Ten months after President Donald Trump returned to the White House promising a fossil fuel renaissance under the &#8216;Drill Baby Drill&#8217; mantra, the energy sector he pledged to <a href="https://www.benzinga.com/topic/donald-trump">supercharge is falling behind. </a>



The centerpiece of Trump's campaign was to revive oil and gas dominance by expanding domestic drilling, slashing green subsidies and positioning the U.S. as the top fossil fuel exporter. 



But that vision is colliding with harsh market realities: oil stocks are sliding, crude prices are tanking fast, and investor money is flowing into the very sector Trump aimed to sideline—clean energy.



Is the &#8220;Drill Baby Drill&#8221; dream falling apart?



<h2 class="wp-block-heading">Trump's Drill Baby Drill Mantra Hits A Wall As Energy Stocks Tumble</h2>



The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XLE">XLE</a>), the go-to ETF tracking large-cap oil and gas names, is flat in 2025—making it the worst-performing sector in the S&amp;P 500.



In relative terms versus the SPDR S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SPY">SPY</a>), energy stocks are now trading at levels last seen in January 2022.



It's a grim scene across the sector: the SPDR S&amp;P Oil &amp; Gas Exploration &amp; Production ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XOP">XOP</a>) has dropped more than 7% year-to-date, while the VanEck Oil Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/OIH">OIH</a>) is matching that decline.



Chart: XLE ETF Plunges To Near 4-Year Lows Against SPY



<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/2025/10/20120358/image-508-1024x556.png" alt="" class="wp-image-1122389" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/20120358/image-508-1024x556.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/20120358/image-508-300x163.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/20120358/image-508-768x417.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/20120358/image-508-1536x834.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/20120358/image-508-2048x1112.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h2 class="wp-block-heading">Meanwhile, Clean Energy Is Quietly Winning</h2>



As oil stumbles, clean energy has quietly staged a historic rally—effectively flipping investor expectations heading into Trump's pro-oil administration.



The Invesco Roundhill Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/PBW">PBW</a>) is up a staggering 67% this year, outperforming oil equities for seven straight months—the longest streak since January 2021.



This turnaround puts 2025 on track to snap a multi-year run of oil outperformance that began in 2021. 



Chart: Clean Energy Stocks Have Outperformed Oil Giants By 130% Since April 2025



<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/2025/10/20120954/image-510-1024x556.png" alt="" class="wp-image-1122396" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/20120954/image-510-1024x556.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/20120954/image-510-300x163.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/20120954/image-510-768x417.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/20120954/image-510-1536x834.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/20120954/image-510-2048x1112.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h2 class="wp-block-heading">Crude Hits $56, Eyes Lowest In Nearly 5 Years</h2>



As of Oct. 20, the price of West Texas Intermediate (WTI) crude sits at $56 a barrel, down 22% year-to-date and dangerously close to its lowest level since February 2021. 



In a note shared last week, Bank of America's Francisco Blanch tied the oil slump to OPEC+'s decision to increase quotas by 4 million barrels per day over 18 months starting in April 2025.



Although inventories in advanced economies remain tight, much of the excess supply is going straight into Chinese reserves. 



The market is also contending with renewed geopolitical tensions, including U.S. tariff threats against China and a defiant Iran resuming oil tracking transparency.



That effectively spells troubles for oil &amp; gas stocks. According to Colin Fenton of 22V Research, the price decline has already pushed crude below the U.S. marginal cost of new capital expenditures, forcing producers to cut rigs. U.S. rig counts have fallen by 70 since early April. 



"Cash crude prices are already in the $40s in Colorado and Kansas," he said, signaling that some producers are nearing operational losses.



At the same time, input costs for energy producers are rising. Fenton noted higher prices for steel, aluminum and copper are squeezing margins just as realized prices for oil plunge.



Jeff Jacobson of 22V Research highlighted a deteriorating technical setup for XOP, saying it recently broke below its 200-day moving average.



"If crude weakens toward $50 or equities broadly sell off, XOP could quickly ‘catch up' to crude's downside," he said, suggesting investors consider downside hedges like December put spreads.



Chart: Trump Said &#8216;Drill Baby Drill&#8217;, But Oil Rigs Are Shutting Down



<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/2025/10/20121628/image-512-1024x556.png" alt="" class="wp-image-1122406" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/20121628/image-512-1024x556.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/20121628/image-512-300x163.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/20121628/image-512-768x417.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/20121628/image-512-1536x834.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/20121628/image-512-2048x1112.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h2 class="wp-block-heading">Is Energy Cheap Enough To Buy Now?</h2>



Despite the gloom, valuations in the oil patch look historically attractive. 



The XLE ETF trades at just 14 times forward earnings—40% below the S&amp;P 500's 24x multiple. 



Only three of XLE's 22 components—Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/CVX">CVX</a>), Kinder Morgan Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/KMI">KMI</a>) and The Williams Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/WMB">WMB</a>)—have forward price-to-earnings ratios above 20x.



Notably, there are no XLE stocks trading above their median analyst price targets—suggesting that a fair amount of pessimism may already be baked into prices.



Devon Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/DVN">DVN</a>) stands out with a P/E of 8x and analyst targets implying a potential upside of 40% from current levels.



In short, Trump's energy dream hasn't just stalled—it's shifting into reverse. Oil is cheap, rigs are going offline, and paradoxically, investors are piling into renewables.



Whether energy stocks are a bargain opportunity or just another value trap remains a question only time—and prices—will answer.



Read now: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/10/48248689/exxonmobil-chevron-supplier-archrock-garners-attention-eyeing-superior-growth-gains">ExxonMobil, Chevron Supplier Archrock Garners Attention, Eyeing Superior Growth Gains </a></li>
</ul>



Photo: Shutterstock

Commodities

Trump's 'Drill Baby Drill' Plan Just Backfired—Oil Stocks Haven't Been This Cheap In Years

Streaming giant Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NFLX">NFLX</a>) no longer reports subscriber figures with its quarterly results, which could make management commentary on past and future content even more important in reading between the lines of how the company is keeping its current subscribers and trying to add more.



The company reports third-quarter financial results on Tuesday<a href="https://www.benzinga.com/earnings"> after market close.</a> Here are the earnings estimates, what analysts are saying, and key items to watch.



Earnings Estimates: Analysts expect Netflix to report third-quarter revenue of $11.51 billion, up from $9.82 billion in last year's third quarter, according to data <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent102025&amp;t=be2bearmibe3na1">from Benzinga Pro.</a>



The company has beaten analyst estimates for revenue in eight straight quarters.



Analysts expect Netflix to report third-quarter earnings per share of $6.97, up from $5.40 in last year's third quarter.



The company has beaten analyst estimates for earnings per share in six straight quarters and in nine of the last 10 quarters overall.



Guidance <a href="https://www.benzinga.com/trading-ideas/movers/25/07/46481193/netflix-q2-fueled-by-price-ads-squid-game-q3-set-to-repeat">from the company </a>calls for third-quarter revenue of $11.526 billion and for earnings per share of $6.87.



Read Also: <a href="https://www.benzinga.com/trading-ideas/movers/25/10/48299369/retail-investors-top-stocks-with-earnings-this-week-tesla-netflix-intel-and-more">Retail Investors&#8217; Top Stocks With Earnings This Week: Tesla, Netflix, Intel and More</a>



What Analysts Are Saying: A strong content lineup that included "KPop Demon Hunters" and several live sporting events could help the company match guidance, Bank of America Securities analyst Jessica Reif Ehrlich said in a <a href="https://www.benzinga.com/analyst-stock-ratings/price-target/25/10/48236457/netflixs-scale-should-protect-its-dominance-says-analyst">recent investor note.</a>



The analyst reiterated a Buy rating and $1,490 price target ahead of the quarterly results. Ehrlich sees subscriber momentum in the quarter coming from ad-supported plans and live events.



Ehrlich also highlighted Netflix's integration with Amazon.com in the fourth quarter, which will expand ad-buying options. The analyst said the integration could improve Netflix's ad demand.



Here are other <a href="https://www.benzinga.com/quote/NFLX/analyst-ratings">analyst ratings on Netflix </a>and their price targets:



<ul class="wp-block-list">
<li>Seaport Global: Upgraded from Neutral to Buy rating with price target of $1,385</li>



<li>Citigroup: Maintained Neutral rating, raised price target from $1,280 to $1,295</li>



<li>Loop Capital: Upgraded from Hold to Buy rating, raised price target from $1,150 to $1,350</li>
</ul>



Key Items to Watch: Netflix's third-quarter content slate included the highly successful "KPop Demon Hunters" movie, a second season of "Wednesday," several live events and the third season of "Squid Game," which came out with only a couple days left in the second quarter.



"KPop Demon Hunters," an animated kids&#8217; movie, is the streamer's <a href="https://www.benzinga.com/news/entertainment/25/08/47246611/the-reverse-netflix-kpop-demon-hunters-so-popular-it-gets-theater-release-after-streaming">most popular movie of all time </a>by viewers and was surprise smash hit in the quarter. The film has 325.1 million views and has ranked in the top 10 Netflix English-language films for 17 weeks.



Along with high viewership, the movie saw a short theatrical run for a sing-along version, has been a strong consumer products staple, has songs that topped the Billboard charts, and will likely see some of the most popular Halloween costumes for kids this year.



The film debuted on Netflix on June 20, which was in the second quarter, but the majority of the film's success will be in the third quarter.



It has been some time since a streaming release has had this much fanfare around it, dating back to the early days of the first season of "Squid Game" on Netflix.



While Netflix had a strong lineup of content in the third quarter, investors and analysts will want to hear more about the fourth-quarter lineup and what the company&#8217;s expectations are for revenue and subscriber growth.



The company has a fifth and final season of "Stranger Things" coming in the fourth quarter, and will also release two NFL games on Christmas Day. These items could be among the most viewed Netflix programs of 2025 and both come in the fourth quarter.



While Netflix doesn't break out subscriber figures or estimates, revenue growth in regions and overall along with updates on the overall health could signal higher membership figures. The company highlighted more members, higher pricing and higher advertising revenue as the reasons second-quarter revenue and operating margins were higher year-over-year.



Netflix's ad-supported plan is another big area where analysts will be focused, as this is one of the key growth catalysts for the company as subscriber growth matures. The company looks to boost revenue per subscriber.



The earnings report from Netflix also comes as the streaming giant faces pressure from billionaire Elon Musk and the Pentagon <a href="https://www.benzinga.com/news/politics/25/10/48289167/pentagon-elon-musk-vs-netflix-could-battle-against-woke-garbage-hurt-streaming-giants-stock">over content deemed "woke."</a> Musk called for his followers to "cancel Netflix," but that came well into the fourth quarter. Whether the company comments on subscriber strength, or if it&#8217;s seeing any high cancellation figures, remains to be seen.



NFLX Price Action: Netflix stock closed at $1,238.56 on Monday, up 3.3%. The stock has traded between $744.34 and $1,341.15 over the last 52 weeks. Netflix stock is up 39.7% year-to-date in 2025.



Read Next: 



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<li><a href="https://www.benzinga.com/news/entertainment/25/09/47855723/disney-raises-streaming-prices-is-disney-now-more-expensive-than-netflix">Disney Raises Streaming Prices: Is Disney+ Now More Expensive Than Netflix?</a></li>
</ul>



Image: Shutterstock

Entertainment

Previews

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NFLX

Netflix Q3 Earnings Preview: Will 'KPop Demon Hunters' Help Streamer Beat Estimates?

Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AMZN">AMZN</a>), Amazon Web Services confirmed a <a href="https://www.benzinga.com/topic/aws" target="_blank" rel="noopener">widespread operational disruption</a> on Monday that caused increased error rates and latency across multiple cloud services in its US-East-1 (Northern Virginia) region — the company's largest and most critical data hub.



At 12:11 a.m. PDT, AWS engineers began investigating the elevated error rates and latency affecting numerous services, including EC2, DynamoDB, Lambda, RDS, ECS, and Glue.



Within an hour, the company confirmed the issue stemmed from DNS resolution failures in DynamoDB's API endpoint, which impacted many dependent systems and global services such as IAM updates and <a target="_blank" href="https://health.aws.amazon.com/health/status" rel="noreferrer noopener">DynamoDB Global Tables</a>.



Also Read: <a target="_blank" href="https://www.benzinga.com/media/24/12/42269848/amazons-aws-ceo-teases-major-ai-advancements" rel="noreferrer noopener">Amazon&#8217;s AWS CEO Teases Major AI Advancements</a>



By 2:22 a.m. PDT, AWS had applied initial mitigations and began seeing "early signs of recovery." Customers were advised to retry failed requests as AWS worked to clear service backlogs.



At 3:35 a.m., AWS announced that it had fully mitigated the DNS issue, restoring most service operations to normal. However, new EC2 instance launches in some availability zones continued to face capacity-related errors as the company implemented additional recovery measures.



Between 4:00 and 6:00 a.m., AWS progressively restored full functionality across all impacted zones. Engineers re-enabled new EC2 instance launches, processed backlogs for EventBridge and CloudTrail, and normalized Lambda SQS event mapping.



The company advised customers to launch new EC2 instances without targeting a specific availability zone to allow AWS to select available capacity automatically. By 5:48 a.m. PDT, AWS confirmed steady progress and reported that "most requests are now succeeding."



The service interruption affected more than 70 AWS products and disrupted several major websites and applications globally. AWS stated that the issue was operational — not security-related — and that its engineering teams worked on "multiple parallel paths to accelerate recovery."



The outage rippled across industries, temporarily knocking out access to Amazon, Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/DIS">DIS</a>) Disney+, Lyft Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/LYFT">LYFT</a>), McDonald Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/MCD">MCD</a>) app, New York Times Company (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/NYT">NYT</a>), Reddit Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/RDDT">RDDT</a>), Ring, Robinhood Markets, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/HOOD">HOOD</a>), Snap Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SNAP">SNAP</a>) Snapchat, T-Mobile US, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TMUS">TMUS</a>), United Airlines Holdings, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/UAL">UAL</a>), Venmo, and Verizon Communications Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/VZ">VZ</a>), according to Downdetector, CNBC <a target="_blank" href="https://www.cnbc.com/2025/10/20/amazon-web-services-outage-takes-down-major-websites.html" rel="noreferrer noopener">reported</a>.



British government websites, including Gov.uk and HM Revenue and Customs, also went offline.



Lloyds Banking Group confirmed service interruptions.



Airline passengers with United and Delta Air Lines, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/DAL">DAL</a>) also reported difficulties checking in or accessing reservations.



Cloud-based platforms like Roblox Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/RBLX">RBLX</a>), Fortnite, Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/COIN">COIN</a>), Canva, and Perplexity AI all reported disruptions.



Price Action: AMZN stock is up 0.69% at $214.47 at last check on Monday.



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Photo: Shutterstock

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AMZN

COIN

HOOD

LYFT

RBLX

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SNAP

TMUS

Amazon Web Services Outage Knocks Major Websites Offline — Disney+, Reddit, McDonald's App, United Airlines Among Those Hit

Beverage giant The Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/KO">KO</a>) could show strong international sales growth and focus on new products and marketing initiatives when it reports third-quarter financial results before <a href="https://www.benzinga.com/earnings">market open Tuesday.</a>



Here are the earnings estimates from analysts and key items to watch.



<h2 class="wp-block-heading">Earnings Estimates</h2>



Analysts expect Coca-Cola to report third-quarter revenue of $12.39 billion, up from $11.85 billion in the year-earlier period, according to data <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent102025&amp;t=be2bearmibe3na1">from Benzinga Pro.</a> In the last 10 quarters, the company missed analyst estimates for revenue in two straight quarters, while beating them in eight.



Analysts expect Coca-Cola to report third-quarter earnings per share of 78 cents, up from 77 cents a year earlier.



The company has beaten analyst estimates for earnings per share in six straight quarters and in nine of the last 10 quarters overall. The lone non-beat in the last 10 quarters saw the company make consensus estimates.



It has been three quarters since Coca-Cola reported a double beat, exceeding analyst estimates for both earnings per share and revenue. Over the last 10 quarters, the company scored seven double beats.



<ul class="wp-block-list">
<li>Read Also: <a href="https://www.benzinga.com/trading-ideas/dividends/25/10/48300347/how-to-earn-500-a-month-from-coca-cola-stock-ahead-of-q3-earnings-2">How To Earn $500 A Month From Coca-Cola Stock Ahead Of Q3 Earnings</a></li>
</ul>



<h2 class="wp-block-heading">Key Items to Watch</h2>



Coca-Cola's quarterly results come weeks after rival beverage company PepsiCo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/PEP">PEP</a>) reported<a href="https://www.benzinga.com/markets/earnings/25/10/48120453/pepsico-signals-strong-pipeline-and-cost-discipline-driving-future-profit"> third-quarter numbers.</a>



Pepsi beat analyst estimates for both earnings per share and revenue and could make expectations high for Coca-Cola.



In <a href="https://www.benzinga.com/markets/earnings/25/07/46544443/higher-margins-sweeten-coca-colas-q2-yet-volume-struggles-persist">the second quarter,</a> Coca-Cola saw overall net revenue up by 1% to $12.5 billion. The April-June period was boosted by higher prices and product mix.



Coca-Cola saw unit case volume down in several key regions, while reporting growth in China and Central Asia. Analysts and investors will be looking for strength in the company's international markets during the quarter.



The company's Coca-Cola Zero Sugar brand continues to be a bright spot, seeing growth in all geographic operating segments.



Non-carbonated beverages like water, sports drinks, coffee and tea will be another area for investors to watch with these segments seeing growth in some regions and declines in others.



New products and marketing initiatives could be another item to watch with the company saying it planned to launch a new U.S. cane sugar-based beverage in the U.S.



<h2 class="wp-block-heading">Warren Buffett, Pepsi</h2>



Coca-Cola is one of the largest consumer products companies in the world and the quarterly results could provide an update on how consumer spending is trending in many parts of the world.



The stock is one of the 30 members of the Dow Jones Industrial Average, a key market index. Due to its lower share price, Coca-Cola is one of the lowest weighted stocks in the price-weighted index, which is tracked by the SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/DIA">DIA</a>).



One investor who will be paying particularly close attention to Coca-Cola's report is Warren Buffett, CEO of Berkshire Hathaway Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/BRK">BRK</a>)(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/BRK">BRK</a>).



Berkshire <a href="https://www.benzinga.com/trading-ideas/long-ideas/25/08/47161924/warren-buffetts-top-10-berkshire-bets-span-apple-coca-cola-finance-and-oil">owns 400 million shares</a> of the beverage giant, or around 9.3% of the company, according to <a href="https://www.cnbc.com/berkshire-hathaway-portfolio/">CNBC</a>. That&#8217;s the fourth largest position in the Berkshire Hathaway investment portfolio, representing around 8.9% of the portfolio.



Pepsi reiterated their guidance after the latest earnings report. Coca-Cola previously narrowed its outlook for the better for earnings per share while keeping its organic revenue goal of 5% to 6% for the full year in place. Investors and analysts will be paying close attention to guidance.



KO, PEP Price Action: Coca-Cola stock trade at $68.41 on Monday versus a 52-week trading range of $60.62 to $74.38. Coca-Cola stock is up 10.6% year-to-date in 2025 with the stock up 3.3% over the last month.



PepsiCo shares trade at $153.41 on Monday versus a 52-week trading range of $127.60 to $177.50. PepsiCo stock is up 2.1% year-to-date in 2025, underperforming Coca-Cola. Pepsi stock is up 8.8% over the last month, getting a boost from earnings to help outperform Coca-Cola in the last 30 days.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/movers/25/10/48299369/retail-investors-top-stocks-with-earnings-this-week-tesla-netflix-intel-and-more">Retail Investors&#8217; Top Stocks With Earnings This Week: Tesla, Netflix, Intel and More</a></li>
</ul>



Image: Shutterstock

Earnings

Equities

Coca-Cola Q3 Preview: Will Warren Buffett's Favorite Beverage Stock Post A Double Beat?

Nvidia Corp's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NVDA">NVDA</a>) <a href="https://www.benzinga.com/markets/tech/25/10/48291362/jensen-huang-says-nvidia-went-from-95-market-share-to-0-in-china-i-think-its-a-mistake-for-us-not-to">exit from China</a> has been framed as a policy-driven blow, but AI-focused investors may view it as a chance for the company to double down on high-margin opportunities elsewhere. 



Last week, CEO Jensen Huang noted the company went from 95% market share in China to zero — a huge market loss on paper. <a href="https://www.benzinga.com/markets/earnings/25/08/47371649/nvidia-q2-earnings-highlights-double-beat-60b-share-buyback-huang-says-ai-race-is-on" target="_blank" rel="noreferrer noopener">Nvidia&#8217;s financial forecasts</a> no longer assume any revenue from China, he added.



<ul class="wp-block-list">
<li>Track NVDA stock <a href="https://www.benzinga.com/quote/NVDA">here</a>.</li>
</ul>



Yet the real story lies in where Nvidia is channeling its resources now: into AI data centers, enterprise GPUs, and cloud partnerships that are driving unprecedented demand.



Read Also: <a href="https://www.benzinga.com/markets/tech/25/08/47240385/nvidia-silicon-silk-road-from-china-firewalls-to-saudi-arabia-data-palaces">Nvidia&#8217;s Silicon Silk Road: From China&#8217;s Firewalls To Saudi Arabia&#8217;s Data Palaces</a>



<h2 class="wp-block-heading">Shifting Focus From Volume To Profitability</h2>



China represented scale, but not necessarily the high-margin growth that powers Nvidia's AI leadership. Freed from the geopolitical and compliance challenges of the Chinese market, Nvidia can now focus on premium AI chips, enterprise deployments, and U.S.-friendly cloud partnerships.



Investors should see this as a reallocation of capital from politically constrained volume to sectors where Nvidia can capture pricing power and strong margins, a subtle but meaningful shift in strategy.



<h2 class="wp-block-heading">Supply Chains That Align With AI Growth</h2>



The China exit also forces Nvidia to realign its supply chains and production priorities. By focusing on countries and partners aligned with Western technology policies, Nvidia reduces regulatory risk and ensures faster deployment of AI-focused GPUs to hyperscale cloud providers — the very engines of AI revenue growth. 



In other words, what looks like a market loss is actually an operational pivot toward the fastest-growing and most profitable segments of the AI market.



<h2 class="wp-block-heading">The Investor Takeaway</h2>



Nvidia's zero exposure to China is headline-grabbing, but the real implication is about strategic prioritization. By trading geographic scale for profit-focused AI growth, Nvidia is betting on sectors with stronger pricing power, less political risk, and higher margins. 



For investors, the lesson is clear: sometimes policy costs aren't a loss — they're a forced lens that sharpens focus on where the money actually is in AI.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/10/48155217/nvidia-doubled-its-trillions-charts-scream-more">Nvidia Doubled Its Trillions In Months—And The Charts Are Screaming &#8216;More&#8217;</a></li>
</ul>



Image: Shutterstock

Long Ideas

NVDA

Nvidia's $0 In China Could Be A Blessing In Disguise

Fresh fears of mounting credit stress in the U.S. banking system have resurfaced after JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/JPM">JPM</a>) CEO Jamie Dimon issued a stark warning that more financial trouble could be<a href="https://www.benzinga.com/topic/banks"> lurking below the surface. </a>



"When you see one cockroach, there are probably more," Dimon said during last week's earnings call, referring to the recent bankruptcies of First Brands—an auto parts maker reportedly under criminal investigation—and Tricolor Holdings, a subprime auto lender. 



On Wednesday, just a day after Dimon&#8217;s warning, concerns deepened as Zions Bancorporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ZION">ZION</a>) disclosed a $50 million charge-off tied to two troubled commercial loans from its California Bank &amp; Trust unit. 



A day later, Western Alliance Bancorporation (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/WAL">WAL</a>) revealed it had filed a fraud lawsuit against a borrower, adding to the sector's unease. 



Now, with regional banks and private equity showing signs of strain, Wall Street is bracing for what could be the next major shock to markets.



<h2 class="wp-block-heading">Why Treasury Bonds Could Make A Comeback As Liquidity Tightens</h2>



While many analysts believe these credit issues remain contained, the broader market may still be vulnerable—not because of credit exposure, but because of liquidity.



Savita Subramanian, head of U.S. equity strategy at Bank of America, says regulated banks today are better capitalized and less likely to spark a full-blown credit crisis. 



However, she cautions that the S&amp;P 500&#8217;s high concentration in a few large-cap tech names could make it more sensitive to liquidity shocks.



That's echoed by Michael Hartnett, chief investment strategist at Bank of America. In a recent note, he warned that &#8220;Krunchy Kredit&#8221; cracks are spreading, pointing to weakness in the SPDR Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/KRE">KRE</a>), private credit, and the SPDR Insurance ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/KIE">KIE</a>). 



He added that if key financial benchmarks drop below critical levels, the Fed could be forced to cut more aggressively.



Hartnett is also turning bullish on bonds, suggesting that zero-coupon U.S. Treasuries could be the best hedge for credit event risk, with long-dated yields expected to fall below 4% amid Fed easing and global policy shifts away from quantitative tightening.



The PIMCO 25+ Year Zero Coupon US Treasury Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ZROZ">ZROZ</a>) and the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TLT">TLT</a>) are up 3.5% and 2.5%, respectively, thus far this month.



<h2 class="wp-block-heading">Analysts Also Flag Russell 2000 Puts</h2>



According to Jeff Jacobson, analyst at 22V Research, buying put options on small-cap stocks—tracked by the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/IWM">IWM</a>)—may be the best hedge if credit stress continues. 



IWM has traditionally had a strong correlation with regional banks (KRE) and private credit, both of which are flashing warning signs. 



Jacobson highlighted that while IWM outperformed both the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SPY">SPY</a>) and Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/QQQ">QQQ</a>) between August and mid-October, much of that gain was driven by capital goods, health care, software, tech, and utilities. 



At the same time, unprofitable small caps have outperformed their profitable peers—possibly a sign of speculative AI-related flows entering riskier territory. 



This divergence, he notes, could leave IWM vulnerable to a snapback if credit fears deepen and speculative excess unwinds.



<h2 class="wp-block-heading">Bottom Line: How to Protect Your Portfolio</h2>



As credit risks resurface—particularly in mid-sized banks and private credit markets—investors should stay on alert.



Key financial benchmarks like KRE ETF, the Financials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XLF">XLF</a>), and KIE ETF can offer early signals of deeper stress in the system, and watching their movements may help identify mounting pressure in the sector. 



Long-duration Treasury bonds are increasingly viewed as potential hedges in the event of a broader liquidity stress, offering both safety and potential upside if yields fall further.



So far, the damage has been limited to a few lenders. 



But if Dimon's "cockroach" metaphor proves accurate, the market may not be fully priced for what's still hiding in the shadows.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/movers/25/10/48299369/retail-investors-top-stocks-with-earnings-this-week-tesla-netflix-intel-and-more">Retail Investors&#8217; Top Stocks With Earnings This Week: Tesla, Netflix, Intel and More</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: lev radin / Shutterstock.com

Large Cap

Mid Cap

Sector ETFs

ETFs

ZION

ZROZ

Dimon Sees 'Cockroaches' In Banks—Here's How To Protect Your Portfolio

China's long-struggling economy is showing fresh signs of distress, as exports to the United States collapse under President Donald Trump's tariffs and the property market fails to <a href="https://www.benzinga.com/topic/china">mount a meaningful recovery. </a>



According to United Nations Comtrade data, China shipped $35.88 billion worth of goods to the U.S. in July 2025, a staggering 22% drop from the $45.83 billion exported in the same month last year. 



<h2 class="wp-block-heading">Trump&#8217;s Tariffs Bite as China&#8217;s Export Machine Slows Down</h2>



China's tech exports have been decimated. Shipments of smartphones to the U.S. plummeted from $2.3 billion in July 2024 to just $534 million this July—a 77% collapse. 



Laptop exports fared no better, falling from $3.7 billion to $1.69 billion in the same period.



Even traditionally resilient segments like toys and games saw year-over-year declines. Exports in that category dropped from $3.1 billion to $2.3 billion.



These drops coincide with a spike in tariffs. 



Unlike Europe, where a 10% stronger euro played a role in weakening export flows to the U.S., China&#8217;s export slump stems almost entirely from tariff impacts. 



The Chinese yuan has remained stable against the U.S. dollar, down just 1.5% year-over-year, suggesting minimal currency impact.



As of October 2025, tariffs on Chinese products currently stand at 30%, and President Trump threatened to add a further 100% starting Nov. 1. In 2024, Chinese exporters to the U.S. faced an average tariff rate of just 10.9%.



<h2 class="wp-block-heading">China's Economic Growth Falters </h2>



The export slump is just one layer of Beijing's current economic challenge. 



China's gross domestic product grew 4.8% year-over-year in the third quarter, down from 5.2% in the second quarter. That marks the slowest pace of expansion since the third quarter of 2024 and underscores how the country's recovery has lost momentum despite targeted stimulus and support measures.



The slowdown aligns with market expectations but highlights the strain from multiple economic pressures: shrinking exports, soft household spending, and a seemingly endless real estate crisis.



Consumer spending remains soft despite ongoing efforts by Beijing to stimulate demand. Retail sales rose in September by 3% year-over-year but at the slowest pace in over a year. Unemployment ticked slightly lower but still hovered near a six-month high, weighing on consumer confidence and spending.



China's property sector, once the backbone of its economy, remains in the red. According to the National Bureau of Statistics, primary home prices across 70 major cities fell 2.7% month-over-month, annualized in September.



The downturn was broad-based across all city tiers. Secondary home prices—tracked by the same agency and third-party platforms—have seen much steeper annual declines, ranging from 5% to as much as 20% depending on the region.



<h2 class="wp-block-heading">Chinese Tech Stocks Pullback</h2>



The fallout from China's slowing economy, collapsing export machine and the threat of even higher U.S. tariffs is wreaking havoc on Chinese tech stocks. 



So far in October, the Invesco China Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/CQQQ">CQQQ</a>) has dropped 8%, pacing for its worst monthly performance since January 2024. 



New York-listed shares of Baidu Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/BIDU">BIDU</a>) are down nearly 9% this month, while Alibaba Group Holding Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/BABA">BABA</a>) has fallen 7%.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/macro-economic-events/25/10/48295749/chinas-rare-earth-policy-could-backfire-warn-analysts-while-highlighting-options-available-to-trump-beijing-may-find-itself-cut-off">China&#8217;s Rare Earth Policy Could &#8216;Backfire&#8217;, Warn Analysts While Highlighting Options Available To Trump: Beijing &#8216;May Find Itself Cut Off…&#8217; </a></li>
</ul>



Photo: Shutterstock

Asia

Macro Economic Events

Specialty ETFs

Global

Econ #s

Economics

BABA

BIDU

CQQQ

China's Growth Engine Is Sputtering—And Trump's Tariffs Are To Blame

<h2 class="wp-block-heading">Earnings Playbook for the Week Ahead</h2>



Retail investors are preparing for the first busy week in the third-quarter earnings season, with major defense contractors and other<a href="https://www.benzinga.com/markets/equities/25/10/48292220/tesla-palantir-jpmorgan-and-more-heres-why-investors-couldnt-stop-talking-about-these-stocks-this-week"> top stocks reporting.</a>



Here's a look at some retail favorites that individual investors will be watching.



<ul class="wp-block-list">
<li>&nbsp;TSLA stock is moving. <a href="https://www.benzinga.com/quote/TSLA">See the real-time price action here.&nbsp;</a></li>
</ul>



<h2 class="wp-block-heading">Monday, Oct. 20</h2>



<h3 class="wp-block-heading">Before Market Open&nbsp;</h3>



Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/CLF">CLF</a>)​ and Summit Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/SMMT">SMMT</a>)​ will kick off the week with their earnings releases before Monday's opening bell.&nbsp;



Read Next: <a href="https://www.benzinga.com/news/25/10/48294104/move-over-musk-the-worlds-richest-woman-joined-the-100b-club">Move Over, Musk—The World&#8217;s Richest Woman Joined the $100B Club</a>



<h3 class="wp-block-heading">After Market Close</h3>



AGNC Investment Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AGNC">AGNC</a>)​ and Zions Bancorporation N.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ZION">ZION</a>)​ are set to report following Monday's closing bell.&nbsp;



<h2 class="wp-block-heading">Tuesday, Oct. 21</h2>



<h3 class="wp-block-heading">Before Market Open</h3>



Several major government contractors will report before the market opens on Tuesday, including GE Aerospace (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/GE">GE</a>)​, Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/LMT">LMT</a>)​, RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/RTX">RTX</a>)​ and Halliburton Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/HAL">HAL</a>)​



One of the Big Three automakers General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/GM">GM</a>)​ is set to report before Tuesday's opening bell. Analysts expect the company to report earnings of $2.31 per share and revenue of $45.27 billion, according to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>. 



Tuesday morning will also feature releases from The Coca-Cola Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/KO">KO</a>)​, 3M Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/MMM">MMM</a>)​ and Galaxy Digital Holdings Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/GLXY">GLXY</a>).&nbsp;



<h3 class="wp-block-heading">​After Market Close</h3>



Streaming giant Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NFLX">NFLX</a>)​ is set to release its Q3 earnings report after Tuesday's closing bell. The Street is looking for earnings $6.97 per share on revenue of $11.51 billion for the quarter.&nbsp;



Intuitive Surgical Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ISRG">ISRG</a>)​ and Texas Instruments Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TXN">TXN</a>)​ will also report after Tuesday's market close.&nbsp;



Read Next: <a href="https://www.benzinga.com/trading-ideas/movers/25/10/48175980/usa-rare-earth-critical-metals-stocks-explode-jpmorgan-adds-fuel-to-the-fire">USA Rare Earth, Critical Metals Stocks Explode—JPMorgan Adds Fuel To The Fire</a>



<h2 class="wp-block-heading">Wednesday, Oct. 22</h2>



<h3 class="wp-block-heading">Before Market Open</h3>



AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/T">T</a>)​ and Vertiv Holdings Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/VRT">VRT</a>)​ are set to report ahead of Wednesday's opening bell.&nbsp;



<h3 class="wp-block-heading">After Market Close</h3>



Elon Musk's Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TSLA">TSLA</a>)​ is the biggest name reporting after the close on Wednesday. Analysts expect the EV maker to report quarterly earnings of 53 cents per share on revenue of $26.16 billion.&nbsp;



Investors will be watching for updates on new vehicle models, progress with the Robotaxi initiative and commentary on sales momentum following the expiration of EV tax credits.&nbsp;



QuantumScape Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/QS">QS</a>)​ is another retail darling that will report after the closing bell along with International Business Machines Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/IBM">IBM</a>)​, Southwest Airlines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/LUV">LUV</a>)​ and Viking Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/VKTX">VKTX</a>)​.&nbsp;



<h2 class="wp-block-heading">Thursday, Oct. 23</h2>



<h3 class="wp-block-heading">Before Market Open</h3>



American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AAL">AAL</a>)​, Nokia Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/NOK">NOK</a>)​, Mobileye Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MBLY">MBLY</a>)​ and Valero Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/VLO">VLO</a>)​ will report before the opening on Thursday. 



<h3 class="wp-block-heading">After Market Close</h3>



Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/INTC">INTC</a>)​ will likely be the most-watched report coming after Thursday's closing bell.&nbsp;



The market will focus on updates to Intel&#8217;s AI and foundry strategies, with Wall Street sentiment cautious due to persistent production delays and recent business shifts despite strong stock performance following investment from the federal government.



Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/F">F</a>)​ and Alaska Air Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ALK">ALK</a>)​ will also report after Thursday's market close.&nbsp;



<h2 class="wp-block-heading">Friday, Oct. 24</h2>



<h3 class="wp-block-heading">Before Market Open</h3>



Procter &amp; Gamble Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/PG">PG</a>)​, General Dynamics Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/GD">GD</a>)​ , and HCA Healthcare Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/HCA">HCA</a>) will close out the week, all reporting before Friday's opening bell. 



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="http://benzinga.com/trading-ideas/movers/25/10/48179585/rigetti-d-wave-ionq-could-get-jpmorgans-support-quantum-stocks-take-off">Rigetti, D-Wave, IonQ Could Get JPMorgan&#8217;s Support—Quantum Stocks Take Off</a></li>
</ul>



Photo: Shutterstock

Movers

AGNC

GLXY

INTC

ISRG

MBLY

SMMT

TSLA

VKTX

Retail Investors' Top Stocks With Earnings This Week: Tesla, Netflix, Intel and More

While the world is focused on the race for faster AI chips, the true bottleneck for the industry&#8217;s explosive growth is rapidly becoming power, according to a leading tech analyst from I/O Fund, Beth Kindig.



<h2 class="wp-block-heading">Energy Sector: The Next AI Investment Frontier</h2>



On Sunday, Kindig reshared a snippet from an old interview with <a href="https://www.youtube.com/watch?v=rlfePj07swA">Wealthion</a>, which originally aired on August 29, highlighting that the immense energy demands of next-generation GPUs will drive &#8220;at least 10x growth&#8221; for strategically chosen energy stocks, making the sector the next major AI investment frontier.



She highlighted that her firm began moving into AI networking nearly a year ago and is now in the &#8220;early stages of moving into energy.&#8221; This shift is driven by big tech companies &#8220;gobbling up whatever alternative power they can find&#8221; to fuel their burgeoning AI infrastructure.



The analyst pointed to Nvidia Corp.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NVDA">NVDA</a>) upcoming Blackwell platform as a critical inflection point. &#8220;Blackwell is about 100 kilowatts more or less… it&#8217;s breaking through 100 kilowatts, could be 140 kilowatts,&#8221; Kindig explained.



She projected that by the end of the decade, GPU energy requirements would reach 1 megawatt, representing a staggering tenfold increase in power demand. This escalating need creates an urgent and compelling opportunity for investors in the energy sector.



<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">We've now seen what Nvidia's bottleneck is – power. Below, I discuss why this is the case and what it means for <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NVDA</a> and AI investors. <a href="https://twitter.com/wealthion?ref_src=twsrc%5Etfw">@wealthion</a> <a href="https://twitter.com/maggielake?ref_src=twsrc%5Etfw">@maggielake</a> <a href="https://t.co/SYrhsdDFoT">pic.twitter.com/SYrhsdDFoT</a>&mdash; Beth Kindig (@Beth_Kindig) <a href="https://twitter.com/Beth_Kindig/status/1980003871935127647?ref_src=twsrc%5Etfw">October 19, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h2 class="wp-block-heading">Nvidia&#8217;s Next Ruben Chip Will Trigger An AI Power Crisis</h2>



Kindig warned that without an adequate power supply, the &#8220;extremely expensive systems&#8221; like multi-billion-dollar GPU racks would &#8220;have to sit on the shelf or stagnant.&#8221;



She emphasized that major tech players, which she dubs &#8220;neo clouds,&#8221; are thinking a year or two in advance, proactively securing power to avoid future bottlenecks.



Looking further ahead, Kindig believes Nvidia&#8217;s &#8220;Ruben&#8221; chip, anticipated in the next one to two years and projected to be 3 to 5 times more powerful than current systems, could trigger &#8220;serious problems&#8221; for the power grid.



This foresight, she suggests, is why companies are accumulating power resources now, even as the broader energy sector is currently &#8220;pretty beat down&#8221; and out of favor with investors.



See Also: <a href="https://www.benzinga.com/markets/tech/25/10/48248628/jeff-bezos-touts-data-centers-in-space-as-samsung-and-openai-plan-floating-data-centers-in-the-ocean">Jeff Bezos Touts Data Centers In Space As Samsung And OpenAI Plan Floating Data Centers In The Ocean</a>



<h2 class="wp-block-heading">Solution For Energy Crisis Solutions In Space And In The Ocean?</h2>



The growing energy crisis in AI has prompted other tech visionaries to propose unconventional solutions.



OpenAI and Samsung are reportedly collaborating on <a href="https://www.benzinga.com/markets/tech/25/10/47968429/openai-taps-samsung-and-sk-hynix-for-massive-ai-data-push-including-new-korea-data-center">floating data centers</a> in the ocean, aiming to leverage cold seawater for efficient cooling, a process that can account for up to 40% of a land-based data center&#8217;s power consumption. This maritime approach is estimated to <a href="https://www.benzinga.com/markets/tech/25/10/48248628/jeff-bezos-touts-data-centers-in-space-as-samsung-and-openai-plan-floating-data-centers-in-the-ocean">cut total energy </a>use by up to 70%.



Meanwhile, Amazon founder Jeff Bezos and venture capitalist Chamath Palihapitiya have even touted the concept of placing <a href="https://www.benzinga.com/markets/tech/25/10/48032682/jeff-bezos-predicts-gigawatt-scale-orbital-data-centers-in-10-20-years-compares-ai-boom-to-early-2000s-dot-com-era">data centers in orbit</a> to harness limitless solar power and the natural vacuum of <a href="https://www.benzinga.com/markets/equities/25/10/48036166/chamath-palihapitiya-warns-ai-push-by-googl-meta-msft-and-amzn-using-nvda-chips-could-double-ele">space for cooling</a>, predicting these orbital facilities could become cost-competitive within two decades.



<h2 class="wp-block-heading">Investors Bet On Nuclear Energy In 2025</h2>



While Kindig suggests focusing on energy investments, the broader energy exchange-traded funds have underperformed this year, while nuclear energy ETFs have had a stellar performance.



This also comes as industry veterans like Cathie Wood have highlighted that nuclear energy can potentially emerge as the <a href="https://www.benzinga.com/general/market-summary/25/05/45541408/cathie-woods-ark-invest-says-nuclear-energy-could-overtake-solar-as-cheapest-power-source-heres-a-list-of-nuclear-energy-linked-etfs-to-consider">lowest-cost source of electricity</a>, outcompeting solar. 



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Energy Sector ETFs</td><td>YTD Performance</td><td>One Year Performance</td></tr><tr><td>Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XLE">XLE</a>)</td><td>-0.78%</td><td>-4.54%</td></tr><tr><td>Vanguard Energy Index Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/VDE">VDE</a>)</td><td>-1.16%</td><td>-3.43%</td></tr><tr><td>Fidelity MSCI Energy Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/FENY">FENY</a>)</td><td>-1.32%</td><td>-3.48%</td></tr><tr><td>iShares Global Clean Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ICLN">ICLN</a>)</td><td>42.50%</td><td>23.82%</td></tr><tr><td>Alerian MLP ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/AMLP">AMLP</a>)</td><td>-6.34%</td><td>-2.25%</td></tr><tr><td>First Trust Natural Gas ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/FCG">FCG</a>)</td><td>-12.58%</td><td>-8.85%</td></tr><tr><td>VanEck Oil Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/OIH">OIH</a>)</td><td>-8.91%</td><td>-10.22%</td></tr></tbody></table></figure>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Nuclear Energy Linked ETFs</td><td>YTD Performance</td><td>One Year Performance</td></tr><tr><td>VanEck Uranium and Nuclear ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/NLR">NLR</a>)</td><td>79.21%</td><td>56.67%</td></tr><tr><td>Sprott Uranium Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/URNM">URNM</a>)</td><td>37.97%</td><td>13.76%</td></tr><tr><td>Range Nuclear Renaissance Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/NUKZ">NUKZ</a>)</td><td>68.07%</td><td>60.65%</td></tr><tr><td>Themes Uranium &amp; Nuclear ETF (BATS:<a class="ticker" href="https://www.benzinga.com/quote/URAN">URAN</a>)</td><td>63.08%</td><td>44.24%</td></tr></tbody></table></figure>



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/general/market-summary/25/05/45541408/cathie-woods-ark-invest-says-nuclear-energy-could-overtake-solar-as-cheapest-power-source-heres-a-list-of-nuclear-energy-linked-etfs-to-consider">Cathie Wood&#8217;s Ark Invest Says Nuclear Energy Could Overtake Solar As Cheapest Power Source: Here&#8217;s A List Of Nuclear Energy Linked ETFs To Consider</a></li>
</ul>



Photo: Hepha1st0s On Shutterstock.com Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



<a href="https://www.benzinga.com/general/market-summary/25/05/45541408/cathie-woods-ark-invest-says-nuclear-energy-could-overtake-solar-as-cheapest-power-source-heres-a-list-of-nuclear-energy-linked-etfs-to-consider"> </a>

Government

Market Summary

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AMLP

FENY

ICLN

NUKZ

URAN

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Nvidia's Real 'Bottleneck' Isn't Chips, It's Power, Says Beth Kindig, Tech Analyst Shares What It Means For AI Investors

U.S. stock futures rose on Monday following Friday&#8217;s advances. Futures of major benchmark indices were higher.



On Sunday, President Donald Trump again warned that the U.S. economy would face significant challenges if the Supreme Court <a href="https://www.benzinga.com/markets/macro-economic-events/25/10/48295327/trump-warns-supreme-court-tariff-ruling-could-literally-destroy-the-us-well-be-stru">rules against the majority</a> of the tariffs imposed this year.



Investors will watch out for major earnings this week, which includes Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TSLA">TSLA</a>), Intel Corp. (NASDAQ INTC), Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NFLX">NFLX</a>), Coca-Cola Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/KO">KO</a>) and Procter &amp; Gamble Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/PG">PG</a>)



Meanwhile, the 10-year Treasury bond yielded 4.01% and the two-year bond was at 3.47%. 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 a 98.9% likelihood of the Federal Reserve cutting the current interest rates in its October meeting. 



<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>0.18%</td></tr><tr><td>S&amp;P 500</td><td>0.25%</td></tr><tr><td>Nasdaq 100</td><td>0.32%</td></tr><tr><td>Russell 2000</td><td>0.66%</td></tr></tbody></table></figure>



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SPY">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/QQQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, rose in premarket on Monday. The SPY was up 0.21% at $665.81, while the QQQ advanced 0.34% to $605.98, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



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



<h2 class="wp-block-heading">Cleveland-Cliffs</h2>



<ul class="wp-block-list">
<li>Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/CLF">CLF</a>) rose 1.13% in premarket on Monday as analysts expect it to report a quarterly loss at 48 cents per share on revenue of $4.90 billion before the opening bell.</li>
</ul>



<ul class="wp-block-list">
<li>CLF maintained a stronger price trend over the short, medium, and long terms, with a poor growth ranking, as per Benzinga&#8217;s Edge Stock Rankings. Additional performance details are <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here.</a></li>
</ul>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="159" src="https://editorial.benzinga.com/wp-content/uploads/2025/10/CLF-EDGE-1024x159.png" alt="Benzinga's Edge Stock Rankings for CLF. " class="wp-image-1121704" srcset="https://editorial.benzinga.com/wp-content/uploads/2025/10/CLF-EDGE-1024x159.png 1024w,https://editorial.benzinga.com/wp-content/uploads/2025/10/CLF-EDGE-300x47.png 300w,https://editorial.benzinga.com/wp-content/uploads/2025/10/CLF-EDGE-768x120.png 768w,https://editorial.benzinga.com/wp-content/uploads/2025/10/CLF-EDGE.png 1156w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h2 class="wp-block-heading">Micron Technology</h2>



<ul class="wp-block-list">
<li>Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MU">MU</a>) was up 3.27% following a Reuters report that the company will stop providing server chips to data centers in China.</li>
</ul>



<ul class="wp-block-list">
<li>Benzinga&#8217;s Edge Stock Rankings indicate that MU had a stronger price trend over the short, medium, and long terms, with a strong quality score. Additional performance details are <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here.</a></li>
</ul>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="158" src="https://editorial.benzinga.com/wp-content/uploads/2025/10/MU-EDGE-1024x158.png" alt="Benzinga's Edge Stock Rankings for MU. " class="wp-image-1121703" srcset="https://editorial.benzinga.com/wp-content/uploads/2025/10/MU-EDGE-1024x158.png 1024w,https://editorial.benzinga.com/wp-content/uploads/2025/10/MU-EDGE-300x46.png 300w,https://editorial.benzinga.com/wp-content/uploads/2025/10/MU-EDGE-768x118.png 768w,https://editorial.benzinga.com/wp-content/uploads/2025/10/MU-EDGE.png 1149w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



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



<ul class="wp-block-list">
<li>Moderna Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MRNA">MRNA</a>) was 0.65% higher after the government&#8217;s renewed national immunization strategy to combat rising COVID-19 variants.</li>
</ul>



<ul class="wp-block-list">
<li>MRNA maintained a strong price trend over the short term but weaker trend in the medium and long terms, as per Benzinga&#8217;s Edge Stock Rankings. Additional information is <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here.</a></li>
</ul>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="161" src="https://editorial.benzinga.com/wp-content/uploads/2025/10/MRNA-EDGE-1-1024x161.png" alt="Benzinga's Edge Stock Rankings for MRNA. " class="wp-image-1121717" srcset="https://editorial.benzinga.com/wp-content/uploads/2025/10/MRNA-EDGE-1-1024x161.png 1024w,https://editorial.benzinga.com/wp-content/uploads/2025/10/MRNA-EDGE-1-300x47.png 300w,https://editorial.benzinga.com/wp-content/uploads/2025/10/MRNA-EDGE-1-768x121.png 768w,https://editorial.benzinga.com/wp-content/uploads/2025/10/MRNA-EDGE-1.png 1150w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h2 class="wp-block-heading">Bitmine Immersion Technologies</h2>



<ul class="wp-block-list">
<li>Bitmine Immersion Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/BMNR">BMNR</a>) jumped 6.10% after the co-founder and CEO Tom Lee announced that the digital asset treasury (DAT) firm will be launching a staking solution "very soon."</li>
</ul>



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="755" height="111" src="https://editorial.benzinga.com/wp-content/uploads/2025/10/Screenshot-2025-10-20-at-14.42.12-2.png" alt="" class="wp-image-1121743" srcset="https://editorial.benzinga.com/wp-content/uploads/2025/10/Screenshot-2025-10-20-at-14.42.12-2.png 755w,https://editorial.benzinga.com/wp-content/uploads/2025/10/Screenshot-2025-10-20-at-14.42.12-2-300x44.png 300w" sizes="(max-width: 755px) 100vw, 755px" /></a></figure>



<h2 class="wp-block-heading">Coinbase Global</h2>



<ul class="wp-block-list">
<li>Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/COIN">COIN</a>) shares advanced 3.58% after the company unveiled an all-in-one financial platform for small and medium businesses, enabling them to receive crypto, manage assets, and earn up to 4.1% APY on USDC stablecoins.</li>
</ul>



<ul class="wp-block-list">
<li>COIN maintained a stronger price trend over short, medium, and long terms, with a poor value ranking. Additional performance details, as per Benzinga&#8217;s Edge Stock Rankings, are <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here.</a></li>
</ul>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="161" src="https://editorial.benzinga.com/wp-content/uploads/2025/10/COIN-EDGE-1024x161.png" alt="Benzinga's Edge Stock Rankings for COIN. " class="wp-image-1121701" srcset="https://editorial.benzinga.com/wp-content/uploads/2025/10/COIN-EDGE-1024x161.png 1024w,https://editorial.benzinga.com/wp-content/uploads/2025/10/COIN-EDGE-300x47.png 300w,https://editorial.benzinga.com/wp-content/uploads/2025/10/COIN-EDGE-768x121.png 768w,https://editorial.benzinga.com/wp-content/uploads/2025/10/COIN-EDGE.png 1153w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



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



The market ended on a broadly positive note on Friday, with most sectors finishing higher. Consumer Staples was the top-performing sector, posting a significant gain of +1.23%. Other strong performers included Financials and Energy. On the negative side, only two sectors declined; Utilities was the biggest laggard, followed by Materials.



All three benchmark indices logged weekly gains, with the S&amp;P 500 advancing 0.63%, the Nasdaq Composite up 0.45% and the Dow Jones rising by 0.52%.



<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>0.52%</td><td>22,679.98</td></tr><tr><td>S&amp;P 500</td><td>0.53%</td><td>6,664.01</td></tr><tr><td>Dow Jones</td><td>0.52%</td><td>46,190.61</td></tr><tr><td>Russell 2000</td><td>-0.60%</td><td>2,452.17</td></tr></tbody></table></figure>



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



As markets head into the trading day, analysts are highlighting robust corporate performance while also flagging growing pressures on the American consumer.



Charlie Bilello, Chief Market Strategist at Creative Planning, pointed to the strength of the current earnings season as the key driver for record-high markets.



With 10% of companies having reported, Bilello notes, &#8220;S&amp;P 500 operating earnings are expected to hit another record high (TTM), up 10% over the last year.&#8221; He emphasized that the underlying fundamentals remain &#8220;very positive&#8221; and that the main driver for the market is &#8220;earnings, earnings, earnings.&#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">With 10% of companies reported, S&amp;P 500 operating earnings are expected to hit another record high (TTM), up 10% over the last year. <a href="https://twitter.com/search?q=%24SPX&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SPX</a> Video: <a href="https://t.co/IhoPvzPBa2">https://t.co/IhoPvzPBa2</a> <a href="https://t.co/Yv5BeZVNxm">pic.twitter.com/Yv5BeZVNxm</a>&mdash; Charlie Bilello (@charliebilello) <a href="https://twitter.com/charliebilello/status/1979990962031218689?ref_src=twsrc%5Etfw">October 19, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Conversely, Ryan Detrick, Chief Market Strategist at Carson Group, shed light on a significant <a href="https://www.benzinga.com/markets/economic-data/25/10/48295091/christine-lagarde-sounds-warning-on-trump-tariffs-question-of-time-before-consumers-feel-full-impact">headwind from tariffs</a>. Citing Goldman Sachs research, Detrick warned that the cost burden is shifting away from businesses and onto shoppers.



While &#8220;consumers are paying 37% of the tariffs&#8221; currently, he noted, &#8220;it&#8217;ll eventually be 55%.&#8221; This analysis suggests that as US businesses reduce their share of the cost from 51% down to 22%, the resulting squeeze on consumers could challenge future spending and corporate profitability. 



<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">According to Goldman Sachs, consumers are paying 37% of the tariffs, but it&#39;ll eventually be 55%. <a href="https://t.co/hgwTasjNSu">pic.twitter.com/hgwTasjNSu</a>&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1980082874473955608?ref_src=twsrc%5Etfw">October 20, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



See Also: <a href="https://www.benzinga.com/money/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 this week;



<ul class="wp-block-list">
<li>On Monday, the U.S. leading economic indicators will be released by 10:00 a.m. ET.</li>
</ul>



<ul class="wp-block-list">
<li>On Tuesday, Fed governor Christopher Waller would speak at 10:00 a.m. ET.</li>
</ul>



<ul class="wp-block-list">
<li>On Wednesday, Fed governor Michael Barr will speak at 4:00 p.m. ET.</li>
</ul>



<ul class="wp-block-list">
<li>On Thursday, the initial jobless claims data for the latest week will be delayed because of the impending shutdown. Existing home sales for September will be out by 10:00 a.m. ET.</li>
</ul>



<ul class="wp-block-list">
<li>Fed Vice Chair for Supervision Michelle Bowman will testify before the Senate Banking, Housing, and Urban Affairs Committee at 10:00 a.m., and Fed Governor Michael Barr will speak at 10:25 a.m. ET.</li>
</ul>



<ul class="wp-block-list">
<li>On Friday, the delayed headline and core Consumer Price Index data for September will be released at 8:30 a.m.</li>
</ul>



<ul class="wp-block-list">
<li>October&#8217;s S&amp;P flash U.S. services PMI and manufacturing PMI will be out by 9:45 a.m., and September new home sales data will be delayed due to the impending shutdown.</li>
</ul>



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



Crude oil futures were trading lower in the early New York session by 0.42% to hover around $56.91 per barrel.



Gold Spot US Dollar rose 0.18% to hover around $4,262.79 per ounce. Its last record high stood at $4,379.44 per ounce. The U.S. Dollar Index spot was 0.05% higher at the 98.4870 level.



Meanwhile, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was trading 4.45% higher at $111,240.79 per coin.



Asian markets closed higher on Monday as South Korea's Kospi, India&#8217;s NIFTY 50, Hong Kong's Hang Seng, Australia's ASX 200, China&#8217;s CSI 300, and Japan's Nikkei 225 indices rose. European markets were higher in early trade.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/etfs/sector-etfs/25/10/48296149/nvidias-real-bottleneck-isnt-chips-its-power-says-beth-kindig-tech-analyst-shares-what-it-means-">Nvidia&#8217;s Real &#8216;Bottleneck&#8217; Isn&#8217;t Chips, It&#8217;s Power, Says Beth Kindig, Tech Analyst Shares What It Means For AI Investors</a></li>
</ul>



Photo: Zakharchuk / Shutterstock

Analyst Color

Earnings Beats

Earnings Misses

Macro Notification

Bonds

Broad U.S. Equity ETFs

Guidance

Emerging Markets

Eurozone

Forex

Treasuries

Federal Reserve

Pre-Market Outlook

General

$BTC

BMNR

MRNA

Stock Market Today: S&P 500, Nasdaq, Dow Jones Futures Rise— Micron, Bitmine, Coinbase In Focus

China&#8217;s economy has slowed down significantly in the latest quarter, amid the tensions and uncertainties surrounding the tariffs imposed on the nation by President Donald Trump.



<h2 class="wp-block-heading">China&#8217;s Growth Slows Amid Tariffs</h2>



The world&#8217;s second-largest economy grew at its slowest annual pace in a year, with its third-quarter GDP growth, for the months between July and September, coming in at 4.8%. This is down from 5.2% the prior quarter amid escalating trade tensions and slacking domestic demand, according to a <a href="https://apnews.com/article/china-economy-jinping-trump-tariffs-0e89af9f6b36094a768f5426a43b5db6">report</a> by APNews. 



See Also: <a href="https://www.benzinga.com/news/politics/25/10/48292551/scott-bessents-constructive-call-sets-up-us-china-negotiations">Scott Bessent&#8217;s &#8216;Constructive&#8217; Call Sets Up US–China Negotiations</a>



Despite this, the nation&#8217;s exports have held strong, as Chinese companies have begun moving their sales to other global markets. 



<h2 class="wp-block-heading">US Stock Futures Inch Higher, Asian Markets In The Green</h2>



Hong Kong&#8217;s Hang Seng index is up 2.47% on Monday, trading at 25,870.32, while the mainland&#8217;s CSI 300 Index is up 0.80%, at 4,550.33. The Shanghai Composite index is up 0.69% on the news, trading at 3,866.09.



The&nbsp;S&amp;P 500 futures&nbsp;are up 0.23% or 15.25 points at 6,717.75,&nbsp;Nasdaq futures&nbsp;are up 79.25 points, or 0.32%, trading at 25,065.25, followed by&nbsp;Dow Futures, up 0.17%, or 77 points at 46,460.00.



Meanwhile, Japan&#8217;s Nikkei 225 is up 2.52% on Monday morning trade, at 48,970.40, with electrical, manufacturing and export-oriented stocks leading the rally.



<h2 class="wp-block-heading">Gold, US Dollar Head Higher </h2>



The U.S. Dollar Index (DXY) is largely flat, trading up 0.02% on Monday, and is up 1.15% over the past month, despite the <a href="https://www.benzinga.com/news/politics/25/10/48162671/trump-puts-additional-100-tariffs-on-china-crypto-stocks-drop">escalating trade tensions</a> between the U.S. and China. 



Gold&#8217;s spot price is up 0.05%, trading at $4,256 an ounce, down from its all-time high of $4,379.60 an ounce, which it hit last week. 



Read More: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/emerging-markets/25/10/48292480/ai-stocks-contribute-5-trillion-to-us-household-wealth-jpmorgan-reveals">AI Stocks Contribute $5 Trillion To US Household Wealth, JPMorgan Reveals</a></li>
</ul>



Photo Courtesy: Matteo Benegiamo on Shutterstock.com

Trump Tariffs Fail To Dent China's Exports As Beijing Moves Sales To Other Markets, But Economic Growth Slows — Asian Markets Open Strong

Economist Justin Wolfers pushed back against &#8220;confident&#8221; bears, suggesting that fears of a massive AI bubble may be overhyped and that the soaring valuations seen in the tech sector &#8220;actually do make sense.&#8221;



<h2 class="wp-block-heading">AI Bubble Or &#8216;Beautiful Industrial Revolution&#8217;</h2>



In a segment on MSNBC, Wolfers framed the AI boom as a potential &#8220;beautiful industrial revolution.&#8221; He argued that while &#8220;it&#8217;s certainly possible&#8221; the market is in a bubble, the massive investments being made are consistent with a genuine technological shift.



He noted that the valuations could be justified if AI delivers on its promise, automating simple tasks and freeing up human potential for &#8220;poetry, sing, walk.&#8221;



Despite his optimistic stance, Wolfers&#8217; core message was a stern warning against all forms of conviction in the current market. He cautioned, &#8220;Calling bubbles in real time is like trying to spot the top of Mount Everest while you&#8217;re still climbing.&#8221;



He stressed that the peak is only obvious &#8220;when you start going downhill,&#8221; adding, &#8220;Anyone who expresses certainty… shouldn&#8217;t.&#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">Calling bubbles in real time is like trying to spot the top of Mount Everest while you're still climbing. You only realize it was the peak when you start going downhill. It's possible AI is in a bubble. It's also possible we&#39;re on the cusp of a genuine technological revolution.… <a href="https://t.co/dwoZigWN5U">pic.twitter.com/dwoZigWN5U</a>&mdash; Justin Wolfers (@JustinWolfers) <a href="https://twitter.com/JustinWolfers/status/1979878244762423468?ref_src=twsrc%5Etfw">October 19, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h2 class="wp-block-heading">Bulls Versus Bears On AI Bubble</h2>



Wolfers&#8217; suggestion that valuations may be rational echoes Wall Street&#8217;s most bullish takes. Goldman Sachs recently dismissed bubble concerns, projecting an <a href="https://www.benzinga.com/markets/tech/25/10/48271066/ai-boom-poised-to-unlock-8-trillion-opportunity-say-top-analysts-investment-levels-are">$8 trillion opportunity</a> and arguing that current investment levels are sustainable. 



Wedbush analyst Dan Ives famously called this the &#8220;second inning&#8221; of the revolution, declaring the &#8220;AI party&#8221; <a href="https://www.benzinga.com/markets/tech/25/10/48268270/dan-ives-says-its-only-1030-pm-at-ai-party-and-were-in-the-second-inning-of-a-trillion-dollar-revolution">is still early</a> at &#8220;10:30 PM.&#8221;



This view stands in stark contrast to dire warnings from bears. Investment firm GQG Partners recently labeled the market &#8220;<a href="https://www.benzinga.com/markets/equities/25/09/47735517/big-tech-stocks-mirror-dotcom-bubble-but-on-steroids-says-top-analyst-could-repercussions-be-more-pronounced-than-1999-crash">Dotcom on steroids</a>,&#8221; arguing today&#8217;s conditions are worse than the 1999 crash due to &#8220;deteriorating company fundamentals.&#8221;



Crescat Capital amplified this, noting that top tech stocks are now <a href="https://www.benzinga.com/markets/commodities/25/10/48169857/tech-stocks-now-valued-270-higher-than-at-dot-com-peak-analyst-says-market-shows-a-near-total-disregard-for-risk">valued 270% higher</a> as a percentage of GDP than at the dot-com peak. 



See Also: <a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/10/48100265/fear-of-an-ai-bubble-this-time-is-different-goldman-says" target="_blank" rel="noreferrer noopener">Fear Of An AI Bubble? This Time Is Different, Goldman Says</a>



<h2 class="wp-block-heading">Wolfers&#8217; Cautious Bubble Stance Comes With &#8216;Non-AI Recession&#8217; Warning</h2>



Wolfers&#8217; commentary ultimately invalidates both extremes. &#8220;People who are confident there&#8217;s a bubble… they&#8217;re almost always wrong,&#8221; he stated. &#8220;If we actually knew, we wouldn&#8217;t be in the bubble.&#8221;



However, last week he argued that the U.S. is effectively operating as "<a href="https://www.benzinga.com/markets/economic-data/25/10/48169880/justin-wolfers-warns-of-two-economies-were-on-the-cusp-of-a-non-ai-recession">two economies</a>" where a massive AI boom is concealing significant weakness in all other sectors. He stated that without the surge in AI-related investment, the country is "on the cusp of a non-AI recession."



<h2 class="wp-block-heading">AI-Linked Stocks And ETFs Shine Bright Like A Diamond</h2>



While the S&amp;P 500 index has gained 13.55% year-to-date, most of the AI-linked stocks and exchange-traded funds have outperformed the market. Here is a list that investors could consider.



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>ETF Name</td><td>YTD Performance</td><td>One Year Performance</td></tr><tr><td>iShares US Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/IYW">IYW</a>)</td><td>23.58%</td><td>23.58%</td></tr><tr><td>Fidelity MSCI Information Technology Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/FTEC">FTEC</a>)</td><td>21.07%</td><td>24.10%</td></tr><tr><td>First Trust Dow Jones Internet Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/FDN">FDN</a>)</td><td>13.94%</td><td>26.38%</td></tr><tr><td>iShares Expanded Tech Sector ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/IGM">IGM</a>)</td><td>24.99%</td><td>29.97%</td></tr><tr><td>iShares Global Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/IXN">IXN</a>)</td><td>24.04%</td><td>24.78%</td></tr><tr><td>Defiance Quantum ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/QTUM">QTUM</a>)</td><td>33.48%</td><td>72.22%</td></tr><tr><td>Roundhill Magnificent Seven ETF (BATS:<a class="ticker" href="https://www.benzinga.com/quote/MAGS">MAGS</a>)</td><td>18.78%</td><td>34.72%</td></tr></tbody></table></figure>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Stocks</td><td>YTD Performance</td><td>One Year Performance</td></tr><tr><td>Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NVDA">NVDA</a>)</td><td>32.47%</td><td>27.49%</td></tr><tr><td>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AAPL">AAPL</a>)</td><td>3.46%</td><td>6.69%</td></tr><tr><td>Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MSFT">MSFT</a>)</td><td>22.70%</td><td>22.64%</td></tr><tr><td>Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AMZN">AMZN</a>)</td><td>-3.26%</td><td>12.68%</td></tr><tr><td>Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/GOOG">GOOG</a>)</td><td>33.13%</td><td>53.07%</td></tr><tr><td>Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/META">META</a>)</td><td>19.64%</td><td>24.65%</td></tr><tr><td>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TSLA">TSLA</a>)</td><td>15.83%</td><td>100.74%</td></tr></tbody></table></figure>



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<li><a href="https://www.benzinga.com/markets/commodities/25/10/48169857/tech-stocks-now-valued-270-higher-than-at-dot-com-peak-analyst-says-market-shows-a-near-total-disregard-for-risk">Tech Stocks Now Valued 270% Higher Than At Dot-Com Peak: Analyst Says Market Shows A &#8216;Near-Total Disregard For Risk&#8217;</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: TeeStocker on Shutterstock.com



<a href="https://www.benzinga.com/markets/commodities/25/10/48169857/tech-stocks-now-valued-270-higher-than-at-dot-com-peak-analyst-says-market-shows-a-near-total-disregard-for-risk"> </a>

AAPL

FTEC

GOOG

MAGS

MSFT

QTUM

Justin Wolfers Says Calling AI Bubble Is A Bit Like Trying To Spot The Top Of Mt. Everest, Economist Questions 'Confident Bears'

Wedbush Securities investor and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TSLA">TSLA</a>) bull Dan Ives is optimistic about the approval of CEO Elon Musk's new pay package during <a href="https://www.benzinga.com/markets/tech/25/07/46359669/teslas-annual-shareholder-meeting-set-for-november-6th-dan-ives-says-elon-musks-pay-package-in-the-spotlight">next month's shareholder meeting</a> ahead of the automaker's third-quarter earnings call on Wednesday.



Check out the current price of TSLA<a href="https://benzinga.com/quote/TSLA"> here</a>.



<h2 class="wp-block-heading">Robotaxi, Optimus And Cybercab Remain Major Focus, Says Dan Ives</h2>



The investor shared his thoughts in a post on the social media platform X on Sunday. "A major focus on Tesla's call will be the Robotaxi rollout across the US and volume production trajectory for Cybercabs/Optimus in 2026," Ives said in the post.



He also expressed confidence about Musk's pay package receiving shareholder approval. "We expect Musk pay package and xAI stake to be approved," Ives said.



<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 major focus on Tesla's call will be the Robotaxi rollout across the US and volume production trajectory for Cybercabs/Optimus in 2026, and stable demand. Another focus is the upcoming shareholder meeting (Nov 6)..we expect Musk pay package and xAI stake to be approved &#x1f525;&#x1f3c6;&#x1f402;&#x1f3af;&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1980053865908277658?ref_src=twsrc%5Etfw">October 19, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h2 class="wp-block-heading">Merger Talks, Optimus Push</h2>



<a href="https://www.benzinga.com/markets/tech/25/09/47541119/gene-munster-thinks-elon-musk-should-combine-tesla-with-xai-to-achieve-fairy-tale-ending-with-8-5-trillion-market-cap">A merger of Tesla</a> and Musk's artificial intelligence company xAI, or an investment into the company by the automaker, <a href="https://www.benzinga.com/markets/large-cap/25/07/46385300/tesla-xai-and-spacex-merger-chamath-palihapitiya-floats-industrial-logic-for-union-of-elon-musk-led-companies-this-would-be-pretty-logical">has been endorsed</a> in the past by experts like Social Capital's founder Chamath Palihapitiya, as well as Deepwater Asset Management's investor Gene Munster.



Tesla has been pushing towards artificial intelligence and Robotics, as highlighted in the company&#8217;s <a href="https://www.benzinga.com/markets/tech/25/09/47455759/tesla-new-master-plan-is-either-genius-or-just-elon-being-elon">Master Plan IV</a>, which laid down Tesla&#8217;s roadmap for the coming years. Coinciding with the AI push, Musk predicted that the Optimus humanoid robot would account for over <a href="https://www.benzinga.com/markets/tech/25/09/47465087/elon-musk-predicts-80-of-teslas-value-will-be-in-optimus-promises-more-master-plan-iv-specifics-as-ev-giant-pushes-towards-ai">80% of Tesla&#8217;s future value</a>.



<h2 class="wp-block-heading">Cybercab Spotted Testing</h2>



In a video shared by influencer Sawyer Merritt on Sunday, we see the Tesla Cybercab up close in action for the first time since it was unveiled in October last year and spotted <a href="https://www.benzinga.com/markets/tech/25/10/48143639/tesla-cybercab-spotted-at-gigafactory-texas-and-california-after-affordable-model-y-model-3-trims-launch">on multiple occasions</a>. The Cybercab(s) can be seen driving autonomously, with one of the units halting at a stop sign at the automaker's Giga factory in Texas. The Cybercab also had the "Tesla Engineering Prototype V_001" written on the door panel.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The future is gold. <a href="https://t.co/3RL2jsOKBT">pic.twitter.com/3RL2jsOKBT</a>&mdash; Sawyer Merritt (@SawyerMerritt) <a href="https://twitter.com/SawyerMerritt/status/1980063997249585214?ref_src=twsrc%5Etfw">October 20, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h2 class="wp-block-heading">Gary Black's Earnings Call Prediction, Ross Gerber On Cybercab's Alternate Use</h2>



Future Fund LLC's managing director, Gary Black, predicted that Musk <a href="https://www.benzinga.com/markets/tech/25/10/48268257/gary-black-predicts-elon-musk-wont-answer-this-important-robotaxi-question-amid-nhtsa-fsd-probe">wouldn't answer questions</a> regarding the removal of onboard safety operators from Tesla's Robotaxis during the upcoming earnings call. Tesla currently provides Robotaxis in Austin as well as a <a href="https://www.benzinga.com/markets/tech/25/09/47810403/elon-musk-led-teslas-san-francisco-ride-hailing-expansion-alarmed-officials-report">ride-hailing service</a> in California.



The company also recently moved <a href="https://www.benzinga.com/markets/tech/25/09/47492579/tesla-moves-safety-operator-to-drivers-seat-as-robotaxi-hits-austin-highways">onboard safety operators</a> in Austin to the driver's seat from the passenger seat, in a move likely to be the automaker's response to updated self-driving regulations in Texas.



Meanwhile, investment firm Gerber Kawasaki's co-founder Ross Gerber suggested that Tesla should <a href="https://www.benzinga.com/markets/tech/25/10/48116757/ross-gerber-has-this-cybercab-suggestion-for-elon-musk-amid-affordable-model-y-buzz-put-a-steering">put a steering wheel in the Cybercab</a> and sell it as a two-door, affordable Tesla model instead of the standard, trimmed-down variants of the Model Y and Model 3 as the affordable options in the lineup.



<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="201" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/19232506/TSLA-OCT-20-2025-1-1024x201.jpg" alt="" class="wp-image-1121391" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/19232506/TSLA-OCT-20-2025-1-1024x201.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/19232506/TSLA-OCT-20-2025-1-300x59.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/19232506/TSLA-OCT-20-2025-1-768x151.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/19232506/TSLA-OCT-20-2025-1-1536x301.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/19232506/TSLA-OCT-20-2025-1.jpg 1566w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



Tesla scores well on Momentum, Quality and Growth metrics, but offers poor Value. Tesla also offers a favorable price trend in the Short, Medium and Long term. For more such insights, sign up for<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"> Benzinga Edge Stock Rankings</a> today!



Check out more of Benzinga&#8217;s Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>



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</ul>



Photo Courtesy: Erman Gunes on Shutterstock.com

Dan Ives Says Robotaxi Rollout Across US, xAI Investment And Elon Musk's Pay Packet Will Be 'Major Focus' Of Tesla Earnings Call

Litecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ltc/usd">LTC</a>) could soon see its exchange-traded fund debut on Wall Street, but creator Charlie Lee said it was a "headache" and wished he hadn't gone through with it.



<h2 class="wp-block-heading">Don&#8217;t Do Anything Else But Buy Bitcoin, Says Lee</h2>



During an interview with&nbsp;CoinDesk&nbsp;that aired Sept. 30,&nbsp;Lee was asked for advice he would give to his younger self.



My advice for myself would just to be, I think this would be surprising to a lot of people, but which is to buy Bitcoin, store it away, don&#8217;t sell anything and don&#8217;t do anything else related to crypto. Just sit on it and be anonymous,&#8221; Lee replied.



Lee, a former Google employee, disclosed that creating Litecoin did not make him&nbsp;more money and was &#8220;a lot of headache.&#8221;



&#8220;I really envy Satoshi [Nakamoto] sometimes for what he was able to do, hopefully still alive. But being able to walk away and still no one knows who you are is powerful,&#8221; he added.



<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="If Bitcoin Is for the &#039;Kings,&#039; Is Litecoin for the People? &#x7C; CoinDesk Spotlight With Charlie Lee" width="500" height="281" src="https://www.youtube.com/embed/_-E8cmEcmEM?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>







<h2 class="wp-block-heading">&#8216;Silver To Bitcoin&#8217;s Gold&#8217;</h2>



Lee revealed that the idea behind creating LTC in 2011 was to create a &#8220;silver&#8221; to Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) &#8220;gold.&#8221;



&#8220;And it&#8217;s the case right now where there are a lot of people using Litecoin because it&#8217;s easier to use. It has faster transactions, lower fees, so for everyday purchases,&#8221; he added. &#8220;Bitcoin is currency for kings and Litecoin is currency for the people.&#8221;



It&#8217;s worth noting that LTC is the most used cryptocurrency for transactions, <a href="https://www.bitpay.com/stats">according </a>to cryptocurrency service provider BitPay, accounting for over 30% of the market in August.



 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/money/bitcoin-price-prediction-oct-14">Bitcoin (BTC) Price Predictions: 2025, 2026, 2030</a>



<h2 class="wp-block-heading">Anticipation For LTC ETFs</h2>



Litecoin, whose core technology is also <a href="https://www.benzinga.com/markets/cryptocurrency/22/01/22155866/exclusive-dogecoin-co-creator-billy-markus-on-the-negatives-of-cryptocurrency-nfts-and-elo">employed</a> in Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), has evolved into a speculative and investment tool today, with a market capitalization of over $7 billion.



Moreover, leading asset managers such as&nbsp;Grayscale,&nbsp;CoinShares&nbsp;and Canary Capital have filed applications to bring LTC ETFs to Wall Street, positioning it on par with&nbsp;Bitcoin&nbsp;and&nbsp;Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>).



Price Action: At the time of writing, LTC was exchanging hands at $2.97, up 3.85% 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>. Year-to-date, the coin was down 8.68%.



BTC traded down 1.06% to $111.057 at last check.



Photo Courtesy: alfernec on Shutterstock.com



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/10/48229271/scott-bessent-says-its-china-versus-the-world-then-whys-bitcoin-down-to-111000">Scott Bessent Says It&#8217;s &#8216;China Versus The World&#8217;—Then Why&#8217;s Bitcoin Down To $111,000?</a></li>
</ul>

Cryptocurrency

$DOGE

$ETH

$LTC

Charlie Lee Created The Crypto That Powers Dogecoin, But Recently Confessed It Was A 'Headache' — He Wished He Did This Instead

A bipartisan committee in the U.S. Congress has reportedly begun a probe into&nbsp;Elon Musk‘s&nbsp;Starlink satellite business&nbsp;for its alleged involvement&nbsp;in providing internet <a target="_blank" href="https://www.benzinga.com/news/legal/25/10/48191305/elon-musks-starlink-is-reportedly-being-probed-for-alleged-role-in-myanmar-scam-centers-it-is-abhorrent" rel="noreferrer noopener">access to&nbsp;scam centers in Myanmar</a>.



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



Taiwan Semiconductor Manufacturing Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/TSM">TSM</a>)&nbsp;delivered&nbsp;third-quarter results&nbsp;that blew past analyst expectations, driven by global demand for its advanced processor technologies <a target="_blank" href="https://www.benzinga.com/markets/earnings/25/10/48244472/taiwan-semiconductor-lifts-outlook-after-blowout-quarter-ceo-says-ai-signals-from-clients-are-very-strong" rel="noreferrer noopener">essential for artificial intelligence applications</a>.



ASML&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ASML">ASML</a>) reported&nbsp;third-quarter 2025&nbsp;results showing slightly lower revenue but stronger-than-expected earnings, driven by robust demand for its Extreme <a target="_blank" href="https://www.benzinga.com/analyst-stock-ratings/reiteration/25/10/48258056/asml-q3-earnings-beat-on-strong-euv-demand-ai-boosts-growth" rel="noreferrer noopener">Ultraviolet (EUV) lithography systems</a>.



Salesforce Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/CRM">CRM</a>) set a new&nbsp;long-term revenue target&nbsp;of over $60 billion by fiscal year 2030, excluding Informatica, signaling a 10%+ organic CAGR from <a target="_blank" href="https://www.benzinga.com/markets/tech/25/10/48249887/salesforce-gains-on-strong-ai-momentum-agentforce-expansion-expanded-google-partnership" rel="noreferrer noopener">fiscal 2026 to fiscal 2030</a>.



<h2 class="wp-block-heading">Smartphone &amp; Retail</h2>



Apple&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AAPL">AAPL</a>) unveiled the&nbsp;new M5 chip, featuring advanced graphics processing units (GPUs) with Neural Accelerators, high-performance central processing units (CPUs), and a faster Neural Engine, <a target="_blank" href="https://www.benzinga.com/markets/tech/25/10/48229991/apple-unveils-new-m5-chip-boosting-ai-graphics-performance" rel="noreferrer noopener">which supercharges Apple&#8217;s devices</a>.



Apple will become the exclusive U.S. broadcast partner for&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/25/10/48278541/apple-grabs-exclusive-us-f1-rights-starting-in-2026" rel="noreferrer noopener">Formula 1 beginning in 2026</a>.



Apple is preparing to open preorders for its new&nbsp;iPhone Air&nbsp;in China later this week, following regulatory&nbsp;approval for eSIM services&nbsp;by the country&#8217;s <a target="_blank" href="https://www.benzinga.com/markets/tech/25/10/48189586/apple-iphone-air-preorders-to-soon-begin-in-china-as-esim-gets-green-light-from-major-telecom-operators" rel="noreferrer noopener">three largest telecom operators</a>.



Apple and&nbsp;Comcast Corporation's&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/CMCSA">CMCSA</a>)&nbsp;NBCUniversal&nbsp;unveiled a new streaming bundle on Thursday, bringing together Apple TV+ and&nbsp;Peacock <a target="_blank" href="https://www.benzinga.com/markets/equities/25/10/48258197/apple-tv-peacock-bundle-debuts-this-month-with-30-off" rel="noreferrer noopener">under a single subscription</a>.



Amazon.com Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AMZN">AMZN</a>) is reportedly preparing to lay off up to&nbsp;15% of its human resources&nbsp;team, with additional cuts expected in other departments, as the e-<a target="_blank" href="https://www.benzinga.com/markets/tech/25/10/48218834/amazon-plans-to-cut-15-of-hr-staff-more-layoffs-expected-across-divisions-report" rel="noreferrer noopener">commerce giant ramps up&nbsp;AI investments</a>.



Alibaba&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/BABA">BABA</a>)&nbsp;fintech affiliate&nbsp;Ant Group has open-sourced&nbsp;dInfer, an inference framework for diffusion language models, claiming it can make AI systems more <a target="_blank" href="https://www.benzinga.com/markets/tech/25/10/48247787/alibabas-ant-group-open-sources-dinfer-claims-outpaces-nvidia" rel="noreferrer noopener">efficient than&nbsp;</a><a target="_blank" href="https://www.benzinga.com/markets/tech/25/10/48247787/alibabas-ant-group-open-sources-dinfer-claims-outpaces-nvidia" rel="noreferrer noopener">Nvidia&#8217;s&nbsp;</a><a target="_blank" href="https://www.benzinga.com/markets/tech/25/10/48247787/alibabas-ant-group-open-sources-dinfer-claims-outpaces-nvidia" rel="noreferrer noopener">framework</a>.



Alibaba remains aggressively invested in a gamut of activities, including&nbsp;integrating artificial intelligence across its e-commerce ecosystem and expanding its global footprint through significant investments in Hong Kong <a target="_blank" href="https://www.benzinga.com/markets/tech/25/10/48277870/alibaba-stock-surges-95-as-company-doubles-down-on-ai-cloud" rel="noreferrer noopener">real estate to drive value</a>.



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



British chip designer&nbsp;Arm Holdings PLC&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ARM">ARM</a>) and&nbsp;Meta Platforms Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/META">META</a>) collaborated to scale&nbsp;artificial intelligence efficiency&nbsp;across all compute layers, from <a target="_blank" href="https://www.benzinga.com/markets/tech/25/10/48235361/meta-taps-arm-to-power-ai-across-devices-and-the-cloud" rel="noreferrer noopener">AI software to data center infrastructure</a>.



Meta introduced new parental controls designed to enhance teen safety&nbsp;around <a target="_blank" href="https://www.benzinga.com/markets/equities/25/10/48276795/meta-tightens-teen-ai-safety-adds-parental-controls-and-content-limits" rel="noreferrer noopener">AI chats across its platforms</a>.



Accenture Plc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ACN">ACN</a>) has&nbsp;acquired&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/25/10/b48191967/accenture-acquires-decho-to-further-scale-palantir-and-gen-ai-capabilities-across-health-and-publi" rel="noreferrer noopener">Decho</a>, a U.K.-based technology and AI consultancy that specializes in&nbsp;Palantir Technologies Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/PLTR">PLTR</a>) platforms. The acquisition aims to accelerate the implementation and scaling of AI-driven solutions across the health, defense, <a target="_blank" href="https://www.benzinga.com/m-a/25/10/48198654/accenture-expands-ai-capabilities-through-decho-buyout-eyes-broader-palantir-integration" rel="noreferrer noopener">government, and commercial sectors</a>.



Palantir CEO&nbsp;Alex Karp reportedly held confidential meetings with top executives from major South Korean conglomerates to discuss AI strategy, as the software company&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/25/10/48218224/palantir-ceo-reportedly-holds-secret-meetings-with-south-korean-conglomerates-almost-military-discipline" rel="noreferrer noopener">bets on the growth&nbsp;of its platform</a>.



Oracle's&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ORCL">ORCL</a>) Cloud Infrastructure&nbsp;announced on Tuesday that it will deploy 50,000&nbsp;Advanced Micro Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AMD">AMD</a>) graphics processors starting in the second half of 2026, marking a significant shift away from the&nbsp;Nvidia&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NVDA">NVDA</a>) <a target="_blank" href="https://www.benzinga.com/markets/tech/25/10/48196994/oracle-cloud-to-deploy-50000-amd-chips-challenging-nvidias-dominance" rel="noreferrer noopener">GPUs that dominate the market</a>.



Oracle has set aggressive long-term growth targets as it ramps up its&nbsp;cloud and artificial intelligence&nbsp;infrastructure ambitions, <a target="_blank" href="https://www.benzinga.com/analyst-stock-ratings/reiteration/25/10/48278949/wall-street-divided-as-oracles-225-billion-growth-vision-sparks-optimism-and-concern" rel="noreferrer noopener">signaling confidence</a>.



Nvidia is set to launch its compact&nbsp;DGX Spark&nbsp;personal &#8220;AI supercomputer&#8221; this week, aiming to bring data center-grade computing power to the desktops of researchers, <a target="_blank" href="https://www.benzinga.com/markets/tech/25/10/48191176/nvidias-dgx-spark-a-personal-ai-supercomputer-will-debut-this-week-at-3999-i-hand-delivered-the-first-system-to-elon-jensen-huang-recalls" rel="noreferrer noopener">developers and students worldwide</a>.



Anthropic, the artificial intelligence (AI) startup,&nbsp;backed by&nbsp;Alphabet's&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/GOOGL">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/GOOG">GOOG</a>) Google and&nbsp;Amazon.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AMZN">AMZN</a>), is reportedly projecting to more than double and potentially nearly triple its annualized <a target="_blank" href="https://www.benzinga.com/markets/tech/25/10/48244996/jeff-bezos-backed-anthropic-projects-to-nearly-triple-revenues-by-2026-report" rel="noreferrer noopener">revenue run rate next year</a>.



Elon Musk said Tuesday that&nbsp;Bitcoin&nbsp;(CRYPTO:&nbsp;BTC) is based on energy and, unlike fiat currencies, governments cannot fake it <a target="_blank" href="https://www.benzinga.com/crypto/cryptocurrency/25/10/48192005/elon-musk-says-bitcoin-has-energy-you-can-issue-fake-fiat-but-it-is-impossible-to-fake-energy" rel="noreferrer noopener">and issue their own</a>.



Nscale unveiled an expanded partnership with&nbsp;Microsoft Corp.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MSFT">MSFT</a>) to deploy roughly 200,000&nbsp;NVIDIA GB300 GPUs across Europe and the United States, marking an&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/tech/25/10/48220493/nvidia-marvell-broadcom-bounce-back-after-asml-earnings-boost-investor-confidence" rel="noreferrer noopener">important AI infrastructure rollout.</a>



Microsoft plans to shift most new product manufacturing out of China as early as next year, joining other U.S. tech giants in expanding production beyond the&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/tech/25/10/48269865/microsoft-google-and-amazon-reportedly-move-production-out-of-china-as-tensions-rise" rel="noreferrer noopener">world&#8217;s second-largest economy</a>.



<h2 class="wp-block-heading">Automotive &amp; Airlines</h2>



Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TSLA">TSLA</a>)&nbsp;recorded 11.3k new insured registrations in China during the week of October 6 to October 12, according to data shared by influencer&nbsp;Roland Pircher&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/tech/25/10/48217452/tesla-sales-jump-126-as-elon-musks-ev-giant-reports-11-3k-new-insured-registrations-in-china" rel="noreferrer noopener">on the social media platform&nbsp;</a><a target="_blank" href="https://www.benzinga.com/markets/tech/25/10/48217452/tesla-sales-jump-126-as-elon-musks-ev-giant-reports-11-3k-new-insured-registrations-in-china" rel="noreferrer noopener">X</a>.



Chinese EV giant&nbsp;BYD Co., Ltd. has recalled over 115,783 units of the BYD Tang and Yuan Pro vehicles due to<a target="_blank" href="https://www.benzinga.com/markets/tech/25/10/48269246/tesla-rival-byd-issues-recall-for-more-than-115000-vehicles-over-battery-related-safety-risks" rel="noreferrer noopener"> design defects and battery issues</a>.



DoorDash, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/DASH">DASH</a>) expanded its presence into the autonomous delivery space through a new collaboration&nbsp;with Waymo, the <a target="_blank" href="https://www.benzinga.com/markets/equities/25/10/48250444/why-is-doordash-stock-gaining-today" rel="noreferrer noopener">self-driving unit of </a><a target="_blank" href="https://www.benzinga.com/markets/equities/25/10/48250444/why-is-doordash-stock-gaining-today" rel="noreferrer noopener">Alphabet</a>.



United Airlines Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/UAL">UAL</a>) will offer&nbsp;Elon Musk-owned Starlink's WiFi onboard its mainline flights, after the company&nbsp;received approval from the FAA&nbsp;to offer the service onboard a&nbsp;Boeing Co.&nbsp;<a target="_blank" href="https://www.benzinga.com/news/travel/25/10/48246957/elon-musks-starlink-wi-fi-now-available-on-united-airlines-flights" rel="noreferrer noopener">(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/BA">BA</a>) 737 aircraft last month</a>.



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



OpenAI&nbsp;announced on Tuesday that it will begin allowing erotica and other adult-themed content on ChatGPT for adult users, marking a major <a target="_blank" href="https://www.benzinga.com/markets/tech/25/10/48240522/openais-chatgpt-to-allow-erotica-for-adults-not-moral-police-of-the-world-sam-altman-says" rel="noreferrer noopener">shift in the&nbsp;company&#8217;s content policy</a>.



OpenAI&nbsp;is reportedly chasing new revenue streams, debt partnerships, and additional fundraising as part of a five-year plan to fulfill its $1 trillion&nbsp;spending&nbsp;pledge to a<a target="_blank" href="https://www.benzinga.com/markets/tech/25/10/48223881/openai-is-reportedly-working-on-a-five-year-plan-to-fulfill-its-massive-spending-pledge" rel="noreferrer noopener">dvance artificial intelligence</a>.



Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/WMT">WMT</a>) shares are trading higher on Tuesday after the company announced that its shoppers will soon be able to <a target="_blank" href="https://www.benzinga.com/markets/equities/25/10/48199715/walmart-openai-chatgpt-to-kill-the-boring-search-bar-era" rel="noreferrer noopener">buy&nbsp;directly through ChatGPT</a>.



Image: Shutterstock/Hadrian

ASML

CMCSA

DASH

GOOGL

ORCL

PLTR

Consumer Tech News (Oct 13-17): Elon Musk's Starlink Under US Probe, Salesforce Eyes $60B Revenue, Apple Launches M5 Chip And More

It&#8217;s been an eventful week in the world of business and politics. Here&#8217;s a quick roundup of the top stories that you might have missed.



<h2 class="wp-block-heading">Trump&#8217;s &#8216;Liberation Day&#8217; Tariffs Backfire, China&#8217;s Silence Speaks Volumes</h2>



Nobel Prize-winning economist&nbsp;Paul Krugman&nbsp;has cautioned that the &#8220;Liberation Day&#8221; tariffs imposed by former President&nbsp;Donald Trump&nbsp;are having unintended consequences. Krugman argues that China now has the upper hand in the ongoing trade war.&nbsp;



Read the full article <a href="https://www.benzinga.com/news/politics/25/10/48189147/trumps-liberation-day-tariffs-have-backfired-says-economist-paul-krugman-the-chinese-know-what-theyre-doing-america-doesnt">here</a>.



<h2 class="wp-block-heading">China&#8217;s Silence Is Scarier Than Tariffs—5 Ways It Could Hit Trump Hard</h2>



Amid the escalating U.S.–China trade tensions, President&nbsp;Donald Trump&nbsp;has been vocal with his tariffs. However, China&#8217;s strategic silence could be more impactful than any retaliatory measures. The risks surrounding the trade relations between Washington and Beijing remain high.&nbsp;



Read the full article <a href="https://www.benzinga.com/news/politics/25/10/48172557/trump-us-china-tariffs-retaliation-5-ways">here</a>.



<h2 class="wp-block-heading">Marc Andreessen Backs Elon Musk&#8217;s $10 Trillion US Re-Industrialization Plan</h2>



See Also:&nbsp;<a href="https://benzinga.com/markets/macro-economic-events/25/10/48268370/no-one-wants-cash-right-now-as-confidence-in-fiat-currencies-collapses-institutiona" target="_blank" rel="noreferrer noopener">&#8216;No One Wants Cash Right Now&#8217; As Confidence In Fiat Currencies Collapses: Institutional Cash Allocation Drops To Lowest In 12 Years</a>



Renowned tech investor&nbsp;Marc Andreessen&nbsp;has voiced his support for a proposal suggesting that&nbsp;Elon Musk&nbsp;should lead a $10 trillion initiative to reindustrialize the U.S. This proposal was made by a user on X, and Andreessen has given it his backing.&nbsp;



Read the full article <a href="https://www.benzinga.com/markets/macro-economic-events/25/10/48173814/marc-andreessen-backs-call-for-elon-musk-to-spearhead-10-trillion-us-re-industrialization-plan-this-is-the-way">here</a>.



<h2 class="wp-block-heading">Trump&#8217;s Tariffs Are Pushing China To Learn To Live Without US, Says Jim Cramer</h2>



According to&nbsp;Jim Cramer, China is rapidly adapting to the trade challenges posed by&nbsp;Donald Trump&#8217;s tariffs and trade wars. This could mean that China is now less reliant on American markets than ever before.&nbsp;



Read the full article <a href="https://www.benzinga.com/news/politics/25/10/48190693/trumps-tariffs-are-pushing-china-to-learn-to-live-without-us-says-jim-cramer-theyve-got-the-cards">here</a>.



<h2 class="wp-block-heading">Jamie Dimon: AI Is Not A Bubble, But It Will Cause A Revolution</h2>



Jamie Dimon&nbsp;is not buying into the AI bubble hype. The JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/JPM">JPM</a>) CEO believes that artificial intelligence is not a fad and that the payoff will come. However, it will replace jobs at a pace that could cause major problems if governments and businesses fail to prepare.&nbsp;



Read the full article <a href="https://www.benzinga.com/markets/tech/25/10/48220341/jamie-dimon-says-you-cant-look-at-ai-as-a-bubble-people-should-stop">here</a>.



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://benzinga.com/news/politics/25/10/48172557/trump-us-china-tariffs-retaliation-5-ways" target="_blank" rel="noreferrer noopener">China's Silence Is Scarier Than Tariffs—5 Ways It Could Hit Trump Hard &#8211; Benzinga</a></li>
</ul>



Photo courtesy: Photo Agency on Shutterstock.com



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

Trump's Tariffs Backfire, China Stays Silent, Marc Andreessen Backs Musk's $10 Trillion Plan And More: This Week In Economy

Alice Walton and Elon Musk represent two titans of wealth from very different sectors, with 2025 marking a groundbreaking <a href="https://www.benzinga.com/news/politics/25/10/48285912/russian-official-asks-elon-musk-to-build-a-putin-trump-tunnel">year for each.&nbsp;</a>



Walton, the world&#8217;s richest woman, has joined the elite centibillionaire club with a net worth of $106 billion, propelled by gains in Walmart, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/WMT">WMT</a>) shares.&nbsp;



Musk made history as the first person to reach a $500 billion net worth in 2025, his holdings riding on the explosive ascent of Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TSLA">TSLA</a>) and his other ventures.​



<ul class="wp-block-list">
<li>TSLA stock is moving. <a href="https://www.benzinga.com/quote/TSLA">See the details here. </a></li>
</ul>



Read Next: <a href="https://www.benzinga.com/trading-ideas/movers/25/10/48175980/usa-rare-earth-critical-metals-stocks-explode-jpmorgan-adds-fuel-to-the-fire">USA Rare Earth, Critical Metals Stocks Explode—JPMorgan Adds Fuel To The Fire</a>



<h2 class="wp-block-heading">Alice Walton &#8211; World's Richest Woman</h2>



Alice Walton is intrinsically linked to Walmart, inheriting her fortune as <a href="https://www.benzinga.com/news/politics/25/06/45916986/walmart-heiress-takes-on-trump-with-no-kings-ad-white-house-calls-it-burning-some-of-her-inheritance-for-a-pr-stunt">the daughter </a>of founder Sam Walton.&nbsp;



Despite periodic reductions in her direct holdings, she remains a major shareholder, with the Walton family controlling about 48% of Walmart's outstanding shares as of May 2025.&nbsp;



Her wealth is tightly correlated with Walmart's stock performance. Walmart&#8217;s stock experienced remarkable gains in 2025, posting a 19.24% year-to-date return through Oct.17, building on a strong 70% increase in 2024.&nbsp;



The increase in Walmart's share price has pushed Walton's personal fortune over the $100 billion mark to around $106 billion, according to Forbes.&nbsp;



<h2 class="wp-block-heading">Elon Musk &#8211; World's Richest Man</h2>



Musk's net worth is built on his outsized ownership of Tesla, with approximately 75% of his wealth sourced from TSLA stock and complemented by sizable stakes in SpaceX and other companies.&nbsp;



Tesla shares are up 82% over the past six months, but following a rocky start to 2025, the stock is only up 8% year-to-date. Musk continues to be the largest individual shareholder in Tesla.​



According <a href="https://www.forbes.com/sites/mattdurot/2025/10/01/elon-musk-just-became-the-first-person-ever-worth-500-billion/">to</a> Forbes, Musk passed the $500 billion mark in October, positioning him as the world's richest man and half-way to becoming the first-ever trillionaire.&nbsp;



<h2 class="wp-block-heading">The Takeaway</h2>



While both Walton and Musk benefit from large stock positions, Musk's record-breaking $500 billion fortune is nearly fivefold Walton's $106 billion.&nbsp;



The comparison highlights not only the sheer scale of contemporary wealth, but also the contrasting paths—one rooted in legacy retail, the other in disruptive tech—by which the richest individuals capitalize on stock market booms to redefine global wealth leadership.



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="http://benzinga.com/trading-ideas/movers/25/10/48179585/rigetti-d-wave-ionq-could-get-jpmorgans-support-quantum-stocks-take-off">Rigetti, D-Wave, IonQ Could Get JPMorgan&#8217;s Support—Quantum Stocks Take Off</a></li>
</ul>



Photo: Shutterstock

Move Over, Musk—The World's Richest Woman Joined the $100B Club

Legendary bond investor&nbsp;Bill Gross&nbsp;has advised caution regarding gold investments, despite its recent surge.



Gold prices have been on a searing rally in 2025 so far and have doubled since early 2024, soaring more than 56% year-to-date, rising from $2,712 per troy ounce at the beginning of 2025 to $4,249 on Saturday.



<h2 class="wp-block-heading">Gold Rally Overextended?</h2>



However, Gross suggested that the gold rally appears overextended, with prices dropping over 2% on Friday after reaching a record high. "Gold has become a momentum/meme asset. If you want to own it, wait awhile," Gross said 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">Regional bank "cockroaches" may continue to affect stocks AND bonds. 10 year Treasury has no business below 4% though 4.5% more like it — too much supply/deficits despite slowing, soon-to-be 1% growth economy. Gold has become a momentum/meme asset. If you want to own it, wait…&mdash; Bill Gross (@real_bill_gross) <a href="https://twitter.com/real_bill_gross/status/1979202043853332506?ref_src=twsrc%5Etfw">October 17, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The "Bond King" also expressed concerns over&nbsp;budget deficits and a slowing&nbsp;economy. He also highlighted Wall Street&#8217;s unease about potential issues in banks&#8217; loan portfolios.



According to&nbsp;Gross, recent disclosures from&nbsp;Zions Bancorporation NA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ZION">ZION</a>)&nbsp;and&nbsp;Western Alliance Bancorp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/WAL">WAL</a>) about troubled borrowers followed&nbsp;JPMorgan&nbsp;CEO&nbsp;Jamie Dimon&#8216;s warning about&nbsp;the collapse of auto lender&nbsp;Tricolor.



<h2 class="wp-block-heading">Regional Bank ‘Cockroaches' Impact On Stocks</h2>



Dimon referred to this as a &#8220;cockroach,&#8221; indicating more hidden problems. Gross predicted that regional bank issues might continue affecting stocks and bonds.



"Regional bank ‘cockroaches' may continue to affect stocks AND bonds. 10 year Treasury has no business below 4% though 4.5% more like it — too much supply/deficits despite slowing, soon-to-be 1% growth economy," Gross said.



While analysts do not see systemic problems, memories of the&nbsp;Silicon Valley Bank&nbsp;collapse caused stocks to fall on Thursday, briefly pushing&nbsp;the 10-year Treasury yield below&nbsp;4%.



Gross believes this reaction was exaggerated and expects yields to rise significantly above Friday&#8217;s close of around 4.01%, due to the federal government&#8217;s need to issue more debt amid slowing growth.



See Also:&nbsp;<a href="https://benzinga.com/crypto/cryptocurrency/25/10/48261459/this-solanas-code-points-to-a-rally-to-253-but-theres-a-catch" target="_blank" rel="noreferrer noopener">This Solana&#8217;s Code Points To A Rally To $253, But There&#8217;s A Catch</a>



<h2 class="wp-block-heading">Gross' Contrasting Opinion On Gold</h2>



The cautionary stance by Gross&nbsp;comes at a time when other financial heavyweights are making significant moves in the gold market.



Ed Yardeni, a market veteran, has recently increased his <a href="https://www.benzinga.com/markets/commodities/25/10/48043500/gold-price-forecasts-2026-5000-4000-record-highs-yardeni">price target for gold</a>, forecasting it to reach $5,000 by 2026 and $10,000 by 2030. This bullish outlook contrasts with Gross&#8217;s warning, highlighting the divided sentiment among experts.



Moreover,&nbsp;Ray Dalio, founder of Bridgewater Associates, has been a strong <a href="https://www.benzinga.com/markets/commodities/25/10/48278016/ray-dalio-bets-big-on-gold-in-2025-heres-how-much-his-hedge-fund-is-up-since-q2">advocate for gold investment</a>, with his fund seeing significant gains in 2025 due to the metal&#8217;s record high prices.



Dalio&#8217;s strategy of diversification, as discussed in <a href="https://www.benzinga.com/markets/macro-economic-events/25/09/47811901/ray-dalio-warns-of-very-very-dark-times-says-learning-to-diversify-my-bets-was-the-key-to-success-a-smart-rabbit-has-three-holes">a&nbsp;recent podcast</a>, underscores the uncertainty facing global economies, which he describes as entering &#8220;very, very dark times.&#8221;



Read Next:



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<li><a href="https://benzinga.com/news/travel/25/10/48292971/boeing-gets-faa-green-light-to-boost-737-max-output-after-alaska-airlines-door-plug-blowout" target="_blank" rel="noreferrer noopener">Boeing Gets FAA Green Light To Boost 737 Max Output After Alaska Airlines Door Plug Blowout</a></li>
</ul>



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



Photo courtesy: Shutterstock

Personal Finance

Bond King Bill Gross Says Gold Has Now Become A 'Momentum/Meme Asset:' 'If You Want To Own It…'

China's Ministry of State Security on Sunday accused the U.S. National Security Agency of carrying out long-term <a href="https://www.benzinga.com/tech/25/02/43759346/massive-data-breach-exposes-americans-financial-details-names-card-numbers-pins-and-more-at-risk">cyberattacks</a> on the country's National Time Service Center, saying it uncovered evidence of stolen data and credentials dating back to 2022, according to a statement posted on WeChat.



<h2 class="wp-block-heading">Smartphone Vulnerability Exploited</h2>



According to Reuters, the ministry said the NSA "exploited a vulnerability" in the messaging service of an unnamed foreign smartphone brand to access staff devices in 2022. The stolen credentials were then used to monitor employees' mobile devices and network systems.



<h2 class="wp-block-heading">Critical Infrastructure Impact</h2>



The ministry warned that such breaches could threaten communication networks, financial systems, power grids, and even international standard time. 



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The targeted center, part of the Chinese Academy of Sciences, is responsible for generating and broadcasting China's official time.



The National Security Agency did not immediately respond to <a href="https://www.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>‘s request for comment.



<h2 class="wp-block-heading">Network Attacks Continue</h2>



The investigation revealed that the U.S. carried out cyberattacks on internal network systems and attempted to target China's high-precision ground-based timing system in 2023 and 2024. 



<h2 class="wp-block-heading">Escalating Cyber Tensions</h2>



China and the U.S. have increasingly traded <a href="https://www.benzinga.com/news/24/12/42572310/china-accuses-us-of-cyber-espionage-and-theft-of-business-secrets-amid-rising-tensions">cyberattack accusations</a> in recent years, each portraying the other as its primary cyber threat. 



The accusations come amid renewed <a href="https://www.benzinga.com/markets/tech/25/06/45763345/amid-us-china-trade-war-global-automakers-warn-beijings-curbs-on-rare-earth-metals-could-significantly-impact-production">trade tensions </a>over China&#8217;s expanded rare earths export controls and U.S. threats to raise tariffs on Chinese goods.



In November 2024, <a href="https://www.benzinga.com/news/24/11/42154276/us-confronts-chinese-cyber-espionage-threat-worst-telecom-hack-in-our-nations-history">U.S. officials attributed cyberattacks</a> on AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/T">T</a>), Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/VZ">VZ</a>), and Lumen Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/LUMN">LUMN</a>) to Chinese hackers, a breach Sen. Mark Warner called &#8220;the worst telecom hack in our nation&#8217;s history.&#8221;



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Photo by Tomas Ragina via Shutterstock



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

Events

LUMN

China Accuses US Of Cyberattacks On National Time Center, Warns Of Threats To Financial Systems, Power Grid

Millions of Americans took to the streets on "No Kings Day," a nationwide protest denouncing President Donald Trump's leadership style and warning of what organizers called a growing threat to U.S. democracy.



<h2 class="wp-block-heading">Millions Rally Across US Against Trump's Alleged Authoritarianism</h2>



On Saturday, Rallies unfolded in dozens of cities, featuring marching bands, "We the People" banners, and protesters in inflatable frog costumes, a lighthearted but pointed display of resistance, <a href="https://www.theguardian.com/us-news/2025/oct/18/no-kings-protest-rally-republicans">reported</a> The Guardian.&nbsp;



Organizers described the movement as a defense of the Constitution against what they view as Trump's consolidation of power amid an ongoing government shutdown.



"They say they're referring to me as a king. I'm not a king," Trump told Fox News on Friday, dismissing claims of authoritarianism.&nbsp;



Later, a Trump campaign account mocked the protests with a computer-generated video showing the president in royal attire, waving from a balcony.



<h2 class="wp-block-heading">Republicans Stay Silent As Controversial Counter-Events</h2>



At a separate event in California, Vice President J.D. Vance and Defense Secretary Pete Hegseth attended a Marine Corps demonstration that drew controversy after live-fire exercises forced the closure of a major interstate.&nbsp;



"Firing live rounds over a busy highway isn't just wrong — it's dangerous," said Gov. Gavin Newsom (D-Calif.).&nbsp;



Despite earlier labeling the rallies "hate America" events, top Republicans, including House Speaker Mike Johnson, stayed quiet as the protests drew unexpectedly large crowds.



See Also:&nbsp;<a href="https://www.benzinga.com/news/politics/25/10/48189754/imf-chief-kristalina-georgieva-brushes-off-trumps-trade-war-threats-trade-is-like-water-you-put-in-an-obstacle-it-goes-around-it" target="_blank" rel="noreferrer noopener">IMF Chief Kristalina Georgieva Brushes Off Trump's Trade War Threats: ‘Trade Is Like Water, You Put In An Obstacle, It Goes Around It'</a>



<h2 class="wp-block-heading">Lawmakers Unite In Support Of &#8216;No Kings Day&#8217; Protests</h2>



Senate Minority Leader&nbsp;Chuck Schumer&nbsp;(D-N.Y.) urged Americans not to be intimidated by Trump or Republicans, emphasizing the importance of speaking out and defending democracy on "No Kings Day." 



<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 say to my fellow Americans this No Kings Day: Do not let Donald Trump and Republicans intimidate you into silence. That&#39;s what they want to do. They&#39;re afraid of the truth.  Speak out, use your voice, and exercise your right to free speech.&mdash; Chuck Schumer (@SenSchumer) <a href="https://twitter.com/SenSchumer/status/1979533834619154742?ref_src=twsrc%5Etfw">October 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



He highlighted that he marched in New York City alongside labor unions and citizens, stressing that America has no dictators and encouraging everyone to exercise their right to free speech in support of democratic values.



<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">Today as millions of Americans rally across this country for No Kings Day: I proudly marched side-by-side with labor unions and so many more of our fellow citizens in NYC.  We have no dictators in America. And we won't allow Trump to keep eroding our democracy. <a href="https://t.co/i0MZU6JI0k">pic.twitter.com/i0MZU6JI0k</a>&mdash; Chuck Schumer (@SenSchumer) <a href="https://twitter.com/SenSchumer/status/1979607076780290295?ref_src=twsrc%5Etfw">October 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<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">No Kings Day. New York City. We march together for this democracy. <a href="https://t.co/wpGHZOHIZx">pic.twitter.com/wpGHZOHIZx</a>&mdash; Chuck Schumer (@SenSchumer) <a href="https://twitter.com/SenSchumer/status/1979638198734332396?ref_src=twsrc%5Etfw">October 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Sen. Elizabeth Warren (D-Mass.)&nbsp;praised protesters for standing up against bullying and authoritarian tactics, invoking historical lessons from Boston.



<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">Donald Trump has badly miscalculated. Trump thought that doing one terrible thing after another would scare us, make us curl up into a little ball. He thought we would give up. Trump. Is. Wrong. Donald Trump is weak. He's a bully. And when we won't bow down to kings or to…&mdash; Elizabeth Warren (@ewarren) <a href="https://twitter.com/ewarren/status/1979656323676405765?ref_src=twsrc%5Etfw">October 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



"In America, there are no thrones. No crowns. And NO KINGS." She criticized Trump as a weak bully whose intimidation has failed.



<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">Boston knows a thing or two about kings. We know that in America, there are no thrones. No crowns. And NO KINGS. We've known since 1773 when Boston threw tea into the harbor. We've known since 1776 when Boston pushed King George's army out of our city. We've known since 1787…&mdash; Elizabeth Warren (@ewarren) <a href="https://twitter.com/ewarren/status/1979656317724774764?ref_src=twsrc%5Etfw">October 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Sen. Bernie Sanders (I-Vt.) called the turnout historic and framed it as just the beginning of a larger fight for democracy: "In America, We the People will rule."



<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">Thank you to the millions of Americans who turned out in small communities and big cities all over this country to say loudly and boldly: No more kings. In America, We the People will rule. <a href="https://t.co/L6OPUx99yd">pic.twitter.com/L6OPUx99yd</a>&mdash; Bernie Sanders (@BernieSanders) <a href="https://twitter.com/BernieSanders/status/1979628193138212964?ref_src=twsrc%5Etfw">October 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Senate Minority Leader Hakeem Jeffries (D-N.Y.) praised the peaceful "No Kings Day" protests, framing them as a patriotic response to Trump's leadership. 



<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">Peaceful protest against an out of control President is the American way. <a href="https://twitter.com/hashtag/NoKings?src=hash&amp;ref_src=twsrc%5Etfw">#NoKings</a> <a href="https://t.co/YXK3neMLV5">pic.twitter.com/YXK3neMLV5</a>&mdash; Hakeem Jeffries (@RepJeffries) <a href="https://twitter.com/RepJeffries/status/1979558348212056177?ref_src=twsrc%5Etfw">October 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Rep. John Larson (D-Conn.) joined "No Kings Day" in Glastonbury, emphasizing the protest as a defense of democracy over party politics and stating, "We the people won't be silenced by Donald Trump and his cronies."



<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">This morning in Glastonbury, we stood together for democracy. "No Kings Day" isn't about party, it's about principle. We the people won't be silenced by Donald Trump and his cronies. Together, our voices will be heard! <a href="https://t.co/ZafDstWlDj">pic.twitter.com/ZafDstWlDj</a>&mdash; Rep. John Larson (@RepJohnLarson) <a href="https://twitter.com/RepJohnLarson/status/1979578172556603888?ref_src=twsrc%5Etfw">October 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Rep. Adam Schiff (D-Calif.) thanked the millions of Americans participating in "No Kings Day" nationwide, praising their stand against authoritarianism.



<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">Thank you to the many millions who are showing up all over the country to say no to kings. <a href="https://t.co/lzS4fzBYct">pic.twitter.com/lzS4fzBYct</a>&mdash; Adam Schiff (@SenAdamSchiff) <a href="https://twitter.com/SenAdamSchiff/status/1979661259323900336?ref_src=twsrc%5Etfw">October 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



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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

Donald Trump Faces 'No Kings Day' Protests As Millions March Nationwide, GOP Stays Silent Amid Authoritarianism Claims

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