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UBS Posts Upbeat Earnings, Joins Victoria&#39;s Secret, Performance Food Group, Kellanova And Other Big Stocks Moving Higher On Wednesday

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A wave of bullish sentiment swept through Wall Street on Tuesday after lower-than-expected producer inflation data solidified expectations for Federal Reserve rate cuts, prompting speculators to increase bets on a more significant 50

Tech Stocks Soar, Treasury Yields Fall On Cool Inflation Data; Starbucks Rockets, Chipotle Plummets: What&#39;s Driving Markets Tuesday?

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Dow Dips Over 100 Points Ahead Of Key Inflation Data: Greed Index Remains In &#39;Extreme Fear&#39; Zone

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MORGAN STANLEY B.V. 17/08/26 WNT

POWER & DIGITAL INFRASTRUCTURE ACQUISITION II CORP UNIT 1 CL A & 1/2 WT EXP

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XPeng Inc. American depositary shares, each representing two Class A ordinary shares

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Shengfeng Development shares are trading higher after the company announced a renewal of its logistics services contract with BYD.

Chinese tech industry barometer Alibaba Group Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) <a target="_blank" href="https://in.benzinga.com/markets/equities/24/09/40995459/tata-steel-nmdc-other-steel-stocks-shine-as-china-announces-stimulus-measures" rel="noreferrer noopener">stock gained</a> on Tuesday after <a target="_blank" href="https://in.benzinga.com/markets/equities/24/09/40995459/tata-steel-nmdc-other-steel-stocks-shine-as-china-announces-stimulus-measures" rel="noreferrer noopener">China&#8217;s central bank</a> announced plans to slash banks&#8217; reserve requirement ratio (RRR) by 50 basis points or half a percentage point.
The central bank will also cut the seven-day reverse repurchase rate to 1.5% from 1.7%.&nbsp;
Alibaba rivals Baidu, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>), PDD Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>), and JD.com, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) also noted an upward movement in their stock prices in Tuesday premarket trading.
Battered Chinese electric vehicle stocks, including NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>), XPeng Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>), Li Auto Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>), and ZEEKR Intelligent Technology Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZK#NYSE">ZK</a>), were also up on Tuesday premarket.
Also Read: <a target="_blank" href="https://www.benzinga.com/government/24/09/40977069/alibaba-teams-up-with-nvidia-to-supercharge-evs-for-chinese-automakers-report" rel="noreferrer noopener">Alibaba Teams Up With Nvidia to Supercharge EVs for Chinese Automakers: Report</a>
The Chinese companies have been battling the double whammy of a weak domestic economy and geopolitical tensions with the U.S., impairing their artificial intelligence technology ambitions.
Alibaba and its peers struggled with intense domestic price wars in their e-commerce and cloud businesses as the U.S. restricted their access to sophisticated AI chips, restricting their growth momentum.
AI technology has been pivotal in upgrading hyperscaler businesses, including e-commerce, logistics, electric vehicles, and more.
Last week, the stocks got a boost from the <a target="_blank" href="https://www.benzinga.com/government/24/09/40936014/whats-going-on-with-chinese-tech-stocks-like-alibaba-pdd-on-thursday" rel="noreferrer noopener">U.S. Fed rate cut</a>. The U.S. Fed slashed the lending rate by 50 bps, lowering the central bank&#8217;s benchmark rate to 4.75%-5% to spur demand. Analysts expect the cut to drive growth in discretionary spending from U.S. companies.
Investors can gain exposure to Chinese stocks through iShares China Large-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXI#NYSE">FXI</a>) and KraneShares Trust KraneShares CSI China Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KWEB#NYSE">KWEB</a>).
Price Actions: At the last check on Tuesday, BABA stock was up 6.25% at $95.72 premarket. PDD was up 5.32% at $107.71, JD was up 8.53% at $32.30, BIDU was up 5.12% at $92.80, NIO was up 8.08%, XPEV was up 7.85%, LI was up 8.96%, and ZK was up 6.74%.
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<li><a href="https://www.benzinga.com/markets/asia/24/09/40986319/chinese-stocks-defy-bidens-auto-import-ban-concerns-rally-to-4-month-highs-as-central-bank-unexpecte" target="_blank" rel="noreferrer noopener">Chinese Stocks Defy Biden&#8217;s Auto Import Ban Concerns, Rally To 4-Month Highs As Central Bank Unexpectedly Slashes Interest Rates</a></li>
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Photo by Eric Prouzet on Unsplash

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Citigourp Global Markets 2% Protected Notes Linked To The Djia

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What's Going On With Chinese Stocks Alibaba, NIO, XPeng, Li Auto On Tuesday?

Nano Labs shares are trading higher. The company announced a proposed 10-for-1 share consolidation program and will vote on it during the 2024 annual shareholders meeting next month.

- Reuters Citing Two Security Sources In Lebanon &nbsp;

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iShares MSCI Israel Capped Investable Market Index Fund

ISRA

Israeli Airstrike On Beirut Killed Hezbollah Commander Ibrahim Qubaisi; Hezbollah Commander Killed In Strike Was Leading Member In Group's Rocket Division

Contracts

Shengfeng Development Limited Renews Logistics Services Contract With BYD; Financial Terms Of Renewal Not Disclosed

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a<a href="https://www.benzinga.com/yield-investments"> high dividend payout</a>.
Benzinga readers can review the latest analyst takes on their favorite stocks by visiting <a href="https://www.benzinga.com/analyst-stock-ratings">Analyst Stock Ratings</a> page. Traders can sort through Benzinga's extensive database of analyst ratings, including <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">by analyst accuracy</a>.
Below are the ratings of the most accurate analysts for three high-yielding stocks in the information technology sector.
<h3 class="wp-block-heading">Xerox Holdings Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XRX#NASDAQ">XRX</a>)</h3>
<ul>
<li>Dividend Yield: 9.83%</li>
<li>Loop Capital analyst Ananda Baruah maintained a Hold rating and cut the price target from $14 to $11 on Aug. 14. This analyst has an accuracy rate of 74%.</li>
<li>Citigroup analyst Asiya Merchant initiated coverage on the stock with a Sell rating and a price target of $11 on June 28. This analyst has an accuracy rate of 73%.</li>
<li>Recent News: On Sept. 17, Xerox said CFO Xavier Heiss will retire on Feb. 1, 2025.</li>
<li>Benzinga Pro's real-time newsfeed alerted to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092424&amp;t=be2bearmibe3na1">latest XRX news.</a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092424&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="907" height="810" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/24050204/image-184.png" alt="" class="wp-image-562635" style="width:682px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/24050204/image-184.png 907w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/24050204/image-184-300x268.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/24050204/image-184-768x686.png 768w" sizes="(max-width: 907px) 100vw, 907px" /></a></figure>
<h3 class="wp-block-heading">Methode Electronics, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MEI#NYSE">MEI</a>)</h3>
<ul>
<li>Dividend Yield: 4.93%</li>
<li>Jefferies analyst Saree Boroditsky initiated coverage on the stock with a Hold rating and a price target of $12 on April 9. This analyst has an accuracy rate of 60%</li>
<li>Sidoti &amp; Co. analyst John Franzreb downgraded the stock from Buy to Neutral on March 7. This analyst has an accuracy rate of 75%.</li>
<li>Recent News: On Sept. 12, Methode Electronics&#8217; board named Mark Schwabero as new Chairman of the Board.</li>
<li>Benzinga Pro&#8217;s charting tool helped identify th<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092424&amp;t=be2bearmibe3na1">e trend in MEI stock</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092424&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="917" height="841" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/24050309/image-185.png" alt="" class="wp-image-562636" style="width:674px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/24050309/image-185.png 917w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/24050309/image-185-300x275.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/24050309/image-185-768x704.png 768w" sizes="(max-width: 917px) 100vw, 917px" /></a></figure>
<h3 class="wp-block-heading">HP Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPQ#NYSE">HPQ</a>)</h3>
<ul>
<li>Dividend Yield: 3.13%</li>
<li>Loop Capital analyst Ananda Baruah maintained a Hold rating and cut the price target from $37 to $35 on Sept. 5. This analyst has an accuracy rate of 75%.</li>
<li>Barclays analyst Tim Long maintained an Equal-Weight rating and lowered the price target from $33 to $32 on Aug. 29. This analyst has an accuracy rate of 74%.</li>
<li>Recent News: On Aug. 28, HP reported better-than-expected third-quarter financial results and increased its share repurchase authorization to $10 billion in total.</li>
<li>Benzinga Pro&#8217;s signals feature notified of a potential <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092424&amp;t=be2bearmibe3na1">breakout in HPQ shares. </a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092424&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="891" height="810" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/24050350/image-186.png" alt="" class="wp-image-562638" style="width:641px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/24050350/image-186.png 891w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/24050350/image-186-300x273.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/24050350/image-186-768x698.png 768w" sizes="(max-width: 891px) 100vw, 891px" /></a></figure>
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="How to Find Dividend Stocks: Scan, Analyze, and Capture with Benzinga Pro" width="500" height="281" src="https://www.youtube.com/embed/pVF0O2lsEH4?start=1&#038;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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</figure>
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<li><a href="https://www.benzinga.com/markets/24/09/40991631/jim-cramer-says-this-utilities-stock-is-a-buy-we-need-cheap-power">Jim Cramer Says This Utilities Stock Is A Buy: &#8216;We Need Cheap Power&#8217;</a></li>
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Dividends

Price Target

Analyst Ratings

Wall Street's Most Accurate Analysts' Views On 3 Tech Stocks Delivering High-Dividend Yields

ONFO

Onfolio Holdings To Acquire Majority Interest In Assets Of Eastern Standard; Purchase Price Of $2.16M For 90% Ownership

GCM Grosvenor (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GCMG#NASDAQ">GCMG</a>), a leading global alternative asset management firm, today announced that its Infrastructure Advantage Strategy has acquired a 25% equity interest in Shepherds Flat (the "Transaction"), the largest repowered wind farm in North America, from Brookfield Asset Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAM#NYSE">BAM</a>, TSX:<a class="ticker" href="https://www.benzinga.com/stock/BAM#TSX">BAM</a>) and its institutional partners, including its listed affiliate Brookfield Renewable (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEP#NYSE">BEP</a>, BEPC, TSX:<a class="ticker" href="https://www.benzinga.com/stock/BEP#TSX">BEP</a>, BEPC)))) ("Brookfield"). &nbsp;
Shepherds Flat, located in north central Oregon, is a fully contracted 338-turbine wind farm with a nameplate capacity of 845 MW. The wind farm produces in excess of 2,000 GWh of electricity annually, which is enough to power ~185,000 average U.S. households and is fully supported by a long-term contract with a large-scale utility.

GCMG

TSX:BAM

TSX:BEP

GCM Grosvenor Announces That Its Infrastructure Advantage Strategy Has Acquired A 25% Equity Interest In Shepherds Flat, From Brookfield Asset Management And Its Institutional Partners, Including Its Listed Affiliate Brookfield Renewable

FAAS

DigiAsia shares are trading higher after the company entered into a binding term sheet to be acquired by PayMate for $400 million.

Investment will support achievement of Energy Storage Industries – Asia Pacific's 400MW annual iron flow battery production target using ESS technology
ESS Tech, Inc. (ESS) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GWH#NYSE">GWH</a>), a leading manufacturer of long-duration energy storage systems (LDES) for commercial and utility-scale applications, today announced that its Australian partner, Energy Storage Industries – Asia Pacific (ESI), has received an investment of AU$25 million (~US$17 million) from the Queensland Government and raised a further AU$40 million (~US$23 million) in private capital to accelerate the clean energy transition in Australia and Oceania.
With the new investment, ESI will continue construction on a manufacturing facility in Maryborough, Queensland, Australia at which it will assemble long-duration iron flow battery systems. Core components for these systems will be manufactured by ESS in the United States and shipped to ESI for system assembly. The finished systems assembled by ESI will be delivered to customers across the region.

Global

ESS' Australian Partner Raises AU$65 Million In Public And Private Funds To Accelerate Iron Flow Deployments; Investment Will Support Achievement Of Energy Storage Industries, Asia Pacific's 400MW Annual Iron Flow Battery Production Target Using ESS Technology

Chinese stocks soared on Tuesday following an unexpected and substantial monetary stimulus from the <a href="https://www.benzinga.com/topic/china">People&#8217;s Bank of China (PBoC). </a>
The central bank announced cuts to the reserve requirement ratio (RRR) for banks and the seven-day repo rate, just a day after lowering the 14-day reverse repo rate.
<h3 class="wp-block-heading">People&#8217;s Bank of China Implements Aggressive Monetary Easing</h3>
The PBoC Governor, Pan Gongsheng, revealed a 50-basis-point cut to the bank&#8217;s reserve requirement ratio, reducing it from 10.0% to 9.5% for commercial banks. 
This cut is set to inject approximately 1 trillion yuan ($140 billion) of liquidity into the banking system, allowing banks more capital to lend.
In addition to the RRR cut, Pan also announced a 0.5 percentage point reduction in existing mortgage rates, offering relief to the struggling property market.
The seven-day repo rate was slashed by 20 basis points to 1.5%, while the 14-day reverse repo rate, already lowered on Monday, saw a 10-basis-point reduction to 1.85%. These moves are seen as a clear signal that Chinese policymakers are increasingly focused on addressing the economic slowdown.
<h3 class="wp-block-heading">Analysts Praise PBoC&#8217;s Moves</h3>
&#8220;The rare simultaneous cut of policy rates and the RRR, the relatively large magnitude of cuts, and unusual guidance on another 25-50 basis point RRR cut by the end of this year, indicated policymakers&#8217; growing concerns over downside risks to domestic economic activity,&#8221; wrote Xinquan Chen, an economist at Goldman Sachs, in a note.
While these monetary measures point to a more proactive stance from the Chinese government, Chen warned that more fiscal stimulus will be required to bolster domestic demand. 
Goldman Sachs expects another 25-basis-point RRR cut in the fourth quarter of 2024, along with further reductions in 2025. The bank forecasts two additional 25-basis-point RRR cuts in the first and third quarters of 2025, as well as two 10-basis-point policy rate cuts in the second and fourth quarters.
ING Group commented that markets had initially anticipated smaller 10-basis-point cuts, making the 20-basis-point reduction more aggressive than expected. However, they cautioned that the long-term impact would depend on whether the PBoC continues with more cuts or adopts a &#8220;wait-and-see&#8221; approach following the current measures.
&#8220;We feel today&#8217;s measures are a step in the right direction, especially as multiple policies were announced together rather than spaced out piecemeal. We continue to believe that there is room for further easing in the months ahead, as most global central banks are now on a rate-cut trajectory,&#8221; ING&#8217;s China chief economist Lynn Song said.
<h3 class="wp-block-heading">Market Reactions: Chinese Stocks, ETFs Rally</h3>
The Hang Seng Index jumped 4.13% on Tuesday, closing at 19,000.56 — the highest level since May. 
U.S.-listed ETFs investing in Chinese equities also rallied strongly in premarket trading. The iShares MSCI Hong Kong Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWH#NYSE">EWH</a>) was up 2%.
The Chinese yuan appreciated 0.3%, reaching its strongest levels since May. 
Major U.S.-listed ETFs focused on China also surged ahead of the market open. The KraneShares CSI China Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KWEB#NYSE">KWEB</a>) jumped 5.6%, the iShares China Large-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXI#NYSE">FXI</a>) climbed 5.4%, and the iShares MSCI China ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHI#NASDAQ">MCHI</a>) rose 5.3%.
Chinese companies listed on U.S. exchanges also saw significant premarket gains. 
Chinese EV-maker Li Auto Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) surged 8%, while NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) gained 7%. JD.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) rose 7.1%, and Alibaba Group Holdings Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), China's largest publicly traded company with a market capitalization of $209 billion, climbed 5.4%.
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Photo: Shan_shan/Shutterstock.com

Asia

Specialty ETFs

Emerging Market ETFs

MCHI

Chinese Stocks Jump As Central Bank Unveils Major Stimulus To Spur Economy: 'A Step In The Right Direction'

Donald Trump has promised a $1.5 trillion tax cut to eliminate income taxes on Social Security benefits. While popular among voters, the proposal raised concerns about its impact on the already strained Social Security system and the broader federal budget.
The former President's plan taps into a long-simmering frustration among retirees who are often surprised to find their Social Security benefits subject to taxation. According to Social Security Administration data cited by the Wall Street Journal, half of all recipients paid taxes on their benefits in 2023, an increase from just 10% when the tax was introduced in 1983.
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Trump's proposal appeal was evident in a WSJ poll which found that 83% of respondents favored eliminating taxes on Social Security benefits. Even when informed that the change could increase the national debt, a majority still supported the idea.
The proposal comes at an important time for Social Security. The <a href="https://www.benzinga.com/personal-finance/24/05/38943129/social-security-fears-go-viral-should-you-claim-early-like-dave-ramsey-says">program is projected to face a shortfall within the next decade</a>, potentially triggering automatic benefit cuts if Congress fails to act.&nbsp;
See Also: How do billionaires pay less in income tax than you?<a href="https://www.benzinga.com/money/tax-deferring-adv"> Tax deferring is their number one strategy</a>. The WSJ said the income tax on benefits currently accounts for about 4% of Social Security&#8217;s revenue and its repeal would accelerate the program&#8217;s fiscal challenges.
Democrats have countered with their proposal spearheaded by Connecticut Rep. John Larson. Their bill would reduce, but not eliminate, the tax on benefits while expanding the program. To offset the costs, it proposes new taxes on high earners, applying Social Security taxes to wages and investment income above $400,000.
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Trending: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." <a href="https://www.benzinga.com/money/connect-invest-real-estate-notes">These high-yield real estate notes that pay 7.5% &#8211; 9% make earning passive income easier than ever.</a>
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&#8220;We do something [Trump] doesn&#8217;t,&#8221; Rep. Larson told the WSJ. &#8220;We pay for it.&#8221;
Nancy Altman, who worked on the 1983 reform and now leads the advocacy group Social Security Works, noted the tax&#8217;s enduring unpopularity. &#8220;From the beginning, it&#8217;s not been well understood and been very unpopular,&#8221; Altman said.
The current system creates a compounded tax situation for many retirees. Benefits become taxable when a recipient&#8217;s total income, including half of their Social Security benefits, exceeds certain thresholds. The structure can result in surprisingly high marginal tax rates for working retirees, potentially discouraging them from seeking employment.
Some economists suggest that eliminating the tax could have mixed effects on <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40831982/producer-inflation-slows-to-1-7-yearly-in-august-jobless-claims-align-with-expect">the labor market</a>. While it might encourage some seniors to work longer or return to the workforce, it could also lead others to retire earlier, knowing they&#8217;ll keep more of their benefits.
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Trending: Founder of Personal Capital and ex-CEO of PayPal<a href="https://www.benzinga.com/money/evergreen-money"> re-engineers traditional banking with this new high-yield account — start saving better today.</a>
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Policy experts have proposed different approaches that could achieve similar goals without the price tag of Trump&#8217;s plan. Kyle Pomerleau of the American Enterprise Institute suggested including benefits in income from the first dollar while raising the standard deduction. This could prevent high marginal tax rates without &#8220;hemorrhaging $1.5 trillion,&#8221; Pomerleau argued.
Eric Beckman, a voter and 71-year-old retiree in Pennsylvania, sees potential benefits for middle-income retirees like himself, though he shared concerns about the impact on government finances.
The Tax Policy Center estimates that the tax cut would benefit 16% of all households, giving an average increase of $3,400. With Social Security&#8217;s financial health already in question, any major changes to its revenue structure will likely face scrutiny in the months ahead.
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<li>Elon Musk and Jeff Bezos are bullish on one city that could dethrone New York and become the new financial capital of the US.<a href="https://www.benzinga.com/money/miami-take-new-yorks-place-financial-capital"> Investing in its booming real estate market has never been more accessible.</a></li>
<li>Are you richer than most people you know?<a href="https://www.benzinga.com/money/are-you-richer-than-most-people"> Here&#8217;s the net worth you need at every age to be above average.</a></li>
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Personal Finance

Trump's Plan To Cut Social Security Taxes Is A Hit With Voters – But What's The Catch?

<ul>
<li>LUNR</li>
<li>TSLA</li>
<li>NVDA</li>
<li>BABA</li>
<li>WAY</li>
<li>INTC</li>
<li>MADE</li>
<li>POET</li>
<li>DJT</li>
<li>MU</li>
</ul>
Data from <a href="https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment">https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment</a>
&nbsp;

INTC

LUNR

MADE

NVDA

POET

TSLA

Top 10 Trending Stocks On WallStreetBets As Of September 24, 2024 (Via Swaggy Stocks)

Northland Capital Markets analyst Greg Gibas initiates coverage on Sky Harbour Group (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/SKYH#AMEX">SKYH</a>) with a Outperform rating and announces Price Target of $16.

Initiation

SKYH

Northland Capital Markets Initiates Coverage On Sky Harbour Group with Outperform Rating, Announces Price Target of $16

Nova Minerals shares are trading lower after the company announced it completed a $2.15 million secondary offering of 0.43 million American Depository Shares (ADS) at $5 per unit.

U. S. Steel's Big River Steel, located in Osceola, Arkansas, passed a rigorous set of standards in environmental, social, and governance categories that raise the bar for sustainability across the steel supply chain.
United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) ("U. S. Steel") today announced it is the first steel company in the world to qualify to sell its products as ResponsibleSteel Certified Steel at its Big River facility in Osceola, Arkansas. Big River received the first ResponsibleSteel Site Certification in North America in 2022 and is once again at the forefront of innovation by achieving certification for sustainably sourced and manufactured steel.

U.S. Steel Earns World's First Ever Certification For ResponsibleSteel Certified Steel At Its Big River Steel Operation

Disguise, Inc., a world leader in costume design and manufacturing, has officially announced new rights to design, produce, market, and distribute costumes and accessories for Paramount Animation and Hasbro's latest film, TRANSFORMERS ONE, in North America, LATAM and in some channels in EMEA. This newest addition to the iconic TRANSFORMERS movie franchise, produced by Paramount Animation and Hasbro and released by Paramount Pictures on September 20, 2024, is set to bring fresh excitement to fans globally. &nbsp;

JAKK

PARA

Disguise Announces New Rights To Design, Produce, Market, And Distribute Costumes And Accessories For Paramount Animation And Hasbro's Latest Film, Transformers One

Zoom Unveils New Advanced Enterprise Offerings To Enhance Efficiency, Security, And Compliance, Including Zoom Mesh, Compliance Manager Plus, And Meeting Survivability

Goldman Sachs CFO Denis Coleman stated that the Federal Reserve&#8217;s recent decision to lower interest rates by 50 basis points positions the U.S. economy for a soft landing.
What Happened: The Federal Open Market Committee voted last Wednesday to reduce the benchmark overnight borrowing rate by half a percentage point, targeting a rate of 4.75% to 5%. This marks the first significant cut since the early days of the COVID-19 pandemic.
Coleman expressed optimism while <a href="https://www.cnbc.com/2024/09/24/goldman-feds-jumbo-rate-cut-puts-the-us-on-track-for-soft-landing.html?ref=biztoc.com">talking</a> to CNBC on Monday, saying, &#8220;This first 50 basis point cut is a clear signal in terms of the new direction,&#8221; adding that he anticipates that this move will boost market confidence and reduce capital costs.
Talking about a soft landing, he said that while it is in the general consensus, "It's always a very tricky job to manage economies through transition. But you know, inflation levels are coming down, unemployment is manageable, they're starting to put through the rate cuts and sort of maintain a soft-landing trajectory.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/09/40931458/obama-era-economist-says-she-is-pleasantly-surprised-that-jd-vance-thinks-the-economy-is-too-strong?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Obama-Era Economist Says She Is &#8216;Pleasantly Surprised&#8217; That JD Vance Thinks The &#8216;Economy Is Too Strong For The Rate Cut&#8217;</a>
However, not all experts share this optimism. JPMorgan Chase CEO Jamie Dimon voiced skepticism in an interview, stating, &#8220;Short term, I&#8217;m a little more skeptical than other people that everything&#8217;s going to be great.&#8221;
Why It Matters: 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</a> by 50 basis points marks the first rate cut in over four years. This bold move surprised Wall Street analysts, who had expected a more modest 25-basis-point cut. The larger reduction resonated with investor sentiment, leaning towards a more aggressive easing approach.
Additionally, Chicago Federal Reserve President Austan Goolsbee hinted at a series of interest rate cuts over the next 12 months during a discussion at the Economic Club of Minnesota. Goolsbee suggested that the Fed is <a href="https://www.benzinga.com/etfs/specialty-etfs/24/09/40993016/feds-goolsbee-signals-multiple-rate-cuts-ahead-cites-recession-warning-signs-as-unemployment-">preparing to shift away</a> from its current restrictive stance to support economic conditions, as the focus shifts from inflation to the labor market. He warned that a 0.7% increase in unemployment within a year is typically a precursor to a recession, noting the rapid deterioration of the labor market.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40993998/mark-cuban-says-trumps-lack-of-understanding-business-is-insane-slams-200-tariff-threat-on-john-deer?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Says Trump&#8217;s Lack Of Understanding Business Is &#8216;Insane&#8217; — Slams 200% Tariff Threat On John Deere: &#8216;Good Way To Destroy A Legendary American Company&#8217;</a></li>
</ul>
Illustration created using artificial intelligence via MidJourney.
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>

Analyst Color

Fed's Rate Cut 'Maintain A Soft Landing Trajectory' For US Economy, Says Goldman Sachs

In a recent interview, Mark Moss, a veteran investor and Bitcoin advocate, offered an optimistic outlook on Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) future, highlighting several key factors driving <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40971599/well-its-crypto-its-ai-its-some-of-the-other-things-says-donald-trump-unsure-of-what-his-n">its potential growth.</a>
What Happened: In an <a href="https://www.youtube.com/watch?v=OVfyuXLd1PE">interview</a> with Bitcoin influencer Natalie Brunell, Moss emphasized the importance of "zooming out" to understand Bitcoin&#8217;s trajectory.
Despite short-term volatility, Bitcoin is up 130% year-over-year and 242% over two years, compared to a 31.8% gain by the S&amp;P 500 Index over a year and 54.8% increase in two years, according to Moss
He attributes this growth largely to global liquidity cycles, explaining that Bitcoin has an 8.95 times sensitivity to liquidity increases compared to traditional assets. This implies for every 10% increase in liquidity gold would go up by about 14% and Bitcoin would go up by 90%.
Looking ahead to the 2024 U.S. presidential election, Moss sees significant implications for Bitcoin&#8217;s adoption. 
He suggests that a <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40983160/donald-trump-sees-good-future-for-crypto-suggests-it-could-help-pay-off-35-trillion-nation">Trump victory</a>, which he estimates has a 65% chance, could lead to Bitcoin being added to <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40671868/trumps-bitcoin-strategic-reserve-proposal-will-chip-away-dollars-status-warns-expert-money">strategic reserves</a>, potentially pushing its price to $300,000-$400,000. A Harris victory, he believes, would result in a more conservative projection of $100,000-$150,000.
Contrary to the predictions of a market crash, Moss anticipates an "inflationary crash" where asset prices, including Bitcoin, continue to rise rapidly while standards of living decline due to wages not keeping pace. He expects this scenario to be more detrimental than a deflationary crash, as it eliminates opportunities for market re-entry.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40989601/5-reasons-why-bitcoin-rallied-10-in-7-days-to-63k-bernstein">5 Reasons Why Bitcoin Rallied 10% In 7 Days To $63K: Bernstein</a>
Regarding Bitcoin&#8217;s future role, Moss believes it will integrate more seamlessly into mainstream finance rather than remaining a niche interest. He doesn&#8217;t foresee significant regulatory hurdles in the U.S., citing Bitcoin&#8217;s entrenchment in political and financial circles.
Moss concluded by advising a long-term perspective on Bitcoin investment, emphasizing the strategy of earning in fiat currency, saving in Bitcoin, and holding assets indefinitely. This approach, he argues, aligns with the true "game of money" and can lead to greater financial success and peace of mind for investors.
What&#8217;s Next: The influence of&nbsp;<a href="https://www.benzinga.com/money/is-bitcoin-a-good-investment" target="_blank" rel="noreferrer noopener">Bitcoin as an institutional asset class</a>&nbsp;is expected to be thoroughly explored at Benzinga&#8217;s upcoming&nbsp;<a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a>&nbsp;event on Nov. 19.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40989892/bitcoins-22-rally-isnt-enough-it-must-break-august-high-to-overcome-downtrend-bitfinex-ana">Bitcoin&#8217;s 22% Rally Isn&#8217;t Enough, It Must Break August High To Overcome Downtrend, Bitfinex Analysts Say</a></li>
</ul>
Image created using artificial intelligence with Midjourney.

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

Cryptocurrency

Veteran Investor Mark Moss Predicts Bitcoin To Surge To $300K If Donald Trump Wins The Election

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