Tesla (NASDAQ:TSLA) Stock, Quote.Headers.trade-ideas

Tesla

Tesla is a vertically integrated battery electric vehicle automaker and developer of autonomous driving software. The company has multiple vehicles in its fleet, which include luxury and midsize sedans, crossover SUVs, a light truck, and a semi-truck. Tesla also plans to begin selling more affordable vehicles, and a sports car. Global deliveries in 2023 were a little over 1.8 million vehicles. The company also sells batteries for stationary storage for residential and commercial properties including utilities and solar panels and solar roofs for energy generation. Tesla also owns a fast-charging network.

Wuhan.china-may,2021:,Nio,Brand,Logo,With,Electric,Car,In,Store.

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NIO&#39;s Onvo reveals that 40% of its store managers come from Tesla, intensifying the competition as it prepares to launch the L60.



China&#39;s NIO Says 40% Of Its Store Managers Are Ex-Tesla

Ecco perché le azioni Tesla potrebbero continuare a salire

Tesla has a patent for wireless charging. Will the feature be a part of the new robotaxis and unveiled at robotaxi day on Oct. 10?

Tesla Has Wireless Charging Patent: Will Elon Musk Reveal New EV Technology At Robotaxi Event?

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Wall Street is in full risk-on mode following the Federal Reserve’s landmark decision to slash interest rates by 50 basis points, signaling further cuts as inflation approaches the central bank’s target.

Wall Street Breaks Records, Chipmakers Rally, Tesla Hits 2-Month High As Fed Cut Drives Risk-On Mode: What&#39;s Driving Markets Thursday?

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Mercedes-Benz Group Lowers 2024 FY Guidance: Adjusted Return On Sales For Mercedes-Benz Cars Now 7.5%-8.5%, FY EBIT And Free Cash Flow Expected To Be Significantly Below Prior Year Levels; Mercedes-Benz Vans Guidance Unchanged At 14%-15% Return On Sales

NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) shares are <a href="https://www.benzinga.com/movers" target="_blank" rel="noreferrer noopener">trading higher on Thursday</a>. Nio&#8217;s Onvo currently has 180 store managers in China, with 40% hailing from Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and 27% from Li Auto (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>), according to Xia Qinghua, head of Onvo&#8217;s user and service operations, CnEV Post <a href="https://cnevpost.com/2024/09/19/nio-onvo-40-pct-store-managers-from-tesla/" target="_blank" rel="noreferrer noopener">reports</a>.
The competition stories between NIO and Tesla is not new! Earlier this May, NIO reportedly reached an agreement with larger competitor BYD Co., Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) to obtain batteries for a new EV brand positioned in a lower price range, targeting competition with Tesla, according to a Reuters report.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40937424/why-tesla-stock-is-rallying-about-3-higher-in-thursdays-premarket" rel="noreferrer noopener">Why Tesla Stock Is Rallying About 3% Higher In Thursday&#8217;s Premarket</a>
Meanwhile, Onvo is officially set to launch the L60 later today. The L60 first appeared on May 15 and opened for pre-orders at a promotional price of RMB219,900, which includes the battery.
This price is RMB30,000 lower than the current Tesla Model Y starting price in China.
Qinghua started a 20,000-kilometer long-distance journey across China in an Onvo L60 on August 15, shortly after the first production vehicle was completed.
He shared these details during a conversation with Nio founder, chairman, and CEO William Li while in the car, near the conclusion of the trip today, CnEV Post added.
Onvo opened its first 105 stores in China on September 1, and the total number of stores has now reached 120.
Price Action: NIO shares are trading higher by 6.87% to $5.37 at the last check on Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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</ul>
Photo via Shutterstock

China's NIO Says 40% Of Its Store Managers Are Ex-Tesla

Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is no stranger to patents when it comes to the<a href="https://www.benzinga.com/electric-vehicles"> electric vehicle sector</a>. 
A new patent for wireless charging is currently making the rounds. The automaker could highlight the tech at its highly-anticipated <a href="https://www.benzinga.com/news/24/09/40808924/tesla-robotaxi-event-to-be-held-in-los-angeles-on-1010-says-senior-company-exec-existing-shareholder">robotaxi event on Oct. 10</a>.
Tesla filed a patent for a wireless charging system, as <a href="https://cleantechnica.com/2024/09/19/new-tesla-wireless-charging-patent-may-feature-at-10-10-tesla-robotaxi-event/">reported</a> by CleanTechnica, earlier this year. The filing, <a href="https://x.com/seti_park/status/1832431617329262615">posted </a>by X user @seti_park, shows a wireless EV charging system that could improve safety and efficiency.
<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">Bibliography #&#xFE0F;&#x20E3; Patent No.: WO2024182372 &#x1f4cb; Title: PARAMETER ESTIMATION FOR WIRELESS CHARGING &#x1f3e2; Applicant: Tesla, Inc. &#x1f465; Inventors: LIN Rick, DOSHI Jimit, PAN Fei, MANAK Ryan, DEGIOANNI Franco, SANKARANARAYANAN Vivek &#x1f4c5; Filing Date: 2024-02-27 &#x1f4e4; Publication Date: 2024-09-06… <a href="https://t.co/0FSgqa2gli">pic.twitter.com/0FSgqa2gli</a>
&mdash; SETI Park (@seti_park) <a href="https://twitter.com/seti_park/status/1832431617329262615?ref_src=twsrc%5Etfw">September 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Tesla has been working on wireless charging for years. The timing of the published patent on Sept. 6 could provide clues that the upcoming robotaxis could feature the technology.
"The present disclosure relates to systems and methods for estimating one or more parameters associated with a converter to configure wireless charging setting for a wireless charging system," the <a href="https://patentscope.wipo.int/search/en/detail.jsf?docId=WO2024182372">patent </a>reads.
Did You Know?
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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent091924">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
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Benzinga has recently highlighted other patents from Tesla including<a href="https://www.benzinga.com/24/09/40720928/elon-musk-to-unveil-reversible-seats-in-tesla-robotaxis-no-longer-a-driver-seat-in-the-vehicle"> rotating front seats </a>in vehicles, which could also factor into the robotaxi design.
While the patents may prove to be non-material or years away, the timing has investors closely monitoring the company ahead of the highly anticipated event next month.
With reports that the Oct. 10 event will take place at a Warner Bros. Discovery studio lot in California, anticipation for live demonstrations of the autonomous technology has increased.
Tesla is expected to show off the new robotaxi and demonstrate the latest technology, which could include charging methods.
Tesla originally scheduled the robotaxi event for Aug. 8. The company delayed the event due to extra time needed for an "important design change."
"Requested what I think is an important design change to the front, and extra time allows us to show off a few other things," Tesla CEO Elon Musk said about the delay.
TSLA Price Action: Tesla stock is up 6.6% to $242.25 on Thursday versus a 52-week trading range of $138.80 to $273.93. Tesla stock is down 2% year-to-date in 2024.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/09/40839183/tesla-patent-shows-new-automotive-assembly-process-that-could-help-cut-costs-efficiently-assembling">Tesla Patent Shows New Automotive Assembly Process That Could Help Cut Costs: &#8216;Efficiently Assembling Vehicles&#8217;</a></li>
</ul>
Image: Courtesy of Tesla

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>TSLA</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$240.00</td>
<td>$36.3K</td>
<td>8.4K</td>
<td>63.5K</td>
</tr>
<tr>
<td>NIO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/17/25</td>
<td>$6.00</td>
<td>$99.5K</td>
<td>2.3K</td>
<td>17.4K</td>
</tr>
<tr>
<td>JD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>12/20/24</td>
<td>$30.00</td>
<td>$36.4K</td>
<td>35.1K</td>
<td>7.4K</td>
</tr>
<tr>
<td>DASH</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$145.00</td>
<td>$67.5K</td>
<td>1.0K</td>
<td>205</td>
</tr>
<tr>
<td>CAVA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$125.00</td>
<td>$35.3K</td>
<td>1.5K</td>
<td>152</td>
</tr>
<tr>
<td>DHI</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>10/18/24</td>
<td>$190.00</td>
<td>$39.0K</td>
<td>260</td>
<td>146</td>
</tr>
<tr>
<td>CHWY</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$20.00</td>
<td>$120.0K</td>
<td>4.2K</td>
<td>104</td>
</tr>
<tr>
<td>DRI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$150.00</td>
<td>$242.2K</td>
<td>96</td>
<td>101</td>
</tr>
<tr>
<td>HD</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$365.00</td>
<td>$32.7K</td>
<td>612</td>
<td>72</td>
</tr>
<tr>
<td>CVNA</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$180.00</td>
<td>$27.5K</td>
<td>67</td>
<td>21</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• For TSLA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), we notice a put option sweep that happens to be bearish, expiring in 1 day(s) on September 20, 2024. This event was a transfer of 166 contract(s) at a $240.00 strike. This particular put needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $36.3K, with a price of $219.0 per contract. There were 8451 open contracts at this strike prior to today, and today 63555 contract(s) were bought and sold. 
• For NIO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>), we notice a call option sweep that happens to be bullish, expiring in 210 day(s) on April 17, 2025. This event was a transfer of 1005 contract(s) at a $6.00 strike. This particular call needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $99.5K, with a price of $99.0 per contract. There were 2329 open contracts at this strike prior to today, and today 17419 contract(s) were bought and sold. 
• For JD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>), we notice a call option sweep that happens to be neutral, expiring in 92 day(s) on December 20, 2024. This event was a transfer of 200 contract(s) at a $30.00 strike. This particular call needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $36.4K, with a price of $182.0 per contract. There were 35114 open contracts at this strike prior to today, and today 7420 contract(s) were bought and sold. 
• Regarding DASH (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DASH#NASDAQ">DASH</a>), we observe a call option sweep with bearish sentiment. It expires in 120 day(s) on January 17, 2025. Parties traded 75 contract(s) at a $145.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $67.5K, with a price of $900.0 per contract. There were 1006 open contracts at this strike prior to today, and today 205 contract(s) were bought and sold. 
• Regarding CAVA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAVA#NYSE">CAVA</a>), we observe a call option sweep with bullish sentiment. It expires in 29 day(s) on October 18, 2024. Parties traded 52 contract(s) at a $125.00 strike. This particular call needed to be split into 17 different trades to become filled. The total cost received by the writing party (or parties) was $35.3K, with a price of $680.0 per contract. There were 1565 open contracts at this strike prior to today, and today 152 contract(s) were bought and sold. 
• For DHI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>), we notice a put option trade that happens to be neutral, expiring in 29 day(s) on October 18, 2024. This event was a transfer of 100 contract(s) at a $190.00 strike. The total cost received by the writing party (or parties) was $39.0K, with a price of $390.0 per contract. There were 260 open contracts at this strike prior to today, and today 146 contract(s) were bought and sold. 
• Regarding CHWY (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>), we observe a call option trade with neutral sentiment. It expires in 120 day(s) on January 17, 2025. Parties traded 100 contract(s) at a $20.00 strike. The total cost received by the writing party (or parties) was $120.0K, with a price of $1200.0 per contract. There were 4219 open contracts at this strike prior to today, and today 104 contract(s) were bought and sold. 
• For DRI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>), we notice a call option sweep that happens to be bullish, expiring in 29 day(s) on October 18, 2024. This event was a transfer of 100 contract(s) at a $150.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $242.2K, with a price of $2430.0 per contract. There were 96 open contracts at this strike prior to today, and today 101 contract(s) were bought and sold. 
• For HD (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>), we notice a call option trade that happens to be bearish, expiring in 57 day(s) on November 15, 2024. This event was a transfer of 10 contract(s) at a $365.00 strike. The total cost received by the writing party (or parties) was $32.7K, with a price of $3275.0 per contract. There were 612 open contracts at this strike prior to today, and today 72 contract(s) were bought and sold. 
• For CVNA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>), we notice a put option trade that happens to be bearish, expiring in 57 day(s) on November 15, 2024. This event was a transfer of 11 contract(s) at a $180.00 strike. The total cost received by the writing party (or parties) was $27.5K, with a price of $2505.0 per contract. There were 67 open contracts at this strike prior to today, and today 21 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

CAVA

CHWY

CVNA

DASH

10 Consumer Discretionary Stocks With Whale Alerts In Today's Session

WIIM

ADNT

RIVN

Shares of auto-related stocks are trading higher following the Fed's policy decision to cut rates by 50 basis points, which could stimulate spending and enhance credit affordability.

Tesla shares are trading higher amid overall market strength following Wednesday's Fed rate cut.

Wall Street is in full risk-on mode following the Federal Reserve&#8217;s landmark decision to slash interest rates by 50 basis points, signaling further cuts as inflation approaches <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40938732/wall-street-ramps-up-interest-rate-cut-bets-after-fed-meeting-the-hard-landing-crow">the central bank&#8217;s target.</a>
The S&amp;P 500 and Dow Jones both set fresh record highs during the morning session in New York, buoyed by strong performances from the Magnificent Seven tech giants.
By midday, these elite tech stocks added over $500 billion in market value, boosting their combined market capitalization to $15.9 trillion.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) led the rally, surging nearly 7% and hitting a two-month peak, while NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) climbed 5%, driving the semiconductor sector higher.
The iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) jumped 4.6%, fully erasing its losses from September.
The Nasdaq 100 rose 2.9%, on pace for its strongest session in over a month and outperforming other major indices. Small caps joined the rally, with the Russell 2000 index surging 2%.
Commodities rallied across the board: Gold, silver, and copper increased by 1.2%, 3.8%, and 1.8%, respectively. Oil prices, tracked by the United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>), spiked over 3%.
The bullish sentiment extended to cryptocurrencies, with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rising over 2%, poised to close at its highest level since late August.
<h1 class="wp-block-heading">Thursday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices </td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,905.70</td>
<td>2.9%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,249.90</td>
<td>2.0%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,720.74</td>
<td>1.8%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,002.90</td>
<td>1.2%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:25 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091924&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 1.8% higher to $571.52.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 1.2% to $421.23.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rallied 2.8% to $484.99.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 1.9% to $223.63.</li>
<li>The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, up 0.2%. The Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) lagged, down 0.9%.</li>
</ul>
<h1 class="wp-block-heading">Thursday&#8217;s Stock Movers</h1>
<ul>
<li>Darden Restaurants Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>) soared 9%, in response to its quarterly earnings and bullish outlook for upcoming quarters. </li>
<li>Also reacting to earnings reports was FactSet Research Systems Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDS#NYSE">FDS</a>) up 5%.</li>
<li>Companies expected to report earnings after the close include FedEx Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) and Lennar Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>).</li>
</ul>
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40937291/bank-stocks-hit-inflection-point-after-feds-50-basis-point-cut-analyst-reveal-top-p">• Bank Stocks Hit Inflection Point After Fed&#8217;s 50 Basis Point Cut, Analyst Reveals Top Picks</a> Images was created using artificial intelligence DALL-E

Wall Street Breaks Records, Chipmakers Rally, Tesla Hits 2-Month High As Fed Cut Drives Risk-On Mode: What's Driving Markets Thursday?

Bulls are stampeding across Wall Street on Thursday in the wake of the Federal Reserve&#8217;s decision to cut interest rates for the first time<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"> in over four years</a>.
The central bank&#8217;s bold move, a 50-basis-point cut, caught analysts off guard and sent the U.S. stock market to fresh record highs at the opening of Thursday&#8217;s session.
The S&amp;P 500 soared to a new all-time high, reaching 5,700 points. Similarly, the Dow Jones Industrial Average climbed to an unprecedented 42,000 points.
In the first 30 minutes of trading, the S&amp;P 500 and Dow Jones rose by 1.4% and 1%, respectively. The Nasdaq 100 climbed 1.5%, although the Russell 2000, representing small-cap stocks, outperformed with a surge of over 2%.
The market rally was primarily driven by the Magnificent Seven: Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>), Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Amazon Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>). Each of the Magnificent Seven are recording daily gains ranging from 1.5% to 4.5%, solidly in positive territory.
<h3 class="wp-block-heading">Chart: S&amp;P 500 Hits Record Highs</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="447" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19100943/image-155-1024x447.png" alt="" class="wp-image-556397" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19100943/image-155-1024x447.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19100943/image-155-300x131.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19100943/image-155-768x336.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19100943/image-155-1536x671.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19100943/image-155.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Image: <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091924&amp;t=be2bearmibe3na1">Benzinga Pro</a></figcaption></figure>
<h3 class="wp-block-heading">Strong Labor Market Eases Slowdown Fears, Analysts Boost Rate-Cut Wagers</h3>
Thursday&#8217;s economic data further boosted investor confidence. Weekly jobless claims came in well below expectations, suggesting a lower-than-expected trend of rising unemployment. 
Continuing jobless claims also dropped more than expected, hinting at a potential absorption of long-term unemployed individuals into the job market. 
This data alleviated concerns about rising unemployment and provided a more optimistic outlook for the economy.
Wall Street analysts quickly adjusted their expectations following the Federal Reserve&#8217;s rate cut. There is now growing anticipation of additional rate cuts, diverging from the cautious tone expressed in the Fed&#8217;s September &#8220;dot plot&#8221; and Chair Jerome Powell&#8216;s remarks during the press conference.
Notably, Goldman Sachs economist Jan Hatzius revised his forecast from expecting a 25-basis-point cut at every other meeting to predicting a rate cut at every meeting. He even left the door open for a back-to-back 50-basis-point reduction in November.
<h3 class="wp-block-heading">Thursday&#8217;s 5 Top-Performing S&amp;P 500 Stocks</h3>
Among the S&amp;P 500, the top five performers as of 10 a.m. ET were:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>1-day Return</td>
</tr>
<tr>
<td>Darden Restaurants, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NASDAQ">DRI</a>) </td>
<td>7.46</td>
</tr>
<tr>
<td>Airbnb, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABNB#NASDAQ">ABNB</a>)</td>
<td>5.27</td>
</tr>
<tr>
<td>Cadence Design Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>)</td>
<td>4.40</td>
</tr>
<tr>
<td>Lam Research Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCRX#NASDAQ">LCRX</a>)</td>
<td>4.34</td>
</tr>
<tr>
<td>NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)</td>
<td>4.33</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">Thursday&#8217;s 5 Top-Performing Dow Jones Industrial Average Stocks</h3>
Among the Dow Jone, the top five performers were:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>1-day Return</td>
</tr>
<tr>
<td>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)</td>
<td>3.02</td>
</tr>
<tr>
<td>Salesforce, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NASDAQ">CRM</a>)</td>
<td>3.01</td>
</tr>
<tr>
<td>The Goldman Sachs Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>)</td>
<td>2.80</td>
</tr>
<tr>
<td>Caterpillar Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>)</td>
<td>2.71</td>
</tr>
<tr>
<td>American Express Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>)</td>
<td>2.67</td>
</tr>
</tbody>
</table>
</figure>
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Photo via Shutterstock.

Analyst Color

Macro Economic Events

Broad U.S. Equity ETFs

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Econ #s

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AAPL

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MSFT

S&P 500, Dow Jones Hit Record Highs: Magnificent 7 Add $400 Billion After Fed's Historic Interest Rate Cut

U.S. stocks were higher, with the Dow Jones index surging around 400 points on Thursday.
Shares of Darden Restaurants, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>) rose sharply during Thursday's session <a href="https://www.benzinga.com/quote/DRI/earnings">following first-quarter results.</a>
Darden reported quarterly earnings of $1.75 per share which missed the analyst consensus estimate of $1.83 per share. The company reported quarterly sales of $2.76 billion which missed the analyst consensus estimate of $2.80 billion.
Darden Restaurants shares surged 7.4% to $170.92 on Thursday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Rezolve AI Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RZLV#NASDAQ">RZLV</a>) shares jumped 88.8% to $8.97. The company issued a PR applauding the recent announcement by Microsoft and BlackRock to invest $30 billion into AI infrastructure.</li>
<li>Edgewise Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EWTX#NASDAQ">EWTX</a>) gained 37.7% to $26.26 after the company announced top-line data of EDG-7500 from the Phase 1 trial in healthy subjects and the single-dose arm of the Phase 2 CIRRUS-HCMtrial in patients with obstructive HCM.</li>
<li>Mobileye Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>) shares surged 13.4% to $13.17 after Intel reportedly said it does not have plans to divest a majority interest in the company.</li>
<li>Bel Fuse Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BELFB#NASDAQ">BELFB</a>) shares rose 10.3% to $76.65. Bel announced an agreement to acquire Enercon Technologies.</li>
<li>TeraWulf Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WULF#NASDAQ">WULF</a>) gained 10.3% to $4.48.</li>
<li>XCHG Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XCH#NASDAQ">XCH</a>) gained 10.2% to $20.25.</li>
<li>Bit Digital, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTBT#NASDAQ">BTBT</a>) shares jumped 9.4% to $3.14. Shares of crypto-linked stocks traded higher after the Fed&#8217;s Wednesday decision to cut rates by 50 basis points.</li>
<li>MINISO Group Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNSO#NASDAQ">MNSO</a>) shares jumped 8.6% to $16.44.</li>
<li>Symbotic Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYM#NASDAQ">SYM</a>) gained 7% to $26.73.</li>
<li>MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) climbed 7% to $141.91. Shares of crypto-linked stocks traded higher after the Fed&#8217;s Wednesday decision to cut rates by 50 basis points.</li>
<li>XPeng Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) shares rose 6.6% to $9.21. The company disclosed that XPENG Motors will showcase its latest technologies and solutions at the Paris Motor Show 2024 in October.</li>
<li>James Hardie Industries plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JHX#NYSE">JHX</a>) gained 5.8% to $38.30.</li>
<li>Opthea Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPT#NASDAQ">OPT</a>) gained 5.4% to $3.70.</li>
<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rose 4.3% to $236.88.</li>
<li>NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) gained 4% to $117.97.</li>
</ul>
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BELFB

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EWTX

MBLY

MNSO

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RZLV

WULF

XPEV

Darden Restaurants Posts Q1 Results, Joins Tesla, Nvidia, XPeng And Other Big Stocks Moving Higher On Thursday

Shares of electric vehicle maker Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) advanced strongly in the premarket session on Thursday. The upside is in line with <a href="https://www.benzinga.com/news/earnings/24/09/40934972/wall-street-primed-for-relief-rally-as-traders-eye-jobless-claims-fedex-earnings-after-feds-50-basi">the buoyancy shown by the index futures,</a> which are up sharply early Thursday.
Much of the optimism toward the stock could be due to 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"> 50 basis point cut in the Fed funds rate, </a>which serves as the benchmark for all the other interest rates such as mortgages, as well as credit cards and other loans.
The EV industry has been caught in a rut since 2022 as demand faltered amid customers reining in spending amid high interest rates and hot inflation. The Fed rate reduction is expected to bring some relief to consumers as it would lower their borrowing costs. Tesla CEO Elon Musk has on many occasions cribbed about the impact of higher rates on sales.
See Also: <a href="https://www.benzinga.com/money/best-electric-vehicle-stocks">Best EV Stocks</a>
The stock may also get a prop from evidence of continued strength for Tesla in China, which is one of its key markets. Weekly vehicle insurance data from China showed 15,600 insured registrations for Tesla vehicles in the week of Sept 9-15, CnEVPost <a href="https://cnevpost.com/2024/09/19/china-ev-insurance-registrations-week-ending-sept-15-2024/">reported, </a>citing data from Li Auto, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>).
Commenting on the data, fund manager Gary Black said after 11 weeks into the quarter, with only two weeks left, Tesla&#8217;s China third-quarter registrations are on track for their best quarter ever. Quarter-to-date period, the number was up 20% year-over-year and 26% higher than in the first quarter, he added.
In premarket, Tesla shares soared 2.88% to $233.74, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a>
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
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Image Courtesy Of Tesla

Why Tesla Stock Is Rallying About 3% Higher In Thursday's Premarket

Ahead of the 2024 presidential election, Elon Musk has thrown his support behind Donald Trump, while his employees are reportedly largely backing Kamala Harris, according to recent data.
What Happened: According to OpenSecrets, employees at Tesla Inc. have contributed $42,824 to Harris&#8217; campaign, compared to $24,840 for Trump. Workers at SpaceX have donated $34,526 to Harris, while only $7,652 has gone to Trump. At X, formerly Twitter, employees have given $13,213 to Harris and less than $500 to Trump, Reuters reported on Thursday.
These figures, though relatively small, highlight a political divide between Musk and his workforce. Musk, the world&#8217;s richest man, has promoted Trump on X and criticized left-leaning ideologies as a &#8220;woke-mind virus.&#8221; He did not respond to requests for comment. In 2020, Musk supported President Joe Biden but has since shifted rightward.
Trump has promised to appoint Musk to lead a government efficiency commission if he wins the Nov. 5 election. The OpenSecrets data includes donations from employees, owners, and their immediate family members, as companies themselves cannot donate to federal campaigns.
See Also: <a href="https://www.benzinga.com/news/24/09/40899012/elon-musk-reacts-after-trump-campaign-releases-over-50-examples-of-democrats-rhetoric-that-inspired?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts After Trump Campaign Releases Over 50 Examples of Democrats&#8217; Rhetoric That &#8216;Inspired Assassination Attempt&#8217;</a>
Many of Musk&#8217;s employees are based in California, a Democratic stronghold, noted Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management, a Tesla shareholder and X investor. In July, Musk announced plans to move X and SpaceX headquarters to Texas due to a California gender-identity law, which he called the &#8220;last straw.&#8221; 
Tesla and X have yet to respond to Benzinga&#8217;s queries.
Why It Matters: Musk&#8217;s political stance has evolved significantly over the years. In August, Musk explained his <a href="https://www.benzinga.com/news/24/08/40329702/elon-musk-who-once-queued-for-6-hours-to-shake-obamas-hand-explains-why-hes-now-supporting-trump-my">support for Trump</a>, stating that his track record has been moderate and he has not been particularly political in the past. He revealed this during a conversation with Trump, touching on various topics from immigration to electric vehicles. 
In September, Musk commented on a debate between Trump and Harris, expressing <a href="https://www.benzinga.com/news/24/09/40808912/elon-musk-says-kamala-harris-exceeded-most-peoples-expectations-but-debate-hosts-were-unfair-to-trum">dissatisfaction with the debate hosts</a> and raising concerns about the lack of discussion on the national debt crisis. He also mentioned that Harris exceeded most people&#8217;s expectations during the debate.
Recently, Musk faced backlash for a <a href="https://www.benzinga.com/news/24/09/40890277/elon-musk-says-his-now-deleted-controversial-post-after-latest-trump-assassination-which-was-labeled">controversial post on X</a>, which he later deleted. The post questioned why no one was attempting to assassinate President Joe Biden or Harris, following an assassination attempt on Trump. The White House labeled the post as &#8220;irresponsible.&#8221;
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<li><a href="https://www.benzinga.com/markets/equities/24/09/40917216/elon-musk-says-warren-buffett-is-positioning-for-kamala-harris-win-with-his-277b-cash-pile-as-pr?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says Warren Buffett Is Positioning For Kamala Harris Win With His $277B Cash Pile As Pro-Trumper John Paulson Warns Of Equity Market Exit</a></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/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Politics

While Elon Musk Backs Trump For The White House, His Teams At Tesla, X And SpaceX Are Supporting Kamala Harris: Employees Have Reportedly Donated Over $90K To Vice President's Campaign

New Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) vehicle registrations in the European Union in the first eight months of 2024 dropped 15% as compared to the corresponding period last year<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39499253/elon-musks-ev-giant-will-see-revenue-from-its-auto-business-slumping-this-year-but-"> as overall electric vehicle (EV) demand dropped</a>, data from Europe&#8217;s auto industry body showed on Thursday.
What Happened: Only 152,607 new Tesla vehicles were registered this year in the EU as of the end of August, as compared to 179,363 registrations in the corresponding period of last year, the European Automobile Manufacturers Association (ACEA) said. 
Dearborn-based Ford Motor Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) is not faring great in the EU either. In the eight months that ended August, Ford&#8217;s new vehicle registration dropped 16% to 210,351 units. 
However, Swedish automaker Volvo Cars, majority-owned by China&#8217;s Geely, saw new car registrations rise 38% to 192,365 units while Chinese state-owned SAIC Motor also marked an 18% growth in registrations to 102,924 units.
Japan-based Toyota Motor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>) witnessed its registrations rise by 18% this year through the end of August to 571,574 units even as rivals including Stellantis (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) and Hyundai (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HYMTF#OTC">HYMTF</a>) recorded a 3.2% and 4.3% dip in registrations, respectively.
German automaker Volkswagen (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>) continues to be the best-selling car brand in the EU, with 1.9 million new vehicles registered in the first eight months of 2024, growing by 1.6% over the same period last year.
Why It Matters: Overall, 7.2 million new cars have been registered<a href="https://www.benzinga.com/news/24/07/39635158/eu-imposes-provisional-duties-of-as-much-as-37-6-on-chinese-ev-imports"> in the EU</a> this year as of the end of August, marking a growth of 1.4% from last year. 
Hydrid electric vehicles&#8217; popularity in the period rose, as depicted by the 21% rise in registrations. Battery electric vehicle registrations dipped 8.3% while diesel vehicle registrations dropped 9.7%.
On Wednesday, the ACEA took note of the drop in BEV market share in the EU. &#8220;European auto manufacturers, united in ACEA, therefore call on the EU institutions to come forward with urgent relief measures before new CO2 targets for cars and vans come into effect in 2025,&#8221; it said. 
EV adoption and production are hindered by a lack of charging infrastructure and a competitive manufacturing environment, it said, while adding that the current emission rules do not account for the profound shift in the geopolitical and economic climate over the past years. 
The 2025 CO2 emission targets could result in multi-billion euro fines, production cuts, and job losses, ACEA said, while calling for the CO2 regulations for light-duty and heavy-duty vehicles to be reviewed next year. 
&#8220;We stand ready to discuss a package of short-term relief for the 2025 CO2 targets for cars and vans, as well as a fast-track, comprehensive, and robust review of the CO2 Regulations for both cars and trucks, plus targeted secondary legislation, to get the zero-emission transition firmly on track and secure Europe's industrial future,&#8221; it said. 
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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Photo courtesy: Unsplash

HYMTF

VWAGY

Tesla Registrations In EU Take A Hit In 2024 As EV Demand Slows: Volkswagen, Volvo, And Toyota Continue To Gain Speed

A Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) bull on Wednesday weighed in on the relationship between the electric-vehicle company led by Elon Musk and the <a href="https://www.benzinga.com/news/24/09/40767621/elon-musk-refutes-reports-of-xai-negotiating-revenue-share-deal-with-tesla-there-is-no-need-to-licen">billionaire&#8217;s artificial intelligence company xAI. </a>
The Tesla Analyst: Morgan Stanley analyst Adam Jonas reiterated an Overweight rating and $310 price target for Tesla shares. 
The Tesla Thesis: Training and simulation are the common denominators between Tesla and xAI, and these two are &#8220;deterministic&#8221; to Tesla&#8217;s future in robotics, autonomy and manufacturing, said Jonas in a note. AI execution is vital to Tesla&#8217;s upside, the analyst said, adding that the Musk-led company&#8217;s future valuation is highly dependent on its ability to develop, manufacture and commercialize autonomous technologies, ranging from transportation to humanoids.
The analyst also noted that training and simulation have been revolutionizing robots as accessing supercomputing resources for training and simulation is critical to optimizing autonomous software/models and hardware.
He said that xAI was established to attract top-tier AI talent who might not otherwise be interested in working for Tesla, the electric vehicle company. The AI company is investing billions of dollars toward assembling advanced computing resources which is beneficial to Tesla, he added.
Jonas noted that xAI&#8217;s massive compute cluster named Colossus has recently been brought online in the Memphis area, and it consists of 100,000 Nvidia Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) H100s. Musk plans to double it to 200,000 H100 equivalent, he said.
Tesla&#8217;s rival in robotaxi operations, Alphabet, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Waymo, has been aggressively expanding its fleet size, city deployments and technological/ network partnerships of late, Jonas said. &#8220;Waymo's recent resurgence is a reminder to investors that the road to AV supremacy is a race for data, computing, capital and talent,&#8221; he said.
See Also: <a href="https://www.benzinga.com/money/how-to-buy-tesla-stock">How To Buy Tesla (TSLA) Stock</a>
Sneak-Peek Into Robotaxi Day: Jonas raised doubts about Tesla living up to investors&#8217; high expectations as he does not see anything beyond a demo of the FSD v12.5 software and a ride in a generation 1 Cybercab. The company could share a detailed analysis of the addressable market, showing &#8220;tens of trillions of passenger vehicle miles and tens of trillions of $ of potential recurrent revenue (by 2050),&#8221; the analyst said.
Looking ahead to the Oct. 10 event, the analyst said he would look out for reinforcement regarding safety, which can be through comparing the safety of Tesla&#8217;s autonomous vehicle technology with human driving. Tesla may also have to show the rate of change of performance across recent full self-driving iterations, he said.
Investors will also look forward to the methodology, i.e. how the critical enabling technologies will likely drive further improvement in FSD/Cybercab autonomy, Jonas said. The Morgan Stanley analyst, however, does not expect Tesla to announce updates regarding its<a href="https://www.benzinga.com/news/24/07/39880470/elon-musk-pushes-back-optimus-timeline-says-teslas-humanoid-robot-will-hopefully-be-available-for-ot"> Optimus humanoid robot</a> at the event.
Tesla ended Wednesday&#8217;s session down 0.29% to $227.20, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a>
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40750932/tesla-bull-asks-investors-to-temper-expectations-concerning-robotaxi-day-but-reiter">Tesla Bull Asks Investors To Temper Expectations Concerning Robotaxi Day, But Reiterate Stock As Top Auto Pick: &#8216;Continues To Take Steps To Mitigate Downside Risks&#8217;</a></li>
</ul>
Image via Shutterstock

Reiteration

Analyst Ratings

Tesla Bull Explains Why Elon Musk's xAI Is Critical To EV Maker's Autonomous Ambitions

Wednesday&#8217;s trading session saw the stock market slip into the red following the Federal Reserve&#8217;s decision to <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40926026/federal-reserve-delivers-bold-0-5-rate-cut-signals-further-easing-ahead">cut interest rates by 0.5%</a>. This marks the beginning of the central bank&#8217;s highly anticipated cutting cycle, the first since March 2020. T
The Dow Jones Industrial Average dropped 0.25% to 41,503.10, while the S&amp;P 500 slipped 0.3% to 5,618.26. The Nasdaq also fell 0.3%, closing at 17,573.30.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)
Nvidia shares closed down 1.92% at $113.37, after hitting an intraday high of $117.7 and a low of $113.22. The stock&#8217;s 52-week high is $140.76, and its 52-week low is $39.23. The tech giant is considering a <a href="https://www.benzinga.com/m-a/24/09/40926078/nvidia-considers-165m-octoai-acquisition-aims-to-strengthen-ai-and-cloud-dominance">$165 million acquisition</a> of the OctoAI startup to bolster its software and cloud computing services.
T-Mobile US, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>)
T-Mobile shares ended the day down 2.97% at $196.68, with an intraday high of $206.1 and a low of $195.47. The stock&#8217;s 52-week high is $206.31, and its 52-week low is $135.82. The company announced a <a href="https://www.benzinga.com/markets/equities/24/09/40925493/t-mobile-partners-with-nvidia-ericsson-and-nokia-to-pioneer-ai-driven-mobile-networks">partnership</a> with Nvidia, Ericsson, and Nokia to pioneer AI-driven mobile networks. The company has also signed an agreement with OpenAI to transform customer experience and redefine customer success standards globally
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40913998/jamie-dimon-says-jpmorgan-is-likely-one-of-the-bigger-users-of-blockchain-technology-but-c?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jamie Dimon Says JPMorgan Is Likely &#8216;One Of The Bigger Users&#8217; Of Blockchain Technology, But Calls Cryptocurrencies A &#8216;Pet Rock&#8217;</a>
Vivos Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VVOS#NASDAQ">VVOS</a>)
Vivos Therapeutics shares surged 47.50% to close at $4.13, after hitting an intraday high of $5.95 and a low of $3.02. The stock&#8217;s 52-week high is $48.79, and its 52-week low is $1.91. The FDA granted 510(k) clearance to the company&#8217;s flagship oral medical device, poised to <a href="https://www.benzinga.com/news/24/09/40920621/vivos-therapeutics-says-it-is-poised-to-disrupt-pediatric-sleep-apnea-market-secures-fda-approval-fo">disrupt the pediatric sleep apnea market</a>.
SoFi Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>)
SoFi shares closed down 0.12% at $8.11, after hitting an intraday high of $8.53 and a low of $8.04. The stock&#8217;s 52-week high is $10.49, and its 52-week low is $6.01. The shares moved on heavy trading volume as investors <a href="https://www.benzinga.com/fintech/24/09/40928342/what-happened-with-sofi-stock-today">anticipated a rate cut</a> from the Federal Reserve.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla shares ended the day up 0.48% at $227.87, with an intraday high of $234.57 and a low of $226.55. The stock&#8217;s 52-week high is $273.93, and its 52-week low is $138.8. The shares traded higher likely due to the broader market reaction to the Federal Reserve's <a href="https://www.benzinga.com/news/24/09/40927218/tesla-shares-surge-amid-fed-rate-cut-and-cybertruck-developments">recent policy decision</a> to cut interest rates.
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.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/09/40917216/elon-musk-says-warren-buffett-is-positioning-for-kamala-harris-win-with-his-277b-cash-pile-as-pr?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says Warren Buffett Is Positioning For Kamala Harris Win With His $277B Cash Pile As Pro-Trumper John Paulson Warns Of Equity Market Exit</a></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>

SOFI

TMUS

VVOS

Nvidia, T-Mobile US, Vivos Therapeutics, SoFi Technologies, Tesla: Why These 5 Stocks Are On Investors' Radars Today

Tesla Inc. shares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) are trading higher Wednesday likely due to the broader market reaction to the Federal Reserve&#8217;s recent policy decision to <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40926026/federal-reserve-delivers-bold-0-5-rate-cut-signals-further-easing-ahead">cut interest rates by 50 basis points</a>, marking the first rate cut in over four years.
<h4 class="wp-block-heading">Federal Reserve Update</h4>
The cutting of the federal funds rate to a range of 4.75%–5% has resonated across multiple different markets. Specifically:
<ul>
<li>Dollar Weakening:&nbsp;The U.S. dollar fell, particularly against the Japanese yen.</li>
<li>Treasury Yields:&nbsp;Fell, causing bond prices to rise.</li>
<li>Gold Prices:&nbsp;Soared by 1%, reaching new all-time highs.</li>
<li>S&amp;P 500:&nbsp;Achieved record highs, increasing by 0.4%.</li>
<li>Small Caps:&nbsp;Surged by 1.5%, as seen in the performance of the iShares Russell 2000 ETF.</li>
</ul>
The Fed&#8217;s statement provided a glimpse into their projections, indicating lowered estimates for economic growth and inflation while projecting higher unemployment rates for the coming years. The Dot Plot suggests further cuts in interest rates are likely, with anticipated reductions of another 100 basis points by the end of 2024.
<h4 class="wp-block-heading">Updates on Tesla's Cybertruck</h4>
Recent guidance and legal actions involving Tesla's Cybertruck have also been in the spotlight:
<ol>
<li>Engineer Wes Morrill's Advisory:
<ul>
<li>Warning Against Extension Cords:&nbsp;Morrill, Tesla&#8217;s Cybertruck lead engineer, advised users against the use of extension cables on superchargers, citing risks of cable overheating and shorting. This reinforces Tesla&#8217;s previous stance against practices that interfere with its supercharger system, such as the use of wet towels to accelerate charging.</li>
</ul>
</li>
<li>Legal Action Against EVject:
<ul>
<li>Safety Concerns:&nbsp;Tesla has filed a lawsuit against EVject, claiming that their &#8220;breakaway&#8221; charging connectors are unsafe as they lack over-temperature protection, posing risks of burns and fires.</li>
</ul>
</li>
<li>Celebrity Engagement:
<ul>
<li>Kim Kardashian's Custom Cybertruck:&nbsp;Kim Kardashian made headlines with her uniquely painted Cybertruck, diverging from its standard paintless stainless steel exterior. This move underscores the customization appeal among high-profile owners.</li>
<li>Other Celebrity Owners:&nbsp;Big names such as Jay-Z, Beyonce, Lady Gaga, and others, have also been spotted with the Cybertruck, adding to its cultural cachet.</li>
</ul>
</li>
</ol>
TSLA Price Action: Tesla shares were up by 1.33% at $230.89 according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro.</a>
<figure class="wp-block-image size-large is-resized"><a href="https://benzinga.slack.com/archives/D072651PB4K/p1722883001180099"><img loading="lazy" decoding="async" width="1024" height="555" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/18150709/TSLA-1-1024x555.png" alt="" class="wp-image-554864" style="width:498px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/18150709/TSLA-1-1024x555.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/18150709/TSLA-1-300x162.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/18150709/TSLA-1-768x416.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/18150709/TSLA-1.png 1071w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
See Also:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40926668/why-enphase-energy-enph-stock-is-popping-off">Why Enphase Energy (ENPH) Stock Is Popping Off</a></li>
</ul>
Image via Shutterstock.

Tesla Shares Surge Amid Fed Rate Cut And Cybertruck Developments

Tesla shares are trading higher in possible sympathy with the broader market after the Fed's policy decision to cut rates by 50 basis points.

Kim Kardashian is among the celebrities who own a Cybertruck, the electric pickup truck from Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) that <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/11/36032944/cybertruck-delivery-event-elon-musk-highlights-teslas-best-product-says-finally-the">began deliveries in November 2023.</a>
While some celebrities have used custom wraps for their Cybertrucks, Kardashian recently had her vehicle painted.
What Happened: The Cybertruck is delivered as a paintless vehicle due to its unique stainless steel exterior, something that Tesla CEO Elon Musk has<a href="https://www.benzinga.com/news/23/12/36104426/elon-musk-wanted-to-make-a-vehicle-for-the-future-one-that-blade-runner-would-drive"> praised as part of the design</a>.
"I specifically wanted to make something that looks like the future. What car would Blade Runner drive?" Musk previously said.
Musk has often spoken about the unique design and stainless steel frame, but doesn't seem to be opposed to customization by owners with various wraps.
One question will be how Musk feels about Kardashian having her Cybertruck painted.
Platinum Motorsport Group, a California custom vehicle tuner, highlighted the Cybertruck on <a href="https://www.instagram.com/platinum_group/?hl=en">Instagram</a>, as reported by <a href="https://electrek.co/2024/09/17/kim-kardashian-painted-tesla-cybertruck-dop-nope/">Electrek</a>.
"Yes, it's a satin metallic silver. We have came up with a special formula for her and all her vehicles are painted that color. There are similar wraps, but not quite this," Platinum Motorsport told a user who asked if the vehicle had a wrap.
What's unknown is if the vehicle in the images shared by Platinum is a Cybertruck previously owned by Kardashian, or if she got a new one. Kardashian <a href="https://www.benzinga.com/general/entertainment/24/02/37228943/kim-kardashian-flaunts-new-tesla-cybertruck-on-instagram-adding-to-her-fleet-of-luxury-vehi">previously showed off </a>her Cybertruck in February with a caption of "cool carpool mom."
Musk may approve of the futuristic looking silver color and Platinum's caption of "outta space type of sh%."
Kardashian has previously shown off her collection of high-end vehicles, all painted the same custom color on her social media accounts.
The images shared by Platinum of the Cybertruck show the body, trims and bumpers all painted the custom silver color. As Electrek notes, several of these painted items are black. Another change to Kardashian's Cybertruck is the 26" Forgiato Travis Scott forged wheels, which replace the base 20" wheels.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent091824">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Why It's Important: The Cybertruck has attracted plenty of<a href="https://www.benzinga.com/general/entertainment/24/03/37852639/tesla-cybertruck-the-new-celebrity-fashion-accessory-steve-aoki-big-sean-latest-to-own-ev"> celebrities as owners</a>, a point that Musk has often celebrated.
Among the owners of Cybertruck are Big Sean, Steve Aoki, Alexis Ohanian, Jay-Z, Beyonce, Lady Gaga, Pharrell Williams, Justin Bieber and Jay Leno.
The Cybertruck has been used in music videos and was recently<a href="https://www.benzinga.com/news/24/09/40781531/jason-and-travis-kelces-beer-company-features-cybertruck-in-new-ad-can-the-ev-elon-musk-envisioned-f"> featured in a beer advertisement</a> from former NFL player Jason Kelce.
Jay-Z and Beyonce have a black matte wrap on their Cybertruck, which <a href="https://www.benzinga.com/general/entertainment/24/02/37406396/jay-z-beyonc-personalize-their-cybertruck-elon-musk-reacts">earned the one-word response </a>of "nice" from Musk on social media.
Musk likely doesn't care whether celebrities get wraps or paint their Cybertrucks, what he does care about is the electric pickup truck being a top seller in the sector and among vehicles in its price range.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/07/39918390/tesla-q2-earnings-highlights-revenue-beat-eps-miss-robotaxi-update-2024-growth-rate-to-be-notably-l">Tesla Q2 Earnings Highlights: Revenue Beat, EPS Miss, Robotaxi Update, 2024 Growth Rate To Be &#8216;Notably Lower&#8217; Than 2023</a></li>
</ul>
Photo: Shutterstock

Entertainment

Kim Kardashian Debuts Custom Metallic Silver Cybertruck: Will Elon Musk Approve The Celebrity Makeover?

Shares of stocks across sectors are trading higher after the Federal Reserve cut rates by 50 bps.

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>TSLA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>09/20/24</td>
<td>$230.00</td>
<td>$25.7K</td>
<td>57.0K</td>
<td>68.6K</td>
</tr>
<tr>
<td>JD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$37.50</td>
<td>$28.6K</td>
<td>21.3K</td>
<td>3.3K</td>
</tr>
<tr>
<td>AMZN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$200.00</td>
<td>$26.8K</td>
<td>26.8K</td>
<td>1.2K</td>
</tr>
<tr>
<td>LEVI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$20.00</td>
<td>$26.3K</td>
<td>520</td>
<td>1.0K</td>
</tr>
<tr>
<td>BABA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$90.00</td>
<td>$44.4K</td>
<td>21.8K</td>
<td>921</td>
</tr>
<tr>
<td>PDD</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$95.00</td>
<td>$28.5K</td>
<td>7.1K</td>
<td>477</td>
</tr>
<tr>
<td>FL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$25.00</td>
<td>$148.0K</td>
<td>472</td>
<td>400</td>
</tr>
<tr>
<td>W</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$50.00</td>
<td>$25.6K</td>
<td>2.5K</td>
<td>238</td>
</tr>
<tr>
<td>GM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$48.00</td>
<td>$40.3K</td>
<td>1.4K</td>
<td>134</td>
</tr>
<tr>
<td>DECK</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$150.00</td>
<td>$29.6K</td>
<td>25</td>
<td>99</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• For TSLA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), we notice a call option sweep that happens to be neutral, expiring in 2 day(s) on September 20, 2024. This event was a transfer of 53 contract(s) at a $230.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $25.7K, with a price of $485.0 per contract. There were 57053 open contracts at this strike prior to today, and today 68627 contract(s) were bought and sold. 
• Regarding JD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>), we observe a call option sweep with bullish sentiment. It expires in 121 day(s) on January 17, 2025. Parties traded 691 contract(s) at a $37.50 strike. This particular call needed to be split into 113 different trades to become filled. The total cost received by the writing party (or parties) was $28.6K, with a price of $41.0 per contract. There were 21376 open contracts at this strike prior to today, and today 3373 contract(s) were bought and sold. 
• Regarding AMZN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), we observe a call option trade with bearish sentiment. It expires in 30 day(s) on October 18, 2024. Parties traded 180 contract(s) at a $200.00 strike. The total cost received by the writing party (or parties) was $26.8K, with a price of $149.0 per contract. There were 26885 open contracts at this strike prior to today, and today 1284 contract(s) were bought and sold. 
• Regarding LEVI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEVI#NYSE">LEVI</a>), we observe a call option sweep with bullish sentiment. It expires in 2 day(s) on September 20, 2024. Parties traded 1055 contract(s) at a $20.00 strike. This particular call needed to be split into 41 different trades to become filled. The total cost received by the writing party (or parties) was $26.3K, with a price of $25.0 per contract. There were 520 open contracts at this strike prior to today, and today 1063 contract(s) were bought and sold. 
• Regarding BABA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), we observe a call option sweep with bearish sentiment. It expires in 30 day(s) on October 18, 2024. Parties traded 499 contract(s) at a $90.00 strike. This particular call needed to be split into 17 different trades to become filled. The total cost received by the writing party (or parties) was $44.4K, with a price of $89.0 per contract. There were 21885 open contracts at this strike prior to today, and today 921 contract(s) were bought and sold. 
• For PDD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>), we notice a put option trade that happens to be bearish, expiring in 30 day(s) on October 18, 2024. This event was a transfer of 125 contract(s) at a $95.00 strike. The total cost received by the writing party (or parties) was $28.5K, with a price of $228.0 per contract. There were 7143 open contracts at this strike prior to today, and today 477 contract(s) were bought and sold. 
• Regarding FL (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FL#NYSE">FL</a>), we observe a call option trade with bullish sentiment. It expires in 30 day(s) on October 18, 2024. Parties traded 400 contract(s) at a $25.00 strike. The total cost received by the writing party (or parties) was $148.0K, with a price of $370.0 per contract. There were 472 open contracts at this strike prior to today, and today 400 contract(s) were bought and sold. 
• Regarding W (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/W#NYSE">W</a>), we observe a put option trade with bearish sentiment. It expires in 58 day(s) on November 15, 2024. Parties traded 45 contract(s) at a $50.00 strike. The total cost received by the writing party (or parties) was $25.6K, with a price of $570.0 per contract. There were 2584 open contracts at this strike prior to today, and today 238 contract(s) were bought and sold. 
• For GM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), we notice a call option sweep that happens to be bullish, expiring in 121 day(s) on January 17, 2025. This event was a transfer of 95 contract(s) at a $48.00 strike. This particular call needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $40.3K, with a price of $425.0 per contract. There were 1477 open contracts at this strike prior to today, and today 134 contract(s) were bought and sold. 
• For DECK (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>), we notice a put option trade that happens to be bearish, expiring in 184 day(s) on March 21, 2025. This event was a transfer of 24 contract(s) at a $150.00 strike. The total cost received by the writing party (or parties) was $29.6K, with a price of $1234.0 per contract. There were 25 open contracts at this strike prior to today, and today 99 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

BABA

DECK

LEVI

Citigourp Global Markets 2% Protected Notes Linked To The Djia

To gain an edge, this is what you need to know today.
<figure class="wp-block-image size-large"><img decoding="async" src="https://thearorareport.com/wp-content/uploads/2024/09/2024-09-18_08h25_17.png" alt="" /></figure>
<h3 class="wp-block-heading">Fed Credibility At Stake</h3>
Please <a href="https://thearorareport.com/chart-analysis-stock-market-fed-day-rate-cut-wall-street-positioning-spy-mc-09182024">click here</a> for an enlarged chart of  SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) which represents the benchmark stock market index S&amp;P 500 (SPX).
Note the following:
<ul>
<li>The chart shows that the stock market is near the resistance zone.</li>
<li>The chart shows that the rally has been on low volume.&nbsp; This indicates a lack of conviction.</li>
<li>The chart shows that RSI has just entered the overbought zone.&nbsp; This indicates that the stock market can go either way.</li>
<li>The chart shows that if the stock market does not break out and turns down from here, it will be tracing a triple top.&nbsp; A triple top is a negative pattern.</li>
<li>FOMC will announce its rate decision at 2pm ET today and will be followed by Powell's press conference at 2:30pm ET.</li>
<li>Understanding Wall Street positioning can give investors a big edge.&nbsp; Wall Street is positioned for a 50 bps cut and highly dovish comments.</li>
<li>In The Arora Report analysis, the totality of data does not justify a 50 bps cut.&nbsp; Further in The Arora Report analysis, the totality of data does not justify very dovish commentary.&nbsp;</li>
<li>In The Arora Report analysis, if the Fed complies with the momo crowd's demands, the Fed's credibility will be hurt in the long run.&nbsp; There may be unintended consequences.&nbsp; One unintended consequence may be a rise in long term yields in due course.&nbsp; The other potential unintended consequence may be an unhealthy drop in the dollar.&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>If the momo crowd gets what they want, S&amp;P 500 at 6000 is a magnet for traders.</li>
<li>If the momo crowd gets what they want, the momo crowd will aggressively buy.&nbsp; However, it is not clear how smart money will react.&nbsp; There is a fair probability of smart money taking advantage of the strength to sell.</li>
<li>If the Fed cuts by 25 basis points, then the market reaction will depend on commentary and the dot plot.</li>
<li>In The Arora Report analysis, if the Fed cuts by 25 bps and the commentary is not dovish, there is a downside risk to the stock market.&nbsp;</li>
<li>Prudent investors need to be very mindful that the Fed is about to cut interest rates at a time when the stock market is near its all time high, house prices are near all time highs, and the economy is strong.&nbsp; Historically, the Fed cuts interest rates when the economy is weak or in recession, house prices are falling, and the stock market is weak.&nbsp; By aggressively cutting interest rates now accompanied by highly dovish commentary, the Fed risks its long term credibility.&nbsp; &nbsp; Highly dovish action now also has the potential to start rampant speculation in stocks, housing, and cryptos.</li>
<li>A 50 bps cut and highly dovish commentary will be helpful for a Harris election.&nbsp; The Fed will never admit it, but there is a school of thought that the Fed wants to help Harris win the election.&nbsp; The reason is that Trump has already said he will not reappoint Powell.&nbsp; Further, Trump has said that he will interfere with the Fed.</li>
</ul>
<h3 class="wp-block-heading">Housing Starts</h3>
Housing starts came at 1356K vs. 1320K consensus.
Building permits came at 1475K vs. 1415K consensus.
In The Arora Report analysis, activity among builders is increasing as they anticipate falling interest rates will let loose pent up demand.&nbsp; This will increase economic activity, which in turn is good for the stock market.&nbsp;
<h3 class="wp-block-heading">Magnificent Seven Money Flows</h3>
In the early trade, money flows are positive in Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Alphabet Inc Class C (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), and Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>).
In the early trade, money flows are neutral in Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).
In the early trade, money flows are positive in SPY and Invesco QQQ Trust Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>).
<h3 class="wp-block-heading">Momo Crowd And Smart Money In Stocks</h3>
Investors can gain an edge by knowing money flows in SPY and QQQ.  Investors can get a bigger edge by knowing when smart money is buying stocks, gold, and oil.  The most popular ETF for gold is SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>).  The most popular ETF for silver is iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>).  The most popular ETF for oil is United States Oil ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>).
<h3 class="wp-block-heading">Bitcoin</h3>
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is seeing buying in anticipation of a 50 bps rate cut.&nbsp; Bullish crypto gurus are hopeful that a 50 bps cut will take bitcoin to a new high.
<h3 class="wp-block-heading">Protection Band And What To Do Now</h3>
It is important for investors to look ahead and not in the rearview mirror.
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges.&nbsp; The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive.&nbsp; If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
A protection band of 0% would be very bullish and would indicate full investment with 0% in cash.&nbsp; A protection band of 100% would be very bearish and would indicate a need for aggressive protection with cash and hedges or aggressive short selling.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.&nbsp; When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks.&nbsp; High beta stocks are the ones that move more than the market.
<h3 class="wp-block-heading">Traditional 60/40 Portfolio</h3>
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of five year duration or less.&nbsp; Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever <a href="https://thearorareport.com/generate-wealth-newsletter-benzinga">Generate Wealth Newsletter</a>.

Fed Credibility At Stake - Wall Street Positioned For 50 BPS Cut And Highly Dovish Comments

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