Dernières nouvelles pour IT Tech Packaging (AMEX:ITP) Stock

IT Tech Packaging

IT Tech Packaging Inc is a holding company engaged in the business of paper manufacturing in China. The company operates as a producer and distributor of paper products. It is involved in the production and distribution of three categories of paper products: packing paper (corrugating medium paper), offset printing paper, and tissue paper products. It also produces digital photo paper. Its business is structured into three segments: Dongfang Paper and Tengsheng Paper, which produce offset printing paper, corrugating medium paper, and tissue paper, and Baoding Shengde, which produces face masks and digital photo paper.

IT Tech Packaging Inc

INTREPID CAPITAL CORP by Intrepid Capital Corp.

Intrepid Capital Corp

Macro Economic Events

News

Econ #s

Economics

BBJP

WisdomTree Trust Japan Total Dividend Fund

Reported Earlier, Japan Current Account n.s.a. For March 3.678T Vs. 3.678T Est.; 4.061T Prior

Reported Earlier, Japan Adjusted Current Account For March 2.72T Vs. 2.42T Est.; 2.91T (Revised) Prior

Bitcoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) pseudonymous creator, Satoshi Nakamoto's estimated fortune has surged sharply, surpassing that of tech billionaire Bill Gates.
What happened: As of this writing, the wallet linked to Satoshi owned about $113.8 billion in Bitcoin, <a href="https://intel.arkm.com/explorer/entity/satoshi-nakamoto">according </a>to blockchain analytics firm Arkham.&nbsp;
Notably, the wealth of Microsoft co-founder Gates was <a href="https://www.forbes.com/real-time-billionaires/#50efce393d78">estimated </a>at $112.9 billion, according to Forbes&#8217; Real-Time Billionaires list. Had Satoshi been ranked here, they would be the 12th-wealthiest person in the world.
It is collectively believed that Satoshi owns roughly 1.1 million Bitcoin, making up 5% of the coin's circulating supply.
Currently, Tesla and SpaceX CEO Elon Musk is ranked first on this super-rich list, with an eye-popping fortune of $395.6 billion. Theoretically, for Satoshi to become the world's wealthiest, Bitcoin's price has to hit $360,000 or above, which is currently an unrealistic expectation.
See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/25/05/45275169/ethereum-stagnant-after-pectra-upgrade-but-analyst-deems-the-overhaul-tailwind-that-could-power-eth-above-2000">Ethereum Flat After Pectra Upgrade, But Analyst Foresees Overhaul &#8216;Tailwind&#8217; That Could Take ETH Above $2,000</a>
Why It Matters: Nakamoto&#8217;s true identity is yet to be revealed and is a subject of intense speculation since the <a href="https://www.benzinga.com/money/who-is-satoshi-nakamoto">inception</a> of Bitcoin in 2009. <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41242615/peter-todd-is-satoshi-nakamoto-bitcoin-core-developer-denies-hbo-documentary-claims-im-not">Various figures</a>, including Bitcoin Core developers Peter Todd, Len Sassaman, and Nick Szabo have been linked to the mysterious personality over the years.
A documentary <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41179372/satoshi-nakamoto-about-to-be-unveiled-bitcoin-creators-identity-focal-point-of-upcoming-hb">titled </a>‘Money Electric: The Bitcoin Mystery" aired last year, <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41242615/peter-todd-is-satoshi-nakamoto-bitcoin-core-developer-denies-hbo-documentary-claims-im-not">claiming that Todd was Satoshi</a>. Todd was quick to deny the claim.
The surge in Satoshi&#8217;s wealth coincided with <a href="https://www.benzinga.com/trading-ideas/movers/25/05/45339289/bitcoin-taps-105000-ethereum-steady-dogecoin-falls-as-us-announces-china-trade-deal-analyst-says-btc-in-for-a-price-discovery-uptrend-if-it-secures-a-weekly-close-above-this-lev">Bitcoin&#8217;s sharp recovery</a> induced by U.S.-China trade deal optimism.
Price Action:&nbsp; At the time of writing, Bitcoin was exchanging hands at $103,987.78, up 0.28% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. Over the last year, the coin has gained over 70%.
Photo Courtesy: Szabolcs Magyar On Shutterstock.com
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45277600/trumps-crypto-policy-like-a-large-buffet-says-anthony-scaramucci-you-have-to-eat-everything-at-the-table">Anthony Scaramucci Compares Trump&#8217;s Crypto Policy To Mar-A-Lago Buffet: &#8216;You Have To Eat Everything At The Table&#8217;</a></li>
</ul>

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

Cryptocurrency

General

$BTC

Bill Gates Left Behind By Satoshi Nakamoto: Bitcoin Creator's Wealth Now Eclipses That Of Microsoft Co-Founder Amid Crypto's Sharp Rebound

In the latest episode of the All-In Podcast, venture capitalist Chamath Palihapitiya and fellow co-hosts reacted to a revelation from Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) executive Eddy Cue stating that the tech giant witnessed a decline in its search volume last month—something that hasn't happened in 20 years.
What Happened: In the podcast, which was recorded on Thursday, Jason Calacanis mentioned Cue's statement, which the Apple executive made during his testimony for Alphabet Inc.'s (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>) Google.
"For the first time ever in over 20 — I think we've been at this for 22 years — last month, our search volume actually went down," Cue testified, citing the growing popularity of ChatGPT and Perplexity AI as emerging alternatives.
The news sent shockwaves through the tech sector. In the five days, Alphabet's class A shares declined by 6.27% while class C shares decreased by 6.24%, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
See Also:&nbsp;<a href="https://www.benzinga.com/25/04/44778760/netflix-debuts-openai-backed-search-engine-that-lets-you-discover-movies-and-tv-shows-based-on-emotions-not-just-titles" target="_blank" rel="noreferrer noopener">Netflix Debuts OpenAI-Backed Search Engine That Lets You Discover Movies And TV Shows Based On Emotions, Not Just Titles</a>
Calacanis then asked Palihapitiya if this is the time to panic. In response, the "SPAC King" called it a moment of reckoning.
He acknowledged that Google's Gemini remains one of the most impressive models in many domains, especially general information and chat. However, he said that the company is no longer enjoying its once-dominant 99% search market share.
Instead of waiting for more concrete data, Palihapitiya urged Google to assume a significant share erosion, potentially dropping to 75% within two years, and begin planning accordingly.
That planning, he said, should include aggressively positioning Gemini as the primary user-facing interface for Google.
But doing so, he warned, requires "taste and courage." Otherwise, Google risks being caught flat-footed while rivals like Apple, OpenAI and Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) quietly implement changes and only announce them after they've already made an impact.
That reactive mindset, he cautioned, could demoralize Google&#8217;s talented teams and leave the company trailing in an industry where momentum matters.
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Why It's Important: Last month, Alphabet reported <a href="https://www.benzinga.com/25/04/44995955/alphabet-q1-earnings-highlights-google-search-youtube-cloud-show-robust-momentum">first-quarter revenue</a> of $90.23 billion, a 12% increase year-over-year that exceeded Wall Street's estimate of $89.2 billion. A major contributor to this growth was Google Search, which generated $50.7 billion in revenue, up from $46.2 billion in the same quarter last year.
As of March 2025, Google held a 79.1% share of the global desktop search engine market. While it still maintains a significant lead over its rivals, this marks the lowest market share the company has seen on desktop platforms in more than 20 years, according to Statista.
The German database company also noted that in January 2025, Google commanded 93.82% of the global mobile search engine market.
Photo Courtesy: JHVEPhoto on Shutterstock.com
Read Next: <a href="https://benzinga.com/markets/25/04/44891778/nvidia-not-acting-in-us-interests-says-chamath-palihapitiya-questions-how-alibaba-or-deepseek-are-one-step-ahead">Nvidia Not Acting In US Interests, Says Chamath Palihapitiya — Questions, How Alibaba Or DeepSeek Are One Step Ahead</a>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Tech

AAPL

GOOG

GOOGL

Apple Executive Says iPhone Users Are Ditching Google — Now Chamath Palihaptiya Urges The Search Giant To Stop Waiting For Data And Start Fighting Models Like ChatGPT

Fund manager and long-term Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) bull, Gary Black, is weighing in on the long-running debates surrounding the EV giant, the industry&#8217;s future, and trends such as autonomy and driverless ridesharing.
What Happened: On Sunday, in a long post on X, Black outlined how his past views on the electric vehicle maker have been validated in recent years, despite the pushback from Tesla&#8217;s investor community at the time, whom he dubs as the &#8220;TSLA faithful.&#8221;
&#8220;For years I argued TSLA would never hit 20 million deliveries by 2030,&#8221; Black says, referring to CEO Elon Musk's long-term volume target. &#8220;I was told Elon said they would, to which I asked, why do you listen to management?&#8221; 
He noted that Wall Street's current consensus figures for 2030 are now closer to 3.9 million units, and added that many Tesla bulls themselves have since pivoted to downplaying EV delivery volumes as a core valuation metric. 
See Also: <a href="https://www.benzinga.com/markets/25/05/45338228/chinas-ev-market-surges-past-us-and-europe-chinas-elon-musk-shares-two-stats-that-explain-why">China&#8217;s EV Market Surges Past US and Europe—&#8217;China&#8217;s Elon Musk&#8217; Shares Two Stats That Explain Why</a>
In his post, Black also criticized the company&#8217;s reluctance to embrace traditional advertising and public relations, arguing that as the market leader, it has to communicate the benefits of EVs to ICE (Internal Combustion Engine) vehicle owners to pave the way for broader adoption.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Over the years I've had numerous debates with <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> faithful who have rejected my takes, only to come back later to admit I was right: 1/ 50% volume growth target &#8211; For years I argued that TSLA would never get to 20M vehicle deliveries by 2030 (25% industry share) and was told…
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1921171877260677289?ref_src=twsrc%5Etfw">May 10, 2025</a></blockquote>
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On pricing, Black points out that Tesla&#8217;s margin-eroding price cuts in 2023 and 2024 failed to generate any meaningful volume growth, just as he had predicted. He also warns that further price moves with newer models could face similar outcomes.
Turning to autonomy, Black challenged the notion that Tesla is far ahead. &#8220;Here we are today with Waymo, AMZN, and Baidu all operating autonomous robotaxi networks,&#8221; he says, while Tesla has yet to receive a single deployment license. 
&#8220;Don't malign me for trying to inject some realism into the TSLA story,&#8221; Black says, as he turns his attention towards the growing claims from among the &#8220;faithful,&#8221; who now believe that Uber Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) and LYFT Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>) are set to go bankrupt with Tesla&#8217;s advances in autonomous driving.
In a follow-up Tweet, Black claimed that these ridesharing companies are set to benefit the most as autonomous mobility takes flight, as going driverless &#8220;reduces the cost per mile from $2/mile to $1/mile.&#8221; Black, whose firm holds a stake in both Tesla and Uber, maintains the latter&#8217;s price target at $120, representing an upside of 45%.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We own both <a href="https://twitter.com/search?q=%24UBER&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$UBER</a> and <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> for different reasons. Our investment thesis on <a href="https://twitter.com/search?q=%24UBER&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$UBER</a> is that as autonomy becomes table stakes for remaining in the automobile business, many auto manufacturers will achieve and be granted deployment licenses for unsupervised autonomy. <a href="https://twitter.com/search?q=%24UBER&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$UBER</a> with…
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1921351661903020335?ref_src=twsrc%5Etfw">May 10, 2025</a></blockquote>
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Why It Matters: Despite being a long-time investor in Tesla, Black has been a vocal critic of the company in recent years, having regularly highlighted the <a href="https://www.benzinga.com/markets/equities/25/05/45214525/gary-black-flags-47-projected-drop-in-teslas-april-europe-sales-predicts-6-decline-in-2025-deliv">brand&#8217;s alarming sales</a> data this year, following Musk&#8217;s growing political involvement.
He has also repeatedly criticized the company's lack of marketing, calling it its &#8220;Achilles' heel,&#8221; a weakness he says not only affects sales but also leaves the <a href="https://benzinga.com/markets/equities/25/04/45091479/teslas-marketing-skills-remain-its-achilles-heel-says-gary-black-as-robotaxi-valuations-ignore-market-limitsfull-uber-lyft-profits-still-fall-short-of-2000-target">company at a disadvantage</a> with regulators.
Black, however, remains <a href="https://www.benzinga.com/news/25/05/45336172/tesla-bull-gary-black-reaffirms-elon-musks-company-best-positioned-to-capitalize-on-evs-and-autonomo">bullish on the company</a> in the long run, having stated recently that &#8220;Long term we like the $TSLA story,&#8221; and that &#8220;As EV adoption and demand for autonomy increases, $TSLA remains the best positioned to capitalize on these two megatrends.&#8221;
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<tbody>
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<td class="has-text-align-center" data-align="center">Stocks / ETFs</td>
<td class="has-text-align-center" data-align="center">Year-To-Date Returns</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)</td>
<td class="has-text-align-center" data-align="center">-21.36%</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">Uber Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>)</td>
<td class="has-text-align-center" data-align="center">+31.09%</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">LYFT Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>)</td>
<td class="has-text-align-center" data-align="center">+21.98%</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">Fidelity Electric Vehicles and Future Transpo ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/FDRV#BATS">FDRV</a>)</td>
<td class="has-text-align-center" data-align="center">+2.73%</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">iShares Self-Driving EV and Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDRV#NYSE">IDRV</a>)</td>
<td class="has-text-align-center" data-align="center">+4.51%</td>
</tr>
</tbody>
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Price Action: Tesla shares were up 4.72% on Friday, and are up 0.35% after hours.
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According to Benzinga&#8217;s Edge Stock Rankings, Tesla shares score well on momentum and quality, but fall short on growth and value. How does it compare with Uber, Lyft or Rivian, for that matter? Sign up for <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Benzinga Edge</a> to find out. 
Photo Courtesy: G.Tbov On Shutterstock.com
Read More: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/general/health-care/25/05/45339399/trump-says-prescription-drug-prices-set-to-drop-by-30-to-80-almost-immediately-thanks-to-most-favored-nation-plan-mark-cuban-urges-president-to-force-tran">Trump Says Prescription Drug Prices Set To Drop By 30% To 80% &#8216;Almost Immediately&#8217; Thanks To &#8216;Most Favored Nation&#8217; Plan, Mark Cuban Urges President To &#8216;Force Transparency&#8217;</a></li>
</ul>

Markets

Fidelity Electric Vehicles and Future Transportation ETF

FDRV

IDRV

LYFT

TSLA

UBER

Gary Black Doubles Down On Uber's Autonomy Upside, Reflects Debates With Tesla Faithful: 'I Was Right'

Prominent economists offered mixed reactions Sunday as markets rallied following announcement of a tentative U.S.-China trade agreement reached during weekend talks in Geneva, with futures surging on optimism despite limited details of the actual terms.
What Happened: Mohamed El-Erian, Chief Economic Advisor at Allianz, highlighted the importance of the talks, noting they &#8220;will shed light on three major aspects: China&#8217;s appetite for pain, America&#8217;s fear of &#8217;empty shelves,&#8217; and how each country prioritizes longer-term trade policy objectives.&#8221;
El-Erian emphasized the deal&#8217;s significance extends beyond bilateral relations, writing on Substack that &#8220;the longer the US retains prohibitive tariffs on China, the greater the likelihood that other countries will be forced to impose their tariffs on Beijing to protect against dumping.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">An interesting week ahead for the global economy and markets, including on account of China-US tariff talks, the follow-up to the Federal Reserve policy meeting, and data: The outcome of this weekend's China-US tariff talks in Switzerland will be assessed in terms of what it…
&mdash; Mohamed A. El-Erian (@elerianm) <a href="https://twitter.com/elerianm/status/1921319822274523284?ref_src=twsrc%5Etfw">May 10, 2025</a></blockquote>
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Economist Peter Schiff expressed skepticism, writing on X: &#8220;If the deal includes major reductions in tariffs, the only thing that could reduce our trade deficit would be a substantial upward revaluation of the RMB [Renminbi] .&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Stock futures are up and gold is down on optimism regarding a U.S./China trade deal, despite no terms having been released. If the deal includes major reductions in tariffs, the only thing that could reduce our trade deficit would be a substantial upward revaluation of the RMB.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1921718934086045845?ref_src=twsrc%5Etfw">May 12, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/general/health-care/25/05/45339399/trump-says-prescription-drug-prices-set-to-drop-by-30-to-80-almost-immediately-thanks-to-most-favored-nation-plan-mark-cuban-urges-president-to-force-tran">Trump Says Prescription Drug Prices Set To Drop By 30% To 80% &#8216;Almost Immediately&#8217; Thanks To &#8216;Most Favored Nation&#8217; Plan, Mark Cuban Urges President To &#8216;Force Transparency&#8217;</a>
Why It Matters: U.S. Treasury Secretary Scott Bessent praised the &#8220;substantial progress&#8221; between the two countries, while Trade Ambassador Jamieson Greer <a href="https://www.benzinga.com/markets/25/05/45339384/dow-futures-rally-over-400-points-as-us-china-come-to-agreement-in-geneva-trade-talks">noted the speed with which negotiators</a> &#8220;were able to come to [an] agreement&#8221; addressing what he termed a &#8220;national emergency&#8221; — the $1.2 trillion trade deficit.
Markets <a href="https://www.benzinga.com/markets/25/05/45339384/dow-futures-rally-over-400-points-as-us-china-come-to-agreement-in-geneva-trade-talks">responded positively</a>, with S&amp;P 500 Futures rising 1.35% to 5,754.50, while recession odds on prediction market Polymarket fell below 50% for <a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45339503/recession-odds-fall-below-50-on-polymarket-as-crypto-bettors-assess-the-us-china-trade-deal">the first time in weeks</a>. The dollar strengthened, trading up 0.26% at 100.67.
Chinese Vice Commerce Minister Li Chenggang called the outcome &#8220;good news for the world,&#8221; with both sides promising to release complete details Monday.
Photo Courtesy: Dilok Klaisataporn On Shutterstock.com
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/movers/25/05/45339289/bitcoin-taps-105000-ethereum-steady-dogecoin-falls-as-us-announces-china-trade-deal-analyst-says-btc-in-for-a-price-discovery-uptrend-if-it-secures-a-weekly-close-above-this-lev">Bitcoin Taps $105,000, Ethereum Steady, Dogecoin Falls As US Announces China Trade Deal: Analyst Says BTC In For A &#8216;Price Discovery Uptrend&#8217; If It Secures A Weekly Close Above This Level</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Mohamed El-Erian Warns US-China Deal Reveals 'America's Fear Of Empty Shelves' As Markets Rally On Trade Optimism, Peter Schiff Skeptical Without Renminbi Revaluation

Strategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) executive chairman Michael Saylor on Sunday posted a cute AI-generated video of his child persona discussing Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) optimistic outlook with cryptocurrency journalist Laura Shin.
What happened:&nbsp; In the video, Saylor's kid version responds to a question from Shin's kid version about whether Strategy would ever sell Bitcoin during market downturns.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It&#39;s going up forever, Laura.<a href="https://t.co/WntuywFtlO">pic.twitter.com/WntuywFtlO</a>
&mdash; Michael Saylor (@saylor) <a href="https://twitter.com/saylor/status/1921354094683254957?ref_src=twsrc%5Etfw">May 10, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The child, in Saylor&#8217;s voice, dismisses the idea of selling Bitcoin, calling the apex cryptocurrency a "technically superior" asset to major fiat currencies, including the dollar.&nbsp;
"The point is if if you have the superior asset, it&#8217;s going up forever, Laura," the junior Saylor said.
In case you were wondering, the AI interaction mimicked their actual March 2021 interaction.
<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="Michael Saylor: Bitcoin is the "Superior Asset" &amp; it's going up "FOREVER Laura"" width="500" height="281" src="https://www.youtube.com/embed/zTPoRDrtc0s?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>
See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/25/05/45275169/ethereum-stagnant-after-pectra-upgrade-but-analyst-deems-the-overhaul-tailwind-that-could-power-eth-above-2000">Ethereum Flat After Pectra Upgrade, But Analyst Foresees Overhaul &#8216;Tailwind&#8217; That Could Take ETH Above $2,000</a>
Why It Matters: Saylor's advocacy came while the Bitcoin market was <a href="https://www.benzinga.com/trading-ideas/movers/25/05/45339289/bitcoin-taps-105000-ethereum-steady-dogecoin-falls-as-us-announces-china-trade-deal-analyst-says-btc-in-for-a-price-discovery-uptrend-if-it-secures-a-weekly-close-above-this-lev">experiencing a significant upturn</a>, regaining its $100,000 threshold and proceeding toward all-time highs.
Positive macroeconomic events, such as the U.S.-China trade agreement, have contributed to the rebound.
It's worth reminding that Saylor's firm, Strategy, is the largest corporate holder of Bitcoin, sitting on a stockpile worth $57.6 billion as of this writing, <a href="https://bitcointreasuries.net/">according </a>to bitcointreasuries.net.
Price Action:&nbsp; At the time of writing, Bitcoin was exchanging hands at $103,765.15, up 0.09% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. 
Shares of Strategy closed 0.40% higher at $416.03 during Friday's regular session. 
MSTR demonstrated a very high momentum score—a measure of the stock's relative strength based on its price movement patterns and volatility over multiple timeframes—as of this writing. If you want to know which other Bitcoin-buying companies possess a high momentum, visit <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Benzinga Edge Stock Rankings</a>.
Shutterstock/Quality Stock Arts
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="513" height="181" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/11231659/Screenshot-2025-05-12-084449.png" alt="" class="wp-image-911211" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/11231659/Screenshot-2025-05-12-084449.png 513w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/11231659/Screenshot-2025-05-12-084449-300x106.png 300w" sizes="(max-width: 513px) 100vw, 513px" /></figure>
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45277600/trumps-crypto-policy-like-a-large-buffet-says-anthony-scaramucci-you-have-to-eat-everything-at-the-table">Anthony Scaramucci Compares Trump&#8217;s Crypto Policy To Mar-A-Lago Buffet: &#8216;You Have To Eat Everything At The Table&#8217;</a></li>
</ul>

MSTR

Michael Saylor Harnesses AI To Drive Home An Important Message On Bitcoin: 'It's Going Up Forever'

Odds that the U.S. would plunge into recession in 2025 dipped below 50% on decentralized prediction market Polymarket after the U.S. announced a trade deal with China on Sunday.
What Happened:&nbsp; Bets in favor of a betting <a href="https://polymarket.com/event/us-recession-in-2025">contract</a> titled &#8220;US recession in 2025?&#8221; dropped from 52% to 49% over the last 24 hours on the Polygon (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">POL</a>)-based platform.
As of this writing, bookmakers have wagered over $5 million on the bet. The outcome resolves to "Yes" if the economy experiences another quarter of negative growth or if the National Bureau of Economic Research declares a recession before January 1, 2026.
Polymarket, which allows users to buy "Yes" and "No" shares in USD Coin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>), is not<a href="https://www.benzinga.com/24/11/41838037/will-polymarket-return-to-the-us-after-getting-trump-victory-right-ceo-says-its-part-of-the-plan"> available to U.S. residents</a> due to regulatory restrictions.
See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/25/05/45275169/ethereum-stagnant-after-pectra-upgrade-but-analyst-deems-the-overhaul-tailwind-that-could-power-eth-above-2000">Ethereum Flat After Pectra Upgrade, But Analyst Foresees Overhaul &#8216;Tailwind&#8217; That Could Take ETH Above $2,000</a>
Why It Matters: The dip in probability comes after the White House announced a <a href="https://www.benzinga.com/trading-ideas/movers/25/05/45339289/bitcoin-taps-105000-ethereum-steady-dogecoin-falls-as-us-announces-china-trade-deal-analyst-says-btc-in-for-a-price-discovery-uptrend-if-it-secures-a-weekly-close-above-this-lev">trade deal between the U.S. and China</a> in Geneva following high-level talks between the two countries.
President Donald Trump also said that&nbsp; <a href="https://www.benzinga.com/news/global/25/05/45337811/trump-announces-total-reset-as-us-china-trade-talks-aim-to-end-tariff-war">&#8220;great progress&#8221; was made</a> during the talks and that a "total reset" could be expected.
In response, <a href="https://www.benzinga.com/markets/25/05/45339384/dow-futures-rally-over-400-points-as-us-china-come-to-agreement-in-geneva-trade-talks">stock futures spiked</a>, with the Dow Jones Futures rallying over 400 points Sunday night.
Trump's sweeping tariff measures have caused turbulence in financial markets, spurred macroeconomic uncertainty and threatened product shortages.
The economy<a href="https://www.benzinga.com/economics/macro-economic-events/25/04/45100047/recession-odds-spike-wall-street-tumbles-as-q1-gdp-surprisingly-contracts-be-patient-trump-responds"> shrank by 0.3% in the first quarter</a>, marking the first quarterly contraction since the second quarter of 2022.
Photo Courtesy: Dilok Klaisataporn On Shutterstock.com
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45277600/trumps-crypto-policy-like-a-large-buffet-says-anthony-scaramucci-you-have-to-eat-everything-at-the-table">Anthony Scaramucci Compares Trump&#8217;s Crypto Policy To Mar-A-Lago Buffet: &#8216;You Have To Eat Everything At The Table&#8217;</a></li>
</ul>

$POL

$USDC

Recession Odds Fall Below 50% On Polymarket As Crypto Bettors Digest US-China Trade Deal News

On Sunday, President Donald Trump vowed to <a href="https://www.benzinga.com/markets/25/04/44945973/trump-administration-considers-lowering-us-drug-prices-to-international-levels-report">slash prescription drug prices</a> through a sweeping executive order.
What Happened: Trump took to Truth Social and announced plans to sign a new executive order. Under what he called a "most favored nation" pricing policy, the President said the executive order will ensure that "the United States will pay the same price as the Nation that pays the lowest price anywhere in the World."
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="966" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/11221440/Screenshot-2025-05-12-at-11.14.22.png" alt="" class="wp-image-911175" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/11221440/Screenshot-2025-05-12-at-11.14.22.png 612w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/11221440/Screenshot-2025-05-12-at-11.14.22-190x300.png 190w" sizes="(max-width: 612px) 100vw, 612px" /></figure>
Screenshot From President Donald Trump&#8217;s Truth Social Account
He added that prescription drug prices would drop "almost immediately, by 30% to 80%," and called the move "one of the most consequential Executive Orders in our Country's history."
In response, a user on X, formerly Twitter, expressed skepticism, saying, "It would be nice if Trump&#8217;s super important post about drug prices was really achievable. I think all Democrats would agree&#8230; But like most things Trump brags about, they are pie-in-the-sky promises that can&#8217;t and won&#8217;t actually materialize."
See Also: &nbsp;<a href="https://benzinga.com/news/25/04/44935195/elizabeth-warren-says-if-trump-illegally-fires-fed-chair-powell-hell-crash-our-markets-cause-more-economic-p" target="_blank" rel="noreferrer noopener">Elizabeth Warren Says, ‘If Trump Illegally Fires Fed Chair Powell, He'll Crash Our Markets, Cause More Economic Pain To American Families'</a>
That's where <a href="https://www.benzinga.com/markets/25/04/44866755/mark-cuban-says-this-trump-healthcare-order-could-save-hundreds-of-billions">billionaire entrepreneur</a> and Cost Plus Drugs founder Mark Cuban stepped in. Cuban acknowledged the ambition of Trump's plan but highlighted a more attainable path forward.
"I don't know if he can force the price, but he can force transparency, and that will help," Cuban wrote.
<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 dont know if he can force the price , but he can force transparency , and that will help. He did it w hospitals Force transparency of contracts, pricing , rebates , claims and a lot could change Biggest thing he could do is encourage brand pharma to sell to cost plus drugs… <a href="https://t.co/vkz3Q2IFkn">https://t.co/vkz3Q2IFkn</a>
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1921710702743417149?ref_src=twsrc%5Etfw">May 11, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It's Important: Last month, Trump issued a <a href="https://benzinga.com/government/regulations/25/04/44851905/trumps-new-order-targets-drug-pricing-transparency-and-medicare-cost-reduction">multi-part executive order</a> targeting drug pricing transparency and Medicare cost reduction.
Earlier this month, he signed <a href="https://www.benzinga.com/news/25/05/45232993/trump-orders-fda-to-fast-track-us-drug-production-as-tariff-threat-looms-on-imported-medicines-cites">another executive order directing</a> the Food and Drug Administration to expedite approvals for domestic pharmaceutical manufacturing facilities.
The Invesco Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PJP#NYSE">PJP</a>) and iShares U.S. Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHE#NYSE">IHE</a>) rose 2.61% and 2.81%, respectively, over the past month.
Price Action: In after-hours trading, Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) was up 0.20%, while Eli Lilly and Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) and Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) increased by 0.32% and 0.13%, respectively. Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) also saw a modest gain of 0.12%, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Photo Courtesy: PeopleImages.com &#8211; Yuri A On Shutterstock.com
Read Next:
<ul class="wp-block-list">
<li><a href="https://benzinga.com/markets/cryptocurrency/25/04/44930938/dogecoin-jumps-7-shiba-inu-up-4-is-a-major-meme-rally-brewing" target="_blank" rel="noreferrer noopener">Dogecoin Jumps 7%, Shiba Inu Up 4%: Is A Major Meme Rally Brewing?</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Government

Health Care

iShares Dow Jones US Pharmaceuticals Index Fund

Trump Says Prescription Drug Prices Set To Drop By 30% To 80% 'Almost Immediately' Thanks To 'Most Favored Nation' Plan, Mark Cuban Urges President To 'Force Transparency'

U.S. stock futures rose Sunday evening after weekend trade talks in Geneva signaled potential de-escalation in the ongoing trade war with China.
The S&amp;P 500 Futures are up 1.35%, trading at 5,754.50, Nasdaq Futures are trading at 20,515.25, up 1.88%, and finally Dow Jones Futures are up 1.01%, trading at 41,740.
On the other side of the Pacific, Japan&#8217;s Nikkei 225 index opened higher, and is trading at 37,611.66, up 0.29% at the time of writing this, led by real estate, tech exports, and semiconductor stocks, as fresh optimism on trade talks helped spur sentiments.
The White House announced progress on the deal in a post on X on Sunday. Treasury Secretary Scott Bessent hailed the &#8220;substantial progress&#8221; made between the two countries in what he called &#8220;very important trade talks.&#8221;
U.S. Trade Ambassador Jamieson Greer pointed out the quickness with which U.S. and China &#8220;were able to come to agreement.&#8221; He expressed confidence that the deal that was struck would help the U.S. with the &#8220;national emergency&#8221; that was the massive $1.2 trillion trade deficit.
<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">BREAKING: U.S. Announces China Trade Deal in Geneva <a href="https://t.co/JjgvYAvAGe">pic.twitter.com/JjgvYAvAGe</a>
&mdash; The White House (@WhiteHouse) <a href="https://twitter.com/WhiteHouse/status/1921623939060519353?ref_src=twsrc%5Etfw">May 11, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See More: <a href="https://www.benzinga.com/25/05/45338985/trump-reportedly-set-to-accept-flying-palace-from-qatar-white-house-says-lavish-gift-of-boeing-jumbo-jet-complies-with-all-applicable-laws">Trump Reportedly Set To Accept &#8216;Flying Palace&#8217; From Qatar, White House Says Lavish Gift Of Boeing Jumbo Jet Complies With &#8216;All Applicable Laws&#8217;</a>
The U.S. Dollar Index (DXY) continued its rally on Sunday evening, up 0.26%, trading at 100.67, following hopes of trade deals and the Fed&#8217;s decision last week to keep <a href="https://www.benzinga.com/25/05/45314594/asia-markets-mixed-eurozone-gains-oil-rises-on-trade-deal-hopes-global-markets-today-while-us-slept">interest rates steady</a>.
On Sunday, the Chinese delegation also announced that both sides had reached an &#8220;important consensus&#8221; during the ongoing trade talks in Geneva. While neither side has released any details yet, Chinese Vice Commerce Minister Li Chenggang was quoted as saying that the outcome would be &#8220;good news for the world,&#8221; according to a report by Reuters.
According to Bessent and Greer, the details of this &#8220;substantial progress&#8221; will be announced on Monday.
Investors on Monday will also be closely watching the earnings of NRG Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>), Monday.com Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNDY#NASDAQ">MNDY</a>), and DaVita Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVA#NYSE">DVA</a>). Fed Governor Adriana Kugler&#8217;s speech early in the day, alongside the monthly U.S. Federal Budget, will be monitored. 
Photo Courtesy: Tomas Ragina On Shutterstock.com
Read More: <a href="https://www.benzinga.com/news/global/25/05/45337811/trump-announces-total-reset-as-us-china-trade-talks-aim-to-end-tariff-war">Trump Announces &#8216;Total Reset&#8217; as US-China Trade Talks Aim to End Tariff War</a>

MNDY

Dow Futures Rally Over 400 Points As US, China 'Come To Agreement' In Geneva Trade Talks

Leading cryptocurrencies held on to gains Sunday as the U.S. announced a trade deal with China.
<figure class="wp-block-table"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:30 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+0.65%</td>
<td>$105,015.33</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+0.33%</td>
<td>$2,536.90</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-4.10%</td>
<td>$0.2364</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin tapped $105,000 for the first time since the last week of January, while Ethereum consolidated between the mid-$2,400s and the early $2,500s.
Ethereum's market dominance topped 9%, while Bitcoin's market share narrowed to 62%.
Over $333 million was liquidated from the cryptocurrency market in the last 24 hours, with bullish leveraged bets accounting for $216 million.
Nearly $720 million in Bitcoin shorts risked liquidation if the apex cryptocurrency reclaimed its all-time high of $109,000.
Bitcoin's Open Interest rose 1.81% in the last 24 hours, although over 60% of Binance traders with an open BTC position were positioned short.
The market remained "Greedy" according to the Crypto Fear and Greed Index, implying a potential surge in buying pressure.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:30 p.m. ET)</td>
</tr>
<tr>
<td>Pi (PI)</td>
<td>+49.64%</td>
<td>$1.15</td>
</tr>
<tr>
<td>Four (FORM)</td>
<td>+8.61%</td>
<td>$2.59</td>
</tr>
<tr>
<td>Kaspa (KAS)</td>
<td>+6.89%</td>
<td>$0.1184</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.34 trillion, following a 0.60% dip in the last 24 hours.
Stock futures spiked Sunday overnight. The Dow Jones Industrial Average Futures rose 436 points, or 1.06%, as of 8:36 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 lifted 1.34%, while Nasdaq 100 Futures gained 1.76%.
The rally came after President Donald Trump said <a href="https://www.benzinga.com/news/global/25/05/45337811/trump-announces-total-reset-as-us-china-trade-talks-aim-to-end-tariff-war">"great progress" was made</a> during the high-level trade talks between the U.S. and China in Geneva and signaled a "total reset."&nbsp;
Infact, the White House announced progress on the trade deal in a post on X.
<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">BREAKING: U.S. Announces China Trade Deal in Geneva <a href="https://t.co/JjgvYAvAGe">pic.twitter.com/JjgvYAvAGe</a>
&mdash; The White House (@WhiteHouse) <a href="https://twitter.com/WhiteHouse/status/1921623939060519353?ref_src=twsrc%5Etfw">May 11, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
This week, investors will await the consumer price index reading for April, allowing them to gauge the impact of trade tensions on the economy and inflation.
Stocks also climbed on Wednesday. The Dow Jones Industrial Average rose 254.48 points, or 0.62%, to end at 41,368.45. The S&amp;P 500 lifted 0.58% to close at 5,663.94, while the tech-heavy Nasdaq Composite gained 1.07% to finish at 17,928.14.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Cryptocurrency analyst and trader Rekt Capital identified $104,500 as a significant level for Bitcoin, with a weekly close above it paving the way for a &#8220;price discovery uptrend.&#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"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> Are you ready for Price Discovery Uptrend 2? Bitcoin is a Weekly Close above ~$104500 away from breakout<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/os0jw3oS1O">https://t.co/os0jw3oS1O</a> <a href="https://t.co/joZSavPQ6h">pic.twitter.com/joZSavPQ6h</a>
&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1921550395559538839?ref_src=twsrc%5Etfw">May 11, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Another widely followed trader, Roman, said Ethereum's weekly growth chart painted a "solid recovery."&nbsp;
"I'd like to see a bit more continuation before a pullback. Will consider opening up alt spot positions once again if this occurs," Roman added.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> 1W Not gonna lie, looking like a solid recovery as we're back above diagonal and horizontal resistance. I'd like to see a bit more continuation before a pullback. Will consider opening up <a href="https://twitter.com/search?q=%24alt&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$alt</a> spot positions once again if this occurs. This next weekly close is important! <a href="https://t.co/74O0AHrU3v">pic.twitter.com/74O0AHrU3v</a>
&mdash; Roman (@Roman_Trading) <a href="https://twitter.com/Roman_Trading/status/1921713585547268394?ref_src=twsrc%5Etfw">May 11, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo Courtesy: Yalcin Sonat on Shutterstock.com
Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45335892/decade-old-bitcoin-whale-emerges-transfers-207-51-million-btc-with-nearly-112000-profit">Decade-Old Bitcoin Whale Emerges, Transfers $207.51 Million BTC With Nearly 112,000% Profit</a></li>
</ul>

Movers

Trading Ideas

$DOGE

$ETH

Bitcoin Taps $105,000, Ethereum Steady, Dogecoin Falls As US Announces China Trade Deal: Analyst Says BTC In For A 'Price Discovery Uptrend' If It Secures A Weekly Close Above This Level

The Trump administration is preparing to receive a luxurious Boeing 747-8 jumbo jet from Qatar&#8217;s royal family.
What Happened: This aircraft is set to become the new Air Force One for President Donald Trump until the conclusion of his term, <a href="https://abcnews.go.com/Politics/trump-administration-poised-accept-palace-sky-gift-trump/story?id=121680511">reported</a> ABC News.
The Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>)-manufactured jet, valued at approximately $400 million, will be transferred to the U.S. Air Force for modifications to meet presidential transport standards, reported ABC, citing sources. The plane will eventually be handed over to the Trump Presidential Library Foundation by January 1, 2029.
Legal assessments by the White House&nbsp;and the Department of Justice, as reported by ABC News, concluded that the gift does not violate bribery laws or the Constitution&#8217;s emoluments clause, as it is not tied to any official act and&nbsp;will be transferred to the&nbsp;U.S. Air Force.
The White House press secretary,&nbsp;Karoline Leavitt, assured that the gift complies with all legal requirements. Qatar&#8217;s media attaché,&nbsp;Ali Al-Ansari, confirmed that the transfer is under consideration by both&nbsp;Qatar's Ministry of Defense and&nbsp;the U.S. Department of Defense.
&#8220;Any gift given by a foreign government is always accepted in full compliance with all applicable laws,&#8221; said Leavitt. She said the administration was committed to &#8220;full transparency.&#8221;
The&nbsp;current Air Force One fleet&nbsp;consists of aging Boeing 747-200 jets, with replacements delayed until 2027. President Trump has expressed frustration over these delays, seeking faster solutions.
See Also: <a href="https://benzinga.com/news/24/06/39430780/chinese-ev-maker-xpeng-offers-test-drive-of-its-adas-to-tesla-ceo-elon-musk-after-he-xiaopeng-tries" target="_blank" rel="noreferrer noopener">Chinese EV Maker Xpeng Offers Test Drive Of Its ADAS To Tesla CEO Elon Musk After He Xiaopeng Tries FSD</a>
Why It Matters: Trump toured the plane—so lavishly outfitted it&#8217;s referred to as &#8220;a flying palace&#8221;—while it was stationed at West Palm Beach International Airport in February, according to ABC News.
The acquisition of the Boeing 747-8 from Qatar comes amid ongoing delays in the delivery of new Air Force One aircraft by Boeing Co.  Initially scheduled for delivery in 2024, the new jets are <a href="https://www.benzinga.com/government/regulations/25/05/45277106/trumps-air-force-one-delayed-until-2027-as-boeing-struggles-with-trade-offs-air-force-official-tells-lawmakers">now expected</a> to arrive in 2027.
This delay has prompted Trump to <a href="https://www.benzinga.com/tech/25/02/43843159/trump-considers-alternatives-for-air-force-one-planes-besides-boeing-says-hes-not-happy-but-dismisses-airbus">explore alternatives</a>, expressing dissatisfaction with Boeing&#8217;s timeline. Despite considering other manufacturers, Trump has ruled out Airbus as an option.
Additionally, Tesla and SpaceX CEO Elon Musk has been involved in <a href="https://in.benzinga.com/25/02/43865891/elon-musks-involvement-key-to-solving-boeings-air-force-one-delivery-crisis-report">addressing Boeing&#8217;s delivery challenges</a>, highlighting the complexities surrounding the Air Force One project.
Benzinga Edge Stock Rankings places Boeing Momentum in the 84th percentile and Growth in the 12th percentile. Want to see how other aviation stocks compare? <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="441" height="276" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/11202911/Screenshot-2025-05-12-at-9.28.56.png" alt="" class="wp-image-911125" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/11202911/Screenshot-2025-05-12-at-9.28.56.png 441w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/11202911/Screenshot-2025-05-12-at-9.28.56-300x188.png 300w" sizes="(max-width: 441px) 100vw, 441px" /></a></figure>
Price Action: On Friday, Boeing Co. stock closed 1.64% higher at $194.85 in the regular session.
Photo Courtesy: Michael Candelori on Shutterstock.com
Check out more of Benzinga's Future Of Mobility coverage by <a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a> 
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Trump Reportedly Set To Accept 'Flying Palace' From Qatar, White House Says Lavish Gift Of Boeing Jumbo Jet Complies With 'All Applicable Laws'

Frank Bisignano, a former Wall Street executive and longtime payments industry leader, has officially taken the reins as the 18th commissioner of the <a href="https://www.benzinga.com/personal-finance/25/05/45297093/social-security-highlights-first-100-days-of-trump-administration-key-reforms-and-billions-in-retroactive-payments">Social Security Administration</a>. His appointment, confirmed by a 53-47 Senate vote on May 6, marks a new phase for an agency that serves over 72 million Americans and distributes more than $1.5 trillion in benefits annually.
Bisignano's confirmation comes after a tumultuous stretch under temporary leadership and rising concern about the influence of the Department of Government Efficiency — a Trump administration initiative that has triggered debate about data privacy and staffing cuts at the SSA.
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<h2 class="wp-block-heading">Who Is Frank Bisignano?</h2>
Bisignano brings decades of executive experience, having served as CEO of both First Data Corp. and Fiserv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FI#NYSE">FI</a>), a financial technology firm that processes more than $2.5 trillion in payments daily. Raised in a working-class Brooklyn household, Bisignano emphasized his respect for federal workers in his Senate testimony, drawing on his father's 46-year career with the Treasury Department.
But his leadership style and background in the private sector have stirred controversy — especially when he told <a href="https://www.cnbc.com/2025/03/25/trump-pick-to-lead-social-security-faces-questions-on-doge-involvement.html">CNBC</a> in February, "I'm fundamentally a DOGE person." That remark, referencing the controversial Department of Government Efficiency, has raised eyebrows among Social Security advocates and Democratic lawmakers.
<h2 class="wp-block-heading">What Is DOGE, and Why Does It Matter?</h2>
DOGE is not a traditional federal department. Instead, it's a Trump-era task force aimed at overhauling federal agencies through rapid modernization and streamlining — sometimes at the cost of established processes.
Trending: Many are using retirement income calculators to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a>
Under DOGE's influence, the SSA has seen <a href="https://www.benzinga.com/news/25/05/45281537/gop-warns-trump-appointed-social-security-chief-frank-bisignano-against-further-staff-cuts-citing-risks-to-services-as-baby-boomers-age">deep job cuts</a>, attempts to alter sensitive databases, and major operational shifts. These actions have alarmed beneficiaries, agency staff, and former commissioners alike.
A federal judge has already issued a <a href="https://www.benzinga.com/25/03/44438870/extremely-worrisome-and-surprising-federal-judge-considers-emergency-order-to-block-doge-from-social-security-systems">preliminary injunction</a> blocking DOGE from accessing sensitive data like Social Security numbers, medical records, and tax information. Former Acting Commissioner Michelle King reportedly stepped down due to concerns about DOGE's access to such data.
<h2 class="wp-block-heading">What Bisignano Says He'll Focus On</h2>
Despite his DOGE comment, Bisignano has stated that he does not support privatizing Social Security. "I've never thought about privatizing," he said during his Senate confirmation hearing in March. "I don't see this institution as anything other than a government agency that gets run for the American public."
He's outlined three major goals:
<ol class="wp-block-list">
<li>Fixing Overpayments – The SSA has mistakenly issued more than $71 billion in improper payments from 2015-2022, according to an SSA Inspector General <a href="https://oig.ssa.gov/news-releases/2024-08-19-ig-reports-nearly-72-billion-improperly-paid-recommended-improvements-go-unimplemented/">report</a>. Bisignano says lowering the error rate is a top priority, but "we have to be humans in the process" during overpayment recoveries.</li>
<li>Reducing Wait Times – He wants to cut down long wait times when people call or apply for disability benefits. He mentioned using AI to improve response times, targeting under a one-minute wait on the agency's 800 number.</li>
<li>Protecting Personal Data – After pressure from lawmakers, Bisignano pledged to safeguard personal information.</li>
</ol>
See Also: <a href="https://www.benzinga.com/money/gbr-savings-by-age">If You're Age 35, 50, or 60: Here&#8217;s How Much You Should Have Saved Vs. Invested By Now</a>
<h2 class="wp-block-heading">What Could Change for Your Benefits?</h2>
For now, Bisignano's leadership is still new — and while his management background may help improve processing speeds and efficiency, concerns remain about privacy and agency stability. Advocacy groups like Social Security Works worry his ties to DOGE signal continued upheaval.
Still, in a <a href="https://www.ssa.gov/news/press/releases/2025/#2025-05-07">press release</a> from the SSA, Bisignano emphasized his intent to "protect Social Security" and turn the agency into a "premier organization."
Time will tell how that mission plays out for the millions who depend on the program.
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Personal Finance

Trump's New Social Security Commissioner Says He's 'Fundamentally A DOGE Person' — What That Could Mean For Your Benefits

Kevin O'Leary, the entrepreneur and investor known as Mr. Wonderful from &#8220;Shark Tank,&#8221; recently shared his thoughts on loyalty programs, describing them as a losing game for consumers.
&#8220;Loyalty programs? Don't fall for the hype. Points are inflating faster than the dollar,&#8221; O&#8217;Leary <a href="https://x.com/kevinolearytv/status/1920111878514319666">wrote on X</a> recently.&nbsp;
<h2 class="wp-block-heading">Why O'Leary Cashes Out Quickly</h2>
In the same post, he shared a video in which he elaborated further. "Loyalty schemes and point systems. Worthless, worthless," he said. "The inflation in points from airlines is absurd. Just look at what you got 12 months ago for what you get now."
<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">Loyalty programs? Don't fall for the hype. Points are inflating faster than the dollar. What used to get you a flight to Hawaii now barely buys you a carry-on. I sign up for every program—but I cash out the second I get the points. That's how smart consumers win. The game is… <a href="https://t.co/TMgwKFPGfQ">pic.twitter.com/TMgwKFPGfQ</a>
&mdash; Kevin O&#39;Leary aka Mr. Wonderful (@kevinolearytv) <a href="https://twitter.com/kevinolearytv/status/1920111878514319666?ref_src=twsrc%5Etfw">May 7, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
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O'Leary claims that loyalty points, which many consumers accumulate in hopes of earning <a href="https://www.benzinga.com/money/best-airline-credit-cards">free flights or other rewards</a>, have lost significant value over time. "People think, oh, I&#8217;m going to amass loyalty points. I&#8217;m going to fly to Hawaii. You find out that two years ago, it was 30,000 points. Now it&#8217;s 170,000 points. There&#8217;s nothing you can do about it."
Instead of hoarding points, O'Leary's strategy is to cash them out as soon as possible, taking advantage of any opportunity to spend them before their value drops further. He suggests using them for goods and services wherever possible, like on Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), to avoid being caught in the cycle of point inflation.
"I sign up for every single loyalty program, every single one, any retailer, and I blow them out the second I get them," he said. "If you&#8217;re a sharp consumer, you can save about two and a half percent of your entire costs every month by just playing the game right."
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<h2 class="wp-block-heading">The Drawbacks of Hoarding Points</h2>
This approach contrasts with the more traditional strategy of trying to <a href="https://www.benzinga.com/personal-finance/24/06/39190507/is-maximizing-credit-card-rewards-worth-it">maximize credit card rewards</a> over time, which can be effective but requires financial discipline, strong credit, and careful organization.&nbsp;
For those who enjoy chasing points, the effort can pay off, but it also comes with risks. If you're not careful, you can end up carrying balances, paying high interest, or even hurting your credit score if you open too many accounts too quickly.
O'Leary also points out that for people earning a high income, chasing points might not be the best use of their time. Even if you manage to earn a million points in a year, that's only about $10,000 in value, which isn&#8217;t worth the hassle for everyone.
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<h2 class="wp-block-heading">Cash Out and Move On</h2>
O'Leary's approach is simple: collect points but never hold onto them for long, as he believes &#8220;the game is rigged&#8221; against those who try to save up for larger rewards. "The most important thing to do with any loyalty program is to spend the points immediately. The second you get them, do not hold on to them."
For those who appreciate convenience, this strategy cuts down on the time spent managing multiple accounts, remembering payment dates, and tracking changing redemption rates. It's a straightforward approach that prioritizes immediate returns over long-term gains.
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AMZN

'The Game Is Rigged' Says Kevin O'Leary On Credit Card Points. He Claims They're Inflating Faster Than The Dollar And Always Cashes Out Fast

If you've been anywhere near the news lately, you already know—President Donald Trump's <a href="https://www.benzinga.com/markets/25/05/45264016/trumps-tariffs-hit-mattels-barbies-will-americans-pay-a-couple-of-bucks-more-as-president-predicts">tariffs are constantly in the spotlight</a>. The 145% tariff on Chinese imports has everyone from big tech to small businesses scrambling, and yes, there's been plenty of worry over possible empty shelves.
But while <a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45263291/fed-keeps-rates-steady-warns-of-rising-uncertainty-about-the-economic-outlook">the Federal Reserve kept rates steady this week</a> and CEOs plotted their next moves, <a href="https://www.benzinga.com/25/04/45003790/mark-cuban-slams-amazon-for-ripping-off-american-sellers-as-tariffs-are-predicted-to-boost-ecommerce-brands-profits">billionaire Mark Cuban</a> did what he does best: he went online and said what a lot of people were probably thinking.
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Cuban, who's never had a problem speaking his mind or calling out fellow billionaires, <a href="https://bsky.app/profile/mcuban.bsky.social/post/3loejyk5ktc2y">took to BlueSky on May 4</a> and dropped this gem:
"Given that most, if not all MAGA merch is made in China, I'll be really curious to see what happens to their pricing and availability."
That comment quickly gained traction—not just because it's Cuban, but because it pointed out a hilarious bit of irony. One BlueSky user jumped into the comments with a side-by-side photo: a MAGA cap with a "Made in China" tag next to a Biden hat proudly stamped "Made in USA."&nbsp;
For years, a significant portion of MAGA stuff—the very gear promoting Make "America" Great Again—hats, banners, shirts—is rumored to be produced in Chinese factories.<a href="https://x.com/onestpress/status/1911627451450470611?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1911627451450470611%7Ctwgr%5E99dc9295d44cc1c1014743663b3646911dcebcb4%7Ctwcon%5Es1_c10&amp;ref_url=https://m.economictimes.com/magazines/panache/are-donald-trumps-maga-hats-made-in-china-viral-video-claims-to-reveal-the-irony-behind-his-tariff-war-rhetoric/articleshow/120306632.cms"> Viral clips from Chinese state media</a> show workers making MAGA banners and flags.&nbsp;
Sure, some U.S. companies manufacture campaign merch domestically, but much of what floods e-commerce sites still comes from China.
Trump campaign's official website,<a href="https://www.trumpstore.com/product/classic-maga-hat/"> TrumpStore.com</a>, continues to state that its MAGA hats are "Proudly Made in USA." Federal Election Commission filings confirm that the campaign has consistently paid U.S.-based companies for the production and distribution of its hats.
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While official campaign merchandise is domestically produced, a significant portion of MAGA-themed merchandise sold through third-party vendors, especially on online marketplaces, is manufactured overseas, including in China.&nbsp;&nbsp;
Back in 2020, <a href="https://abcnews4.com/news/local/where-is-maga-merchandise-made">WJLA-TV</a> in Washington, D.C. interviewed Rocky Granada, a vendor who sold Trump merchandise at over 60 rallies.&nbsp;
He proudly declared, "I work every day for Donald Trump. I live, eat, and drink for Donald Trump." But when asked about where the merchandise was made, he admitted, "Well, most of it is made in China, but we do have some stuff that's made in America." Holding up a scarf, he pointed out it was recycled cotton—one of the few American-made items he carried. Even some rally-goers were aware that their MAGA gear wasn't exactly boosting U.S. manufacturing.
On the same day as his MAGA merch post, Cuban reshared a <a href="https://x.com/mcuban/status/1919101808208654381">video clip of Trump on X</a> brushing off a question about helping small businesses deal with tariffs.&nbsp;
See Also: <a href="https://www.benzinga.com/money/mark-cubans-advice-for-lotto-winners">Many are surprised by Mark Cuban's advice for lotto winners: Cash or annuity?</a>
In the clip, when asked, "Are you considering tariff relief for small businesses?" Trump replied, "Why do you always mention, you know, a couple of little businesses. What about the car business? They're going to make a fortune."
Cuban didn't let that slide. He added his own response to the post, writing, "Should <a href="https://www.benzinga.com/personal-finance/25/05/45229642/major-economic-disaster-amid-trump-tariffs-american-small-business-owners-face-closures-price-hikes-and-losses">small businesses be ignored</a>? Or are big industries all that matter?"
As tariffs spark fresh uncertainty—and Trump has already paused most tariffs for 90 days except for those on China—the question now isn't just about macroeconomics. It's about whether the very slogan that fueled Trump's rise might become a casualty of his own trade war.
And Cuban? He'll definitely be watching.
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Mark Cuban Mocks MAGA Merch Being 'Mostly Made In China' — Says He's 'Really Curious' How Trump's Tariffs Will Hit Their Prices And Availability

The late billionaire Charlie Munger, renowned for his financial acumen and longevity, believed the key to success was avoiding conventional pitfalls.
What Happened: Munger, who lived to 99, attributed his success to a simple and direct approach to life and work. He emphasized the importance of avoiding standard ways of failing, and was known for his cautious decision-making.
Munger, who lived in the same house for 70 years, believed that extravagant living often leads to dissatisfaction. 
&#8220;I avoided the standard ways of failing, because my game in life was always to avoid all standard ways of failing. You teach me the wrong way to play poker and I will avoid it. You teach me the wrong way to do something else, I will avoid it. And, of course, I&#8217;ve avoided a lot, because I&#8217;m so cautious,&#8221; Munger said in an interview <a href="https://www.youtube.com/watch?v=H5Oom5Rjp_Y">with </a>CNBC.
His pragmatic approach extended to his spending habits. For instance, when his business associate at&nbsp;Berkshire Hathaway&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>), Warren Buffett, decided&nbsp;to replace a company jet,&nbsp;Munger saw&nbsp;the $6.7 million expense as&nbsp;excessive.
Also Read: <a href="https://www.benzinga.com/news/25/01/43219503/charlie-mungers-three-investment-lessons-buy-wonderful-businesses-at-fair-prices-big-money-isnt-in-buying-or-selling-its-in-waiting-good-businesses-are-ethical-businesses" target="_blank" rel="noreferrer noopener">Charlie Munger's Three Investment Lessons: ‘Buy Wonderful Businesses At Fair Prices, Big Money Isn't In Buying Or Selling-It's In Waiting, Good Businesses Are Ethical Businesses'</a>
According to Munger, avoiding apparent risks, frivolity, and &#8220;insane&#8221; scenarios were key to his financial success and longevity. &#8220;Steer clear of insanity at all costs. Insanity is far more prevalent than you'd imagine. Avoid crazy at all costs. Crazy is way more common than you think. It&#8217;s easy to slip into crazy. Just avoid it, avoid it, avoid it,&#8221; Munger said.
Why It Matters: Munger&#8217;s philosophy offers valuable insights into his work ethic. 
His avoidance of conventional failure modes, cautious decision-making, and disdain for extravagance and risky ventures provide a refreshing perspective in a world often obsessed with quick riches and ostentatious displays of wealth.
His legacy serves as a&nbsp;reminder that success can be&nbsp;achieved through simplicity, caution, and&nbsp;a steadfast refusal to participate&nbsp;in &#8220;insane&#8221; ventures.
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Charlie Munger's Financial Success Advice: 'I Avoided Standard Ways Of Failing, Because My Game in Life Was Always To Avoid All Standard Ways of Failing'

Guidance

RDNT

RadNet Raises FY2025 Sales Guidance from $1.825B-$1.875B to $1.835B-$1.885B vs $1.936B Est

RadNet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDNT#NASDAQ">RDNT</a>) reported quarterly losses of $(0.35) per share which missed the analyst consensus estimate of $(0.13) by 169.23 percent. This is a 600 percent decrease over earnings of $0.07 per share from the same period last year. The company reported quarterly sales of $471.40 million which beat the analyst consensus estimate of $443.23 million by 6.36 percent. This is a 9.19 percent increase over sales of $431.71 million the same period last year.

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RadNet Q1 Adj. EPS $(0.35) Misses $(0.13) Estimate, Sales $471.40M Beat $443.23M Estimate

Grant Cardone has taken aim at Federal Reserve Chair Jerome Powell, accusing him of being antagonistic toward the Trump administration and potentially trying to block the <a href="https://www.benzinga.com/markets/equities/25/05/45187535/scott-bessent-defends-trumps-economic-agenda-as-engine-designed-to-drive-economic-growth-despite">president's pro-business agenda</a>.&nbsp;
In a May 7 <a href="https://x.com/GrantCardone/status/1920146251560935703">post on X</a>, Cardone said Powell has "already waited too long" to adjust interest rates, arguing that the Fed chief was slow to raise them in the past and is now hesitant to cut them as economic challenges mount.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Jerome Powell has already waited TOO LONG Powell either lacks confidence to act or worse he's attempting to block Trump's pro business theme. He waited too long to raise rates and now he's waiting too long to lower. He's always reactionary never proactive. Tons of economic…
&mdash; Grant Cardone (@GrantCardone) <a href="https://twitter.com/GrantCardone/status/1920146251560935703?ref_src=twsrc%5Etfw">May 7, 2025</a></blockquote>
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<h2 class="wp-block-heading">Cardone Criticizes Powell's Interest Rate Decisions</h2>
Cardone, CEO of Cardone Capital, laid out his case on X, claiming Powell's approach is "always reactionary, never proactive." He pointed to several signs that he says justify immediate rate cuts, including a slowdown in U.S. GDP, the weakest home sales since 2009, and a global economic downturn.&nbsp;
"Tons of economic data support rate cuts," Cardone wrote, adding that the U.S. has "some of the most expensive debt amongst developed nations."&nbsp;
He also pointed out that the U.S. residential and commercial real estate markets are at risk due to the high cost of borrowing, which he argues is squeezing small businesses and homeowners alike.
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<h2 class="wp-block-heading">Allegations of Political Motivation</h2>
Cardone also suggested that Powell's reluctance to lower rates might be politically motivated. He said Powell "appears antagonistic to Trump Administration and Trump's goal to renegotiate international deals via tariffs," suggesting that the Fed chief might be trying to turn populist sentiment against Trump by refusing to cut rates, which Cardone claims is hurting the American middle class and small business.&nbsp;
Cardone implied that Powell's decisions could be a strategic move to create economic headwinds for Trump as the president pursues trade deals supposedly aimed at strengthening U.S. manufacturing and reducing trade deficits.
<h2 class="wp-block-heading">Fed Holds Rates Steady Despite Uncertainty</h2>
This criticism comes as the <a href="https://www.benzinga.com/25/05/45277558/dow-surges-over-250-points-following-fed-decision-investor-sentiment-improves-fear-greed-index-in-greed-zone">Fed decided</a> on May 7 to keep its key interest rate steady in a range between 4.25% and 4.5%, citing rising economic uncertainty and the risk of stagflation as U.S. tariffs disrupt global trade.&nbsp;
See Also: <a href="https://www.benzinga.com/money/a-cure-for-osteoarthritis-powered-by-everyday-investors-cytonics-is-looking-to-beat-big-pharma-and-disrupt-a-390-billion-market">Invest Where It Hurts — And Help Millions Heal: Invest in Cytonics and help disrupt a $390B Big Pharma stronghold.</a>
In a <a href="https://www.federalreserve.gov/newsevents/pressreleases/monetary20250507a.htm">statement</a> released after its latest policy meeting, the central bank said "uncertainty about the economic outlook has increased further." Powell in a press conference later&nbsp; emphasized that the U.S. economy is still in "solid shape" despite recent turbulence.
<h2 class="wp-block-heading">Cardone's Warnings About Economic Risks</h2>
However, Cardone argues that Powell's approach could be putting the U.S. economy at risk, particularly those facing some of the highest debt costs among developed nations.&nbsp;
He warned that Powell's stance might punish the middle class and threaten Trump's broader economic agenda. Cardone's concerns reflect a broader debate over whether the Fed's <a href="https://in.benzinga.com/etfs/specialty-etfs/25/01/42898157/feds-cautious-rate-cut-approach-boosts-appeal-of-these-3-etfs">cautious approach</a> to interest rates is slowing down the economy at a time when it needs support.
Additionally, the Fed's recent statement hinted at the <a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45269703/stagflation-emerges-as-key-economic-risk-to-federal-reserve-policy-economists-warn">potential for stagflation</a>, a challenging mix of high inflation and slow growth, which hasn't been a significant issue in the U.S. since the early 1980s. This scenario, if realized, could further complicate Trump's efforts to stabilize the economy through trade renegotiations and domestic production incentives.
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Grant Cardone Says Jerome Powell Is 'Antagonistic To Trump Administration,' Claims He Might Be Trying To Block Trump's Pro-Business Agenda

In a bid to reinvigorate its innovation engine,&nbsp;Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly gearing up for a significant year in 2027, with plans to introduce a range of groundbreaking devices and features.
Bloomberg&#8217;s&nbsp;Mark Gurman,&nbsp;in his&nbsp;<a href="https://www.bloomberg.com/news/newsletters/2025-05-11/apple-2027-plans-tabletop-robot-20th-anniversary-iphone-ios-19-wi-fi-feature?srnd=undefined&amp;sref=TBDibEcD">latest&nbsp;</a>weekly &#8220;Power On&#8221; shared that&nbsp;Apple&#8217;s 2027 product roadmap includes a foldable iPhone, smart glasses, and other novel devices. The tech giant is also developing&nbsp;an iOS 19 feature that&nbsp;will allow hotel Wi-Fi access details to be synced across devices.
Apple&#8217;s sales have been on a downward trajectory due to a dearth of revolutionary designs. iPhone sales are lower than they were two years ago, and Apple Watch revenue saw a 14% drop last year. 
The company is feeling the heat from Chinese competitors&nbsp;like Huawei Technologies Co. and&nbsp;Xiaomi Corp., which are making waves with their innovative foldable phones.
Eddy Cue, Apple&#8217;s Senior Vice President of Services, voiced concerns about the company&#8217;s future during a court testimony at Google&#8217;s antitrust trial. He cautioned that a lack of innovation could put Apple at a disadvantage against its competitors.
Also Read: <a href="https://www.benzinga.com/tech/25/04/45029758/apples-ai-team-undergoes-major-restructuring-amidst-performance-concerns">Apple&#8217;s AI Team Undergoes Major Restructuring Amidst Performance Concerns</a>
Despite the current challenges, Apple is plotting a product renaissance for 2027. The roadmap includes a foldable iPhone, smart glasses, and other new devices, writes Gurman. 
The company is also focusing on enhancing its AI capabilities with&nbsp;powerful new chips for its&nbsp;AI servers and a shift to a&nbsp;Siri digital assistant that relies&nbsp;on large language models.
Additionally, Apple plans to reduce its dependence on Google search by transitioning to AI-based results. 
Cue disclosed that&nbsp;Google search queries on Apple&nbsp;devices fell&nbsp;last month for the first&nbsp;time in 22 years, and the company is contemplating&nbsp;switching its Safari browser to&nbsp;an AI search system. 
This move could significantly alter the dynamics of the search engine market and further solidify Apple&#8217;s position in the tech industry.
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Image: Shutterstock/Akhenaton Images

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