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Truist Finl

Based in Charlotte, North Carolina, Truist is the combination of BB&T and SunTrust. Truist is a regional bank with a presence primarily in the Southeastern United States. In addition to commercial banking, retail banking, and investment banking operations, the company operates several nonbank segments.

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Truist Financial Corporation Depositary Shares, Each Representing a 1/1,000th Interest in a Share of Series O Non-Cumulative Perpetual Preferred Stock

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In a novel approach to recruitment, the U.S. Navy has launched a Reddit-based puzzle game aimed at attracting Generation Z.
What Happened: The U.S. Navy has rolled out a Reddit-wide role-playing game to engage the next generation of submariners. The campaign, known as the Sub Reddit Hunt, will run until the end of October, <a href="https://www.forbes.com/sites/petersuciu/2024/10/05/us-navy-launched-subreddit-puzzle-game-to-attract-submariners/">reported</a> Forbes.
The game involves code-breaking and clue-finding to complete command directives and is part of a larger social media campaign targeting Gen Z.
The Navy, along with other military branches, has been increasingly creative in its recruitment strategies, particularly on social media platforms.
See Also: <a href="https://www.benzinga.com/markets/asia/24/10/41191924/chinese-ev-stocks-li-auto-byd-nio-to-benefit-from-rebound-analyst?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Chinese EV Stocks Li Auto, BYD, Nio To Benefit From Rebound: Analyst</a>
The Subreddit Hunt, developed by the agency VML, is designed to attract individuals with a knack for puzzles.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Dive deep into <a href="https://twitter.com/Reddit?ref_src=twsrc%5Etfw">@Reddit</a> with the <a href="https://twitter.com/USNavy?ref_src=twsrc%5Etfw">@USNavy</a> to decipher codes &amp; search for clues to complete command directives — an interactive marketing campaign designed to attract the next generation of submariners. Learn about &quot;Sub Reddit Hunt&quot;, an <a href="https://twitter.com/adage?ref_src=twsrc%5Etfw">@AdAge</a> Editor's Pick: <a href="https://t.co/b9Qh5yIa4k">https://t.co/b9Qh5yIa4k</a> <a href="https://t.co/x5k04XSYjj">pic.twitter.com/x5k04XSYjj</a>
&mdash; VML (@vml_global) <a href="https://twitter.com/vml_global/status/1841168778635137422?ref_src=twsrc%5Etfw">October 1, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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&#8220;To ensure we attract the very best and brightest future sailors, including submariners, the Navy is constantly seeking innovative ways to interact with prospective candidates on … social and digital platforms,&#8221; said Rear Admiral James P. Waters, commander of Navy Recruiting Command, in an announcement.
Earlier, secretary of the Navy Carlos Del Toro announced that the Navy had surpassed its fiscal year 2024 recruitment goals, bringing in 40,978 active-duty enlisted recruits, exceeding the target of 40,600, the report noted.
Why It Matters: The Navy&#8217;s innovative recruitment strategy is part of a broader trend of digital transformation within the military.
Earlier this year, the Navy installed Starlink on the USS Abraham Lincoln aircraft carrier to <a href="https://www.benzinga.com/news/24/08/40540432/us-navy-installs-starlink-on-uss-abraham-lincoln-aircraft-carrier-currently-in-the-middle-east-a-sup">improve operational</a> efficiency and crew morale.
The Navy also <a href="https://www.benzinga.com/top-stories/24/03/37969396/this-us-military-branch-just-trademarked-ai-use-what-it-could-mean">trademarked AI use</a> as it continues to explore artificial intelligence applications. Moreover, in a significant policy shift, the Navy <a href="https://www.benzinga.com/markets/cannabis/24/02/37068701/us-navy-overlooks-recruits-past-cannabis-use-to-reduce-boot-camp-dropouts-and-recruitment-challe">overlooked past cannabis use</a> in recruits to address recruitment challenges.
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<li><a href="https://www.benzinga.com/news/24/10/41199834/unreleased-m4-macbook-pro-shown-off-by-russian-youtuber-weve-seen-prototypes-leak-early-but-never-a?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Unreleased M4 MacBook Pro Shown Off By Russian YouTuber: &#8216;We&#8217;ve Seen Prototypes Leak Early But Never A Full Retail Apple Device Weeks In Advance,&#8217; Says Expert</a></li>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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US Navy Is Using A Puzzle On Reddit To Find 'Very Best And Brightest' Future Gen Z Submarine Crews — Here's How They Are Doing It

A Canadian trader, Christopher DeVocht, turned a modest investment into a staggering $306 million by betting on Elon Musk&#8216;s Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) stock. However, he <a href="https://www.benzinga.com/news/24/10/41141444/tesla-stock-plunges-3-despite-q3-deliveries-exceeding-consensus-and-growing-year-over-year">lost it all during the 2022 bear market</a> and is now suing the Royal Bank of Canada (RBC) and Grant Thornton, alleging &#8220;inadequate advice.&#8221;
What Happened: DeVocht, a carpenter from Vancouver Island, Canada, capitalized on the pandemic-induced stock surge, turning his C$88,000 (approximately $65,000) investment with RBC into a C$415 million (about $306 million) fortune by November 2021, <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-trader-lost-306-million-according-to-lawsuit-rbc-2024-10">reported</a> Business Insider.
However, DeVocht and his advisors chose to hold onto the stocks, resulting in significant losses during the 2022 bear market. DeVocht alleges that the advice he received from RBC and Grant Thornton was negligent and &#8220;inadequate,&#8221; contributing to his account&#8217;s staggering decline.
DeVocht&#8217;s advisors suggested incorporating a company and rolling his securities into it to reduce his tax liabilities from the massive gains he had on paper. 
He was also advised to make charitable donations to lower his tax liability, which further eroded his wealth. RBC also set up margin loan accounts for DeVocht to borrow against his concentrated Tesla stock position for spending purposes.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41177884/mark-cuban-an-ardent-kamala-harris-supporter-isnt-keen-on-elizabeth-warren-as-he-is-on-her?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban, An Ardent Kamala Harris Supporter, Isn&#8217;t Keen On Elizabeth Warren As He Is On Her Pro-Crypto GOP Rival: Here&#8217;s Why</a>
DeVocht&#8217;s lawsuit filing is an initial notice of claim and did not include evidence like brokerage account statements to prove his gains or losses.
Why It Matters: The Tesla stock has been a subject of significant market activity in recent times. In September, traders were looking at the next big catalyst for a bullish thesis, with three major events coming up in early October, including the <a href="https://www.benzinga.com/opinion/24/09/41013449/the-next-big-trade-is-teslas-october-triple-whammy">Fed&#8217;s meeting and first rate cut</a>.
Despite the <a href="https://www.benzinga.com/news/24/10/41141444/tesla-stock-plunges-3-despite-q3-deliveries-exceeding-consensus-and-growing-year-over-year">stock&#8217;s plunge in October</a>, Tesla&#8217;s third-quarter deliveries exceeded consensus and grew year-over-year. The company also <a href="https://www.benzinga.com/news/24/10/41205333/tesla-drops-rwd-variant-of-model-3-and-model-y-in-canada-following-us-strategy-replacing-them-with-l">dropped the rear-wheel drive (RWD) variants</a> of the Model 3 and Model Y in Canada, following a similar move in the U.S.
Analysts believe that Tesla&#8217;s highly anticipated Robotaxi Day could be a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41212796/tesla-robotaxi-day-preview-move-over-autonomous-vehicles-analyst-says-this-positive">significant catalyst for the stock</a>, with several unannounced items potentially driving the stock even further.
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<li><a href="https://www.benzinga.com/markets/equities/24/10/41200165/cathie-wood-predicts-trillion-dollar-revenue-opportunity-for-tesla-in-autonomous-vehicles-winner?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Cathie Wood Predicts Trillion Dollar Revenue Opportunity For Tesla In Autonomous Vehicles: &#8216;Winner-Takes-Most&#8217; In AI And Driving Tech</a></li>
</ul>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

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Tesla Trader's Wild Bet On Elon Musk's Company Ends In A $306M Lawsuit Spiral

On Monday, major U.S. indices saw declines, with the Dow Jones Industrial Average slipping 0.9% to 41,954.24, while the S&amp;P 500 dipped nearly 1% to 5,695.94. The Nasdaq dropped 1.2% to 17,923.90.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>)
Alibaba&#8217;s stock rose by 2.61% to close at $117.52. The stock reached an intraday high of $117.82 and a low of $113.37. Its 52-week high and low are $117.82 and $66.63 respectively. Alibaba&#8217;s stock <a href="https://www.benzinga.com/news/24/09/41089672/whats-going-on-with-alibaba-stock-on-monday">continued to rise</a> as China announced its stimulus plans last week, which included a cut in banks' reserve requirement ratio and a decrease in the seven-day reverse repurchase rate. 
Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)
Nvidia&#8217;s stock increased by 2.24% to close at $127.72. The stock hit an intraday high of $130.64 and a low of $124.95. Its 52-week high and low are $140.76 and $39.23 respectively. Nvidia&#8217;s GPU revenue could be at risk as China prioritizes <a href="https://www.benzinga.com/government/24/10/41204521/nvidias-gpu-sales-at-risk-as-china-pushes-local-ai-chips-in-retaliation">domestic AI chips</a>. 
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41200679/len-sassaman-is-bitcoin-creator-satoshi-nakamoto-in-hbo-documentary-polymarket-punters-see?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Len Sassaman Is Bitcoin Creator Satoshi Nakamoto In HBO Documentary? Polymarket Punters See High Probability</a>
Riot Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>)
Riot Platforms&#8217; stock surged by 3.95% to close at $8.16. The stock reached an intraday high of $8.52 and a low of $7.9. Its 52-week high and low are $18.75 and $6.36 respectively. The company&#8217;s CEO <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41211430/riot-platforms-explores-ai-opportunities-while-staying-focused-on-bitcoin-mining">expressed interest in AI opportunities</a> while maintaining a focus on Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) mining. 
Celsius Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CELH#NASDAQ">CELH</a>)
Celsius Holdings&#8217; stock fell by 4.73% to close at $28.82. The stock hit an intraday high of $30.42 and a low of $28.79. Its 52-week high and low are $99.62 and $28.79 respectively. Celsius shares dropped to <a href="https://www.benzinga.com/news/24/10/41216891/celsius-holdings-stock-hit-52-week-lows-on-monday-whats-going-on">new 52-week lows</a> on Monday as the company faces slowing growth trends and weaker consumer spending. Analysts have downgraded the stock, with PepsiCo scaling back orders, contributing to further declines. Despite the stock's downturn, Celsius announced the launch of two new flavors under its Essentials line, expected in early 2024.
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla&#8217;s stock dropped by 3.70% to close at $240.83. The stock reached an intraday high of $249.83 and a low of $240.7. Its 52-week high and low are $271 and $138.8 respectively. Investors are eagerly awaiting Tesla&#8217;s<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41198872/teslas-we-robot-event-will-likely-feature-robotaxi-25k-ev-and-optimus-updates-says-"> &#8220;We, Robot&#8221; event</a> scheduled for Thursday. 
Photo by WHYFRAME on Shutterstock
Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> by Benzinga.
Read Next: 
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<li><a href="https://www.benzinga.com/news/earnings/24/10/41201502/dow-jumps-over-300-points-as-tesla-amazon-and-netflix-record-gains-investor-optimism-improves-fear-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dow Jumps Over 300 Points As Tesla, Amazon And Netflix Record Gains: Investor Optimism Improves, Fear Index Remains In &#8216;Greed&#8217; Zone</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

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Alibaba, Nvidia, Riot Platforms, Celsius Holdings, Tesla: Why These 5 Stocks Are On Investors' Radars Today

Leading cryptocurrencies pulled back Monday, matching the decline in stocks, as geopolitical tensions mounted.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:30 p.m. EDT)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-0.61%</td>
<td>$62,482.57</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-0.81%</td>
<td>$2,436.34</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-2.46%</td>
<td>$0.109</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin retreated sharply after sailing as highs as $64,400 during early trading hours. The leading cryptocurrency plummeted to the early $62,000s by evening.&nbsp;
Ethereum mirrored the above trajectory, spiking above $2,500 in the morning, to later fall to $2,400 after the stock market closed.
Cryptocurrency liquidations surged, exceeding $214 million in the last 24 hours. Over $140 million placed on bullish bets was wiped out.
The Open Interest in Bitcoin futures dropped 2.87%, further indicating the liquidation of long positions.
The Cryptocurrency Fear &amp; Greed remained in the "Neutral" zone, indicating a balance between market forces.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:30 p.m. EDT)</td>
</tr>
<tr>
<td>First Neiro On Ethereum (NEIRO)</td>
<td>+18.27%</td>
<td>$0.001657</td>
</tr>
<tr>
<td>Cat in a dogs world (MEW)</td>
<td>+15.35%</td>
<td>$0.007216</td>
</tr>
<tr>
<td>Sui (SUI)</td>
<td>+8.78%</td>
<td>$2.04</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency stood at $2.17 trillion, following a contraction of 0.61% in the last 24 hours.
Stocks retreated Monday after closing last week on a high. The Dow Jones Industrial Average fell 398.51 points, or 0.94%, to end at 41,954.24. The S&amp;P 500 slipped 0.96% to close at 5,695.94, while the tech-heavy Nasdaq Composite reversed 1.18%, finishing the session at 213.95.
Traders assessed the economic and geopolitical implications of escalating <a href="https://www.benzinga.com/topic/middle-east">tensions in the Middle East.</a>
West Texas Intermediate (WTI) crude <a href="https://www.benzinga.com/markets/equities/24/10/41213960/stocks-slip-as-oil-prices-surge-10-year-yields-cross-4-energy-sector-outperforms-whats-driving-m">rose</a> nearly 3% to $77 a barrel earlier in the day, spurred by concerns over Israel's attack on Iran's oil facilities. Additionally, the benchmark 10-year Treasury yields shot past 4% for the first time since the last week of July.
Investors now awaited the release of FOMC minutes from the Federal Reserve's September policy meeting, due for release on Wednesday, and the Consumer Price Index data, slated for Thursday.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Noted cryptocurrency analyst and trader Rekt Capital stated that Bitcoin was poised to continue its upward momentum with a daily close above $64230
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> It&#39;s very likely Bitcoin will just need a Daily Close above ~$64230 (purple) to further build on its current momentum to the upside<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/xOy9k84Dpf">https://t.co/xOy9k84Dpf</a> <a href="https://t.co/uWn6xaNA4H">pic.twitter.com/uWn6xaNA4H</a>
&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1843296571628331214?ref_src=twsrc%5Etfw">October 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Widely-followed cryptocurrency researcher Ali Martinez highlighted the possibility of Ether's rally toward $6,000, given it maintains support above $2,300.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This is a pivotal moment for <a href="https://twitter.com/hashtag/ETH?src=hash&amp;ref_src=twsrc%5Etfw">#ETH</a>! If <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> maintains support above $2,300, a new rally toward $6,000 could be on the horizon. But if <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> loses this level, a drop to $1,600 might be next. <a href="https://t.co/v5uwf8a5Un">pic.twitter.com/v5uwf8a5Un</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1843392605486510590?ref_src=twsrc%5Etfw">October 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
To the contrary, he pointed out the risk of diving to even $1,600 if Ether fails to maintain the key support level.
The significance could be gauged by the fact that nearly 2.77 million addresses bagged 52.65 million Ether at the aforementioned level.
<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 most significant support level for <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> is at $2,300, where 2.77 million addresses bought 52.65 million <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>! <a href="https://t.co/dgwHOvo20L">pic.twitter.com/dgwHOvo20L</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1843449731634344106?ref_src=twsrc%5Etfw">October 8, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo by SvetlanaParnikova on Shutterstock
Read Next:    
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41211662/whoosh-viral-baby-hippo-moondeng-surges-380-after-vitalik-buterin-sells-his-stack-and-dona">Whoosh! Viral Baby Hippo Moodeng Surges 380% After Vitalik Buterin Sells His Stack And Donates $642K To Charity</a></li>
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Bitcoin, Ethereum, Dogecoin Reverse As Stocks Come Under Pressure Amid Rising Geopolitical Tensions: ETH Could Rally To $6K If This Happens, Says Popular Analyst

Samsung Electronics (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) has issued a warning, predicting a significant drop in third-quarter profits, due to various factors including one-time costs and a <a href="https://www.benzinga.com/news/24/09/40812318/samsung-to-reportedly-slash-global-workforce-by-up-to-30-in-certain-divisions-amid-intense-competiti">surge in supply from Chinese rivals</a>.
What Happened: On Tuesday, the South Korean tech giant announced an estimated operating profit of approximately 9.10 trillion won ($7.6 billion) for the quarter ending in September. This represents a 274% increase from the previous year&#8217;s 2.43 trillion won.
The company&#8217;s memory business has been impacted by &#8220;one-time costs and negative effects,&#8221; which include inventory adjustments by mobile customers and an increase in the supply of legacy products by Chinese memory companies, Samsung stated.
See Also: <a href="https://www.benzinga.com/news/24/10/41201646/mark-cuban-now-supporting-donald-trump-billionaire-investor-who-endorses-kamala-harris-for-2024-elec?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Now Supporting Donald Trump? Billionaire Investor Who Endorses Kamala Harris For 2024 Election Posts Cryptic Throwback Picture With Ex-President</a>
These memory chips are used in devices such as laptops and servers, and Samsung is the leading manufacturer of these chips. The company is also the world&#8217;s second-largest player in the smartphone market.
Furthermore, the company reported that shipments of HBM3E chips to major customers were delayed. In August, it was reported that Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) <a href="https://www.benzinga.com/news/24/08/40227015/nvidia-greenlights-samsungs-fifth-gen-hbm3e-chips-for-ai-processors-report">successfully tested and approved</a> Samsung Electronics' fifth-generation high bandwidth memory chips, known as HBM3E, for use in its artificial intelligence processors.
Price Action: Following the release of the earnings guidance, Samsung&#8217;s share price, which has already fallen by more than 24.12% year-to-date, dropped by an additional 0.7%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/news/24/10/41169360/elon-musk-paid-1-million-for-a-1976-car-that-inspired-cybertrucks-design-seller-originally-bought-it?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Paid $1 Million For A 1976 Car That Inspired Cybertruck&#8217;s Design – Seller Originally Bought It For Just $100 In A Storage Unit Sale</a>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

SSNLF

Samsung Warns Of Q3 Profit Drop Amid Shipment Delays Of AI Chip Approved By Nvidia

Following <a href="https://www.benzinga.com/news/large-cap/24/10/41217379/google-must-open-play-store-to-competitors-judge-orders">the antitrust verdict</a>, Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google has made moves to halt changes proposed by Epic Games.
What Happened: In a blog post on Monday, Google said that it is appealing the court&#8217;s decision which requires it to open its Play Store to third-party marketplaces.
Google is also requesting the court to suspend the Fortnite-maker&#8217;s demands to distribute competing app stores and modify its payment system.
This approach mirrors Apple Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) tactics during its legal dispute with Epic last year.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/41084112/mark-zuckerberg-says-orion-is-probably-going-to-be-the-next-major-platform-after-phones-metas-new-ar?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Says, Orion &#8216;Is Probably Going To Be The Next Major Platform After Phones&#8217; — Meta&#8217;s New AR Wearables Real-Life Tony Stark Glasses In The Making?</a>
The tech giant argued that the ruling contradicts another court&#8217;s dismissal of similar claims Epic lodged against Apple.
In its appeal, Google will contend that Android is not a standalone market but is in direct competition with Apple&#8217;s iOS. 
&#8220;Android has helped expand choice, reduce prices and democratize access to smartphones and apps. The initial decision and today's Epic-requested changes put that at risk and undercut Android's ability to compete with Apple's iOS,&#8221; the company said.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: The creator of the globally popular game Fortnite,&nbsp;<a href="https://www.benzinga.com/general/gaming/24/09/41098067/epic-games-files-new-antitrust-lawsuit-against-google-samsung-over-app-store-restrictions">filed a new antitrust lawsuit</a> against Google and Samsung last month, accusing them of antitrust violations.
Epic alleged that the two tech giants conspired to shield the Google Play Store from competition, significantly limiting consumer choice.
The lawsuit centers on Samsung's Auto Blocker feature, which Epic claims was designed to deter users from downloading apps from sources other than Google's Play Store or Samsung's Galaxy Store.
In response to the lawsuit, Samsung released a statement rejecting Epic's allegations as without merit.
Photo by Lets Design Studio Shutterstock
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/10/41181916/mark-cuban-offers-to-help-elon-musk-boost-x-revenue-says-tesla-ceo-is-concerned-about-declining-user?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Offers To Help Elon Musk Boost X Revenue, Says Tesla CEO Is Concerned About Declining Users: &#8216;I Wish He Would Call Me&#8217;</a></li>
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

AAPL

GOOG

GOOGL

Google Will Continue To Fight Epic Games In Court To Halt Epic-Requested Changes To Play Store: 'Undercut Android's Ability To Compete With Apple's iOS'

Tucker Carlson shared an interview with Elon Musk on Monday, in which the owner of X and the CEO of SpaceX and Tesla touched on the topic of Jeffrey Epstein and his client list. He also talked about Sean John Combs, also known by his stage name &#8220;Diddy.&#8221; 
What Happened: In the interview, Musk suggested that certain billionaires are backing Kamala Harris due to their fear of Donald Trump releasing the Epstein Client list. &#8220;Some of those billionaires behind Kamala are terrified of a Trump win,&#8221; Musk said. He also implied that venture capitalist Reid Hoffman and Microsoft co-founder Bill Gates are among those feeling uneasy.
Musk told Carlson &#8220;I&#8217;d like to see a matchup of the top 100 puppet masters [of Kamala Harris] and the Epstein client list.&#8221; The entrepreneur suggested that there is a strong overlap between the two lists.
He said that it was &#8220;mindblowing&#8221; that they&#8217;ve not tried to prosecute even one person on the Epstein client list. &#8220;Not even the worst offender on the Epstein client list,&#8221; said Musk.
Musk contrasted this with the January 6. rioters and their treatment. He said 500-600 of &#8220;protestors&#8221; were imprisoned.
&#8220;I think a part of why Kamala is getting so much support is that if Trump wins that Epstein client list is about to become public and some of the billionaires behind Kamala are terrified of that outcome.&#8221;
He was then asked if Hoffman was uncomfortable, to which he replied, &#8220;Yes, and Gates.&#8221; 
Musk also told Carlson that there were thousands of hours of video footage involving various people between Epstein and Diddy. He said that the rooms on Epstein&#8217;s island were wired for video.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Elon Musk is all in. (0:00) Elon Musk Is All in on Donald Trump (6:35) Providing Starlink to Victims of Hurricane Helene (9:22) If Trump Loses, This Is the Last Election (21:49) The Epstein and Diddy Client List (33:38) Vaccines (35:49) The Movement to Decriminalize Crime… <a href="https://t.co/jNqB1ThqQz">pic.twitter.com/jNqB1ThqQz</a>
&mdash; Tucker Carlson (@TuckerCarlson) <a href="https://twitter.com/TuckerCarlson/status/1843375397024485778?ref_src=twsrc%5Etfw">October 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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See Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41207561/desantis-state-of-florida-under-fire-for-taxpayer-funded-anti-cannabis-ad-as-new-lawsuit-emerges?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">DeSantis, State Of Florida Under Fire For Taxpayer-Funded Anti-Cannabis Ad As New Lawsuit Emerges</a>
Why It Matters: Musk&#8217;s comments add another layer to the ongoing political discourse. His support for Trump has been evident, as seen in his <a href="https://www.benzinga.com/news/24/10/41198624/elon-musk-urges-rally-crowd-vote-for-trump-to-save-democracy">recent rally appearances</a>. He has also criticized the Democratic Party, accusing them of <a href="https://www.benzinga.com/news/24/10/41197236/elon-musk-and-trump-address-thousands-at-site-of-failed-assassination-attempt-take-aim-at-bidens-lea">infringing upon citizens&#8217; fundamental rights</a>.
Musk&#8217;s admiration for Trump&#8217;s online presence has been <a href="https://www.benzinga.com/news/23/08/34017053/elon-musk-reacts-to-trumps-interview-with-tucker-carlson-on-x-has-written-some-of-the-funniest-posts">previously noted</a>, and he has highlighted the <a href="https://www.benzinga.com/general/23/09/34792655/elon-musk-says-tucker-carlsons-show-is-getting-more-views-than-the-population-of-the-united-states-n">popularity</a> of Tucker Carlson&#8217;s show on the X platform since the host left the Fox Network.
Image via Shutterstock
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Politics

General

Elon Musk Says Billionaires Supporting Kamala Harris Are Scared Epstein List Will Be Made Public If Trump Returns To Power — Bill Gates Will Be Nervous

In a recent development, Florida Governor Ron DeSantis (R) has denied knowledge of any calls made by Vice President Kamala Harris in the aftermath of Hurricane Helene, despite numerous reports suggesting otherwise.
What Happened: DeSantis claimed ignorance of Harris&#8217;s calls during a press conference about the upcoming Hurricane Milton. &#8220;I didn't know she called me. … I was not aware of that,&#8221; he said. An aide to DeSantis, quoted by <a href="https://www.nbcnews.com/">NBC News</a>, suggested the calls &#8220;seemed political,&#8221; reported The Hill.
DeSantis also denied having any conversation with President Joe Biden, but expressed gratitude for the President&#8217;s approval of their requests. &#8220;If there's something we need that they don't approve, I will not hesitate to call him,&#8221; DeSantis added.
VP Harris criticized the politicization of emergency situations when questioned about DeSantis&#8217;s alleged refusal of her calls. &#8220;Playing political games with this moment, in these crisis situation[s], these are the height of emergency situation[s], [is] utterly irresponsible,&#8221; she said, according to the report.
See Also: <a href="https://www.benzinga.com/news/24/10/41207998/kim-jong-un-orders-constitutional-changes-north-korea-set-to-remove-unification-clauses-in-key-parli?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Kim Jong Un Orders Constitutional Changes: North Korea Set To Remove Unification Clauses In Key Parliamentary Session</a>
Why It Matters: This development comes as Florida grapples with the aftermath of Hurricane Helene and <a href="https://www.benzinga.com/news/24/10/41198558/after-helene-florida-gears-up-for-another-devastating-hurricane">braces for another major hurricane</a>, Milton. The state is facing its second storm in less than two weeks, with potential impacts on various sectors, including theme parks and insurance companies.
This is not the first time DeSantis and Harris have clashed. In July 2023, DeSantis accused Harris of creating &#8220;<a href="https://www.benzinga.com/news/23/07/33482892/ron-desantis-accuses-kamala-harris-of-picking-fight-over-floridas-slavery-curriculum-says-left-weavi">phony narratives</a>&#8221; over Florida&#8217;s controversial slavery curriculum.
Photo via Shutterstock.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Ron Desantis Denies Ignoring Kamala Harris's Calls Amid Hurricane Emergency: 'I Didn't Know She Called Me...I Was Not Aware Of That'

Billionaire entrepreneur and Dallas Mavericks owner&nbsp;Mark Cuban has shed light on the future of linear television and streaming platforms, highlighting the crucial <a href="https://www.benzinga.com/general/sports/24/06/39215473/amazon-makes-prime-bet-on-sports-with-nba-deal-streaming-platform-will-have-content-from-4-major-l">role of sports media rights</a>.
What Happened: Last month, during&nbsp;an episode of Club Shay&nbsp;Shay, Cuban conversed with host Shannon Sharpe about the evolution of streaming platforms and the future of media.
Cuban, who had anticipated the rise of streaming platforms like Netflix Inc. and Alphabet Inc.&#8217;s YouTube, stated, &#8220;We were YouTube before YouTube &#8230; It was hard to do, but in hindsight, I was shocked no one else had done it before.&#8221;
Referring to Broadcast.com, he detailed how he and his partner Todd Wagner initiated with audio and gradually transitioned to video, acquiring rights from radio stations and sports leagues.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/10/41200026/chinese-hackers-breach-at-t-verizon-networks-in-major-wiretap-data-theft-putting-us-national-securit?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Chinese Hackers Breach AT&amp;T, Verizon Networks In Major Wiretap Data Theft Putting US National Security At Risk: Report</a>
He pointed out that the future of linear television is facing challenges, with networks like ESPN witnessing a significant drop in subscriber numbers.
&#8220;Now the linear stations are trying to do all sports … That's their angle,&#8221; he said.
Citing how streaming platforms like Amazon and Peacock are now <a href="https://www.benzinga.com/general/entertainment/23/11/36032435/amazon-grabs-more-live-sports-rights-with-nascar-deal-why-its-important">carving out pieces of the sports market</a>, Cuban spoke about the importance of sports in keeping linear TV alive.
He believes the current TV model, particularly the high costs of cable and satellite, is unsustainable and that streaming will continue to dominate in the future unless the networks find a way out of it.
&#8220;It costs more to get a linear television network than just streaming … That's not going to stick around forever,&#8221; Cuban said.
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<iframe loading="lazy" title="Mark Cuban On Illuminati, Klay Thompson Picking Mavericks Over Lakers, Luka, Kyrie, NBA &amp; Shark Tank" width="500" height="281" src="https://www.youtube.com/embed/0DAVdTTgGcU?start=1603&#038;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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Why It Matters: Cuban&#8217;s foresight into the rise of streaming platforms dates back to the late 1990s when he and his business partner pioneered online streaming with their company Broadcast.com.
The company offered streaming audio and video long before YouTube and other platforms existed. Their innovative venture caught the attention of internet giant Yahoo, leading to a massive acquisition <a href="https://www.benzinga.com/startups/24/08/40423294/heres-how-mark-cuban-protected-his-1-4-billion-fortune-from-the-2000-dot-com-crash-one-of-the-top-10">deal worth $5.7 billion in stock</a>.
This helped Cuban reach billionaire status because he owned about a third of the company.
The billionaire, known for his role on Shark Tank, currently has a net worth of $7.76 billion, according to the Bloomberg Billionaire <a href="https://www.bloomberg.com/billionaires/">Index</a>.
Cuban has <a href="https://www.benzinga.com/startups/24/08/40636539/the-luckiest-guy-in-the-world-mark-cuban-net-worth-2024-how-much-does-he-earn-what-does-he-own">profited from various successful ventures</a>, including his latest startup, Mark Cuban Cost Plus Drug Co., which aims to lower prescription drug costs.
The company attracted 1.5 million customers in its first year and is projected to turn a profit in 2023.
In addition, Cuban has invested in media companies such as Magnolia Pictures and AXS TV, as well as about 85 startups, many of which he discovered through his involvement with Shark Tank.
Image via Shutterstock
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Mark Cuban On How TV Will Evolve In The Future, Says He Saw The Rise Of Netflix-Like Platforms Before They Existed: 'We Were YouTube Before YouTube'

Trading Halt: Halted at 7:50:00 p.m. ET - Trading Halt: Halt News Pending

ETF HITS HIGH OF THE DAY AT 1:59 PM EDT AFTER SIGNAL AT 10:36 AM EDT
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="831" height="800" src="https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/07201500/Screen-Shot-2024-10-07-at-4.15.02-PM.png" alt="" class="wp-image-2078" style="width:624px" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/07201500/Screen-Shot-2024-10-07-at-4.15.02-PM.png 831w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/07201500/Screen-Shot-2024-10-07-at-4.15.02-PM-300x289.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/07201500/Screen-Shot-2024-10-07-at-4.15.02-PM-768x739.png 768w" sizes="(max-width: 831px) 100vw, 831px" /></figure>
GraniteShares 2x Long NDVA , (NVDL) today experienced a Power Inflow, a significant event for those who follow where smart money goes and value order flow analytics in their trading decisions.&nbsp;
Today, at 10:36 AM on October 7th, a significant trading signal occurred for GraniteShares 2x Long NDVA, (NVDL) as it demonstrated a Power Inflow at a price of $62.93. This indicator is crucial for traders who want to know directionally where institutions and so-called "smart money" moves in the market. They see the value of utilizing order flow analytics to guide their trading decisions. The Power Inflow points to a possible uptrend in Amazon&#8217;s stock, marking a potential entry point for traders looking to capitalize on the expected upward movement. Traders with this signal closely watch for sustained momentum in Amazon&#8217;s stock price, interpreting this event as a bullish sign.
Signal description
Order flow analytics, aka transaction or market flow analysis, separates and studies both the retail and institutional volume rate of orders (flow). It involves analyzing the flow of buy and sell orders, along with size, timing, and other associated characteristics and patterns, to gain insights and make more informed trading decisions. This particular indicator is interpreted by active traders as a bullish signal.&nbsp;
The Power Inflow occurs within the first two hours of the market open and generally signals the trend that helps gauge the stock&#8217;s overall direction, powered by institutional activity in the stock, for the remainder of the day.&nbsp;
By incorporating order flow analytics into their trading strategies, market participants can better interpret market conditions, identify trading opportunities, and potentially improve their trading performance. But let's not forget that while watching smart money flow can provide valuable insights, it is crucial to incorporate effective risk management strategies to protect capital and mitigate potential losses. Employing a consistent and effective risk management plan helps traders navigate the uncertainties of the market in a more controlled and calculated manner, increasing the likelihood of long-term success
If you want to stay updated on the latest options trades for NVDL, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.&nbsp;
<a href="https://benzinga.com/apis?_gl=1&#x2A;1hlgn5i&#x2A;_ga&#x2A;MTY1NjE2NTYxMi4xNzE0NzQ4MTAy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDc0ODEwMi4xLjEuMTcxNDc0ODQyOC4wLjAuMA..">Market News and Data are brought to you by Benzinga APIs</a> and include firms, like <a href="https://finitusa.com/en/">Finit USA</a>, responsible for parts of the data within this article. 
&#xA9; 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
After Market Close UPDATE:
The price at the time of the Power Inflow was $62.93. The returns on the High price ($66.71) and Close price ($63.92) after the Power Inflow were respectively 6.0% and 1.6%. That is why it is important to have a trading plan that includes Profit Targets and Stop Losses that reflect your risk appetite. In this case, the high of the day was much higher than the price at the market close.
Past Performance is Not Indicative of Future Results

Signals

ETFs

Tradepulse Power Inflow Alert: NVDL, Graniteshares 2X Long NVDA Daily ETF Rises 6% After Signal

Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) is having its Robotaxi Day this week. The &lsquo;We, Robot&rsquo; event will be held on October 10th&nbsp;in Hollywood as Tesla booked the massive&nbsp;Warner Bros. Discovery Inc. Studios to unveil its latest model. Considering the impressive venue and the fact&nbsp;that Tesla had delayed this&nbsp;event in order to make some important changes, expectations are high and there are many speculations of what the EV king plans to unveil, the day promises to be &quot;one&nbsp;for the history books&quot;.
Optimizing the charging process.&nbsp;
Yet, the week got kicked off by Nissan Motor Co Ltd (OTC: <a class="ticker" href="https://www.benzinga.com/stock/nsany#OTC">NSANY</a>)&nbsp;deciding to join Bayerische Motoren Werke Aktiengesellschaft (OTC: <a class="ticker" href="https://www.benzinga.com/stock/bmwyy#OTC">BMWYY</a>), Ford Motor (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/f#NYSE">F</a>), and Honda Motor Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hmc#NYSE">HMC</a>), or more precisely the trio&rsquo;s EV integration joint venture.&nbsp;Through its investment, Nissan revealed it will become an equal 25% investor&nbsp;in ChargeScape. BMW and Honda had presented ChargeScape&rsquo;s software that optimizes charging. Through ChargeScape, BMW, Honda, Ford and now Nissan, will provide bidirectional charging, allowing EVs to send power back to the grid when needed, while optimizing the charging process by coordinating with real-time grid demands. Also, BMW, Ford, Honda and Nissan will be providing financial incentives to EV owners to reduce energy use during peak times.&nbsp;
Bringing more clean energy to the EV table.
Having already established a reputation for its &lsquo;made-in-the-USA&rsquo; hybrid and clean energy solutions for light trucks, Worksport Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wksp#NASDAQ">WKSP</a>) is preparing for a market release of its solar-powered tonneau cover, SOLIS&nbsp;&nbsp;and the COR portable energy system. This clean energy power duo that promises off-grid power on the go has the potential to propel Worksport&rsquo;s mid to long-term revenues. Worksport already has an ongoing collaboration with Hyundai who secured access to these groundbreaking accessories. Also, Worksport will be releasing one of the most in-demand tonneau cover models, AL4 premium tonneau Cover, in the fourth quarter, with innovative four-fold design that offers enhanced functionality and ease of the use. By launching three new product lines, Worksport is aiming to strengthen its positioning and expand market reach. In the fourth quarter, Worksport will also be implementing cost-saving measures to&nbsp;enhance margins and&nbsp;lower operational overhead&nbsp;without compromising growth. With these key strategic advances that will undoubtedly accelerate revenue growth and boost margings, Worksport is aiming for&nbsp;cash flow positivity un 2025.&nbsp;
While Tesla still holds the EV crown, long gone are the days it had the EV throne to itself. Besides already sharing the crown with BYD Company Limited (OTC: <a class="ticker" href="https://www.benzinga.com/stock/byddy#OTC">BYDDY</a>) on some fronts, both traditional automakers and newcomers are also shaping the EV landscape that is in the making, such as Worksport whose SOLIS and COR off-grid clean power duo promises to revolutionize the pickup experience altogether.&nbsp;
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

Penny Stocks

BMWYY

BYDDY

NSANY

WKSP

The EV Evolution Goes On With New Developments

In a recent conversation with Chris Wallace on CNN Max, <a href="https://www.benzinga.com/personal-finance/24/09/40963028/suze-orman-says-keep-your-car-for-15-years-or-longer-instead-of-leasing-a-new-one-every-3-years-">Suze Orman</a> highlighted that while the stock market is performing well, it doesn't reflect how most American households are really doing financially. 
"What if I were to tell you that 75% of the people in the United States don&#8217;t have $400 to their name in case of an emergency?" Orman said, describing the financial situation of ordinary Americans as &#8220;really, really bad.&#8221;
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Although we often use the stock market to measure <a href="https://www.benzinga.com/personal-finance/24/06/39565555/suze-orman-breaks-on-the-overall-economy-vs-an-individual-economy-says-on-an-individual-level-i-">economic health overall</a>, Orman emphasizes that it doesn't reliably tell us how the everyday American is doing. &#8220;On the whole, ordinary human beings in America today are living paycheck to paycheck and they&#8217;re not doing well at all," she explained.&nbsp;
As household debts rise and reliance on credit cards increases, it's clear that individuals may be in a deeper financial crisis. Last summer, <a href="https://www.benzinga.com/personal-finance/24/08/40420920/we-have-the-highest-credit-card-debt-in-the-history-of-earth-says-grant-cardone-america-needs-to">U.S. credit card debt</a> surpassed $1 trillion for the first time, a milestone that Orman pointed to as a symptom of a much larger issue.
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Even as some sectors of the economy show strength, Orman made it clear that inflation makes it difficult for most Americans to keep up. Wallace, taken aback by Orman's statistics, asked her to elaborate on what she described as a "financial pandemic."
"We're in a pandemic in that there isn't a financial vaccine to cure this," Orman explained, adding that the crisis won't be resolved by external forces. The only way forward, she argues, is for individuals to take responsibility for their financial well-being. "The government's not gonna save them. The economy is not gonna save them. They&#8217;re gonna have to be their own financial vaccine so to speak."
<hr class="wp-block-separator has-alpha-channel-opacity" />
Trending: Founder of Personal Capital and ex-CEO of PayPal<a href="https://www.benzinga.com/money/evergreen-money"> re-engineers traditional banking with this new high-yield account — start saving better today.</a>
<hr class="wp-block-separator has-alpha-channel-opacity" />
Orman's stark warning reflects a growing disconnect between market performance and individual financial health. While stock market gains might boost portfolios for wealthier Americans, many face difficult choices, living paycheck to paycheck with little to no safety net.
A recent MarketWatch survey corroborates Orman, stating that nearly two-thirds of Americans feel like they are living paycheck to paycheck. The report statistics were pulled by nearly 48% of people earning $100,000 or more annually and 36% earning $200,000 or more.
In response to this crisis, Orman has cofounded SecureSave, a business that addresses one critical component of personal finance: <a href="https://www.benzinga.com/personal-finance/24/08/40531988/you-dont-need-emergency-savings-says-grant-cardone-claims-that-three-months-of-savings-in-case-o">emergency savings</a>. Through this business, Orman hopes to help people build a financial cushion that can protect them in times of need.
<hr class="wp-block-separator has-alpha-channel-opacity" />
Trending: Beating the market through ethical real estate investing' — <a href="https://www.benzinga.com/money/invest-with-roots">this platform aims to give tenants equity in the homes they live in while scoring 17.17% average annual returns for investors – here&#8217;s how to join with just $100</a>
<hr class="wp-block-separator has-alpha-channel-opacity" />
"The goal of money is for you to be secure," Orman told Wallace. She explained that SecureSave partners with employers to allow workers to automatically save a portion of their paycheck, making it easier to build an emergency fund without thinking too much about it.
With the program, employees can save small amounts, such as $25 per paycheck, and some employers offer to match a portion of those contributions. &#8220;Within a year period of time, they have about $1,000,&#8221; Orman noted, adding that the goal isn't to amass large sums right away but rather to establish a savings habit that can lead to bigger habits like saving for retirement.
<hr class="wp-block-separator has-alpha-channel-opacity" />
Trending: The global games market is projected to generate $272B by the end of the year — <a href="https://www.benzinga.com/money/gameflip" target="_blank" rel="noreferrer noopener">for $0.55/share, this VC-backed startup with a 7M+ userbase gives investors easy access to this asset market.</a>
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These emergency savings accounts are FDIC-insured and employees can access the money whenever needed.&nbsp;
The stock market may be doing well, which is great for retirement and investment accounts, but many people don't have the basics of emergency savings. Orman's message is that security doesn't come from market gains – not that it can't help – but from building healthy financial habits like emergency savings that can provide stability in uncertain times.&nbsp;
If you're facing financial uncertainty and unsure where to start building security with your own finances, consider speaking with a <a href="https://www.benzinga.com/money/best-online-financial-advisors">financial advisor</a>. They will offer advice tailored to your unique situation and help you determine a plan that matches your financial goals. 
Editor&#8217;s note: This story has been updated with additional details. 
Read Next:
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<li>Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/red-ventures"> The percentage may shock you</a>.</li>
<li>Amid the ongoing EV revolution, previously overlooked low-income communities <a href="https://www.benzinga.com/money/dunamis-1" target="_blank" rel="noreferrer noopener">now harbor a huge investment opportunity at just $500.</a></li>
</ul>

Personal Finance

Suze Orman Says The Personal Finance Of Americans Is 'Really, Really Bad' Even Though The Stock Market Is Doing Great

Some analysts think the market can't be timed. They think that it follows a &#8220;random walk.&#8221; These analysts are wrong.
Successful traders can identify important price levels. They know when a stock reaches one of them, there is a good chance the trend reverses. That's how they time the market and profit. An example of this can be seen on the chart of Southern Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SO#NYSE">SO</a>). This is why it is our<a href="https://www.benzinga.com/topic/stock-of-the-day"> Stock of the Day.</a>
The $88.50 level has been important for Southern Company since early August. It was resistance then and now it's a support level.
In the stock market, price levels that were once resistance can turn into support levels. It is a common occurrence. There is a reason for this. It isn't &#8220;random,&#8221; it is because of market psychology.
There are traders and investors who thought selling their shares was a good idea when the price traded lower. But some of them thought they made a mistake when the stock broke the resistance and moved higher.
Read Also: <a href="https://www.benzinga.com/markets/equities/24/10/41209505/hurricane-milton-is-floridas-second-storm-in-two-weeks-how-disney-theme-parks-insurance-companie">Hurricane Milton Is Florida&#8217;s Second Storm In Two Weeks: How Disney, Theme Parks, Insurance Companies Could Be Impacted</a>
Many of these remorseful sellers decide to buy their shares back, if they could get them for the same price they sold them at. As a result, when<a href="https://www.benzinga.com/quote/SO"> Southern</a> <a href="https://www.benzinga.com/quote/SO">Company</a> reversed and got back to the level that had been resistance, they placed buy orders.
If there are enough of these buy orders, the level that was resistance can convert into a support level. As you can see on the chart, this was the case with the $88.50 level for Southern Company.
Successful traders know that markets are not random. Market moves are the result of investor and trader psychology. This psychology results in some price levels having more importance than others.
When a stock reaches one of them, savvy traders know there's a good chance the trend reverses. They also know there will be chances for low-risk trading opportunities.
Read Next: • <a href="https://www.benzinga.com/general/entertainment/24/10/41214476/will-kamala-harriss-media-blitz-including-60-minutes-and-call-her-daddy-improve-her-2024-el">Will Kamala Harris&#8217;s Media Blitz, Including &#8217;60 Minutes&#8217; And &#8216;Call Her Daddy,&#8217; Improve Her 2024 Election Prospects?</a>
Photo: Joshua Choate from Pixabay

Technicals

Stock Of The Day: Is Southern Company About To Head North?

The Company has recently undergone a significant transformation, including substantially refreshing its Board and management team, and is focused on continuing to provide industry leading service and executing its strategic plan with a renewed sense of continuous improvement, transparency and accountability.

FWRD

Forward Air Says Refreshed Board And Management Team Are Actively Analyzing Business And Strategy To Ensure Company Pursues Best Path Forward To Enhance Shareholder Value

Stronger-than-expected U.S. economic data and surging oil prices are reshaping market expectations for the <a href="https://www.benzinga.com/topic/interest-rates">Federal Reserve&#8217;s November meeting. </a>
Traders, who initially expected an aggressive 50-basis-point rate cut, are now opting on a smaller 25-basis-point move, with odds of a potential pause in the Fed&#8217;s easing cycle surging sharply in recent hours.
Following the 50-basis-point rate cut in September, a hold could be seen as an admission that the Fed may have been significantly wrong about the weakness in the U.S. labor market.
<h1 class="wp-block-heading">A Surprising Economic Upswing</h1>
The U.S. economy continues to defy predictions of a slowdown. 
In September, the U.S. economy added a staggering 254,000 nonfarm payrolls, far exceeding forecasts of 140,000 and the 12-month average of 200,000. The unemployment rate fell unexpectedly to 4.1%, and wage growth accelerated, beating economists' expectations across the board. These factors are making it harder for the Fed to justify additional aggressive cuts in the short term.
Adding fuel to the fire, geopolitical tensions in the Middle East have escalated dramatically. 
The ongoing conflict between Israel and Hezbollah, fueled by Iran&#8217;s missile attacks and the threat of Israeli retaliation, has sent oil prices skyrocketing by over 11% in just five days, with West Texas Intermediate crude breaking through $77 per barrel. 
This surge in energy prices has pushed inflationary pressures higher, pushing traders to contemplate the option of a hold in interest rates.
<h1 class="wp-block-heading">Traders Eye Bets On Fed Holding Rates</h1>
With the economy firing on all cylinders and inflation risks rising, traders have now priced out the probability of a 50-basis-point cut in December, and attention has shifted to whether the Fed will hold rates steady in November.
Market-implied probabilities of a hold have jumped to 14%, up from just 2% on Friday and 0% the previous week, according to the CME FedWatch tool.
<h1 class="wp-block-heading">Market Implied Probabilities For November Federal Reserve Meeting</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td></td>
<td>Oct. 7, 2024</td>
<td>1 Day Ago (Oct 4, 2024)</td>
<td>1 Week ago (Sept. 30 2024)</td>
</tr>
<tr>
<td>50-basis-point cut</td>
<td>0%</td>
<td>0%</td>
<td>34.7%</td>
</tr>
<tr>
<td>25-basis-point cut</td>
<td>86%</td>
<td>97.4%</td>
<td>65.3%</td>
</tr>
<tr>
<td>No rate cut </td>
<td>14%</td>
<td>2.6%</td>
<td>0%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Data: CME FedWatch as of Oct. 7, 2024 at 3.00 p.m. ET</figcaption></figure>
This shift in expectations pushed 10-year bond yields back above the 4% mark — hardly what investors usually see in a rate-cut environment. On Monday, the U.S. Treasury 10-Year Note ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UTEN#NYSE">UTEN</a>) dropped 0.4%, marking its fourth consecutive negative session.
Bank of America economist Aditya Bhave said, &#8220;The data flow since the Fed&#8217;s 50bp September cut has been remarkably strong. Another 50bp cut isn't warranted.&#8221; He added that the bank now expects the Fed to adopt a more gradual approach, cutting rates by 25 basis points per meeting until March 2025.
&#8220;Right now, a series of more modest 25 basis point cuts would serve to help normalize conditions based on the latest data without getting too aggressive. I'm still concerned that falling rates while the economy is still in good shape runs the risk of another round of inflation,&#8221; said analyst Michael Gayed, CFA.
<h1 class="wp-block-heading">Veteran Investor Outlines 12 Reasons Why The Fed Should Keep Rates On Hold</h1>
Veteran Wall Street investor Ed Yardeni outlined in a post on Monday 12 reasons why the Fed should pause rate cuts in November:
<ol>
<li>The U.S. economy didn't need September's 50bps cut, as proven by the latest employment and PMI data.</li>
<li>Fed officials may regret cutting by 50bps in September and should now hold steady to evaluate further data.</li>
<li>Rising bond yields since the September cut suggest the easing wasn't necessary and could fuel stronger growth.</li>
<li>Further cuts could trigger a stock market &#8220;meltup,&#8221; as valuations are already nearing 1990s levels.</li>
<li>Geopolitical risks in the Middle East have pushed oil prices higher, raising stagflation concerns reminiscent of the 1970s.</li>
<li>Hurricane Helene&#8217;s aftermath could stimulate inflationary pressures due to rebuilding efforts.</li>
<li>The recent dockworkers' pay settlement may increase import costs and fuel wage inflation.</li>
<li>Both U.S. presidential candidates propose fiscal programs that could widen the federal deficit and be inflationary.</li>
<li>China's economic stimulus is driving up global commodity prices, adding to inflationary risks.</li>
<li>Further rate cuts could weaken the dollar, potentially exacerbating inflation.</li>
<li>Core inflation remains above the Fed's 2% target, with "supercore" inflation stuck above 3%.</li>
<li>The real neutral Fed Funds rate could be higher than the Fed estimates, suggesting a nominal neutral rate closer to 4.0%.</li>
</ol>
Read Now:
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<li><a href="https://www.benzinga.com/markets/asia/24/10/41213691/fast-and-furious-rally-pushes-chinese-stocks-to-double-s-p-500-performance-year-to-date">&#8216;Fast And Furious Rally&#8217; Pushes Chinese Stocks To Double S&amp;P 500 Performance Year To Date</a></li>
</ul>
The image was created using artificial intelligence.

Analyst Color

Macro Economic Events

Bonds

Specialty ETFs

Econ #s

Economics

Federal Reserve

Analyst Ratings

UTEN

November Fed Rate Cut In Jeopardy: 12 Reasons Veteran Trader Expects A Hold As Strong Data, Rising Oil Prices Shuffle The Deck

The Company promptly took steps to shut down the unauthorized access, notified the third party its systems had been compromised, launched an investigation, and implemented counter measures intended to safeguard the Company&rsquo;s information technology assets and operations.
ADT has hired leading third-party cybersecurity experts to assist with the Company&rsquo;s response to the incident, and is working closely with federal law enforcement. The Company is also cooperating closely with its third-party business partner to address the incident.
The Company believes the unauthorized actor exfiltrated certain encrypted internal ADT data associated with employee user accounts during the intrusion.

ADT Says Recently Became Aware Of Unauthorized Activity On Its Network; Says It Does Not Believe Customers' Personal Information Has Been Exfiltrated - Filing

Quanta Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PWR#NYSE">PWR</a>) has outperformed the market over the past 10 years by 14.24% on an annualized basis producing an average annual return of 25.94%. Currently, Quanta Services has a market capitalization of $45.31 billion. 
Buying $1000 In PWR: If an investor had bought $1000 of PWR stock 10 years ago, it would be worth $9,840.32 today based on a price of $307.51 for PWR at the time of writing.
<h3>Quanta Services's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728336618_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In This Stock 10 Years Ago Would Be Worth $9,800 Today

Salesforce (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) has outperformed the market over the past 10 years by 6.66% on an annualized basis producing an average annual return of 18.36%. Currently, Salesforce has a market capitalization of $272.05 billion. 
Buying $1000 In CRM: If an investor had bought $1000 of CRM stock 10 years ago, it would be worth $5,346.05 today based on a price of $284.57 for CRM at the time of writing.
<h3>Salesforce's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728336613_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $1000 Invested In Salesforce 10 Years Ago Would Be Worth Today

ESRT

Empire State Realty Trust Reveals Four New Tenants To Its Retail Portfolio And Plans To Open New Ticketing Center At The Empire State Building Observatory

Pioneer Core Equity Fund Q2 2024 Performance And Market Commentary

Pioneer Equity Income Fund Q2 2024 Performance And Market Commentary

In a report released on September 24, Gerard Cassidy from RBC Capital maintained a Buy rating on Truist Financial (TFC – Research Report), with a p...

Truist Financial (TFC) Receives a Rating Update from a Top Analyst

Pioneer Mid Cap Value Fund Q2 2024 Performance And Market Commentary

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Wells Fargo Keeps Their Buy Rating on Truist Financial (TFC)

Morgan Stanley analyst Betsy Graseck maintained a Hold rating on Truist Financial (TFC – Research Report) today and set a price target of $51.00. T...

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