Bitcoin could be on the verge of a remarkable recovery. This is particularly noteworthy in light of <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38562986/bitcoin-etf-retail-degens-could-start-selling-their-positions-at-58k-analyst-warns">concerns raised by analysts</a> about potential selling pressure from retail &#8220;degens&#8221; who bought Bitcoin ETFs at around $58,000.
Price Action: Bitcoin is currently priced at $57,635, marking a 1.08% decrease over the last 24 hours. However, it has seen an impressive 30.48% increase since the beginning of the year, according to the data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38564859/are-dogecoin-and-shiba-inu-due-a-bounce-this-trader-sees-bull-flag-forming-for-one-coin?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Are Dogecoin And Shiba Inu Due A Bounce? This Trader Sees &#8216;Bull Flag&#8217; Forming For One Coin</a>
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$ETH

$SOL

Bitcoin's Historical Data Suggests A Potential 99% Surge, Says Crypto Analyst: 'Time To Buy The Dip!'

Rep. Marjorie Taylor Greene (R-Ga.) has announced her intention to demand a vote next week on a motion to remove Speaker Mike Johnson (R-La.), marking her second attempt to depose a Republican speaker during this Congress.
What Happened: Greene criticized Johnson at a Capitol news conference on Wednesday for collaborating with Democrats to pass major legislation. She stated that it was time for Congress members to publicly declare their stance on Johnson&#8217;s speakership, <a href="https://www.nytimes.com/2024/05/01/us/politics/marjorie-taylor-greene-mike-johnson-speaker.html">reported</a> The New York Times.
&#8220;Every member of Congress needs to take that vote and let the chips fall where they may,&#8221; said Greene. &#8220;And so next week, I am going to be calling this motion to vacate."
Greene&#8217;s move comes just over a week after Johnson advanced a $95 billion aid package for Israel, Ukraine, and other U.S. allies, despite opposition from Greene and other right-wing Republicans. The House Democratic leaders have stated they will vote against the effort to remove Johnson, providing Republicans with sufficient support to quash Greene&#8217;s motion.
Despite the opposition, House rules permit any lawmaker to raise the challenge and force a vote on it within two legislative days. This mechanism was used last fall by right-wing Republicans to remove former House Speaker Kevin McCarthy (R-Calif.) from his post, making him the first speaker in history to be removed.
Greene&#8217;s effort has struggled to gain traction since she filed the motion to vacate the speaker&#8217;s chair a month and a half ago. Only two other Republicans, Rep. Thomas Massie (R-Ky.) and Rep. Paul Gosar (R-Ariz.), have publicly supported the move so far.
In a statement, Johnson condemned the move, calling it &#8220;wrong for the Republican conference, wrong for the institution and wrong for the country&#8221;. He has stated that the effort will not influence his decisions as speaker.
See Also: <a href="https://www.benzinga.com/news/24/04/38508828/edward-snowden-releases-genie-out-of-the-bottle-his-ongoing-poll-shows-people-want-neither-trump-nor?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Edward Snowden Releases &#8216;Genie&#8217; Out Of The Bottle, His Ongoing Poll Shows People Want &#8216;Neither Trump Nor Biden&#8217;</a>
Why It Matters: Greene&#8217;s attempt to oust Johnson has been in the works with Greene accusing Johnson of making &#8220;slimy&#8221; deals with Democrats and urging him to switch parties. 
This was <a href="https://www.benzinga.com/news/24/04/38351863/marjorie-taylor-greene-insists-motion-to-vacate-mike-johnsons-speakership-is-inevitable-do-the-right">reported</a> after the House&#8217;s approval of a $95 billion foreign aid package, which Johnson supported despite opposition from right-wing Republicans, including Greene. 
Greene has been adamant about her motion to vacate Johnson's Speakership, stating that it is <a href="https://www.benzinga.com/news/24/04/38349699/marjorie-taylor-greene-says-mike-johnsons-speakership-is-over-after-house-passes-ukraine-aid-package">inevitable</a>, regardless of his actions. This ongoing tension within the House of Representatives has intensified, with top Democrats <a href="https://www.benzinga.com/news/24/04/38539364/marjorie-taylor-greenes-ouster-threat-against-mike-johnson-gets-top-democrats-rallying-behind-house">rallying to shield</a> Johnson from Greene&#8217;s ouster threat. 
Read Next: <a href="https://www.benzinga.com/news/24/04/38539108/trump-says-if-supreme-court-decides-president-doesnt-get-immunity-then-biden-will-be-prosecuted-for?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Says If Supreme Court Decides President Doesn&#8217;t Get Immunity Then Biden &#8216;Will Be Prosecuted For All His Crimes&#8217;</a>
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Marjorie Taylor Greene Says She Will Attempt To Oust House Speaker Mike Johnson Next Week: 'Let The Chips Fall...'

In a significant move that could impact the upcoming presidential contest between President Joe Biden and Donald Trump, the Arizona Senate has voted to repeal the state&#8217;s 1864 abortion ban.
What Happened: The Arizona Senate, with a 16-14 vote, passed a repeal of the state&#8217;s 1864 ban on abortion. The repeal is anticipated to be swiftly signed by Governor Katie Hobbs, a Democrat. Two Republican senators deviated from party lines to vote in favor of the repeal, reported Reuters on Wednesday.
The Arizona House had earlier passed the measure after several Republicans sided with Democrats. The repeal comes amidst a growing battle over women&#8217;s reproductive rights across the U.S., following the Supreme Court&#8217;s 2022 decision to leave abortion laws up to individual states.
&#8220;I don&#8217;t want us honoring laws about women, written during a time when women were forbidden from voting,&#8221; said Senator Eva Burch (D)
Democrats nationwide, confident that public opinion supports abortion rights, have sought to spotlight the issue ahead of November&#8217;s presidential election. Arizona, a crucial swing state, is at the heart of this debate.
Despite the repeal, abortion restrictions still exist in Arizona. In 2022, the state legislature passed a law banning abortion after 15 weeks of pregnancy. Arizona Democrats have declared they will continue efforts to restore abortion rights through a ballot measure in November.
See Also: <a href="https://www.benzinga.com/news/24/04/38521425/un-confirms-north-korean-ballistic-missile-landed-in-ukraines-kharkiv-in-january-amid-war-with-russi?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">UN Confirms North Korean Ballistic Missile Landed In Ukraine&#8217;s Kharkiv In January Amid War With Russia</a>
Why It Matters: The repeal comes in the wake of former President Trump&#8217;s call on Arizona lawmakers to <a href="https://www.benzinga.com/news/24/04/38230658/trump-urges-arizona-lawmakers-to-use-heart-common-sense-and-act-immediately-after-supreme-courts-abo">address the state's abortion laws</a> "as fast as possible" after a Supreme Court ruling that upheld an 1864 law. Trump had <a href="https://www.benzinga.com/news/24/04/38194448/trump-expects-arizona-abortion-law-will-be-straightened-out-biden-campaign-says-ex-president-owns-th">expressed his expectation</a> that the Arizona law would be "straightened out." 
Former Secretary of State Hillary Clinton <a href="https://www.benzinga.com/news/24/04/38195417/hillary-clinton-says-arizonas-near-total-abortion-ban-brought-to-you-by-donald-trump-its-going-great">criticized Trump</a> over Arizona's near-total abortion ban, attributing the controversial law to the former president.
Photo Courtesy: Shutterstock.com
Read Next: <a href="https://www.benzinga.com/news/24/04/38508828/edward-snowden-releases-genie-out-of-the-bottle-his-ongoing-poll-shows-people-want-neither-trump-nor?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Edward Snowden Releases &#8216;Genie&#8217; Out Of The Bottle, His Ongoing Poll Shows People Want &#8216;Neither Trump Nor Biden&#8217;</a>
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Arizona, Key Battleground State In Potential Trump-Biden Rematch, Repeals Historic Abortion Ban

Whether to invest in real estate in the high-cost Bay Area or channel your funds into achieving Financial Independence, Retire Early (FIRE) can be daunting. Each option has its unique benefits and challenges.
For instance, a Reddit user asked the community if they should buy a house in the San Francisco Bay Area, or focus on FIRE.
<h3 class="wp-block-heading">Buy Home Or FIRE</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01090838/Fire-1-1024x585.jpg" alt="" class="wp-image-317443" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01090838/Fire-1-1024x585.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01090838/Fire-1-300x171.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01090838/Fire-1-768x439.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01090838/Fire-1-1536x878.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01090838/Fire-1.jpg 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Representational image of a Reddit user&#8217;s FIRE confusion &#x7C; Image generation using Dall-E</figcaption></figure>
Here's a gist of their <a href="https://www.reddit.com/r/fatFIRE/comments/1ch3j0e/does_it_make_sense_to_buy_a_house_in_the_bay_area/">question</a>: the user and their wife's earnings total to $1.35 million a year and they have two kids aged 13 and 9.
They don't have any debt and earn a rental income of $5,000 per month from a home they own in California. They use this to offset the $7,000 per month rent in the Bay Area.
The problem here is, they are "sick of renting and want to buy."
"We have about $2.5 million in the bank and another $2.5 million in unvested equity. Between savings, investments, and interest, we save about $600,000 per year. Monthly expenses are $13,000 per month including rent," the user said.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="776" height="448" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01090751/FIRE.jpg" alt="" class="wp-image-317441" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01090751/FIRE.jpg 776w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01090751/FIRE-300x173.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01090751/FIRE-768x443.jpg 768w" sizes="(max-width: 776px) 100vw, 776px" /><figcaption class="wp-element-caption">Screenshot of the Reddit post</figcaption></figure>
Median home prices in the Bay Area stand at $1.4 million, but the homes in the user's area are in the $2.5 million range.
The problem? The user wants to save $10 million by 2030 and FIRE. If they buy this house, their FIRE plan would be set back by a decade, to 2040.
So what should they do?
Many users pointed out that owning a home is an important "quality of life" upgrade, while others pointed out that a Bay Area home is a good investment in itself.
Now that we have an answer to the user's problem, here's a breakdown on FIRE to help you weigh your options effectively and make an informed decision geared towards personal and financial satisfaction.
<h3 class="wp-block-heading">Understanding FIRE</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01090923/Fire-2-1024x585.jpg" alt="" class="wp-image-317446" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01090923/Fire-2-1024x585.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01090923/Fire-2-300x171.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01090923/Fire-2-768x439.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01090923/Fire-2-1536x878.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01090923/Fire-2.jpg 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Representational image of a retired person &#x7C; Image generated using Dall-E</figcaption></figure>
FIRE is a movement dedicated to extreme savings and investment that allows proponents to retire far earlier than traditional budgets and retirement plans would permit.
By cutting expenses and increasing your savings rate, you can potentially retire in your 40s or even 30s. This requires discipline and a significant upfront financial sacrifice but promises more free years post-retirement.
<h3 class="wp-block-heading">Real Estate in the Bay Area</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01090958/Fire-3-1024x585.jpg" alt="" class="wp-image-317449" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01090958/Fire-3-1024x585.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01090958/Fire-3-300x171.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01090958/Fire-3-768x439.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01090958/Fire-3-1536x878.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01090958/Fire-3.jpg 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Representational image of a home in the Bay Area &#x7C; Image generated using Dall-E</figcaption></figure>
The Bay Area is notorious for its sky-high real estate prices. Purchasing a home here is a significant investment and comes with the promise of substantial long-term returns due to the consistently appreciating value.
However, the initial costs and ongoing property taxes can be a financial burden, potentially delaying retirement or impacting your ability to save.
Make sure you weigh both options and consult an advisor in case you need help.
<h3 class="wp-block-heading">Opportunity Cost</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01091019/Fire-4-1024x585.jpg" alt="" class="wp-image-317452" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01091019/Fire-4-1024x585.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01091019/Fire-4-300x171.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01091019/Fire-4-768x439.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01091019/Fire-4-1536x878.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01091019/Fire-4.jpg 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Weigh your options &#x7C; Image generated using Dall-E</figcaption></figure>
Investing in a pricey Bay Area property means less money to contribute to your FIRE goals. High mortgage payments could significantly cut into the amount you can save and invest each month.
It's crucial to consider whether the potential appreciation in property value outweighs the benefits of early retirement.
<h3 class="wp-block-heading">Lifestyle Considerations</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01091036/Fire-5-1024x585.jpg" alt="" class="wp-image-317453" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01091036/Fire-5-1024x585.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01091036/Fire-5-300x171.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01091036/Fire-5-768x439.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01091036/Fire-5-1536x878.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01091036/Fire-5.jpg 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Lifestyle choices play an important role &#x7C; Image generated using Dall-E</figcaption></figure>
Your lifestyle choices play a crucial role in this decision. If you value stability, putting down roots, and living in a high-demand area, buying in the Bay Area might be worth the investment.
On the other hand, if you prefer flexibility, minimalism, and travel, focusing on FIRE could provide the freedom you desire sooner.
<h3 class="wp-block-heading">Long-term Financial Planning</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01091107/Fire-6-1024x585.jpg" alt="" class="wp-image-317456" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01091107/Fire-6-1024x585.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01091107/Fire-6-300x171.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01091107/Fire-6-768x439.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01091107/Fire-6-1536x878.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01091107/Fire-6.jpg 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Plan your finances judiciously &#x7C; Image generated using Dall-E</figcaption></figure>
It's essential to look beyond immediate costs and benefits. Consider the long-term implications of each choice. Real estate can offer a tangible asset and a potential passive income stream if you choose to rent it out.
Conversely, FIRE can significantly increase your financial options and leisure time in early retirement, providing opportunities for personal growth and exploration that aren't tied to a specific location.
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.
Photo generated using Dall-E

Personal Finance

Real Estate

Buy A House In Bay Area Or Use That Money Toward Early Retirement? As Reddit Goes Abuzz, 5 Things You Should Keep In Mind Before Taking A Decision

SGBX

Trading Halt: Halted at 7:50:00 p.m. ET - Trading Halt: Halt News Pending

Ubisoft Technologies SA (OTC:<a class="ticker" href="https://www.benzinga.com/stock/UBSFF#OTC">UBSFF</a>) revealed the release date for Assassin&#8217;s Creed Mirage on iOS and iPadOS is<a href="https://www.benzinga.com/general/gaming"> June 6. </a>
This marked a significant milestone as it would be the first time an Assassin&#8217;s Creed title originally designed for consoles and PC was available natively on Apple Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) mobile platforms, IGN <a href="https://www.ign.com/articles/assassins-creed-mirage-for-iphone-15-pro-and-ipad-gets-june-release-date">reported.</a>
See Also: <a href="https://www.benzinga.com/general/gaming/23/07/33252418/assassins-creed-mirage-introduces-haptic-vest-so-players-can-feel-everything-including-stabs-and-p">Assassin&#8217;s Creed Mirage Introduces Haptic Vest So Players Can Feel Everything, Including Stabs And Parkour</a>
Developed by Ubisoft Sofia, the game promises optimized touch controls alongside support for external controllers such as the Backbone One, catering to a variety of play preferences.
The pricing structure for Assassin&#8217;s Creed Mirage follows a freemium model, allowing players a 90-minute free trial before requiring a $49.99 fee to unlock the full version. 
This approach aims to give players a taste of the game&#8217;s experience before committing to a purchase. 
Additionally, Ubisoft implemented cross-save and cross-ownership functionality, enabling seamless transition and continuation of gameplay between iPhone and iPad devices. 
This feature eliminates the need for players to repurchase the game on different platforms and ensures a consistent experience across their Apple devices.
The announcement of Assassin&#8217;s Creed Mirage&#8217;s release aligns with Apple&#8217;s Wonderlust event, where the iPhone 15 Pro series was unveiled, boasting the powerful A17 Pro chip. 
This chip is purported to deliver console-quality gaming experiences on mobile devices, emphasizing Apple&#8217;s commitment to gaming on its platforms. 
Read Next: <a href="https://www.benzinga.com/markets/asia/24/03/37877704/tencents-assassins-creed-jade-delayed-to-2025-as-focus-shifts-to-dreamstar">Tencent&#8217;s Assassin&#8217;s Creed Jade Delayed To 2025 As Focus Shifts To DreamStar</a>
Photo: <a href="https://www.shutterstock.com/es/g/olivia_Brown">olivia_Brown</a> on Shutterstock.

Gaming

AAPL

UBSFF

Assassin's Creed Mirage Coming To iPhone 15 Pro, iPad In June

Former President Donald Trump was fined $9,000 for violating a gag order for his criminal trial in<a href="https://www.benzinga.com/general/politics/24/04/38523639/judge-threatens-trump-with-incarceration-fines-him-for-violating-gag-order-jail-may-be-a-necessa"> New York on Tuesday.</a>
Not one to miss an opportunity, Trump is using the fines as a rallying cry to ask for more donations from supporters.
What Happened: After being fined $9,000 and threatened with jail time for future gag order violations in his <a href="https://www.benzinga.com/general/politics/24/04/38326553/trump-hush-money-trial-has-12-jurors-here-are-the-7-men-5-women-to-decide-former-presidents-fate">hush money criminal trial,</a> Trump sent out an email to supporters asking for financial help.
"A Democrat judge JUST HELD ME IN CONTEMPT OF COURT!" an email asking for donations for Trump National Committee read, as shared by <a href="https://www.politico.com/news/2024/04/30/trump-gag-order-fine-fundraising-hush-money-case-00155173">Politico</a>.
The Trump National Committee is a joint fundraising effort by Trump's campaign and the Republican National Committee.
"I was fined $9,000 for 9 gag order violations. THEY WANT TO SILENCE ME! They think they can BLEED ME DRY and SHUT ME UP, but I'll NEVER stop fighting for YOU."
The email came with a link to donate and was sent hours after Judge Juan Merchan issued the gag order violation ruling.
Trump's team also placed ads on X, formerly known as Twitter, according to the report with a message of "This has never happened before in HISTORY!" for Trump's contempt of court violation.
Related Link: <a href="https://www.benzinga.com/general/sports-betting/24/05/38562643/formula-1-stops-trump-fundraiser-miami-grand-prix-connection-to-dolphins-owner-draws-atten">Formula 1 Stops Trump Fundraiser; Miami Grand Prix Connection To Dolphins Owner Draws Attention</a>
Why It's Important: The messaging from Trump to his supporters that he's being fined and silenced could resonate and lead to donations and increased support ahead of the 2024 election.
Trump has previously used key legal moments as important timing in donation requests. The former president saw a spike in donations after it was ruled that his assets could be seized related to the civil case in New York against Trump, his two eldest sons and the Trump Organization.
Trump also used his mug shot from an arrest in Georgia that went viral <a href="https://www.benzinga.com/news/23/08/34059149/trumps-mug-shot-fuels-7-1-million-fundraising-surge">as a fundraising opportunity.</a> Trump even <a href="https://www.benzinga.com/news/23/08/34051602/trump-returns-to-twitter-now-x-boasts-more-followers-than-all-gop-opponents-combined">returned to social media platform X</a>, for the first time in years to make a post with his mug shot asking for donations.
While others might've been embarrassed by a mug shot going viral, Trump saw an opportunity to turn the tables and rally his supporters for donations raising millions of dollars.
Trump's current criminal trial sees him needing to be present in New York on Mondays, Tuesdays, Thursdays and Fridays. While this limits his campaign opportunities during the week, Trump is using the trial, which is full of media members, as an opportunity to publicly speak to supporters and raise money for his campaign.
Read Next: <a href="https://www.benzinga.com/general/politics/24/04/38537950/trump-vs-biden-former-president-holds-lead-in-all-7-swing-states-which-candidate-does-robert-f-k">Trump Vs. Biden: Former President Holds Lead In All 7 Swing States, Which Candidate Does Robert F. Kennedy Jr. Hurt More?</a>
Photo: Shutterstock

Legal

Trump Uses Gag Order Fines As Fundraising Opportunity: 'They Want To Silence Me! They Think They Can Bleed Me Dry!'

Office Props IT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPI#NASDAQ">OPI</a>) reported quarterly earnings of $0.79 per share which missed the analyst consensus estimate of $0.81 by 2.47 percent. This is a 27.52 percent decrease over earnings of $1.09 per share from the same period last year. The company reported quarterly sales of $139.435 million which beat the analyst consensus estimate of $129.768 million by 7.45 percent. This is a 5.30 percent increase over sales of $132.422 million the same period last year.

Earnings Beats

Earnings Misses

Office Props IT Q1 2024 FFO $0.79 Misses $0.81 Estimate, Sales $139.435M Beat $129.768M Estimate

North American (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOA#NYSE">NOA</a>) reported quarterly earnings of $0.58 per share which missed the analyst consensus estimate of $0.64 by 9.38 percent. This is a 18.31 percent decrease over earnings of $0.71 per share from the same period last year. The company reported quarterly sales of $220.37 million which missed the analyst consensus estimate of $251.05 million by 12.22 percent. This is a 22.80 percent increase over sales of $179.46 million the same period last year.

North American Q1 Adj EPS $0.58 Misses $0.64 Estimate, Sales $220.37M Miss $251.05M Estimate

Materion (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTRN#NYSE">MTRN</a>) reported quarterly earnings of $0.96 per share which met the analyst consensus estimate. This is a 28.36 percent decrease over earnings of $1.34 per share from the same period last year. The company reported quarterly sales of $385.287 million which missed the analyst consensus estimate of $386.840 million by 0.40 percent. This is a 12.93 percent decrease over sales of $442.526 million the same period last year.

MTRN

Materion Q1 2024 GAAP EPS $0.96, Inline, Sales $385.287M Miss $386.840M Estimate

CALBEE

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Latest News for CALBEE Stock (OTC:CLBEY)

Friday, February 28, 2020