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Broadridge Unveils AI-Driven Analytics For Multi-Asset Post-Trade Management

Apple MixC Hefei will officially open its doors to the public on Saturday, January 18, at 10 a.m. local time.

AAPL

Apple MixC Hefei Set To Open As First Store In Anhui, China

New development framework and services fast track multi-agent adoption by enabling interoperability and scalability to transform business processes

CTSH

Cognizant Launches Neuro AI Framework To Streamline Multi-Agent AI Adoption Across Industries

Consumer sentiment faces renewed pressure as inflation expectations hit 3.3% for both short and long-term outlooks, despite December&#8217;s core inflation showing signs of moderation at 3.2% year-over-year, <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43001512/inflation-rises-to-29-in-december-core-slows-yet-rising-energy-costs-put-feds-target-at-risk">below the expected 3.3%</a>.
&#8220;The consumer is worried about both short-term inflation expectations over the next year and long-term inflation expectations over the next 3 to 5 years, with both popping to 3.3%,&#8221; said Cathie Wood, CEO of Ark Invest, highlighting the impact on consumer expectations.
<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">Inflation rises to 3.3% for both short- and long-term outlooks. Thanks to current economic conditions, consumer sentiment has slightly rebounded, but inflation concerns dampen expectations. <a href="https://twitter.com/CathieDWood?ref_src=twsrc%5Etfw">@CathieDWood</a> explores the current macroeconomic state in the first &quot;In The Know&quot; of 2025.
&mdash; ARK Invest (@ARKInvest) <a href="https://twitter.com/ARKInvest/status/1879585687244243400?ref_src=twsrc%5Etfw">January 15, 2025</a></blockquote>
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The headline Consumer Price Index rose 2.9% year-over-year in December, up from November&#8217;s 2.7%, marking the third consecutive monthly increase and the highest rate since July. Energy costs played a significant role, with the index climbing 2.6% and accounting for over 40% of December&#8217;s <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43001512/inflation-rises-to-29-in-december-core-slows-yet-rising-energy-costs-put-feds-target-at-risk">monthly price increases</a>.
Peter Schiff, Chief Economist at Europac, cautioned about underlying economic pressures, noting that &#8220;the CRB jumped another 1.6%, reaching a new 17-year high, up 21% in the past four months, while oil spiked almost 4%, closing at $80.41.&#8221;
The CRB Commodity Index, currently at 370.7, reached an all-time high of 470.17 in July 2008. This index tracks the price movement of 19 commodities, including aluminum, cocoa, coffee, copper, and more, providing a broad representation of commodity sectors.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">On the day Wall Street celebrated a &quot;benign&quot; <a href="https://twitter.com/hashtag/inflation?src=hash&amp;ref_src=twsrc%5Etfw">#inflation</a> report, the CRB jumped another 1.6%, hitting a new 17-year high, up 21% in the past four months, while oil spiked almost 4%, closing at $80.41, a seven-month high. Wall Street believes inflation is low as prices are soaring.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1879650691595260249?ref_src=twsrc%5Etfw">January 15, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/25/01/43019359/bitcoin-taps-100k-ethereum-dogecoin-rally-on-positive-inflation-data-trumps-pro-crypto-moves-analyst">Bitcoin, Ethereum, Dogecoin Rally On Positive Inflation Data, Trump&#8217;s Pro-Crypto Moves: Analyst Projects BTC Could Top $200K Range In 2025</a>
Financial markets responded positively to the mixed data, with Treasury yields falling significantly. Mohamed El-Erian, Chief Economic Advisor at Allianz, observed &#8220;a significant, across-the-board move down in yields today in the advanced world,&#8221; attributing it to better-than-expected U.S. inflation data.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">A significant, across-the-board move down in yields today in the advanced world. It was driven by traders/investors' reaction to better-than-expected inflation data in the US , and with the UK outpacing others given its own inflation data release.<a href="https://twitter.com/hashtag/economy?src=hash&amp;ref_src=twsrc%5Etfw">#economy</a> <a href="https://twitter.com/hashtag/markets?src=hash&amp;ref_src=twsrc%5Etfw">#markets</a> <a href="https://t.co/jI8mor6T6G">pic.twitter.com/jI8mor6T6G</a>
&mdash; Mohamed A. El-Erian (@elerianm) <a href="https://twitter.com/elerianm/status/1879647124532699554?ref_src=twsrc%5Etfw">January 15, 2025</a></blockquote>
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However, former Treasury Secretary Larry Summers raised concerns about fiscal stability, pointing out that &#8220;the 5 year 5 year US Treasury yield has hit 5 percent even as the real yield for the same horizon is above 2.6 percent,&#8221; suggesting worries about future budget deficits.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The 5 year 5 year US Treasury yield has just hit 5 percent even as the real yield for the same horizon is above 2.6 percent.  This confirms concerns about looming budget deficits and a rising neutral rate.
&mdash; Lawrence H. Summers (@LHSummers) <a href="https://twitter.com/LHSummers/status/1879225916922175630?ref_src=twsrc%5Etfw">January 14, 2025</a></blockquote>
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The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rallied 1.82%, while the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) gained 2.30%. The Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) led sector gains, rising 2.55% as major banks reported strong fourth-quarter earnings.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/25/01/43018900/from-adani-to-nikola-how-hindenburg-research-reshaped-short-selling-before-its-final-bow">From Adani To Nikola: How Hindenburg Research Reshaped Short-Selling Before Its Final Bow</a></li>
</ul>
Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Economics

Markets

Cathie Wood Says Inflation Worries Dampen Expectations, Schiff Singles Out Wall Street For Swallowing Narrative Even As Prices Soar

Taiwan Semiconductor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) reported quarterly earnings of $2.24 per share which beat the analyst consensus estimate of $2.16 by 3.7 percent. This is a 55.56 percent increase over earnings of $1.44 per share from the same period last year. The company reported quarterly sales of $26.88 billion which beat the analyst consensus estimate of $26.38 billion by 1.91 percent. This is a 37.02 percent increase over sales of $19.62 billion the same period last year.

Earnings

Taiwan Semiconductor Q4 GAAP EPS $2.24 Beats $2.16 Estimate, Sales $26.88B Beat $26.38B Estimate

Macro Economic Events

Econ #s

Reported Earlier, Australia Unemployment Rate For December 4.0% Vs. 4.0% Est.; 3.9% Prior

Reported Earlier, Australia Full Employment Change For December -23.7K Vs. 49.5K (Revised) Prior

Reported Earlier, Australia Employment Change For December 56.3K Vs. 14.5K Est.; 28.2K (Revised) Prior

Former Rep. Sean Duffy (R-Wis.), and President-elect Donald Trump&#8216;s pick to lead the Department of Transportation, pledged Wednesday to maintain rigorous oversight of Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) and <a href="https://www.benzinga.com/news/24/10/41398764/nhtsa-opens-probe-into-2-4m-tesla-vehicles-after-reports-of-4-crashes-with-fsd-involved">continue safety investigations</a> into Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) during his Senate confirmation hearing.
What Happened: Duffy told the Senate Commerce Committee that Boeing needs &#8220;tough love&#8221; as it grapples with recent safety failures, including January 2024&#8217;s Alaska Airlines door panel blowout incident involving a 737 Max 9 aircraft.
&#8220;We have to make sure they are implementing their safety plan,&#8221; Duffy <a href="https://www.commerce.senate.gov/2025/1/full-committee-nomination-hearing_2">said</a>, emphasizing his commitment to working with the Federal Aviation Administration to restore global confidence in the aircraft manufacturer.
The former Wisconsin congressman also committed to allowing the National Highway Traffic Safety Administration to proceed with its investigation into Tesla&#8217;s Full Self-Driving software. The probe, launched last October, covers approximately 2.4 million vehicles following four reported crashes.
When questioned by Sen. Ed Markey (D-Mass.) about potential conflicts given Tesla CEO Elon Musk&#8216;s status as a Trump campaign donor, Duffy emphasized his independence. &#8220;I commit to this committee and to you that I will let NHTSA do their investigation,&#8221; he said, noting he hasn&#8217;t met industry executives.
See Also: <a href="https://www.benzinga.com/news/25/01/43019094/bidens-farewell-address-targets-tech-oligarchy-in-trump-2-0-era-president-says-americans-face-avalanche-of-misinformation">Biden&#8217;s Farewell Address Targets Tech Oligarchy In Trump 2.0 Era: President Says Americans Face &#8216;Avalanche Of Misinformation&#8217;</a>
Why It Matters: Duffy also signaled support for reforming highway funding to capture revenue from electric vehicle users, who currently don&#8217;t contribute to the Highway Trust Fund through gas taxes. This stance aligns with Trump&#8217;s previously announced plans to reshape EV policies, including the potential <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41988194/trump-plans-to-erase-ev-tax-credit-analyst-says-its-net-bullish-calls-sell-off-wrong-knee-jerk-reaction">elimination of consumer tax credits</a>.
The nomination comes as the transportation sector faces multiple challenges, from aviation safety concerns to evolving autonomous vehicle regulations. If confirmed, Duffy would oversee critical agencies including the FAA, NHTSA, and Federal Railroad Administration, with Trump <a href="https://www.benzinga.com/news/24/11/42053292/trump-picks-sean-duffy-as-next-transportation-secretary-says-he-will-usher-in-the-golden-age-of-travel">tasking him to usher in what he calls</a> &#8220;The Golden Age of Travel.&#8221;
Market analysts at Wedbush Securities have noted that a Trump <a href="https://www.benzinga.com/24/11/42076876/what-could-trumps-new-dot-pick-mean-for-evs-airlines-railroads">presidency could present headwinds</a> for the broader EV industry, particularly affecting startups like Rivian Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) and Lucid Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) if existing incentives are rolled back.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/25/01/43019732/as-tesla-soars-8-gary-black-cites-trump-impact-elon-musk-pay-package-and-30k-car-as-key-catalysts-for-ev-maker-in-2025">As Tesla Soars 8%, Gary Black Cites Trump Impact, Elon Musk Pay Package, And $30K Car As Key Catalysts For EV Maker In 2025</a></li>
</ul>
Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

LCID

RIVN

TSLA

Trump's Transportation Pick Says He Will Continue Tesla FSD Probe, Sees Need For 'Tough Love' With Boeing

SpaceX's&nbsp;seventh test flight of its&nbsp;Starship&nbsp;launch vehicle is now slated for Thursday, after getting pushed back from Wednesday owing to unfavorable weather conditions. 
What Happened:&nbsp;The company said that it is currently preparing to launch Starship on Thursday at 4:00 p.m. CT. 
The launch was previously slated for Wednesday but the company had warned that it is keeping a close eye on weather and that the timeline could be pushed in case of adverse conditions. 
Starship's seventh flight test has already been&nbsp;<a href="https://www.benzinga.com/general/space/25/01/42937833/elon-musks-spacex-delays-starship-7th-test-flight-to-wednesday" target="_blank" rel="noopener">postponed multiple ti</a>mes. In December, company CEO Elon Musk had pegged it for as early as&nbsp;<a href="https://www.benzinga.com/25/01/42891052/spacexs-starship-7th-flight-test-now-slated-for-monday" target="_blank" rel="noreferrer noopener">Jan. 10</a>.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Due to weather, we&#39;re now targeting Thursday, January 16 for Starship&#39;s seventh flight test. The 60-minute launch window opens at 4 p.m. CT. → <a href="https://t.co/QNCSPTewLA">https://t.co/QNCSPTewLA</a> <a href="https://t.co/ZV08pXeqbf">pic.twitter.com/ZV08pXeqbf</a>
&mdash; SpaceX (@SpaceX) <a href="https://twitter.com/SpaceX/status/1879549071276531906?ref_src=twsrc%5Etfw">January 15, 2025</a></blockquote>
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</figure>
Why It Matters: Starship, currently&nbsp;<a href="https://www.benzinga.com/24/12/42718758/elon-musk-says-starship-will-get-fully-reusable-heat-shield-in-2025-i-am-confident" target="_blank" rel="noreferrer noopener">undergoing testing and development</a>, will launch from Starbase for its seventh test flight carrying 10 Starlink simulators which are similar in size and weight to the company's next-generation Starlink satellites in a bid to demonstrate its capabilities in the satellite launch segment.
For the upcoming flight, SpaceX is looking to catch the two-stage vehicle&#8217;s booster back at the launch pad at Starbase with the launch tower&#8217;s metallic arms like on its fifth test flight in October. However, in case of any safety concerns, the company will splash it down in the Gulf of Mexico, it said.
The spacecraft, meanwhile, is slated to be splashed down in the Indian Ocean for the upcoming test.
While SpaceX has conducted 6 test flights of its ambitious launch vehicle to date, none of them carried a payload. The last test flight of Starship was in November.
Starship is key to many big ambitions in the field of space exploration. While NASA is looking forward to landing humans back on the surface of the Moon after a gap of over 50 years with the help of a&nbsp;<a href="https://www.benzinga.com/24/11/42108681/spacex-shows-off-conceptual-version-of-starship-which-will-help-humans-land-back-on-moon-in-over-50-yrs" target="_blank" rel="noreferrer noopener">custom version of the Starship</a>, Musk dreams of taking&nbsp;<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">humans to the planet Mars</a>&nbsp;aboard the&nbsp;vehicle.
Check out more of Benzinga's Future Of Mobility coverage by <a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Photo via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/25/01/42995131/10-best-selling-evs-in-us-in-2024">Elon Musk&#8217;s Tesla Leads The Pack In Top-Selling EVs In US In 2024: Ford, GM Follow</a></li>
</ul>

SPACE

Tech

Starship's 7th Test Flight With Simulated Starlink Payload Delayed Until Thursday Due To Unfavorable Weather, Says SpaceX

Memecoins roared back into momentum on Wednesday amid a broader rally supported by encouraging inflation data and Donald Trump's pro-cryptocurrency moves.
What happened: The unconventional Fartcoin surged over 27% in the last 24 hours to emerge as the biggest meme coin gainer.&nbsp;
The Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based token amassed a market capitalization of $1.24 billion at the time of writing, with trading volumes jumping 26% in the last 24 hours.
Fartcoin was followed by dogwifhat, another popular community-driven Solana meme coin, based on a meme featuring a dog wearing a hat.
The billion-dollar-valued cryptocurrency pumped 11%, while its trading volume jumped 75%.
PENGU, the official coin of the popular non-fungible token collection Pudgy Penguins, gained 9.76% to a market capitalization of $2.16 billion.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 10:45 p.m. ET)</td>
</tr>
<tr>
<td>Fartcoin (FARTCOIN)</td>
<td>+27.22%</td>
<td>$1.25</td>
</tr>
<tr>
<td>dogwifhat (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WIF</a>)</td>
<td>+11.55%</td>
<td>$1.71</td>
</tr>
<tr>
<td>Pudgy Penguins (PENGU)</td>
<td>+9.76%</td>
<td>$0.03448</td>
</tr>
</tbody>
</table>
</figure>
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/government/regulations/25/01/42994641/italys-largest-bank-leaps-into-bitcoin-trading-with-1-million-test-investment-but-ceo-says-he-doesnt-invest-in-btc-personally">Italy&#8217;s Largest Bank Leaps Into Bitcoin Trading With $1 Million &#8216;Test&#8217; Investment But CEO Says He Doesn&#8217;t Invest In BTC Personally</a>
Meme coin heavyweights like Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) also gained momentum, rising 3.63% and 2.58%, respectively.
Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)-based frog-themed coin Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>) jumped 6%, while cat-themed Popcat, one of 2024's biggest gainers, rallied 7.88% in the last 24 hours.
The total meme coin market capitalization rose 4.83% to $106.94 billion, while the overall volume surged 27.81% to $10.74 billion.
The upsurge followed <a href="https://www.benzinga.com/25/01/43019359/bitcoin-taps-100k-ethereum-dogecoin-rally-on-positive-inflation-data-trumps-pro-crypto-moves-analyst">slower-than-expected growth</a> in core inflation, seen as a net positive for risk-on assets. Additionally, a report raised hopes for <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43008666/sec-under-trump-administration-to-revise-crypto-policies-report" target="_blank" rel="noreferrer noopener">clear cryptocurrency regulations under new SEC leadership</a> in the Trump administration.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/25/01/42993521/michael-saylors-microstrategy-not-alone-in-bitcoin-acquisition-says-bitwise-chief-investment-officer-its-a-bona-fide-megatrend">Michael Saylor&#8217;s MicroStrategy Not Alone In Bitcoin Acquisition, Says Bitwise Chief Investment Officer: &#8216;It&#8217;s A Bona Fide Megatrend&#8217;</a></li>
</ul>

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Movers

Trading Ideas

$DOGE

$ETH

$PEPE

$SHIB

$SOL

$WIF

Dogecoin, Shiba Inu Advance But Fartcoin, Pudgy Penguins Lead Memecoin Rally With Double-Digit Gains

Payments-focused cryptocurrency XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) surged past $3 for the first time in 7 years on Wednesday in anticipation of a cryptocurrency-friendly SEC under the incoming Donald Trump administration.
What happened: XRP leaped over 8% in the last 24 hours to a market capitalization of $174 billion, surpassing stablecoin Tether (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>) to become the third-most valued cryptocurrency.
To put things into perspective, XRP currently has a larger market valuation than Wall Street-listed software giant Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>).
The coin's trading volume soared 121% in the last 24 hours to $23.20 billion, becoming the fourth-most traded cryptocurrency after Tether and the heavyweights, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>).
See Also: <a href="https://www.benzinga.com/general/education/25/01/43018482/if-you-invested-1000-in-xrp-token-10-years-ago-heres-how-much-youd-have-today">If You Invested $1,000 In XRP Token 10 Years Ago, Here&#8217;s How Much You&#8217;d Have Today</a>
XRP's searing rally got it <a href="https://trends.google.com/trends/explore?date=now%207-d&amp;q=XRP,bITCOIN&amp;hl=en">trending </a>over the internet. According to Google Trends, search interest for the coin hit 100, indicating peak popularity.
Speculative interest rose, with Open Interest in XRP futures jumping nearly 15% to $7.32 billion, <a href="https://www.coinglass.com/BitcoinOpenInterest">according </a>to Coinglass. The Open Interest has nearly tripled since 2025 began.
Why It Matters: The excitement stemmed from several bullish catalysts.
The<a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43008666/sec-under-trump-administration-to-revise-crypto-policies-report"> expected pivot</a> of the SEC from a "hostile" to a more accommodating stance under Trump, the potential approval of XRP <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42878368/xrp-etf-very-soon-likely-next-after-bitcoin-and-ethereum-ripple-president-says">spot exchange-traded funds</a>, &nbsp;and the launch of the <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42783990/heres-how-ripples-rlusd-launch-has-affected-the-xrp-price">RLUSD stablecoin</a> by Ripple Labs.
Ripple Labs has been locked in a nearly <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40240559/xrp-outshines-bitcoin-ethereum-to-become-biggest-daily-gainer-after-judge-imposes-125m-pen">four-year-long legal battle</a> with the SEC over the status of XRP, and any change in the agency&#8217;s top leadership was viewed with optimism.
Meanwhile, the SEC formally <a href="https://www.dropbox.com/scl/fi/smffbtfkimb1hxxyqzfqt/SEC-Opening-Brief.pdf?rlkey=bql4heplqecwf5hvn7j041h7t&amp;e=2&amp;st=lg8w2b4b&amp;dl=0">filed </a>an appeal late Wednesday to overturn a 2023 ruling that Ripple's programmatic sales of XRP to retail clients through exchanges did not violate any securities laws, as claimed by the regulator.
Price Action: At the time of writing, XRP was exchanging hands at $3.02, up 8.64% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. Year-to-date, the coin was up 46.19%, compared to nearly 237% in gains in 2024.
Image via Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/25/01/42993521/michael-saylors-microstrategy-not-alone-in-bitcoin-acquisition-says-bitwise-chief-investment-officer-its-a-bona-fide-megatrend">Michael Saylor&#8217;s MicroStrategy Not Alone In Bitcoin Acquisition, Says Bitwise Chief Investment Officer: &#8216;It&#8217;s A Bona Fide Megatrend&#8217;</a></li>
</ul>

$BTC

$USDT

$XRP

PLTR

XRP Soars To 7-Year High, Becomes Third-Most Valued Crypto Even As SEC Challenges 2023 Verdict In Ripple Labs Case

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) investor Gary Black has expressed concerns about Elon Musk acquiring TikTok's U.S. operations.
What Happened: Following the report about <a href="https://www.benzinga.com/general/social-media/25/01/42965533/elon-musk-emerges-as-potential-tiktok-us-buyer-as-ban-deadline-looms-company-terms-it-pure-fiction">Chinese officials considering</a> Musk as a potential buyer of TikTok, Black took to X, formerly Twitter, and said, "A purchase of TikTok will hurt $TSLA shares."
Black warned that Musk&#8217;s acquisition could negatively impact Tesla&#8217;s stock, as it might require selling billions in Tesla shares to fund the estimated $40-$50 billion deal.
He noted that a similar situation occurred after Musk&#8217;s Twitter purchase, leading to a significant drop in Tesla&#8217;s share value.
See Also: <a href="https://www.benzinga.com/general/social-media/25/01/42957741/tiktok-ban-deadline-ahead-what-will-happen-to-app-on-your-phone">TikTok Ban Deadline Ahead: What Will Happen To App On Your Phone?</a>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Bloomberg: Tesla CEO Elon Musk's Acquisition of TikTok US Being Evaluated as Potential Option Amid Impending Ban. My view is the same as I warned before Elon bought Twitter: A purchase of TikTok will hurt <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> shares because Elon will have to sell $ billions of TSLA shares… <a href="https://t.co/oUmPsYmPks">pic.twitter.com/oUmPsYmPks</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1879565363286863907?ref_src=twsrc%5Etfw">January 15, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Meanwhile, Wedbush analyst Dan Ives has suggested that Musk&#8217;s existing relationship with both the Donald Trump administration and Beijing could facilitate the deal.
In a note on Tuesday, Ives noted, "Given the strong and growing alliance between Trump and Musk this is not a total shock route as behind the scenes the Trump White House is looking at alternatives if the Supreme Court upholds the ban."
<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">&#x203c;&#xFE0F;<a href="https://twitter.com/Tesla?ref_src=twsrc%5Etfw">@Tesla</a> Bull, Dan Ives of Wedbush, weighed in on the potential of CEO Elon Musk buying social media platform <a href="https://twitter.com/tiktok?ref_src=twsrc%5Etfw">@tiktok</a>, which is set to be banned in the United States in less than a week. &#x1f525; There&#39;s speculating that Elon Musk could be an ideal buyer, as he has already purchased… <a href="https://t.co/MffoMKPTel">pic.twitter.com/MffoMKPTel</a>
&mdash; Brian Basson (@BassonBrain) <a href="https://twitter.com/BassonBrain/status/1879424052856512561?ref_src=twsrc%5Etfw">January 15, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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A TikTok spokesperson earlier countered Bloomberg's report about Musk's potential acquisition of TikTok saying, &nbsp;&#8220;We can&#8217;t be expected to comment on pure fiction.&#8221;
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: TikTok users have been actively <a href="https://www.benzinga.com/25/01/42931704/tiktok-users-call-on-trump-to-deliver-immediately-on-his-promise-to-save-app-from-us-ban-we-dont-need-the-supreme-court-to">campaigning to prevent the ban</a>, urging President-elect Trump to intervene. Earlier, it was reported that <a href="https://www.benzinga.com/general/social-media/25/01/43018125/trump-considers-executive-order-to-save-tiktok-from-being-banned-in-4-days">Trump is considering an executive order</a> to save TikTok from the impending ban.
Jimmy Donaldson, also known as MrBeast has also expressed interest in acquiring TikTok, engaging with <a href="https://www.benzinga.com/general/social-media/25/01/42994923/mrbeast-discussing-buying-tiktok-with-billionaires-to-prevent-us-shutdown-lets-see-if-we-can-pull-this-off">several billionaires to explore</a> the feasibility of such a purchase.&nbsp;
Other potential buyers reportedly include Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>), along with a group spearheaded by &#8220;Shark Tank&#8221; investor Kevin O&#8217;Leary.
If an agreement isn&#8217;t finalized by the deadline, TikTok will face removal from U.S. app stores on Sunday, Jan. 19.
Price Action: Tesla&#8217;s stock climbed 8.04% on Wednesday, closing at $428.22. However, in after-hours trading, it slipped 0.63% to $425.54, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</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>.
Image via Shutterstock
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Social Media

MSFT

ORCL

Elon Musk Buying TikTok Could Hurt Tesla Stock, Warns Gary Black — But Wedbush's Dan Ives Thinks It Makes Sense

Scott Bessent, the Treasury Secretary nominee for President-elect Donald Trump, has pledged to uphold the dollar&#8217;s status as the world&#8217;s reserve currency, aiming to usher in a &#8220;new economic golden age&#8221;.
What Happened: As reported by Reuters, Bessent, who is set to face the U.S. Senate Finance Committee on Thursday, underscored the significance of the dollar&#8217;s position in his prepared testimony. He suggested that the upcoming Trump administration should concentrate on productive investment to stimulate economic growth, rather than &#8220;wasteful spending that drives inflation.&#8221;
Bessent also emphasized the need to protect vulnerable supply chains from strategic competitors and advocated for the judicious use of sanctions as part of a comprehensive government strategy to meet national security needs. &#8220;And critically, we must ensure that the U.S. dollar remains the world&#8217;s reserve currency,&#8221; Bessent stated in his remarks.
See Also: <a href="https://www.benzinga.com/news/25/01/43019094/bidens-farewell-address-targets-tech-oligarchy-in-trump-2-0-era-president-says-americans-face-avalanche-of-misinformation">Biden&#8217;s Farewell Address Targets Tech Oligarchy In Trump 2.0 Era: President Says Americans Face &#8216;Avalanche Of Misinformation&#8217;</a>
Why It Matters: Bessent&#8217;s commitment to maintaining the dollar&#8217;s global reserve status comes amidst a backdrop of investor confidence in the U.S. dollar during Trump&#8217;s second term, despite uncertainties surrounding his proposed economic policies. Currency traders have <a href="https://www.benzinga.com/startups/25/01/42897508/the-dollar-will-remain-mighty-investors-double-down-on-trumps-economic-gambit">steadily boosted</a> the dollar&#8217;s value against major international currencies since election night, signaling faith in American economic dominance.
Moreover, Trump&#8217;s recent <a href="https://www.benzinga.com/news/global/24/12/42257504/trump-threatens-brics-nations-with-100-tariffs">stern warning</a> to the BRICS nations against shifting away from the U.S. dollar underscores the incoming administration&#8217;s commitment to maintaining the dollar&#8217;s dominance. This stance is further reinforced by Bessent&#8217;s remarks on securing vulnerable supply chains and using sanctions to meet national security needs.
However, the dollar&#8217;s <a href="https://www.benzinga.com/25/01/42997019/asia-markets-mixed-europe-advances-gold-surges-1-dollar-dips-global-markets-today-while-us-slept">recent dip</a>, ahead of bank earnings reports, suggests that the path to maintaining the dollar&#8217;s global reserve status may not be without challenges.
The dollar index, a measure of the greenback&#8217;s strength against a basket of six other currencies, hit a 26-month high of 110.17 on Monday. The index saw a decline of 0.11% to 109.06 on Tuesday morning.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Politics

Forex

Trump Treasury Nominee Pledges To Maintain Dollar's Global Reserve Status, Outlines Vision For 'New Economic Golden Age'

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares climbed more than 8% Wednesday amid optimistic forecasts from prominent investor Gary Black, who cited multiple growth catalysts for the electric vehicle maker in 2025.
What Happened: Black, managing partner of The Future Fund LLC, highlighted Tesla&#8217;s upcoming $30,000-$35,000 vehicle as a key driver for expanding the company&#8217;s total addressable market in the compact segment. The forecast comes as Tesla dominated U.S. electric vehicle sales in 2024, with its Model Y SUV capturing 28.6% market share.
&#8220;Tesla catalysts are the strongest collection I&#8217;ve seen in years,&#8221; Black wrote on X, pointing to potential regulatory tailwinds under the President-elect Donald Trump administration for autonomous driving approval and the Delaware Supreme Court&#8217;s recent decision on CEO Elon Musk&#8216;s compensation package.
The Future Fund projects Tesla&#8217;s earnings per share to reach $3.70 in fiscal 2025, surpassing the consensus estimate of $3.25. The firm maintains its $380 price target while noting potential upside if Federal Reserve interest rate cuts materialize.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> catalysts are the strongest collection I've seen in years. From the $30-$35K vehicle which promises to expand TSLA TAM to the compact segment, to Trump streamlining the federal process so TSLA can obtain unsupervised autonomy licensure, to accelerated volume growth with… <a href="https://t.co/xxMbAVI9fD">pic.twitter.com/xxMbAVI9fD</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1879668320829419905?ref_src=twsrc%5Etfw">January 15, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/markets/equities/25/01/43018900/from-adani-to-nikola-how-hindenburg-research-reshaped-short-selling-before-its-final-bow">From Adani To Nikola: How Hindenburg Research Reshaped Short-Selling Before Its Final Bow</a>
Why It Matters: Black dismissed <a href="https://www.benzinga.com/general/social-media/25/01/42965533/elon-musk-emerges-as-potential-tiktok-us-buyer-as-ban-deadline-looms-company-terms-it-pure-fiction">speculation about X acquiring</a> TikTok&#8217;s U.S. operations but acknowledged risks to Tesla&#8217;s outlook, including possible changes to the $7,500 federal EV tax credit. When questioned about focusing on Tesla&#8217;s automotive business, Black defended his stance, noting it generates 85% of the company&#8217;s profits.
The bullish outlook comes as <a href="https://www.benzinga.com/25/01/42995131/10-best-selling-evs-in-us-in-2024">the broader EV market</a> shows signs of strength. Industry researcher Cox Automotive expects electric vehicles to comprise 10% of total U.S. auto sales in 2025, up from 8.1% in 2024, despite potential policy uncertainties under the incoming Trump administration.
Tesla&#8217;s stock surge coincided with RBC raising its price target to $440 from $313, contributing to <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43011444/wall-street-rallies-as-treasury-yields-fall-banks-smash-q4-earnings-oil-hits-80-whats-driving-markets-wednesday">Wednesday&#8217;s broader market rally</a> that saw major indices climb more than 1.5% on cooling inflation data.
Price Action: Tesla&#8217;s stock closed at $428.22 on Wednesday, marking an 8.04% gain. In after-hours trading, the stock slightly dipped by 0.61%. Over the past year, Tesla shares have surged an impressive 94.73%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
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Image Via Flickr 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

As Tesla Soars 8%, Gary Black Cites Trump Impact, Elon Musk Pay Package, And $30K Car As Key Catalysts For EV Maker In 2025

James Howells, who lost the legal bid to retrieve his $800 million Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fortune, has now turned to Donald Trump for help, expressing hopes for intervention from the U.S. President-elect, according to a Wednesday report.
What Happened: Howells acknowledged that his chances of recovery are slim after a judge dismissed his request to excavate the landfill that has the discarded hard drive containing 8,000 BTC, as <a href="https://nypost.com/2025/01/15/world-news/man-who-threw-away-750-million-worth-of-bitcoin-says-its-game-over-if-trump-doesnt-intervene/">reported </a>by the New York Post.
"It feels like the end of the world for me. I am now stuck with it and can not escape it. I am stuck with it for life, &#8221; he was quoted as saying.
The Wales-based software engineer sought permission from the Newport City Council to&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41308908/man-who-accidentally-threw-hard-drive-containing-8-000-bitcoins-worth-half-a-billion-dolla" target="_blank" rel="noreferrer noopener">excavate the site</a>&nbsp;to recover it, but the court rejected the plea, citing environmental concerns with excavation.
&#8220;Maybe Donald Trump could help&nbsp;make something happen. I would&nbsp;certainly cut Trump in on&nbsp;the deal if he could&nbsp;help,&#8221; Howells said.
While he admitted to being half-joking, he expressed a genuine desire for any assistance to resolve the situation, saying, &#8220;I&nbsp;am appealing to him and&nbsp;anyone else who can help&nbsp;sort this madness.&#8221;
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/government/regulations/25/01/42994641/italys-largest-bank-leaps-into-bitcoin-trading-with-1-million-test-investment-but-ceo-says-he-doesnt-invest-in-btc-personally">Italy&#8217;s Largest Bank Leaps Into Bitcoin Trading With $1 Million &#8216;Test&#8217; Investment But CEO Says He Doesn&#8217;t Invest In BTC Personally</a>
Why It Matters: The <a href="https://www.benzinga.com/markets/cryptocurrency/23/09/34417913/crypto-investor-threatens-lawsuit-over-lost-8-000-bitcoin-worth-557-million">incident dates back to 2013</a> when Howells unintentionally put a hard drive containing 8,000 BTCs in the trash while cleaning his office.
It was later revealed that <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42232028/remember-james-howells-who-lost-his-hard-drive-with-8000-bitcoins-now-worth-760m-his-ex-girlfriend-reveals-it-was-she-who-threw-it-away">his ex-girlfriend threw the fortune away</a> after Howells asked her to dispose of some "unwanted belongings" in a black sack, which, unknown to both of them, included the hard drive.
The 8,000 Bitcoins would be worth $865 million at the all-time high price of $108,135 and $798.6 million at the current market price of $99,824.88.
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Disclaimer:&nbsp;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.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

Man Who Accidentally Threw Away Bitcoin Worth $800 Million Looks To Trump For Help: 'I Am Appealing To Him'

The U.S. stock market experienced a robust session with the Nasdaq Composite climbing 2.45% to 19,511.23 and the S&amp;P 500 rising by 1.8% to 5,949.91. The Dow Jones Industrial Average also saw gains, increasing by 1.65% to 43,221.55. 
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Quantum Computing Inc.
Quantum Computing Inc. shares soared by 55.45%, closing at $11.55. The stock reached an intraday high of $11.60 and a low of $8.51, with a 52-week range of $27.15 to $0.35. The surge followed <a href="https://www.benzinga.com/25/01/43004816/whats-going-on-with-quantum-computing-stock-today">NVIDIA Corp.&#8217;s announcement</a> of its inaugural Quantum Day, scheduled for March 20 during the GTC 2025 event. This announcement comes shortly after CEO Jensen Huang mentioned that practical quantum computing might still be two decades away. Additionally, Microsoft Corporation&#8217;s plans to make its business clients &#8220;quantum-ready&#8221; by 2025 added to the excitement.
Taiwan Semiconductor Manufacturing Co.
Taiwan Semiconductor&#8217;s stock rose by 2.61%, closing at $206.80. The day&#8217;s trading saw a high of $209.04 and a low of $199.35, with a 52-week range of $222.20 to $100. The company is set to release its fourth-quarter financial results, with analysts expecting a fifth consecutive revenue beat. The anticipated revenue is $26.28 billion, up from $19.62 billion in the same quarter last year, driven by strong semiconductor demand and <a href="https://www.benzinga.com/25/01/43015316/taiwan-semiconductor-q4-earnings-preview-analysts-expect-fifth-straight-beat-will-investors-get-comments-on-trump-impact">potential benefits</a> from the new U.S. administration.
Meta Platforms Inc.
Meta Platforms saw a 3.85% increase, closing at $617.12. The stock hit an intraday high of $622.46 and a low of $606.50, with a 52-week range of $638.40 to $358.61. An internal memo revealed <a href="https://www.benzinga.com/media/25/01/42995912/meta-plans-to-cut-5-of-staff-backfill-roles-in-2025-says-internal-memo">plans for performance-based job cuts</a>, aiming for a 10% &#8220;non-regrettable attrition&#8221; rate by the end of the current performance cycle. This strategy involves classifying employees into performance tiers based on their contributions over the past year.
Intuitive Surgical Inc.
Intuitive Surgical&#8217;s shares jumped by 7.65%, closing at $580.11. The stock reached an intraday high of $584.60 and a low of $549.17, with a 52-week range of $584.60 to $355.17. The increase followed the company&#8217;s&nbsp;<a href="https://www.benzinga.com/news/earnings/25/01/43007218/why-intuitive-surgical-shares-are-surging-wednesday">preliminary fourth-quarter results</a>, which showed expected revenue of approximately $2.41 billion, surpassing analyst estimates of $2.2 billion. The company also reported a significant growth in da Vinci procedures and system placements.
Tesla, Inc.
Tesla&#8217;s stock rose by 8.04%, closing at $428.22. The day&#8217;s trading saw a high of $429.80 and a low of $405.66, with a 52-week range of $488.54 to $138.80. The rise was influenced by recent data from Kelley Blue Book ranking Tesla&#8217;s Model Y and Model 3 as the top-selling electric vehicles. Despite selling about 37,000 fewer cars in 2024 compared to 2023, Tesla <a href="https://www.benzinga.com/25/01/43014719/whats-going-on-with-tesla-shares-wednesday">maintained its lead</a> in the EV market, with increased competition noted as a factor.
Image via Shutterstock
Prepare for the day&#8217;s trading <a href="https://editorial.benzinga.com/wp-admin/Premarket%20Movers%20&amp;%20News">with top premarket movers and news</a> by Benzinga.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

ISRG

QUBT

Quantum Computing, Taiwan Semiconductor, Meta, Intuitive Surgical, And Tesla: Why These 5 Stocks Are On Investors' Radars Today

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly exploring new partnerships to take over from Goldman Sachs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) as its <a href="https://www.benzinga.com/government/24/10/41501333/apple-goldman-sachs-fined-89-million-over-apple-card-missteps-government-watchdog-orders-victim-comp">credit card partner</a>.
What Happened: The discussions with Barclays (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCS#NYSE">BCS</a>) have been ongoing for several months, but a deal may still take time to finalize, reported Reuters.
Apple has also engaged Synchrony Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYF#NYSE">SYF</a>) in discussions regarding the card partnership.
Apple, Barclays, and Synchrony did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga's</a> request for comments.
See Also: <a href="https://www.benzinga.com/25/01/42993561/is-openais-chatgpt-about-to-make-amazons-alexa-apples-siri-and-google-assistant-a-thing-of-the-past" target="_blank" rel="noreferrer noopener">Siri, Alexa And Google Assistant May Become A Thing Of The Past Thanks To ChatGPT Tasks — Here's How To Use The New Feature</a>
JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) has also been in <a href="https://www.benzinga.com/news/24/09/40907844/jpmorgan-in-talks-to-take-over-apple-credit-card-what-investors-need-to-know">talks with Apple since last year</a>.
Why It Matters: This discussion comes as Goldman Sachs, which launched the credit card with Apple in 2019, has decided to <a href="https://www.benzinga.com/news/23/10/35262321/goldman-sachs-wants-to-opt-out-of-consumer-lending-including-apple-card-general-motors-card">step back from its consumer finance</a> ambitions.&nbsp;
Goldman&#8217;s current credit card agreement with Apple is set to last until 2030, but it might conclude earlier.
Internal challenges and financial difficulties have prompted the bank to reevaluate its position in the consumer finance sector.
This strategic shift aligns with Goldman&#8217;s decision to transfer its General Motors credit card business to Barclays.
Several financial institutions are interested in partnering with Apple. However, some view the original deal terms as risky and unprofitable, the report noted.
Price Action: Apple&#8217;s shares rose 1.97% on Wednesday, closing at $237.87. In after-hours trading, they climbed an additional 0.31% to reach $238.60, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
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Disclaimer:&nbsp;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.

Media

Apple Eyes Barclays And Synchrony To Replace Goldman Sachs As Credit Card Partner: Report

Leading cryptocurrencies surged Wednesday amid softer-than-expected consumer inflation and a friendlier regulatory environment under Donald Trump.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+3.08%</td>
<td>$99,743.07</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+5.46%</td>
<td>$3,394.95</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+5.54%</td>
<td>$0.3787</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin topped the $100,000 mark for the first time in nearly 10 days as the leading cryptocurrency reacted to key bullish developments. 
While the latest Consumer Price Index data showed hints of slowing inflation, a report raised hopes for <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43008666/sec-under-trump-administration-to-revise-crypto-policies-report">clear cryptocurrency regulations under new SEC leadership</a>.&nbsp;
Ethereum, the second-largest cryptocurrency, reentered the $3.400 zone, hitting an intraday high of $3,465.
Over $350 million were liquidated from the cryptocurrency market in the last 24 hours, with 63% accounting for downside bets.
The market was getting overleveraged, and nearly $1 billion in longs risked liquidation if Bitcoin reversed to $93,000.&nbsp;
About 53% of Binance traders expected Bitcoin to correct, as the Long/Short ratio fell below 1.
The "Greed" sentiment increased from 70 to 75 in the last 24 hours, according to the Crypto Fear &amp; Greed Index, indicating a surge in buying pressure.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Virtuals Protocol (VIRTUAL)</td>
<td>+24.02%</td>
<td>$3.70</td>
</tr>
<tr>
<td>Fartcoin (FARTCOIN)</td>
<td>+23.04%</td>
<td>$1.26</td>
</tr>
<tr>
<td>XDC Network (XDC)</td>
<td>+19.26%</td>
<td>$0.1328</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.51 trillion, rising 4.37% in the last 24 hours.
Stocks lifted on Wednesday following the release of consumer inflation data. The Dow Jones Industrial Average popped 703.27 points, or 1.65%, to 43,221.55 The S&amp;P 500 lifted 1.83% to close at 5,949.91. The tech-heavy Nasdaq Composite erased losses from the previous day, surging 2.45% to 19,511.23.
December's Consumer Price Index report <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43001512/inflation-rises-to-29-in-december-core-slows-yet-rising-energy-costs-put-feds-target-at-risk">revealed core inflation grew slower than expected</a>, sparking excitement in the market and driving the stocks up. Notably, the headline Consumer Price Index matched analysts' expectations.
That said, investors expected the current interest rate range of 4.25%–4.50% to remain unchanged at the upcoming Federal Reserve meeting, <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">according </a>to the CME FedWatch tool.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Popular on-chain analytics firm CryptoQuant <a href="https://cryptoquant.com/insights/research/6786ce381001ca2735a9a73c-14-January-2025-2025-Bitcoin-Price-Outlook-Institutional-Flows-Could-Drive-Bitco">projected </a>Bitcoin to hit $145,000-$249,000 in 2025, spurred by substantial institutional capital flows.
A mixture of a positive regulatory environment under a pro-cryptocurrency Trump administration, "accommodative" monetary policy, and the fact that Bitcoin was in the most bullish phase of its 4-year cycle could accelerate momentum, according to the research firm.
Widely followed cryptocurrency trader Michaël van de Poppe predicted the market would shift from this point on as Bitcoin breaks $100,000 and Ethereum confirms a bullish divergence.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> above $100,000. Yields drop 3% on the day (15bps). <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> breaks back upwards and confirms the bullish divergence and higher low.<a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a> outperform Bitcoin. The rotation has started. <a href="https://t.co/Mvevi94sdX">pic.twitter.com/Mvevi94sdX</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1879623548534464876?ref_src=twsrc%5Etfw">January 15, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
"Dollar will become weaker, rates will go down, altcoins will go up," he remarked.&nbsp;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Now we're getting into the stage where markets are turning, Dollar will become weaker, rates will go down, <a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a> will go up. And people won't believe it.
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1879582423345959210?ref_src=twsrc%5Etfw">January 15, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo by CMP_NZ on Shutterstock
Read Next:    
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Bitcoin, Ethereum, Dogecoin Rally On Positive Inflation Data, Trump's Pro-Crypto Moves: Analyst Projects BTC Could Top $200K Range In 2025

In his farewell address from the Oval Office Wednesday night, President Joe Biden raised concerns about an emerging tech oligarchy and social media&#8217;s impact on American democracy, signaling potential regulatory headwinds for the technology sector.
Biden, who announced his withdrawal from the 2024 presidential race in July, warned that Americans face &#8220;an avalanche of misinformation&#8221; while social media platforms abandon fact-checking efforts. 
&#8220;I&#8217;m equally concerned about the potential rise of a tech industrial complex that could pose real dangers for our country,&#8221; Biden <a href="https://www.whitehouse.gov/live/">said</a>, suggesting increased scrutiny of social media companies may be forthcoming.
Biden highlighted his administration&#8217;s recent diplomatic achievement in brokering a ceasefire between Israel and Hamas. The deal, <a href="https://www.benzinga.com/news/global/25/01/43013312/defense-stocks-fall-on-gaza-ceasefire-while-broader-market-rallies-whats-going-on">finalized earlier Wednesday</a>, includes provisions for releasing American hostages in its first phase.
The 81-year-old President endorsed Vice President Kamala Harris as the Democratic Party&#8217;s presidential candidate. However, Harris ultimately lost the election to President-elect Donald Trump. 
In his endorsement, Biden emphasized the critical importance of preserving American institutions as the foundation of a free and democratic society.
Read Next: 
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<li><a href="https://www.benzinga.com/news/global/25/01/43013312/defense-stocks-fall-on-gaza-ceasefire-while-broader-market-rallies-whats-going-on">Defense Stocks Fall On Gaza Ceasefire While Broader Market Rallies: What&#8217;s Going On?</a></li>
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Image Via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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