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GCM Grosvenor

GCM Grosvenor Inc is a world-wide alternative asset management firm. It invests on behalf of clients who seek allocations to alternative investments, such as private equity, infrastructure, real estate, credit, ESG and absolute return strategies. The company's offerings include multi-manager portfolios as well as portfolios of direct investments and co-investments.

GCM Grosvenor Inc. - Class A Common Stock

GCM Grosvenor Inc

Zhu Hengpeng, a prominent economist at a top Chinese think tank, has reportedly been detained and stripped of his roles after allegedly criticizing President Xi Jinping&#8217;s economic policies.
What Happened: Zhu, who held the position of deputy director at the Institute of Economics at the state-run Chinese Academy of Social Sciences (CASS), is said to have made these comments in a private WeChat group chat. His remarks included subtle criticism of Xi and China&#8217;s struggling economy, <a href="https://www.wsj.com/world/china/top-economist-in-china-vanishes-after-private-wechat-comments-50dac0b1">reported</a> The Wall Street Journal.
The inquiry into Zhu&#8217;s supposed offenses coincides with Beijing&#8217;s intensified efforts to curb negative commentary on China&#8217;s economic health, which has been suffering due to a real estate downturn and tepid sentiment among consumers and businesses.
Zhu, an expert in health economics, was a significant commentator on such matters. He had been with the think tank for over two decades, providing advice to the government on policies related to hospital reforms and access to healthcare.
His name has since been taken off the online list of personnel at a think tank associated with Beijing&#8217;s esteemed Tsinghua University. The current status of the investigation into Zhu is unknown, as is whether he has legal representation.
The investigation coincided with a campaign to indoctrinate CASS staff, aimed at ensuring adherence to Communist Party rules. Zhu&#8217;s last known public appearance was in late April at an elder-care-industry conference organized by the Caixin financial news magazine.
See Also: <a href="https://www.benzinga.com/news/24/09/40973164/nba-star-shaquille-oneal-threw-tim-walz-out-from-his-big-chicken-restaurant-and-said-dont-come-back?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">NBA Star Shaquille O&#8217;Neal Threw Tim Walz Out From His Big Chicken Restaurant And Said, &#8216;Don&#8217;t Come Back&#8217; — Fact Or Fiction</a>
Why It Matters: This incident comes amidst a backdrop of mysterious disappearances of high-profile figures in China. For instance, <a href="https://www.benzinga.com/news/23/07/33383339/xi-jinping-brings-back-wang-yi-as-foreign-minister-a-month-after-qin-gangs-mysterious-absence">Wang Yi</a>, who served as China's top diplomat from 2013 to 2018, returned to his role as China's Foreign Minister a month after the former foreign minister Qin Gang vanished from public view. The disappearance of Zhu, therefore, adds to the growing concern about the suppression of dissent in China.
China&#8217;s Defence Minister Li Shangfu also disappeared amidst corruption investigations, with Li last seen on Aug. 29, 2023,. Former Industry Minister Xiao Yaqing and ex-Rocket Force leaders Li Yuchao and Xu Zhongbo also vanished in 2022 and 2023, likely linked to probes into corruption or political misconduct, reported Reuters.
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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>

News

General

Chinese Economist Vanishes After Criticizing Xi Jinping on WeChat, Name Removed from Prestigious Beijing University Think Tank

The Qingyun L540 laptop, a product of&nbsp;Huawei Technologies, is a testament to China&#8217;s progress towards technological self-sufficiency, featuring&nbsp;a self-designed processor and a&nbsp;Chinese-made operating system.
What Happened: The Qingyun L540 laptop is a prime example of China&#8217;s push for tech independence. The laptop, which is being widely adopted by government and state groups, is a part of China&#8217;s localization campaign, Xinchuang, <a href="https://www.ft.com/content/5511d73a-1ada-4884-a559-681502300e4f">reported</a> Financial Times.
China&#8217;s quest for a domestic tech supply chain has been a long-standing goal, with a particular focus on semiconductors. The embargoes on high-tech goods by Washington have further motivated Beijing to intensify its efforts.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/40998105/marques-brownlee-reviews-apples-iphone-16-and-launches-new-app-this-is-the-most-unfinished-ive-ever?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Marques Brownlee Reviews Apple&#8217;s iPhone 16 And Launches New App: &#8216;This Is The Most Unfinished I&#8217;ve Ever Seen A New iPhone Launch&#8217;</a>
Since&nbsp;March, central agencies have transitioned&nbsp;from exclusively purchasing laptops running&nbsp;on Intel and AMD processors&nbsp;to&nbsp;acquiring three-quarters of their devices&nbsp;with chips from Chinese companies.
This includes companies like Huawei, Shanghai Zhaoxin, and Phytium, the report noted.
The Qingyun L540 laptop also runs&nbsp;on the Chinese-made Unity Operating&nbsp;System, based on Linux, and all of its&nbsp;applications are made in China.
However, the laptop still relies on some foreign technology, indicating the challenges that lie ahead for China&#8217;s tech independence campaign.
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: The push for tech autonomy in China has been a response to the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40078235/biden-rule-on-semiconductor-exports-to-china-is-huge-positive-for-chip-sector-suppl">U.S. restrictions on semiconductor</a> exports to China.
In May this year, the Chinese government announced <a href="https://www.benzinga.com/news/24/05/39110209/chinas-decapitated-chip-sector-is-thrown-50b-lifeline">a $47.5 billion public fund</a> aimed at fueling the country&#8217;s self-reliance in manufacturing advanced chips.
Earlier, Chinese President&nbsp;Xi Jinping&nbsp;also urged for increased R&amp;D in semiconductors, machine tools, and foundational software, stating that they form the &#8220;technological backbone for independent, secure&nbsp;and controllable supply chains.&#8221;
Earlier this month, an analysis of China's semiconductor technology shows it is <a href="https://www.benzinga.com/news/24/09/40671027/tsmc-tech-only-3-years-ahead-of-chinas-progress-shows-analysis-us-export-restrictions-have-minimal-i">just three years behind</a> Taiwan Semiconductor Mfg. Co. Ltd.
In the first half of 2024, <a href="https://www.benzinga.com/markets/asia/24/09/40697855/chinas-chipmaking-investments-top-us-taiwan-south-korea-combined-what-it-means-for-nvidia-asml">China invested $25 billion</a> in chipmaking equipment, surpassing the combined spending of South Korea, Taiwan, and the U.S.
Meanwhile, Huawei has received much praise for launching the world's first tri-fold smartphone, the Mate XT.
Although the smartphone is expensive at the price range of $2,800 to $3,371, it has been giving <a href="https://www.benzinga.com/news/24/09/40845772/huaweis-2-800-tri-fold-phone-has-the-potential-to-eat-apples-lunch-in-china-here-is-how-it-compares">tough competition</a> to Apple in China.
Image via Shutterstock
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Global

Tech

Media

Huawei, Riding High On Trifold Success, Launches Revolutionary Laptop Powered By Homegrown Chips, Software — China Ready To Break Free From US Tech Dependence?

Leading cryptocurrencies surged on Tuesday, matching the upswing in the stock market, as investors' confidence in risky asset classes grew.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:30 p.m. EDT)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+2.56%</td>
<td>$64,439.73</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>+1.21%</td>
<td>$2,652.72</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>+3.21%</td>
<td>$0.1106</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin, the market bellwether, swung to highs of $64,700 Tuesday overnight, a level unseen since Aug. 2. The leading cryptocurrency trended upward throughout U.S. trading hours.&nbsp;
Ethereum continued to chop in the $2,600 zone, awaiting a decisive breakout to the $2,700 region. That said, the second-largest cryptocurrency has outperformed Bitcoin in returns since the Federal Reserve's aggressive rate cut last week.
Total cryptocurrency liquidations reached $111 million in the last 24 hours, with $71 million in downside bets getting wiped out.
The rally resulted in a 3% spike in Bitcoin's Open Interest, signaling high speculative interest for the apex digital coin.
Additionally, traders longing Bitcoin outnumbered those anticipating a decline in its price, as the Long/Short Ratio went past 1.
The market sentiment remained "Neutral," according to the popular Cryptocurrency Fear &amp; Greed Index, signaling a balance between market forces.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:30 p.m. EDT)</td>
</tr>
<tr>
<td>Sei (SEI)</td>
<td>+30.17%</td>
<td>$0.4734</td>
</tr>
<tr>
<td>dogwifhat (WIF)</td>
<td>+20.17%</td>
<td>$2.05</td>
</tr>
<tr>
<td>Popcat (POPCAT)</td>
<td>+17.34%</td>
<td>$1.06</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market stood at $2.26 trillion, following an increase of&nbsp; 2.30% in the last 24 hours.
Stocks recorded their second straight day of upswing. The Dow Jones Industrial Average gained 83.57 points, or 0.20%, to close at 42,208.22, while the S&amp;P 500 gained 0.25% to end at 5,732.93. Both the blue-chip indexes closed at record highs. The tech-heavy Nasdaq Composite rose 0.56% to close at&nbsp; 18,074.52.
The rally came after shares of AI powerhouse NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) popped nearly 4% on reports that CEO Jensen Huang <a href="https://www.benzinga.com/news/24/09/41010963/nvidia-stock-is-ripping-higher-tuesday-whats-going-on">has completed selling company stock</a> under a trading plan.
The Fed's 50 basis point rate cut has energized the market, with the Dow up 1.55% since September began and the S&amp;P 500 rising 1.49%.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Contrary to expectations, widely followed cryptocurrency trader Nagato forecast a "blow-off top" for the market in the fourth quarter of 2024.
"If you think what's coming in the next few months will be even slightly comparable to the run-up we had in Q1 2024, you've been successfully brainwashed," the analyst warned.&nbsp;
Nagato added that the upcoming quarter will be a "true crypto bubble."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If you think what's coming in the next few months will be even slightly comparable to the run-up we had in Q1 2024, you've been successfully brainwashed. Q1 2024 was a minor pump, mostly fueled by crypto enthusiasts excited about $BTC's new ATH, ETFs, and the halving. Q4 2024…
&mdash; Nagato 
</blockquote></div></figure>

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

Cryptocurrency

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$BTC

$DOGE

$ETH

NVDA

Bitcoin, Ethereum, Dogecoin Mirror Nvidia-Powered Stocks Rally: Analyst Makes This Unexpected Forecast About Crypto Performance In Q4

Hitachi Rail subsidiary of Hitachi (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HTHIF#OTC">HTHIF</a>)&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/HTHIY#OTC">HTHIY</a>) has announced the integration of NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) technology to enhance its railway operations, aiming to reduce maintenance costs and <a href="https://www.benzinga.com/news/24/09/41010963/nvidia-stock-is-ripping-higher-tuesday-whats-going-on">improve transit reliability</a>.
What Happened: Hitachi Rail, a global leader in transportation, is adopting Nvidia technology to enhance railway operations, reduce maintenance costs, and improve transit reliability, the company said in a news release on Monday.
The company is incorporating the NVIDIA IGX platform into its HMAX system to process sensor and camera data in real time. This integration aims to expedite the detection of track issues, monitor power line degradation, and assess the health of trains and signaling equipment.
Hitachi Rail estimates that proactive maintenance is seven times less costly than emergency repairs. The company's existing AI systems have already reduced service delays by up to 20% and maintenance costs by up to 15%, while cutting energy consumption by up to 40%, according to Nvidia&#8217;s blog post.
Koji Agatsuma, Executive Director and CTO of Rail Vehicles at Hitachi Rail stated, &#8220;Using previous digital monitoring systems, it would take a few days to process the data and discover issues that need attention. If we can instead conduct real-time prediction using NVIDIA technology, that enables us to avoid service disruptions and significantly improve safety, reliability, and operating costs.&#8221;
The new AI applications, developed using NVIDIA AI Enterprise software, will be available through the HMAX platform. These tools will help operators monitor train fleets and infrastructure more efficiently, providing timely alerts and optimizing maintenance schedules.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40973101/bitcoin-ethereum-rise-dogecoin-slips-as-market-reacts-to-harris-crypto-mention-analyst-bel?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum Rise, Dogecoin Slips As Market Reacts To Harris&#8217; Crypto Mention: Analyst Believes It&#8217;ll Be &#8216;Game Over&#8217; For Bears If King Crypto Breaches $64K</a>
Why It Matters: The integration of Nvidia technology into Hitachi Rail&#8217;s operations is part of a broader trend of AI adoption in various industries. Recently, Nvidia&#8217;s stock surged following reports that CEO Jensen Huang had completed selling company shares under a <a href="https://www.benzinga.com/news/24/09/41010963/nvidia-stock-is-ripping-higher-tuesday-whats-going-on">trading plan earlier than expected</a>.
Moreover, Nvidia has been actively expanding its <a href="https://www.benzinga.com/markets/asia/24/09/41005816/alibaba-partners-with-nvidia-to-advance-ai-autonomous-driving-chart-indicates-positive-momentum">AI capabilities through strategic partnerships</a>. For instance, Alibaba Group Holdings recently teamed up with Nvidia to enhance AI and autonomous driving technologies. 
Price Action: Nvidia&#8217;s stock closed at $120.87 on Tuesday, up 3.97% for the day. In after-hours trading, the stock continued to rise, up 0.76%. Year to date, Nvidia has surged by 150.92%. 
Meanwhile, Hitachi&#8217;s stock on the Japanese exchange is trading at 3,824 JPY, down 0.83%. Despite the day&#8217;s decline, Hitachi&#8217;s stock has risen by 88.00% year to date, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
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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/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Asia

Equities

HTHIF

HTHIY

Nvidia's AI Tech Hits The Tracks: Hitachi Rail Taps Into Real-Time Maintenance To Boost Reliability, Slash Costs

Movie actor Robert De Niro spoke out against former President Donald Trump at a recent film premiere, continuing his criticism of Trump ahead of the<a href="https://www.benzinga.com/topic/2024-election"> 2024 presidential election.</a>
What Happened: While most attention of the "Megalopolis" was on director Francis Ford Coppola's<a href="https://www.benzinga.com/general/entertainment/24/05/38879419/francis-ford-coppola-spent-120m-self-financing-passion-project-what-the-gambit-could-mean-f"> self-financed film</a>, actor De Niro couldn't help but draw parallels from the film's content and the current state of politics.
The film hits on themes like the decline of civilizations and the rise of dictators, as reported by Deadline.
"I see the things in Francis' film about that, the parallels and so on. To me it's not over ‘till it's over and we have to go at this wholeheartedly to beat the Republicans – those Republicans, they're not real Republicans – and beat Trump," De Niro said.
De Niro said the movie shows that we can't have certain "types of people" in leadership roles.
"Everybody has to get out there and vote."
During the Q&amp;A session before the film screening at the AMC Lincoln Square Imax in New York, De Niro offered a comparison to Trump in the film industry.
"Just imagine Donald Trump directing this film. It'll never go anywhere, from total craziness. He cannot do anything. He cannot hold anything together … He wants to destroy the country. And he could not do this movie. He could not do anything that has a structure."
Coppola told the audience that he cast certain actors who "are voting another way" on purpose in the film. Coppola said it's important to note that people can disagree on a film.
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Why It's Important: De Niro has been one of the most vocal critics of Trump in recent years. The actor appeared outside the New York courtroom during Trump's hush money trial where he <a href="https://www.benzinga.com/general/entertainment/24/05/39050714/robert-de-niro-speaks-outside-trump-trial-clashes-with-protestors-former-president-wants-to">clashed with Trump supporters.</a>
"Megalopolis" opens in theaters on Sept. 27 and is being distributed by Lions Gate Entertainment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LGF#NYSE">LGF</a>)(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LGF#NYSE">LGF</a>) in the United States.
Photo Courtesy:Tinseltown On Shutterstock.com
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</ul>

Entertainment

Politics

De Niro Draws Parallels to 'Megalopolis' Movie And Why 2024 Election Is So Important To Defeat Trump: 'Everybody Has To Get Out There And Vote'

On Tuesday, major U.S. indices closed higher, with the Dow Jones Industrial Average gaining 0.2% to reach 42,208.22, the S&amp;P 500 rising 0.25% to 5,732.93, and the Nasdaq climbing 0.6% to 18,074.52.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)
NVIDIA shares surged by 3.97% to close at $120.87. The stock&#8217;s intraday high and low were $121.8 and $115.38 respectively, with a 52-week range of $140.76 &#8211; $39.23. The uptick followed reports that CEO Jensen Huang had <a href="https://www.benzinga.com/news/24/09/41010963/nvidia-stock-is-ripping-higher-tuesday-whats-going-on">completed selling company stock</a> under a trading plan several months early.
Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>)
Alibaba shares rose by 7.88% to close at $97.19 after China's central bank announced plans to slash banks' reserve requirement ratio. The stock&#8217;s intraday high and low were $97.5 and $94.4 respectively, with a 52-week range of $97.5 &#8211; $66.63. The company&#8217;s shares rose after China&#8217;s central bank announced a 50 basis point cut to banks&#8217; reserve requirement ratio, <a href="https://www.benzinga.com/government/24/09/41004045/whats-going-on-with-chinese-stocks-alibaba-nio-xpeng-li-auto-on-tuesday">signaling potential economic support</a> and boosting investor confidence in Chinese tech stocks.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40971260/trumps-historic-bitcoin-transaction-ethereum-co-founder-backs-trump-over-harris-for-crypto?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Historic Bitcoin Transaction, Ethereum Co-Founder Backs Trump Over Harris For Crypto, Gamestop Customer&#8217;s Bitcoin Windfall, And More: This Week In Cryptocurrency</a>
Capricor Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAPR#NASDAQ">CAPR</a>)
Capricor shares soared by 52.43% to close at $9.10 following the company&#8217;s announcement of intent to <a href="https://www.benzinga.com/news/24/09/41005497/why-capricor-therapeutics-stock-is-soaring-tuesday">file a biologics license application</a> for the full approval of Deramiocel. The stock&#8217;s intraday high and low were $9.24 and $7.42 respectively, with a 52-week range of $9.24 &#8211; $2.68. 
Taiwan Semiconductor Manufacturing Company Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>)
Taiwan Semi shares climbed by 4.13% to close at $181.97 after the company secured an additional $7.5 billion infusion into its Arizona unit. The stock&#8217;s intraday high and low were $182.78 and $177.05 respectively, with a 52-week range of $193.47 &#8211; $84.02. TSMC shares rose after the company secured government approval for an <a href="https://www.benzinga.com/government/24/09/41007184/taiwan-semi-secures-7-5b-boost-for-arizona-expansion-aims-for-advanced-chip-production-report">additional $7.5 billion investment</a> into its Arizona unit, bolstering its U.S. expansion efforts and investor confidence.
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla shares rose by 1.71% to close at $254.27. The stock&#8217;s intraday high and low were $257.19 and $249.05 respectively, with a 52-week range of $271 &#8211; $138.8. The surge was fueled by optimism concerning third-quarter deliveries outperformance. Meanwhile, Gary Black <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40995280/tesla-bull-dampens-enthusiasm-regarding-1010-robotaxi-event-but-heres-what-would-ta">expressed skepticism</a> about the Oct. 10 Robotaxi event being a major catalyst, the fund manager emphasized potential growth from a sub-$30K compact car launch.
Photo by WHYFRAME on Shutterstock
Prepare for the day&#8217;s trading <a href=""Premarket">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>

BABA

CAPR

TSLA

Nvidia, Alibaba, Capricor Therapeutics, TSMC, Tesla: Why These 5 Stocks Are On Investors' Radars Today

On Tuesday, former House Speaker Nancy Pelosi (D-Calif.) took to X to redirect public attention away from political mudslinging. Her post comes amidst a contentious presidential race in which the Democrat Kamala Harris is pitched against the Republican Donald Trump.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Don't be distracted by what's-his-name's insults and conspiracies — focus on what matters to the American people: a vote for a better future, a peaceful transfer of power and an agenda that uplifts working families. <a href="https://twitter.com/hashtag/DumpTrumpsProject2025?src=hash&amp;ref_src=twsrc%5Etfw">#DumpTrumpsProject2025</a> — elect <a href="https://twitter.com/KamalaHarris?ref_src=twsrc%5Etfw">@KamalaHarris</a> and Democrats! -NP <a href="https://t.co/Y6ojXQAklz">pic.twitter.com/Y6ojXQAklz</a>
&mdash; Nancy Pelosi (@TeamPelosi) <a href="https://twitter.com/TeamPelosi/status/1838726585027039308?ref_src=twsrc%5Etfw">September 24, 2024</a></blockquote>
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Pelosi said about Trump, &#8220;Don't be distracted by what's-his-name's insults and conspiracies.&#8221; She urged voters to instead focus on &#8220;what matters.&#8221; She asked them to vote for Harris and Democrats in the elections. Pelosi also attached a video to her post in which she reacted to a comment by the current House Speaker Mike Johnson (R-La.). The incumbent was quoted as saying, &#8220;If we have a free, fair and safe election, we&#8217;re going to follow the Constitution absolutely.&#8221;
Pelosi asked, &#8220;Why should there be a caveat?&#8221; — She said, &#8220;He&#8217;s trying again to wed himself to this fake conspiracy theory about the election.&#8221;
Earlier this month, Pelosi had called for unity and civility in the country, stating, "It's necessary for our country for us to move in a unifying direction. We have to take our country back to a place that you can disagree without being fearful for your life."
See Also: <a href="https://www.benzinga.com/news/24/09/40950674/data-scientist-who-called-2020-election-correctly-says-its-gone-from-drastic-landslide-in-trumps-dir?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Data Scientist Who Called 2020 Election Correctly Says Its Gone From &#8216;Drastic Landslide In Trump&#8217;s Direction To A drastic landslide For Harris&#8217;</a>
Why It Matters: Pelosi&#8217;s tweet is significant given her <a href="https://www.benzinga.com/general/politics/24/07/39844101/pelosi-tells-biden-he-cant-beat-trump-shell-do-everything-in-her-power-to-prevent-2024-run">previous stance</a> on the 2024 presidential race. She had been vocal about her doubts regarding President Joe Biden&#8217;s ability to win against Trump, and had pledged to do <a href="https://www.benzinga.com/news/24/09/40670139/nancy-pelosi-the-only-responsibility-i-will-take-for-donald-trump-is-to-make-sure-hes-not-reelected">everything in her power</a> to prevent a victory for the ex-president Trump.
With less than 50 days to go until the 2024 presidential election, Vice President Kamala Harris continues to lead former President Trump in a <a href="https://www.benzinga.com/general/politics/24/09/41016272/harris-vs-trump-2024-election-poll-shows-good-bad-news-for-each-candidate">head-to-head poll</a> of likely voters. 
Recent <a href="https://www.benzinga.com/news/24/09/40969584/trump-vs-harris-this-candidate-has-the-edge-in-latest-swing-state-polls">polling data</a> reveals a neck-and-neck contest between Harris and Trump, with a slight advantage for Harris. This context adds weight to Pelosi&#8217;s call for focus on the issues that matter to the American people, rather than on political insults and conspiracies.
Image via Flickr/ Gage Skidmore
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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>

Nancy Pelosi Says, 'Don't Be Distracted By What's-His-Name's Insults And Conspiracies' — Asks Voters To Choose Kamala Harris Instead

An Israeli airstrike in Beirut has led to the death of a senior Hezbollah commander, intensifying fears of a full-scale war in the Middle East. The incident has triggered a rise in cross-border rocket attacks and Lebanon is now seeking U.S. intervention.
What Happened: The Israeli airstrike on Tuesday claimed the life of senior Hezbollah commander Ibrahim Qubaisi. The attack has heightened fears of a full-blown war in the Middle East, with Lebanon&#8217;s Health Minister Firass Abiad reporting 569 deaths, including 50 children, and 1,835 wounded since Monday, reported Reuters.
The U.N. Security Council is scheduled to discuss the conflict on Wednesday. U.N. Secretary-General Antonio Guterres warned, &#8220;Lebanon is at the brink. The people of Lebanon – the people of Israel – and the people of the world &#8211; cannot afford Lebanon to become another Gaza.&#8221;
President Joe Biden called for calm at the U.N. General Assembly, stating, &#8220;Full-scale war is not in anyone&#8217;s interest. Even if a situation has escalated, a diplomatic solution is still possible.&#8221;
However, Lebanon&#8217;s Foreign Minister Abdallah Bou Habib criticized Biden&#8217;s address as &#8220;not strong, not promising&#8221; and emphasized that the U.S., as Israel&#8217;s longtime ally and biggest arms supplier, is the only country &#8220;that can really make a difference in the Middle East and with regard to Lebanon.&#8221;
Meanwhile, displaced people in Beirut are seeking shelter in schools and other buildings, with volunteers providing essential supplies. An Israeli strike also hit the seaside town of Jiyyeh, 75 km north of the border with Israel, early on Wednesday.
See Also: <a href="https://www.benzinga.com/news/24/09/40973164/nba-star-shaquille-oneal-threw-tim-walz-out-from-his-big-chicken-restaurant-and-said-dont-come-back?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">NBA Star Shaquille O&#8217;Neal Threw Tim Walz Out From His Big Chicken Restaurant And Said, &#8216;Don&#8217;t Come Back&#8217;</a>
Why It Matters: The recent airstrike follows a series of <a href="https://www.benzinga.com/government/24/09/40986207/israel-carries-out-air-assaults-on-hezbollah-in-southern-lebanon">attacks</a> on Hezbollah targets in southern Lebanon, which have killed hundreds and escalated hostilities between Israel and Hezbollah. 
The U.S. had previously <a href="https://www.benzinga.com/news/24/09/40977597/us-warns-israel-against-opening-a-full-blown-war-against-hezbollah-as-air-strikes-kill-30-in-lebanon">warned</a> Israel against escalating the conflict, emphasizing the potential risks of a full-scale land war. The situation in Lebanon has been tense, with a series of <a href="https://www.benzinga.com/news/24/09/40924166/hezbollah-hit-in-new-round-of-explosions-across-lebanon-casualties-climb">explosions</a> targeting Hezbollah operatives.
 Iran&#8217;s President has <a href="https://www.benzinga.com/news/24/09/40993833/irans-president-says-we-dont-want-to-fight-but-israel-wants-to-drag-everyone-into-war-and-destabiliz">accused</a> Israel of escalating the conflict and destabilizing the region.
Photo via Shutterstock.
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</ul>

Biden's Speech 'Not Strong, Not Promising' Says Lebanon's Foreign Minister: US Is The Only Country That Can 'Really Make A Difference In The Middle East'

The Federal Aviation Administration has defended its decision to delay a SpaceX launch, citing <a href="https://www.benzinga.com/news/24/09/40956691/spacex-ceo-elon-musk-rains-criticism-at-wrong-person-in-his-ongoing-tirade-against-faa">safety concerns and regulatory compliance</a>.
What Happened: FAA Administrator Mike Whitaker addressed House Transportation Committee lawmakers, explaining that SpaceX did not adhere to permitting and licensing requirements. This comes after Elon Musk criticized the FAA's regulations as obstructive, <a href="https://www.politico.com/news/2024/09/24/spacex-rocket-launch-delay-faa-00180730">reported</a> Politico on Tuesday.
"The delay of the Starship has to do with SpaceX filing an application and not disclosing if [they] were in violation of Texas, and federal, law on some matters — and that's a requirement to get a permit," Whitaker said.
Whitaker defended the proposed $633,000 fine against SpaceX for conducting two launches in 2023 without approved plans. He emphasized that the fine is the FAA's primary tool to ensure compliance.
The FAA has postponed SpaceX's fifth test launch of its Starship megarocket to November, citing the need for updated environmental analysis and compliance with launch license procedures. This delay is partly due to the potential impact of a sonic boom on wildlife near the Boca Chica, Texas, launch site.
Rep. Kevin Kiley (R-Calif.) questioned whether the FAA's scrutiny was excessive and stifling innovation. Whitaker maintained that the sonic boom analysis is a safety issue and necessary for compliance.
Whitaker suggested that SpaceX adopt a safety management system similar to those used by airlines and manufacturers like Boeing. He reiterated that all companies should have the same oversight and safety measures.
Last week, Musk announced plans to take his grievances to Congress, arguing that the FAA's actions were unwarranted and unrelated to safety. SpaceX's lawyer, David Harris, also contested the FAA's claims in a letter to congressional leaders.
See Also: <a href="https://www.benzinga.com/news/24/09/40976555/elon-musk-shares-it-takes-multiple-fish-licenses-to-launch-a-rocket-i-dont-think-the-public-is-quite?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Shares It Takes &#8216;Multiple Fish Licenses&#8217; To Launch A Rocket: &#8216;I Don&#8217;t Think The Public Is Quite Aware Of The Madness That Goes On,&#8217; Says SpaceX CEO</a>
Why It Matters: The conflict between Musk and the FAA has been escalating. On Friday, Musk criticized the FAA, targeting Polly Trottenberg for her <a href="https://www.benzinga.com/news/24/09/40956691/spacex-ceo-elon-musk-rains-criticism-at-wrong-person-in-his-ongoing-tirade-against-faa">lack of aviation background</a>, though she was not the acting administrator. 
This followed Musk&#8217;s earlier accusations on Wednesday, where he claimed the FAA&#8217;s proposed fine on SpaceX was over &#8220;nonsense&#8221; that did not impact safety, contrasting it with Boeing's lack of penalties despite safety concerns.
On Thursday, Musk further criticized the FAA for focusing on &#8220;petty matters&#8221; regarding SpaceX while <a href="https://www.benzinga.com/markets/equities/24/09/40951122/elon-musk-blasts-faa-for-targeting-spacex-over-petty-matters-while-ignoring-boeings-safety-issue">ignoring significant safety issues</a> at Boeing. He argued that this misallocation of resources jeopardizes human lives. 
Musk&#8217;s letter to Congress highlighted the FAA&#8217;s inability to keep pace with the commercial spaceflight industry, addressing key members of Congress, including Rep.&nbsp;Frank Lucas&nbsp;(R-Okla.) and Sen.&nbsp;Ted Cruz&nbsp;(R-Texas).
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/09/40968413/elon-musk-reacts-after-cathie-wood-labels-gavin-newsoms-threat-to-sue-tesla-ceo-over-memes-unconstit?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts After Cathie Wood Labels Gavin Newsom&#8217;s Threat To Sue Tesla CEO Over Memes &#8216;Unconstitutional&#8217;: &#8216;…But That Didn&#8217;t Stop Them&#8217;</a></li>
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Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

SPACE

Legal

SpaceX In Violation Of Texas, Federal Law On Some Matters, Says FAA — Agency Hits Back At Elon Musk's Rocket Company

Billionaire investor and television celebrity Mark Cuban welcomed SEC Chair Gary Gensler&#8217;s intense grilling by legislators on his stance on cryptocurrencies, confirming that the Kamala Harris campaign was against &#8220;regulation through litigation.&#8221;
What Happened: On Tuesday, Cuban posted a video on X where Gensler was cross-examined by Rep.&nbsp;Ritchie Torres&nbsp;(D-N.Y.)&nbsp;at the House Financial Services Committee hearing. 
In the video, the Democratic Congressman asked the SEC&#8217;s top executive if there is a distinction between buying a Yankees ticket that granted access to a sporting event and buying a non-fungible token (NFT) that gave access to an animated web series as per Federal securities regulations. Gensler didn&#8217;t give a clear answer to the question. 
Responding to this, Cuban said that Gensler&#8217;s days at the SEC are numbered and his exit would result in a potential boost in GDP growth.
Cuban, who is also part of the Democratic-leaning <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40385566/mark-cuban-gets-an-assurance-out-of-chuck-schumer-will-pass-sensible-and-long-lasting-cryp">pro-cryptocurrency lobby</a>, revealed that the Harris campaign was vehemently against "regulation through litigation," something which Gensler has been accused of doing.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I talked to the Harris team today who told me in no uncertain terms that they are against "regulation through litigation " CYA Gensler. You leaving is worth a point in GDP growth <a href="https://t.co/NbPd4RQSBF">https://t.co/NbPd4RQSBF</a>
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1838667484905578704?ref_src=twsrc%5Etfw">September 24, 2024</a></blockquote>
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A long-time critic of Gensler, Cuban also referred to the SEC Chairman as a &#8220;blight on the technology community,&#8221; raising concerns about the Howey Test&#8217;s applicability in initiating enforcement actions against cryptocurrency entities.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Gary Gensler is a blight on the technology community. He says Howey is the law of the land. If it was, there never would be a reason for Reves vs Ernst &amp;Young to exist <a href="https://t.co/QebV6xb3uy">https://t.co/QebV6xb3uy</a>
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1838604919105855756?ref_src=twsrc%5Etfw">September 24, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41012993/sec-charges-trusttoken-and-truecoin-with-fraud-and-unregistered-securities-offering-in-sta">SEC Charges TrustToken And TrueCoin With Fraud And Unregistered Securities Offering In Stablecoin Case</a>
Why It Matters: Cuban&#8217;s remarks reflected ongoing criticism of the SEC&#8217;s approach to cryptocurrency regulation. 
Previously, Torres raised <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40952899/gary-gensler-led-sec-invented-the-term-digital-asset-security-out-of-thin-air-says-democra">concerns over the usage of the term "digital asset security"</a> by the SEC, accusing the agency of inventing the term &#8220;out of thin air.&#8221; 
Pro-cryptocurrency SEC Commissioner Hester Peirce <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41009150/gary-gensler-led-sec-moved-forward-with-enforcing-crypto-regulation-despite-legal-problems">admitted that the agency proceeded with regulatory actions</a> against cryptocurrency companies despite potential legal implications. This approach, she noted, was detrimental to the SEC&#8217;s institutional integrity.
Image via Shutterstock
Image via Flickr/ Gage Skidmore
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41012444/crypto-expert-tells-anthony-scaramucci-that-gold-and-bitcoin-are-safeguards-against-curren">Crypto Expert Tells Anthony Scaramucci That Gold And Bitcoin Are Safeguards Against Currency Debasement</a></li>
</ul>

Regulations

Mark Cuban Calls Gary Gensler A 'Blight' After SEC Chair Gets Grilled On Crypto By Congress: 'You Leaving Is Worth A Point In GDP Growth'

On Tuesday, an executive from the cybersecurity firm CrowdStrike Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) faced questioning from House lawmakers regarding a global technology <a href="https://www.benzinga.com/markets/equities/24/07/39854612/windows-pcs-crash-worldwide-with-users-experiencing-blue-screen-of-death-issue-crowdstrike-updat">outage that occurred in July</a>.
What Happened: Adam Meyers, senior vice president of CrowdStrike, expressed his company&#8217;s regret for the incident that disrupted thousands of flights and various industries.
&#8220;We are deeply sorry this happened and are determined to prevent it from happening again,&#8221; Meyers stated during his opening remarks, <a href="https://thehill.com/homenews/house/4897374-crowdstrike-executive-testifies-outage/">reported</a> The Hill.
The hearing, held by the House Homeland Security Subcommittee on Cybersecurity and Infrastructure, was the first to address the July 19 update mishap by CrowdStrike.
The faulty update crashed computers running Microsoft Corporation&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Windows software, leading <a href="https://www.benzinga.com/news/24/07/39870321/tesla-ceo-elon-musk-blasts-satya-nadella-after-microsoft-crowdstrike-issue-takes-down-millions-of-co">to a global outage</a>.
See Also: <a href="https://www.benzinga.com/news/24/09/40911877/jeff-bezos-had-a-habit-of-keeping-an-empty-chair-for-the-most-important-person-in-the-room-at-compan?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jeff Bezos Had A Habit Of Keeping An Empty Chair For The Most Important Person In The Room At Company Meetings: This Strategy Helped The Amazon Founder Build The E-Commerce Giant We Know Today</a>
During the questioning, Meyers stated that the outage was not a result of a cyberattack but was caused by a rapid response content update from CrowdStrike.
&#8220;I can assure you that we will take the lessons learned from this incident and use them to inform our work as we improve for the future,&#8221; he said.
Homeland Security Committee Chair Rep. Mark Green (R-Tenn.) raised the pressing issue of artificial intelligence, questioning the executive responsible for approving the update and whether AI was involved in the decision, the report noted.
In response, Meyers said that AI had no role in the decision-making process, explaining that the update was one of 10 to 12 released daily by the company.
He added that the firm has stopped deploying updates to all customers simultaneously to prevent a recurrence of the issue.
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.
Why It Matters: The global IT outage, attributed to a software update from CrowdStrike, was described as the "<a href="https://www.benzinga.com/news/24/07/39870313/microsoft-crowdstrike-issue-caused-largest-it-outage-in-history-showing-how-much-we-depend-on-a-hand">largest IT outage in history</a>,&#8221; impacting computer systems running on the Windows operating system and cloud services.
The incident affected businesses worldwide, including airlines, banks, media, and even 911 services.
Following the outage, Delta Air Lines, Inc. disclosed that it expects the operational disruptions to have a direct revenue <a href="https://www.benzinga.com/markets/equities/24/08/40279069/delta-bleeds-money-after-tech-disaster-pursues-legal-claims-against-crowdstrike-and-microsoft">impact of $380 million</a> for the September quarter due to flight cancellations and customer compensation.
Microsoft pointed the finger at Delta for its extended recovery from the outage, stating that the airline's lack of IT modernization contributed to the prolonged recovery.
Delta defended its IT infrastructure, stating it has invested billions in IT capital expenditures since 2016.
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:
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<li><a href="https://www.benzinga.com/news/24/09/40897716/elon-musk-reacts-after-mark-cuban-says-he-would-buy-x-in-a-heartbeat?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts After Mark Cuban Says He Would Buy X &#8216;In A Heartbeat&#8217;</a></li>
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

CRWD

MSFT

CrowdStrike Executive Struck By Regret In House Hearing, Says Company Determined To Prevent Instances Like Microsoft Outage From Repeating: 'Deeply Sorry This Happened'

House Speaker Mike Johnson (R-La.) has said that the House will not pass a substantial bill to fund the government in December.
What Happened: Johnson made this revelation during a press conference on Tuesday, echoing a message he had previously shared privately in a House GOP conference meeting, <a href="https://thehill.com/homenews/house/4896433-mike-johnson-december-omnibus/">reported</a> The Hill.
&#8220;There won't be a Christmas omnibus,&#8221; said the House Speaker at the presser.
Despite the expectation of a stopgap to clear the House this week, set to expire on Dec. 20, Johnson is firm that there will be no Christmas omnibus. This marks a significant shift from historical norms, as Congress has frequently passed omnibus spending bills when funding deadlines align with year-end holidays.
Johnson&#8217;s promise is viewed as a daring move, considering his struggles to rally the slim House GOP majority behind a successful strategy to pressure the Democratic-controlled Senate and White House on spending.
The House is scheduled to vote on a continuing resolution (CR) to extend government funding until Dec. 20 on Wednesday, aiming to avoid a government shutdown on Oct. 1. Despite opposition from many conservatives, the bill is predicted to pass with Democratic support.
Johnson also ruled out the possibility of other large funding legislation packages, such as &#8220;minibuses&#8221; — bills that combine funding for some, but not all, areas of government.
House Majority Leader Steve Scalise (R-La.) supported Johnson&#8217;s stance, framing this week&#8217;s stopgap bill as a victory as it did not include additional funding that Senate Democrats desired.
Johnson cited last year&#8217;s extension of government funding to two separate dates past December as evidence that he could avoid an omnibus this year. He stressed his resolve to break away from the &#8220;terrible tradition&#8221; of the Christmas omnibus.
He said, &#8220;We don't want any buses. We're not going to do any buses, OK?" 
See Also: <a href="https://www.benzinga.com/news/24/09/40969584/trump-vs-harris-this-candidate-has-the-edge-in-latest-swing-state-polls?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs Harris: This Candidate Has The Edge In Latest Swing State Polls</a>
Why It Matters: Johnson&#8217;s announcement comes in the wake of a series of events that have shaped the current funding landscape. Earlier, a significant development occurred when <a href="https://www.benzinga.com/news/24/09/40931809/house-republicans-reject-their-own-funding-bill-as-government-shutdown-looms-mike-johnson-says-we-ha">House Republicans rejected Johnson&#8217;s proposal</a> to fund the government, complicating efforts to avoid a government shutdown.
Despite this setback, Johnson and other GOP leaders proposed a <a href="https://www.benzinga.com/news/24/09/40972702/house-gop-leaders-pitch-3-month-funding-plan-drop-trump-backed-voter-id-proposal-mike-johnson-says-s">three-month plan</a> to keep the government funded, reducing the initial six-month proposal and excluding a Donald Trump-endorsed measure requiring proof of citizenship to vote.
Senate Majority Leader, Chuck Schumer (D-N.Y.), had earlier warned that the Republicans <a href="https://www.benzinga.com/news/24/09/40890590/chuck-schumer-says-if-government-shutdown-happens-it-will-because-of-republican-poison-pills-the-ame">would be held accountable</a> if a government shutdown occurred due to &#8220;poison pills.&#8221;
Image via Shutterstock
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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>

Mike Johnson Vows No Christmas Omnibus, Breaking From A 'Terrible Tradition': 'We're Not Going To Do Any Buses, OK?'

The early resumes of tech industry pioneers Steve Jobs and Bill Gates resurfaced online last month, making it clear that even at the age of 18, they were already showcasing impressive skills.
What Happened: Bloomberg&#8217;s Jon Erlichman took to X and posted the resumes, describing them as &#8220;Steve Jobs and Bill Gates&#8217; resumes at age 18.&#8221;
At the time of writing, his post had garnered over 119,000 views and&nbsp;nearly 1,300 likes.
The 1973 resume of Jobs, co-founder of Apple Inc., was partially handwritten. It highlights &#8220;electronics tech&#8221; as one of his special abilities, with &#8220;design engineering&#8221; as his interest.
Jobs said he majored in English literature and gave his address out as &#8220;Reed College.&#8221; Interestingly, according to the college website, he was a student there in the fall of 1972 and dropped out after just one semester. He continued living on the campus and auditing classes including Shakespeare, modern dance, and calligraphy. 
One user in the comments noted that Jobs&#8217; resume lacked a phone number, which is ironic considering he later revolutionized the global phone industry with the launch of the iPhone.
His answer to the &#8220;Access to transportation&#8221; question was also praised by some people. Jobs had answered the question, saying, &#8220;Possible, but not probable.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/40974511/iphone-15-pro-models-and-iphone-13-discontinued-by-apple-heres-why?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">iPhone 15 Pro Models and iPhone 13 Discontinued By Apple: Here&#8217;s Why</a>
On the other hand, Gates&#8217;&nbsp;resume, written during his first&nbsp;year at Harvard University in 1974,&nbsp;shows him applying for the&nbsp;role of &#8220;System Analyst or System Programmer.&#8221;
Social media users found it amusing to see Gates&#8217; height and weight listed on his resume. The Microsoft Corporation co-founder had also listed his current salary as $15,000.
<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">Steve Jobs and Bill Gates' resumes at age 18: <a href="https://t.co/tFTltp80jM">pic.twitter.com/tFTltp80jM</a>
&mdash; Jon Erlichman (@JonErlichman) <a href="https://twitter.com/JonErlichman/status/1828389562332098642?ref_src=twsrc%5Etfw">August 27, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: Jobs, who passed away in 2011, was <a href="https://www.benzinga.com/markets/equities/24/09/40876783/steve-jobs-came-back-to-apple-27-years-ago-today-after-12-years-in-exile-if-you-invested-1-000-w">celebrated for his visionary leadership</a> at Apple, where he transformed the personal computer industry.
He returned to&nbsp;Apple in 1997&nbsp;after a 12-year hiatus, saving the company from bankruptcy and leading it to become one of the world&#8217;s largest tech firms.
Meanwhile, Gates has made significant contributions to&nbsp;personal computing and software and&nbsp;is also recognized for his philanthropic efforts.
After dropping out of college at 19, Gates co-founded Microsoft and transformed it into a global tech powerhouse.
His unique approach to financial management and business acumen led him to dominate the Forbes list of the world&#8217;s wealthiest individuals for <a href="https://www.benzinga.com/personal-finance/24/07/39600675/bill-gates-was-the-worlds-richest-man-for-a-record-18-years-his-secret-to-success-saving-like-a-">18 out of 23 years from 1995 to 2017</a>.
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>.
Images via Shutterstock and Wikimedia
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

'Possible, But Not Probable': Steve Jobs' Witty Transportation Answer In 1973 Resume Earns Him Online Accolades — Bill Gates $15k Salary No Less Impressive In The Same Era

ORGS

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

Vice President Kamala Harris continues to lead former President Donald Trump in a head-to-head poll of likely voters with less than 50 days to go until the<a href="https://www.benzinga.com/topic/2024-election"> 2024 presidential election.</a>
What Happened: Since the Sept. 10 presidential debate, Harris has led in most head-to-head polls against the former president and has been given an edge <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40993290/trump-vs-harris-2024-election-betting-odds-show-vice-president-maintains-lead-as-race-near">in betting odds </a>and prediction markets.
Polls pointed to Harris being<a href="https://www.benzinga.com/general/politics/24/09/40824831/harris-vs-trump-swing-state-voters-pick-presidential-debate-winner-share-thoughts-on-immigration" target="_blank" rel="noreferrer noopener"> crowned the winner</a> of the first presidential debate between her and the former president. Trump <a href="https://www.benzinga.com/general/politics/24/09/40843816/trump-declines-harris-debate-challenge-there-will-be-no-third-debate" target="_blank" rel="noreferrer noopener">declined to do more debates </a>ahead of the election and said he won the first meeting between the two candidates.
A new Morning Consult poll of likely voters shows Harris&#8217; lead growing after the presidential debate.
The new poll shows the following results from voters, with the results from the<a href="https://www.benzinga.com/general/politics/24/09/40910999/trump-in-trouble-vice-president-harris-has-record-6-point-lead-in-2024-election-poll-after-debat"> Sept. 17 poll </a>in parentheses:
<ul>
<li>Kamala Harris: 50% (51%)</li>
<li>Donald Trump: 45% (45%)</li>
<li>Someone Else: 2% (2%)</li>
<li>Don't Know: 3% (2%)</li>
</ul>
The poll found that 94% of Democrats backed Harris as their top pick, in line with last week's poll. The poll also found 91% of Republicans backed Trump as their top pick, which was in line with last week's poll.
Independent voters selected the following as their head-to-head preference, with the results from the Sept. 17 poll in parentheses:
<ul>
<li>Kamala Harris: 46% (47%)</li>
<li>Donald Trump: 42% (41%)</li>
<li>Someone Else: 6% (6%)</li>
<li>Don't Know: 6% (6%)</li>
</ul>
The vice president also has the edge in the 18-34 age voters demographic, leading 54% to 42%. The 12-point lead is down from last week's 15-point lead, but well ahead of past leads of 10 points and five points last month.
Among Black voters, Harris leads of 80% to 16%. This marks the highest support for Harris since polling began and the lowest for Trump in the demographic in the 2024 election cycle.
Did You Know?
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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent092424">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
 Why It's Important: There is good and bad news for both candidates in the latest poll.
Harris' record lead of six points last week drops to a five-point lead. Harris also saw her lead in the 18-34 age demographic and among Independent voters fall, which could be welcome signs for Trump.
The latest poll shows Harris with a favorable rating of 53%, in line with last week's poll and tied for the largest rating for Harris in the 2024 election cycle. With an unfavorable rating of 44 points, Harris' net favorability hits a record +9 points.
For comparison, Trump has a 45% favorable rating and 53% unfavorable rating, good for a net favorability of -8 points. Trump's net favorability has often been negative during the election cycle.
When it comes to running mates, Harris' vice-presidential pick Minnesota Gov. Tim Walz ranks significantly ahead of Trump's vice-presidential pick Sen. J.D. Vance in net favorability. Walz has a net favorability of +9 while Vance has a net favorability of -10.
With less than two months to go in the 2024 election, the race remains close and the five-point and growing lead could be a sign of a potential shift in how close the race is. But it&#8217;s important to remember that polls are not entirely perfect.
Biden had an eight-point lead over Trump two months before the 2020 election and ended up winning the popular vote by four points.
While Harris leads in several key demographics such as independents and young voters, the 2024 election will likely come down to swing states.
Morning Consult recently released the results of likely voters<a href="https://www.benzinga.com/topic/swing-states" target="_blank" rel="noreferrer noopener"> in swing states </a>and several other states expected to be close. Here are the current <a href="https://pro.morningconsult.com/trackers/2024-election-state-polls?utm_source=briefing&amp;utm_medium=email&amp;utm_campaign=washington_am&amp;utm_content=091024" target="_blank" rel="noreferrer noopener">results</a>:
<ul>
<li>Arizona: 49% Trump, 47% Harris </li>
<li>Georgia:&nbsp;48% Harris, 48% Trump</li>
<li>Michigan: 49% Harris, 46% Trump</li>
<li>Nevada:&nbsp;48% Harris, 48% Trump</li>
<li>North Carolina:&nbsp;48% Harris, 48% Trump</li>
<li>Pennsylvania: 49% Harris, 46% Trump</li>
<li>Wisconsin: 49% Harris, 46% Trump</li>
</ul>
In the key seven swing states, Harris leads in three states, Trump leads in one state and the two candidates are tied in three states.
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Photo: Shutterstock

Harris Vs. Trump: 2024 Election Poll Shows Good, Bad News For Each Candidate

Editor&#8217;s Note: A correction was made to the fourth quarter revenue. 
Stitch Fix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SFIX#NASDAQ">SFIX</a>) shares are trading lower after the company reported its fourth-quarter financial results after Tuesday's closing bell. Here's a look at the <a href="https://www.benzinga.com/pressreleases/24/09/g41013979/stitch-fix-announces-fourth-quarter-and-full-fiscal-year-2024-financial-results">details from the report. </a>
The Details: Stitch Fix reported quarterly losses of 29 cents per share, which missed the analyst consensus estimate for losses of 19 cents. Quarterly revenue of $319.6 million beat the analyst consensus estimate of $318.5 million and is a 12.4% decrease year-over-year.
&#8220;We are executing our transformation strategy with discipline and, during the fourth quarter, we delivered results at the high end of our guidance on both the top and bottom line,&#8221; said Matt Baer, CEO of Stitch Fix. 
&#8220;I am proud of the Stitch Fix team&#8217;s efforts this past fiscal year and encouraged by the progress we have already made to strengthen the foundation of our business and reimagine our client experience. While there is a lot of work still to do, I am confident we are on the right path to continue to improve the trajectory of our business which includes returning to revenue growth by the end of FY26,&#8221; Baer added. 
Read Next:<a href="https://www.benzinga.com/news/24/09/41011763/whats-going-on-with-intel-stock"> What&#8217;s Going On With Intel Stock?</a>
Outlook: Stitch Fix sees first-quarter revenue in a range of $303 million to $310 million and fiscal year 2025 revenue in a range of $1.11 billion to $1.16 billion. 
SFIX Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Stitch Fix shares are down 19.15% after-hours at $3.07 at the time of publication Tuesday.&nbsp;
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</ul>
Photo: Courtesy of Stitch Fix, Inc.&nbsp;

Earnings

Guidance

After-Hours Center

SFIX

Stitch Fix Stock Falls After Q4 Results: Here's Why (CORRECTION)

Boeing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) should be able to <a href="https://www.benzinga.com/general/space/24/09/41013092/boeing-vs-spacex-will-stumbles-in-union-negotiations-space-travel-weaken-aerospace-giants-standing-">quickly ramp up</a> aircraft production once the strike ends, according to an analyst.
Goldman Sachs analyst Noah Poponak said he expects the strike, which began on Sept. 13, will end soon, though the International Association of Machinists and Aerospace Workers, a union representing roughly 33,000 Boeing workers, rejected the company&#8217;s <a href="https://www.benzinga.com/general/24/09/40996898/boeings-striking-workers-reject-best-and-final-offer-it-missed-the-mark-on-many-of-the-things">&#8220;best and final offer&#8221;</a> on Monday.
&nbsp;&#8220;IAM workers at Boeing are on strike, though we expect a resolution soon, and for Boeing to be able to pick back up its aircraft production and delivery momentum,&#8221; Poponak wrote in a note Tuesday.
&#8220;Deliveries the last few months have improved and September was tracking quite strong before the strike.&#8221;
The striking machinists produce the 737 Max, Boeing's top-selling airliner, the 777 jet and the 767 cargo plane.
On the same day the strike began, Moody&#8217;s Investment Ratings said it would look at how the strike would impact the company&#8217;s production and cash flow while maintaining the lowest investment-grade rating for the company.
Read Also: <a href="https://www.benzinga.com/startups/24/09/40960505/boeing-in-a-death-spiral-of-their-own-making-according-to-a-consultant-as-employees-already-have-a-d">Boeing &#8216;In A Death Spiral Of Their Own Making&#8217; According To A Consultant As &#8216;Employees Already Have A Dim View Of Management&#8217;</a>
&#8220;Boeing is therefore likely considering options to raise capital to maintain its credit rating, and more debt does not solve near-term concerns,&#8221; Poponak wrote.
&#8220;We assume Boeing raises $12bn of equity before year-end, which matches the total maturities due in 2025 + 2026, and keeps the cash balance well north of $10bn in the near-to-medium-term while they ramp back up commercial deliveries and strive to resolve defense profitability.&#8221;
He said raising $12 billion in equity in the fourth quarter would put the company&#8217;s cash balance at or above $20 billion, which would give Boeing &#8220;ample cushion&#8221; providing ample cushion as new CEO Kelly Ortberg comes in and starts to lay out a strategic path forward.&nbsp;
&#8220;While BA continues to face several challenges to work through near-term, we see attractive valuation relative to long-term fundamentals and are Buy rated on the stock,&#8221; Poponak said.
BA Price Action: Boeing declined 0.30% to close at $155.81 on Tuesday.
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Photo: Shutterstock

Analyst Color

Travel

Analyst Ratings

Boeing Should Pick Up Aircraft Production Soon After Strike End, Analyst Says

Black Myth: Wukong soared to the top of the charts in August 2024, according to Newzoo, leading the revenue rankings across <a href="https://www.benzinga.com/topic/gaming-industry">six major markets. </a>
This action RPG, rooted in Chinese mythology, took the number one spot for overall earnings in the U.S., U.K., Germany, France, Spain and Italy highlighting its remarkable success in its debut month, GamesIndustry.biz <a href="https://www.gamesindustry.biz/black-myth-wukong-top-grossing-game-for-august-2024-newzoo-charts">reported.</a>
See Also: <a href="https://www.benzinga.com/general/gaming/24/08/40660800/is-sony-behind-black-myth-wukongs-xbox-delay-what-we-know">Is Sony Behind Black Myth: Wukong&#8217;s Xbox Delay? What We Know</a>
Not only did Black Myth: Wukong dominate these markets, but it also claimed the top position in the PC category. On Sony Group Corp.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) PlayStation, it was the third-highest-grossing title, only trailing behind Fortnite and Electronic Arts Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>) EA Sports Madden NFL 25, showing that it performed strongly across multiple platforms. 
<h1 class="wp-block-heading">The First Descendant Experiences Revenue Decline</h1>
While Black Myth: Wukong thrived, other games like The First Descendant saw less favorable trends. 
According to Newzoo&#8217;s August analysis, the game experienced a steep revenue decline from June to August. Despite initial success, the competitive market and new releases may have contributed to this downturn.
<h1 class="wp-block-heading">Popular Titles See Engagement Boosts</h1>
Several established titles saw significant gains in monthly active users (MAUs) during August. 
Fall Guys, Diablo 4 and World of Warcraft were among the games that witnessed notable increases in player activity. In particular, World of Warcraft saw its biggest MAU increase of 2024, climbing nine ranks in Newzoo's engagement chart.
Another major title, Warner Bros. Discovery Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) Lego Star Wars: The Skywalker Saga, experienced a substantial boost in player engagement. This was largely due to its inclusion in the PlayStation Plus lineup and a 75% discount on Nintendo ADR&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NTDOY#OTC">NTDOY</a>) Nintendo Switch Store, which helped bring in new and returning players.
<h1 class="wp-block-heading">Top Games by Revenue And MAUs For August</h1>
Newzoo's report also highlighted the top-performing games by revenue across PC and consoles for August. While Black Myth: Wukong led the revenue rankings, other big names like Fortnite and Madden NFL 25 secured second and third spots respectively.
In terms of monthly active users, Fortnite, Microsoft Corp.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Call of Duty: Modern Warfare 2/3/Warzone, and Minecraft dominated the top of the charts, maintaining their strong engagement among players across the six markets analyzed. 
Titles such as Diablo 4 also moved up significantly in the MAU rankings, driven by new updates that re-engaged the player base.
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NTDOY

Sony Group Corporation American Depositary Shares

SONY

Black Myth: Wukong's Big Debut Leads August Gaming Revenue Rankings

NFL Hall of Fame nominee, cannabis entrepreneur and former running back for the Miami Dolphins <a href="https://www.benzinga.com/topic/ricky-williams">Ricky Williams</a> has come out in support of <a href="https://www.benzinga.com/markets/cannabis/24/04/38034138/florida-supreme-court-approves-cannabis-legalization-proposal-for-november-election-in-blow-to-d" target="_blank" rel="noreferrer noopener">Florida's Amendment 3</a>, which will go before voters in the upcoming <a href="https://www.benzinga.com/topic/2024-election">November elections</a>.
"I know firsthand the ostracizing and debilitating effects the criminalization of cannabis can have," Williams said in a statement, <a href="https://floridapolitics.com/archives/697340-ex-dolphin-ricky-williams-backs-amendment-3-to-end-prejudice-over-cannabis-in-florida/">published</a> by Florida Politics.
"I want to pay my experiences forward, end the unjust criminalization and prejudice over cannabis, and bring Florida to the same level of freedom that over half of the country already enjoys,&#8221; Williams said. &#8220;We can accomplish this by voting ‘Yes' on 3 this November."
Williams, who played for 11 seasons in the NFL, retired from the Miami Dolphins for a year after being suspended for violating the league's substance abuse policy. He returned the following year after paying fines, but issues related to his marijuana dogged him despite his excellent on-field performance, including winning the 1998&nbsp;Heisman Trophy&nbsp;and breaking several NCAA records.
Williams, along with several other athletes such as Calvin Johnson, Al Harrington and Rob Sims, attended the <a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">Benzinga Cannabis Capital Conference </a>in Chicago in 2022. Check out this year's conference in Chicago on Oct. 7-8.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/09/41011619/it-takes-a-village-to-build-generational-wealth-nbas-al-harrington-on-his-full-circle-moment-and">&#8216;It Takes A Village…To Build Generational Wealth&#8217;: NBA&#8217;s Al Harrington On His Full Circle Moment And Opening NJ Cannabis Dispensary</a>
Smart &amp; Safe Florida spokesperson Morgan Hill called Williams' story "an important case study for why passing Amendment 3 is an important, long-necessitated step forward for Florida."
"No one deserves to have their life changed simply for using marijuana," Hill said, per the outlet. "We are grateful to have his support and look forward to continuing to grow this vast coalition behind legalizing adult-use recreational marijuana for Florida."
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.</li>
</ul>
Meanwhile, Smart &amp; Safe <a href="https://smartandsafeflorida.com/smart-safe-florida-announces-ad-on-hypocrisy-of-alcohol-vs-marijuana/">announced</a> Tuesday that it has a new campaign ad, Hypocrisy of Alcohol vs. Marijuana.
"According to a&nbsp;<a href="https://smartsafeflorida.cmail20.com/t/y-l-mhitudt-hlkrhtkduu-j/" target="_blank" rel="noreferrer noopener">recent FDA study</a>, alcohol was found to have a higher use disorder rate than marijuana. Additionally, the FDA found that alcohol has among the highest adverse consequences, while marijuana ranks lower," noted Smart &amp; Safe, the group behind the Amendment 3 campaign.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Different &#x7C; Vote Yes on Amendment 3!" width="500" height="281" src="https://www.youtube.com/embed/-ddyTqQkQ6s?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
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Photo: Benzinga edit of images by Wikimedia Commons and&nbsp;<a href="https://unsplash.com/@2hmedia?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText" target="_blank" rel="noreferrer noopener">2H Media</a>&nbsp;on&nbsp;<a href="https://unsplash.com/photos/1SDw4biQ6us?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText" target="_blank" rel="noreferrer noopener">Unsplash</a>

Cannabis

Sports

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Florida Cannabis Ballot: NFL's Ricky Williams Backs Legalization, New Ad 'Hypocrisy Of Alcohol Vs. Marijuana'

The next U.S. administration "must grapple with widening budget deficits," warned Moody's Ratings in <a href="https://www.benzinga.com/topic/moody-s">a report published Tuesday</a>.
But no matter who is elected on Nov. 5, whether it&#8217;s ex-President Donald Trump or current Vice President Kamala Harris, the situation is dire, Moody&#8217;s reported.
What Happened: Recall last November when Moody&#8217;s outlook on the U.S. government&#8217;s ratings went <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/11/35735142/moodys-casts-a-dark-cloud-us-outlook-downgraded-to-negative-over-escalating-deficit">from stable to negative</a>?
The decision came after Moody&#8217;s rival, Fitch Ratings, slashed the U.S. sovereign credit grade <a href="https://www.benzinga.com/government/23/08/33523662/fitch-slashes-us-credit-rating-5-top-economists-weigh-in-on-economic-fallout">from AAA to AA+</a>. Fitch reaffirmed the U.S. <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40638519/fitch-reaffirms-us-aa-credit-rating-warns-of-growing-debt-burden-tax-cuts-will-be-e">credit rating in August</a>.
Both agencies blamed fiscal deterioration, escalating interest rates, political polarization <a href="https://www.benzinga.com/markets/bonds/23/11/35706307/feds-barkin-warns-there-is-more-inflation-to-come-calls-for-decisive-economic-slowdown" target="_blank" rel="noreferrer noopener">and substantial deficits.</a> And today, Moody&#8217;s is just as nervous — perhaps more so — about the U.S.&#8217;s ability to manage its finances.
&#8220;The incoming administration will face a deteriorating U.S. fiscal outlook, as declining debt affordability will gradually weaken U.S. fiscal strength,&#8221; Moody&#8217;s analysts, led by Claire Li and William Foster, wrote. &#8220;In the absence of policy measures that can curb these trends and help limit fiscal deficits, deteriorating fiscal strength will increasingly weigh on the U.S. sovereign credit profile.&#8221;
<h1 class="wp-block-heading">Moody&#8217;s Cautions:</h1>
<ul>
<li>If nothing changes, the federal government will run fiscal deficits that average around 7% of GDP per year over the next five years.</li>
<li>This will rise to nearly 9% by 2034.</li>
<li>The debt burden will hover at around 130% of GDP by 2034 from 97% in 2023.</li>
<li>Federal interest payments relative to revenue and GDP will double to around 30% and 5% by 2034, respectively, from 14.8% and 2.4% in 2023. </li>
<li>The 2017 Tax Cuts and Jobs Act (TCJA) is a significant factor in the worsening fiscal outlook.</li>
<li>If the Trump-era TCJA extends, federal tax revenue will be around 1% of GDP lower per year from 2026 onward.</li>
<li>Letting it expire means more revenue and a narrowing of the fiscal deficit projections. </li>
<li>The 10-year Treasury yield will settle at around 4% from 2025 onward.</li>
</ul>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40972902/kamala-harris-finally-mentions-crypto-and-that-too-on-wall-street-promises-to-encourage-in">Kamala Harris Promises To Encourage &#8216;Innovative Technologies&#8217; Like Crypto</a>
Why It Matters: Economists have long insisted that U.S. <a href="https://www.benzinga.com/news/treasuries/24/02/37227285/government-debt-exceeds-120-of-gdp-why-former-imf-economist-very-worried-about-us-fiscal-crisis">credit is at risk</a>. A debt crisis would lead to a weaker dollar, higher borrowing costs and market volatility and inflationary pressure, they say.
It could also hurt social programs and damage the U.S.'s international reputation.
Moody&#8217;s analysts project that a Harris administration will likely positively affect banks. Trump&#8217;s approach would likely lead to looser regulation, creating credit risks for banks and consumer asset-backed securities.
On immigration, both candidates are expected to maintain strict policies, Moody&#8217;s explains. But Trump has proposed mass deportations. This could ultimately lead to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38678379/immigration-rebound-helps-solve-us-inflation-puzzle-goldman-sachs">increased labor costs</a> in agriculture, and construction, negatively affecting those sectors and related industries.
And about those tax cuts. Harris has backed measures like reversing parts of the TCJA, which provided significant tax cuts to high-income earners. Increasing the corporate tax rate to 28% from 21% could help reduce the deficit by generating more government revenue.
That proposal contrasts with Trump's promise to reduce the corporate<a href="https://www.benzinga.com/news/24/07/39811211/as-billionaire-boys-go-all-in-for-trump-anthony-scaramucci-has-word-of-caution-tonic-they-are-prescr"> tax rate to 15%</a>.
Now Read: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40993290/trump-vs-harris-2024-election-betting-odds-show-vice-president-maintains-lead-as-race-near">2024 Election Betting Odds Show This Candidate Maintains Lead As Race Nears One-Month Mark</a></li>
</ul>
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Invidia Capital Management Announces Healthcare Investment Firm Launch with Strategic Investment from GCM Grosvenor

GCM Grosvenor to Present at the William Blair 44th Annual Growth Stock Conference on June 5, 2024

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GCM Grosvenor to Present at the Morgan Stanley U.S. Financials and Payments Conference on June 12, 2024

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