Latest news for Gunma Bank (OTC:GMBKF) Stock

Gunma Bank Ltd is a Japan-based company that is principally engaged in providing banking services. As a regional bank, the company conducts businesses mainly in Gunma Prefecture and neighboring areas. The company's core segments include the banking segment and the leasing segment, with the banking segment contributing most of the company's revenue. The company also has a securities business, a guarantee business, a credit card business, and other businesses.

Gunma Bank Ltd

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BBJP

WisdomTree Trust Japan Total Dividend Fund

Reported Earlier, Japan Interest Rate Decision Unchanged At 0.25%

Reported Earlier, People's Bank of China Loan Prime Rate Unchanged At 3.35%

Reported Earlier, China Loan Prime Rate 5Y For September Unchanged At 3.85%

Reported Earlier, Japan National Consumer Price Index (MoM) For August 0.5% Vs. 0.2% Prior

Reported Earlier, Japan National Core Consumer Price Index (YoY) For August 2.8% Vs. 2.8% Est.; 2.7% Prior

&#8216;Big Short&#8217; famed investor Steve Eisman who is a senior portfolio manager at Neuberger Berman says that he has dropped his forecast after President Joe Biden drops out of the 2024 presidential elections. Eisman has previously predicted that former President Donald Trump would win the race. 
What Happened: Eisman who successfully bet against subprime mortgages before the financial crisis of 2008 said, &#8220;I withdraw the prediction,&#8221; and asserted that he had &#8220;no idea,&#8221; who would win the presidential election after Vice President Kamala Harris became the Democratic presidential candidate. Eisman <a href="https://www.bloomberg.com/news/videos/2024-09-19/eisman-says-the-election-is-a-toss-up-video">said</a> this in an interview with Bloomberg Television. 
Eisman made a case that if Democrats win in The White House and Congress &#8220;the market is going straight down,&#8221; however if the Vice President wins and Democrats do not sweep, the market will be fine. 
In contrast, Eisman forecasted that if Trump wins the race, the stocks will surge in anticipation of tax cuts. 
See Also: <a href="https://www.benzinga.com/personal-finance/24/09/40881429/warren-buffetts-daughter-asked-him-for-a-41-000-loan-to-remodel-her-kitchen-but-the-billionaire-">Warren Buffett&#8217;s Daughter Asked Him For A $41,000 Loan To Remodel Her Kitchen, But The Billionaire Told Her: &#8216;Go To The Bank Like Everyone Else&#8217;</a>
Why It Matters: Investors are currently grappling with U.S. economic uncertainty, shifts in Federal Reserve policy, and the upcoming presidential election—all contributing to a heightened demand for <a href="https://www.benzinga.com/markets/24/09/40796352/trump-vs-harris-u-s-stock-market-faces-rising-risks-amid-economic-uncertainty-and-2024-election">portfolio hedging and diversification</a>.
Election forecaster and historian Allan Lichtman made his final prediction last week on whether Trump or Harris will win the 2024 presidential election. Lichtman&#8217;s 13-key point system sees Harris win eight, Trump win three, <a href="https://www.benzinga.com/general/politics/24/09/40783924/trump-vs-harris-election-forecaster-with-9-out-of-10-accurate-predictions-makes-final-call-says-">and two still undecided</a>.
A new Morning Consult poll of likely voters shows Harris&#8217; lead growing <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">after the presidential debate</a>.
However, a CNBC survey revealed that 67% of investors believe that former President Trump would be more favorable for the stock market. Historically, the S&amp;P 500 and Nasdaq performed <a href="https://www.benzinga.com/markets/24/09/40796352/trump-vs-harris-u-s-stock-market-faces-rising-risks-amid-economic-uncertainty-and-2024-election">strongly during his tenure</a>. 
Trump has also claimed that if Harris wins the election, the <a href="https://www.benzinga.com/markets/24/09/40685476/trump-predicts-a-1929-like-market-crash-if-harris-wins-is-this-possible">market could face a 1929-like crash</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">Elon Musk Reacts After Mark Cuban Says He Would Buy X &#8216;In A Heartbeat&#8217;</a></li>
</ul>
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Markets

'Big Short' Fame Investor Drops Previous Prediction Of Trump Victory: 'The Market Is Going Straight Down' If Kamala Harris Wins White House And Democrats Sweep Congress

Memecoins on the Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) blockchain rallied sharply on Thursday as the broader cryptocurrency regained momentum following the Federal Reserve's aggressive rate cut.
What happened: Canine-inspired token dogwifhat popped 6.55% in the last 24 hours, emerging as the market's biggest gainer among memecoins exceeding billion-dollar valuation. The coin's trading volume jumped 18.56% to $424 million.
Another dog-themed coin Bonk recorded gains of more than 6%, with trading volume more than doubling to $152 million.&nbsp;
Additionally, cat-themed cryptocurrency Popcat lifted 4.74%, extending its gravity-defying rally this year. The token was up an astounding 11130% year-to-date.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 11:45 p.m. EDT)</td>
</tr>
<tr>
<td>dogwifhat (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WIF</a>)</td>
<td>+6.55%</td>
<td>$1.79</td>
</tr>
<tr>
<td>Bonk (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">BONK</a>)</td>
<td>+6.01%</td>
<td>$0.00001822</td>
</tr>
<tr>
<td>Popcat (POPCAT)</td>
<td>+4.74%</td>
<td>$0.9046</td>
</tr>
</tbody>
</table>
</figure>
Solana memecoins outperformed the more established Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)-based 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>), which were up 2.66% and 4.39%, respectively.
The performance of memecoins rubbed on Solana's native token SOL, which was up 3.60% in the last 24 hours.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40950912/bitcoins-reserve-asset-appeal-increased-due-to-state-of-us-federal-deficit-and-debt-says-b">Bitcoin&#8217;s Reserve Asset Appeal Increased Due To State Of US Federal Deficit And Debt, Says BlackRock: A Hedge Against &#8216;Possible Future Events&#8217; Affecting The Dollar</a>
Major cryptocurrencies were on the move following the Fed's announcement of a <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40924506/savvy-trader-ensures-500-000-profit-if-the-federal-reserve-cuts-25-or-50-basis-points">50 basis point cut</a> in interest rates.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) has rallied nearly 6% since the announcement, while Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) was up more than 10%.
Image via Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40951267/max-keiser-attacks-michael-saylor-for-finding-fault-with-el-salvadors-bitcoin-strategy-you">Max Keiser Attacks Michael Saylor For Finding Fault With El Salvador&#8217;s Bitcoin Strategy: &#8216;You Owe Nayib Bukele An Apology&#8217;</a></li>
</ul>

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

Cryptocurrency

Movers

Trading Ideas

$BONK

$BTC

$DOGE

$ETH

$SHIB

$SOL

$WIF

Solana-Based Memecoins Spike — Dogwifhat, Bonk Outshine Dogecoin, Shiba Inu In 24-Hour Gains

Staunch Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) advocate Max Keiser slammed MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) co-founder Michael Saylor for casting aspersions on the Bitcoin strategy adopted by the Nayib Bukele-led El Salvador administration.
What Happened: Keiser took to X on Thursday to respond to Saylor&#8217;s broader argument questioning investments in Bitcoin without any expectation of a yield on it. 
During an interaction with Saifedean Ammous, the author of the famous book &#8220;The Bitcoin Standard,&#8221; Saylor asserted that El Salvador would eventually have to liquidate their Bitcoin stash to pay their expenses if they don&#8217;t get any yield on it.
&#8220;I put the question to you. What&#8217;s the point of El Salvador or your family accumulating all of your capital in Bitcoin if you expect zero yield forever and you&#8217;re never going to borrow against it,&#8221; the Bitcoin billionaire added.
Keiser, who serves as senior Bitcoin adviser to El Salvador President Nayib Bukele, did not take these observations well.
&#8220;Michael Saylor is unequivocally wrong while slandering El Salvador. El Salvador is reducing debt &amp; growing GDP (and buying more Bitcoin every day) without exposing El Salvador to the counterparty risk that Saylor is exposing his shareholders to,&#8221; Keiser hit back. &#8220;You owe Nayib Bukele an apology, dude.&#8221;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40945847/donald-trump-now-trails-kamala-harris-by-4-points-after-9-point-election-odds-turnaround-i?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Donald Trump Now Trails Kamala Harris By 4 Points After 9-Point Election Odds Turnaround In Only 9 Days</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">.<a href="https://twitter.com/saylor?ref_src=twsrc%5Etfw">@saylor</a> is unequivocally wrong while slandering &#x1f1f8;&#x1f1fb; El Salvador is reducing debt &amp; growing GDP (and buying more Bitcoin every day) WITHOUT exposing &#x1f1f8;&#x1f1fb; to the counterparty risk that Saylor is exposing his shareholders to. You owe <a href="https://twitter.com/nayibbukele?ref_src=twsrc%5Etfw">@nayibbukele</a> an apology, dude. <a href="https://t.co/8dq4YD6rGU">https://t.co/8dq4YD6rGU</a>
&mdash; Max Keiser (@maxkeiser) <a href="https://twitter.com/maxkeiser/status/1836743595572728287?ref_src=twsrc%5Etfw">September 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Why It Matters: Keiser&#8217;s fiery response was noteworthy given his endorsement of Saylor&#8217;s Bitcoin strategy in the past.
In January, Keiser credited Saylor for taking Bitcoin &#8220;out of the shitcoin gutter&#8221; and setting the stage for Bitcoin ETF approvals.
<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">Shout out <a href="https://twitter.com/saylor?ref_src=twsrc%5Etfw">@saylor</a> who took <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> out of the shitcoin gutter and set the stage for today's ETF approval.
&mdash; Max Keiser (@maxkeiser) <a href="https://twitter.com/maxkeiser/status/1745446454569902151?ref_src=twsrc%5Etfw">January 11, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Just last month, he heaped praise on MicroStrategy&#8217;s stock, underscoring its limitless growth potential.
<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">There are still people who are financiers for decades who STILL don't understand what <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSTR</a> is doing and that the stock LITERALLY has no top.
&mdash; Max Keiser (@maxkeiser) <a href="https://twitter.com/maxkeiser/status/1819144200614547852?ref_src=twsrc%5Etfw">August 1, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">El Salvador has doubled down on Bitcoin ever since adopting the world&#8217;s largest digital currency as a legal tender in 2021. The country has adopted a plan&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37763988/pro-bitcoin-president-nayib-bukele-says-el-salvador-will-purchase-btc-daily-until-king-cry" target="_blank" rel="noreferrer noopener">to buy one Bitcoin every day</a>, until it becomes unaffordable with fiat currencies.</figcaption></figure>
As of this writing, the Central American nation holds 5,878.76 Bitcoins in its reserves, worth more than $372 million. 
Price Action: As of this writing, Bitcoin was exchanging hands at $63,317.85, up 2.01% 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.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Photo Courtesy: Shutterstock.com
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40950912/bitcoins-reserve-asset-appeal-increased-due-to-state-of-us-federal-deficit-and-debt-says-b">Bitcoin&#8217;s Reserve Asset Appeal Increased Due To State Of US Federal Deficit And Debt, Says BlackRock: A Hedge Against &#8216;Possible Future Events&#8217; Affecting The Dollar</a></li>
</ul>

MSTR

Max Keiser Attacks Michael Saylor For Finding Fault With El Salvador's Bitcoin Strategy: 'You Owe Nayib Bukele An Apology'

In the wake of the most powerful typhoon to hit Shanghai in 75 years, Elon Musk, CEO of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and SpaceX, has called on his Tesla Shanghai team to provide aid to those affected by the disaster.
What Happened: On Thursday, Musk took to X, formerly Twitter, and said, &#8220;Shanghai just experienced the most powerful typhoon in 75 years.&#8221;
The tech mogul then shared that he has asked the Tesla Shanghai team to assist those in distress following the devastating typhoon.
<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">Shanghai just experienced the most powerful typhoon in 75 years! Best wishes for the resilient &amp; resourceful people of Shanghai. I have asked our Tesla Shanghai team to help anyone in distress to the best of our ability.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1836911713649586398?ref_src=twsrc%5Etfw">September 19, 2024</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/news/23/05/32623067/how-to-take-the-perfect-moon-shot-using-an-iphone-14?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">How To Take The Perfect Moon Shot Using An iPhone 15</a>
Why It Matters: The typhoon, named Bebinca, made landfall near Shanghai on Monday, causing widespread damage and leading to the evacuation of hundreds of thousands of people. 
According to a BBC <a href="https://www.bbc.com/news/articles/c62ggnlw2zpo">report</a> from earlier this week, the China Meteorological Administration confirmed that the storm hit the coastal area of Lingang New City in Shanghai's east around 07:30 local time.
Chinese state media have reported it as the strongest storm to hit Shanghai in 75 years.
On Thursday, Typhoon Pulasan, the 14th of the year according to China&#8217;s meteorological authorities, made its second landfall in the country.
With wind speeds reaching up to 23 meters per second near its center, the storm struck Shanghai&#8217;s Fengxian district around 9:45 p.m. local time, after first hitting Zhejiang Province earlier in the day, <a href="https://www.chinadaily.com.cn/a/202409/20/WS66ec55a5a3103711928a8bbc.html">according</a> to China Daily.
Pulasan is the second typhoon to hit China this year, following Typhoon Bebinca
Read Next:
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<li><a href="https://www.benzinga.com/news/24/09/40893054/mark-cuban-says-he-would-buy-rupert-murdochs-fox-news-and-elon-musks-x-but-there-are-some-obstacles?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Says He Would Buy Rupert Murdoch&#8217;s Fox News And Elon Musk&#8217;s X But There Are Some Obstacles: &#8216;If I Had Enough… I&#8217;d Buy It In A Heartbeat&#8217;</a></li>
</ul>
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.

Tech

Media

General

TSLA

Elon Musk Tells Tesla Shanghai Team To Help 'Anyone In Distress' After Chinese Mega City Gets Hit By Most Powerful Typhoon In 75 Years

In a move closely watched by global markets, the Bank of Japan decided on Friday to maintain its benchmark interest rate at around 0.25%.
What Happened: The decision aligns with predictions from a Reuters poll, where economists anticipated another rate hike by the end of the year.
Following the announcement, the yen remained nearly unchanged at 142.52 against the dollar. The Nikkei 225 index, which had risen by 2%, maintained its level, according to <a href="https://www.benzinga.com/pro/login">data from Benzinga Pro</a>.
See Also: <a href="https://www.benzinga.com/markets/equities/24/09/40917216/elon-musk-says-warren-buffett-is-positioning-for-kamala-harris-win-with-his-277b-cash-pile-as-pr?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says Warren Buffett Is Positioning For Kamala Harris Win With His $277B Cash Pile As Pro-Trumper John Paulson Warns Of Equity Market Exit</a>
Why It Matters: Last month, BOJ Governor Kazuo Ueda indicated that the central bank would continue to raise interest rates if the economy and <a href="https://www.benzinga.com/markets/asia/24/09/40842879/major-central-banks-slash-rates-in-sync-but-one-holdout-threatens-to-derail-bulls-momentum-carry-tra">inflation met projections</a>. 
This stance contrasts with <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40926026/federal-reserve-delivers-bold-0-5-rate-cut-signals-further-easing-ahead">other global central banks</a>, such as the U.S. Federal Reserve, which recently cut interest rates by 50 basis points.
The BOJ had previously <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40310031/bank-of-japan-likely-to-delay-further-interest-rate-hikes-until-2024-ex-official-predicts">maintained near-zero interest rates</a> to stimulate inflation and economic growth. However, it raised the key rates to 0.25% in July, aiming to achieve a 2% inflation target. 
Read Next: 
<ul>
<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">Traders Brace For Friday Volatility As Over $5 Trillion In Options Expire: Could &#8216;Triple Witching&#8217; Spoil Fed&#8217;s Rally?</a></li>
</ul>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Asia

Federal Reserve

Bank Of Japan Leaves Interest Rate At 0.25%, Diverging From Fed's 50 Basis Point Cut

The U.S. stock market reached new heights today, following the Federal Reserve&#8217;s unexpected <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40926026/federal-reserve-delivers-bold-0-5-rate-cut-signals-further-easing-ahead">decision to cut interest rates for the first time in over four years</a>. This bold move led to a surge in the S&amp;P 500 and Dow Jones indices, reaching all-time highs of 5,700 and 42,000 points respectively. The market rally was primarily fueled by the &#8220;Magnificent Seven&#8221; tech giants, each recording daily gains ranging from 1.5% to 4.5%.
The Dow Jones Industrial Average closed 1.3% higher at 42,025.19, while the S&amp;P 500 climbed 1.7% to 5,713.64. The Nasdaq surged 2.5% to 18,013.98.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla&#8217;s stock soared by 7.36% today, closing at $243.92. The electric vehicle maker&#8217;s shares hit an intraday high of $244.24 and a low of $232.13. The 52-week high and low for Tesla stand at $273.93 and $138.8 respectively. <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40944143/wall-street-breaks-records-chipmakers-rally-tesla-hits-2-month-high-as-fed-cut-drives-risk">Tesla&#8217;s stock reached a two-month high</a> following the Federal Reserve&#8217;s rate cut.
Nike Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>)
Nike shares saw a slight increase of 0.10% today, closing at $80.98. The stock reached an intraday high of $83.12 and a low of $80.47. The company&#8217;s 52-week high and low are $123.39 and $70.75 respectively. <a href="https://www.benzinga.com/news/24/09/40948580/nike-stock-jumps-9-after-the-bell-ceo-set-to-retire">Nike announced a CEO transition</a> after the market close today, which led to a 9% jump in the company&#8217;s shares in after-hours trading. 
Nike announced that longtime company veteran Elliott Hill will take over as president and CEO, effective October 14. Hill will also join the board of directors and the executive committee. Current president and CEO John Donahoe will retire from his role on October 13, but will stay on as an advisor until January 31, 2025, to help with the transition.
See Also: <a href="https://www.benzinga.com/markets/equities/24/09/40912814/amazon-told-its-staff-they-must-come-to-office-five-days-a-week-but-its-primary-healthcare-subsi?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Amazon Told Its Staff They Must Come To Office Five Days A Week, But Its One Medical Subsidiary Workers R</a>
Alibaba Group Holding Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>)
Alibaba&#8217;s stock rose by 4.82% today, closing at $88.49. The shares reached an intraday high of $88.57 and a low of $86.95. The 52-week high and low for Alibaba are $90.46 and $66.63 respectively. <a href="https://www.benzinga.com/news/24/09/40934797/alibaba-shares-rise-4-in-premarket-after-company-unveils-over-100-new-ai-models-and-text-to-video-to">The company announced the launch of over 100 new AI models</a>, which led to a 4% rise in its shares during premarket trading.
FedEx Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>)
FedEx shares increased by 0.74% today, closing at $300.39. The stock hit an intraday high of $308 and a low of $297.87. The 52-week high and low for FedEx are $313.84 and $224.69 respectively. <a href="https://www.benzinga.com/news/earnings/24/09/40948046/fedex-q1-earnings-revenue-miss-eps-miss-lowered-guidance-challenging-quarter">The company reported its first-quarter earnings</a> after the market close today, missing revenue and EPS estimates and lowering its guidance.
Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>)
Trump Media &amp; Technology Group&#8217;s shares fell by 5.89% today, closing at $14.7. The stock reached an intraday high of $15.37 and a low of $14.56. The 52-week high and low for the company are $79.38 and $14.56 respectively. <a href="https://www.benzinga.com/news/24/09/40939390/trump-media-technology-group-stock-slides-as-lockup-expiration-looms-whats-going-on">The company&#8217;s shares traded lower</a> as lockup restrictions preventing certain insiders from selling shares are set to expire.
Image via Shutterstock
Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> by Benzinga.
Read Next:
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<li> <a href="https://www.benzinga.com/markets/equities/24/09/40893386/elon-musk-and-oracles-larry-ellison-begged-jensen-huang-for-nvidia-gpus-at-a-dinner-please-take-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk And Oracle&#8217;s Larry Ellison &#8216;Begged&#8217; Jensen Huang For Nvidia GPUs At A Dinner: &#8216;Please Take Our Money&#8217;</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

BABA

Tesla, Nike, Alibaba, FedEx, Trump Media & Technology: Why These 5 Stocks Are On Investors' Radars Today

Elon Musk, CEO of Tesla Inc. and SpaceX, took to X (formerly Twitter) on Thursday to criticize the Federal Aviation Administration for <a href="https://www.benzinga.com/news/24/09/40935722/spacex-ceo-elon-musk-says-anyone-can-go-to-mars-with-spacex-but-journey-would-be-like-a-long-sea-voy">penalizing SpaceX while neglecting safety issues</a> at Boeing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>).
What Happened: According to Musk&#8217;s post, the FAA has been focusing on &#8220;petty matters&#8221; concerning SpaceX, instead of addressing significant safety concerns at Boeing. He stated that this misallocation of resources endangers human lives.
Musk referenced a letter from SpaceX to Congress, highlighting the FAA&#8217;s inability to keep pace with the commercial spaceflight industry. The letter was addressed to key members of the U.S. Congress, including Rep. Frank Lucas (R-Okla.) and Rep. Zoe Lofgren (D-Calif.), Sen.&nbsp;Ted Cruz&nbsp;(R-Texas) and Senate Commerce Committee Chair&nbsp;Maria Cantwell&nbsp;(D-Wash.).
SpaceX&#8217;s letter detailed alleged violations cited by the FAA, including the use of an unapproved propellant farm and an updated communications plan. SpaceX denied these allegations, asserting that the FAA&#8217;s actions were untimely and unrelated to public safety.
&#8220;This is deeply wrong and puts human lives at risk,&#8221; Musk wrote. 
The letter also pointed out that the FAA had approved the same propellant farm for other launches, questioning the consistency of the agency&#8217;s safety determinations. SpaceX emphasized its commitment to safety and criticized the FAA for its inefficiencies.
Musk&#8217;s post concluded with a call for change, stating, &#8220;Enough is enough,&#8221; and urging Congress to address the FAA&#8217;s shortcomings.
<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">SpaceX letter to Congress. The <a href="https://twitter.com/FAANews?ref_src=twsrc%5Etfw">@FAANews</a> leadership spends their resources attacking <a href="https://twitter.com/SpaceX?ref_src=twsrc%5Etfw">@SpaceX</a> for petty matters that have nothing to do with safety, while neglecting real safety issues at Boeing. This is deeply wrong and puts human lives at risk. NASA deemed the Boeing capsule… <a href="https://t.co/Y3A2F6xcv1">https://t.co/Y3A2F6xcv1</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1836923457960919224?ref_src=twsrc%5Etfw">September 20, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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See Also: <a href="https://www.benzinga.com/news/24/09/40892013/spacex-ceo-elon-musk-says-canadian-government-is-funding-starlink-rival-for-satellite-internet-despi?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">SpaceX CEO Elon Musk Says Canadian Government Is Funding Starlink Rival For Satellite Internet Despite His Offer To Do It For &#8216;Less Than Half That Amount&#8217; As It Wants Its &#8216;Own System&#8217;</a>
Why It Matters: The recent criticism from Musk comes amid ongoing tensions between SpaceX and the FAA. On Thursday, Musk accused the FAA of imposing a $633,009 fine on SpaceX for regulatory violations, suggesting that the agency shows <a href="https://www.benzinga.com/markets/equities/24/09/40912464/elon-musk-accuses-faa-of-fining-spacex-over-nonsense-that-doesnt-affect-safety-amazingly-no-star">favoritism towards Boeing</a>.
Musk&#8217;s comments were in response to a post by Mario Nawfal, who criticized the FAA&#8217;s actions against SpaceX. Musk questioned why Boeing was not fined despite NASA deeming their spacecraft unsafe for returning astronauts. 
Musk stated, "Amazingly, no Starliner fines for Boeing! The FAA space division is harassing SpaceX about nonsense that doesn&#8217;t affect safety while giving a free pass to Boeing even after NASA concluded that their spacecraft was not safe enough to bring back the astronauts."
Additionally, SpaceX <a href="https://www.benzinga.com/news/24/09/40932353/spacex-continues-to-prepare-for-future-starship-flights-despite-delays-in-faa-launch-clearance-elon">continues to prepare for future Starship flights</a> despite delays in FAA launch clearance. On Thursday, SpaceX tested the engines of its Starship launch vehicle for its sixth flight test, even while its fifth flight's timeline remains uncertain. 
In a broader context, SpaceX has been making significant <a href="https://www.benzinga.com/news/24/09/40916098/elon-musks-spacex-launches-90th-mission-in-2024-with-over-a-third-of-launch-target-still-to-go">strides in its mission goals</a>. On Wednesday, the company launched its 90th mission for the year with a Falcon 9 rocket, which carried the European Commission&#8217;s Galileo L13 mission to medium Earth orbit from Florida. Despite these achievements, SpaceX still has over a third of its launch target for the year yet to go.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/09/40893054/mark-cuban-says-he-would-buy-rupert-murdochs-fox-news-and-elon-musks-x-but-there-are-some-obstacles?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Says He Would Buy Rupert Murdoch&#8217;s Fox News And Elon Musk&#8217;s X But There Are Some Obstacles: &#8216;I&#8217;d Buy It In A Heartbeat&#8217;</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.

SPACE

Elon Musk Blasts FAA For Targeting SpaceX Over 'Petty Matters,' While Ignoring Boeing's Safety Issues: This 'Puts Human Lives At Risk'

Leading cryptocurrencies edged higher Thursday as risk-taking investors continued to cheer the Federal Reserve&#8217;s bold half-point interest rate cut.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:45 p.m. EDT)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+1.73%</td>
<td>$62,980.73</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>+2.45%</td>
<td>$2,452.33</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>+0.16%</td>
<td>$0.1042</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin surged above $63,800 in the afternoon, clocking its highest value in nearly four weeks. The leading cryptocurrency descended below $63,000 overnight as some investors locked in gains.
The Fed announced a 50 basis point cut in interest rates earlier this week, bringing the federal funds rate down to a <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40924506/savvy-trader-ensures-500-000-profit-if-the-federal-reserve-cuts-25-or-50-basis-points">range of 4.75% to 5%</a>. Since this move, Bitcoin has leaped nearly 6%.
The second-largest cryptocurrency, Ethereum almost touched $2,500, before retreating to the mid- $2,400 region.
The total cryptocurrency liquidations soared past $124 million in the past 24 hours, with $77 million in downside bets getting wiped out.&nbsp;
Bitcoin's funding rate was positive on most major cryptocurrency exchanges like Binance and Bybit, indicating the dominance of long-position traders.
The market sentiment was "neutral," according to the popular Cryptocurrency Fear and Greed Index.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:45 p.m. EDT)</td>
</tr>
<tr>
<td>Bittensor (TAO)</td>
<td>+11.87%</td>
<td>$378.80</td>
</tr>
<tr>
<td>Core (CORE)</td>
<td>+11.51%</td>
<td>$1.07</td>
</tr>
<tr>
<td>Immutable (IMX)</td>
<td>+9.06%</td>
<td>$1.50</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market stood at $2.17 trillion, following an increase of 1.80% in the last 24 hours.
Stocks closed at new highs Thursday. The Dow Jones Industrial Average rose 522.09 points, or 1.26%, to finish at 42,025.19, marking the 30-stock index's first close above 42,000. The S&amp;P 500 lifted 1.70% to end at 5,713.64, while the tech-focused Nasdaq Composite surged 2.51% to close at 18,013.98.
Inventors weighed in the weekly jobless claims numbers that <a href="https://www.benzinga.com/markets/equities/24/09/40939571/nasdaq-surges-400-points-us-jobless-claims-fall-to-219-000">fell by 12,000 from the prior week</a> to 219,000 in the week ending Sept. 14, well below the estimates.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Widely-followed cryptocurrency analyst and trader Ali Martinez observed Bitcoin's RSI breaking out of a key resistance trendline, prompting him to issue a bullish forecast.
"However, BTC still needs to reclaim the 200-day moving average as support to confirm the continuation of the bull run," the analyst added the caveat.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">On the <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> daily chart, the RSI has broken through a key resistance trendline, signaling a bullish breakout! However, <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> still needs to reclaim the 200-day moving average as support to confirm the continuation of the bull run. <a href="https://t.co/d6n6j6jH0l">pic.twitter.com/d6n6j6jH0l</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1836908378884559104?ref_src=twsrc%5Etfw">September 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Prominent analyst Michaël van de Poppe raised Ethereum's upside potential after the rate cut, predicting higher inflows into ETFs and more interest in yield.
"The likelihood of more rate cuts will be substantial, through which $ETH and DeFi become way more attractive," he remarked.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Rate cuts have happened! The likelihood of more rate cuts will be substantial, through which <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> and DeFi become way more attractive. I think this would mean a higher inflow in the ETF + more interest in Yield, through which ETH/BTC should be running upwards. Let&#39;s see. <a href="https://t.co/n5Ic6e3Yiu">pic.twitter.com/n5Ic6e3Yiu</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1836827596618694735?ref_src=twsrc%5Etfw">September 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo by SvetlanaParnikova on Shutterstock
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40945847/donald-trump-now-trails-kamala-harris-by-4-points-after-9-point-election-odds-turnaround-i">Donald Trump Now Trails Kamala Harris By 4 Points After 9-Point Election Odds Turnaround In Only 9 Days</a></li>
</ul>

Bitcoin, Ethereum, Dogecoin Move Higher As Aggressive Rate Cut By Fed Fuels Crypto Demand: Top Trader's Bullish Forecast For King Crypto Hinges On This Condition

U.S. Democratic presidential candidate Kamala Harris has expressed her support for both the Second Amendment and assault weapon bans.
What Happened: On Thursday, in a conversation with Oprah Winfrey during a live-streamed &#8220;Unite for America&#8221; event in Michigan, Harris discussed various topics, including gun violence.
She criticized the false dichotomy often presented in the gun control debate. She stated that the issue of gun violence has been framed as a false choice, suggesting that individuals are either in favor of the Second Amendment or want to take everyone&#8217;s guns away.
&#8220;I am in favor of the Second Amendment, and I am in favor of assault weapons bans, universal background checks, Red Flag laws,&#8221; Harris said.
See Also: <a href="https://www.benzinga.com/general/politics/24/09/40907893/kamala-harris-wins-second-endorsement-in-179-years-from-magazine-that-featured-works-from-nikola?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Kamala Harris Wins Second Endorsement In 179 Years From Magazine That Featured Works From Nikola Tesla, Albert Einstein</a>
When Winfrey brought up the fact that Harris is a gun owner, she responded with a joke, &#8220;If somebody breaks in my house they getting shot.&#8221; 
She quickly followed up with an apology amid a laugh, stating she &#8220;probably shouldn&#8217;t have said that,&#8221; and her staff will have to deal with it later.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="Harris, Oprah Winfrey host a virtual campaign event in Detroit" width="500" height="281" src="https://www.youtube.com/embed/ko25WD7v0po?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>
Why It Matters: Harris&#8217;s comments come at a time when gun violence is a pressing issue in the U.S. 
There have been at least 49 school shootings in the U.S. as of Sept. 13, <a href="https://edition.cnn.com/us/school-shootings-fast-facts-dg/index.html#:~:text=As%20of%20September%206%20%E2%80%93%20the,250th%20day%20of%20each%20year.">according</a> to CNN. The incidents left 24 people dead and at least 65 other victims injured.
The Washington Post reports that over the past 25 years, since 1999, there have been 417 school shootings in the U.S., affecting more than 383,000 students who have experienced gun violence on school grounds.
The AR-15, dubbed &#8220;America&#8217;s Rifle&#8221; by the National Rifle Association or NRA, is one of the <a href="https://www.benzinga.com/news/24/07/39780789/the-ar-15-rifle-used-to-shoot-trump-is-a-symbol-of-american-gun-rights-which-he-vowed-to-protect">most commonly owned firearms</a> for U.S. civilians. It has also become emblematic in the debate over gun laws.
The NRA did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga&#8217;s</a> request for comments on Harris&#8217;s statement.
The weapon was used to shoot Donald Trump at a rally on July 13. It has also been used in 10 of the 17 most deadly mass shootings since 2012.
Earlier this year, U.S. Surgeon General Vivek H. Murthy declared <a href="https://www.benzinga.com/government/24/06/39484065/us-surgeon-general-calls-gun-violence-a-public-health-issue">gun violence a public health crisis</a> in a 39-page advisory. He highlighted the significant physical and mental toll of gun violence on communities nationwide.
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</ul>
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.

Kamala Harris Underlines Her Support For Second Amendment, Dismisses False Dichotomy Of Gun Control Debate: Jokes To Oprah: 'If Somebody Breaks In My House They Getting Shot'

In the face of a $35 trillion federal debt crisis, global asset manager BlackRock Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) strategically advocated for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) as a safeguard, potentially raising the upside potential of the world&#8217;s largest cryptocurrency.
What Happened: BlackRock noted concerns about the spiraling $35 trillion U.S. fiscal deficit, attributing it as a significant driver of growing institutional interest in Bitcoin, according to a paper authored by some of the top executives from the asset management giant, including BlackRock&#8217;s ETF Chief Investment Officer Samara Cohen and Head Of Digital Assets Robert Mitchnick.
&#8220;The growing concerns in the U.S. and abroad over the state of U.S. federal deficits and debt have increased the appeal of potential alternative reserve assets as a potential hedge against possible future events affecting the U.S. dollar,&#8221; the paper outlined. &#8220;In our experience with clients to date, this explains a substantial portion of the recent broadening institutional interest in Bitcoin.&#8221;
BlackRock, which manages around $10 trillion in assets, also described Bitcoin as a &#8220;unique diversifier&#8221; to hedge against fiscal, monetary, and geopolitical risks.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40945847/donald-trump-now-trails-kamala-harris-by-4-points-after-9-point-election-odds-turnaround-i?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Donald Trump Now Trails Kamala Harris By 4 Points After 9-Point Election Odds Turnaround In Only 9 Days</a>
Why It Matters: BlackRock&#8217;s bullish observations followed former U.S. President Donald Trump&#8217;s vision to use Bitcoin to offset the U.S.&#8217;s $35 trillion debt, a step that was <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40152445/trumps-bold-plan-to-use-bitcoin-to-wipe-out-35t-us-debt-questioned-by-economist-justin-wol">heavily criticized</a> by influential economists like Justin Wolfers and Paul Krugman.
Recall that Sen.&nbsp;Cynthia Lummis&nbsp;(R-Wyo.) <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40087880/cynthia-lummis-unveils-strategic-bitcoin-reserve-legislation-this-is-our-louisiana-purchas">proposed a landmark legislation</a> in July to establish a strategic Bitcoin reserve, aimed at enhancing the dollar&#8217;s strength and addressing the country&#8217;s $35 trillion debt. The bill hinges on the expectations that a million Bitcoin 20 years from now would be worth $17 trillion.
BlackRock CEO Larry Fink is <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40937953/larry-fink-defies-blackrocks-largest-shareholder-to-make-a-bold-bet-on-bitcoin-heres-how-h">known for his Bitcoin advocacy</a>, calling the digital currency a hedge against inflation given rising global tensions and threats of de-dollarization.
The firm&#8217;s successful campaign to launch a fully-fledged U.S. spot Bitcoin exchange-traded fund, iShares Bitcoin Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>), has been a major driving force of the Bitcoin price in 2024.
Price Action: At the time of writing, Bitcoin was exchanging hands at $62,788.62, up 1.54% 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>.&nbsp;Shares of BlackRock closed 1.29% higher at $934.61 during Thursday&#8217;s regular trading session.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40945629/bitcoin-could-surge-after-interest-rate-cut-as-macro-drivers-take-over-standard-chartered">Bitcoin Could Surge After Interest Rate Cut As Macro Drivers Take Over: Standard Chartered</a></li>
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IBIT

Bitcoin's Reserve Asset Appeal Increased Due To State Of US Federal Deficit And Debt, Says BlackRock: A Hedge Against 'Possible Future Events' Affecting The Dollar

In an opinion piece in the New York Times titled &#8220;Inflation Is Ebbing. Now the Fed Must Protect Jobs,&#8221; the inventor of Sahm&#8217;s Rule Claudia Sahm said the 0.5 percentage point <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40926026/federal-reserve-delivers-bold-0-5-rate-cut-signals-further-easing-ahead">cut in policy interest rate</a> by the Federal Reserve signifies a change in the central bank&#8217;s strategy towards managing inflation and employment.
What Happened: The rate cut brings the federal funds rate to a target range of 4.75 percent to 5 percent, inching closer to pre-pandemic levels. The Fed&#8217;s decision indicates a shift from its focus on inflation, which has been on a downward trend for the past two years, to strengthening employment, <a href="https://www.nytimes.com/2024/09/19/opinion/federal-reserve-rate-cut-unemployment.html">wrote</a> Sahm in the Times.
Despite the rate cut, the funds rate remains high enough to deter some borrowing and spending, suggesting the Fed&#8217;s continued caution against inflation. However, the larger cut also reflects the Fed&#8217;s concern over recent indications of a labor market slowdown.
&#8220;Unlike many other central banks, however, the Fed has a mandate for maximum employment along with price stability, and the decision for a larger cut also signals that it is taking seriously recent signs of slowing in the labor market,&#8221; said Sahm, a former economist at the Federal Reserve Board of Governors.
Sahm noted that the decision was met with dissent, with Fed governor Michelle Bowman advocating for a smaller cut. Sahm said that the recent unemployment rate increase aligns with early recession trends, but the U.S. isn&#8217;t in or nearing a recession, with GDP growth on track. The Fed's half-point rate cut, termed a "recalibration" by Chair Jerome Powell, aims to reduce risks, though it has raised concerns about a potential economic crisis.
Additional rate cuts are anticipated as inflation continues to fall. Most Fed officials predict a further reduction of at least 1.5 percentage points in the funds rate by the end of 2025, assuming only a minor increase in unemployment, according to Sahm.
See Also: <a href="https://www.benzinga.com/news/24/09/40933169/mark-cuban-teams-up-with-kamala-harris-to-protect-american-businesses-from-unfair-foreign-competitio?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Teams Up With Kamala Harris To Protect American Businesses From &#8216;Unfair Foreign Competition&#8217; From Chinese Clone Products: &#8216;Knockoffs Are A Plague On Small Businesses&#8217;</a>
Why It Matters: This bold move by the Federal Reserve breaks a four-year streak of steady rates, surprising Wall Street analysts who had predicted a more modest 0.25 point cut. The larger reduction aligns with investor sentiment favoring a more aggressive easing approach at the start of the rate-cut cycle.
Earlier, Sahm had refuted claims of a U.S. recession despite market instability. She insisted that traditional indicators might not <a href="https://www.benzinga.com/news/24/08/40177780/i-do-not-think-the-us-economy-is-in-recession-sahm-rule-creator-refutes-claims-amid-market-turmoil">accurately reflect</a> the current unusual economic cycle. Sahm later <a href="https://www.benzinga.com/news/24/08/40389835/claudia-sahm-stands-by-sahm-rule-amid-criticism-from-jerome-powell-and-others-on-its-economic-signif">defended the relevance</a> of her economic indicator amid criticism.
Photo 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>

Claudia Sahm Underscores Fed's Mandate to Protect Jobs, Says Additional Cuts Expected: 'The Time To Support The Labor Market Is When It's Strong'

Ahead of the 2024 presidential election, Vice President Kamala Harris is making strategic moves to win over voters through a <a href="https://www.benzinga.com/news/24/09/40937579/kamala-harris-and-oprah-winfrey-to-host-virtual-event-to-sway-support-from-key-battleground-states-o">high-profile virtual event</a> with former talk show host Oprah Winfrey.
What Happened: The event, titled "Unite for America," is hosted by Winfrey from suburban Michigan, a crucial battleground state in the upcoming election. 
The livestream features celebrities like Bryan Cranston, Jennifer Lopez, and Meryl Streep, alongside stories from ordinary voters to amplify Harris&#8217;s message.
More than 295,000 viewers tuned in on YouTube alone, with the event also being streamed on other major social media platforms. 
Winfrey introduced Harris, who spoke about her sudden rise to the Democratic nominee after President Joe Biden&#8216;s unexpected exit in July. 
"I felt a sense of responsibility, to be honest with you, and with that comes a sense of purpose," Harris said. 
During the event, Harris discussed her plans to reduce housing costs and cut middle-class taxes, answering questions from voters in Michigan and Virginia. Harris has been focusing on digital engagement and controlled interactions, aiming to connect with voters who primarily consume news online.
See Also: <a href="https://www.benzinga.com/news/24/09/40931458/obama-era-economist-says-she-is-pleasantly-surprised-that-jd-vance-thinks-the-economy-is-too-strong?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Obama-Era Economist Says She Is &#8216;Pleasantly Surprised&#8217; That JD Vance Thinks The &#8216;Economy Is Too Strong For The Rate Cut&#8217;</a>
Why It Matters: The virtual event comes at a critical time for Harris, who has been gaining ground in recent polls. A <a href="https://www.benzinga.com/general/politics/24/09/40949853/harris-in-trouble-new-swing-state-poll-shows-trump-gains-ground-in-key-battleground-areas-for-20">recent poll</a> shows Harris trending up in the 2024 election polls of nationally registered voters, posting her largest lead in the weekly Morning Consult poll this week in the head-to-head matchup against former President Donald Trump.
However, the race remains tight, with high-profile endorsements playing a crucial role. Harris recently received her second endorsement in 179 years from the <a href="https://www.benzinga.com/general/politics/24/09/40907893/kamala-harris-wins-second-endorsement-in-179-years-from-magazine-that-featured-works-from-nikola">oldest continuously published magazine in the U.S.</a>, which has featured works from luminaries like Nikola Tesla and Albert Einstein.
Additionally, Harris has been actively <a href="https://www.benzinga.com/news/24/09/40933169/mark-cuban-teams-up-with-kamala-harris-to-protect-american-businesses-from-unfair-foreign-competitio">collaborating with influential figures</a> like billionaire entrepreneur Mark Cuban. Cuban recently teamed up with Harris to protect American businesses from unfair foreign competition, particularly from Chinese knockoffs. 
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40913930/kamala-harris-moves-from-13-point-deficit-to-7-point-lead-over-trump-in-survey-of-fund-managers-stra?itm_source=parsely-api">Kamala Harris Moves From 13-Point Deficit To 7-Point Lead Over Trump In Survey Of Fund Managers, Strategists And Economists: Here&#8217;s Why Most Favor A Divided Government</a></li>
</ul>
Image via Wikimedia Commons
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>

Social Media

Kamala Harris Tells Oprah Winfrey She Felt A 'Sense Of Responsibility' After Biden's Sudden Exit: It Came With A 'Sense of Purpose'

Noted data scientist, Thomas Miller of Northwestern University, recognized for his precise election forecasts, has made a prediction for the forthcoming Trump vs. Harris presidential election.
What Happened: Miller, who accurately foresaw the results of the 2020 presidential and Georgia senatorial races, has come forward with a new prediction for the 2024 presidential election, <a href="https://fortune.com/2024/09/18/trump-vs-harris-election-odds-who-will-win/">reported</a> Fortune.
Miller&#8217;s approach, which utilizes data from political betting sites rather than conventional polls, has shown high accuracy in the past. &#8220;Political betting sites are the best at predicting the wisdom of the crowd,&#8221; Miller stated to Fortune. He contends that while polls mirror past sentiments, betting odds can offer a more precise prediction of future outcomes.
For the 2024 presidential race, Miller is again employing PredictIt, a U.S. political betting site, for his forecasts. He observes that the site has a steady group of investors and provides current data, making it a dependable source for his analysis.
According to Miller&#8217;s model, Harris is presently leading Trump. He ascribes this shift to several factors, including the recent Trump-Harris debate and a crucial endorsement for Harris. If the current trend persists, Miller anticipates a substantial victory for Harris in the upcoming election.
&#8220;It's gone from a drastic landslide in Trump's direction to a drastic landslide for Harris,&#8221; said Miller. He said it would now take an equally dramatic shift in Trump&#8217;s favor for the ex-president to come back into contention. Miller said as things stood now it appeared as if Harris would win big on November 5.
Miller&#8217;s predictions have been remarkably precise in the past, making his forecast a significant point of interest as the election nears. His unique approach to election forecasting offers a new viewpoint on the potential outcome of the Trump vs. Harris race.
Miller&#8217;s analysis suggests that as of September 10, millions of Trump supporters likely shifted, triggering a ripple effect that could eventually benefit Harris, though few see it yet. 
See Also: <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?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump In Trouble: Vice President Harris Has Record 6-Point Lead In 2024 Election Poll After Debate, Posts Highest Rankings In Key Demographics</a>
Why It Matters: A recent poll taken after the September 10 presidential debate from the Trafalgar Group <a href="https://www.benzinga.com/news/24/09/40869086/trump-vs-harris-new-poll-reveals-post-debate-swing-towards-this-candidate-in-key-state">showed Trump overtaking Harris</a> in North Carolina, with 48.4% to her 46%. Despite an underwhelming debate performance, Trump gained a 2% shift from Harris&#8217; supporters, narrowing the previously slim lead she held in earlier polls.
The trends reported by Benzinga showed Harris <a href="https://www.benzinga.com/general/politics/24/09/40949853/harris-in-trouble-new-swing-state-poll-shows-trump-gains-ground-in-key-battleground-areas-for-20">gaining ground</a> in key battleground areas. Furthermore, Harris posted a record 6-point lead in a <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">national poll</a> after the debate, indicating a strong momentum in her favor after the event.
Image via Shutterstock
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<li>Lawmakers Made Huge Investments This Year. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
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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>

Data Scientist Who Called 2020 Election Correctly Says Its Gone From 'Drastic Landslide In Trump's Direction To A drastic landslide For Harris'

Elon Musk, the CEO of Tesla and SpaceX, has come under the scrutiny of the Secret Service due to a <a href="https://www.benzinga.com/news/24/09/40870646/elon-musk-comments-on-why-they-want-to-kill-trump-desantis-promises-floridas-own-probe">contentious social media post</a> involving President Joe Biden and Vice President Kamala Harris.
What Happened: The Secret Service is investigating a post by Musk in which he questioned why there were no assassination attempts on Biden or Harris. The agency refrained from revealing any details about the investigation, citing it as an &#8220;enforcement proceeding,&#8221; <a href="http:// 
<h2&gt;Elon Musk's Controversial Post Sparks Secret Service Investigation</h2&gt; <p&gt;In a recent development, <b&gt;Elon Musk</b&gt;, the CEO of <b&gt;Tesla Inc.</b&gt; (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</h2&gt;elon></a>), has come under the scrutiny of the Secret Service due to a contentious social media post involving President Joe Biden and Vice President Kamala Harris.
<p&gt;<b&gt;What Happened</b&gt;: According to a <a href=&quot;https://www.businessinsider.com/secret-service-elon-musk-investigation-tweet-biden-kamala-assassination-2024-9&quot;&gt;Business Insider</a&gt; report on Sunday, the Secret Service is investigating a post by Musk in which he questioned why there were no assassination attempts on Biden or Harris. The agency refrained from revealing any details about the investigation, citing it as an &quot;enforcement proceeding.&quot;</p&gt; <p&gt;Musk's controversial post was in response to a user who asked why there were attempts on the life of former President Donald Trump. Musk later took down his post, attributing it to a misunderstood sense of humor.</p&gt; <p&gt;<i&gt;See Also: <a href=&quot;https://www.benzinga.com/news/24/09/40911991/hillary-clinton-compares-melania-trump-to-the-little-kid-at-a-birthday-party-who-doesnt-know-anyone?itm_source=parsely-api&quot; target=&quot;_blank&quot;&gt;Hillary Clinton Compares Melania Trump To 'The Little Kid At A Birthday Party Who Doesn't Know Anyone' In</a&gt;</i&gt;</p&gt;<p&gt;Spokesperson for the Secret Service, Melissa McKenzie, stated, <span style=&quot;color:#FF0000&quot;&gt;&quot;The Secret Service is aware</span&gt; <span style=&quot;color:#FF0000&quot;&gt;of the social media post</span&gt; <span style=&quot;color:#FF0000&quot;&gt;made by Elon Musk and</span&gt; <span style=&quot;color:#FF0000&quot;&gt;as a matter of practice,</span&gt; <span style=&quot;color:#FF0000&quot;&gt;we do not comment on</span&gt; matters involving protective intelligence.&quot; She further added that the agency <span style=&quot;color:#FF0000&quot;&gt;investigates all threats related to</span&gt; their protectees.</p&gt; <p&gt;It is important to note that Musk, who is a known supporter of Trump, has previously highlighted the former president's survival of an assassination attempt. Musk endorsed Trump following a near-miss shooting incident in July.</p&gt; <p&gt;The White House has denounced Musk's post, describing it as irresponsible rhetoric that should never be encouraged or joked about.</p&gt; <p&gt;<b&gt;Why It Matters</b&gt;: This controversy comes in the wake of a second assassination attempt on Donald Trump, as reported by <a href=&quot;https://www.benzinga.com/news/24/09/40870646/elon-musk-comments-on-why-they-want-to-kill-trump-desantis-promises-floridas-own-probe&quot;&gt;Benzinga</a&gt;. Musk's contentious post was made shortly after this incident, sparking a wave of backlash and criticism, including from the White House, as per <a href=&quot;https://www.benzinga.com/news/24/09/40890277/elon-musk-says-his-now-deleted-controversial-post-after-latest-trump-assassination-which-was-labeled&quot;&gt;Benzinga</a&gt;. The Tesla CEO later removed the post, claiming it was a joke that was misunderstood due to lack of context. The Secret Service's investigation into Musk's post underscores the seriousness of such comments, even when made in jest.</p&gt;<p&gt;<i&gt;Read Next: <a href=&quot;https://www.benzinga.com/news/24/09/40931458/obama-era-economist-says-she-is-pleasantly-surprised-that-jd-vance-thinks-the-economy-is-too-strong?itm_source=parsely-api&quot; target=&quot;_blank&quot;&gt;Obama-Era Economist Says She Is 'Pleasantly Surprised' That JD Vance Thinks The 'Economy Is Too Strong Fo</a&gt;</i&gt;</p&gt;">reported Business Insider.</p&gt;<b&gt;what>
Musk&#8217;s controversial post was in response to a user who asked why there were attempts on the life of former President Donald Trump. Musk later took down his post, attributing it to a misunderstood sense of humor.
A Spokesperson for the Secret Service, Melissa McKenzie, stated, &#8220;The Secret Service is aware of the social media post made by Elon Musk and as a matter of practice, we do not comment on matters involving protective intelligence.&#8221; She further added that the agency investigates all threats related to their protectees.
It is important to note that Musk, who is a known supporter of Trump, has previously highlighted the former president&#8217;s survival of an assassination attempt. Musk endorsed Trump following a near-miss shooting incident in July.
The White House has denounced Musk&#8217;s post, describing it as irresponsible rhetoric that should never be encouraged or joked about.
See Also: <a href="https://www.benzinga.com/news/24/09/40911991/hillary-clinton-compares-melania-trump-to-the-little-kid-at-a-birthday-party-who-doesnt-know-anyone?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Hillary Clinton Compares Melania Trump To &#8216;The Little Kid At A Birthday Party Who Doesn&#8217;t Know Anyone&#8217; In Her Latest Book</a>
Why It Matters: This controversy comes in the wake of a <a href="https://www.benzinga.com/24/09/40869836/donald-trump-safe-and-unharmed-after-shooting-incident-at-florida-golf-club">second assassination attempt</a> on Trump. Musk&#8217;s contentious post was made shortly after this incident, sparking a wave of backlash and criticism, including from the White House, as per Benzinga. 
The Tesla CEO later <a href="https://www.benzinga.com/news/24/09/40890277/elon-musk-says-his-now-deleted-controversial-post-after-latest-trump-assassination-which-was-labeled">removed the post</a>, claiming it was a joke that was misunderstood due to lack of context. He wrote on X, &#8220;Turns out that jokes are WAY less funny if people don&#8217;t know the context and the delivery is plain text."
In a separate post, Musk said that he had learned the lesson that &#8220;just because I say something to a group and they laugh doesn&#8217;t mean it&#8217;s going to be all that hilarious as a post on X.&#8221;
Did You Know?
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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
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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>
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'The Secret Service Is Aware Of The Social Media Post Made By Elon Musk,' Says Law Enforcement Agency

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