The Federal Reserve's Jackson Hole Economic Symposium kicks off Thursday, but all eyes are on Chair Jerome Powell's speech Friday at 10 a.m. ET. Markets are hoping for clues on interest rate cuts, but Powell is unlikely<a href="https://www.benzinga.com/topic/jerome-powell"> to commit just yet.</a>



<ul class="wp-block-list">
<li>VOO ETF has dropped nearly 2% this week. <a href="https://www.benzinga.com/quote/SPY">Time to buy the dip?</a></li>
</ul>



The theme of this year's event, "Labor Markets in Transition," couldn't be more timely, as the Fed grapples with a cooling jobs market and inflation that continues to run above target. 



Powell is set to speak on the "Economic Outlook and Framework Review," a topic that may offer insight into how the Fed is weighing risks ahead of its September 17 rate decision.



<h3 class="wp-block-heading">What The Fed Minutes Told Us</h3>



According to the <a href="https://www.benzinga.com/news/politics/25/08/47244480/federal-reserve-outlook-interest-rates-july-meeting-minutes-markets">Fed's July meeting minutes,</a> the majority of officials judged that "upside risk to inflation was the greater of the two risks", compared to unemployment. 



They also noted that tariff effects were becoming "more apparent in the data," particularly in goods price inflation.



Participants cautioned that the inflationary impact of tariffs remains hard to quantify, but many observed that "domestic businesses and consumers were predominantly bearing the tariff costs."



At the same time, labor cracks are widening. Some officials warned that "low levels of private payroll gains" and the narrow scope of hiring suggested emerging weakness. 



Still, most agreed that the job market remained at or near full employment.



<h3 class="wp-block-heading">Powell May Keep His Options Open</h3>



Analysts broadly expect Powell to avoid making strong commitments. 



Bank of America strategists don't believe Powell will validate market expectations for a September rate cut.



Powell&#8217;s comments on &#8220;a low breakeven rate of job growth (i.e., a slowdown in labor supply) or the stability of the unemployment rate would be hawkish,&#8221; strategists at Bank of America said.



Goldman Sachs expects Powell to update his July stance that the Fed is "well positioned to wait for more information", suggesting he may now emphasize downside labor market risks. 



The bank&#8217;s economist David Mericle still doesn't expect Powell to "decisively signal a September cut," but believe he'll make clear that he's "likely to support one."



Chris Zaccarelli, chief Investment Officer at Northlight Asset Management, said the minutes underscore why the Fed didn't cut in July — because inflation still outweighed jobs risk — but the September outlook remains fluid.



"On Friday in Jackson Hole, Chair Powell is likely to keep his cards close to his vest," Zaccarelli said, adding that Powell will stress the Fed's dual mandate and the need to see more data: the August jobs report (due Sept. 5) and inflation reports (Sept. 10-11).



Allspring's fixed income strategist George Bory expects Powell to reiterate caution due to lingering inflation risks from "tariffs and fiscal stimulus", while possibly hinting at a lower "neutral rate." 



Still, the Fed is likely to reiterate that policy is "in a good place" for now.



<h3 class="wp-block-heading">Rate Cut Bets Stay Strong—But That Leaves Room For A Market Letdown</h3>



Futures markets are still pricing in a 79% chance of a 25 basis-point cut in September, and nearly a 90% probability of two cuts by year-end, according to CME FedWatch data. 



That's a sizable cushion of optimism—one that could quickly unravel if Chair Jerome Powell adopts a more hawkish or noncommittal tone in Jackson Hole.



Markets have grown increasingly confident that the Fed will pivot soon, buoyed by softer job gains and recent signals from some Fed officials. 



But if Powell emphasizes inflation's resilience or plays down labor market risks, traders may be forced to quickly recalibrate expectations, potentially triggering volatility in stocks, bonds and rate-sensitive assets.



Now Read:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/real-estate/reit/25/08/47257772/new-yorks-return-to-office-remote-working-reits-stocks">New York&#8217;s Office Boom Stands Alone As Most US Cities Stay Remote</a> </li>
</ul>



Image created using artificial intelligence via Midjourney.

Analyst Color

Macro Economic Events

Econ #s

Economics

Analyst Ratings

Jackson Hole Preview: Don't Expect Powell To Wave The Rate-Cut Flag Yet

Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) shares are trading lower Thursday after the retail giant posted <a href="https://www.benzinga.com/markets/earnings/25/08/47266623/walmart-stock-tumbles-ceo-warns-tariffs-are-raising-costs">mixed second-quarter results</a>.



What To Know: Analyst Christopher Horvers at J.P. Morgan said fundamentals were strong but weighed down by higher-than-expected costs from self-insurance claims, which diluted earnings per share by about 4 cents to 5 cents. He noted that excluding those charges, earnings would still have fallen short of consensus estimates by roughly 1%. Reported EPS of 68 cents missed the Street's 74 cents forecast, though it grew 1.4% year over year.



Horvers pointed out that U.S. comparable sales rose 4.6%, slightly above J.P. Morgan's 4.5% estimate and ahead of Wall Street's 4.0% projection. He also mentioned that Walmart captured share across all income cohorts, with grocery sales up by mid-single digits, health and wellness sales up by the mid-teens, and general merchandise posting low single-digit growth. Gross margins expanded slightly, but operating margins fell nearly 60 basis points year over year, coming in below Street expectations.



The analyst also emphasized that guidance was more encouraging. Walmart has raised its full-year outlook, with consolidated sales now expected to grow 3.75–4.75% compared to 3–4% previously, and EPS projected at $2.52–2.62, up from $2.50–2.60. For the third quarter, management guided EPS between 58 cents and 60 cents, above Wall Street's 57 cents. E-commerce and advertising continued to show strength, with U.S. e-commerce sales up 26% and U.S. advertising up 31%.



Overall, Horvers noted that the disappointing second-quarter EPS created short-term pressure on the stock, but he stressed the report does not fundamentally alter the longer-term bullish case for Walmart.



WMT Price Action: Walmart shares were down 5.02% at $97.40 at the time of writing, according to <a href="https://pro.benzinga.com/dashboard?new_user=False&amp;backend=google-oauth2">Benzinga Pro.</a>



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/08/47261508/jackson-hole-preview-powell-interest-rate-outlook">Jackson Hole Preview: Don&#8217;t Expect Powell To Wave The Rate-Cut Flag Yet</a></li>
</ul>



Image Via Shutterstock.

News

Movers

Walmart Stock Falls on Mixed Q2 Results Despite Raised Guidance

On Wednesday, I showed you why we've officially entered one of the most dangerous stretches of the year. And today, I want to fill you in on something I've been watching for weeks.



It's what I believe could be the start of a much bigger move.



I'm talking about the action setting up on the S&amp;P 500 right now — and more specifically, how certain levels are revealing something most traders are missing.



That&#8217;s why today, I'm walking you through the current market environment, the price action that's shaping it, and what I think it all means for traders over the next several weeks.



<h2 class="wp-block-heading">30-Minute Trading Advantage, Free For 2 Weeks</h2>



Benzinga Pro alerts have led to major gains, like 270% on BLPH and 147% on CRBP. Access this market-shaping news before anyone else with Benzinga Pro's free two-week trial. <a href="https://www.benzinga.com/pro/two-week-trial/?utm_campaign=free-trial&amp;el=ResearchDaily&amp;he={{email}}&amp;adt_ei={{email}}&amp;utm_adType=SponsorAd&amp;utm_ad=RD082225">Click here to start now</a>.



You've probably heard me talk about a major support level on <a href="https://www.benzinga.com/quote/SPY">SPY</a> — and we just saw its price drop right down into it. That's not a coincidence. And it's not just "typical summer volatility," either.



This is the kind of price action that doesn't happen just for fun. It&#8217;s a calculated test of key Fibonacci levels — the same kind of setup that's signaled major moves in the past. And right now, it's happening as we approach one of the weakest stretches of the year for stocks.



If you're not familiar with Fibonacci tools, don't worry. I'm not here to get overly technical. Here's what it means in a nutshell:



The markets move in waves. Fibonacci levels help identify where those waves are likely to stall, bounce, or reverse. They're not a crystal ball, but they do give traders a clear edge when it comes to timing and structure. And based on what I see, that structure is starting to buckle.



Now, I've been standing firmly with the bulls this year, but they're about to be tested.



Because we&#8217;re sitting on a retracement zone that's acted like a floor more than once this year. And if we break through it, there's not much holding us up below. That means the drop could be sharper than most folks are ready for.



This isn't about doom and gloom, though. It's about recognizing what's possible and getting in position early. And to do that, I'm leaning on three key tools:



<h2 class="wp-block-heading">1. Pattern Recognition</h2>



This is where I start. The best trades I've ever made came from spotting reliable patterns that repeat across different markets and timeframes. And as I've said, I'm watching a clear retracement pattern that's developed on SPY. These setups tell me not only where price might move, but how fast it could get there. When you understand the rhythm of a market, you can anticipate the next move, not chase it.



<h2 class="wp-block-heading">2. Seasonality</h2>



The calendar matters more than most people realize, and not just for the days we're off. August through September is historically <a href="https://www.benzinga.com/trading-ideas/technicals/25/08/47244342/why-most-traders-get-crushed-this-time-of-year-and-how-you-can-avoid-it">one of the weakest times for the S&amp;P 500</a>, which we've seen play out year after year. But now that price is pressing into a technical level during a seasonally soft stretch, it's a major red flag for anyone holding long positions. Seasonality won't move the market on its own, but when it lines up with technical pressure like this, it's a powerful statement.



<h2 class="wp-block-heading">3. Alternative Risk Trades</h2>



I'm not just looking to make a prediction, I'm looking to manage risk while putting myself in the best position to profit. That's where alternative trades come in. I'm talking about things like debit spreads, diagonal plays, or even selling premium when the setup makes sense. These are the kinds of moves that let you define your risk and give yourself a wider window to be right, something every trader needs when volatility picks up.



Ultimately, this market is shifting. The moves we're seeing right now are likely just the start of something bigger.



Stay tuned for more on this next week.



Editorial content from our expert contributors is intended to be information for the general public and not individualized investment advice. Editors/contributors are presenting their individual opinions and strategies, which are neither expressly nor impliedly approved or endorsed by Benzinga.



Photo: Shutterstock

Opinion

Trading Ideas

What Most Traders Miss When The Market Starts To Crack

New York's return-to-office numbers are surging and corporate giants are pouring billions into new towers, but the rest of America's office <a href="https://www.benzinga.com/real-estate">desks are still empty. </a>



New York City has just reached a symbolic milestone. In July 2025, office visits in Manhattan rose 1.3% above the same month in 2019, according to data from location analytics firm Placer.ai.



It's the first time a major U.S. city has surpassed pre-pandemic office traffic. But far from disproving the work-from-home shift, the data actually shows how unusual New York has become.



<h2 class="wp-block-heading">Is New York The Exception, Not The Rule?</h2>



While The New York Post recently suggested that the office comeback narrative has been underreported, the numbers from Placer.ai tell a more nuanced — and more national — story. 



Across the country, office foot traffic is still down 25.6% from pre-pandemic levels. Los Angeles is off by 40%, San Francisco by 34.6%, and Chicago by 34.2%. Even Washington, D.C., a historically government-driven town, lags by 30.9%. Only Miami came close to New York, with a difference of -0.1%.



As journalist Alec MacGillis wrote on X, it's "really striking to what degree NY has become an outlier in recovering from the remote-work shift, especially given that it is the city that was hit first and hardest by the pandemic that prompted the shift."



<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">Really striking to what degree NY has become an outlier in recovering from the remote-work shift, especially given that it is the city that was hit first and hardest by the pandemic that prompted the shift. <a href="https://t.co/htOSx4s1fM">pic.twitter.com/htOSx4s1fM</a>&mdash; Alec MacGillis (@AlecMacGillis) <a href="https://twitter.com/AlecMacGillis/status/1957816039703519438?ref_src=twsrc%5Etfw">August 19, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h2 class="wp-block-heading">Why Is New York The Exception?</h2>



Wall Street is a major driver. 



JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) and Goldman Sachs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) have pulled thousands of workers back into their towers, with strict return-to-office mandates. 



JPMorgan alone will soon open its 2.5-million-square-foot global headquarters at 270 Park Ave., a $3 billion glass-and-steel statement about the future of in-person work.



Luxury plays a big role, too. Companies have rushed to secure high-end space in Midtown and Hudson Yards. Deloitte pre-leased 800,000 square feet before construction even finished. In the first six months of 2025, Manhattan's Class A "trophy" buildings saw 2 million square feet of leasing activity.



<h2 class="wp-block-heading">Office Real Estate Stocks Tell The Truth</h2>



If the return to office was truly widespread, as some recent headlines suggest, then the stock market hasn't received the memo. The performance of the largest publicly traded office real estate investment trusts (REITs) tells a starkly different story—one of structural weakness, not recovery.



More than five years after COVID-19 upended workplace norms, major U.S. office REITs remain deeply underwater, down between 35% and 67% compared to their mid-February 2020 levels.



Shares of Cousins Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CUZ#NYSE">CUZ</a>) are still down 35% from pre-Covid levels. Vornado Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNO#NYSE">VNO</a>) and SL Green Realty Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLG#NYSE">SLG</a>) are each down around 46%, while Boston Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BXP#NYSE">BXP</a>) has lost 55%. 



The worst performers include Kilroy Realty Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRC#NYSE">KRC</a>) and Douglas Emmett Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEI#NYSE">DEI</a>), both down more than 55% and 67%, respectively.



<h2 class="wp-block-heading">Performance Of Office REITs Stocks (Aug. 20, 2025 vs. Feb. 18, 2020)</h2>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="556" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/21084205/image-385-1024x556.png" alt="" class="wp-image-1038158" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/21084205/image-385-1024x556.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/21084205/image-385-300x163.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/21084205/image-385-768x417.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/21084205/image-385-1536x834.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/21084205/image-385-2048x1112.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



This isn't just a temporary lag—it's a sign of deeper, structural shifts in the way people work and how companies use space. Investors are betting that hybrid work, downsizing, and selective leasing will continue to weigh on the sector.



The market's broader skepticism toward office stocks is also evident in the VanEck Office and Commercial REIT ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DESK#NYSE">DESK</a>). Launched in September 2023 as a focused play on office recovery, the fund is trading mostly flat since December 2023—during the same period, the S&amp;P 500 has rallied 35%.



In other words, Wall Street isn't buying the return-to-office hype.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="556" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/21084205/image-385-1024x556.png" alt="" class="wp-image-1038158" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/21084205/image-385-1024x556.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/21084205/image-385-300x163.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/21084205/image-385-768x417.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/21084205/image-385-1536x834.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/21084205/image-385-2048x1112.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



Read Next:



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<li><a href="https://www.benzinga.com/news/politics/25/08/47244480/federal-reserve-outlook-interest-rates-july-meeting-minutes-markets">Fed Just Poured Cold Water On Rate Cut Hopes–And Tariffs Are To Blame</a> <span class="author" style="box-sizing: border-box; border: 0px solid rgb(229, 231, 235); --tw-scale-x: 1; --tw-scale-y: 1; --tw-pan-x: ; --tw-pan-y: ; --tw-pinch-zoom: ; --tw-scroll-snap-strictness: proximity; --tw-gradient-from-position: ; --tw-gradient-via-position: ; --tw-gradient-to-position: ; --tw-ordinal: ; --tw-slashed-zero: ; --tw-numeric-figure: ; --tw-numeric-spacing: ; --tw-numeric-fraction: ; --tw-ring-inset: ; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246/0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; --tw-blur: ; --tw-brightness: ; --tw-contrast: ; --tw-grayscale: ; --tw-hue-rotate: ; --tw-invert: ; --tw-saturate: ; --tw-sepia: ; --tw-drop-shadow: ; --tw-backdrop-blur: ; --tw-backdrop-brightness: ; --tw-backdrop-contrast: ; --tw-backdrop-grayscale: ; --tw-backdrop-hue-rotate: ; --tw-backdrop-invert: ; --tw-backdrop-opacity: ; --tw-backdrop-saturate: ; --tw-backdrop-sepia: ; --tw-contain-size: ; --tw-contain-layout: ; --tw-contain-paint: ; --tw-contain-style: ;"></li>
</ul>



Photo: phototrip2403/Shutterstock

REIT

Real Estate

DESK

New York's Office Boom Stands Alone As Most US Cities Stay Remote

Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) shares are trading lower in the premarket session on Thursday, after the company reported <a target="_blank" href="https://www.benzinga.com/pressreleases/25/08/b47254700/walmart-reports-revenue-growth-of-4-8-up-5-6-in-constant-currency-cc" rel="noreferrer noopener">second-quarter results</a> and raised its annual outlook.



The retail giant reported adjusted earnings per share of 68 cents, missing the analyst consensus estimate of 74 cents.



Quarterly sales of $177.40 billion, up 4.8% year over year, outpaced the Street view of $176.16 billion. Total revenues on a constant currency basis increased 5.6%.



<h2 class="wp-block-heading">Segments</h2>



Walmart reported a 4.6% increase in U.S. comparable sales (excluding fuel), while Sam's Club U.S. comparable sales (excluding fuel) rose 5.9%.



In the Walmart U.S. segment, transactions grew 1.5%, while average ticket rose 3.1%.



In Sam's Club U.S., transactions rose 3.9% and the average ticket grew 2.0%



Also Read: <a href="https://www.benzinga.com/node/47239874" target="_blank" rel="noreferrer noopener">Target&#8217;s Q2 Struggles Highlight Amazon, Walmart Competition</a>



<h2 class="wp-block-heading">Quarter In Detail</h2>



Adjusted operating income fell 0.8% year-over-year to $7.87 billion in the quarter under review, lower than $7.940 billion a year ago. The GAAP operating income fell 8.2% year-over-year to $7.29 billion.



Adjusted EBITDA margin slipped 10 basis points to 6.5%. Walmart said the decrease was primarily due to net sales growing faster than adjusted operating income.



The gross margin rate, however, improved by four basis points, primarily driven by Walmart U.S, <a target="_blank" href="https://stock.walmart.com/_assets/_4da1b34fb13ce313838713f042c2d746/walmart/db/938/9959/presentation/Earnings+Presentation+%28FY26+Q2%29.pdf" rel="noreferrer noopener">partially offset</a> by pressure in International. Quarterly margins gained from "continued benefits from strong inventory management in the U.S. and improved business mix; partially offset by merchandise category mix pressure."



Global eCommerce sales surged 25%, primarily driven by store-based pickup, delivery services, and marketplace growth.



The company's global advertising segment expanded by 46%, bolstered by contributions from VIZIO.



In the U.S., Walmart Connect recorded a 31% increase, reflecting strong momentum in its retail media operations.



Membership and other income rose 5.4%, supported by a 15.3% increase in global membership income.



Walmart exited the quarter with cash and equivalents worth $9.431 billion, higher than $8.811 billion a year ago.



<h2 class="wp-block-heading">Outlook</h2>



Walmart raised its fiscal year 2026 adjusted earnings per share guidance to $2.52–$2.62 from the prior $2.50–$2.60, compared to the $2.62 analyst estimate.



It raised the annual revenue growth outlook (in constant currency) to 3.75% to 4.75% year over year, translating to an increase from $694.735 billion to $701.480 billion (prior outlook) to $703.151 billion to $709.928 billion versus the $706.209 billion consensus.



Walmart projects that the third quarter adjusted earnings per share will range from 58 to 60 cents, above the 57 cents estimate. The company expects constant currency sales between $175.95 billion and $177.64 billion, compared to the $176.33 billion estimate.



However, the retailer cautioned that there would be approximately a 140-bps headwind from the VIZIO acquisition.



<h2 class="wp-block-heading">Conference Call</h2>



Walmart's CEO reportedly said the company is seeing its costs increase week after week as it replenishes inventory at post-tariff price levels.



He added that tariff-related costs are expected to rise further into the third and fourth quarters.



He also noted that middle and lower income customers are making more adjustments than higher-income shoppers in discretionary categories where prices have climbed.



During the conference call, Walmart's CFO reportedly said the company is closely monitoring customer demand and adjusting purchasing quantities as it gauges the price elasticity of tariff-impacted items.



Watch the live coverage of the Walmart conference call here



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Walmart Earnings Call Q2 2025 &#x7C; $WMT &#x7C; &#x1f534; WATCH LIVE" width="500" height="281" src="https://www.youtube.com/embed/yOk7gkukGOw?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div></figure>



Price Action: WMT shares are trading lower by 3.16% to $99.33&nbsp;premarket at last check Thursday.



Read This Next:



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<li><a href="https://www.benzinga.com/trading-ideas/short-ideas/25/08/47216393/top-2-financial-stocks-you-may-want-to-dump-in-q3" target="_blank" rel="noreferrer noopener">Top 2 Financial Stocks You May Want To Dump In Q3</a></li>
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Photo via Shutterstock

Earnings

Equities

Guidance

Markets

General

Walmart CEO Says Tariff Costs Expected To Rise, Lower And Middle Income Consumers Hit Most

Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) is drawing attention with rising treasury activity and institutional interest contradicting the recent <a href="https://www.benzinga.com/money/ethereum-eth-price-predictions#:~:text=Maximum%20Prediction%3A%20%246%2C485,regulatory%20developments%20could%20moderate%20prices.">downtrend in prices</a>.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Ticker</td><td>Price</td><td>Market Cap</td><td>7-Day Trend</td></tr><tr><td>Ethereum</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>$4,278.54</td><td>&nbsp;$516.5 billion</td><td>-9.3%&nbsp;</td></tr><tr><td>Bitcoin</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>$113,058.51</td><td>&nbsp;$2.3 trillion</td><td>-6.5%</td></tr><tr><td>XRP</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td><td>$2.90</td><td>&nbsp;$172.3 billion</td><td>-9.8%&nbsp;</td></tr></tbody></table></figure>



Trader Notes: Crypto chart analyst Ali Martinez <a href="https://x.com/ali_charts/status/1958458183308988887">exclaimed</a> that this could be Ethereum's "big moment" as it is trading in a descending channel, currently consolidating between $4,219–$4,342. He predicts that a break above $4,342 could push it to $4,516–$4,623, while a drop below $4,219 may target $4,061 and $3,862.



Crypto trader Jelle noted that after a falling wedge fakeout, Ethereum is near a breakout. 



Clearing $4,300 resistance and the 4h 50 EMA could spark a rapid move toward $5,000. 



He also <a href="https://x.com/CryptoJelleNL/status/1958452611578802418">highlighted</a> that $4,000 resistance has flipped to support, reducing overhead pressure and bringing all-time highs back into focus.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> faked out from the falling wedge, and is now inches away from breaking out! Still stuck below the $4300 resistance area, and the 4h 50ema &#8211; clear those and we&#39;ll be at $5k before you know it. Could get interesting, very quickly. &#x1f440; <a href="https://t.co/NzYBOyTldh">pic.twitter.com/NzYBOyTldh</a>&mdash; Jelle (@CryptoJelleNL) <a href="https://twitter.com/CryptoJelleNL/status/1958446228703961471?ref_src=twsrc%5Etfw">August 21, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Statistics: Miles <a href="https://x.com/milesdeutscher/status/1958144523089125472">pointed</a> out Ethereum is surpassing Bitcoin in Treasury Company trading volume, suggesting ETH has more room to grow and is the lesser "saturated trade."



StrategicETHReserve reports 69 entities hold 4.1 million ETH ($17.6B), roughly 3.4% of total supply. SharpLink Gaming (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBET#NASDAQ">SBET</a>), Bitmine (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/BMNR#AMEX">BMNR</a>) and ETHZilla Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETHZ#NASDAQ">ETHZ</a>) are among the top holders, with their ETH reserves spiking by 105%, 407% and 15%, respectively, over the past 30 days.



Coinglass data shows $135.6 million in ETH liquidations over 24 hours, with $83.5 million from shorts, indicating short-term bearish sentiment.



ETF flows turned negative ($240.1 million) as BlackRock outflows offset positive contributions from Fidelity and Grayscale.



Community News: Singapore's DBS Bank will <a href="https://www.dbs.com/newsroom/DBS_expands_blockchain_capabilities_by_tokenising_and_distributing_structured_notes">offer</a> tokenized structured notes on Ethereum to eligible investors via three third-party digital platforms and exchanges, capitalizing on Singapore's rising demand for advanced digital finance products.



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47193158/this-ethereum-trader-turned-125000-into-29-6-million-in-4-months">This Ethereum Trader Turned $125,000 Into $29.6 Million In 4 Months</a></li>
</ul>



Image: Shutterstock

Cryptocurrency

$BTC

$ETH

$XRP

BMNR

ETHZ

SBET

Ethereum Consolidates Below $4,300: Is $5,000 Or $4,000 Next?

Editor&#8217;s Note: The future prices of benchmark tracking ETFs, the lede, and the latest economic releases were updated in the story.



U.S. stock futures dropped on Thursday following Wednesday&#8217;s mixed close. Futures of major benchmark indices were lower.



The initial jobless claims rose to 235,000 in the week ending Aug. 14, just above the 226,000 consensus forecast.



The August 2025 Philadelphia Fed Manufacturing Business Outlook Survey weakened this month. The current general activity index fell to a near-zero reading, the new orders index dipped into negative territory, and the shipments index also declined but remained positive.



The three-day <a href="https://www.benzinga.com/markets/economic-data/25/08/47177191/jerome-powell-set-to-deliver-pivotal-jackson-hole-address-as-analysts-warn-it-could-be-make-or-break-moment-for-dovish-fed">Jackson Hole Economic Policy Symposium</a> begins today, with the Federal Reserve Chair Jerome Powell's speech expected on Friday. The theme for the 2025 symposium is &#8220;Labor Markets in Transition: Demographics, Productivity, and Macroeconomic Policy.&#8221; 



Meanwhile, President Donald Trump intensified his campaign to reshape the Federal Reserve on Wednesday, demanding that Governor Lisa Cook <a href="https://www.benzinga.com/news/politics/25/08/47252633/trump-says-fed-governor-must-resign-now-over-mortgage-allegations-as-lisa-cook-vows-no-intention-of-being-bullied-amid-doj-review">resign over mortgage fraud</a> allegations while the Justice Department reviews the case. Trump wrote, "Cook must resign, now!!!" on Truth Social.



After Home Depot Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) and Target Corp.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) earnings, investors await retail giant Walmart Inc.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) earnings, which are scheduled to be released today.



The 10-year Treasury bond yielded 4.30% and the two-year bond was at 3.76%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections show markets pricing an 81.2% likelihood of the Federal Reserve cutting the current interest rates for the Sept. 17 decision. 



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Dow Jones</td><td>-0.25%</td></tr><tr><td>S&amp;P 500</td><td>-0.11%</td></tr><tr><td>Nasdaq 100</td><td>-0.02%</td></tr><tr><td>Russell 2000</td><td>-0.33%</td></tr></tbody></table></figure>



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, fell in premarket on Thursday. The SPY was down 0.34% at $635.96, while the QQQ declined 0.34% to $563.98, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pr</a>o data.



<h2 class="wp-block-heading">Cues From Last Session</h2>



Energy, health care, and consumer staples stocks recorded the biggest gains on Wednesday, leading most sectors on the S&amp;P 500 to a positive close.



However, information technology and consumer discretionary stocks bucked the trend, as U.S. stocks settled mostly lower with the Nasdaq Composite falling more than 100 points.



The Federal Reserve indicated that inflation risks remain "considerable" due to uncertain trade tariff impacts, casting fresh doubt over imminent interest rate cuts, according to its July minutes. &#8212; <a href="https://www.benzinga.com/news/politics/25/08/47244480/federal-reserve-outlook-interest-rates-july-meeting-minutes-markets" title="https://www.benzinga.com/news/politics/25/08/47244480/federal-reserve-outlook-interest-rates-july-meeting-minutes-markets">https://www.benzinga.com/news/politics/25/08/47244480/federal-reserve-outlook-interest-rates-july-meeting-minutes-markets</a>



Shares of Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) fell 1%, its worst two-day slump since April. Lowe's Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) reported strong earnings, but Target Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) shares fell 6% on its results. On the economic front, U.S. mortgage applications fell 1.4%.



The Dow Jones index ended 16 points or 0.036% higher at 44,938.31, whereas the S&amp;P 500 index fell 0.24% to 6,395.78. Nasdaq Composite declined 0.67% to 21,172.86, and the small-cap gauge, Russell 2000, tumbled 0.32% to end at 2,269.35.



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>-0.67%</td><td>21,172.86</td></tr><tr><td>S&amp;P 500</td><td>-0.24%</td><td>6,395.78</td></tr><tr><td>Dow Jones</td><td>0.036%</td><td>44,938.31</td></tr><tr><td>Russell 2000</td><td>-0.32%</td><td>2,269.35</td></tr></tbody></table></figure>



<h2 class="wp-block-heading">Insights From Analysts</h2>



Ryan Detrick from Carson Research highlighted in his Mid-Year Earnings Recap report that &#8220;Nearly 60% of companies have raised their forward guidance for full-year EPS, something nearly unthinkable earlier this year when companies were withdrawing guidance completely in the wake of tariff uncertainty.&#8221;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&quot;Nearly 60% of companies have raised their forward guidance for full-year EPS, something nearly unthinkable earlier this year when companies were withdrawing guidance completely in the wake of tariff uncertainty.&quot;<a href="https://t.co/aehFOwXAxT">https://t.co/aehFOwXAxT</a>&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1958343960713465940?ref_src=twsrc%5Etfw">August 21, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



In a recent mid-year earnings recap, Grant Engelbart, Vice President and Investment Strategist at Carson Investment Research, concludes that as the second-quarter earnings season for 2025 draws to a close, a clear picture has emerged: corporate America is thriving.



His analysis highlights that despite economic uncertainties, S&amp;P 500 companies have delivered a remarkably solid set of results, fueled by the artificial intelligence boom and supported by broad-based strength.



A standout feature of the quarter, Engelbart notes, was the sheer number of companies that surpassed analyst forecasts. According to data from S&amp;P Global cited in his report, a remarkable 78% of S&amp;P 500 companies beat their earnings-per-share (EPS) estimates.



Engelbart emphasizes that this is an above-average figure and adds that the magnitude of these beats was also significant, with companies exceeding their EPS estimates by more than 8% on average.



Engelbart states that earnings drive stock prices over the long term, and the Carson Investment Research analysis points to last quarter&#8217;s powerful performance as a prime example.



Their report shows that overall S&amp;P 500 earnings jumped more than 11%, marking the third consecutive quarter of double-digit earnings growth. While the Mag 7 made a large contribution, the analysis emphasizes that the median stock in the index posted a very healthy 8% year-over-year earnings growth.



Finally, Engelbart concludes his analysis by pointing to a key trend for investors: the market is becoming increasingly favorable for active management.



He explains that with the average correlation between individual stocks near historic lows and stock dispersion on the rise, the current environment creates ample opportunity for skilled stock pickers to find winning companies beyond the biggest names.



See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How to Trade Futures </a>



<h2 class="wp-block-heading">Upcoming Economic Data</h2>



Here's what investors will be keeping an eye on Thursday;



<ul class="wp-block-list">
<li>-Initial jobless claims rose to 235,000 in the week ending Aug. 14, up from the previous 224,000 claims last week and much above the 226,000 consensus forecast.</li>



<li>-The August 2025 Philadelphia Fed Manufacturing Business Outlook Survey&#8217;s diffusion index revealed that current general activity declined from 15.9 to -0.3 in August, mostly undoing its rise from last month.</li>



<li>-August&#8217;s S&amp;P flash U.S. services PMI and S&amp;P flash U.S. manufacturing PMI will be out by 9:45 a.m. ET.</li>



<li>-July&#8217;s existing home sales and U.S. leading economic indicators will also be released by 10:00 a.m. ET.</li>



<li>-The three-day annual Jackson Hole Symposium will also commence on Thursday, Aug. 21, in Wyoming.</li>
</ul>



<h2 class="wp-block-heading">Stocks In Focus</h2>



<ul class="wp-block-list">
<li>Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) was down 0.92% in premarket on Thursday as it is expected to report earnings before the opening bell. Analysts estimate earnings of 74 cents per share on revenue of $176.16 billion.</li>
</ul>



<ul class="wp-block-list">
<li>Intuit Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTU#NASDAQ">INTU</a>) was 0.021% below the flatline as analysts expect it to report earnings of $2.66 per share on revenue of $3.75 billion after the markets close.</li>
</ul>



<ul class="wp-block-list">
<li>Ross Stores Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROST#NASDAQ">ROST</a>) was 0.096% above the flatline as it is expected to report earnings after the closing bell. Analysts estimate earnings of $1.53 per share on revenue of $5.57 billion.</li>
</ul>



<ul class="wp-block-list">
<li>Coty Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COTY#NYSE">COTY</a>) dropped 22.43% after it posted mixed fourth-quarter fiscal results after the closing bell on Wednesday. The global beauty company reported adjusted loss of 5 cents per share for the quarter, missing analyst expectations for positive earnings of 2 cents per share.</li>
</ul>



<ul class="wp-block-list">
<li>Nordson Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDSN#NASDAQ">NDSN</a>) rose 5.40% after reporting better-than-expected third-quarter results. The precision dispensing equipment manufacturer reported third-quarter revenue of $741.51 million, beating analyst estimates of $722.57 million</li>
</ul>



<ul class="wp-block-list">
<li>Tharimmune Inc. (ASDAQ: THAR) surged 47.08% following positive pharmacokinetic simulation results for its lead drug candidate TH104, designed to prevent respiratory depression from fentanyl exposure.</li>
</ul>



<ul class="wp-block-list">
<li>Hewlett Packard Enterprise Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) rose 3.09% following OpenText&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OTEX#NASDAQ">OTEX</a>) participation in the HPE Unleash AI partner program, expanding its collaboration with HPE to accelerate enterprise AI adoption.</li>
</ul>



<h2 class="wp-block-heading">Commodities, Gold, And Global Equity Markets</h2>



Crude oil futures were trading higher in the early New York session by 1.00% to hover around $63.34 per barrel.



Gold Spot US Dollar fell 0.25% to hover around $3,339.96 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was 0.01% lower at the 98.2060 level.



Asian markets ended higher on Wednesday, except Hong Kong's Hang Seng and Japan's Nikkei 225 indices. India&#8217;s S&amp;P BSE Sensex, South Korea's Kospi, China&#8217;s CSI 300, and Australia's ASX 200 indices rose. European markets were lower in early trade.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/08/47251891/pltr-stock-has-declined-over-15-in-past-5-sessions-but-this-tech-bull-says-palantir-remains-favorite">PLTR Stock Has Declined Over 15% In Past 5 Sessions, But This Tech Bull Says Palantir Remains &#8216;Favorite&#8217; </a></li>
</ul>



Photo: emin kuliyev/Shutterstock

Federal Reserve

COTY

INTU

NDSN

OTEX

PLTR

ROST

THAR

Stock Market Today: Dow, S&P 500 Futures Tumble As Jobless Claims Increase— Walmart, Intuit, Ross Stores Earnings In Focus (UPDATED)

Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) has implemented a hiring freeze in its artificial intelligence division following months of aggressive recruitment that included <a href="https://www.benzinga.com/markets/tech/25/07/46623904/mark-zuckerbergs-mafioso-poaching-style-at-meta-sparks-ai-talent-war-sam-altman-says-bring-it-on">nine-figure compensation packages</a>.



<h2 class="wp-block-heading">Hiring Moratorium Follows Talent War Spending</h2>



The freeze, effective last week, prohibits external hires and internal team transfers within the AI division, The Wall Street Journal <a href="https://www.wsj.com/tech/ai/meta-ai-hiring-freeze-fda6b3c4?mod=hp_lead_pos1">reported</a>, citing sources. Meta hired over 50 researchers and engineers from competitors, including OpenAI, Alphabet Inc. (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>) and Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), offering compensation packages reaching $100 million.



CEO Mark Zuckerberg personally recruited talent through direct outreach, including a $1.5 billion offer to Thinking Machines Lab co-founder Andrew Tulloch, who declined. The company secured Scale AI co-founder Alexandr Wang as chief AI officer <a href="https://www.benzinga.com/markets/tech/25/06/45919069/meta-invests-in-scale-ai-at-29-billion-valuation-taps-ceo-alexandr-wang-to-drive-internal-ai-push-as-part-of-deepening-partnership">through a $14 billion stake purchase</a>.



<h2 class="wp-block-heading">Investor Concerns Drive Strategic Pause</h2>



Morgan Stanley analysts warned that escalating stock-based compensation could threaten shareholder returns through reduced buyback capacity. The cautionary stance contributed to recent technology stock selloffs as investors scrutinize AI infrastructure spending across major tech firms.



A Meta spokesperson, according to WSJ, characterized the freeze as &#8220;basic organizational planning&#8221; following the restructuring of its Superintelligence Labs into four specialized teams.



See Also: <a href="https://www.benzinga.com/news/politics/25/08/47244480/federal-reserve-outlook-interest-rates-july-meeting-minutes-markets">Fed Just Poured Cold Water On Rate Cut Hopes–And Tariffs Are To Blame</a>



<h2 class="wp-block-heading">Restructuring Creates Focused AI Teams</h2>



Meta&#8217;s <a href="https://www.benzinga.com/markets/tech/25/08/47180898/mark-zuckerberg-reportedly-plans-fourth-ai-restructuring-in-six-months-amid-silicon-valleys-ai-talent-war">reorganization established four divisions</a>: TBD Lab for superintelligence research, AI products development, infrastructure, and Fundamental AI Research for exploratory projects. The previous AGI Foundations team was dissolved after disappointing Llama model performance.



The hiring freeze includes exceptions requiring Wang&#8217;s approval, though the duration remains undisclosed. At least three former AGI Foundations members announced departures following Meta&#8217;s August 15 vesting date, according to internal communications reviewed by WSJ.



With approximately 2,000 researchers <a href="https://www.benzinga.com/markets/tech/25/07/46623904/mark-zuckerbergs-mafioso-poaching-style-at-meta-sparks-ai-talent-war-sam-altman-says-bring-it-on">globally capable of foundational AI model development</a>, competition for talent remains fierce as companies pursue artificial general intelligence amid $250 billion industry infrastructure investments through 2026.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/08/47247077/palantir-applovin-robinhood-or-coinbase-benzinga-readers-pick-their-top-jim-cramer-parc-stock">Palantir, AppLovin, Robinhood or Coinbase? Benzinga Readers Pick Their Top Jim Cramer &#8216;PARC&#8217; Stock</a></li>
</ul>



Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



Photo courtesy: Frederic Legrand &#8211; COMEO / Shutterstock.com

Tech

$META

AAPL

GOOG

GOOGL

Mark Zuckerberg Halts AI Hiring After Million-Dollar Talent Poaching Sparks Investor Backlash Amid Meta's 'Superintelligence Efforts:' Report

On Wednesday, a federal judge ordered Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk to face a lawsuit accusing him of running an illegal <a href="https://www.benzinga.com/general/politics/24/11/41819016/elon-musks-1-million-swing-state-giveaway-faces-lawsuit-from-michigan-voter-expert-says-federal-">$1 million-a-day election giveaway</a> during the 2024 presidential campaign.



<h2 class="wp-block-heading">Musk Faces Plausible Claims of Misleading Voters With Fake Lottery Scheme</h2>



U.S. District Judge Robert Pitman in Austin, Texas, ruled that plaintiff Jacqueline McAferty plausibly alleged Musk and his political action committee, America PAC, misled voters into believing they were entering a legitimate lottery, reported Reuters.



McAferty, an Arizona voter, claimed Musk induced people in seven battleground states to sign a petition supporting the U.S. Constitution with promises of million-dollar prizes.



She said participants were required to hand over names, addresses, emails and phone numbers, but had no real chance of winning.



In his defense, Musk argued that the payouts were not "prizes" but payments to individuals "selected to earn" money as PAC spokespeople.



Judge Pitman, however, cited Musk's own statements suggesting <a href="https://www.benzinga.com/news/24/11/41734021/elon-musks-1m-a-day-voter-sweeepstakes-gets-green-light-to-run-through-election-day-lawyer-reveals-r">money could be "won,"</a> writing: "It is plausible that plaintiff justifiably relied on those statements to believe that defendants were objectively offering her the chance to enter a random lottery&#8211;even if that is not what they subjectively intended to do."



See Also:&nbsp;<a href="https://www.benzinga.com/markets/tech/25/08/46885469/amd-ceo-lisa-su-says-china-strategy-rebounding-as-mi308-ai-chips-await-us-license-better-position-than-we-were-ninety-days-ago" target="_blank" rel="noreferrer noopener">AMD CEO Lisa Su Says China Strategy Rebounding As MI308 AI Chips Await US License: ‘Better Position Than We Were Ninety Days Ago'</a>



<h2 class="wp-block-heading">Data Collection And Election Integrity</h2>



The court also rejected Musk's claim that voters were not harmed by providing contact details. Pitman noted that an expert in political data brokerage could testify to the monetary value of voter information, particularly in swing states.



<h2 class="wp-block-heading">Musk's Political Plans Shift</h2>



The ruling comes as Musk has reportedly <a href="https://www.benzinga.com/news/politics/25/08/47227590/elon-musk-shelves-america-party-plans-to-protect-ties-with-maga-movement-report">shelved plans to launch</a> a new "America Party." As per reports, Musk decided to step back from third-party ambitions to <a href="https://www.benzinga.com/news/politics/25/08/47112865/elon-musk-maga-reunion-on-the-cards-jd-vance-says-they-would-let-tesla-ceo-back-in">avoid alienating</a> Republicans, particularly Vice President JD Vance, a potential successor to the MAGA movement.



While Musk had floated forming the party in July, sources say he is now focused on his companies, though he may revisit the idea before the midterms. President Donald Trump has previously defended Musk, <a href="https://www.benzinga.com/markets/tech/25/08/46953333/trump-calls-elon-musk-a-good-person-amid-backlash-over-the-tesla-ceos-politics">calling him a "good person"</a> and Vance has said he hopes Musk re-engages with the Republican camp.



<h2 class="wp-block-heading">Trump&#8217;s EV Tax Credit Rollback Threatens Tesla</h2>



Tesla may face new challenges as Trump rolls back the $7,500 federal electric vehicle tax credit and eases <a href="https://www.benzinga.com/markets/tech/25/07/46258669/tesla-made-2-76-billion-from-zev-credits-in-2024-in-us-but-trumps-tax-bill-just-killed-this-revenue-stream">Corporate Average Fuel Economy standards</a> — changes that could further pressure the company amid declining global sales.



In a contrasting move, Trump signed an executive order to <a href="https://www.benzinga.com/news/space/25/08/47113604/trump-eases-space-regulations-in-boost-for-elon-musks-spacex-jeff-bezos-blue-origin-and-more">loosen space industry regulations</a>, a decision that could provide a boost to Musk&#8217;s aerospace venture, SpaceX.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/08/46879633/lisa-su-says-amds-ai-chip-mi355-taking-on-nvidias-b200-gb200-head-on-as-ai-customers-seek-scalable-gpu-alternatives" target="_blank" rel="noreferrer noopener">Lisa Su Says AMD&#8217;s AI Chip MI355 Taking On Nvidia&#8217;s B200, GB200 Head-On As AI Customers Seek Scalable GPU Alternatives</a></li>
</ul>



Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



Photo courtesy: Shutterstock

Politics

Legal

TSLA

Elon Musk Must Face Lawsuit Over Alleged $1 Million Election Lottery As Judge Cites Voter Fraud Claims, Data Harvesting Concerns

The CNN Money Fear and Greed index showed a decline in the overall market sentiment, while the index remained in the &#8220;Greed&#8221; zone on Wednesday.



U.S. stocks settled mostly lower on Wednesday, with the Nasdaq Composite falling more than 100 points during the session.



The Federal Reserve indicated that inflation risks remain &#8220;considerable&#8221; due to the uncertain impact of new trade tariffs, casting fresh doubt over imminent interest rate cuts, according to the July Federal Open Market Committee minutes released Wednesday.



President Trump called for the resignation of Democratic-appointed Fed Governor Lisa Cook. U.S. Federal Housing Finance Agency director William Pulte alleged in a letter to Attorney General Pam Bondi that Cook "potentially" committed mortgage fraud.



Traders are currently pricing in an 85% chance of a 25-basis-point cut next month.



Shares of Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) — a poster child of the AI-driven rally — fell another 1% on Wednesday, paring steeper early losses. The drop followed Tuesday&#8217;s 9.4% plunge, marking the stock&#8217;s worst two-day slump since April.



Lowe&#8217;s Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) reported better-than-expected earnings for the second quarter. Target Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) shares fell around 6% on Wednesday following the release of second-quarter results.



On the economic data front, the volume of mortgage applications in the U.S. fell by 1.4% from the previous week in the second week of August.



Most sectors on the S&amp;P 500 closed on a positive note, with energy, health care and consumer staples stocks recording the biggest gains on Wednesday. However, information technology and consumer discretionary stocks bucked the overall market trend, closing the session lower.



The Dow Jones closed higher by around 16 points to 44,938.31 on Wednesday. The S&amp;P 500 fell 0.24% to 6,395.78, while the Nasdaq Composite dipped 0.67% at 21,172.86 during Wednesday's session.



Investors are awaiting earnings results from Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>), Intuit Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTU#NASDAQ">INTU</a>) and Ross Stores Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROST#NASDAQ">ROST</a>) today.



What is CNN Business Fear &amp; Greed Index?



At a current reading of 56.0, the index remained in the &#8220;Greed&#8221; zone on Wednesday, versus a prior reading of 59.7.



The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/short-ideas/25/08/47216393/top-2-financial-stocks-you-may-want-to-dump-in-q3">Top 2 Financial Stocks You May Want To Dump In Q3</a></li>
</ul>



Photo via Shutterstock

Long Ideas

Pre-Market Outlook

S&P 500 Declines For 4th Session: Investor Sentiment Falls Further, But Fear Index Remains In 'Greed' Zone

Brian Armstrong, CEO of Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), predicted Wednesday that&nbsp;Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) could hit $1 million by&nbsp;2030, citing growing regulatory clarity in the U.S.



<h2 class="wp-block-heading">Why Armstrong Thinks BTC Will Hit $1 Million</h2>



During an interview with Stripe co-founder John Collison, Armstrong was asked about Bitcoin&#8217;s 10-year growth projection.



&#8220;The rough idea I have&nbsp;in my head is, we&#8217;ll&nbsp;see a million-dollar Bitcoin&nbsp;by 2030, and there&#8217;s&nbsp;high error bars around these&nbsp;things,&#8221; he responded. 



<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">I think we&#39;ll see $1M per bitcoin by 2030. Regulatory clarity is finally emerging, the US government is keeping a BTC reserve, there&#39;s a growing interest for crypto ETFs, among many other factors. (Not financial advice of course, it&#39;s impossible to guarantee) <a href="https://t.co/w5EfcYFvVp">pic.twitter.com/w5EfcYFvVp</a>&mdash; Brian Armstrong (@brian_armstrong) <a href="https://twitter.com/brian_armstrong/status/1958259831577731159?ref_src=twsrc%5Etfw">August 20, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The cryptocurrency mogul attributed his optimism to <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47200772/scott-bessent-says-genius-act-essential-to-secure-us-leadership-in-digital-assets-says-it-will-boost-dollar-access-for-billions">increased regulatory clarity</a> in the U.S., which he labeled as a &#8220;bellwether&#8221; for the rest of the<a href="https://www.benzinga.com/topic/g20"> G20 nations</a>.



&#8220;You have the GENIUS Act passed for stablecoins, but this market structure bill is being debated in the Senate. Fingers crossed something could happen by the end of this year,&#8221; Armstrong said. 



He also mentioned the significance of a <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47146275/cynthia-lummis-backs-scott-bessents-commitment-to-build-bitcoin-reserve-without-burdening-us-taxpayers-i-have-a-bill-for-that">Strategic Bitcoin Reserve</a>, stating, &#8220;If they do that, which there&#8217;s now an executive order to do, a bunch of other countries are going to do that.&#8221;



See Also:&nbsp;<a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47234065/buckle-up-dollar-bulls-china-is-reportedly-considering-its-own-yuan-linked-stablecoins">Buckle Up Dollar Bulls, China Is Reportedly Considering Its Own Yuan-Linked Stablecoins</a>



<h2 class="wp-block-heading">Armstrong Sees BTC Becoming The World&#8217;s Reserve Currency</h2>



Armstrong has been a strong advocate of Bitcoin and believes it could become&nbsp;<a href="https://www.benzinga.com/topic/bitcoin" target="_blank" rel="noreferrer noopener">the world&#8217;s new reserve currency</a>, pointing to mounting global deficits and rising economic uncertainty as catalysts for a shift away from fiat systems.



His forecast comes after&nbsp;Anthony Scaramucci, founder and CEO of SkyBridge Capital, maintained a year-end Bitcoin target <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47225565/anthony-scaramucci-maintains-year-end-bitcoin-target-between-180000-200000-says-he-owns-a-lot-of-btc">between $180,000-$200,000</a>. 



Meanwhile,&nbsp;Bill Miller IV, chairman and CIO of Miller Value Partners, suggested that <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47243866/bitcoin-could-go-to-175000-thanks-to-global-retirement-accounts-could-drive-says-bill-miller-iv">Bitcoin could reach $175,000</a> due to potential investments from global retirement accounts.



Price Action:&nbsp; At the time of writing, BTC was exchanging hands at $114,002, up 0.43% in the last 24 hours, according to&nbsp;<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>. Year-to-date, the coin has gained nearly 22%.



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47228525/ex-imf-economist-kenneth-rogoff-explains-why-his-bitcoin-crash-call-fell-flat-blames-everyone-but-himself-for-missing-it-says-anthony-pompliano">Ex-IMF Economist Kenneth Rogoff Explains Why His Bitcoin Crash Call Fell Flat— Blames Everyone But Himself For Missing It, Says Anthony Pompliano</a></li>
</ul>



Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>



Photo courtesy: Shutterstock

COIN

Coinbase CEO Brian Armstrong Forecasts A Million-Dollar Bitcoin By 2030 Amid 'Emerging' Regulatory Clarity In US

The Federal Reserve indicated that inflation risks remain "considerable" due to the uncertain impact <a href="https://www.benzinga.com/topic/tariffs">of new trade tariffs</a>, casting fresh doubt over imminent interest rate cuts, according to the July Federal Open Market Committee minutes released Wednesday.



<ul class="wp-block-list">
<li>SLV ETF is moving fast. <a href="https://www.benzinga.com/quote/SLV">Check live prices here. </a></li>
</ul>



Despite signs of a labor market slowdown, a majority of Fed officials voted to keep the federal funds rate unchanged at 4.25%-4.50%, citing concerns that "tariff effects were becoming more apparent in the data," particularly in goods inflation, while services inflation continued to ease.



<h2 class="wp-block-heading">Two Dissenters Pushed For A Cut</h2>



For the first time since 1993, the Fed saw two dissenters — Governors Michelle Bowman and Christopher Waller — voting in favor of a 25 basis-point cut.



"These members judged that, excluding tariff effects, inflation was running close to the Committee's 2 percent objective," the minutes said. 



They also believed that "higher tariffs were unlikely to have persistent effects on inflation," and voiced concern about "a weakening of labor market conditions," citing slower private payroll gains and hiring concentrated in a limited number of sectors.



Still, the prevailing view in the room leaned more hawkish.



See Also: <a href="https://www.benzinga.com/markets/equities/25/08/47148402/trumps-tariffs-cost-deere-600-million-as-it-reduces-inventories-management-says-focusing-on-what-we-can-control">Trump&#8217;s Tariffs Cost Deere $600 Million As It Reduces Inventories—Management Says Focusing On &#8216;What We Can Control&#8217;</a>



<h2 class="wp-block-heading">Tariff Pressures Front and Center</h2>



Fed officials acknowledged growing evidence that tariffs are fueling inflation. 



The minutes highlighted that "foreign exporters were paying at most a modest part of the increased tariffs," implying that domestic businesses and consumers are shouldering the <a href="https://www.benzinga.com/markets/macro-economic-events/25/08/47033922/trump-tariffs-inflation-estimates-outlook">bulk of the costs</a>.



Many members now expect that businesses "would increasingly have to pass through tariff costs to end-customers over time." 



While some noted the full impact may take time to filter into consumer prices, others stressed it wouldn't be appropriate to "wait for complete clarity" before adjusting policy.



In terms of inflation expectations, participants also raised the risk of them becoming "unanchored" if price pressures further increase, adding another layer of uncertainty to the policy outlook.



<h2 class="wp-block-heading">Labor Market Still Solid — But Cracks Are Emerging</h2>



The Fed observed that the unemployment rate remains low, "at or near estimates of maximum employment," supported by stable hiring and layoff trends. However, several participants noted that businesses remain cautious about adding or cutting jobs amid ongoing economic uncertainty.



Downside employment risks also included the growing adoption of artificial intelligence, which may lower employment, and tighter financial conditions that could impact housing and broader economic activity.



While the Fed acknowledged uncertainty in fiscal and tariff policy had moderately declined, the overall economic outlook remains foggy, requiring the central bank to balance its dual mandate carefully.



Notably, most members continue to view upside inflation risk as more pressing than employment risk. 



<h3 class="wp-block-heading">Markets Shrug Off Minutes, Wall Street Slips</h3>



U.S. equity markets failed to find relief after the release. 



As of 2:30 p.m. ET, the S&amp;P 500 was down 0.6% at 6,375 point, and the Nasdaq 100 dropped 1%, dragged by continued weakness in AI-linked stocks. 



Palantir Technology Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) fell nearly 3%, compounding a 9.4% loss from Tuesday.



The Dow Jones Industrial Average ticked down 0.1%, while the Russell 2000 lost 0.8%. 



In the bond market, the 30-year Treasury yield edged up 2 basis points to 4.90%, and the U.S. dollar index remained stable near 98.1 levels.



Commodities held firm, with spot gold gaining 0.9% to $3,345 per ounce, while silver rebounded 1.2% after Tuesday&#8217;s drop.



Market expectations for a September rate cut softened. Futures now price in an 82% chance of a 25 basis-point cut, down from 85% before the minutes were published, showing that while a cut is still likely, confidence has been dented.



Markets now await remarks from Fed Chair Jerome Powell on Thursday at the central bank's annual symposium in Jackson Hole, Wyoming, where investors hope for clearer guidance on the path of interest rates.



Now Read:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/economic-data/25/08/47120725/us-july-producer-inflation-trump-tariffs">Producer Inflation Explodes In July As Trump Tariffs Feed Through</a></li>
</ul>



Photo: Jack Gruber / USA TODAY NETWORK via Imagn Images

Fed Just Poured Cold Water On Rate Cut Hopes–And Tariffs Are To Blame

<a href="https://www.benzinga.com/topic/jim-cramer">CNBC host Jim Cramer</a> is widely recognized for his contributions to financial media, including coining stock acronyms like the famous FAANG term for high-growth technology stocks in 2013. 



Benzinga readers were invited to pick their favorite stock from Cramer's newest stock acronym.



What Happened: Credited with helping make the "FANG" acronym famous and creating the updated "FAANG" acronym, Cramer <a href="https://www.benzinga.com/markets/tech/25/07/46240154/not-fang-not-magnificent-seven-just-m-n-ms-jim-cramer-floats-new-tech-acronym-for-these-stocks-that-outpaced-peers">recently shared the new</a> "PARC" acronym with his followers, highlighting four "meme stocks."



The new acronym breaks down as follows:



<ul class="wp-block-list">
<li>P – Palantir Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>)</li>



<li>A – AppLovin Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>)</li>



<li>R – Robinhood Markets (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>)</li>



<li>C – Coinbase Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>)</li>
</ul>



"A new acronym for the meme stocks that just won't quit!!! PARC!," Cramer tweeted.



Cramer asked his followers if they preferred the "PARC" or "CARP" acronym better, which prompted some calling out the high valuations of the stocks and labeling them as "CRAP."



Benzinga recently polled readers to see which of the four stocks they prefer.



"Which stock from Jim Cramer's new ‘PARC' acronym would you be most likely to hold for the next 12 months?" Benzinga asked.



Here are the results:



<ul class="wp-block-list">
<li>Palantir: 54%</li>



<li>Robinhood: 20%</li>



<li>AppLovin: 17%</li>



<li>Coinbase: 9%</li>
</ul>



Palantir won the poll with a majority of the vote at 54%, a pretty impressive result for there being four choices. Robinhood finished in second with 20%, followed by AppLovin at 17%. Coinbase trailed the other options with 9% of the vote.



Read Also: <a href="https://www.benzinga.com/markets/tech/25/07/46354006/cathie-wood-vs-jim-cramer-tv-host-says-top-ark-ai-pick-losing-money-hand-over-fist">Cathie Wood Vs. Jim Cramer: TV Host Says Top Ark AI Pick &#8216;Losing Money Hand Over Fist&#8217;</a>



Why It's Important: Love him or hate him, Cramer is one of the most followed financial personalities thanks to his daily appearances on CNBC and his daily "Mad Money" show.



An ETF once targeted investing in the opposite of what Cramer recommended, <a href="https://www.benzinga.com/etfs/specialty-etfs/24/01/36793492/exclusive-inverse-cramer-etf-shuts-down-how-the-magnificent-7-stocks-factor-in-and-a-broken-c">but was shut down</a>.



While he's not always right about stocks and cryptocurrencies, Cramer's acronyms have served as barometers of the market.



The popular FAANG, which included Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) and 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>) was often used to highlight high growth names and may have been a precursor to the "Magnificent 7" stocks today with four of the five also now Mag 7 stocks.



Cramer<a href="https://www.benzinga.com/markets/tech/25/07/46407417/jim-cramer-made-faang-popular-now-he-says-theres-a-new-acronym-to-describe-these-retail-favorite-stocks-parc"> proposed years later</a> to replace Netflix with Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and change the acronym to "MAMAA" to reflect the addition and name changes for Meta and Alphabet.



The new acronym could catch on, or it might fade quickly. The four stocks have all proven popular with retail investors. Palantir and AppLovin have also been popular <a href="https://www.benzinga.com/trading-ideas/short-ideas/25/06/45910389/short-seller-says-applovin-is-desperate-and-doomed-shares-slide">with short sellers </a>thanks to high valuations.



Here is the current year-to-date and five-year performance of the four members of "PARC."



<ul class="wp-block-list">
<li>Palantir: +105.8% year-to-date, +1,582.3% five years</li>



<li>AppLovin: +25.7% year-to-date, +567.5% five years</li>



<li>Robinhood: +179.1% year-to-date, +195.9% five years</li>



<li>Coinbase: +21.6% year-to-date, -11.7% five years</li>
</ul>



Three of the four stocks are up over 190% in the last five years, with Coinbase stock down over the same time period.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/07/46419665/cramers-parc-playbook-robinhoods-breakout-potential-outshines-the-meme-stock-pack">Cramer&#8217;s PARC Playbook: Robinhood&#8217;s Breakout Potential Outshines The Meme Stock Pack</a></li>
</ul>



The study was conducted by Benzinga from Aug. 15, 2025, through Aug. 20, 2025. It included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 127 adults.



Image: Shutterstock

Exclusives

AMZN

HOOD

MSFT

NFLX

Palantir, AppLovin, Robinhood or Coinbase? Benzinga Readers Pick Their Top Jim Cramer 'PARC' Stock

I've spent my 30 years in the markets finding invisible patterns that most traders can't see &#8211; let alone trade.&nbsp;



Not the ones you've probably heard of before, like the "head and shoulders" or "cup and handle." Those are textbook patterns, and millions of traders use them every day. By the time you've spotted one, the advantage is already long gone.



The patterns I trade are different. They're hidden. They're built on decades of market data.&nbsp;



And the best part? These patterns are seasonal. They repeat over and over again, year after year, decade after decade (as I'll show you in a moment). And they provide my readers with a roadmap that no one else has. And right now, it's flashing yellow.



<h2 class="wp-block-heading">The Market's Most Actionable Suite of Tools for Investors</h2>



Stay prepared for every market shift with real-time alerts, expert insights, and extensive asset coverage. Now, get FREE access to these powerful tools to analyze stocks, options, futures, and cryptocurrencies like a pro. <a href="http://The Market's Most Actionable Suite of Tools for Investors Stay prepared for every market shift with real-time alerts, expert insights, and extensive asset coverage. Now, get FREE access to these powerful tools to analyze stocks, options, futures, and cryptocurrencies like a pro. Learn more here.">Learn more here</a>.



Why August And September Are The Market's "Danger Zone"



Every trader knows the market has its ups and downs. But not everyone realizes just how predictable those swings can be.



Here's one of the most important lessons I've learned in 30+ years of trading: The market has seasons — just like the calendar hanging on your wall.



And the worst season of all is happening right now.



Look back at the data and you'll see the same story repeat again and again:



<ul class="wp-block-list">
<li>Since 1950, September has been the worst month for the S&amp;P 500, with an average decline of 0.5% to 0.6%.</li>



<li>August isn't far behind. It ranks as one of the weakest months, with volatility spiking as traders return from their summer break.</li>



<li>And when you zoom in on the last decade, the record is even clearer: September was negative in 7 of the previous 10 years. Over that stretch, the S&amp;P 500 lost about 1% on average in September alone.</li>
</ul>



Think about that. For more than 70 years, history has shown us the same thing — August and September are dangerous. And in the last 10 years, that danger has only intensified.



That's why so many investors get blindsided right around now. They hold onto their stocks, hoping the low-volume summer bull from June and July will keep rolling. And then they watch their portfolios sink.



But it doesn't have to be that way. In fact, months like these are the reason I invented the Money Calendar.&nbsp;



<h2 class="wp-block-heading">The Money Calendar Edge</h2>



Here's what separates me from everyone else out there.



The Money Calendar maps out these seasonal patterns based on more than 10 years of data. It color-codes them so you can see the market's bias at a glance:



<ul class="wp-block-list">
<li>Green = bullish. Stocks tend to rally during this window.</li>



<li>Red = bearish. Stocks consistently sell off.</li>



<li>Yellow/Orange = mixed. Proceed with caution.</li>
</ul>



Here's what I'm seeing right now…



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcvAt73---cIMDTotCK_VHHYXTSNaxWF4NHxRDXDCWdX5T35e21FDM9jRBJo6DdTEwrWbiK3HPGZ3ytH1jDNuaCGXYmgjLZUfUVo-AH9rmcsdxSR6YqxXdSdOKooPU5Lx0dAdU5Iw?key=AYp7EjMUmWfsilmdRceCAw" alt=""/></figure>



So instead of guessing what comes next, you're trading with a roadmap that's already been proven, year after year.



And right now, that roadmap is warning us: Prepare for the downside.



That's why I'm hosting a live training session on Wednesday, August 27, at 6 PM ET to walk you through what's happening — and share my trading plan for the toughest months of the year.



This is the most important trading lesson you'll learn in 2025 — and it could be the difference between cashing in or crashing out this fall.



You'll see:



<ul class="wp-block-list">
<li>The seasonal trading system that's already delivered a 58% return in 2025 — six times the S&amp;P 500 </li>



<li>How these patterns repeat with more than 90% accuracy in the market's weakest months </li>



<li>The exact bullish and bearish opportunities I'm targeting this fall — including my next trade idea revealed live on the call.</li>
</ul>



I'll show you how to flip the August through October weakness into one of the strongest profit windows of the year.



<a href="https://events2.benzinga.com/power-pattern-profits-live-aug27-registration/?utm_campaign=082725-webinar&amp;utm_adType=sponsorad&amp;utm_ad=RD082125">Click here to save your free spot now.</a>



And stay tuned. In my next article on Monday, I'm going to show you how I switch up my tactics when the calendar turns.



Editorial content from our expert contributors is intended to be information for the general public and not individualized investment advice. Editors/contributors are presenting their individual opinions and strategies, which are neither expressly nor impliedly approved or endorsed by Benzinga.



Photo: Shutterstock

Why Most Traders Get Crushed This Time Of Year - And How You Can Avoid It

A second day of selling pressure <a href="https://www.benzinga.com/topic/technology-stocks">hit technology stocks</a> tied to the AI theme on Wednesday, as sentiment cooled after an MIT report questioned the broad profitability of the new technology.



<ul class="wp-block-list">
<li>MAGS ETF is moving fast. <a href="https://www.benzinga.com/quote/MAGS">Check live prices here. </a></li>
</ul>



Shares of Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) — a poster child of the AI-driven rally — fell another 4% by midday, paring steeper early losses. The drop followed Tuesday's 9.4% plunge, marking the stock's worst two-day slump since April.



<ul class="wp-block-list">
<li>The Nasdaq 100 slid about 1%, underperforming other major indexes</li>



<li>The S&amp;P 500 eased 0.46%</li>



<li>The Russell 2000 lost 0.56%</li>



<li>The Dow Jones dipped 0.12%</li>
</ul>



Investors now await the release of the Fed's July meeting minutes, due at 2:00 p.m. ET. Last month, Governors Bowman and Waller dissented in favor of a rate cut, opposing the majority who voted to keep rates unchanged.



Meanwhile, President Trump called for the resignation of Democratic-appointed Fed Governor Lisa Cook. U.S. Federal Housing Finance Agency director William Pulte alleged in a letter to Attorney General Pam Bondi that Cook &#8220;potentially&#8221; committed mortgage fraud.



Traders are currently pricing in an 85% chance of a 25-basis-point cut next month.



Commodities rebounded from Tuesday's sharp selloff, with gold, silver, and crude oil each rising about 1%. Cryptocurrencies also found support, with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) up 0.9% after two straight sessions of losses.



<h2 class="wp-block-heading">Wednesday&#8217;s Performance In Major US Indices, ETFs</h2>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Major Indices</td><td>Price</td><td>1-day %</td></tr><tr><td>Dow Jones</td><td>44,906.95</td><td>-0.12%</td></tr><tr><td>S&amp;P 500</td><td>6,386.32</td><td>-0.46%</td></tr><tr><td>Russell 2000</td><td>2,262.90</td><td>-0.56%</td></tr><tr><td>Nasdaq 100</td><td>23,174.78</td><td>-1.00%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 1:00 p.m. ET</figcaption></figure>



According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:



<ul class="wp-block-list">
<li>The&nbsp;Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) eased 0.4% to $585.57.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) paused at $449.29.</li>



<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;dropped 0.9% to $564.81.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.5% to $225.12.</li>



<li>The&nbsp;Energy&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) outperformed, up 0.9%; the&nbsp;Technology&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) lagged, down 1%.</li>
</ul>



<h2 class="wp-block-heading">Stocks On The Move Wednesday</h2>



<ul class="wp-block-list">
<li>Target Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) sank 7% despite topping Wall Street's earnings estimates, as weak sales guidance weighed on shares.</li>



<li>Other earnings movers included Lowe's Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>), up 0.6%; Estee Lauder Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EL#NYSE">EL</a>), down 3.6%; Analog Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADI#NASDAQ">ADI</a>), up 4.8%; Toll Brothers Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>), up 1%; Alcon Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALC#NYSE">ALC</a>), down 9%; and Hertz Global Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTZ#NASDAQ">HTZ</a>), up 5.5%.</li>



<li>After the close, earnings are due from Salesforce Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) and Synopsys Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNPS#NASDAQ">SNPS</a>).</li>
</ul>



Read Also: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/real-estate/25/08/47235961/americas-hottest-new-real-estate-isnt-for-humans-its-for-ai">America&#8217;s Hottest New Real Estate Isn&#8217;t For Humans—It&#8217;s For AI</a></li>
</ul>



Image: Shutterstock

Large Cap

Commodities

SNPS

Palantir, AI Stocks Extend Losses Ahead Fed Minutes: What's Moving Markets Wednesday?

Retailer Walmart Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) could show market gains in both physical retail and its ecommerce business when the company reports second-quarter financial results Thursday <a href="https://www.benzinga.com/earnings">after market close.</a>



Earnings Estimates: Analysts expect Walmart to report second-quarter revenue of $176.16 billion, up from $169.34 in last year's second quarter, according to data <a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0820">from Benzinga Pro.</a>



The company missed analyst estimates for revenue in the first quarter, but have beaten estimates in nine of the last 10 quarters.



Analysts expect Walmart to report second-quarter earnings per share of 74 cents, up from 67 cents per share in last year's second quarter.



The company has beaten analyst estimates for earnings per share in six straight quarters and in nine of the last 10 quarters. The lone non-beat quarter saw the company's earnings per share match estimates.



Guidance <a href="https://www.benzinga.com/news/earnings/25/05/45436534/walmart-doesnt-alter-annual-outlook-yet-ceo-says-all-tariffs-create-cost-pressures-but-china-has-biggest-impact">from the company </a>calls for second-quarter revenue in the range of $173.67 billion to $175.35 billion.



Read Also: <a href="https://www.benzinga.com/markets/earnings/25/08/47182677/retail-investors-top-stocks-with-earnings-this-week-faraday-future-xpeng-walmart-and-more">Retail Investors&#8217; Top Stocks With Earnings This Week: Faraday Future, XPeng, Walmart And More</a>



Key Items to Watch: Walmart's earnings report comes a day after rival retailer Target Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) <a href="https://www.benzinga.com/markets/earnings/25/08/47233293/target-outgoing-ceo-warns-of-short-term-tariff-pressure-stock-sinks">reported quarterly results</a>. Target beat analyst estimates for both earnings per share and revenue, but shares fell on guidance and overall concerns.



Target saw gross margin rates decline and comparable store sales down year-over-year. Operating income and EBITDA also declined in the quarter on a year-over-year basis.



The company reiterated its full-year guidance, acknowledging that tariffs are causing short-term pressure.



Walmart's earnings report could show market share taken from Target if the company shows stronger same-store sales growth and growth in digital sales.



Walmart's global ecommerce sales were up 22% year-over-year in the first quarter, with the company also seeing comparable sales up 4.5% for Walmart U.S. excluding fuel.



Walmart has also acknowledged pressure from tariffs, but its results may show better control or lower impact from the rising costs.



Data <a href="https://www.placer.ai/anchor/articles/what-walmart-and-targets-q2-2025-traffic-reveals-about-future-performance" target="_blank" rel="noopener">from </a>Placer.ai shows that Walmart experienced a 1.0% visit growth in the second calendar quarter, compared to a 2.5% decline in the first calendar quarter.



Walmart saw visits decline by more than 4% year-over-year in both February and March, with growth of 4.3% in March, growth of 0.7% in May and declines of 1.6% in both June and July. The stronger results in recent months come as the retailer pushes for digital sales growth. Walmart's fiscal second quarter includes results from May, June and July.



The results for visits data could suggest that Walmart is growing digital sales without hurting its physical store sales too much.



While Walmart may be taking market share from Target, the <a href="https://www.benzinga.com/markets/large-cap/25/08/47102879/walmart-stock-slides-as-amazons-grocery-delivery-expands">rising competition from </a>Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) could be a cause for concern. Amazon is expanding its same-day delivery for Amazon Fresh and Whole Foods. Walmart could be asked questions about the growing competition from Amazon during the earnings call.



Some analysts have been <a href="https://www.benzinga.com/quote/WMT/analyst-ratings">raising their price targets</a> on Walmart stock ahead of the earnings report.



Price Action: Walmart stock is down 0.9% to $102.22 on Wednesday versus a 52-week trading range of $74.59 to $105.30. Walmart stock is up 13.7% year-to-date in 2025.



Target stock is down 8% on Wednesday after the earnings report. Target stock is down 29.3% year-to-date in 2025.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/dividends/25/08/47230986/how-to-earn-500-a-month-from-walmart-stock-ahead-of-q2-earnings">How To Earn $500 A Month From Walmart Stock Ahead Of Q2 Earnings</a></li>
</ul>



Photo: Shutterstock

Previews

Walmart Q2 Earnings Preview: Can Retailer Take Share From Target & Fight Off Amazon Pressure?

Construction spending on AI data centers from tech giants like Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>). is growing so rapidly that it's set to overtake traditional office buildings, reshaping the <a href="https://www.benzinga.com/real-estate">nation&#8217;s real estate market.</a>



<ul class="wp-block-list">
<li>PLTR stock is moving fast.<a href="https://www.benzinga.com/quote/PLTR"> Check live prices. </a></li>
</ul>



In 2022, office construction was five times larger than data center investment. Fast-forward to today, and the gap is closing fast.



<h2 class="wp-block-heading">How Big Is the Data Center Construction Surge?</h2>



According to Goldman Sachs&#8217; economist Dominic Wilson, &#8220;construction on data centers is poised to surpass general office construction, having been only 20% as large as offices less than three years ago"



Data center investment in the U.S. is now running at about $28 billion annually. That number has grown at a compound annual growth rate of roughly 35% since 2012 and already accounts for 36% of all spending in the office construction category.



Wilson highlighted that the scale of AI capex is starting to show a clear macroeconomic impact this year.



<h2 class="wp-block-heading">Tech Giants Are All In on AI Infrastructure</h2>



The world's largest tech companies are pouring money into AI-related capital expenditures. 



Goldman Sachs' latest estimates show that overall spending from major hyperscalers—such as Microsoft Corp., Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Amazon.com Inc., and Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)—will rise to $348 billion in 2025 and then to $431 billion in 2026. 



That's an upward revision of 11% and 18%, respectively, from previous forecasts.



<ul class="wp-block-list">
<li>Alphabet raised its 2025 capex target to $85 billion, citing an acceleration in data center builds.</li>



<li>Microsoft expects to spend over $30 billion in just the first quarter of fiscal 2026.</li>



<li>Amazon reiterated that the bulk of its investment is going toward AI infrastructure to support AWS, its cloud platform.</li>



<li>Meta increased the lower end of its 2025 capex by $2 billion and expects similar growth in 2026.</li>
</ul>



In short, no one is tapping the brakes.



<h2 class="wp-block-heading">Which Stocks Could Benefit?</h2>



Goldman Sachs remains bullish on two major data center real estate investment trusts: Digital Realty Trust Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DLR#NYSE">DLR</a>) and Equinix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EQIX#NASDAQ">EQIX</a>).



In the latest quarterly earnings report, Digital Realty Trust Inc. reported strong leasing momentum, with prices rising 14% in its high-power (greater than 1 megawatt) category. Goldman holds a $205 price target on the stock, implying a 22% upside from current levels.



Equinix Inc. also posted solid demand commentary and is aiming for long-term double-digit revenue growth through 2030. Goldman's target price for Equinix is $880, or 13% higher than the current share price, supported by continued strong cloud and AI demand.



Read now: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/short-ideas/25/08/47215431/qqq-put-options-stock-market-crash">Wall Street Braces For Tech Carnage: &#8216;Disaster&#8217; QQQ Options Tell The Story </a></li>
</ul>



Image: Shutterstock

EQIX

America's Hottest New Real Estate Isn't For Humans—It's For AI

Palantir Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) shares are trading lower Wednesday as the stock continues to pull back following a strong run in recent weeks. Here&#8217;s what you <a href="https://www.benzinga.com/markets/equities/25/08/47228944/palantir-continues-to-decline-in-pre-market-as-valuation-concerns-mount-citron-research-targets-overvaluation">need to know</a>.



What To Know: Palantir shares surged to new all-time highs earlier this month after the company beat analyst estimates on the top and bottom lines for the eighth straight quarter, reporting second-quarter revenue of $1.004 billion versus <a href="http://benzinga.com/quote/PLTR/earnings" target="_blank" rel="noreferrer noopener">estimates</a>&nbsp;of $939.71 million, and adjusted earnings per share of 16 cents versus estimates of 14 cents.



Revenue was up 48% year-over-year as U.S. Commercial revenue jumped 93% year-over-year and U.S. Government revenue increased 53% year-over-year.



Palantir guided for third-quarter revenue of $1.083 billion to $1.087 billion versus estimates of $981.1 million. The company also raised its full-year guidance to a range of&nbsp;$4.14 billion to $4.15 billion versus estimates of $3.9 billion.



After riding a wave of momentum to approximately $190, shares have faced selling pressure in recent trading sessions. Citron&#8217;s Andrew Left announced a <a href="https://www.benzinga.com/trading-ideas/short-ideas/25/08/47107749/gamestop-short-seller-andrew-left-is-taking-on-retail-investors-again-now-says-palantir-stock-is-beyond-overvalued">short position</a> against Palantir last week, suggesting that the stock had become &#8220;beyond overvalued.&#8221;



In a research report published earlier this week, Citron argued that Palantir should be trading at $40 when comparing the company to OpenAI. 



&#8220;It should be noted that even at a 17x sales multiple, OpenAI has the highest multiple of any scaled SaaS stock in the world, and that number in itself is extreme. This means that at $40, PLTR would still be expensive,&#8221; Left wrote in the report. 



The recent volatility in Palantir shares has captured the attention of retail traders and investors. The recent price movement indicates selling pressure as the stock approaches critical support levels. 



Palantir&#8217;s short interest has <a href="https://www.benzinga.com/trading-ideas/short-ideas/25/08/47220903/wall-street-vs-zuckerberg-meta-shorts-dwarf-microsoft-and-palantir-combined">increased by</a> $2.8 billion this year. Short interest currently sits at 2.54%, according to data from <a href="http://pro.benzinga.com">Benzinga Pro</a>. The stock finds support at $150.00, a level that has previously held firm, while resistance is identified at $157.75, where selling pressure has emerged. A breach below $150.00 could pave the way for further declines, whereas a move above $157.75 might signal a bullish reversal.



The Relative Strength Index (RSI) stands at 38.50, suggesting the stock is nearing oversold conditions, which could prompt a rebound if buying interest resurfaces. Meanwhile, the Moving Average Convergence Divergence (MACD) reveals a bearish crossover, with the signal line at 1.25 and the MACD line at 0.85, reinforcing the current downtrend.



Market structure analysis shows a pattern of lower highs and lower lows, confirming a short-term bearish trend. Analyst ratings reflect a neutral sentiment. Recent analyst changes include an upgrade from Sell to Hold from Deutsche Bank, an Overweight rating and price target of $182 from Piper Sandler and Neutral ratings and price targets ranging from $155 to $165 from Cantor Fitzgerald and UBS. Wedbush has a Street-high price target of $200 on Palantir shares.



Benzinga Edge rankings show mixed measures for Palantir, with a low Value ranking of 2.69/100, but a high Growth ranking of 95.06/100 and a strong Momentum ranking of 98.62/100. 



PLTR Price Action: <a href="http://benzinga.com/quote/PLTR">Palantir shares</a> were down 9.6% at $142.55 at the time of publication on Wednesday, according to <a href="https://pro.benzinga.com">Benzinga Pro</a>. The stock is now down about 15% over the past week.



Read Next:



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<li><a href="https://www.benzinga.com/markets/equities/25/08/47227399/palantir-amd-oracle-and-nvidia-decline-after-hours-heres-what-you-should-know">Palantir, AMD, Oracle And Nvidia Decline After-Hours: Here&#8217;s What You Should Know</a></li>
</ul>



Photo: Shutterstock.

Palantir Stock Is Facing Selling Pressure: What's Going On?

Cryptocurrency markets are trading lower on Wednesday as continued profit-taking weighs on the market&#8217;s short-term prospects.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Ticker</td><td>Price</td></tr><tr><td>Bitcoin</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>$113,717.56</td></tr><tr><td>Ethereum</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>$4,218.23</td></tr><tr><td>Solana</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td><td>$180.96</td></tr><tr><td>XRP</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td><td>$2.90</td></tr><tr><td>Dogecoin</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>$0.2149</td></tr><tr><td>Shiba Inu</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>$0.00001234</td></tr></tbody></table></figure>



Notable Statistics:



<ul class="wp-block-list">
<li>Coinglass data shows 120,149 traders were liquidated in the past 24 hours for $440.29 million.      </li>



<li>SoSoValue data shows net outflows of $523.3 million from spot Bitcoin ETFs on Wednesday. Spot Ethereum ETFs saw net outflows of $422.3 million.&nbsp; </li>
</ul>



Trader Notes: Willy Woo <a href="https://x.com/woonomic/status/1958098672928866423">said</a> Bitcoin's spike to $124,500 before sliding to $112,500 was a liquidation-driven shakeout. With the MCR Risk Signal declining, liquidity is returning, setting BTC up for another leg higher. 



Crypto trader Jelle noted that after 18 hours, Bitcoin has cleared most liquidity pockets with the August low intact. He sees reclaiming $118,000 as the next key step.



<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">18 hours later, and <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> has taken out all but one of the liquidity areas. August low still intact. Objective remains a reclaim of $118k &#8211; until then, not spending too much time staring at the charts. <a href="https://t.co/kdCu0QW3vz">https://t.co/kdCu0QW3vz</a> <a href="https://t.co/bgK4ZE77oW">pic.twitter.com/bgK4ZE77oW</a>&mdash; Jelle (@CryptoJelleNL) <a href="https://twitter.com/CryptoJelleNL/status/1958100255070699970?ref_src=twsrc%5Etfw">August 20, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Michael van de Poppe <a href="https://x.com/CryptoMichNL/status/1958102709485318529">highlighted</a> Ethereum sitting in a prime dip-buying zone, expecting a 10% bounce as volatility cools and accumulation begins.



Altcoin Sherpa <a href="https://x.com/AltcoinSherpa/status/1957985943853650290">said</a> Solana has reached his accumulation zone and he plans to dollar-cost average gradually.



Crypto Zeinab <a href="https://x.com/CryptoZeinab/status/1958105779678101820">compared </a>Dogecoin's setup to its 2024 rounding bottom. A breakout above $0.29 could trigger a rally toward $0.80 in Q4 if history repeats.



Crypto chart analyst Ali Martinez noted XRP is flashing a buy signal, ready for a bounce after timing the top.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$XRP</a> looks ready to bounce! After perfectly timing the top, the signal now says BUY. <a href="https://t.co/NBbQuXd7RG">pic.twitter.com/NBbQuXd7RG</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1958112272686973071?ref_src=twsrc%5Etfw">August 20, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47208803/bitcoins-bull-run-isnt-over-without-a-major-external-trigger-economist-argues">Bitcoin&#8217;s Bull Run Isn&#8217;t Over Without A &#8216;Major External Trigger&#8217;, Economist Argues</a></li>
</ul>



Image: Shutterstock

$DOGE

$SHIB

$SOL

Bitcoin Holds $113,000 As Ethereum, XRP, Dogecoin Dip

Target Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) shares are trading lower in the <a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">premarket session on Wednesday</a>.



The company reported second-quarter adjusted earnings per share of $2.05, beating <a target="_blank" href="https://www.benzinga.com/pressreleases/25/08/n47229566/target-corporation-reports-second-quarter-earnings" rel="noreferrer noopener">the analyst consensus estimate of $2.03</a>.



Quarterly sales of $25.21 billion (down 0.9% year over year) outpaced the Street view of $24.93 billion.



Also Read: <a target="_blank" href="http://benzinga.com/analyst-stock-ratings/analyst-color/25/08/47159707/target-trails-walmart-digital-woes-tariffs-take-toll" rel="noreferrer noopener">Target Trails Walmart As Digital Woes, Tariffs Take A Toll</a>



Target announced that its Board has unanimously elected COO Michael Fiddelke as CEO and director, succeeding Brian Cornell, who will transition to<a target="_blank" href="https://www.benzinga.com/pressreleases/25/08/n47229564/target-appoints-michael-fiddelke-as-chief-executive-officer" rel="noreferrer noopener"> executive chair effective Feb. 1, 2026.</a>



Fiddelke recently launched and began leading Target&#8217;s Enterprise Acceleration Office, aimed at simplifying operations, advancing technology, and boosting agility to drive performance and long-term growth.



<h2 class="wp-block-heading">Q2 In Detail</h2>



Target said that the quarterly performance indicated a merchandise sales decrease of 1.2%, which was partially offset by a 14.2% increase in non-merchandise sales.&nbsp;



The second-quarter gross margin rate slipped to 29% from 30% in the year-ago period. The decline was driven by higher markdowns, order cancellation costs, and category mix pressure.



Comparable sales decreased 1.9% in the second quarter, reflecting a comparable store sales decline of 3.2%, partially offset by comparable digital sales growth of 4.3%.&nbsp;



Operating income in the quarter under review was&nbsp;$1.3 billion, 19.4% lower than last year. The second&nbsp;quarter&#8217;s operating income margin rate contracted to 5.2%, compared with 6.4% in the year-ago period.



Quarterly EBITDA slumped 12.2% year over year to $2.104 billion.



Target did not repurchase any shares in the second quarter but ended the period with about $8.4 billion remaining under its board-approved repurchase program from August 2021.



Target exited the quarter with cash and equivalents worth $4.341 billion.



<h2 class="wp-block-heading">Outlook</h2>



Target reaffirmed its fiscal year 2025 adjusted EPS guidance at $7.00–$9.00, compared with <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">the Street estimate of $7.35</a>. Target reiterated its outlook for a low-single-digit decline in fiscal year 2025 sales.



In the earnings conference call, Target&#8217;s outgoing CEO Brian Cornell acknowledged the impact of tariffs on the company&#8217;s financial outlook, stating that this year&#8217;s P&amp;L would reflect some short-term pressure due to these costs.



Price Action: TGT shares are trading lower by 10.92% to $93.85 premarket at last check Wednesday.



Read Next:



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Photo by bluestork via Shutterstock

Management

Target Outgoing CEO Warns Of Short-Term Tariff Pressure, Stock Sinks

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