U.S. stock futures are inching lower on Wednesday, following a mixed session on Tuesday, with all major benchmark indices in the red pre-market.



This comes amid President Donald Trump <a href="https://www.benzinga.com/markets/asia/25/10/48345038/trump-says-he-spoke-with-narendra-modi-on-diwali-calls-indian-pm-a-great-friend-amid-tariff-tensions">hinting at a de-escalation</a> in the tariff situation with India, following his conversation with Indian Prime Minister Narendra Modi. Trump called Modi &#8220;a great person&#8221; and &#8220;a great friend of mine over the years,&#8221; while addressing the media from the Oval Office on Tuesday.



See Also: <a href="https://www.benzinga.com/markets/asia/25/10/48345038/trump-says-he-spoke-with-narendra-modi-on-diwali-calls-indian-pm-a-great-friend-amid-tariff-tensions">Trump Says He Spoke With Narendra Modi On Diwali: Calls Indian PM &#8216;A Great Friend&#8217; Amid Tariff Tensions</a>



Investors on Wednesday will be closely watching the earnings results of several prominent companies, such as Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TSLA">TSLA</a>), SAP SE (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SAP">SAP</a>) and International Business Machines Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/IBM">IBM</a>), among several others.



Meanwhile, the 10-year Treasury bond yielded 3.957% and the two-year bond was at 3.449%. The CME Group's FedWatch&nbsp;<a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html" target="_blank" rel="noreferrer noopener">tool</a>‘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"><table class="has-fixed-layout"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Dow Jones</td><td>-0.068%</td></tr><tr><td>S&amp;P 500</td><td>-0.011%</td></tr><tr><td>Nasdaq 100</td><td>-0.17%</td></tr><tr><td>Russell 2000</td><td>-0.20%</td></tr></tbody></table></figure>



The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SPY">SPY</a>) and&nbsp;Invesco QQQ Trust ETF&nbsp;(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, are up in premarket on Wednesday. The SPY is up 0.09% at $671.92, while the QQQ is up 0.01%, trading at $611.43, according to&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>&nbsp;data.



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



<h3 class="wp-block-heading">Tesla</h3>



<ul class="wp-block-list">
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TSLA">TSLA</a>) shares are up 0.07% overnight, ahead of the company&#8217;s much-anticipated third-quarter results after markets close on Thursday. </li>



<li>The stock scores high in Benzinga&#8217;s Edge Stock Rankings, with a favorable price trend in the short, medium and long terms. Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a> for deeper insights into the stock, the company, its finances and operations. </li>
</ul>



<figure class="wp-block-image aligncenter size-large is-resized"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="149" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22031441/Screenshot-2025-10-22-at-12.44.19-PM-1024x149.png" alt="" class="wp-image-1125050" style="width:715px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22031441/Screenshot-2025-10-22-at-12.44.19-PM-1024x149.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22031441/Screenshot-2025-10-22-at-12.44.19-PM-300x44.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22031441/Screenshot-2025-10-22-at-12.44.19-PM-768x112.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22031441/Screenshot-2025-10-22-at-12.44.19-PM.png 1526w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



<h3 class="wp-block-heading">SAP SE</h3>



<ul class="wp-block-list">
<li>SAP SE (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SAP">SAP</a>), the German software giant, is set to release its third-quarter results after markets close on Wednesday. The stock is currently down 1.74% in overnight trade. </li>



<li>The stock scores high on Momentum and Quality in Benzinga&#8217;s Edge Stock Rankings, with a favorable price trend in the short and long terms. Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a> for deeper insights into the stock, its peers and competitors.</li>
</ul>



<figure class="wp-block-image aligncenter size-large is-resized"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="149" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22043353/Screenshot-2025-10-22-at-2.03.41-PM-1024x149.png" alt="" class="wp-image-1125156" style="width:715px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22043353/Screenshot-2025-10-22-at-2.03.41-PM-1024x149.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22043353/Screenshot-2025-10-22-at-2.03.41-PM-300x44.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22043353/Screenshot-2025-10-22-at-2.03.41-PM-768x112.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22043353/Screenshot-2025-10-22-at-2.03.41-PM.png 1522w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



<h3 class="wp-block-heading">International Business Machines Corp</h3>



<ul class="wp-block-list">
<li>IBM (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/IBM">IBM</a>) shares are up 0.22% in overnight trade, ahead of the company&#8217;s third-quarter results after markets close on Wednesday. </li>



<li>The stock scores poorly in Benzinga&#8217;s Edge Stock Rankings, but does well on Quality, and has a favorable price trend in the short, medium and long-term. Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a> for more insights into the stock, the company, its operations and finances.</li>
</ul>



<figure class="wp-block-image aligncenter size-large is-resized"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="149" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22043948/Screenshot-2025-10-22-at-2.09.40-PM-1024x149.png" alt="" class="wp-image-1125162" style="width:708px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22043948/Screenshot-2025-10-22-at-2.09.40-PM-1024x149.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22043948/Screenshot-2025-10-22-at-2.09.40-PM-300x44.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22043948/Screenshot-2025-10-22-at-2.09.40-PM-768x112.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22043948/Screenshot-2025-10-22-at-2.09.40-PM.png 1526w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



<h3 class="wp-block-heading">Thermo Fischer Scientific</h3>



<ul class="wp-block-list">
<li>Thermo Fischer Scientific Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/TMO">TMO</a>) is rallying by 2.17% in overnight trade, just hours before the company&#8217;s third-quarter results, before markets open on Wednesday. </li>



<li>According to Benzinga&#8217;s Edge Stock Rankings, the stock does poorly on most metrics, but has a favorable price trend in the short, medium and long terms. Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a> for deeper insights into the stock, alongside various other facts and figures. </li>
</ul>



<figure class="wp-block-image aligncenter size-large is-resized"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="148" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22044451/Screenshot-2025-10-22-at-2.14.38-PM-1024x148.png" alt="" class="wp-image-1125164" style="width:713px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22044451/Screenshot-2025-10-22-at-2.14.38-PM-1024x148.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22044451/Screenshot-2025-10-22-at-2.14.38-PM-300x43.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22044451/Screenshot-2025-10-22-at-2.14.38-PM-768x111.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22044451/Screenshot-2025-10-22-at-2.14.38-PM.png 1532w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



<h3 class="wp-block-heading">AT&amp;T </h3>



<ul class="wp-block-list">
<li>AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/T">T</a>) shares are up 0.23% pre-market, ahead of the company&#8217;s third-quarter earnings release on Wednesday morning, before markets open. </li>



<li>The stock does poorly across the board in Benzinga&#8217;s Edge Stock Rankings, with an unfavorable price trend in the short, medium and long-term. Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a> for deeper insights into the stock, its peers and competitors. </li>
</ul>



<figure class="wp-block-image aligncenter size-large is-resized"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="149" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22044829/Screenshot-2025-10-22-at-2.18.18-PM-1024x149.png" alt="" class="wp-image-1125165" style="width:708px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22044829/Screenshot-2025-10-22-at-2.18.18-PM-1024x149.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22044829/Screenshot-2025-10-22-at-2.18.18-PM-300x44.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22044829/Screenshot-2025-10-22-at-2.18.18-PM-768x112.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22044829/Screenshot-2025-10-22-at-2.18.18-PM.png 1526w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



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



The markets had a fairly mixed performance on Tuesday, with no clear trend visible across most sectors or indices throughout the day.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>+0.16%</td><td>22,953.67</td></tr><tr><td>S&amp;P 500</td><td>+0.003%</td><td>6,735.35</td></tr><tr><td>Dow Jones</td><td>+0.47%</td><td>46,924.74</td></tr><tr><td>Russell 2000</td><td>+0.49%</td><td>2,487.69</td></tr></tbody></table></figure>



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



According to The Kobeissi Letter on X, foreign investors have been pouring into U.S.-listed stocks in recent months, with the figure touching $22 billion &#8220;so far in October,&#8221; which it says is the highest since June, according to data by Goldman Sachs. 



The post notes that this is the &#8220;3rd consecutive monthly inflow,&#8221; with the year-to-date figure at a net $316 billion. According to the post, &#8220;foreign holdings of US equities rose to a record $20 trillion last quarter,&#8221; concluding that &#8220;Everyone wants to enter the US stock market.&#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">Foreign investors are piling into US stocks: Non-US investors have bought +$22 billion of US stocks so far in October, the most since June, according to Goldman Sachs estimates. This marks the 3rd consecutive monthly inflow. Year-to-date, foreign investors have acquired +$316… <a href="https://t.co/JWeiWfXnUe">pic.twitter.com/JWeiWfXnUe</a>&mdash; The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1980775555462013152?ref_src=twsrc%5Etfw">October 21, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



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



Investors on Wednesday will be keeping an eye on the following events,



<ul class="wp-block-list">
<li>Fed Governor&nbsp;Michael Barr is set to give a speech at 4 P.M. on Wednesday.</li>
</ul>



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



Crude oil futures are trading up in the early New York session by 1.87% hovering around $58.31 per barrel.



Gold Spot US Dollar is down 0.90%, hovering around $4,087.97 per ounce. Its last record high stood at $4,379.29 per ounce. The U.S. Dollar Index spot was up 0.07% at 99.001.



Meanwhile, Bitcoin is trading 0.05% lower at $108,327.80 per coin.



Most Asian markets are in the red on Wednesday, barring India&#8217;s Nifty 50, South Korea&#8217;s KOSPI and Singapore&#8217;s Straits Times Index. Australia&#8217;s ASX 200 and New Zealand&#8217;s NZX 50 are down as well, with European markets too primarily in the red, with a few exceptions being London&#8217;s FTSE and Spain&#8217;s IBEX.



Read More: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/10/48346805/att-netflix-and-3-stocks-to-watch-heading-into-wednesday">AT&amp;T, Netflix And 3 Stocks To Watch Heading Into Wednesday</a></li>
</ul>



Photo courtesy: Shutterstock

Equities

Market Summary

Commodities

Pre-Market Outlook

Markets

Trading Ideas

TSLA

Stock Market Today: S&P 500, Dow Jones, Nasdaq Futures Inch Lower—Tesla, SAP And IBM In Focus

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TSLA">TSLA</a>) Board of Directors Chair, Robyn Denholm, has criticized proxy advisory firms like International Shareholder Services (ISS) and Glass Lewis for opposing CEO Elon Musk's <a href="https://www.benzinga.com/markets/tech/25/10/48291450/elon-musk-pay-deal-faces-pushback-as-iss-tells-tesla-investors-to-vote-against-1-trillion-package">new compensation award</a>, which could make him a trillionaire.



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



<h2 class="wp-block-heading">‘One-Size-Fits-For-All' Approach Is Misguided, Says Robyn Denholm</h2>



In a <a href="https://x.com/tesla/status/1980679025388581282?s=46">post</a> on the social media platform X on Tuesday, Tesla's official handle shared the letter Denholm penned to investors of the company in an attempt to defend Musk's pay package and "set the record straight," calling the recommendations of the proxy advisory firms "misguided."



"ISS and Glass Lewis evaluate all companies and all proposals using the same simplistic, one-size-fits-all framework," Denholm said in the letter, adding that advisory firms are "fundamentally unable" to correctly evaluate Tesla, which challenges "the status quo."



"I encourage you to ignore ISS's and Glass Lewis's advice for this year's Annual Meeting and vote with the Board's <a href="https://www.benzinga.com/markets/tech/25/09/47812065/tesla-urges-shareholders-to-vote-in-favor-of-1-trillion-ceo-compensation-package-for-elon-musk">recommendations on all proposals</a>," Denholm said.



She then went on to address queries about the package, adding that Musk would be paid nothing "unless shareholders enjoy exceptional investment returns," and that Musk would secure additional voting rights "if he delivers on bold market capitalization and operational goals."



It's worth noting that Musk had previously expressed worries regarding voting rights, saying that the compensation package wasn't about money; it was about <a href="https://www.benzinga.com/markets/tech/25/09/47834195/elon-musk-says-the-upcoming-shareholder-vote-isnt-about-compensation-if-i-can-just-get-kicked-out">retaining control over</a> the EV giant.



Also addressing issues regarding relatively easy milestones in the package, which <a href="https://www.benzinga.com/markets/tech/25/10/48120311/elon-musk-may-still-reap-billions-from-teslas-trillion-dollar-pay-package-even-without-meeting-goals-report">could give Musk billions of dollars</a> even if he failed to reach all the goals laid down in the package, she said that Musk would need to "lead Tesla to $400 billion in Adjusted EBITDA – which means growing our current Adjusted EBITDA by ~26x," reiterating that there were no easy milestones.



"If you prefer that Tesla turn into just another car company mired in the ways of the past, then you should follow ISS and Glass Lewis," Denholm said, appealing to the investors to vote yes on all the board's recommendations if they <a href="https://www.benzinga.com/markets/tech/25/09/47734230/tesla-chair-robyn-denholm-calls-elon-musk-once-in-a-generation-visionary-in-new-message-to-shareholders-elon-only-gets-compensated">believed in Musk's leadership</a>.



<h2 class="wp-block-heading">Experts Weigh In On The Pay Package Row</h2>



The letter comes as experts have also weighed in on their views regarding the pay package. Gerber Kawasaki's co-founder, Ross Gerber, recently took to social media to <a href="https://www.benzinga.com/markets/tech/25/10/48345724/ross-gerber-calls-elon-musks-pay-packet-insanity-questions-whether-anyone-on-tesla-board-negotiated-the-trillion-dollar-salary">criticize the compensation award</a>, calling it "insanity" and questioning the independence of Tesla's Board.



Meanwhile, Cathie Wood, CEO of ARK Invest and Tesla Bull, <a href="https://www.benzinga.com/markets/tech/25/10/48296957/cathie-wood-says-elon-musks-new-tesla-pay-package-will-win-decisively-despite-opposition-sad-if-not-damning">defended the compensation award</a> and criticized ISS for its opposition to the package. She also said that Musk's package would "decisively win" at the shareholder meeting.&nbsp;



Elsewhere, Future Fund LLC's <a href="https://www.benzinga.com/markets/tech/25/10/48346457/gary-black-expects-overwhelming-approval-for-elon-musks-trillion-dollar-pay-package-amid-proxy-advisor-opposition">managing director, Gary Black</a>, as well as Wedbush Securities' investor Dan Ives, both shared that they expect the new pay package <a href="https://www.benzinga.com/markets/tech/25/10/48295413/dan-ives-says-robotaxi-rollout-across-us-xai-investment-and-elon-musks-pay-packet-will-be-major-focus-of-tesla-earnings-call">to receive approval</a> from Tesla's shareholders.



<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="197" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22051741/TSLA-OCT-22-2025-2-1024x197.jpg" alt="" class="wp-image-1125228" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22051741/TSLA-OCT-22-2025-2-1024x197.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22051741/TSLA-OCT-22-2025-2-300x58.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22051741/TSLA-OCT-22-2025-2-768x148.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22051741/TSLA-OCT-22-2025-2-1536x296.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22051741/TSLA-OCT-22-2025-2.jpg 1562w" 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's Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/10/48296385/tesla-investor-ross-gerber-says-super-sad-to-see-federal-ev-subsidies-end-credits-created">Tesla Investor Ross Gerber Says ‘Super Sad&#8217; To See Federal EV Subsidies End: ‘Credits Created…&#8217;</a></li>
</ul>



Photo courtesy: Shutterstock

Tech

Tesla Board Chair Robyn Denholm Criticizes Proxy Advisors' 'One-Size-Fits-All' Approach To Elon Musk's $1 Trillion Pay Package

China has emerged as a major force behind the recent <a href="https://www.benzinga.com/news/25/09/47890930/gold-market-outlook-technical-analysis-september-bank-of-america-goldman-sachs">surge in gold prices</a>, with its growing influence projected to surpass even that of the U.S. dollar, according to a top economist.



<h2 class="wp-block-heading">China Buys Up Gold</h2>



&#8220;China is playing a key role in the ongoing rise in gold prices because of central bank buying, arbitrage trading, and increased speculative and safe-haven demand among Chinese households,&#8221; Torsten Slok, the chief economist at Apollo Global Management, said on his blog The Daily Spark.



Slok suggested that in the face of global macroeconomic uncertainty, it is likely that central banks worldwide will soon hold more gold than U.S. dollars, the current global reserve currency.



See Also: <a href="https://benzinga.com/markets/tech/25/10/48345235/elizabeth-warren-warns-one-of-trumps-billionaire-buddies-wants-to-buy-warner-bros-warns-giant-compan" target="_blank" rel="noreferrer noopener">Elizabeth Warren Warns One Of Trump&#8217;s &#8216;Billionaire Buddies&#8217; Wants To Buy Warner Bros, Warns Giant Company Could Control &#8216;Everything&#8217; You Watch On TV</a>



His comments echo similar observations about China&#8217;s increasing influence in the gold market. 



Last week, Steve Schoffstall, Director, ETF Product Management at Sprott Asset Management, <a href="https://www.benzinga.com/partner/commodities/25/10/48262186/sprott-asset-managements-director-of-etfs-talks-to-benzinga-about-why-gold-miners-are-shining">told </a>Benzinga: &#8220;Countries view gold as a way to get around economic sanctions.&#8221;



Venture capitalist&nbsp;Chamath Palihapitiya&nbsp;previously noted that China&#8217;s <a href="https://www.benzinga.com/markets/commodities/25/10/48116933/chinas-relentless-gold-buying-spree-signals-rising-uncertainty-in-the-world-says-chamath-palihapitiya-hedging-against-dollar-risk">relentless gold buying </a>reflects a significant shift in global sentiment, with both governments and individuals seeking to hedge against mounting geopolitical and economic risks.



In July, it was reported that China&#8217;s central bank <a href="https://www.benzinga.com/markets/commodities/25/07/46466814/china-has-been-stockpiling-gold-analysts-say-actual-reserves-may-be-double-a-threat-to-the-us-dollar">has been quietly amassing</a> gold reserves since 2022, a move that could have significant implications for the global economy, particularly the U.S. dollar.



<h2 class="wp-block-heading">Gold Miners Hit Sharp Sell-Off</h2>



The recent surge in gold prices past $4,000 per ounce has been highly beneficial for gold miners, with spot prices up nearly 50% year-to-date. Market veteran Ed Yardeni has <a href="https://www.benzinga.com/markets/commodities/25/10/48043500/gold-price-forecasts-2026-5000-4000-record-highs-yardeni">raised his outlook </a>significantly and stated that gold prices could hit $5,000 by 2026 and $10,000 by 2030.



However, this trend took a sharp turn on Tuesday, with gold miners experiencing a<a href="https://www.benzinga.com/markets/equities/25/10/48339524/gold-selloff-tuesday-miners-mining-stocks-to-watch-buy-the-dip"> significant sell-off </a>following a plunge of over 5% in bullion prices in a single session. The spot price is still above $4,100 per ounce.



VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/GDX">GDX</a>) plunged 9.42%, while shares of Newmont Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/quote/nem">NEM</a>), the world&#8217;s largest gold miner, also fell 9.03%, as per data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.



READ NEXT:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/etfs/sector-etfs/25/10/48335906/gold-overtakes-stocks-as-investor-favorite-massive-etf-inflows-signaled-market-jitters-last-week">Gold Overtakes Stocks As Investor Favorite — Massive ETF Inflows Signaled Market Jitters Last Week </a></li>
</ul>



Image via Shutterstock



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

News

Politics

China's Gold Binge May Eclipse US Dollar, Says Top Economist

With Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TSLA">TSLA</a>) expected to release its third-quarter results on Wednesday after markets close, leading analysts are making their predictions and weighing in on the company&#8217;s prospects. 



TSLA is facing resistance from sellers. <a href="https://www.benzinga.com/quote/TSLA" target="_blank" rel="noreferrer noopener">Get the details here</a>.



<h2 class="wp-block-heading">Tesla To Beat Consensus Estimates</h2>



According to prominent Tesla analyst Troy Teslike, the EV giant is set to beat analyst consensus estimates across the board during its third-quarter results. 



On Tuesday, in a post on X, Teslike, who is known for accurate outlooks and predictions on Tesla&#8217;s performance, forecasted a Non-GAAP earnings per share of $0.66, against consensus estimates at $0.59 per share. They expect the company to generate $28.4 billion in revenue, which was again ahead of analyst consensus at $27.3 billion. 



See Also: <a href="https://www.benzinga.com/markets/tech/25/10/48342136/teslas-1-trillion-illusion-elon-musks-pay-package-and-the-robotaxi-myth">Tesla&#8217;s $1 Trillion Illusion: Elon Musk&#8217;s Pay Package And The Robotaxi Myth</a>



The only metric where Teslike&#8217;s projections trail other analysts is gross margins, where they expect 17.2%, which is below others at 17.3%. 



<figure class="wp-block-embed aligncenter 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">Hi everyone. Here's my detailed calculation for Tesla's Q3 2025 earnings: Non-GAAP EPS: • My Estimate: $0.66 • Analyst Consensus: $0.59 The last two columns show my estimate and the analyst consensus. Tesla will report the actual numbers tomorrow, October 22, after market… <a href="https://t.co/4NZ1EeqEHd">pic.twitter.com/4NZ1EeqEHd</a>&mdash; Troy Teslike (@TroyTeslike) <a href="https://twitter.com/TroyTeslike/status/1980735448298205643?ref_src=twsrc%5Etfw">October 21, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h2 class="wp-block-heading">Markets &#8216;Got A Little Too Carried Away&#8217; By The Robotaxi Hype</h2>



Morningstar&#8217;s Senior Equity Analyst Seth Goldstein, who maintains a sell rating on the stock, believes the market may be pricing in too much too soon. 



&#8220;We think the market&#8217;s got a little too carried away with enthusiasm for the robotaxi,&#8221; Goldstein said, speaking on CNBC&#8217;s Closing Bell Overtime on Tuesday. 



He said that he was skeptical of a full robotaxi launch this year, adding that it was unlikely that it &#8220;will be launched without safety drivers in the car and without any parameters or geo-fencing.&#8221;



Goldstein pointed out that Tesla's autonomous vehicle technology is &#8220;still a few years away because the product&#8217;s in early testing.&#8221; The stock, however, appears to be assuming that Tesla will &#8220;surpass Waymo&#8221; and &#8220;start to take some of Uber and Lyft&#8217;s market share.&#8221;



While reiterating his &#8220;Sell&#8221; rating on the stock, Goldstein acknowledged that &#8220;there&#8217;s a lot to like about Tesla,&#8221; citing optimism around long-term developments like Optimus humanoid robots and the company's battery business.



<figure class="wp-block-embed aligncenter 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">&#x1f6a8; MORNINGSTAR ANALYST ISSUES SELL RATING ON <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> AHEAD OF EARNINGS • Seth Goldstein from Morningstar doubts Tesla's robotaxi will fully launch next year without safety drivers or geo-fencing. • Skeptical of market enthusiasm, believes Tesla's stock is overvalued due to… <a href="https://t.co/lk4Urilyrb">pic.twitter.com/lk4Urilyrb</a>&mdash; Tsla Archive (@tesla_archive) <a href="https://twitter.com/tesla_archive/status/1980810372799164771?ref_src=twsrc%5Etfw">October 22, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h2 class="wp-block-heading">&#8216;Tesla Is Heading To $900&#8217; Within A Year</h2>



Long-time Tesla bull, Tom Nash, made a bold prediction on Tuesday, saying that the company&#8217;s stock could more than double from its current levels, heading to $900 per share within &#8220;6 to 12 months at most.&#8221;



&#8220;The bottom line is quite simple. Tesla is heading to $900 per share,&#8221; Nash said in his new video, adding that &#8220;It's going to get there whether you like it or not. And it's going to get there a lot sooner than most people realize.&#8221;



He cited several Tesla growth drivers to justify his target, such as &#8220;AI, FSD [full self-driving], robo taxi, energy, and obviously robotics,&#8221; claiming the company is placing itself &#8220;as the leading gold standard in each of the most important secular trends we're going to experience over the next decade.&#8221;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> is going to $900 (much sooner than most realize) <a href="https://t.co/3xAeLCvxNw">pic.twitter.com/3xAeLCvxNw</a>&mdash; Tom Nash (@iamtomnash) <a href="https://twitter.com/iamtomnash/status/1980718054230081777?ref_src=twsrc%5Etfw">October 21, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Shares of Tesla were down 1.08% on Tuesday, closing at $442.60, but are up 0.32% in overnight trade, ahead of the company&#8217;s third-quarter results. The stock scores well in Benzinga&#8217;s Edge Stock Rankings, with a favorable price trend in the short, medium and long terms. Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a> for deeper insights on the stock, its peers and competitors.



<figure class="wp-block-image aligncenter size-large is-resized"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="149" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22013343/Screenshot-2025-10-22-at-11.03.34-AM-1024x149.png" alt="" class="wp-image-1124870" style="width:701px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22013343/Screenshot-2025-10-22-at-11.03.34-AM-1024x149.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22013343/Screenshot-2025-10-22-at-11.03.34-AM-300x44.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22013343/Screenshot-2025-10-22-at-11.03.34-AM-768x112.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22013343/Screenshot-2025-10-22-at-11.03.34-AM.png 1524w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



Read More: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/10/48296385/tesla-investor-ross-gerber-says-super-sad-to-see-federal-ev-subsidies-end-credits-created">Tesla Investor Ross Gerber Says &#8216;Super Sad&#8217; To See Federal EV Subsidies End: &#8216;Credits Created&#8230;&#8217;</a></li>
</ul>



Photo Courtesy: DANIEL CONSTANTE from Shutterstock

Large Cap

Tesla's Q3 Results Divides Analysts: Tom Nash Says Stock Is Going To $900 In 12 Months 'At Most'

On Tuesday, Gene Munster weighed in on OpenAI's <a href="https://www.benzinga.com/trading-ideas/movers/25/10/48336489/alphabet-stock-falls-after-openai-unveils-chatgpt-atlas">launch of the</a> ChatGPT Atlas browser, calling it promising but cautioning that Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/GOOG">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/GOOGL">GOOGL</a>) Google Chrome's dominance remains intact.



<h2 class="wp-block-heading">OpenAI Launches ChatGPT Atlas in Browser Wars</h2>



OpenAI unveiled ChatGPT Atlas, an AI-powered web browser built around its popular chatbot, directly challenging Google Chrome.



The browser allows users to summarize content, compare products and analyze data, while its paid "agent mode" can interact with websites to complete tasks automatically, from researching trips to shopping online.



<h2 class="wp-block-heading">Gene Munster's Take: Exciting, But Not Revolutionary</h2>



Munster, managing partner at Deepwater Asset Management, commented on the launch, saying, "Good news for $GOOG. While the Atlas browser is a step forward, especially around agents, it's not 10x better than Chrome."



He went on to add that "Google can (and will) copy these features quickly." Following which, it will be difficult for OpenAI's Atlast to gain a share of the market.



"I'm a fan of what OpenAI is building and believe Google will be fine," he stated.



See Also:&nbsp;<a href="https://www.benzinga.com/markets/tech/25/10/48091979/nvidia-reportedly-bets-2-billion-on-elon-musks-xai-and-its-own-gpus-will-fuel-colossus-2-gigawatt-scale-ai-supercluster" target="_blank" rel="noreferrer noopener">Nvidia Reportedly Bets $2 Billion On Elon Musk's xAI — And Its Own GPUs Will Fuel ‘Colossus 2′ Gigawatt-Scale AI Supercluster</a>



<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">Good news for <a href="https://twitter.com/search?q=%24GOOG&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GOOG</a>. While the Atlas browser is a step forward, especially around agents, it's not 10x better than Chrome. Google can (and will) copy these features quickly, making it harder for Atlas to gain share. I'm a fan of what OpenAI is building and believe Google will be…&mdash; Gene Munster (@munster_gene) <a href="https://twitter.com/munster_gene/status/1980688309878997088?ref_src=twsrc%5Etfw">October 21, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Prior to Atlas's launch, Munster questioned why Google pays Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AAPL">AAPL</a>) $20 billion annually to be Safari's default search engine. "Because the browser is the gateway to search."



He said the real test for OpenAI will be turning its 800 million weekly ChatGPT users into active browser users. "If OpenAI can parlay its 800M weekly users into browser users, then Google will have its work cut out."



<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">Wonder why <a href="https://twitter.com/search?q=%24GOOG&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GOOG</a> pays <a href="https://twitter.com/search?q=%24AAPL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AAPL</a> $20B a year to be the default search engine in Safari? Because the browser is the gateway to search. GOOG is down 3.4% today (Nasdaq is flat) in anticipation of OpenAI's browser announcement at 10 a.m. PT. I'll be most focused on distribution. If…&mdash; Gene Munster (@munster_gene) <a href="https://twitter.com/munster_gene/status/1980666674123866514?ref_src=twsrc%5Etfw">October 21, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h2 class="wp-block-heading">Google&#8217;s Share Price Fell And Then Gained Some</h2>



Following the launch, Alphabet shares fell 2.37% for Class A and 2.21% for Class C. Class A shares were up 1.95% while Class C shares were up 1.93% in after-hours trading, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.



Atlas is the newest player in the competitive AI browser space, alongside Perplexity's Comet, Brave Browser and Opera's Neon.



Despite the new challenge, Chrome maintains 71.77% of the global browser market, according to Statcounter. Google has also integrated its Gemini AI into the browser to <a href="https://www.benzinga.com/markets/tech/25/09/47754957/sundar-pichai-declares-next-chrome-era-as-google-bakes-gemini-ai-into-its-web-browser-roll-out-to-target-mac-windows-and-mobile-devices">offer AI summaries</a> and chatbot-like responses.



Benzinga's Edge Stock Rankings indicate that GOOGL demonstrates a robust trend over short, medium and long-term timeframes, <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound'">with a complete performance breakdown available here</a>.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound'"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21214521/Screenshot-2025-10-22-at-7.12.53%E2%80%AFAM.png" alt="" class="wp-image-1124684"/></a></figure>



Read More:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/10/48092929/nvidia-ceo-jensen-huang-says-intel-spent-33-years-trying-to-kill-us-but-now-calls-the-chip-rival-a-partner-were-lovers-not-fighters" target="_blank" rel="noreferrer noopener">Nvidia CEO Jensen Huang Says Intel Spent 33 Years ‘Trying To Kill Us' But Now Calls The Chip Rival A Partner: ‘We're Lovers, Not Fighters'</a></li>
</ul>



Photo by JHVEPhoto via Shutterstock



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

AAPL

GOOG

GOOGL

Gene Munster Says Google Will Be 'Fine' As OpenAI Will Find It Hard To Gain Market Share With New Atlas Browser For This Reason

President Donald Trump said that he spoke with Indian Prime Minister Narendra Modi on the occasion of Diwali, while celebrating the Hindu festival in the White House on Tuesday. 



<h2 class="wp-block-heading">Modi Is &#8216;A Great Friend of Mine&#8217;</h2>



While extending Diwali greetings to the people of India, Trump said he had &#8220;a great conversation&#8221; with Modi, describing him as &#8220;a great person&#8221; and &#8220;a great friend of mine over the years.&#8221; He noted that their discussion touched on several topics, but was mostly focused on trade.



See Also: <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-struggling-for-years">Trump Warns US Would Be &#8216;Struggling For Years&#8217; If Supreme Court Strikes Down Tariffs: &#8216;Don&#8217;t Want To Even Think About It&#8217; (CORRECTED)</a>



Trump reiterated his involvement in the recent conflict between India and Pakistan. He said, &#8220;We did talk a little while ago about let&#8217;s have no wars with Pakistan,&#8221; adding, &#8220;And we have no war with Pakistan and India. That was a very, very good thing.&#8221;



<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">.<a href="https://twitter.com/POTUS?ref_src=twsrc%5Etfw">@POTUS</a>: &quot;Let me also extend our warmest wishes to the people of India. I just spoke to your Prime Minister <a href="https://twitter.com/narendramodi?ref_src=twsrc%5Etfw">@narendramodi</a> today. We had a great conversation&#8230; he's a great person, and he's become a great friend of mine over the years.&quot; <a href="https://t.co/Q0HpT0Fcor">pic.twitter.com/Q0HpT0Fcor</a>&mdash; Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1980736263511765091?ref_src=twsrc%5Etfw">October 21, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



India has, however, <a href="https://www.benzinga.com/news/politics/25/06/46043222/pakistan-will-nominate-genuine-peacemaker-trump-for-nobel-peace-prize">pushed back against</a> this narrative, maintaining its stance that the ceasefire with Pakistan was the result of a mutual military agreement, and not foreign mediation. 



In a Presidential message on Diwali, Trump wished all Americans celebrating the &#8220;Festival of Lights&#8221; with serenity, prosperity, hope and peace, shared by White House Press Secretary Karoline Leavitt on X.



<figure class="wp-block-embed aligncenter 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">Presidential Message on Diwali &quot;To every American celebrating Diwali, may this observance bring abiding serenity, prosperity, hope, and peace.&quot; &#8211; <a href="https://twitter.com/POTUS?ref_src=twsrc%5Etfw">@POTUS</a> <a href="https://t.co/QoVAc7JEs9">https://t.co/QoVAc7JEs9</a>&mdash; Karoline Leavitt (@PressSec) <a href="https://twitter.com/PressSec/status/1980309721392484376?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">Not Happy With India Buying Russian Oil</h2>



This comes amid ongoing trade negotiations between the two nations, with the U.S. <a href="https://www.benzinga.com/markets/asia/25/08/46908150/trump-tariffs-india-russian-oil-imports-2025">imposing 50% tariffs</a> on imports from India since August, a move aimed at curbing the nation&#8217;s crude oil purchases from Russia. 



Last week, Trump said, &#8220;I was not happy that India was buying oil. And he [Modi] assured me today that they will not be buying oil from Russia,&#8221; which he referred to as a &#8220;big step&#8221; in the <a href="https://www.benzinga.com/markets/asia/25/10/48241995/trump-says-he-wasnt-happy-india-was-buying-russian-oil-and-now-modi-has-agreed-to-stop-doing-it-big-step">administration&#8217;s efforts</a> to bring an end to the war in Ukraine by curtailing the Russian energy industry.



India&#8217;s Foreign Ministry has denied this claim, saying that it was &#8220;not aware&#8221; of any conversations between Modi and Trump at the time, according to a <a href="https://www.bbc.com/news/articles/c8eykdy0567o">report</a> by BBC News. 



Read More: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/asia/25/10/48328086/china-rare-earths-tariffs-trump-retaliation-supply-chain-risk">Trump&#8217;s 100% Tariff Threat Turns China&#8217;s Rare-Earth Play Into A Dangerous Gamble</a></li>
</ul>



Photo Courtesy: bella1105 on Shutterstock.com

Government

Trump Says He Spoke With Narendra Modi On Diwali: Calls Indian PM 'A Great Friend' Amid Tariff Tensions

Streaming giant Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NFLX">NFLX</a>) reported third-quarter financial results Tuesday <a href="https://www.benzinga.com/earnings">after market close.</a>



Here are the key highlights and a look at what's next.



Q3 Earnings Highlights: Netflix reported third-quarter revenue of $11.51 billion, up 17.2% year-over-year. The revenue total missed a Street consensus estimate of $11.514 billion, according to data<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent102125&amp;t=be2bearmibe3na1"> from Benzinga Pro.</a>



The company reported earnings per share of $5.87, missing a Street consensus estimate of $6.97.



Revenue and year-over-year growth by region were as follows:



<ul class="wp-block-list">
<li>UCAN: $4.93 billion, +15% year-over-year</li>



<li>EMEA: $3.54 billion, +18% year-over-year</li>



<li>LATAM: $1.31 billion, +9% year-over-year</li>



<li>APAC: $1.31 billion, +24% year-over-year</li>
</ul>



Netflix said higher revenue came from membership growth, higher pricing, and increased advertising revenue.



Operating margin was 28% in the quarter, well below guidance of 31.5%. The company said the lower rate was due to an "ongoing dispute with Brazilian tax authorities." Without the dispute, the operating margin would have been above the company&#8217;s forecast.



Netflix had its highest-ever quarterly view share in the United States and the United Kingdom since the fourth quarter of 2022.  



Key titles highlighted in the quarter for Netflix were "Wednesday," "Happy Gilmore 2," "Your Majesty from South Korea," and "KPOP Demon Hunters."



"Happy Gilmore 2" had 126 million views and set a Nielsen streaming record with 2.9 billion minutes viewed in its opening weekend. "KPop Demon Hunters" became the company's most-watched film ever.



The live Canelo vs. Crawford boxing match was the most-viewed men's championship fight this century. The fight had over 41 million views.



The company reported its biggest quarter ever for advertising sales and stated that it had doubled its commitments at the U.S. upfront.



Read Also:<a href="https://www.benzinga.com/trading-ideas/previews/25/10/48316180/netflix-q3-earnings-preview-kpop-demon-hunters-help-streamer-beat-estimates"> Netflix Q3 Earnings Preview: Will &#8216;KPop Demon Hunters&#8217; Help Streamer Beat Estimates?</a>



 What's Next: Netflix is guiding for fourth-quarter revenue to be $11.96 billion, up 16.7% year-over-year. The Street estimate is $11.902 billion according to data from Benzinga Pro.



The company said it expects fourth-quarter growth to come from higher membership figures, higher pricing and increased advertising revenue.



Netflix is guiding for fourth quarter earnings per share of $5.45, versus a Street estimate of $5.42.



For the full fiscal year, the company sees revenue hitting $45.1 billion, up 16% year-over-year. The total would be in line with an original forecast of 15% to 16% revenue growth.



"We're only in our second decade of original programming," the company said.



Earlier Tuesday, the company announced new licensing deals with Mattel and Hasbro for "KPop Demon Hunters."



"We are actively expanding the KPop Demon Hunters universe, bringing fans new experiences and products worldwide."



The company said it sees more opportunities for the hit movie through live experiences, publishing, beauty, lifestyle and food and beverage.



For fourth quarter content, the company highlighted "Stranger Things," "The Diplomat," "Nobody Wants This," "Frankenstein," "A House of Dynamite," "Squid Game: The Challenge Season 2" and "Wake Up Dead Man: A Knives out Mystery." The company also highlighted its upcoming Jake Paul vs. Tank Davis boxing match and two NFL Christmas Day games.



"We can't wait for our members to experience our Q4 slate."



Netflix said it is expanding advertising opportunities for partners, including the use of AI to test new ad formats and for faster ad implementation.



"We have a solid foundation and are increasingly confident in the outlook for our ads business."



The company is on track to more than double its advertising revenue in 2025.



NFLX Price Action: Netflix stock is down 5% to $1,181.00 in after-hours trading on Tuesday versus a 52-week trading range of $744.34 to $1,341.15.



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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" target="_blank" rel="noreferrer noopener">Disney Raises Streaming Prices: Is Disney+ Now More Expensive Than Netflix?</a></li>
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<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="Netflix Q3 Earnings Call 2025 &#x7C; $NFLX &#x7C; &#x1f534; WATCH LIVE" width="500" height="281" src="https://www.youtube.com/embed/tqrFxtm0wgk?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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Photo: Emre Akkoyun / Shutterstock.com

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Netflix Q3 Earnings Miss, But Record Ad Sales And Viewership Signal Strong Q4 Momentum

Gold miners endured a brutal sell-off Tuesday, with sector-wide losses hitting double digits after bullion plunged more than 5% in a single session, marking the worst trading day for the metal since August 2020 and triggering its sharpest mining stock rout since the COVID-driven <a href="https://www.benzinga.com/topic/gold">crash of March 2020.</a>



The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/GDX">GDX</a>), which has been the year's top-performing equity industry fund with over 110% gains, dropped 9.8% during New York afternoon trading. Shares of Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/NEM">NEM</a>), the world's largest gold miner, fell 9.2%.



The collapse in miner stocks followed a synchronized retreat in precious metals as profit-taking and rising risk appetite across global markets met stiff resistance in gold's price near record highs.



<h2 class="wp-block-heading">Chart: Gold Miners Sink 10% As Bullion Crashes</h2>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="556" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21151230/image-532-1024x556.png" alt="" class="wp-image-1124354" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21151230/image-532-1024x556.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21151230/image-532-300x163.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21151230/image-532-768x417.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21151230/image-532-1536x834.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21151230/image-532-2048x1112.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h2 class="wp-block-heading">What Sparked Tuesday&#8217;s Gold Sell-Off </h2>



&#8220;It looks as if gold is finally having a bit of a downside correction following its record-breaking upside run,&#8221; said David Morrison, senior market analyst at Trade Nation, in an emailed comment.



Morrison said the gold sell-off is largely technical, triggered by repeated failures to break above $4,400, with resistance holding firm near $4,380.



Support levels to watch include the critical psychological floor at $4,000, where a bullish trend line converges. If these levels fail, further downside could be in store.



For Morrison, the correction may simply be &#8220;a much-needed reset&#8221; for gold&#8217;s momentum indicators such as the MACD (Moving Average Convergence Divergence), which had signaled overbought conditions.



Fawad Razaqzada, market analyst at Forex.com, said the drop was &#8220;always going to come one of these days&#8221; after the parabolic rally.



He highlighted a combination of a stronger dollar, improving risk sentiment—highlighted by the Nikkei 225 futures surging above 50,000—and hopes of a renewed U.S.-China trade truce, which dampened haven demand.



&#8220;Investors have finally started to take profit after the record-breaking run,&#8221; said Razaqzada, adding that &#8220;long-side liquidation has added some real selling pressure for a change after what was one-way traffic.&#8221;



<h2 class="wp-block-heading">Fundamentals May Still Favor Gold Bulls</h2>



Despite the pullback, some analysts and institutional investors continue to believe that gold's long-term drivers remain intact. 



Imaru Casanova, portfolio manager for gold and precious metals at VanEck, said the rally isn't over, citing &#8220;strong central bank buying and persistent safe-haven demand&#8221; as continued tailwinds.



Investor attention now turns to Newmont's third-quarter earnings on Thursday, which kick off the mining sector's reporting season. 



Peter Spina, president of goldseek.com, said it's shaping up to be a strong earnings season for miners.



&#8220;For Gold miners, the earnings season is going to be a blockbuster,&#8221; he said in a tweet. 



Otavio "Tavi" Costa, a portfolio manager at Crescat Capital, said gold miners are "effectively printing money" at current prices. He indicated that the Philadelphia Gold and Silver Index's free cash flow has surged 11 times in recent quarters.



"Fundamentals have far outpaced the rally," Costa said, suggesting that despite the recent run-up, miners remain undervalued relative to their earnings power.



<h2 class="wp-block-heading">Bottom Line: Buy the Dip Or Wait It Out?</h2>



Tuesday's crash in gold miners marks a clear inflection point, but analysts remain split.



If $4,000 holds as support and macro conditions align, this could prove a classic buy-the-dip scenario. However, if sentiment sours further or earnings disappoint, more downside could follow. 



Read Next:



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<li><a href="https://www.benzinga.com/author/piero-cingari">Trump&#8217;s &#8216;Drill Baby Drill&#8217; Plan Just Backfired—Oil Stocks Haven&#8217;t Been This Cheap In Years</a></li>
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 Photo: ImageSymphony/Shutterstock

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Gold Miners Just Had Their Worst Crash Since 2020 — Buy The Dip?

Third-quarter earnings from Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TSLA">TSLA</a>) after the <a href="https://www.benzinga.com/earnings">market close Wednesday</a> could serve as a bellwether for the electric vehicle sector and overall technology sector as the first Magnificent 7 stock to report in this earnings season.



Here are the earnings estimates from analysts, what experts are saying ahead of the report and the key items to watch.



Earnings Estimates: Analysts expect Tesla to report third-quarter revenue of $26.16 billion, up from $25.18 billion in last year's third quarter, according to data <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent102125&amp;t=be2bearmibe3na1">from Benzinga Pro.</a>



The company has missed analyst estimates for revenue in four straight quarters and missed estimates in seven of the last 10 quarters overall.



Analysts expect Tesla to report third-quarter earnings per share of 53 cents, down from 72 cents per share in last year's third quarter.



The company has missed analyst estimates for earnings per share in three straight quarters and missed estimates in seven of the last 10 quarters overall.



Read Also: <a href="https://www.benzinga.com/markets/tech/25/10/48263490/tesla-insurance-heads-to-first-new-state-in-three-years-heres-where-users-will-soon-have-access">Tesla Insurance Heads To First New State In Three Years: Here&#8217;s Where Users Will Soon Have Access</a>



What Experts Are Saying: Tesla beating third-quarter delivery estimates, which have already been announced, was due to a "push-forward effect," Cantor Fitzgerald analyst Andres Sheppard said in a new investor note.



The analyst, who maintained an Overweight rating and $355 price target, said increased demand came from the expiration of the $7,500 EV tax credit. Sheppard said he expects a weaker fourth quarter for deliveries.



Tesla's introduction of lower-priced vehicles comes at an "opportunistic time" according tot the analyst. Sheppard said the new vehicles can attract budget-conscious buyers to Tesla.



The analyst said key catalysts for Tesla to watch for the earnings call include robotaxis, ramp-up of lower-cost models, FSD adoption, the launch of the cybercab and an update on the Optimus Bot.



Wedbush analyst Dan Ives is looking beyond electric vehicle demand in Tesla's earnings and commentary and focused on key areas like robotaxis, artificial intelligence and China. &#8220;After a brutal few quarters we are finally starting to see stable demand trends for Tesla,&#8221; Ives said.



The analyst maintained an Outperform rating on Tesla with a $600 price target.



&#8220;The Tesla story going forward is around the AI transformation being led by the autonomous and robotics initiatives.&#8221;



While some analysts are bullish on the new lower-cost Model Y and Model 3 variants, Goldman Sachs analyst Mark Delaney said they may not be cheap enough or have enough features to catch initial demand.



The analyst has a Neutral rating and $425 price target on Tesla ahead of the earnings report.



&#8220;While we think the broader 3/Y lineup offers good value in general (based on features like acceleration and safety), the degree of differentiation on price and features/form factor for the Standard trims is more limited than we had initially expected for Tesla&#8217;s lower cost models,&#8221; Delaney said.



The analyst stated that at one point, Tesla had planned to introduce a new model that would cost 50% less than the Model 3 and Model Y; however, instead, consumers are getting variants. Delaney said the new, lower-cost models promised were a key item from Tesla&#8217;s 2023 investor day.



Freedom Capital Markets Chief Market Strategist Jay Woods said the earnings report will play a key in the story of Tesla moving forward, one that could shift away from electric vehicles.



"The focus may shift away from auto sales and be more about robotics, autonomous driving and AI," Woods said in a weekly <a href="https://dashboard.mailerlite.com/forms/430322/151045652250363569/share">newsletter</a>.



Woods said this is the first quarterly report from Tesla since the near $1 trillion pay package for CEO Elon Musk was revealed. The plan sees Musk take no salary and receive compensation based on hitting milestones.



"Investors will get their first look as to how he and the company are progressing on those goals when they report Wednesday afternoon."



Key Items to Watch: Tesla<a href="https://www.benzinga.com/trading-ideas/movers/25/10/47994838/tesla-stock-climbs-on-record-q3-deliveries"> previously reported third-quarter deliveries</a> of 497,099, a new company record. The company also reported third-quarter production of 447,450 vehicles.



With third-quarter figures reported, attention likely turns to commentary on fourth quarter demand and expectations, with the expiration of the federal EV tax credit a major headwind.



Declining demand for the Cybertruck could also prompt questions about Tesla's plans for the vehicle's future.



The company stated that the Tesla Semi and Cybertruck were both planned for volume production in 2026, as mentioned in<a href="https://www.benzinga.com/markets/earnings/25/07/46587882/tesla-q2-earnings-highlights-revenue-and-earnings-fall-short-new-models-still-set-for-2025-2026" target="_blank" rel="noopener"> the second-quarter</a> results. Analysts and investors will be scrutinizing vehicle timelines to determine if this remains the case.



Tesla's second quarter featured commentary on AI and robotics, but this one could go even further as the company looks to these areas for future growth.



TSLA Price Action: Tesla stock trades at $445.22 on Tuesday versus a 52-week trading range of $212.11 to $488.54. Tesla stock is up 17.4% year-to-date in 2025.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/10/48027001/heres-how-many-vehicles-tesla-has-delivered-produced-in-each-quarter-since-2019-3">Here&#8217;s How Many Vehicles Tesla Has Delivered, Produced In Each Quarter Since 2019</a></li>
</ul>



Image created using artificial intelligence via Midjourney.

Long Ideas

Price Target

Previews

Reiteration

Tesla Q3 Preview: Is The EV Story Over? These Are 3 Key Areas To Watch

Editor's note: Updated with Amazon's response and hiring context.



Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AMZN">AMZN</a>) <a href="https://www.benzinga.com/markets/tech/25/07/46236847/amazon-hits-1-million-robots-should-human-workers-be-worried">celebrated a robotic milestone </a>earlier this year while making sure to say the company was not replacing human workers. New documents show that Amazon could have new plans to replace the necessity to hire human workers thanks to its robotic progression.



 • AMZN stock is gaining positive traction.&nbsp;<a href="https://www.benzinga.com/quote/AMZN" target="_blank" rel="noreferrer noopener">Get the inside scoop here.</a>



<h2 class="wp-block-heading">Robots Take Over</h2>



Over the years, Amazon has<a href="https://www.benzinga.com/analyst-stock-ratings/reiteration/25/06/45820714/amazon-eyes-7-billion-in-savings-by-2032-with-robots-and-ai-powering-delivery-and-fulfillment-analyst"> utilized robots and technology advancements </a>to make its warehouses more efficient and lower its operating costs to help lower costs for consumers and improve operating margins.



With sights set on more improvements to efficiency and costs, Amazon could be looking to replace future workers with robots.



Internal documents from Amazon, <a href="https://www.nytimes.com/2025/10/21/technology/inside-amazons-plans-to-replace-workers-with-robots.html">viewed </a>by The New York Times, show that the e-commerce giant could turn to robots instead of hiring 160,000 people it needs to maintain the growth of its current and future operations by 2027.



By replacing the future human workers with robots, Amazon would save an estimated 30 cents per item purchased and delivered to customers, according to the documents.



With a goal of selling twice as many products as it currently sells by 2033, Amazon would need to hire around 600,000 people. The company is hoping that robot advancements mean it won't have to add to its existing workforce in the U.S., potentially replacing those 600,000 future jobs with robots.



Some of Amazon's warehouses already have fewer and fewer humans being utilized thanks to robotic advancements. Amazon's ultimate goal is for 75% of its operations to be automated.



A document from Amazon's robotics team said it was helping to "flatten Amazon's hiring curve over the next 10 years." The statement came after an advanced warehouse in Shreveport, Louisiana, showed that 25% to 50% fewer human workers were needed with more robots used from the beginning. That design is expected to be copied by 40 Amazon facilities by the end of 2027.



The documents show Amazon may already be preparing for the potential fallout from job losses and a lack of future hiring by making greater efforts in community events to instill goodwill with communities that have warehouses.



"The materials appear to reflect the perspective of just one team and don't represent our overall hiring strategy across our various operations business lines – now or moving forward," Amazon spokesperson Kelly Nantel told the New York Times in statements viewed by Benzinga. "The facts speak for themselves: No company has created more jobs in America over the past decade than Amazon."



Amazon told Benzinga the company will continue to create job opportunities, with an emphasis on higher-paying positions and upskilling programs like its Robotics Apprenticeship program.



The company said efficiency gains have often been used to invest in other areas of the business.



Amazon may also have executives stop using certain words and phrases such as "automation" and "AI" in the future, preferring instead to say "cobot" to imply robots are working in close collaboration with humans.



In the New York Times, Nantel said the documents viewed were incomplete and not the full picture of the e-commerce giant's future hiring goals. Nantel said Amazon plans to hire 250,000 people for the 2025 holiday season, but declined to say if any of those holiday roles would be permanent.



Amazon told the New York Times that it does not have any words or phrase requirements for executives and plans to advance community involvement is not related to job losses.



Read Also: <a href="https://www.benzinga.com/markets/earnings/25/07/46774978/amazon-q2-earnings-highlights-double-beat-ai-progress-across-the-board-continues">Amazon Q2 Earnings Highlights: Double Beat, &#8216;AI Progress Across The Board Continues&#8217;</a>



<h2 class="wp-block-heading">Job Losses Could Have Big Impact</h2>



A Nobel Prize winner told the New York Times the potential job losses from Amazon could have an effect on employers such as Walmart and UPS, which could choose to also advance automation efforts and cut human jobs.



"Nobody else has the same incentive as Amazon to find the way to automate," Massachusetts Institute of Technology professor Daron Acemoglu said. "Once they work out how to do this profitably, it will spread to others, too."



Acemoglu, who won the Nobel Prize in economic science in 2024, said Amazon could quickly go from best to among the worst in employment.



"One of the biggest employers in the United States will become a net job destroyer, not a net job creator."



Amazon is the second-largest employer in the U.S., hiring hundreds of thousands of workers nationwide in recent years. The company's workforce is around 1.2 million employees in the U.S., more than tripling since 2018.



In July, Amazon said that it is offering training for employees to learn robotics management and offering career paths alongside its robotic advancements.



Amazon acquired robotic company Kiva Systems in 2012 for $775 million. Kiva changed its name to Amazon Robotics in 2015 and has been a large focus of the e-commerce company's automation efforts since then.



The acquisition could end up being one of the most important in Amazon's history as the e-commerce giant gets closer to having more robots employed than humans.



<h2 class="wp-block-heading">Amazon Stock Price Action</h2>



Amazon stock is up 2.682% to $222.58 on Tuesday versus a 52-week trading range of $161.43 to $242.52. Amazon stock is up 1.3% year-to-date in 2025.



Read Next: 



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</ul>



Photo: Amazon employee with mobile robot, courtesy Amazon

AMZN

Amazon Memos Point To Robot Takeover — 600,000 Jobs Could Vanish (UPDATED)

Gold prices suffered a sharp correction on Tuesday as investors locked in profits following this year's explosive rally, while optimism across earnings kept industrial stocks powering higher and pushed the Dow Jones <a href="https://www.benzinga.com/markets">to fresh record highs.</a>



The blue-chip index climbed 0.7% to 47,050 points, marking a new all-time high, while the S&amp;P 500 and Nasdaq 100 hovered near record territory.



 • GDX is among today&#8217;s weakest performers. <a href="https://www.benzinga.com/quote/GDX" target="_blank" rel="noreferrer noopener">Review the technical setup here.</a>



General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/GM">GM</a>) <a href="https://www.benzinga.com/markets/earnings/25/10/48324853/general-motors-sees-brighter-road-ahead-as-ceo-eyes-ev-profitability-and-tariff-relief">surged</a> more than 15% — leading the S&amp;P 500 — after the Michigan-based automaker topped earnings expectations and raised its 2025 profit outlook to $12–$13 billion, buoyed by robust demand for pickups and SUVs. The stock is on track for its strongest session since March 2020.



In contrast, gold miners tumbled as bullion prices slumped more than 5% to $4,100 per ounce — their steepest one-day drop since August 2020. 



Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/NEM">NEM</a>) plunged nearly 10%, while the VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/GDX">GDX</a>) slid 9.5%, marking its worst day in over five years. Silver also dropped 6.7%.



Meanwhile, cryptocurrency markets regained momentum, with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rising 2.5% to $113,000.



<h2 class="wp-block-heading">Tuesday&#8217;s Performance In Major U.S. Indices, ETFs</h2>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Major Indices</td><td>Price</td><td>1-day chg. %</td></tr><tr><td>Dow Jones</td><td>47,044.27</td><td>0.7%</td></tr><tr><td>S&amp;P 500</td><td>6,746.19</td><td>0.2%</td></tr><tr><td>Nasdaq 100</td><td>25,135.64</td><td>0.0%</td></tr><tr><td>Russell 2000</td><td>2,497.28</td><td>-0.1%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 12:45 p.m. ET</figcaption></figure>



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



<ul class="wp-block-list">
<li>The&nbsp;Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/VOO">VOO</a>) edged 0.17% higher to $618.24.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/DIA">DIA</a>) inched 0.7% up to $470.45.</li>



<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/QQQ">QQQ</a>)&nbsp;stalled at $611.92.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/IWM">IWM</a>) held steady at $248.04.</li>



<li>The&nbsp;Consumer Discretionary&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XLY">XLY</a>) outperformed, up 1.3%; the&nbsp;Utilities&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XLU">XLU</a>) lagged, down 0.8%.</li>
</ul>



<h2 class="wp-block-heading">Tuesday&#8217;s Movers On Earnings</h2>



<ul class="wp-block-list">
<li>General Electric Company (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/GE">GE</a>) up 1.4%</li>



<li>The Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/KO">KO</a>) up 3.7%</li>



<li>Philip Morris International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/PM">PM</a>) down 7.5%</li>



<li>RTX Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/RTX">RTX</a>) up 7.5%</li>



<li>Danaher Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/DHR">DHR</a>) up 7.0%</li>



<li>Lockheed Martin Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/LMT">LMT</a>) down 3.7%</li>



<li>3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/MMM">MMM</a>) up 5.2%</li>



<li>Northrop Grumman Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/NOC">NOC</a>) down 1.2%</li>



<li>Elevance Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ELV">ELV</a>) down 2.4%</li>



<li>General Motors Company up 15.5%</li>



<li>Nasdaq, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NDAQ">NDAQ</a>) up 3.6%</li>



<li>PACCAR Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/PCAR">PCAR</a>) up 3.3%</li>



<li>Equifax Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/EFX">EFX</a>) down 0.4%</li>



<li>W. R. Berkley Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/WRB">WRB</a>) up 1.1%</li>



<li>PulteGroup, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/PHM">PHM</a>) up 0.7%</li>



<li>Halliburton Company (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/HAL">HAL</a>) up 8.3%</li>



<li>Quest Diagnostics Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/DGX">DGX</a>) down 4.6%</li>



<li>Genuine Parts Company (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/GPC">GPC</a>) up 2.7%</li>



<li>Crown Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/CCK">CCK</a>) up 3.7%</li>



<li>AGNC Investment Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AGNC">AGNC</a>) down 0.5%</li>



<li>Wintrust Financial Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/WTFC">WTFC</a>) up 0.5%</li>



<li>Zions Bancorporation, National Association (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ZION">ZION</a>) up 1.9%</li>



<li>BOK Financial Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/BOKF">BOKF</a>) down 3.1%</li>



<li>Cadence Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/CADE">CADE</a>) down 3.3%</li>



<li>Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/CLF">CLF</a>) down 16.7%</li>
</ul>



Stocks slated to report earnings after the close include Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NFLX">NFLX</a>), Texas Instruments Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TXN">TXN</a>), Capital One Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/COF">COF</a>), Omnicom Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/OMC">OMC</a>), East West Bancorp Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/EWBC">EWBC</a>), Manhattan Associates Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MANH">MANH</a>), Western Alliance Bancorporation (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/WAL">WAL</a>), Agree Realty Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ADC">ADC</a>), and Mattel Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MAT">MAT</a>).



Read Next: • <a href="https://www.benzinga.com/markets/earnings/25/10/48324853/general-motors-sees-brighter-road-ahead-as-ceo-eyes-ev-profitability-and-tariff-relief">General Motors Sees Brighter Road Ahead As CEO Eyes EV Profitability And Tariff Relief</a>



Photo: Jade ThaiCatwalk via Shutterstock

Cryptocurrency

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$BTC

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WTFC

ZION

Gold Sinks 5% On Worst Day In 5 Years, Dow Jones Hits Record Highs: What's Moving Markets Tuesday?

China is tightening its grip on rare-earth exports in a high-stakes economic play, threatening global supply chains in sectors like technology, defense and semiconductors, yet analysts warn the move could backfire by accelerating diversification efforts and provoking <a href="https://www.benzinga.com/topic/tariffs">harsher U.S. tariff retaliation.</a>



On Oct. 9, China expanded its export controls on rare earths and magnet-related materials, critical components in the production of semiconductors, electric vehicle batteries, defense systems and AI hardware. 



The country commands a near-total dominance in the sector, accounting for 92% of global refining and 98% of magnet manufacturing.



In response, President Donald Trump described the move as "sinister and hostile," announcing the possibility of slapping an additional 100% tariff on Chinese imports — on top of the levies already in place.



<h2 class="wp-block-heading">Why Do Rare Earths Matter?</h2>



The rare-earth market may be small — with a global value of just $6 billion last year — but its importance is disproportionate.



These minerals power a broad array of high-tech and military devices. Even minor disruptions in their supply can ripple through global industries.



Goldman Sachs analyst Daan Struyven said the highest risk of Chinese export halts falls on samarium, graphite, lutetium and terbium — all of which are vital for defense technologies and electronics.



He also added that the May tightening led to a 31% year-over-year decline in rare-earth export volumes and a staggering 74% drop in magnet exports, triggering disruptions such as a brief pause in Ford Motor Co.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/F">F</a>) EV production.



<h2 class="wp-block-heading">Can The World Afford To Rely On China?</h2>



Andrew Tilton, another Goldman Sachs economist, said China's grip extends well beyond raw mineral supply. The country dominates the entire rare-earth value chain — from extraction to processing to final magnet assembly.



"While ‘light' rare earths are more widely available, the ‘heavy' ones — such as dysprosium and terbium — are much harder to find outside of China and Myanmar," Tilton said. 



"The U.S. is investing heavily in this space, but several major facilities won't be online until 2028."



He added that while current defense stockpiles are sufficient for now, a prolonged cutoff could ultimately constrain production in critical sectors.



<h2 class="wp-block-heading">Would Trump&#8217;s 100% Tariff Hurt China More Than The US?</h2>



Goldman Sachs estimates the total drag on China's GDP growth could be just over 2.5 percentage points if Trump's proposed tariffs are fully implemented. About 1 percentage point has already been baked into projections, following this year's earlier round of tariff hikes.



Trade diversion and rerouting to other Asian economies like Vietnam have softened the blow somewhat. But the threat of major new tariffs — particularly on sensitive goods like electronics and machinery — could accelerate the global decoupling from Chinese manufacturing.



Even so, Polymarket bettors currently see only an 11% chance that the full 100% tariffs will take effect by Nov. 1, the deadline Trump set.



Both sides have reportedly signaled some willingness to deescalate ahead of a potential meeting between Trump and Chinese President Xi Jinping at the APEC summit in South Korea.



<h2 class="wp-block-heading">What Are The Global Implications?</h2>



In a note shared Tuesday, Veteran Wall Street analyst Ed Yardeni said China's move risks triggering a "boomerang effect," as companies and governments begin reassessing their supply chain strategies.



G7 finance ministers have already pledged to coordinate their responses to China's export controls, and the Trump administration has been quick to align itself with allies like Australia, Canada and India.



U.S. officials aren&#8217;t sitting still, either. Earlier this year, Washington invested $400 million in MP Materials Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/MP">MP</a>) to support domestic rare-earth magnet production and took a 10% stake in Canadian miner Trilogy Metals Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/TMQ">TMQ</a>)



As Yardeni put it, Beijing "may have gone too far this time." By weaponizing its economic pressure points, China risks convincing the world that doing business there is just too risky.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/asia/25/10/48303036/china-economy-trump-tariffs-tech-exports-property-crisis">China&#8217;s Growth Engine Is Sputtering—And Trump&#8217;s Tariffs Are To Blame</a></li>
</ul>



Photo: Shutterstock

Asia

Global

Econ #s

Trump's 100% Tariff Threat Turns China's Rare-Earth Play Into A Dangerous Gamble

General Motors Company (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/GM">GM</a>) stock rose Tuesday after a clean beat on profit and sales, as CEO Mary Barra <a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">revved the 2025 outlook</a>.



EV losses are narrowing, tariffs are easing, and the firm is <a target="_blank" href="https://investor.gm.com/static-files/51db67b7-798b-4ae3-9486-1a2228bdfc66" rel="noreferrer noopener">steering</a> toward a leaner, more profitable path.



The auto behemoth registered third-quarter adjusted earnings per share of&nbsp;$2.80, <a target="_blank" href="https://www.benzinga.com/pressreleases/25/10/n48322362/gm-releases-2025-third-quarter-results" rel="noreferrer noopener">beating the analyst consensus estimate $2.31</a>.



Also Read: <a target="_blank" href="http://Coca-Cola, Netflix And 3 Stocks To Watch Heading Into Tuesday" rel="noreferrer noopener">Coca-Cola, Netflix And 3 Stocks To Watch Heading Into Tuesday</a>



Quarterly sales of $48.59 billion (down 0.3% year over year) topped Street view of $45.27 billion, driven by Chevrolet&#8217;s rise to America&#8217;s No. 2 electric-vehicle brand, with the Equinox EV emerging as the best-selling non-Tesla model, the company said.



Amid shifting rules and fading federal incentives, General Motors sees slower near-term EV adoption and is reassessing capacity. The review triggered a third-quarter special charge and may bring more, aiming to cut overcapacity and EV losses by 2026.



Net sales in the Automotive segment totaled 44.256 billion, lower than $44.735 billion in the year-ago period.



&#8220;In the U.S., we achieved our highest third-quarter market share since 2017 with strong margins, and our restructured China business was profitable once again,&#8221; said Barra&nbsp;in the company&#8217;s&nbsp;<a target="_blank" href="https://investor.gm.com/news-releases/news-release-details/q3-2025-letter-shareholders" rel="noreferrer noopener">letter</a> to shareholders.



<h2 class="wp-block-heading">Margins Contract</h2>



Adjusted EBIT margin contracted to 6.9% in the quarter under review from 8.4% in the year-ago period.



Adjusted EBIT&nbsp;decreased&nbsp;to $3.376 billion from $4.115 billion, primarily due to the impact of tariffs, higher warranty-related costs, and lower volume.



Net income margin contracted to 2.7% from 6.3%.



In her letter to the shareholders, Barra highlighted that earlier this year, the firm announced $4 billion in capital investments to onshore production at plants in Tennessee, Kansas, and Michigan over the next two years.



Once these investments come online, the firm plans to produce more than two million vehicles per year in the United States.



&#8220;We are also investing close to $1 billion to build a new generation of advanced, fuel-efficient V8 engines in New York. Importantly, we are maintaining our capital discipline while adding this production and creating new jobs,&#8221; the CEO added.&nbsp;



General Motors&#8217; third-quarter dealer inventory fell 16% from a year ago to 527,000 units, keeping the company on track to end the year with 50 to 60 days&#8217; supply. The electric-vehicle inventory is down nearly 30% since the end of June.



Strong cash flow is supporting a balanced capital-allocation plan. In the quarter, General Motors invested $2.1 billion in capital projects, paid down $1.3 billion in balance-sheet debt and repurchased $1.5 billion in stock.



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



General Motors narrowed its 2025 GAAP earnings-per-share guidance to $8.30 to $9.05 from $8.22 to $9.97, versus a $9.19 analyst estimate.



The company raised its 2025 adjusted EPS outlook to $9.75 to $10.50 from $8.25 to $10.00, above the $9.46 consensus.



The firm expects to recognize more than $200 million in Super Cruise revenue in 2025.



It also introduced a new MSRP Offset program designed to make U.S.-built vehicles more competitive over the next five years.



&#8220;Looking ahead, our top priority is to restore North America to our historical 8–10% EBIT-adjusted margins. We are focused on driving EV profitability, maintaining production and pricing discipline, managing fixed costs, and further reducing tariff exposure,&#8221; Barra added.



<h2 class="wp-block-heading">Tariff Update</h2>



General Motors said its 2025 full-year gross tariff impact has improved to $3.5 billion to $4.5 billion, down from $4 billion to $5 billion.



The outlook assumes tariff rates stay at current levels and includes indirect costs from materials and suppliers.



New tariff revisions expand the MSRP tariff offset, with the financial benefit recognized in the fourth quarter.



Mitigation actions are expected to offset about 35% of the impact due to a lower tariff base.



Price Action: GM shares were trading higher by 11.72% to $64.80&nbsp;premarket at last check Tuesday.&nbsp;&nbsp;



Read Next:



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<li><a href="https://www.benzinga.com/markets/tech/25/10/48296385/tesla-investor-ross-gerber-says-super-sad-to-see-federal-ev-subsidies-end-credits-created" target="_blank" rel="noreferrer noopener">Tesla Investor Ross Gerber Says &#8216;Super Sad&#8217; To See Federal EV Subsidies End: &#8216;Credits Created&#8230;&#8217;</a></li>
</ul>

Guidance

General

General Motors Sees Brighter Road Ahead As CEO Eyes EV Profitability And Tariff Relief

Homebuilder PulteGroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/PHM">PHM</a>) reported strong financial results for the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/25/10/b48322357/pultegroup-reports-third-quarter-2025-financial-results" rel="noreferrer noopener">third quarter&nbsp;of 2025</a>.



<ul class="wp-block-list">
<li>PHM shares are experiencing downward pressure. <a href="https://www.benzinga.com/quote/PHM" target="_blank" rel="noreferrer noopener">Check the analyst take here</a></li>
</ul>



The company posted adjusted earnings of&nbsp;$2.96&nbsp;per share, beating the consensus estimate of&nbsp;$2.90. Revenue was&nbsp;$4.40 billion, a decrease of 2% year over year, but it surpassed the analysts' <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">expectations of&nbsp;$4.29 billion</a>.



The SG&amp;A ratio stood at 9.4%, which is the same as last year. Financial services pre-tax income declined to&nbsp;$44&nbsp;million from $55 million a year ago&nbsp;due to lower closings.



Also Read: <a target="_blank" href="https://www.benzinga.com/etfs/sector-etfs/25/09/47631980/fed-cut-looms-mortgage-rates-sink-are-homebuilder-etfs-the-hidden-trade" rel="noreferrer noopener">Fed Cut Looms, Mortgage Rates Sink: Are Homebuilder ETFs The Hidden Trade?</a>



Lower profit was driven primarily by lower closing volumes in the company's homebuilding operations and a decrease in the mortgage capture rate to 84%, compared with 87% last year.



<h2 class="wp-block-heading">Key Metrics</h2>



Home sale revenue declined&nbsp;2%&nbsp;year over year (Y/Y) to&nbsp;$4.2 billion, due to a&nbsp;5%&nbsp;drop in closings to 7,529&nbsp;homes.



The decrease was partially offset by a 3% Y/Y&nbsp;rise in the average selling price to&nbsp;$564,000. Home sale gross margin was&nbsp;26.2%, down from&nbsp;28.8%&nbsp;a year ago.



Net new orders fell to 6,638&nbsp;homes from 7,031&nbsp;in the prior-year quarter, with the dollar value of new orders declining to&nbsp;$3.6&nbsp;billion&nbsp;from&nbsp;$3.9&nbsp;billion.



The company ended the quarter with a backlog of 9,888&nbsp;homes valued at&nbsp;$6.2&nbsp;billion.



For the nine months ended September 30, 2025, PulteGroup reported operating cash flow of&nbsp;$1.10 billion, versus&nbsp;$1.11 billion&nbsp;in the same period a year earlier.



PulteGroup finished the quarter with&nbsp;$1.5&nbsp;billion&nbsp;in cash and reduced its debt-to-capital ratio to&nbsp;11.2%. The company repurchased 2.4&nbsp;million shares for&nbsp;$300 million during the period.



<h2 class="wp-block-heading">Management Commentary</h2>



CEO&nbsp;Ryan Marshall&nbsp;said. "Within the current operating conditions, our diversified business platform is enabling PulteGroup to deliver strong financial results, while we continue to position the business for growth when buyer demand improves in the future."



"We are encouraged to see that interest rates have moved lower, but continue to monitor buyer demand that has been impacted by weaker consumer confidence and ongoing affordability challenges."



Investors can gain exposure to the stock via iShares U.S. Home Construction ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ITB">ITB</a>)&nbsp;and First Trust Dorsey Wright Momentum &amp; Value ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/DVLU">DVLU</a>).



Price Action: PulteGroup shares were down 1.04% at $121.99 during premarket trading on Tuesday, <a target="_blank" href="https://www.benzinga.com/pro/" rel="noreferrer noopener">according to Benzinga Pro data</a>.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/real-estate/25/10/48256024/homebuilder-stocks-october-2025-housing-market-trends-mortgage-rates-today" target="_blank" rel="noreferrer noopener">Housing Market Sends Signs Of Life—Are Homebuilder Stocks Finally a Buy?</a></li>
</ul>



Photo by Kristi Blokhin via Shutterstock

DVLU

Homebuilder Pulte CEO Cites Weak Demand, Margin Pressure In Q3

Northrop Grumman Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/NOC">NOC</a>) reported <a target="_blank" href="https://investor.northropgrumman.com/static-files/c1c4d500-74fd-4104-b556-aaaedf032cbe" rel="noreferrer noopener">third-quarter</a> 2025 earnings on Tuesday before market open, surpassing Wall Street expectations, even as sales came in slightly below forecasts.



The aerospace and defense contractor, posted earnings of $7.67 per share, up from $7.00 a year earlier and ahead of analyst estimates of $6.46, benefited from robust segment operating performance.



Quarterly sales rose 4% year over year to $10.423 billion, up from $9.996 billion, though they came in slightly below Wall Street&#8217;s estimate of $10.712 billion.



Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-stock-ratings/reiteration/25/07/46584307/northrop-grummans-sentinel-surprise-propels-analyst-confidence-stock-forecast" rel="noreferrer noopener">Northrop Grumman&#8217;s Sentinel Surprise Propels Analyst Confidence, Stock Forecast</a>



Operating income for the third quarter of 2025 rose $122 million, or 11%, driven by a $131 million increase in segment operating income.



The operating margin improved to 11.9% from 11.2% in the prior year, reflecting stronger segment margins and overall operational efficiency.



Northrop Grumman reported net awards of $12.2 billion in the third quarter of 2025, bringing total backlog to $91.4 billion. The company also posted a book-to-bill ratio of 1.17.



The company ended the third quarter with cash and cash equivalents of $1.96 billion.



<h2 class="wp-block-heading">Segment Performance</h2>



Sales in the Aeronautics Systems segment rose 6% in the third quarter of 2025, driven by ramp-up on the E-130J TACAMO and higher F-35 volume, partly offset by lower F/A-18 production. Operating income declined 1% as a softer margin offset higher sales. The operating margin slipped to 9.7% from 10.4%, reflecting lower net contract margin adjustments.



The Defense Systems segment posted a 14% sales increase, supported by higher volumes in armament and IBCS programs and growth in Sentinel, partially offset by the training services divestiture. Operating income rose 46%, with the margin improving to 11.4% from 8.9%, driven by favorable contract adjustments and a shift toward higher-margin, fixed-price work.



Sales in Mission Systems grew 10%, led by strength in restricted microelectronics, marine systems, and international radar programs. Operating income climbed 32%, with the margin expanding to 16.7% from 13.8% on higher Estimate at Completion (EAC) adjustments, including a $68 million favorable adjustment in restricted programs.



The Space Systems segment reported a 6% sales decline due to the wind-down of restricted space and NGI programs and lower SDA satellite volume, partly offset by growth in Commercial Resupply Services. Operating income fell 14%, with the margin decreasing to 11.0% from 12.0% on fewer favorable contract adjustments versus last year.



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



For full-year 2025, Northrop Grumman narrowed its outlook, trimming its sales guidance while raising its earnings forecast. The company now expects revenue between $41.7 billion and $41.9 billion, compared with its prior range of $42.05 billion to $42.25 billion, and below the analyst consensus of $42.17 billion.



However, Northrop lifted its Mark-to-Market (MTM) adjusted EPS guidance to $25.65 to $26.05 per share, up from the earlier range of $25.00 to $25.40, and above the Street estimate of $25.41 per share.



Aeronautics Systems now expects 2025 sales in the high $12 billion range, down from the prior low $13 billion estimate, with operating margins in the low-to-mid 6% range. Defense Systems sales are projected in the low $8 billion range, with margins improving to the high 10% range.



Mission Systems anticipates mid $12 billion in sales, slightly above earlier estimates, while maintaining healthy mid-14% margins. Space Systems are expected to generate mid-to-high $10 billion in sales, with operating margins around 10%.



&#8220;The momentum we are building in our business drove a strong third quarter performance to achieve our financial objectives for mid-single-digit growth, expanding segment margins, and growing cash flows year over year. As a result of this performance and our positive outlook for the remainder of the year, we are once again increasing our 2025 EPS guidance,&#8221; said Kathy Warden, chair, chief executive officer and president.



Price Action: NOC shares were trading lower by 1.33% to $594.01&nbsp;premarket at last check Tuesday.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/earnings/25/10/48323837/post-it-maker-3m-lifts-outlook-as-ceo-highlights-accelerating-growth" target="_blank" rel="noreferrer noopener">Post-It Maker 3M Lifts Outlook As CEO Highlights Accelerating Growth</a></li>
</ul>



Photo by Ian Dewar Photography via Shutterstock

Earnings Beats

Northrop Grumman CEO Sees Expanding Margins Driving Higher 2025 Profits

U.S. stock futures are in the green on Tuesday, following Monday&#8217;s rally, with major benchmark indices inching higher pre-market.



This comes as billions of dollars worth of projects <a href="https://www.benzinga.com/news/politics/25/10/48297322/trump-administration-halts-11-billion-worth-of-army-corps-of-engineers-projects-in-four-cities-amid-shutdown">get held up</a> as the federal government shutdown drags into its third week, with U.S. Treasury Secretary Scott Bessent warning last week that it has now begun impacting the economy and people&#8217;s lives.



Investors on Tuesday will be closely watching the earnings of several major companies, such as Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NFLX">NFLX</a>), Coca-Cola Co.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/KO">KO</a>), Philip Morris International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/PM">PM</a>) and RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/RTX">RTX</a>), among several others, to set the tone for the rest of this week. 



See Also: <a href="https://www.benzinga.com/trading-ideas/movers/25/10/48317225/5-stocks-to-buy-from-overlooked-markets">5 Stocks To Buy From Overlooked Markets</a>



Meanwhile, the 10-year Treasury bond yielded 3.97% and the two-year bond was at 3.45%. The CME Group&#8217;s FedWatch&nbsp;<a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html" target="_blank" rel="noreferrer noopener">tool</a>‘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"><table class="has-fixed-layout"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Dow Jones</td><td>0.045%</td></tr><tr><td>S&amp;P 500</td><td>0.041%</td></tr><tr><td>Nasdaq 100</td><td>0.016%</td></tr><tr><td>Russell 2000</td><td>-0.02%</td></tr></tbody></table></figure>



The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SPY">SPY</a>) and&nbsp;Invesco QQQ Trust ETF&nbsp;(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, are down in premarket on Tuesday. The SPY is down 0.07% at $670.79, while the QQQ is down 0.36%, trading at $611.18, according to&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>&nbsp;data.



<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="Stock Market News &#x7C; Netflix, Coca-Cola And RTX Corp In Focus &#x7C; October 21 2025" width="500" height="281" src="https://www.youtube.com/embed/JupAmJTQrrg?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">Stocks In Focus</h2>



<h3 class="wp-block-heading">Netflix</h3>



<ul class="wp-block-list">
<li>Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NFLX">NFLX</a>) shares are up 0.27% pre-market, with the company expected to release its third-quarter results after markets close on Tuesday. </li>



<li>According to Benzinga&#8217;s Edge Stock Rankings, Netflix shares score high on Momentum, Growth and Quality, with a favorable price trend in the short, medium and long terms. Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a> for more details on the stock.</li>
</ul>



<figure class="wp-block-image aligncenter size-large is-resized"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="148" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21033448/Screenshot-2025-10-21-at-1.04.29-PM-1024x148.png" alt="" class="wp-image-1123118" style="width:726px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21033448/Screenshot-2025-10-21-at-1.04.29-PM-1024x148.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21033448/Screenshot-2025-10-21-at-1.04.29-PM-300x43.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21033448/Screenshot-2025-10-21-at-1.04.29-PM-768x111.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21033448/Screenshot-2025-10-21-at-1.04.29-PM.png 1526w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



<h3 class="wp-block-heading">GE Aerospace</h3>



<ul class="wp-block-list">
<li>Shares of GE Aerospace (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/GE">GE</a>) are up 0.43% pre-market, ahead of the company&#8217;s third-quarter results on Tuesday, before markets open. </li>



<li>GE shares score high in Benzinga&#8217;s Edge Stock Rankings, with a favorable price trend in the short, medium and long terms. Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a> for deeper insights into the stock, its finances and operations. </li>
</ul>



<figure class="wp-block-image aligncenter size-large is-resized"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="147" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21033857/Screenshot-2025-10-21-at-1.08.44-PM-1024x147.png" alt="" class="wp-image-1123126" style="width:731px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21033857/Screenshot-2025-10-21-at-1.08.44-PM-1024x147.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21033857/Screenshot-2025-10-21-at-1.08.44-PM-300x43.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21033857/Screenshot-2025-10-21-at-1.08.44-PM-768x110.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21033857/Screenshot-2025-10-21-at-1.08.44-PM.png 1530w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



<h3 class="wp-block-heading">The Coca-Cola Co</h3>



<ul class="wp-block-list">
<li>Shares of beverages giant, Coca-Cola Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/KO">KO</a>) are up 0.10% pre-market, in anticipation of its third quarter results before the opening bell on Tuesday. </li>



<li>The stock does well on Growth, but performs poorly on other metrics in Benzinga&#8217;s Edge Stock Rankings, while featuring a favorable price trend in the short and long terms. Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a> for deeper insights into the stock, its peers and competitors.</li>
</ul>



<figure class="wp-block-image aligncenter size-large is-resized"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="149" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21034219/Screenshot-2025-10-21-at-1.12.08-PM-1024x149.png" alt="" class="wp-image-1123132" style="width:728px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21034219/Screenshot-2025-10-21-at-1.12.08-PM-1024x149.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21034219/Screenshot-2025-10-21-at-1.12.08-PM-300x44.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21034219/Screenshot-2025-10-21-at-1.12.08-PM-768x111.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21034219/Screenshot-2025-10-21-at-1.12.08-PM.png 1530w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



<h3 class="wp-block-heading">Philip Morris International</h3>



<ul class="wp-block-list">
<li>Shares of tobacco company Philip Morris International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/PM">PM</a>) are down 0.04% in pre-market trade, ahead of the company&#8217;s third-quarter earnings call at 9 AM on Tuesday. </li>



<li>The stock does poorly across the board in Benzinga&#8217;s Edge Stock Rankings, but has a favorable price trend in the long term. Additional performance details are available <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a>.</li>
</ul>



<figure class="wp-block-image aligncenter size-large is-resized"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="149" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21034550/Screenshot-2025-10-21-at-1.15.42-PM-1024x149.png" alt="" class="wp-image-1123137" style="width:742px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21034550/Screenshot-2025-10-21-at-1.15.42-PM-1024x149.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21034550/Screenshot-2025-10-21-at-1.15.42-PM-300x44.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21034550/Screenshot-2025-10-21-at-1.15.42-PM-768x112.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21034550/Screenshot-2025-10-21-at-1.15.42-PM.png 1524w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



<h3 class="wp-block-heading">RTX Corporation</h3>



<ul class="wp-block-list">
<li>Defense industry heavyweight, RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/RTX">RTX</a>) is up 0.49% pre-market, as investors eagerly await the company&#8217;s third quarter results before markets open on Tuesday. </li>



<li>The stock scores high on Momentum and Quality, but does poorly on Value and Growth in Benzinga&#8217;s Edge Stock Rankings. It has a favorable price trend in the short, medium and long terms. Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a> for more insights on the stock and to see how it compares with competitors. </li>
</ul>



<figure class="wp-block-image aligncenter size-large is-resized"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="149" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21035000/Screenshot-2025-10-21-at-1.19.49-PM-1024x149.png" alt="" class="wp-image-1123142" style="width:742px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21035000/Screenshot-2025-10-21-at-1.19.49-PM-1024x149.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21035000/Screenshot-2025-10-21-at-1.19.49-PM-300x44.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21035000/Screenshot-2025-10-21-at-1.19.49-PM-768x112.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21035000/Screenshot-2025-10-21-at-1.19.49-PM.png 1528w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



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



The markets witnessed a strong rally on Monday, with most sectors in the green, barring consumer staples and utilities. Strong outperformers included materials, industrials and financials, posting gains of 1.19%, 1.18% and 1.17% during the day, respectively.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>+1.37%</td><td>22,990.54</td></tr><tr><td>S&amp;P 500</td><td>+1.07%</td><td>6,735.13</td></tr><tr><td>Dow Jones</td><td>+1.12%</td><td>46,706.58</td></tr><tr><td>Russell 2000</td><td>+1.95%</td><td>2,499.90</td></tr></tbody></table></figure>



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



Ahead of the trading day, leading analysts are highlighting certain noteworthy market and retail investor behaviors, which could shape equities over the next couple of days. 



Popular investing account on X, The Kobeissi Letter notes that the retail investor buying streak has continued unabated, with individual investors being &#8220;net buyers of U.S. stocks in 23 of the last 26 weeks.&#8221; It notes that last week marked the &#8220;7th consecutive weekly purchase,&#8221; which it says was also &#8220;the largest in 5 months.&#8221;



&#8220;All retail has been net buyers of ETFs in 206 of 208 trading days so far in 2025,&#8221; the post says, before concluding by saying, &#8220;Retail appetite for risk shows no&nbsp;sign&nbsp;of&nbsp;easing.&#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">Retail investors' buying streak continues: Individual investors have been net buyers of US stocks in 23 of the last 26 weeks. Last week marked the 7th consecutive weekly purchase and the largest in 5 months. Retail investors have also recorded 24 straight weeks of net… <a href="https://t.co/jc6sVCcnWi">pic.twitter.com/jc6sVCcnWi</a>&mdash; The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1980346813019209789?ref_src=twsrc%5Etfw">October 20, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Analyst Ryan Detrick, the Chief Market Strategist at the Carson Group, highlighted that the VIX score &#8220;nearly hit 29 on Friday,&#8221; indicating higher volatility, uncertainty and fear, and yet, he notes that the S&amp;P 500 was near its all-time highs during the day.



Detrick warns that when such trends were seen previously, such as during the late 90s, 2020 and 2021, the markets witnessed &#8220;huge melt-ups.&#8221;



&#8220;Yes, eventually we saw this signal mark the peak, but the first signal in previous clusters saw very strong future returns,&#8221; he said on Monday, 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">VIX nearly hit 29 on Friday, yet S&amp;P 500 was near ATHs. Previous times we saw anything like this kicked off huge melt-ups in the late &#39;90s and &#39;20/&#39;21. Yes, eventually we saw this signal mark the peak, but the first signal in previous clusters saw very strong future returns. <a href="https://t.co/jfmMN7CNtS">pic.twitter.com/jfmMN7CNtS</a>&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1980292996676673540?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">Upcoming Economic Data</h2>



Investors on Tuesday will be keeping an eye on the following events,



<ul class="wp-block-list">
<li>Fed Governor Christopher Waller&#8217;s opening remarks at the Federal Reserve Board at 9 AM.</li>
</ul>



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



Crude oil futures are trading lower in the early New York session by 0.16% to hover around $56.93 per barrel.



Gold Spot US Dollar is down 2.08%, hovering around $4,267.72 per ounce. Its last record high stood at $4,379.29 per ounce. The U.S. Dollar Index spot was up 0.20% at 98.8000.



Meanwhile, Bitcoin is trading 2.43% lower at $107,943.20 per coin.



Asian markets are in the green on Tuesday, with China&#8217;s Shenzhen and Shanghai markets posting big gains, followed by Singapore&#8217;s Straits Times Index. Australia&#8217;s ASX 200 and New Zealand&#8217;s NZX 50 were up as well, while European markets trade mixed in early trade.



Read More: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/market-summary/25/10/48298162/dow-jumps-over-200-points-as-markets-shrug-off-bank-fears-investor-fear-eases-fear-greed-index-moves-to-fear-zone">Dow Jumps Over 200 Points As Markets Shrug Off Bank Fears; Investor Fear Eases, Fear &amp; Greed Index Moves To &#8216;Fear&#8217; Zone</a></li>
</ul>



Photo courtesy: godongphoto / Shutterstock.com

Futures

Federal Reserve

Stock Market Today: S&P 500, Dow Jones, Nasdaq Futures Climb—Netflix, Coca-Cola And RTX Corp In Focus

Fund manager and former White House Communications Director, Anthony Scaramucci, has said that blockchain is reshaping how global finance works, and that Bitcoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) advantage lies in its portability and efficiency compared with traditional assets like gold.



<h2 class="wp-block-heading">It Removes &#8216;Six Or Seven&#8217; Intermediaries From Transactions</h2>



Highlighting the sharp contrast between gold and Bitcoin, Scaramucci said, &#8220;You're not moving gold around the world the way you can move Bitcoin,&#8221; emphasizing the latter&#8217;s growing role as a digital, borderless asset, while appearing on CNBC&#8217;s &#8220;Squawk Box.&#8221;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&quot;You can&#39;t move gold around the world the way you can move bitcoin.&quot; says Skybridge&#39;s <a href="https://twitter.com/Scaramucci?ref_src=twsrc%5Etfw">@Scaramucci</a>. <a href="https://t.co/1ApvN5viR9">https://t.co/1ApvN5viR9</a>&mdash; Squawk Box (@SquawkCNBC) <a href="https://twitter.com/SquawkCNBC/status/1980290564412309883?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/crypto/cryptocurrency/25/10/48218593/nyc-mayor-eric-adams-creates-americas-first-ever-municipal-office-for-crypto-and-blockchain">NYC Mayor Eric Adams Creates America&#8217;s First-Ever Municipal Office For Crypto And Blockchain</a>



He pointed to growing institutional interest and real-world applications of blockchain across markets, including major exchanges. &#8220;Over time they're going to use the blockchain to do this. It's safer, cheaper,&#8221; he said, referring to how financial institutions are exploring settlement and clearing systems powered by distributed ledger technology.



Scaramucci highlighted the sharp contrasts between traditional financial infrastructure and blockchain-based systems, pointing to settlement speed and efficiency have evolved. Recalling his early days on Wall Street, he said, &#8220;When I joined Goldman Sachs in 1989 it was T+5,&#8221; referring to the five-day settlement cycle for all trades and transactions.



With blockchain, the timeline is shrinking dramatically, &#8220;a few minutes or an hour to have finality in a transaction,&#8221; he said, adding that it removes &#8220;six or seven potential intermediaries out of the transaction.&#8221;



<h2 class="wp-block-heading">Major Banks Advance Tokenization And Stablecoins</h2>



Scaramucci discussed the future of banking in the face of these disruptive innovations, drawing parallels with the telecom industry. &#8220;The banks are going to adapt the way the telecom companies adapted and they&#8217;ll be providing services that are slightly different but they&#8217;ll still be valuable services to people,&#8221; he said.



In recent months, several major banks, including Citigroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/C">C</a>) and Societe Generale SA (OTC:<a class="ticker" href="https://www.benzinga.com/quote/SCGLY">SCGLY</a>) have <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44378097/banks-vs-blockchain-will-2025-transform-the-payments-sector">undertaken several measures</a> to reshape traditional banking processes. 



This includes tokenized inter-branch deposit systems, alongside a new euro-denominated stablecoin on Ethereum to make payments faster and more secure.



Price Action: Bitcoin was seen trading 0.14% higher at $107,785.01 at the time of writing, according to <a href="https://pro.benzinga.com/">data from Benzinga Pro.</a>



Read More: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/10/48202175/blackrocks-ceo-says-crypto-will-grow-rapidly-heres-how">BlackRock&#8217;s CEO Says Crypto Will Grow &#8216;Rapidly&#8217; — Here&#8217;s How</a></li>
</ul>



Photo Courtesy: Al Teich On Shutterstock.com

SCGLY

Anthony Scaramucci Says You Can't Move Gold Around The World, But You Can Move Bitcoin — It Removes 'Six Or Seven… Intermediaries'

LinkedIn co-founder Reid Hoffman warns that Silicon Valley's software-centric focus is causing investors to overlook the next AI frontier in healthcare and biology.



<h2 class="wp-block-heading">Silicon Valley's Software Obsession Limits AI Opportunities</h2>



On a recent episode of the a16z podcast, Hoffman argued that the tech industry's "everything should be done in software" mindset has become a limitation.&nbsp;



"What are the areas where the AI revolution will be magical? That's probably where I've been putting the majority of my co-founding time, invention time," he said.



<h2 class="wp-block-heading">AI Could Transform Healthcare And Drug Discovery</h2>



Hoffman pointed to biology and healthcare as areas where AI could have transformative effects.&nbsp;



"I've been thinking about the intersection of the worlds of atoms and the worlds of bits," he explained.&nbsp;



Rather than designing drugs independently, he said AI could guide scientists toward the most promising experiments.



&nbsp;"Simply doing prediction and getting that prediction right… It doesn't have to be right 100% of the time. It has to be right like 1% of the time, because you can validate the other 99%," Hoffman said.



<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="Reid Hoffman on AI, Consciousness, and the Future of Labor" width="500" height="281" src="https://www.youtube.com/embed/brjL6iyoEhI?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div></figure>



See Also:&nbsp;<a href="https://www.benzinga.com/markets/tech/25/10/48179255/nvidia-amd-marvell-taiwan-semiconductor-surge-after-friday-dip-on-trumps-china-remarks-openai-broadcom-ai-chip-deal" target="_blank" rel="noreferrer noopener">Nvidia, AMD, Marvell, Taiwan Semiconductor Surge After Friday Dip On Trump&#8217;s China Remarks, OpenAI-Broadcom AI Chip Deal</a>



<h2 class="wp-block-heading">Wood and Microsoft Highlight AI's Growing Role In Healthcare</h2>



Earlier this month, Microsoft partnered with Harvard Medical School to <a href="https://www.benzinga.com/markets/tech/25/10/48122631/microsoft-partners-with-harvard-medical-school-to-bolster-ai-sources-report">access health content on diseases and wellness</a>, aiming to diversify its AI sources. 



The upcoming Copilot release was set to use Harvard Health Publishing material to deliver medical guidance, as part of Microsoft's plan to reduce reliance on OpenAI. 



Dominic King, Microsoft's health AI head, said the tool would provide credible and accessible health information.



Last week, Ark Invest CEO Cathie Wood said the real <a href="https://www.benzinga.com/markets/tech/25/10/48219448/cathie-wood-warns-wall-street-is-missing-ais-biggest-opportunity-in-healthcare-calling-it-sleeper-investment-poised-for-massive-returns">AI revolution was unfolding in hospitals and labs</a>, not in chatbots or self-driving cars, and that Wall Street had largely overlooked it. 



She highlighted healthcare as "the most profound application of AI" and noted that AI combined with gene sequencing and CRISPR technology could transform medicine. 



Wood also pointed out that technologies like AI, robotics, blockchain, and genomics were entering rapid growth phases, while some big tech firms, including Microsoft, Nvidia, and Alphabet Inc.'s&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/GOOG">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/GOOGL">GOOGL</a>), might see slower growth as investors favored "safe" stocks.



Read More:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/07/46433619/mike-johnson-breaks-ranks-with-trump-on-the-very-delicate-subject-of-epstein-im-for-transparency" target="_blank" rel="noreferrer noopener">Mike Johnson Breaks Ranks With Trump On The ‘Very Delicate Subject' Of Epstein: ‘I'm For Transparency'</a></li>
</ul>



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



Photo courtesy: Shutterstock

MSFT

NVDA

Reid Hoffman Warns Silicon Valley Blind Spot Could Fuel Next AI Revolution In Healthcare And Biology

President Donald Trump is evaluating plans to take mortgage giants Federal National Mortgage Association (OTC:<a class="ticker" href="https://www.benzinga.com/quote/FNMA">FNMA</a>), or Fannie Mae, and Federal Home Loan Mortgage Corp (OTC:<a class="ticker" href="https://www.benzinga.com/quote/FMCC">FMCC</a>), or Freddie Mac, according to Bill Pulte, the Director of the Federal Housing Finance Agency.



<h2 class="wp-block-heading">Mortgage Giants Have $7 Trillion In Assets</h2>



On Monday, in a post on X, Pulte said that Trump had made the right decision not to take the government-sponsored enterprises public during his first term in office. 



He said that Trump is now &#8220;opportunistically evaluating an offering,&#8221; which he says could come as &#8220;early as the end of 2025.&#8221; 



See Also: <a href="https://www.benzinga.com/real-estate/25/10/48256024/homebuilder-stocks-october-2025-housing-market-trends-mortgage-rates-today">Housing Market Sends Signs Of Life—Are Homebuilder Stocks Finally a Buy?</a>



<figure class="wp-block-embed aligncenter 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">President Trump made the right decision not to take Freddie and Fannie public during his first term and is opportunistically evaluating an offering this time around, which could be as early as the end of 2025.&mdash; Pulte (@pulte) <a href="https://twitter.com/pulte/status/1980396941239583025?ref_src=twsrc%5Etfw">October 20, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The two companies that were placed under Federal conservatorship during the 2008 financial crisis hold massive sway over the U.S. housing market. Pulte highlighted their size and scale, stating, &#8220;Combined, Freddie and Fannie have over $7 trillion of assets on their balance sheets.&#8221;



He said that the administration is &#8220;focused on running them like a business and taking out costs,&#8221; adding that as a result, he thinks there&#8217;s no &#8220;limit to what they could be worth one day.&#8221;



<figure class="wp-block-embed aligncenter 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">Combined, Freddie and Fannie have over $7 trillion of assets on their balance sheets.  We are focused on running them like a business and taking out costs so I don't think there's any limit to what they could be worth one day.&mdash; Pulte (@pulte) <a href="https://twitter.com/pulte/status/1980396617405723092?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">Experts Split Over Freddie And Fannie IPO Plans</h2>



Recently, Trump contemplated plans for <a href="https://www.benzinga.com/markets/equities/25/08/47025718/trump-contemplates-listing-a-unified-fannie-mae-and-freddie-mac-under-ticker-maga-bill-ackman-says-a-really-good-one">a unified listing</a> for Fannie Mae and Freddie Mac, which would trade under the ticker symbol &#8220;MAGA.&#8221;



Economist Peter Schiff slammed the move, saying that it would effectively <a href="https://www.benzinga.com/markets/equities/25/08/47050291/peter-schiff-warns-fannie-freddie-merger-could-create-moral-hazard-bigger-than-great-financial-crisis-era">create a monopoly</a> in the U.S. mortgage market. He said that such a merger could result in a &#8220;moral hazard&#8221; far greater than what existed before the Great Financial Crisis of 2008. 



<figure class="wp-block-embed aligncenter 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">Combining Fannie and Freddie into one entity, creating a monopoly that can leverage an explicit Govt. guarantee to turn risky mortgages into U.S. Treasuries, creates a moral hazard that will dwarf the moral hazard created by the implicit guarantee shared by the pre-GFC duopoly.&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1954915259937894741?ref_src=twsrc%5Etfw">August 11, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Billionaire hedge fund manager Bill Ackman has backed Trump&#8217;s plans, saying that a merger and the resulting cost synergies can help reduce mortgage rates for homebuyers.



&#8220;A merger would also reduce the cost and risks of government oversight as there would be only one institution that would require FHFA oversight,&#8221; he said in a post on X. Ackman&#8217;s Pershing Square Holdings is currently one of the largest shareholders in Fannie Mae and Freddie Mac.



<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">One way to reduce mortgage rates would be to merge Fannie and Freddie. A merger would enable them to achieve huge synergies both in their operations and in the trading price and spreads of their MBS, savings which could be passed along to consumers in the form of reduced mortgage… <a href="https://t.co/wC4ojBGWLQ">https://t.co/wC4ojBGWLQ</a> <a href="https://t.co/D6Ejo0xJ6n">pic.twitter.com/D6Ejo0xJ6n</a>&mdash; Bill Ackman (@BillAckman) <a href="https://twitter.com/BillAckman/status/1954538877563068724?ref_src=twsrc%5Etfw">August 10, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



OTC shares of Fannie Mae and Freddie Mac were up 7.77% and 4.30%, trading at $11.47 and $10.68, respectively, on Monday.



Read More: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/real-estate/25/10/48224282/interest-rates-mortgages-housing-real-estate-market-outlook-reits-stocks">Powell Seals Another Rate Cut—Is This The Spark The Housing Market Needs?</a></li>
</ul>



Photo Courtesy: Tada Images on Shutterstock.com

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Trump May Finally Take Freddie And Fannie Public, Says Bill Pulte: No Limit To 'What They Could Be Worth' With $7 Trillion In Assets

On Monday, Cathie Wood-led Ark Invest made notable portfolio moves, boosting its positions in Qualcomm Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/QCOM">QCOM</a>) and BYD Co Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/quote/BYDDY">BYDDY</a>), while trimming its stakes in Palantir Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/PLTR">PLTR</a>) and Shopify Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SHOP">SHOP</a>).



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



Ark Invest trimmed its position in Palantir by offloading 20,208 shares across its Ark Fintech Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/quote/ARKF">ARKF</a>) and ARK Next Generation Internet ETF (BATS:<a class="ticker" href="https://www.benzinga.com/quote/ARKW">ARKW</a>) funds. The transaction was valued at $3.7 million as Palantir shares ended the day at $181.59.



The move comes as Palantir cements its status as a force in artificial intelligence, garnering additional attention when Oracle Inc. Chief Technology Officer Larry Ellison cited the vital role of proprietary data in AI development—an area where Palantir <a href="https://www.benzinga.com/markets/tech/25/10/48300085/larry-ellison-says-ai-needs-private-data-palantir-says-told-you-so">lays claim to unique strengths</a>.



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



On the same day, Ark Invest sold 22,393 shares of Shopify from its ARKF and ARKW portfolios. The total value of the sale was $3.7 million as Shopify stock ended Monday at $164.71.



The sale follows a recent rally in Shopify's stock, which has surged on the back of new strategic pivots and positive momentum in the broader e-commerce sector after OpenAI unveiled its "Buy it in ChatGPT" feature with instant checkout. Shopify CEO Tobi Lutke said the company had been working with OpenAI "for quite some time" to <a href="https://www.benzinga.com/trading-ideas/movers/25/09/47926513/shopify-etsy-shares-are-surging-monday-whats-going-on">enable in-chat shopping</a>, with over a million Shopify merchants expected to be integrated soon.



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



Cathie Wood's Ark Invest acquired 20,382 shares of Qualcomm through ARK Autonomous Technology &amp; Robotics ETF (BATS:<a class="ticker" href="https://www.benzinga.com/quote/ARKQ">ARKQ</a>), bolstering its position as the company navigates news of regulatory complications over a recent acquisition. The transaction was valued at $3.4 million, based on Qualcomm's closing share price of $167.04 that day. It was reported that the company completed its acquisition of Israel's Autotalks without notifying Chinese regulators. China's State Administration for Market Regulation <a href="https://www.benzinga.com/news/25/10/48166672/qualcomm-admitted-not-notifying-chinese-regulators-about-acquisition-of-israeli-chip-firm-autotalks-report">launched an antitrust probe</a>, saying Qualcomm proceeded with the deal despite being told earlier that approval was required.



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



Ark Invest showed confidence in the electric vehicle space by purchasing 69,000 shares of BYD through ARKQ. The share purchase was valued at $941,850, based on the automaker's closing price of $13.65 that day. The transaction came despite BYD's announcement of a recall <a 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">affecting over 115,000 vehicles</a> due to battery-related safety issues. The recall affected models produced between 2015 and 2022, with issues ranging from circuit board corrosion to faulty battery seals that could pose safety risks.



<h2 class="wp-block-heading">Other Key Trades</h2>



<ul class="wp-block-list">
<li>Guardant Health Inc (GH): Sold 124,233 shares, scaling back exposure in the precision oncology segment.</li>



<li>Quantum-Si Inc (QSI): Sold 86,849 shares as part of biotech portfolio adjustments.</li>



<li>Oklo Inc (OKLO): Sold 53,353 shares, indicating reduced conviction in the emerging energy space.</li>



<li>Intuitive Surgical Inc (ISRG): Acquired 9,174 shares, aligning with increasing investments in robotic healthcare.</li>



<li>Exact Sciences Corp (EXAS): Purchased 90,731 shares, reflecting confidence in diagnostics innovation.</li>
</ul>



Benzinga&#8217;s Edge Stock Rankings indicate Palantir stock has momentum in the 97th percentile. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Here is how this hot AI stock measures up</a> on other metrics.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="443" height="319" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/20215708/Screenshot-2025-10-21-at-7.26.47.png" alt="" class="wp-image-1122797" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/20215708/Screenshot-2025-10-21-at-7.26.47.png 443w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/20215708/Screenshot-2025-10-21-at-7.26.47-300x216.png 300w" sizes="(max-width: 443px) 100vw, 443px" /></a></figure>



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Photo Courtesy: Ira Lichi On Shutterstock.com



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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Cathie Wood Dumps $3.7 Million Of Palantir Stock Despite AI Boom — Here's What She's Buying Instead

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