Kintetsu Department Store Stock (OTC: KNTTF)

Kintetsu Department Store (OTC:KNTTF) Stock, Quote.Headers.trade-ideas

Kintetsu Department Store Co Ltd is principally engaged in operating department store business in the Kansai region of Japan. The company offers a broad range of merchandise, including apparel, cosmetics, medicine, jewelry, accessories, travel goods, household electric appliances, and other. Kintetsu Department Store provides complementary functions, including restaurants, coffee shops, and other services, like hotel delivery service, home delivery service, luggage storage, sightseeing information services, and other.

KINTETSU DEPARTMENT STORE by Kintetsu Department Store Co Ltd.

Kintetsu Department Store Co Ltd

VIRI

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

SRRK

Trading Halt: Halted at 6:58:43 a.m. ET - Trading Halt: Halt News Pending

HC Wainwright &amp; Co. analyst Andrew Fein reiterates KalVista Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KALV#NASDAQ">KALV</a>) with a Buy and maintains $20 price target.

News

Price Target

Reiteration

Analyst Ratings

KALV

HC Wainwright & Co. Reiterates Buy on KalVista Pharma, Maintains $20 Price Target

Genco Shipping &amp; Trading Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GNK#NYSE">GNK</a>) ("Genco" or the "Company"), the largest U.S. headquartered drybulk shipowner focused on the global transportation of commodities, has agreed to acquire a 2016-built 180,000 dwt high-specification Capesize vessel for a purchase price of $47.5 million.
Genco expects to take delivery of the vessel, to be named the Genco Intrepid, within the next 30 days, and intends to fund the acquisition with cash on hand and a drawdown from its revolving credit facility.

Genco Acquires $47.5M Capesize Vessel, Expands Its Drybulk Fleet

In a recent development, David Roche, a strategist at Quantum Strategy, has raised alarms over the Federal Reserve&#8217;s decision to slash interest rates by 50 basis points. 
What Happened: Roche argues that the rate cut gives a misleading impression of economic weakness, despite strong employment data, CNBC <a href="https://www.cnbc.com/video/2024/10/07/david-roche-misleading-50-basis-point-fed-cut-to-create-market-instability.html">reported</a> on Monday. 
&#8220;The U.S. economy in contrast to Europe or Japan is a very dynamic and robust economy and it does not need rock bottom interest rates like the European economy does,&#8221; he said.
&#8220;By cutting hard in the beginning, you give the impression that there will be more jumbo cuts of 50% and therefore you will reach a level of interest rates which is way below where you&#8217;re going, which will result in market instability when the market wakes up to that fact, that&#8217;s the damage you do.&#8221;
See Also: <a href="https://www.benzinga.com/news/earnings/24/10/41181506/us-stocks-on-edge-as-traders-brace-for-crucial-jobs-report-why-this-fund-manager-says-ai-stocks-jus?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Why US Stock Futures Are Narrowly Mixed Ahead Of Jobs Data</a>
Addressing employment, Roche noted that while the job market has softened, it has not resulted in significant layoffs. Instead, the challenge lies in new hires, which he believes does not justify the need for substantial rate cuts.
Why It Matters: The Federal Reserve&#8217;s decision to cut rates has sparked significant debate among economists and financial experts. The recent <a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41187740/blowout-september-jobs-report-spurs-reactions-6-economists-say-aggressive-fed-rat">September jobs report</a> showed U.S. payrolls increasing by 254,000 and the unemployment rate dropping to 4.1%, with wage growth exceeding expectations. These strong figures have led many economists to question the necessity of aggressive rate cuts, advocating for a more gradual approach.
Additionally, former Treasury Secretary Larry Summers criticized the <a href="https://www.benzinga.com/news/24/10/41195198/former-treasury-secretary-larry-summers-slams-feds-september-rate-cut-saying-it-was-a-mistake-todays">Fed&#8217;s September rate cut</a>, calling it a mistake in light of the robust job growth data. Summers&#8217; comments add to the growing skepticism about the Fed&#8217;s recent actions, highlighting concerns about potential market instability.
Price Action: On Monday&#8217;s pre-market, at the time of writing, SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) which tracks the S&amp;P 500 was trading 0.44% lower at $570.45 while Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) was 0.57% lower at $484.56, as per <a href="https://pro.benzinga.com">Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41184080/us-economy-adds-254-000-new-jobs-in-september-smashes-expectations-unemployment-f?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">US Economy Adds 254,000 New Jobs In September, Smashes Expectations: Unemployment Falls, Wages Increase (UPDATED)</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.
Image via Federal Reserve

Analyst Color

Economics

General

David Roche Warns Of Market Instability From Fed's 50-Basis Point Cut: 'US Economy Is Robust...Does Not Need Rock Bottom Interest Rates'

On Friday, October 4th, U.S. markets closed higher, as the Dow closed at a record high and the Nasdaq gained over 1% after a stronger-than-expected jobs report eased concerns about economic weakness. U.S. job gains surged, reducing the likelihood of further aggressive rate cuts by the Fed.
According to economic data, the U.S. added 254,000 jobs in September, beating the 147,000 forecast, while the unemployment rate fell from 4.1% to 4.2%.
Most S&amp;P 500 sectors closed higher, led by consumer discretionary, financials, and communication services, while real estate and utilities fell.
The Dow Jones Industrial Average was up 0.81% and closed at 42,352.75. The S&amp;P 500 ended the day higher by 0.90% at 5,751.07, and the Nasdaq Composite rose 1.22%, finishing the session at 18,137.85.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Asian Markets Today
<ul>
<li>On Monday, Japan's Nikkei 225 closed the session higher by 2.05% at 39,405.50, led by gains in the Mining, Chemical, Petroleum &amp; Plastic and Power sectors.</li>
<li>Australia's S&amp;P/ASX 200 ended the day higher by 0.68% at 8,205.40, led by gains in the IT, Financials and Consumer Discretionary sectors.</li>
<li>India's Nifty 50 was trading lower by 0.88% at 24,794.95, and Nifty 500 was down 1.52% at 23,178.45.</li>
<li>China Markets closed for the National Day holiday.</li>
<li>Hong Kong's Hang Seng rose 1.60%, ending the day at 23,099.78.</li>
</ul>
Eurozone at 06:00 AM ET
<ul>
<li>The European STOXX 50 index declined 0.01%.</li>
<li>Germany's DAX was down 0.20%.</li>
<li>France's CAC was up 0.17%.</li>
<li>U.K.'s FTSE 100 index traded higher by 0.35%.</li>
</ul>
Commodities at 06:00 AM ET
<ul>
<li>Crude Oil WTI was trading higher by 2.49% at $76.24/bbl, and Brent was up 2.15% at $79.75/bbl.</li>
<li>Natural Gas was down 1.16% at $2.821.</li>
<li>Gold was trading higher by 0.34% at $2,676.80, Silver fell 0.62% to $32.193, and Copper slid 0.33% to $4.5585.</li>
</ul>
US Futures at 06:00 AM ET
Dow futures were down 0.44%, S&amp;P 500 futures fell 0.52%, and Nasdaq 100 Futures declined 0.66%.
Forex at 06:00 AM ET
The U.S. dollar index rose 0.08% to 102.60, the USD/JPY was down 0.21% to 148.38, and the USD/AUD gained 0.06% to 1.4734.
Photo by Pavel Bobrovskiy via Shutterstock

Asia

Emerging Markets

Eurozone

Futures

Commodities

Forex

Markets

ADIV

AGOV

ASHR

BBEU

CQQQ

PowerShares DBmmodity Index Optimum Yield Diversified Fund

EEMA

FLAX

CurrencyShares British Pound Sterling Trust

IEMG

IEUR

KraneShares Trust KraneShares S&P Pan Asia Dividend Aristocrats Index ETF

KDIV

SPEM

USDU

PowerShares DB US Dollar Index Bullish Fund

Asia And Europe Markets Mixed, Crude Rises 2.5% – Global Markets Today While US Slept

HC Wainwright &amp; Co. analyst Matthew Caufield initiates coverage on DiaMedica Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DMAC#NASDAQ">DMAC</a>) with a Buy rating and announces Price Target of $7.

Initiation

DMAC

HC Wainwright & Co. Initiates Coverage On DiaMedica Therapeutics with Buy Rating, Announces Price Target of $7

Albemarle&#39;s&nbsp;operating structure will transition from two core global business units &ndash; Energy Storage and Specialties &ndash; to a fully integrated functional model designed to increase agility, deliver significant cost savings and maintain long-term competitiveness.&nbsp;
Albemarle&nbsp;will continue to report results across its three existing operating segments: Energy Storage, Specialties and Ketjen.
As part of this change, effective&nbsp;Nov. 1:
<ul>
<li>Specialties Business President&nbsp;Netha Johnson&nbsp;will become chief operations officer and continues to report to Chairman and CEO&nbsp;Kent Masters.</li>
<li>Energy Storage Business President&nbsp;Eric Norris&nbsp;will become chief commercial officer and continues to report to Masters.</li>
</ul>

Albemarle Reveals New Operating Structure; To Transition From Two Core Global Business Units – Energy Storage And Specialties – To Fully Integrated Functional Model

Barnes Group Agrees To Be Acquired By Apollo Funds For $3.6B; Barnes Shareholders To Receive $47.50 Per Share In Cash

HC Wainwright &amp; Co. analyst Heiko Ihle reiterates enCore Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EU#NASDAQ">EU</a>) with a Buy and maintains $7 price target.

HC Wainwright & Co. Reiterates Buy on enCore Energy, Maintains $7 Price Target

HC Wainwright &amp; Co. analyst Robert Burns maintains BioNTech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNTX#NASDAQ">BNTX</a>) with a Buy and raises the price target from $113 to $150.

BNTX

HC Wainwright & Co. Maintains Buy on BioNTech, Raises Price Target to $150

The most oversold stocks in the financials sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the <a href="https://www.benzinga.com/topic/rsi">RSI is below 30</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3 class="wp-block-heading">Apollo Commercial Real Estate Finance Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARI#NYSE">ARI</a>)</h3>
<ul>
<li>On Aug. 6, the company posted upbeat quarterly earnings. The company's stock fell around 13% over the past month and has a <a href="https://www.benzinga.com/quote/ARI">52-week low of $8.76</a>.</li>
<li>RSI Value: 25.60</li>
<li>ARI Price Action: Shares of Apollo Commercial Real Estate Finance fell 0.13 to close at $8.89 on Friday.</li>
<li>Benzinga Pro's real-time newsfeed alerted to <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent100724&amp;t=be2bearmibe3na1">latest ARI news</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent100724&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="915" height="838" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07063841/image-29.png" alt="" class="wp-image-583067" style="width:737px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07063841/image-29.png 915w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07063841/image-29-300x275.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07063841/image-29-768x703.png 768w" sizes="(max-width: 915px) 100vw, 915px" /></a></figure>
<h3 class="wp-block-heading">Ready Capital Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RC#NYSE">RC</a>)&nbsp;&nbsp;</h3>
<ul>
<li>On Sept. 16, Piper Sandler analyst Crispin Love maintained Ready Capital with a Neutral and lowered the price target from $9.5 to $8.. The company's stock fell around 7% over the past month. It <a href="https://www.benzinga.com/quote/RC">has a 52-week low</a> of $7.23.</li>
<li>RSI Value: 29.84</li>
<li>RC Price Action: Shares of Ready Capital fell 1% to close at $7.31 on Friday.</li>
<li>Benzinga Pro&#8217;s charting tool helped identify the <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent100724&amp;t=be2bearmibe3na1">trend in RC stock</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent100724&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="923" height="842" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07063841/image-29.png" alt="" class="wp-image-583068" style="width:691px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07063841/image-29.png 923w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07063841/image-29-300x274.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07063841/image-29-768x701.png 768w" sizes="(max-width: 923px) 100vw, 923px" /></a></figure>
<h3 class="wp-block-heading">Ellington Financial Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFC#NYSE">EFC</a>)</h3>
<ul>
<li>On Aug. 6, Ellington Financial posted weaker-than-expected quarterly results. &#8220;Driven by broad-based contributions from our diversified credit and Agency portfolios, as well as from our reverse mortgage platform Longbridge, Ellington Financial generated a non-annualized economic return of 4.5% for the second quarter, and grew adjusted distributable earnings and book value per share sequentially,&#8221; said Laurence Penn, Chief Executive Officer and President. The company's shares fell around 5% over the past month and has a 52-week <a href="https://www.benzinga.com/quote/EFC">low of $10.88</a>.</li>
<li>RSI Value: 29.38</li>
<li>EFC Price Action: Shares of Ellington Financial fell 0.3% to close at $12.46 on Friday. </li>
<li>Benzinga Pro&#8217;s signals feature notified of a potential <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent100724&amp;t=be2bearmibe3na1">breakout in EFC shares</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent100724&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="898" height="836" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07063906/image-30.png" alt="" class="wp-image-583069" style="width:669px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07063906/image-30.png 898w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07063906/image-30-300x279.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07063906/image-30-768x715.png 768w" sizes="(max-width: 898px) 100vw, 898px" /></a></figure>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/24/10/41196046/wall-streets-most-accurate-analysts-give-their-take-on-3-energy-stocks-delivering-high-dividend-yiel">Wall Street&#8217;s Most Accurate Analysts Give Their Take On 3 Energy Stocks Delivering High-Dividend Yields</a></li>
</ul>

Long Ideas

Pre-Market Outlook

Trading Ideas

Top 3 Financials Stocks That May Jump This Quarter

U.S. stock futures are headed lower on Monday after the jobs data-induced strength seen in the final session of last week. The mood has been rendered cautious as traders await a few key first-tier economic data and the minutes of the <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">Federal Reserve&#8217;s September rate-setting meeting.</a>
The imminent third-quarter reporting season could force traders to stay on the sidelines as corporate profit growth has been a major driving factor for the market amid economic uncertainties. JP Morgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) kickstarts the big bank reporting season this Friday.
The Middle East tensions that have sent oil on the boil could also be a spot a bother for traders even as they look ahead to soft-landing, facilitated by the Fed&#8217;s rate cuts.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.66%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.53%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.44%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.74%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Monday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) slipped 0.57% to $569.72 and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) moved 0.69% lower to $483.97, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Week:
U.S. stocks kept the winning streak going, as the major indices rose for a fourth straight week but the gains were much more modest and came amid volatility. The 30-stock Dow Jones Industrial Average finished at a fresh record. Small-cap stocks, however, posted a moderate decline for the week.
Stocks started the week higher amid caution but pulled back on Tuesday, dragged by geopolitical tensions, worries concerning the dockworkers&#8217; strike and weak manufacturing data. The major averages reversed course on Wednesday, despite ongoing headwinds, but retreated on Thursday as traders processed a mixed set of economic data and remained cautious amid Middle East tensions and the port strike.
Stronger-than-expected non-farm payroll gains, although generating some sell-off in early trading, lifted the averages higher thereafter, helping them to recoup all their losses for the week.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+0.10%</td>
<td>18,137.85</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.23%</td>
<td>5,751.07</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.09%</td>
<td>42,352.75</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.54%</td>
<td>2,212.80</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
The market could be stuck in the recent trading range until the November election, said Ivan Martchev, investment strategist at Navellier &amp; Associates. The strategist said the same type of trading seen in July, when marginal new highs were met with selling into strength, most notably in the tech sector, is repeating now. There has been rotation into value stocks but the pace of this rotation has been slow in the recent week, he said.
The strategist blamed the situation in the Middle East for the profit-taking. That said, a large downside is unlikely, he said.
&#8220;But it does suggest one shouldn't look for the market to run higher or make anything more than marginal new highs before the election in early November,&#8221;&nbsp;Martchev said.
&#8220;We could be in for a continuation of the trading range that started in the middle of July.&#8221;
Carson Group Chief Investment Strategist Ryan Detrick also raised a red flag. The S&amp;P 500 Index rose 34.4% year-over-year in September this year, and six times in the past, the index had gained over 30% in September versus the year ago, the strategist said. Only once out of the six times, did the index post gains for October and the average return for the fourth quarter was also below-average, he added.
<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">The S&amp;P 500 is up nearly 35% YoY the past 12 months. This is one of the best 12 month rallies ever going into Q4. Worth noting October higher only once out of six times it was up 30% or more going into Q4 and Q4 below avg returns as well. <a href="https://t.co/hfwwND2Dw5">pic.twitter.com/hfwwND2Dw5</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1842646974329204817?ref_src=twsrc%5Etfw">October 5, 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/money/best-futures-trading-software">Best Futures Trading Software</a>
Upcoming Economic Data:
The September producer and consumer price inflation reports as well as the weekly jobless claims data and the preliminary October consumer sentiment survey from the University of Michigan, all due in the back half of the week, are among the market-moving data for the week. Traders may also evince interest in sifting through the minutes of the September Federal Open Market Committee meeting due on Wednesday. At the meeting, the central bank began its policy pivot and reduced the Fed funds rate by an aggressive 50 basis points.
A slew of Fed speeches strewn through the week could also create ripples in the market.
<ul>
<li>On Monday at 11:30 a.m. EDT, the Treasury will auction three- and six-month bills.</li>
<li>Fed Governor Michelle Bowman is scheduled to speak at 1 p.m. EDT.</li>
<li>Minneapolis Fed President Neel Kashkari will participate in a Q&amp;A session at 1:50 p.m. EDT.</li>
<li>Atlanta Fed President Raphael Bostic will moderate a conversation with Steve Koonin, CEO of the Atlanta Hawks and State Farm Arena, as part of the Atlanta Fed&#8217;s&nbsp;Leading Voice series at 6 p.m. EDT.</li>
<li>The Fed will release its consumer credit report for August at 3 p.m. EDT. Economists, on average, expect the outstanding consumer credit to increase at a slower rate of $12 billion for the month compared to a $25.5 billion jump in August.</li>
<li>St. Louis Fed President Alberto Musalem&nbsp;will make a public appearance at 6:30 p.m. EDT.</li>
</ul>
Stocks In Focus:
<ul>
<li>Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) shares climbed over 2.50% <a href="https://www.benzinga.com/premarket">in premarket trading</a> after Wall Street Journal said activist investor Starboard Value&nbsp;has invested approximately $1 billion in the company and has engaged a few former Pfizer executives to assist in revitalizing its sagging fortunes.</li>
<li>Spirit AeroSystems Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPR#NYSE">SPR</a>) shares plunged over 8.5% after reports said the company may have to lay off workers in three weeks amid the ongoing Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) stock continues.</li>
<li>Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) fell over 1% and Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) was down modestly ahead of <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41198872/teslas-we-robot-event-will-likely-feature-robotaxi-25k-ev-and-optimus-updates-says-">Thursday&#8217;s Robotaxi event.</a></li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures rose over 2%, and in the early New York session it topped the $76-a-barrel mark. Gold futures rose modestly but traded shy of its record high. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rose over 1% in the past 24 hours and traded above $63K.
The 10-year Treasury note yield topped 4% by virtue of its 2.1-basis-point climb. 
The Asian markets reacted to the strong U.S. jobs data and ended mostly higher, led by Japan&#8217;s Nikkei 225 average, which climbed 1.8%. On the other hand, the Indian and New Zealand markets retreated.
The Chinese market will reopen on Tuesday after the weeklong National Day holiday. Traders across the global market look ahead to the re-opening, especially after a notice from the State Council said on Sunday that a panel of senior officials from the National Development and Reform Commission, including chairman Zheng Shanjie, will brief reporters on the implementation of stimulus policies at the press conference on Tuesday at 10 a.m. local time (Monday, 10 p.m. EDT).
European stocks traded mostly lower early hours of Monday.
Read Next:
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Wall Street Set To Start New Week Sharply Lower As Traders Brace For Key Economic Data And Fed Minutes: Why Strategist Sees Market Consolidating In Near Term

Billionaire entrepreneur Mark Cuban criticized former President Donald Trump&#8217;s proposed tariffs, arguing instead for strategic <a href="https://www.benzinga.com/news/24/10/41201646/mark-cuban-now-supporting-donald-trump-billionaire-investor-who-endorses-kamala-harris-for-2024-elec">approaches to boost U.S. manufacturing</a>.
What Happened: The &#8220;Shark Tank&#8221; star and Dallas Mavericks owner engaged in a spirited debate with Breitbart News Network&#8217;s Washington Bureau Chief Matthew Boyle, offering insights into the complexities of global trade and domestic production.
Cuban, known for his outspoken nature and business acumen, didn&#8217;t mince words when addressing Trump&#8217;s tariff proposals. &#8220;Across the board tariffs are an inflationary tax proposed by someone who doesn&#8217;t understand how tariffs work,&#8221; Cuban stated, setting the tone for his argument against blanket trade barriers.
The tech mogul outlined two fundamental issues he believes are often overlooked in the tariff debate:
<ol>
<li>Consumer behavior: &#8220;The majority of American consumers will not pay up for American-made products,&#8221; Cuban asserted, suggesting that patriotic sentiment alone isn&#8217;t enough to drive purchasing decisions. </li>
<li>Business realities: Cuban argued that companies inherently want to manufacture domestically but are constrained by economic factors. &#8220;If they could build cheaper here, they already would be doing so,&#8221; he emphasized.</li>
</ol>
Cuban proposed that for manufacturing to return to the U.S., either production costs must decrease or consumer willingness to pay higher prices must increase. He pointed to robotics as a potential solution, allowing for reduced manufacturing costs and, consequently, lower prices for consumers.
In a dig at Trump&#8217;s understanding of modern manufacturing, Cuban praised Vice President Kamala Harris&#8216; approach: &#8220;That&#8217;s what Harris understands that Trump doesn&#8217;t. If we incent [sic] companies to introduce new tech, you can get results like the Chip Act and TSMC and actually bring manufacturing here.&#8221;
<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">No. Strategic tariffs like steel, EVs are fine. I've said so many times. Across the board tariffs are an inflationary tax proposed by someone who doesn't understand how tariffs work. Let me explain the underpinning of why across the board tariffs don't work: The first fact… <a href="https://t.co/iuIvAL8hwk">https://t.co/iuIvAL8hwk</a>
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1843146191892279450?ref_src=twsrc%5Etfw">October 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/10/41157285/elon-musks-mom-chimes-in-after-son-says-he-cant-handle-4-years-of-seeing-and-hearing-kamala-harris-a?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk's Mom Chimes In After Son Says He Can't Handle 4 Years Of ‘Seeing And Hearing' Kamala Harris And Tim Walz: ‘So True'</a>
Why It Matters:&nbsp;The discussion was sparked by Boyle&#8217;s criticism of Cuban&#8217;s stance on tariffs. Boyle argued that major companies, particularly in the electric vehicle sector, are exploiting current trade conditions by <a href="https://www.benzinga.com/general/politics/24/09/41051661/mark-cuban-compares-donald-trump-small-businesses-to-hammers-and-nails-do-you-want-to-be-underne">manufacturing in China</a> and selling products cheaply in the U.S. market.
Cuban countered by highlighting the potential negative impacts of high tariffs on small American manufacturers, noting that &#8220;75 percent of manufacturers have fewer than 20 employees.&#8221; He warned that excessive tariffs could paradoxically make Chinese competitors even cheaper in comparison.
This exchange comes in the wake of Cuban sharing a nostalgic photograph with Trump in the Oval Office, captioned humorously as &#8220;When your BFF invites you to &#8216;bring a friend to work day.'&#8221; 
The timing of the post, following Elon Musk&#8216;s appearance at a Trump campaign rally, raised eyebrows. However, Cuban quickly clarified that he was not endorsing Trump, maintaining his <a href="https://www.benzinga.com/news/24/10/41201646/mark-cuban-now-supporting-donald-trump-billionaire-investor-who-endorses-kamala-harris-for-2024-elec">support for Harris&#8217;s campaign</a>.
Trump's proposal to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40773903/trumps-100-tariff-plan-for-dollar-dominance-could-backfire-warns-expert-that-change">enforce dollar dominance</a> in global trade might lead to economic disruption and potentially weaken the U.S. currency, according to a strategist from&nbsp;Commerzbank AG.
Harris has also criticized Trump&#8217;s <a href="https://www.benzinga.com/startups/24/10/41197078/hes-just-not-very-serious-says-kamala-harris-you-dont-just-throw-around-the-idea-of-tariffs-across-t">tariff strategies</a>, labeling them as reckless. She emphasized that tariffs should not be implemented lightly due to their potential impact on everyday Americans.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/24/10/41199793/amid-pfizers-struggles-with-declining-demand-for-covid-19-treatments-activist-investor-starboard">Amid Pfizer&#8217;s Struggles With Declining Demand For COVID-19 Treatments, Activist Investor Starboard Value Invests $1B In Pharma Giant: Report</a></li>
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Image via Flickr
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Politics

Global

Mark Cuban Criticizes Trump's Proposed Tariffs, Advocates For Robotics To Boost American Manufacturing: 'That's What Harris Understands That Trump Doesn't'

HC Wainwright &amp; Co. analyst Raghuram Selvaraju reiterates Rhythm Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RYTM#NASDAQ">RYTM</a>) with a Buy and maintains $64 price target.

RYTM

HC Wainwright & Co. Reiterates Buy on Rhythm Pharmaceuticals, Maintains $64 Price Target

Contracts

RKLB

Rocket Lab USA Says Selected By NASA To Complete Study For Retrieving Rock Samples From The Martian Surface And Bringing Them To Earth For The First Time

Signing Day Sports, Inc. ("Signing Day Sports" or the "Company") (NYSE:<a href="https://www.benzinga.com/stock/SGN#NYSE">SGN</a>), the developer of the Signing Day Sports app and platform to aid high school athletes in the recruitment process, today provided an update on the process to close on the recently announced transaction to acquire Dear Cashmere Group Holding Company (OTC:<a class="ticker" href="https://www.benzinga.com/stock/DRCR#OTC">DRCR</a>), doing business as Swifty Global ("Swifty").
The management teams of both companies have been working closely to develop a strategic roadmap focused on driving long-term growth and enhancing shareholder value. These efforts focus on improving operational efficiency and transparency by streamlining processes and refining reporting mechanisms to create a more accountable and effective framework for future success. Innovation is also a priority, with plans to accelerate product development in response to market demand. As part of this strategy, both teams are actively identifying new revenue streams to diversify business models and strengthen profitability. Additionally, they are exploring international opportunities for global expansion. At the core of their approach is a commitment to revenue growth, supported by sound management and strategic initiatives aimed at boosting bottom-line performance. This roadmap underscores the shared vision for growth and a unified commitment to delivering increasing shareholder value.
While there can be no guarantee as to the completion of the acquisition, both companies are fully committed to advancing the transaction with the utmost dedication and urgency and are deeply engaged in ensuring that the process continues to move forward as quickly and efficiently as possible. The strong foundation of mutual trust and a shared vision between Signing Day Sports and Swifty has fostered a collaborative spirit that continues to drive their combined efforts. This solid collaboration, built on transparency and aligned goals, positions both companies to not only finalize the terms of the deal but also to continue thriving together as they work toward shared success.
In a significant show of commitment, Swifty has also committed to provide intermediate-term capital to Signing Day Sports in the form of a promissory note totalling $150,000 (the "Promissory Note"). This financing is intended to facilitate the transaction and offset some of the closing costs associated with the acquisition, reflecting the confidence both management teams have in the significant potential of the combined entity.

DRCR

Signing Day Sports Advances Acquisition of Swifty Global, Focuses on Growth and New Revenue Streams

HC Wainwright &amp; Co. analyst Raghuram Selvaraju reiterates Entera Bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENTX#NASDAQ">ENTX</a>) with a Buy and maintains $10 price target.

ENTX

HC Wainwright & Co. Reiterates Buy on Entera Bio, Maintains $10 Price Target

Elon Musk&#8217;s SpaceX is looking forward to launching the European Space Agency&#8217;s Hera mission to orbit on Monday aboard its Falcon 9 after the launch vehicle was <a href="https://www.benzinga.com/news/24/09/41088324/spacexs-falcon-9-rocket-grounded-3rd-time-in-3-months-launch-put-on-hold-as-company-hunts-for-root-c">grounded late last month</a>.
What Happened: &#8220;Targeting Monday, October 7 for Falcon 9's launch of the ESA Hera mission to orbit from Florida,&#8221; SpaceX announced in a post on social media platform X. The mission is expected to liftoff at 10:52 a.m. ET.&nbsp;
SpaceX&#8217;s Falcon 9 was grounded late last month after the second stage of the Falcon 9 rocket that launched the&nbsp;<a href="https://www.benzinga.com/news/24/09/41083798/elon-musk-confirms-crew-dragons-iss-arrival-spacex-capsule-to-rescue-stranded-boeing-astronauts-crew" target="_blank" rel="noreferrer noopener">Crew-9 mission to the International Space Station</a>&nbsp;(ISS) on September 28 didn't land back to Earth as intended.
"We will resume launching after we better understand root cause," the company said in an X post then. The FAA also said that it requires an investigation. 
However, Reuters reported on Sunday that the FAA allowed for the Falcon 9 to return to flight solely for the Hera mission. The Mission is expected to provide data for future asteroid deflection missions.
Neither the FAA nor SpaceX immediately responded to <a href="https://pro.benzinga.com/dashboard">Benzinga&#8217;s</a> request for comment.
Why It Matters: The Falcon 9 is&nbsp;<a href="https://www.benzinga.com/news/24/09/41022762/elon-musk-adjusts-forecast-on-spacexs-share-of-all-mass-to-orbit-if-the-rest-of-the-year-goes-well" target="_blank" rel="noreferrer noopener">SpaceX's workhorse</a>. In the first half of 2024, the company completed 67 missions using its Falcon vehicles. The Falcon 9 alone accounted for 66 launches in the half.
This is the third time in a few months that Falcon 9 has faced an issue. In late August, the Federal Aviation Administration (FAA) grounded the Falcon after a rocket booster that supported a&nbsp;<a href="https://www.benzinga.com/topic/starlink" target="_blank" rel="noreferrer noopener">Starlink mission</a>&nbsp;failed to land upright on a droneship at sea and exploded upon returning to Earth. However, the FAA gave the green light for the company to resume launch operations two days later.
In July, however, SpaceX halted launch operations for&nbsp;<a href="https://www.benzinga.com/news/24/08/40360084/elon-musks-spacex-meets-its-july-launch-numbers-halfway-through-august-with-back-to-back-launch-miss" target="_blank" rel="noreferrer noopener">two weeks</a>&nbsp;after an issue was identified with a Falcon 9 rocket&#8217;s second-stage engine. The issue was identified during a Starlink mission launch on July 11 and the company resumed launch operations on July 27 after completing an investigation and deploying necessary design changes.
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>.
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<li><a href="https://www.benzinga.com/news/24/10/41201568/mark-zuckerberg-redesigns-porsche-cayenne-turbo-gt-into-a-minivan-for-wife-priscilla-chan-gets-a-911">Mark Zuckerberg Redesigns Porsche Cayenne Turbo GT Into A Minivan For Wife Priscilla Chan, Gets A 911 GT3 For Himself</a></li>
</ul>
Photo courtesy: SpaceX

SPACE

Tech

SpaceX's Falcon 9 To Launch Again On Monday For ESA's Hera Mission: FAA Reportedly Says It's A One-Time Approval

HC Wainwright &amp; Co. analyst Mitchell Kapoor maintains Tyra Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TYRA#NASDAQ">TYRA</a>) with a Buy and raises the price target from $25 to $30.

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