Kamux (OTC:KMUXF) Stock, Quote.Headers.trade-ideas

Kamux Corp is engaged in the selling of used cars and also offers its customers third-party insurance products. The company also provides finance, low-cost auto insurance, and delivery at home or place of work services. It operates in Sweden, Germany, and Finland, and the majority of its revenue is generated from Finland.

Kamux Corp

The Federal Reserve&#8217;s rate-setting committee -the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40883023/how-second-tier-economic-data-tuesday-could-sway-the-feds-rate-decision-it-will-be-">Federal Open Market Committee, kickstarts a two-day meeting on Tuesday</a> and the futures market currently bakes in a 67% probability of a 50-basis-point rate cut. Ahead of the all-important meeting, Nobel laureate Paul Krugman said on Monday the fed funds rates are &#8220;too high.&#8221;
Data Turns Benign: The Fed targets inflation of around 2% over the longer run, with its favorite inflation gauge being the annual rate of the price index for personal consumption expenditure. The latest available data show that the annual rate of headline and core consumer price inflation was 2.5% and 3.2%, respectively, in August.
Using the personal consumption expenditure as an inflation measure shows the annual headline and core rate at 2.5% and 2.6%, respectively, in July.
Krugman said inflation is basically in line with the target if the lagging shelter measures are accounted for. Pointing to the job openings data, he said, &#8220;The labor market is cooler than it was before the pandemic.&#8221; Job openings fell to 8.83 million in July, the lowest since 2021, according to a Bureau of Labor Statistics report.
<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">Meanwhile, the labor market is cooler than it was before the pandemic 2/ <a href="https://t.co/nkxhKFjpYd">pic.twitter.com/nkxhKFjpYd</a>
&mdash; Paul Krugman (@paulkrugman) <a href="https://twitter.com/paulkrugman/status/1835652859934675165?ref_src=twsrc%5Etfw">September 16, 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/money/best-inflation-stocks">Best Inflation Stocks</a>
Rates Elevated: Juxtaposing that with the Fed funds rate, Krugman noted that even a 50-point cut would leave the Fed funds rate 300 basis points above pre-pandemic.
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="730" height="545" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/17015844/image-1-33.png" alt="" class="wp-image-550990" style="width:920px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/17015844/image-1-33.png 730w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/17015844/image-1-33-300x224.png 300w" sizes="(max-width: 730px) 100vw, 730px" /></figure>
&#8220;How can this be justified?&#8221; he asked. While self-answering the question, the economist said the economy doesn&#8217;t seem to be in a recession yet. The Fed is apparently waiting to adjust the taps until it turns ice-cold, he said, adding that &#8220;maybe it&#8217;s PTSD from the unexpected inflation of 2021-22, but it&#8217;s still a big mistake.&#8221;
&#8220;Also bear in mind that the risks are asymmetric: we&#8217;re probably back in the world where excessively loose monetary policy will only gradually affect inflation, while a labor market downturn could happen very fast,&#8221; Krugman said.
Realistically, there is hope for a 50 basis-point cut, the economist said. He, however, said the argument for incrementalism is very weak.
Meanwhile, economists on the other end of the spectrum such as Peter Schiff think <a href="https://www.benzinga.com/news/24/09/40890618/peter-schiff-says-unlikely-that-fed-rate-cuts-will-lower-borrowing-costs-predicts-rising-mortgage-ra">a rate cut now would be a huge mistake, </a>as it would potentially weaken the dollar and fan inflationary pressure, with the vicious cycle continuing.
The iShares TIPS Bond ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TIP#NYSE">TIP</a>), an ETF tracking the investment results of an index composed of inflation-protected U.S. Treasury bonds, ended Monday's session up 0.34% at $110.82, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/09/40872851/s-p-500-implied-volatility-suggests-100-point-swing-as-fed-decision-looms-experts-say-market-may">S&amp;P 500 Implied Volatility Suggests 100-Point Swing As Fed Decision Looms: Experts Say Market May Collapse After Rate Cuts</a></li>
</ul>
Photo by TANYA LARA on Shutterstock

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Ahead Of FOMC Meeting Paul Krugman Says Fed Rates Will Be Elevated Even With 50 Bps Cut: 'Argument For Incrementalism Is Very Weak'

The Court granted interim approval for the Company to immediately access&nbsp;$3.5 million&nbsp;of the debtor-in-possession (DIP) financing provided by an affiliate of TREW Capital Management. The Court also approved the use of the Company&#39;s existing employee benefits, cash management systems, and customer programs. With the DIP financing approved by the Court, the Company has the liquidity to stabilize its operations and work with its vendors and landlords to meet the high standards for the BurgerFi and Anthony&#39;s brands.&nbsp;

Reported Earlier, BurgerFi Receives Interim Approval For $3.5M Financing To Support 144 Locations During Restructuring

Ahead of the November presidential election, the U.S. and Japan are on the verge of finalizing a deal to limit the export of chip technology to China.
What Happened: The agreement aims to address loopholes in existing export rules and impose new restrictions reflecting the rapid advancements of Chinese companies in chip production over the last two years. The White House intends to introduce these controls before the November presidential election, the Financial Times <a href="https://www.ft.com/content/3fa44901-33e4-4ab4-9f7b-efe1575a6553">reported</a> on Monday, citing people familiar with the situation.
Negotiations have been ongoing for months, involving officials from the U.S., Japan, and the Netherlands. The goal is to establish complementary export control regimes to ensure Japanese and Dutch companies are not targeted by the U.S. &#8220;foreign direct product rule.&#8221;
However, the situation remains delicate. A Japanese official expressed concerns about potential Chinese retaliation, which could include blocking exports of critical minerals like gallium and graphite. These minerals are essential for various Japanese industries. according to the report.
The U.S. export controls are designed to make it more difficult for China to acquire critical chipmaking tools and services, significantly impacting companies like ASML Holding NV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) in the Netherlands and Tokyo Electron in Japan. The U.S. also seeks to align export control rules among the three countries to avoid diplomatic conflicts.
See Also: <a href="https://www.benzinga.com/news/24/09/40866458/billionaire-ray-dalio-warns-potential-election-chaos-likely-if-loser-particularly-trump-rejects-outc?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Billionaire Ray Dalio Warns Potential Election Chaos Likely If Loser, Particularly Trump, Rejects Outcome &#8211; &#8216;My Great Fear Is for Democracy&#8217;</a>
The Biden administration is aware of Tokyo&#8217;s irritation over the pressure being applied, especially as President Joe Biden prepares to block Nippon Steel&#8216;s $15 billion takeover of U.S. Steel. The U.S. negotiators include officials from the Commerce Department and National Security Council, according to the report.
China has expressed strong opposition to these measures, urging relevant countries to adhere to international economic and trade rules. 
Liu Pengyu, spokesperson for the Chinese embassy in Washington, stated that China would closely monitor developments and defend its companies&#8217; lawful rights and interests.
The White House did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
Why It Matters: The U.S. has been <a href="https://www.benzinga.com/markets/equities/24/06/39396293/us-pressures-japan-and-netherlands-to-tighten-chip-equipment-exports-to-china-report">reportedly pressuring Japan</a> and the Netherlands to tighten their export policies on chipmaking equipment to China since mid-2024. Alan Estevez, the chief of export policy, has been instrumental in these discussions.
China, on the other hand, has been actively working to counter these restrictions. In May, the Chinese government announced a substantial <a href="https://www.benzinga.com/news/24/05/39110209/chinas-decapitated-chip-sector-is-thrown-50b-lifeline">$47.5 billion public fund</a> to boost its self-reliance in advanced chip manufacturing.
Despite U.S. export restrictions, Chinese markets have <a href="https://www.benzinga.com/news/24/09/40748025/china-offers-nvidias-ai-chips-at-discounted-rents-as-low-as-6-per-hour-despite-us-export-restriction">reportedly managed to obtain advanced chips</a> through alternative means. Reports from September indicate that NVIDIA Corp&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) AI chips are available in China at discounted rates, suggesting a significant supply despite the ban.
Furthermore, <a href="https://www.benzinga.com/government/24/09/40748185/chinas-markets-still-manage-to-get-nvidia-ai-chips-via-smuggling-report">smuggling and other channels</a> have allowed Chinese markets to continue accessing these critical technologies, highlighting the ongoing struggle between the U.S. and China over semiconductor dominance.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/09/40874566/apple-shares-slide-in-monday-premarket-whats-souring-sentiment?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple Shares Slide In Monday Premarket: What&#8217;s Souring Sentiment?</a>
Image generated using DALL-E
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Global

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ASML

NVDA

Nvidia Supplier ASML Among Firms That Face Potential New Export Restrictions As US, Japan Move To Limit Chip Technology To China: Report

Reported Earlier, Greenfire Resources Sees Major Shareholders Allard, Annapurna, And Modro Exit With C$327M Stake Sale To Waterous Energy Fund

With U.S. stock futures trading mixed this morning on Tuesday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Ferguson Enterprises Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FERG#NYSE">FERG</a>) to report quarterly earnings at $2.82 per share on revenue of $7.99 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Ferguson Enterprises shares fell 0.1% to $197.10 in after-hours trading.</li>
<li>Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) announced a new share repurchase program worth up to $60 billion. The company also declared a quarterly dividend of $0.83 per share, marking a 10% increase from the previous quarter. Microsoft shares gained 0.7% to $434.50 in the after-hours trading session.</li>
<li>Nutriband Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTRB#NASDAQ">NTRB</a>) disclosed a $1 million share buyback program. Nutriband shares fell 0.4% to $4.50 in the after-hours trading session.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) announced a strategic collaboration with AWS to help advance US-based chip manufacturing. Intel shares jumped 7.9% to $22.56 in the after-hours trading session.</li>
<li>RF Industries, Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RFIL#NASDAQ">RFIL</a>) posted weaker-than-expected results for its third quarter on Monday. RF Industries shares dipped 12.8% to $3.75 in the after-hours trading session.</li>
</ul>
Check This Out:
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/09/40877520/if-you-want-steel-you-do-nucor-says-cramer-when-asked-about-gerdau">&#8216;If You Want Steel, You Do Nucor,&#8217; Says Cramer When Asked About Gerdau</a></li>
</ul>
Photo courtesy: Shutterstock

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Markets

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FERG

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NTRB

RFIL

Microsoft, Intel And 3 Stocks To Watch Heading Into Tuesday

The notes will be senior, unsecured obligations of Upstart. The notes will bear interest at a rate of&nbsp;2.00%&nbsp;per year. Interest will be payable semi-annually in arrears on April 1 and October 1 of each year, beginning on April 1, 2025. The notes will mature on October 1, 2029, unless earlier redeemed, repurchased, or converted. Upstart may not redeem the notes prior to October 6, 2027.

UPST

Upstart Prices Upsized Offering Of $375M Of 2.00% Convertible Senior Notes Due 2029

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Cybertruck Program Manager Siddhant Awasthi said on Monday that the EV giant will likely start delivering the <a href="https://www.benzinga.com/news/24/09/40849409/former-top-gear-host-james-may-thinks-a-vehicle-the-size-of-a-fiat-panda-but-styled-like-tesla-cyber">stainless steel truck</a> in Canada in late October.
What Happened: &#8220;Late October likely..&#8221; Awasthi wrote on the social media platform X, formerly Twitter. The Tesla engineer was responding to an X user who enquired whether any Cybertrucks would be delivered in Canada around the start of October.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Late October likely..
&mdash; Siddhant Awasthi (@siddawa) <a href="https://twitter.com/siddawa/status/1835541227237974033?ref_src=twsrc%5Etfw">September 16, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Tesla started delivering the Cybertruck to customers in November. It is currently limited to sales within the United States. 
However, in July, <a href="https://www.benzinga.com/news/24/07/39876213/tesla-confirms-it-aims-to-start-selling-cybertruck-in-canada-this-year-pre-orders-open-for-150">Tesla confirmed</a> that it intends to start delivering the vehicle in Canada this year. 
Pricing In Canada: The foundation series Cybertruck starts at C$137,990 ($101,505) for the all-wheel drive variant and at C$165,990 ($122,101) for the more premium Cyberbeast variant in Canada. 
On Tesla&#8217;s website, the estimated delivery time upon placing an order is October-November 2024. 
Tesla received <a href="https://www.benzinga.com/news/24/07/39870495/tesla-gets-green-light-from-canadian-government-to-deploy-steer-by-wire-system-clearing-path-for-cyb">key regulatory clearances</a> to sell the vehicle in Canada in July. 
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
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<li><a href="https://www.benzinga.com/news/24/09/40875440/elon-musk-says-there-is-a-need-for-a-space-telescope-with-far-larger-aperture-than-hubble">Elon Musk Says There Is A Need For A Space Telescope With &#8216;Far Larger Aperture&#8217; Than Hubble</a></li>
</ul>
Photo courtesy: Tesla

TSLA

Tesla Cybertruck Deliveries In Canada Expected In Late October

Harland &amp; Wolff, the historic UK shipbuilder known for constructing the Titanic, declared insolvency on Monday.
What Happened: The 163-year-old company announced it would likely enter administration in the coming days after failing to secure necessary funding. Administration allows UK companies to restructure instead of immediate liquidation.
Harland &amp; Wolff&#8217;s request for a £200 million ($264 million) facility from UK Export Finance was denied, leaving the company in a precarious financial state. Staff have been informed of job cuts in non-core operations and the holding company.
The company&#8217;s core operations, including its Belfast shipyard, will continue unaffected. The Belfast site, famous for building the Titanic, is currently involved in constructing three warships for the UK government.
See Also: <a href="https://www.benzinga.com/markets/equities/24/09/40848692/warren-buffetts-top-executive-ajit-jain-sells-over-half-his-berkshire-hathaway-stake-for-139m-am?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Warren Buffett&#8217;s Top Executive Ajit Jain Sells Over Half His Berkshire Hathaway Stake For $139M Amid Speculation On Stock Valuation And Kamala Harris&#8217;s Tax Policies</a>
Why It Matters: Interim executive director Russell Downs stated, &#8220;The group faces a very challenging time, given the overhang of significant historic losses and its failure to secure long-term financing.&#8221;
This is not the first time Harland &amp; Wolff has faced financial difficulties. In 2019, the British government appointed an administrator to restructure the firm, which was later acquired by UK energy company InfraStrata.
Despite these challenges, Harland &amp; Wolff remains focused on ship repairs and greener energy projects, including the Islandmagee Gas Storage Project in Northern Ireland.
A government spokesperson reiterated that administration proceedings would not impact the company&#8217;s ability to fulfill its contracts, including those for the UK&#8217;s Ministry of Defence, <a href="https://www.bbc.com/news/articles/crkddrv7v2po">according</a> to BBC.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/09/40868937/mary-trump-says-her-uncle-is-a-deeply-unwell-traitor-he-knows-he-just-needs-to-keep-it-close-enough?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mary Trump Says Her Uncle Is A &#8216;Deeply Unwell Traitor&#8217;: &#8216;He Knows He Just Needs To Keep It Close Enough So He Can Cheat&#8217;</a></li>
</ul>
Photo: LUM3N from Pixabay
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>

Titanic Shipbuilder Goes Insolvent After 163 Years, $264M Funding Request Denied By Authorities

ByeDance-owned TikTok, the widely-used social media platform for creating and sharing short-form videos, has encountered a doubtful panel of judges.
What Happened: TikTok and a group of creators are contesting a law, often referred to <a href="https://www.benzinga.com/news/24/04/38500093/tiktok-ban-courts-must-decide-whether-national-security-concerns-trump-freedom-of-expression">as &#8220;the TikTok ban,&#8221;</a> in front of a three-judge panel at&nbsp;the DC Circuit Court of&nbsp;Appeals. 
During oral arguments on Monday, the judges, Chief Judge Sri Srinivasan, Judge Neomi Rao, and Judge Douglas Ginsburg, seemed to scrutinize TikTok&#8217;s counsel more rigorously than the U.S. Department of Justice, <a href="https://www.theverge.com/2024/9/16/24246568/tiktok-v-garland-oral-arguments-dc-circuit">reported</a> The Verge.
The law mandates TikTok to separate from its Chinese parent company,&nbsp;ByteDance, by Jan. 19. TikTok contends that this ban would stifle&nbsp;its creators and limit the information accessible to Americans.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/40847304/huawei-might-be-giving-apple-a-run-for-its-money-in-china-but-replacing-the-tri-folds-screen-could-c?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Huawei Might Be Giving Apple A Run For Its Money In China, But Replacing The Tri-fold&#8217;s Screen Could Cost You An iPhone Worth Of Cash</a>
DOJ upheld the law, asserting it as a necessary step against a company seen as a <a href="https://www.benzinga.com/news/24/05/38693602/tiktok-admits-xi-jinpings-ccp-wont-let-its-algorithm-be-sold-after-biden-gives-9-months-to-divest-or">national security threat</a> due to its alleged connections to a foreign government.
The judges questioned the feasibility of asking TikTok to implement lesser measures, like disclosing its data and content moderation practices.
As Rao and Srinivasan noted, this approach would rely on trusting a company the government suspects of being controlled by a foreign adversary, the report noted.
At the end of TikTok&#8217;s argument, Ginsburg disputed the social media giant&#8217;s counsel Andrew Pincus&#8217; claim that the law targets the company.
The judge explained that it applies to <a href="https://www.benzinga.com/news/24/04/38460718/elon-musk-weighs-in-after-x-user-says-banning-tiktok-sets-a-precedent-that-government-can-ban-any-ap">foreign-controlled firms</a> and highlighted one facing urgent action <a href="https://www.benzinga.com/government/23/03/31372916/team-biden-reportedly-warns-tiktok-ban-unless-chinese-owners-divest-stake-meta-snap-shares-shoot-up">after years of stalled negotiations</a>.
The judges also raised doubts about whether creators genuinely have a First Amendment stake in TikTok&#8217;s ownership.
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: Earlier in June, TikTok argued that the U.S. could have <a href="https://www.benzinga.com/general/social-media/24/06/39424409/tiktok-argues-us-could-have-considered-alternatives-to-banning-app">considered alternatives</a> to banning the app to address national security concerns.
TikTok&#8217;s lawyers stated that the company had negotiated a 90-page national security agreement with the US government offering &#8220;multi-layered safeguards and enforcement mechanisms,&#8221; which Congress disregarded when enacting the TikTok ban.
Last week, it was reported that TikTok is strengthening its relationship with&nbsp;Amazon.com Inc. sparking rumors of a <a href="https://www.benzinga.com/news/24/09/40866761/is-amazon-eyeing-tiktok-for-a-possible-acquisition">potential acquisition</a>.
TikTok&#8217;s parent company ByteDance previously said that it would not be seeking a buyer for the social media giant.
In a court filing, TikTok also said, &#8220;The Chinese government has made clear that it would not permit a divestment of the recommendation engine that is a key to the success of TikTok in the United States.&#8221;
Photo by XanderSt on Shutterstock
Check out more of&nbsp;Benzinga&#8217;s&nbsp;Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/09/40848374/google-co-founder-sergey-brin-admits-company-was-too-timid-to-rollout-chatgpt-like-llms-despite-basi?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Google Co-Founder Sergey Brin Admits Company Was &#8216;Too Timid&#8217; To Rollout ChatGPT-Like LLMs Despite Basically Inventing Them</a></li>
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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.

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TikTok's Future Hangs In Balance As Judges Express Skepticism In US Court Battle

Macro Economic Events

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WisdomTree Trust Japan Total Dividend Fund

Japan Tertiary Industry Activity Index (MoM) For July 1.4% Vs. 0.8% Est.; -1.3% Prior

ChatGPT-parent OpenAI has announced&nbsp;an independent board oversight committee focused on safety and security. It was established in response to <a href="https://www.benzinga.com/news/24/05/39045139/sam-altmans-openai-responds-to-security-concerns-with-new-governance-team">ongoing security process controversies</a>.
What Happened: In a blog post on Monday, OpenAI revealed that the Safety and Security Committee, which was formed in May, will now function as&nbsp;an independent board oversight committee.
The committee will be led by Zico Kolter, the&nbsp;director of the machine learning&nbsp;department at Carnegie Mellon University's&nbsp;School of Computer Science.
Other&nbsp;members include Adam D'Angelo, an&nbsp;OpenAI board member and co-founder&nbsp;of Quora, <a href="https://www.benzinga.com/general/24/06/39401970/cant-wait-for-openai-to-have-access-to-my-phone-says-musk-as-former-nsa-chief-joins-openai-board">former NSA chief</a>&nbsp;and board member Paul Nakasone,&nbsp;and Nicole Seligman, former executive&nbsp;vice president at Sony.
See Also:&nbsp;<a href="https://www.benzinga.com/24/09/40868730/openais-o1-model-nvidias-ai-demand-googles-missed-opportunity-and-more-this-week-in-ai?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">OpenAI&#8217;s &#8216;O1&#8217; Model, Nvidia&#8217;s AI Demand, Google&#8217;s Missed Opportunity, And More: This Week In AI</a>
The committee&#8217;s mandate is to supervise &#8220;the&nbsp;safety and security processes guiding&nbsp;OpenAI's model deployment and development.&#8221;
It has completed a 90-day review of OpenAI's processes and safeguards, making recommendations to the board.
This includes establishing&nbsp;independent governance for safety and&nbsp;security, enhancing security measures, promoting transparency about OpenAI's work, collaborating with external organizations, and unifying the company's safety frameworks.
The committee will also oversee model launches, including&nbsp;the authority to delay a&nbsp;release until safety concerns are addressed.
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Why It Matters: OpenAI has faced&nbsp;controversy and <a href="https://www.benzinga.com/news/24/05/38834519/openai-chief-scientist-ilya-sutskever-steps-down-ceo-sam-altman-calls-him-a-guiding-light-of-ai-fiel">high-level employee departures</a>,&nbsp;with concerns&nbsp;that the company is growing&nbsp;too quickly to operate safely.
Currently, OpenAI is also pursuing a funding&nbsp;round that could value the <a href="https://www.benzinga.com/news/24/09/40825072/openais-valuation-could-skyrocket-to-150b-in-new-fundraising-positioning-it-among-the-worlds-most-va">company at over $150 billion</a>.&nbsp;Thrive Capital is leading the&nbsp;round with a <a href="https://www.benzinga.com/news/24/09/40864744/openais-150b-valuation-hinges-on-whether-sam-altman-led-ai-startup-can-remove-profit-cap-for-investo">planned investment of $1 billion</a>, with Tiger Global also expected to join. Microsoft, Nvidia, and Apple are reportedly in talks to invest.
The AI startup has also launched a new model, called &#8220;o1,&#8221; which is focused on&nbsp;<a href="https://www.benzinga.com/top-stories/24/09/40842891/openai-unveils-o1-model-a-step-closer-to-human-like-ai-but-not-without-flaws">reasoning and &#8220;solving hard problems.&#8221;</a>
Earlier this month, OpenAI acknowledged that o1 could potentially be <a href="https://www.benzinga.com/news/24/09/40870931/chatgpt-creator-openai-says-its-latest-models-pose-bioweapons-creation-risk-ai-giant-particularly-ca">misused for creating biological weapons</a>, rating it as having a "medium risk" for issues related to chemical, biological, radiological, and nuclear (CBRN) weapons.
Image via Shutterstock
Check out more of Benzinga'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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</ul>
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.

ChatGPT Parent OpenAI Establishes Oversight Committee For Safety Amid Recent Fears Of Biological Weapons Misuse Via o1 Model

Economist Peter Schiff has cautioned that the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40887448/long-dated-treasury-bond-etf-hits-14-month-highs-ahead-of-imminent-fed-rate-cut">upcoming rate cuts by the Federal Reserve</a> may not lower borrowing costs, according to a post on X on Monday.
What Happened: Schiff, known for his skepticism towards Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), stated that mortgage rates have likely already hit their lowest point and are expected to rise. 
He added that the Federal Reserve would likely return to quantitative easing (QE) to try and halt this increase.
Schiff warned that such actions would &#8220;crush the dollar and reignite #inflation.&#8221; 
Schiff wrote, &#8220;Rate hike, maybe 100 basis points. Plus, announce an expansion of QT,&#8221; in response to a user query on what he would do if he had control over the Federal Reserve&#8217;s decisions.
The Federal Open Market Committee is scheduled to meet on September 18. While a rate cut is anticipated, the exact size remains uncertain.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It&#39;s unlikely that the upcoming rate cuts will actually lower interest rates for most borrowers. For example, mortgage rates have likely already bottomed and are headed higher. The <a href="https://twitter.com/hashtag/Fed?src=hash&amp;ref_src=twsrc%5Etfw">#Fed</a> will return to QE to try to stop the rise. This will crush the dollar and reignite <a href="https://twitter.com/hashtag/inflation?src=hash&amp;ref_src=twsrc%5Etfw">#inflation</a>.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1835798900508336227?ref_src=twsrc%5Etfw">September 16, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/earnings/24/09/40874119/s-p-500-nasdaq-futures-mixed-as-rate-cut-hopes-weigh-on-techs-fund-manager-sees-near-term-correctio?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nasdaq, S&amp;P 500 Futures Sag In Fed Decision Week: What&#8217;s Going On</a>
Why It Matters: The Federal Reserve&#8217;s upcoming meeting has been a focal point for market participants, with significant debate surrounding the size of the anticipated rate cut. 
Sen.&nbsp;Elizabeth Warren&nbsp;(D-Mass.), along with Sen.&nbsp;Sheldon Whitehouse&nbsp;(D-R.I.) and Sen.&nbsp;John Hickenlooper&nbsp;(D-CO), urged the Fed to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40883274/senator-warren-urges-fed-to-slash-rates-by-0-75-veteran-investor-warns-even-0-5-cut">slash rates by 75 basis points</a>, citing the current federal funds rate at a two-decade high of 5.3%.
Investors are also speculating on the size of the cut, with a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40878710/investors-bet-on-50-basis-point-rate-cut-wall-street-analysts-urge-caution-this-is-">slight lean towards a 50-basis-point reduction</a>, according to CME Group's FedWatch tool, which showed a 65% probability for this outcome as of Monday morning.
Adding to the complexity, former President Donald Trump has expressed that <a href="https://www.benzinga.com/general/politics/24/09/40861372/trump-says-no-federal-rates-cuts-before-2024-election-republican-congress-members-say-the-time-i">there should be no rate cuts</a> before the 2024 presidential election.
Moreover, some analysts argue that rate cuts may not automatically boost the stock market, as the Federal Reserve&#8217;s actions might be more <a href="https://www.benzinga.com/markets/equities/24/09/40861213/why-interest-rate-cuts-wont-automatically-boost-the-stock-market">reactive to weakening growth</a> rather than proactive measures to stimulate the economy.
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</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>

$BTC

Peter Schiff Says Unlikely That Fed Rate Cuts Will Lower Borrowing Costs, Predicts Rising Mortgage Rates And Dollar Collapse — Suggests 100 Basis Points Rate Hike As Cure

Senate Majority Leader, Chuck Schumer (D-N.Y.), warned of potential blame for a government shutdown in a recent social media post.
What Happened: On Monday, Schumer took to X to express his views on the ongoing negotiations for a stopgap funding deal. 
He cautioned that if a government shutdown occurs due to &#8220;Republican poison pills,&#8221; the American public would hold them accountable. His post read, &#8220;If a shutdown happens because of Republican poison pills, the American people are going to hold them responsible. We don't need to go down this road.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If a shutdown happens because of Republican poison pills, the American people are going to hold them responsible. We don't need to go down this road.
&mdash; Chuck Schumer (@SenSchumer) <a href="https://twitter.com/SenSchumer/status/1835818857379832272?ref_src=twsrc%5Etfw">September 16, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/24/09/40869772/scaramucci-says-trump-loomer-union-marks-dangerous-shift-towards-extreme-nativism?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Scaramucci Says Trump-Loomer Union Marks Dangerous Shift Towards Extreme Nativism</a>
This tweet comes amidst rising tensions in Congress as lawmakers scramble to reach an agreement on the funding deal by midnight of Sept. 30. The deadline for the deal is fast approaching, and failure to reach a consensus could result in a government shutdown, reported Reuters.
Why It Matters: The stopgap funding deal is crucial to prevent a government shutdown, which could have significant implications for the U.S. economy. Schumer&#8217;s post highlights the urgency of the situation and the potential political fallout if an agreement is not reached.
House Speaker Mike Johnson's (R-La.) efforts to pass a bill were reportedly derailed due to lack of support from his own party, amid Republican infighting. Rep. Cory Mills (R-Fla.) voiced opposition, saying it hurts the military and is tied to unrelated voter legislation. If no deal is reached, essential services could be disrupted, with a potential voter backlash ahead of the Nov. 5 elections.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Politics

General

Chuck Schumer Says If Government Shutdown Happens It Will Because Of 'Republican Poison Pills' — 'The American People Are Going To Hold Them Responsible'

In a live stream on Monday, former President Donald Trump commended&nbsp;Tesla and SpaceX CEO Elon Musk for his significant role in propelling <a href="https://www.benzinga.com/news/24/07/39612042/elon-musks-spacex-launches-67-missions-in-first-half-of-2024-trailing-own-targets">U.S. space development</a> to new heights.
What Happened: During the&nbsp;live stream&nbsp;on X, formerly Twitter, Trump lauded Musk for his substantial contributions to the U.S. space sector. 
He said, &#8220;We were getting lapped in&nbsp;space by China and by&nbsp;Russia and now we are&nbsp;the leader in space.&#8221;
The former President added, &#8220;Elon&nbsp;Musk was doing a fantastic&nbsp;job, he's my friend. He&nbsp;endorsed me for President so&nbsp;strongly, it was incredible. He&nbsp;is doing an amazing job.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/40864500/elon-musk-has-secret-service-like-security-team-that-calls-him-voyager-growing-threats-after-tesla-a?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Has Secret Service-Like Security Team That Calls Him &#8216;Voyager:&#8217; Growing Threats After Tesla Austin Factory Scare Have Led To The Richest Man In The World Leading An Increasingly Isolated Lifestyle</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Join me live from Mar-A-Lago at 8:00PM Eastern, tonight on X Spaces. Set a reminder and be sure to tune in! <a href="https://t.co/MXTu3hxVFP">https://t.co/MXTu3hxVFP</a>
&mdash; Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/1835754983259558260?ref_src=twsrc%5Etfw">September 16, 2024</a></blockquote>
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Trump&#8217;s participation in this X Spaces session comes a day after <a href="https://www.benzinga.com/24/09/40869836/donald-trump-safe-and-unharmed-after-shooting-incident-at-florida-golf-club">another assassination attempt</a> on him at his Florida golf club on Sunday afternoon. 
Why It Matters: Musk&#8217;s company SpaceX has become a dominant force in space, controlling nearly two-thirds of all active satellites orbiting Earth, thanks to the rapid growth of his Starlink satellite network.
In just three years, the number of Starlink satellites has <a href="https://www.benzinga.com/news/24/09/40869627/elon-musk-now-controls-two-thirds-of-the-planets-satellites-and-spacex-is-just-getting-started-with">increased more than sixfold</a>.
Previously, Federal Communications Commission chair Jessica Rosenworcel called for <a href="https://www.benzinga.com/news/24/09/40848351/a-week-after-elon-musks-spacex-launched-7-000th-starlink-satellite-fcc-chair-jessica-rosenworcel-cal">increased competition in the space</a> industry. This call came a week after SpaceX launched its 7,000th Starlink satellite.
Amazon is gearing up to launch over <a href="https://www.benzinga.com/news/24/09/40877089/jeff-bezos-and-elon-musk-set-to-battle-for-dominance-in-the-sky-amazon-gears-up-to-launch-over-3-000">3,000 low-Earth-orbit satellites</a>, setting the stage for a face-off with SpaceX in the U.K.'s airspace. This move places Amazon's executive chairman, Jeff Bezos, in direct competition with Musk.
Despite the competition, Musk continues to make strides in space exploration. On Monday, the Polaris Dawn crew landed safely back to Earth in a SpaceX Dragon spacecraft after conducting the <a href="https://www.benzinga.com/news/24/09/40874384/elon-musk-reminisces-first-failed-launch-of-falcon-1-from-18-yrs-ago-after-historic-polaris-dawn-mis">first-ever commercial spacewalk</a>.
Photo Courtesy: Shutterstock.com
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

SPACE

SpaceX CEO Elon Musk Is Doing An Amazing Job, Says Trump Because Before The US Was Getting Lapped In Space By China And Russia: 'Now We Are The Leader'

Ahead of the 2024 presidential election, former President Donald Trump has announced a <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40800775/donald-trumps-world-liberty-financial-plans-to-raise-540m-with-token-sale">new cryptocurrency venture</a>, World Liberty Financial, aiming to revolutionize the digital currency landscape. The announcement was made on the X Spaces (formerly known as Twitter Spaces) livestream on Monday.
What Happened: Trump introduced the venture alongside his sons Barron Trump, Eric Trump, and Donald Trump Jr. The launch occurred just a day after the former president emerged unharmed from a second assassination attempt, adding another layer of shock to the already turbulent presidential race.
World Liberty Financial aims to promote the mass adoption of stablecoins, a type of cryptocurrency designed to maintain a constant value. The platform will feature a new cryptocurrency called $WLFI, which will be sold to the public.
"Crypto is one of those things we have to do," said Trump. "Whether we like it or not, I have to do it."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Join me live from Mar-A-Lago at 8:00PM Eastern, tonight on X Spaces. Set a reminder and be sure to tune in! <a href="https://t.co/MXTu3hxVFP">https://t.co/MXTu3hxVFP</a>
&mdash; Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/1835754983259558260?ref_src=twsrc%5Etfw">September 16, 2024</a></blockquote>
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Trump and his sons began promoting the venture on social media in August.
For years, Trump was a vocal critic of cryptocurrency, dismissing Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) as a &#8220;scam.&#8221; However, on the campaign trail, he has shifted his stance, becoming an outspoken advocate. He has spoken at a prominent industry conference and garnered donations from crypto executives.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40847331/gary-gensler-led-sec-directs-crypto-firm-to-halt-trading-for-all-coins-but-bitcoin-ethereu?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Gary Gensler-Led SEC Directs Crypto Firm To Halt Trading For All Coins But Bitcoin, Ethereum, And Bitcoin Cash — What Does It Mean?</a>
Why It Matters: The launch of World Liberty Financial comes on the heels of several significant developments in the Trump family&#8217;s foray into cryptocurrency. 
In August, Trump announced a new crypto platform called &#8220;The DeFiant Ones&#8220;, aimed at challenging traditional banking systems. This marked a notable shift in his <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40515026/donald-trump-launches-crypto-platform-the-defiant-ones-to-challenge-traditional-banking-sy">stance on digital currencies</a>.
However, the venture has not been without controversy. Earlier in September, the Trump brothers&#8217; cryptocurrency startup faced backlash from Trump&#8217;s crypto allies, who labeled it a &#8220;huge mistake.&#8221; The project has reportedly <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40760191/trump-brothers-cryptocurrency-start-up-rattles-fathers-crypto-allies-this-is-a-huge-mistak">encountered several setbacks</a>, including hacking incidents and concerns over its ties to a blockchain company that lost $2 million due to security breaches.
Additionally, the project aims to <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40800775/donald-trumps-world-liberty-financial-plans-to-raise-540m-with-token-sale">raise $540 million through a token sale</a>. The sale will involve 30% of its $WLFI tokens, potentially generating significant funds. However, the allocation of 70% of tokens to insiders has sparked debate.
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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>

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

Cryptocurrency

Trump Introduces 'World Liberty Financial,' Aims To Encourage Stablecoin Adoption With Sons Leading The Charge: 'Crypto Is One Of Those Things We Have To Do'

On Monday, major U.S. indices showed mixed results. The Dow Jones Industrial Average closed 0.5% higher at 41,622.08, while the S&amp;P 500 edged up 0.1% to 5,633.09. Meanwhile, the Nasdaq fell by 0.5%, closing at 17,592.13.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>)
Intel shares surged by 6.36% to close at $20.91, after reports that the company <a href="https://www.benzinga.com/news/24/09/40886674/intel-shares-jump-on-reports-of-possible-3-billion-military-chip-funding">could receive up to $3 billion in federal funding</a> to produce semiconductors for U.S. military applications. The potential grant is part of the CHIPS and Science Act&#8217;s Secure Enclave program, which aims to secure a domestic supply of advanced chips critical for defense and intelligence purposes.
Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)
Microsoft shares saw a slight increase of 0.17% to close at $431.34. The tech giant announced a <a href="https://www.benzinga.com/markets/equities/24/09/40890217/microsoft-announces-60b-share-buyback-program-10-dividend-increase-amid-rising-ai-investment-and">new share repurchase program</a> worth up to $60 billion and declared a quarterly dividend of $0.83 per share, marking a 10% increase from the previous quarter. 
See Also: <a href="https://www.benzinga.com/markets/equities/24/09/40874566/apple-shares-slide-in-monday-premarket-whats-souring-sentiment?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple Shares Slide In Monday Premarket: What&#8217;s Souring Sentiment?</a>
Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)
Meta Platforms shares rose by 1.75% to close at $533.28. The company has <a href="https://www.benzinga.com/24/09/40878709/how-metas-bold-move-to-train-ai-with-uk-social-media-data-defies-eu-laws-amid-struggling-stock-perfo">decided to use</a> U.K. Facebook and Instagram posts to train its AI systems, despite this practice being prohibited under EU privacy laws. 
Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>)
Pfizer shares increased by 2.73% to close at $30.07. Ron DeSantis-governed Florida is <a href="https://www.benzinga.com/general/biotech/24/09/40881276/desantis-administration-cautions-against-pfizer-moderna-mrna-covid-vaccines-for-vulnerable-indivi">raising concerns</a> about the safety of the mRNA vaccines, pointing to potential risks such as myocarditis and postural orthostatic tachycardia syndrome (POTS), rare heart conditions.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla shares dropped by 1.54% to close at $226.74. Electric vehicle (EV) registrations in July in the U.S. reportedly marked an 18% increase as compared to the same month last year <a href="https://www.benzinga.com/news/24/09/40873304/teslas-cybertruck-sales-in-july-nearly-matched-those-of-all-over-ev-trucks-combined-report">owing to the success</a> of the Tesla Cybertruck. 
Photo by Phongphan on Shutterstock
Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> by Benzinga.
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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>

Equities

Intel, Microsoft, Meta Platforms, Pfizer, Tesla: Why These 5 Stocks Are On Investors' Radars Today

On Monday, Cathie Wood-led Ark Invest made significant trades, with Robinhood Markets Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) and Palantir Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) being the most prominent.
The HOOD Trade: Ark Invest&#8217;s Ark Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>) fund sold 18,961 shares of Robinhood in a trend that <a href="https://www.benzinga.com/markets/equities/24/09/40846595/cathie-woods-ark-invest-buys-6-9m-worth-of-shares-of-nvidia-rival-amd-sells-palantir-and-robinho">continues from the previous week</a>. This move follows Robinhood&#8217;s <a href="https://www.benzinga.com/news/24/09/40798894/robinhood-reaches-3-9m-settlement-with-california-over-blocking-cryptocurrency-withdrawals">recent agreement</a> to a $3.9 million settlement with California&#8217;s Department of Justice over its past ban on Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) cryptocurrency withdrawals. 
Despite this, Robinhood has been transitioning from a meme stock trading platform to a more mature and competitive player against traditional brokerages. Based on Robinhood&#8217;s closing price of $22.21 on the same day, the value of the trade is approximately $421,123. 
The PLTR Trade: Ark Invest&#8217;s ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) fund sold 4,407 shares of Palantir. The firm had been offloading Palantir shares last week as well. 
This sale after Palantir&#8217;s stock soared by 14.08% following the announcement that the company <a href="https://www.benzinga.com/news/24/09/40797656/whats-going-on-with-palantir-stock">will join the S&amp;P 500 index</a>. Based on Palantir&#8217;s closing price of $36.31 on the same day, the value of the trade is approximately $160,018. 
Other Key Trades:
<ul>
<li>Ark Invest&#8217;s ARKG fund bought shares of Guardant Health Inc (GH). </li>
<li>Ark Invest&#8217;s ARKG fund sold shares of Veracyte Inc (VCYT). Ark Invest&#8217;s ARKK fund bought shares of Shopify Inc (SHOP). </li>
<li>Ark Invest&#8217;s ARKK fund sold shares of Roku Inc (ROKU). Ark Invest&#8217;s ARKQ fund sold shares of Materialise NV (MTLS).</li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/09/40890217/microsoft-announces-60b-share-buyback-program-10-dividend-increase-amid-rising-ai-investment-and">Microsoft Announces $60B Share Buyback Program, 10% Dividend Increase Amid Rising AI Investment And Restructuring</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>

ETFs

ARKF

ARKK

HOOD

PLTR

Cathie Wood's Monday Maneuvers: Ark Invest Continues To Offload Robinhood And Palantir Shares

Tesla and SpaceX CEO Elon Musk&nbsp;has been facing backlash for a contentious post on his social media platform, X, formerly Twitter, which <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">he later removed</a>. The White House has criticized the post, terming it as &#8220;irresponsible.&#8221;
What Happened: Over the weekend, Musk stirred controversy by questioning why &#8220;no one is even trying&#8221; to assassinate President Joe Biden or Democratic presidential nominee Kamala Harris.
The post was made in the wake of the <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 former President Donald Trump.&nbsp;
Many people including White House spokesperson, Andrew Bates, condemned the post, stating that &#8220;violence&nbsp;should only be condemned, never encouraged or joked about. This rhetoric is irresponsible,&#8221; <a href="https://thehill.com/homenews/administration/4883077-white-house-elon-musks-kamala-harris/">reported</a> The Hill. 
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/40846236/i-have-a-bad-feeling-about-this-elon-musk-is-alarmed-about-moscow-nato-conflict-risk-if-ukraine-allo?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;I Have A Bad Feeling About This&#8217; — Elon Musk Is Alarmed About Moscow-NATO Conflict Risk If Ukraine Allowed To Strike Deep Into Russia</a>
Following the outrage, the Tesla CEO deleted the post and said that it was a joke. He stated, &#8220;Turns&nbsp;out that jokes are WAY&nbsp;less funny if people don't&nbsp;know the context and the&nbsp;delivery is plain text.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Turns out that jokes are WAY less funny if people don't know the context and the delivery is plain text
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1835574495467159607?ref_src=twsrc%5Etfw">September 16, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
In another post he said, &#8220;Well, one lesson I've learned is that just because I say something to a group and they laugh doesn't mean it's going to be all that hilarious as a post on X.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Well, one lesson I've learned is that just because I say something to a group and they laugh doesn't mean it's going to be all that hilarious as a post on &#120143;
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1835573866271330307?ref_src=twsrc%5Etfw">September 16, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: A man named Ryan Wesley Routh was charged with <a href="https://www.benzinga.com/general/politics/24/09/40882524/man-accused-in-trump-assassination-attempt-could-face-15-years-for-federal-gun-crimes-whats-next">two federal gun-related offenses</a> in connection with his attempted assassination of Trump.
Following the assassination attempt, <a href="https://www.benzinga.com/news/24/09/40870455/trump-vows-to-never-surrender-after-surviving-second-assassination-attempt">Trump confirmed his safety</a> and vowed to &#8220;never surrender.&#8221; The incident occurred near Trump's Florida property.
Both President Biden and Vice President Harris have expressed <a href="https://www.benzinga.com/news/24/09/40870341/kamala-harris-biden-express-relief-that-trump-is-unhurt-after-second-assassination-attempt-i-am-glad">relief over Trump&#8217;s safety</a> and condemned the act of political violence.
This was the second attempt on the former president&#8217;s life ahead of the 2024 election. The previous one took place on July 13, and the <a href="https://www.benzinga.com/news/24/07/39761846/trump-left-bloodied-after-shots-fired-at-pennsylvania-rally-evacuated-by-secret-service">former President was left bloodied</a> and had to be evacuated by the Secret Service.
Image via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/personal-finance/24/09/40799246/elon-musks-ex-wife-and-mom-of-5-says-he-was-willing-to-give-up-his-fortune-for-space-goals-even-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s Ex-Wife And Mom Of 5 Says He Was Willing To Give Up His Fortune For Space Goals, Even If It Meant Moving In With Her Parents</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Elon Musk Says His Now Deleted Controversial Post After Latest Trump Assassination, Which Was Labeled 'Irresponsible' By The White House,' Was A Joke: 'Way Less Funny If People Don't Know The Context'

Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) announced a new share repurchase program worth up to $60 billion on Monday.
What Happened: The tech giant also declared a quarterly dividend of $0.83 per share, marking a 10% increase from the previous quarter. The company will hold its annual shareholders meeting on Dec. 10.
In July, Microsoft revealed plans to increase spending on artificial intelligence infrastructure this fiscal year. The company reported a 77.6% rise in capital expenditures for the quarter ending Jun. 30, <a href="https://www.benzinga.com/news/earnings/24/07/40051051/microsoft-q4-earnings-highlights-revenue-beat-eps-beat-cloud-revenue-up-21-yoy-ensuring-we-lead-the">primarily due to AI-related costs</a>.
Despite a slowdown in growth for its Azure cloud <a href="https://www.benzinga.com/news/earnings/24/07/40051051/microsoft-q4-earnings-highlights-revenue-beat-eps-beat-cloud-revenue-up-21-yoy-ensuring-we-lead-the">business in the last quarter</a>, Microsoft expects growth to accelerate in the second half of fiscal 2025. 
See Also: <a href="https://www.benzinga.com/markets/equities/24/09/40848692/warren-buffetts-top-executive-ajit-jain-sells-over-half-his-berkshire-hathaway-stake-for-139m-am?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Warren Buffett&#8217;s Top Executive Ajit Jain Sells Over Half His Berkshire Hathaway Stake For $139M Amid Speculation On Stock Valuation And Kamala Harris&#8217;s Tax Policies</a>
Last month, Microsoft restructured its business unit reporting, moving some search and news advertising revenue under the Azure cloud-computing unit. 
This move follows Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)&#8217;s record $110 billion share buyback <a href="https://www.benzinga.com/news/earnings/24/05/38599545/apple-q2-earnings-beats-muted-forecast-on-services-mac-strength-installed-base-at-fresh-record-cupe">program announced in May</a>.
Why It Matters: The announcement of the $60 billion share buyback program comes amid significant structural changes within Microsoft. 
Recently, the company cut <a href="https://www.benzinga.com/trading-ideas/24/09/40857729/microsofts-job-cuts-in-the-gaming-division-post-activision-blizzard-acquisition-signal-a-major-shak">about 650 jobs</a> in its gaming division following its $69 billion acquisition of Activision-Blizzard. This restructuring aims to streamline operations and enhance efficiency within the expanded gaming portfolio.
Additionally, Microsoft has been focusing on <a href="https://www.benzinga.com/news/24/09/40852195/microsoft-hires-former-ge-cfo-carolina-dybeck-happe-as-coo-to-boost-cloud-and-ai-focus">strengthening its cloud and AI capabilities</a>. The company recently appointed Carolina Dybeck Happe as its new EVP and COO to bolster its cloud services and AI initiatives. This move is part of Microsoft&#8217;s strategy to compete with Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) in the cloud services market.
Moreover, Microsoft&#8217;s investment in AI is underscored by its involvement with OpenAI, which is seeking <a href="https://www.benzinga.com/news/24/09/40864744/openais-150b-valuation-hinges-on-whether-sam-altman-led-ai-startup-can-remove-profit-cap-for-investo">a $150 billion valuation</a>. This partnership highlights Microsoft&#8217;s commitment to advancing artificial general intelligence and maintaining a competitive edge in the AI sector.
Price Action: Microsoft&#8217;s stock closed at $431.34 on Monday, up 0.17% for the day. In after-hours trading, the stock rose by an additional 0.73%. Year to date, Microsoft has seen a strong performance, with its stock up by 16.30%, according to <a href="https://www.benzinga.com/pro/login">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/09/40866592/swifties-rally-for-kamala-harris-taylor-swift-superfan-organizes-online-push-for-democratic-ticket?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Swifties Rally For Kamala Harris: Taylor Swift Superfan Organizes Online Push For Democratic Ticket</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>

Buybacks

AAPL

AMZN

GOOGL

Microsoft Announces $60B Share Buyback Program, 10% Dividend Increase Amid Rising AI Investment And Restructuring

The upcoming 2024 presidential race between Donald Trump and Kamala Harris has economists leaning toward Harris&#8217;s economic strategies. A recent Wall Street Journal <a href="https://www.wsj.com/opinion/harris-is-the-safer-economic-choice-2024-presidential-election-ea06b8bf?mod=commentary_article_pos2#comments_sector">opinion piece</a> by Obama-era economist Jason Furman suggests that Harris&#8217;s economic proposals are seen as less risky for the economy compared to Trump&#8217;s. This is despite both candidates holding undergraduate degrees in economics.
What Happened: Trump&#8217;s proposed tariffs, including a 10% tariff on all U.S. imports and a 60% tariff on Chinese goods, are viewed as a significant economic threat by Furman.
These tariffs would cover $4 trillion of imports, a substantial increase from President Joe Biden&#8217;s tariffs which covered $18 billion. 
Conversely, Harris has shown a more restrained approach towards tariffs and has proposed expanding the Child Tax Credit and extending the expiring tax cuts for those earning below $400,000. 
Trump&#8217;s proposed budget measures could add more than $5 trillion to the deficit, while Harris&#8217;s proposals could lead to a $1.5 trillion deficit increase.
&#8220;Trump often listened to sensible advisers and walked away from some terrible economic policies as president,&#8221; wrote Furman. 
&#8220;Some of his defenders believe he will do so again—and I hope they're right. For my money, though, I recommend taking him at his word and voting accordingly.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/09/40867103/nate-silver-if-trump-loses-he-will-have-let-election-slip-out-of-his-grasp-as-underlying-factors-fav?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nate Silver: If Trump Loses, He Will Have Let Election &#8216;Slip Out Of His Grasp&#8217; As Underlying Factors Favor Him Despite Harris&#8217; Poll Lead</a>
Why It Matters: Former President Trump earned a Bachelor of Science in economics from the Wharton School at the University of Pennsylvania, while Vice President Harris graduated from Howard University in Washington, D.C., with a degree in political science and economics.
Trump&#8217;s tariff proposals have been criticized by economists, including Furman in the past. He questioned the logic behind the tariffs, highlighting the potential economic repercussions and the <a href="https://www.benzinga.com/news/24/09/40824903/obama-era-economist-blasts-trump-tariffs-who-do-you-think-is-going-to-pay-for-all-the-foreign-tariff">cost of retaliatory measures</a> from other countries.
Harris&#8217;s economic focus on American families has been contrasted against Trump's alleged emphasis on corporate tax cuts in her <a href="https://www.benzinga.com/news/24/09/40687930/kamala-harriss-new-ad-campaign-focused-takes-a-dig-at-trumps-economic-policies">recent ad campaign</a>. Harris&#8217;s campaign spokesperson, Charles Kretchmer Lutvak, stated that the election boils down to which candidate is focused on the American people.
However, Harris&#8217;s proposals have also sparked debate. Former Trump administration economist Kevin Hassett expressed <a href="https://www.benzinga.com/personal-finance/24/08/40445072/former-trump-administration-economist-says-hes-horrified-by-kamala-harriss-chilling-economic-pro">strong opposition</a> to Harris&#8217;s proposals, calling them &#8220;chilling&#8221; and likening them to &#8220;communism plain and simple.&#8221; 
Image Courtesy: Shutterstock.com
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

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