Small-cap stocks are positioned for significant upside in 2025, driven by recovering earnings, potential corporate tax cuts, and favorable valuations, according to Brian Manby, investment strategy <a href="https://www.benzinga.com/exclusives?page=5">analyst at WisdomTree. </a>



In an exclusive interview with Benzinga, Manby shared his optimism for the Russell 2000 Index – as tracked by the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) – which has already surged 23% year-to-date and <a href="https://www.benzinga.com/news/small-cap/24/11/42171130/russell-2000-dow-sp-500-all-achieve-record-highs-in-wall-streets-historic-day-bitcoin-gold-tumble-whats-driving-markets-monday">achieved record highs on Monday</a>, surpassing its previous peak from November 2021.



Manby said their domestic focus positions them as key beneficiaries of U.S.-centered policies, such as tax cuts and tariffs, while their relatively lower valuations create a compelling investment case for investors unwilling to excessively concentrate their portfolio on large caps.



<h3 class="wp-block-heading">Small Caps, Regional Banks: Positioned For Growth In 2025</h3>



The small-cap rally in 2024 has been particularly strong in the regional banking sector, with the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) soaring 35% this year. 



This outperformance was driven by combination of factors, including Federal Reserve rate cuts, U.S. economic resilience, and the anticipation of deregulation under a Republican-controlled Congress. 



The expert stressed that regional banks could continue to benefit in the coming year as policy tailwinds strengthen their earnings potential. 



"We think there&#8217;s a potential opportunity for a catch-up rally, hopefully bolstered by the deregulatory agenda of the incoming administration. We are pretty optimistic on small cap financials and regional banks in particular." he said.



&#8220;Any sort of pressure that the incoming administration can take off of the small cap financials operations would be really, really welcomed by the sector,&#8221; he added.



According to the house view, small-cap earnings projections for 2025 are optimistic, with potential upside tied to fiscal stimulus and economic expansion. Additionally, small-cap companies, with their U.S.-centric operations, stand to benefit significantly from proposed corporate tax rate reductions, such as a potential 15% tax rate championed by Republicans.



Manby also addressed the potential impact of tariffs under a Republican administration. 



"We think that the prospect of tariffs would be a bit of a greater headwind for large caps. Since small caps are more tied to the domestic economy, we think they would probably benefit," Manby said.



Also Read: <a href="https://www.benzinga.com/news/retail-sales/24/11/42170721/thanksgiving-dinner-gobbles-up-19-more-cash-this-year-many-holiday-hosts-already-regret-their-decision">Thanksgiving Dinner Gobbles Up 19% More Cash This Year, Many Holiday Hosts &#8216;Already Regret Their Decision&#8217;</a>



<h3 class="wp-block-heading">Small Caps Are Still Sharply Undervalued Compared To Large Caps</h3>



Discussing the valuation picture, Manby highlighted that small caps remain discounted relative to large caps, and that creates a strong opportunity for investors. 



&#8220;The Russell 2000 is still very discounted relative to the S&amp;P 500. It basically trades at about 2 standard deviations below its long term multiple versus the S&amp;P 500 and that gives us a lot of confidence in the valuation opportunity as well,&#8221; Manby stated.



Looking ahead to 2025, WisdomTree remains optimistic about the potential for small caps to outperform. "This is a great opportunity for U.S.-based investors seeking returns without paying lofty multiples," Manby said.



Furthermore, he highlighted that &#8220;ongoing potential rate cuts would certainly be beneficial within the broader small cap universe.&#8221;



Read Next:



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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42170135/its-the-most-wonderful-time-of-the-year-for-the-stock-market-history-says">&#8216;It&#8217;s The Most Wonderful Time Of The Year&#8217; For The Stock Market, History Says</a></li>
</ul>



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EXCLUSIVE: Small Caps Hit Records As Expert Says Russell 2000 'Still Very Discounted' Compared To S&P 500

Over half of Americans — 56% — say they plan to host guests for Thanksgiving this year. With costs rising 19% from last year, consumers are<a href="https://www.benzinga.com/news/econ-s/24/11/41944635/inflation-on-track-but-fed-may-go-slowly-on-interest-rate-cuts-experts-say"> feeling the pinch. </a>



What To Know: The cost of hosting Thanksgiving dinner in 2024 is up 19% from last year with an average of $431 spent on food, drink and decor for the event, according to <a href="https://www.lendingtree.com/credit-cards/study/thanksgiving-cost-report/">a survey</a> from LendingTree, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TREE#NASDAQ">TREE</a>). 



"Whenever you start spending more, there's always going to be more risk. That's especially true when you're spending almost 20% more than last year," said Matt Schulz, LendingTree chief credit analyst.&nbsp;



"Most people's budgets are tight, leaving little financial wiggle room from month to month, so a 20% increase can be a big deal," Schulz added.&nbsp;



Read More: <a href="https://www.benzinga.com/news/global/24/11/42101365/indian-billionaire-one-of-the-worlds-richest-men-indicted-for-alleged-250-million-bribery-scheme">Indian Billionaire, One Of The World&#8217;s Richest Men, Indicted For Alleged $250 Million Bribery Scheme</a>



Survey respondents said they expect to spend an average of $265 on food and drinks and $166 on decor for an average of 11 guests at their table for the holiday this year. Most hosts — 60% — expect their guests to pitch in with either money or an item to offset expenses with 25% saying they may reconsider sending an invitation next year to a guest that arrives empty-handed. 



More than a third — 36% — of potential hosts say the amount they will spend on Thanksgiving will be a financial strain with 34% of potential hosts planning to use credit cards for Thanksgiving costs. Strikingly, 14% of hosts already regret their decision to do so. 



Sales and Promos: According to the survey, 30% of potential hosts will shop around, while 22% will use coupons and 33% will do both to help to offset costs. Retailers are trying to ease the financial strain by offering special Thanksgiving promotions and sales events.&nbsp;



Walmart, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) is promoting its Inflation-Free Thanksgiving Meal for 2024, which the company says allows customers to prepare the holiday meal for under $7 per person. The total cost for the meal to serve eight people is just over $53 and includes turkey, stuffing, gravy, cranberry sauce and dessert. 



Albertsons Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>) is offering a Thanksgiving promotion for a free 16- to 20-pound turkey when customers spend $150 or more on groceries in a single transaction. Target Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) has brought back its Thanksgiving meal deal, priced at $20, for four people. In addition to the meal, Target is offering frozen turkeys at 79 cents per pound, a 20% reduction from last year. 



"It's such old and cliched advice, but it's true," Schulz says. "Taking the time to comparison shop can save you significant money at the holidays or any other time of year."



Read Next:&nbsp;



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<li><a href="https://www.benzinga.com/trading-ideas/movers/24/11/41949068/bitcoin-could-reach-1-million-by-2037-economist-says-buy-of-a-lifetime-opportunity">Bitcoin Could Reach $1 Million By 2037, Economist Says: &#8216;Buy Of A Lifetime&#8217; Opportunity</a></li>
</ul>



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Thanksgiving Dinner Gobbles Up 19% More Cash This Year, Many Holiday Hosts 'Already Regret Their Decision'

Analysts expect CrowdStrike Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) to report third-quarter revenue of $982.36 million <a href="https://www.benzinga.com/earnings">after market close Tuesday.</a> That&#8217;s up from $786.01 million in last year's third quarter, according to data <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent112524&amp;t=be2bearmibe3na1">from Benzinga Pro.</a>



Observers will be closely watching the stock for signs of a recovery following a July IT outage — <a href="https://www.benzinga.com/news/24/07/39870313/microsoft-crowdstrike-issue-caused-largest-it-outage-in-history-showing-how-much-we-depend-on-a-hand">one of the largest in history</a>. 



Earnings Estimates: CrowdStrike has beaten analyst revenue estimates in more than 10 straight quarters.



Analysts expect the company to report third-quarter earnings per share of 81 cents, versus 82 cents in last year's third quarter. The company has beaten analyst earnings per share estimates in more than 10 straight quarters.



Guidance<a href="https://www.benzinga.com/news/earnings/24/08/40613150/crowdstrike-q2-earnings-revenue-beat-eps-beat-arr-up-32-even-more-customer-obsessed-company-followi"> from the company</a> calls for third-quarter revenue to be in a range of $979.2 million to $984.7 million. The company also is guiding for third-quarter earnings per share to be in a range of 80 cents to 81 cents per share.



Read Also: <a href="https://www.benzinga.com/markets/equities/24/11/41800177/crowdstrike-expands-cybersecurity-reach-in-europe-and-launches-ai-red-team-services">CrowdStrike Expands Cybersecurity Reach In Europe And Launches AI Red Team Services</a>



What Analysts Are Saying: Investor attention will be on CrowdStrike's recovery from its July 19 outage, Rosenblatt analyst Catherine Trebnick said in a new investor note.



The analyst reiterated a Buy rating and raised the price target from $325 to $385.



"Our channel checks suggest that customers remain confident in the company and are not stepping away," Trebnick said.



Trebnick said CrowdStrike could show "modest upside" from quarterly estimates and raise guidance.



"Some renewals may be delayed, but overall customer retention appears strong."



Guidance and the litigation overhang are key items being watched by WestPark Capital&#8217;s Paul Rodriguez. The analyst has a Hold rating and no price target. Future revenue can be impacted by customer discounts being used to help offset customer complaints about the July outage.



"Our checks suggest CRWD has not suffered much customer churn but CrowdStrike has had to make concessions to its clients base," Rodriguez said.



The analyst said there are concerns about heavy discounting being done in the field.



A litigation overhang mainly revolves around Delta Air Lines, is also a concern for the analyst after Delta decided to move forward with legal action.



"If other companies move further with litigation against CrowdStrike post the Delta news remains to be seen but this scenario does pose a risk to CrowdStrike shares."



Key Items to Watch: CrowdStrike said second-quarter annual recurring revenue was up 32% year-over-year. This remains a key item for investors to watch on Tuesday.



The company said the July outage inspired a renewed focus on becoming a "more customer-obsessed CrowdStrike." 



Cybersecurity remains a key theme going forward with companies increasing focus and spending on this category. Aside from the July outage recovery, new products and commentary on customer spending will be big items to watch for investors.



Price Action: CrowdStrike stock is down 2% to $363.80 on Monday versus a 52-week trading range of $200.81 to $398.30. CrowdStrike stock is up 47% year-to-date.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/news/24/11/41803738/invesco-launches-new-etfs-targeting-ai-cybersecurity-and-defense-heres-how-some-of-their-peers-have">Invesco Launches New ETFs Targeting AI, Cybersecurity, And Defense. Here&#8217;s How Some Of Their Peers Have Performed In The Past Year</a></li>
</ul>



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CRWD

CrowdStrike Q3 Earnings Preview: Analysts Anticipate Recovery, 'Customers Remain Confident'

Bitcoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) recent rally could face a sharp downturn, with a prominent trader warning of a potential correction if the cryptocurrency fails to break the <a href="https://www.benzinga.com/news/small-cap/24/11/42171130/russell-2000-dow-sp-500-all-achieve-record-highs-in-wall-streets-historic-day-bitcoin-gold-tumble-whats-driving-markets-monday">$100,000 resistance level.</a>



The <a href="https://x.com/ali_charts/status/1860409141677662707">forecast</a>, which points to a drop as low as $85,600 in a worst-case scenario, comes as Bitcoin shows signs of a cooling rally after nearing the critical $100,000 milestone. 



On Nov. 23, chart analyst Ali Martinez <a href="https://x.com/ali_charts/status/1860409141677662707">flagged</a> a bearish signal on Bitcoin's 12-hour chart using the TD Sequential indicator.



Ali predicted that Bitcoin could correct to $91,583, with a deeper drop to $85,610 if selling pressure intensifies.



The apex crypto is trading around $94,660 at the time of writing, down 1.6% over the past 24 hours.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42171439/solana-meme-coin-platform-pumpfun-faces-backlash-over-scandalous-livestreams-but-polymarket-traders-arent-convinced-theyll-go-dark">Solana Meme Coin Platform Pump.Fun Faces Backlash Over Scandalous Livestreams, But Polymarket Traders Aren&#8217;t Convinced They&#8217;ll Go Dark</a>



Altcoins such as Ripple (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) are down over 5%, while Solana's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), Ether (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), Cardano's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>) and Binance's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bnb/usd">BNB</a>) fell between 2% and 5%.



This market-wide retreat caused the overall crypto market capitalization to decline by 2.4%.



The volatility also hit crypto-tracked futures, with over $400 million liquidated in both long and short positions.



According to Coinglass <a href="https://www.coinglass.com/LiquidationData">data</a>, $283 million in bullish bets and $156 million in bearish bets were wiped out over the past 24 hours. 



Interestingly, small altcoins and midcap futures saw higher liquidation volumes than Bitcoin and Ether, suggesting increased risk-taking among traders.



The market correction comes against the backdrop of deteriorating sentiment in the cryptocurrency industry as Bitcoin failed to break <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42163156/why-bitcoins-rally-is-stalling-below-100000">the $100,000 threshold</a>.



Read Next: 



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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42170669/wisdomtree-files-for-xrp-etf-trust-report">WisdomTree Files For XRP ETF Trust: Report</a></li>
</ul>



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Cryptocurrency

$ADA

$BNB

$BTC

$DOGE

$ETH

$SOL

$XRP

Bitcoin Slides Below $95,000 — Analyst Predicts Potential Correction To $85,000

As the world hurtles toward an electrified future, the copper market <a href="https://www.benzinga.com/topic/copper">stands at a crossroads</a>. 



Insights from JPMorgan analysts Patrick Jones, Greg Shearer and Bill Peterson paint a complex picture: short-term hurdles for copper prices, but a glittering long-term outlook driven by electric vehicles and evolving supply dynamics.



This could seem as good news for those invested in United States Copper Index Fund ETV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPER#NYSE">CPER</a>), Global X Copper Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COPX#NYSE">COPX</a>), iShares Copper and Metals Mining ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICOP#NASDAQ">ICOP</a>) for the long-term.



<h2 class="wp-block-heading">EV Boom: Supercharging Copper Demand</h2>



The electric vehicle revolution is set to electrify copper demand. JPMorgan predicts copper usage in EVs will more than double from 1.4 million metric tons in 2023 to 3 million by 2030. While some worry that technological advances like thinner copper anode foils could dampen demand, the analysts argue otherwise. 



Larger EV sizes and a pivot toward lithium-iron-phosphate (LFP) batteries — which are more copper-intensive — are expected to drive long-term growth.



Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41337566/trump-2-0-trade-policies-could-hit-copper-stocks-harder-warns-jpmorgan-analyst">Trump 2.0 Trade Policies Could Hit Copper Stocks Harder, Warns JPMorgan Analyst</a>



<h2 class="wp-block-heading">New Technologies: Leaching A Lifeline?</h2>



Leaching technologies are generating buzz, but can they revolutionize copper supply? Not yet, say the analysts. While projects from major miners like Freeport-McMoRan Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) and BHP Group Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>) are on the horizon, these advancements are unlikely to offset supply declines before 2030.



At best, leaching could add 550,000 metric tons annually, just 2% of global supply.



<h2 class="wp-block-heading">Scrap &amp; Recycling: The Unsung Hero?</h2>



Recycling is a crucial cog in the copper machine, accounting for about 17% of refined supply in 2024, up from 14% in 2020. JPMorgan forecasts scrap supply will grow by 5-6% annually, faster than historical rates, yet insufficient to bridge the long-term deficit. Recycling alone won't solve copper's supply crunch.



<h2 class="wp-block-heading">Near-Term Risks, Long-Term Rewards</h2>



JPMorgan warns of near-term risks from macroeconomic pressures, particularly a potential devaluation of the Chinese yuan to 7.8 to 8.0 per U.S. dollar. This could lead to a 12-15% dip in copper prices, presenting headwinds for equities. However, the analysts remain bullish on the long-term trajectory, underpinned by a looming supply-demand gap.



Their picks? 



Lundin Mining Corp (OTCPK: LUNMF) leads in EMEA, while Teck Resources Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TECK#NYSE">TECK</a>) tops the Americas. Asia-Pacific favorites include Zijin Mining and Merdeka Copper, with caution advised on Jiangxi Copper and Sandfire Resources.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41877899/trump-re-election-jolts-metals-market-as-gold-sees-a-stumble-not-a-sea-change">Trump Re-Election Jolts Metals Market As Gold Sees A &#8216;Stumble, Not A Sea Change&#8217;</a></li>
</ul>



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Specialty ETFs

Commodities

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CPER

ICOP

LUNMF

TECK

Copper's High-Wire Act: Can EVs, New Tech Power The Metal's Next Big Surge?

A mix of easing global geopolitical tensions, post-election bullish momentum and favorable seasonal trends propelled major U.S. stock indices to new record heights during Monday morning trading, marking what could be another <a href="https://www.google.com/url?sa=t&amp;source=web&amp;rct=j&amp;opi=89978449&amp;url=https://www.benzinga.com/markets&amp;ved=2ahUKEwjAlZHc__eJAxU2BfsDHQLbGvkQFnoECCsQAQ&amp;usg=AOvVaw1FmExYgZnKyK1W0mkY7TrX">historic session on Wall Street.</a>



The S&amp;P 500 and Dow Jones Industrial Average surged to all-time records, hitting intraday highs of 6,020 and 44,815 points, respectively, before paring back some gains.



Yet, the small-cap Russell 2000 index stole the spotlight, up 1.4% and reaching an all-time high for the first time since November 2021.



Investors cheered President-elect Donald Trump's nomination of hedge fund manager Scott Bessent for Treasury secretary, betting his Wall Street experience could steer fiscal policies<a href="https://www.google.com/url?sa=t&amp;source=web&amp;rct=j&amp;opi=89978449&amp;url=https://www.benzinga.com/news/24/11/42158330/trumps-treasury-secretary-pick-scott-bessent-says-a-global-economic-reordering-is-on-the-way-argues-president-elects-policies-will-lead-to-an-economic-lollapalooza&amp;ved=2ahUKEwjl2srK__eJAxV3KvsDHal-N2sQFnoECCAQAQ&amp;usg=AOvVaw2RHZDfMG584ba6QTHSP-jq"> toward a pro-market direction</a>.



Meanwhile, the barometer of geopolitical fears eased as Israel and Lebanon agreed to a framework for <a href="https://www.benzinga.com/24/11/42166676/israel-reaches-groundbreaking-ceasefire-deal-with-lebanon-gold-oil-tumble-sp-500-dow-jointly-hit-record-highs">ending the Israel-Hezbollah conflict</a>. While the deal still requires approval from Israel&#8217;s Security Cabinet, traders embraced the news, which sent ripples through commodity markets.



West Texas Intermediate (WTI) crude tumbled 2.7%, falling below $70 per barrel, erasing Friday&#8217;s gains. Gold plummeted over 3%, marking one of its worst sessions in 2024, as safe-haven demand receded.



Bucking the trend, natural gas prices soared 8%, driven by reports that Trump's team is preparing to end Biden's freeze on liquefied natural gas (LNG) exports.



U.S. Treasury yields plunged as optimism around Bessent's nomination suggested a potential curb on unchecked deficit spending. The yield on the 10-year Treasury note fell more than 10 basis points to 4.29%, dragging the U.S. dollar down 0.6%.



While traditional equities rallied, the risk-on sentiment did not extend to cryptocurrencies. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) dropped 3% to around $95,000, further distancing itself from the highly anticipated $100,000 milestone.



<h1 class="wp-block-heading">Monday&#8217;s Performance In U.S. Major Indices, ETFs</h1>



<figure class="wp-block-table is-style-stripes"><table><tbody><tr><td>Major Indices</td><td>Price</td><td>1-day % chg.</td></tr><tr><td>Russell 2000</td><td>2,439.45</td><td>1.4%</td></tr><tr><td>Dow Jones</td><td>44,565.41</td><td>0.6%</td></tr><tr><td>S&amp;P 500</td><td>5,974.05</td><td>0.1%</td></tr><tr><td>Nasdaq 100</td><td>20,745.11</td><td>-0.1%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated at 12:35 p.m. ET</figcaption></figure>



According to&nbsp;<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent112524&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:



<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) edged 0.1% higher to $596.04, eyeing the sixth straight session of gains.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 0.6% to $445.93.</li>



<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) inched 0.065% up to $506.12.</li>



<li>The&nbsp;iShares Russell 2000 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rallied 1.5% to $242.71.</li>



<li>The&nbsp;Consumer Discretionary Sector Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) outperformed, rising 1.2%. The&nbsp;Energy Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down 1.6%.</li>
</ul>



<h1 class="wp-block-heading">Monday&#8217;s Stock Movers</h1>



<ul>
<li>Bath &amp; Body Works Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBWI#NYSE">BBWI</a>) rallied 14.5% in reaction to better-than-expected quarterly earnings. </li>



<li>Macy&#8217;s Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) fell over 3% after the company announced that a former employee allegedly concealed between $132 million and $154 million in delivery expenses from the fiscal fourth quarter of 2021 through the most recent <a href="https://www.benzinga.com/24/11/42166888/stock-of-the-day-accounting-fraud-at-macys">quarter ending Nov. 2</a>. As a result, it has postponed its earnings release and conference call to as late as Dec. 11 to allow time for an independent audit.</li>



<li>Rivian Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) soared 13%, after Volkswagen announced to boost its initial investment by an additional $800 million to $5.8 billion.</li>
</ul>



Read Now:



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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42170135/its-the-most-wonderful-time-of-the-year-for-the-stock-market-history-says">&#8216;It&#8217;s The Most Wonderful Time Of The Year&#8217; For The Stock Market, History Says</a></li>
</ul>



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Russell 2000, Dow, S&P 500 All Achieve Record Highs In Wall Street's Historic Day; Bitcoin, Gold Tumble: What's Driving Markets Monday?

When Andy Williams released the song "It's the Most Wonderful Time of the Year" on his first 1963 Christmas album, the S&amp;P 500 was singing a bullish tune of its own. The index had just hit a record high of 74 points, shaking off the scars of<a href="https://www.benzinga.com/markets"> the 1962 bear market. </a>



Fast-forward 61 years, and history looks ready to rhyme: the U.S. stock market is again trading at all-time highs as the holiday season ushers in what has historically been a joyful period for investors.



If history is any guide, the next five weeks could be a strong, if not the best, time of the year for U.S. equities.



<h1 class="wp-block-heading">December: A Tradition Of Holiday Cheer On Wall Street</h1>



Since 1928, the S&amp;P 500 index — as tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) — has averaged a 1.25% gain during the month, making it the second-best performer of the year, behind only July.



But here's the kicker: when you include the final week of November, the stock market truly enters its most wonderful time of the year for investors. 



&#8220;I think that U.S. equities will rally starting next week into the end of the year, with the S&amp;P 500 hitting 6,200,&#8221; Goldman Sachs analyst Scott Rubner said last Friday. 



&#8220;We are entering the best seasonal period of the year for U.S. equities,&#8221; he added. 



Both the S&amp;P 500 and the Dow Jones Industrial Average surged to record highs on Monday, driven by investor optimism following reports of a cease-fire agreement between Israel and Lebanon that eased geopolitical concerns<a href="https://www.benzinga.com/24/11/42166676/israel-reaches-groundbreaking-ceasefire-deal-with-lebanon-gold-oil-tumble-sp-500-dow-jointly-hit-record-highs"> in the Middle East.</a>



<h3 class="wp-block-heading">The Thanksgiving Week&#8217;s Effect</h3>



Thanksgiving week itself has a solid track record of lifting the S&amp;P 500. 



According to Stephen Suttmeier, a Bank of America analyst and market technician, the index has risen 60% of the time during Thanksgiving week since 1928, delivering an average return of 0.28%, or 0.46% median.



In a note shared to clients on Monday, Suttmeier highlighted that in the period from Thanksgiving through the end of the year, the S&amp;P 500 has climbed 71% of the time, with an average return of 1.46%, or 1.70% median.



&#8220;Thanksgiving into year-end SPX seasonality is strong for all years and in Presidential election years,&#8221; Suttmeier wrote.



<figure class="wp-block-table is-style-stripes"><table><thead><tr><th>Indicator</th><th>Thanksgiving week</th><th>Thanksgiving through Dec. 31</th><th>Thanksgiving week (Presidential election years)</th><th>Thanksgiving through Dec. 31 (Presidential election years)</th></tr></thead><tbody><tr><td>Average</td><td>0.28%</td><td>1.46%</td><td>0.88%</td><td>1.38%</td></tr><tr><td>Median</td><td>0.46%</td><td>1.70%</td><td>1.08%</td><td>1.6%</td></tr><tr><td>% Time positive</td><td>60.42%</td><td>70.83%</td><td>75%</td><td>75%</td></tr></tbody></table><figcaption class="wp-element-caption">Source: Bank of America</figcaption></figure>



<h1 class="wp-block-heading">Election Years Also Show Solid Year-End S&amp;P 500 Returns</h1>



Since 1928, the S&amp;P 500 has posted gains in 75% of election-year Thanksgiving weeks, with an average return of 0.88% or 1.08% median. 



The post-Thanksgiving to year-end period has also delivered the goods, with the index rising 75% of the time, delivering an average return of 1.38%, or 1.6% median.



As investors dig into their turkey this Thanksgiving, they might also consider digging into some U.S. equities. 



After all, history suggests that the combination of optimism, holiday spending and year-end portfolio adjustments could be the season of giving — at least on Wall Street.



Read now: 



<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42165391/vanguards-sp-500-etf-hits-100-billion-inflows-in-2024-is-spys-crown-at-risk">Vanguard&#8217;s S&amp;P 500 ETF Hits $100 Billion Inflows In 2024: Is SPY&#8217;s Crown At Risk?</a></li>
</ul>



Photo: Unsplash

Global

'It's The Most Wonderful Time Of The Year' For The Stock Market, History Says

Cassava Sciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAVA#NASDAQ">SAVA</a>) stock is falling Monday after the company shared an update on its Phase 3 trial for a treatment for Alzheimer's disease that has been widely followed<a href="https://www.benzinga.com/news/24/09/41007173/cassava-sciences-stock-rises-on-interim-safety-review-of-simufilam-phase-3-trials"> by the market</a>.



Martin Shkreli, a well-know figure in the pharmaceutical space, predicted the stock&#8217;s crash Sunday night.



What Happened: Cassava Sciences reported that its Phase 3 topline results for the ReThink-ALZ study on Simufilam did not meet primary endpoints, <a href="https://www.benzinga.com/24/11/42164927/cassava-sciences-controversial-alzheimers-drug-fails-to-hit-primary-goal-in-pivotal-study-halts-late-stage-studies">sending shares significantly lower </a>to start the trading week.



The company said it intends to present the data at an upcoming meeting, and Simufilam showed a favorable safety profile.



"Simufilam did not show a significant reduction in cognitive or functional decline versus placebo in patients with mild-to-moderate Alzheimer's disease," the company said.



Cassava Sciences CEO Rick Barry called the results "disappointing for patients and their families."



Benzinga reached out to Cassava for comment.



Shkreli, a former hedge fund manager, predicted Monday's sharp shared decline.



"If you have $ on robinhood or interactive, short SAVA now," Shkreli <a href="https://x.com/MartinShkreli/status/1860886801617125798">tweeted </a>at 10:22 p.m. ET Sunday night.



The tweet signaled a belief that Cassava Sciences stock was set to fall. Robinhood and Interactive Brokers are among the brokers who offer 24-hour trading on select stocks, which is why they were named by Shkreli.



Shkreli was asked by several people on X if his tweet was financial advice, to which he replied yes. Shkreli also told people that waiting until Monday's opening bell at 9:30 a.m. ET would be too late to short the stock.



Cassava Sciences shares were halted at 7:25 a.m. ET with the company's update coming at 7:30 a.m. ET and shares resuming for trading at 7:55 a.m. ET.



Shares quickly fell Monday morning by over 80% after the company's update.



The post by Shkreli shouldn't come as a huge surprise since a Nov. 21 thread about a 38-page paper on Cassava by the former hedge fund manager is his pinned <a href="https://x.com/MartinShkreli/status/1859681514415607930">tweet</a>.



"I don't &#x2A;think&#x2A; it doesn't work. It is impossible for it to work," the thread says.



Shkreli said Alzheimer's Disease is a very tough market to target to begin with as 98% of the last Phase 3 trials for the disease have failed. Cassava's Phase 3 treating symptomatic patients could doom it, Shkreli predicted in the thread.



"Cassava bulls are looking for a ‘lotto ticket' return, but their chances are worse than the lotto."



Shkreli was extremely confident in his prediction, with a post <a href="https://x.com/MartinShkreli/status/1860878868028269051">listing </a>the things that he would do if the Phase 3 trial met its primary endpoint.



<ol>
<li>Delete my X account</li>



<li>Shave my head on YouTube and delete that account as well</li>



<li>Begin estrogen therapy and legally change my name to Martina</li>



<li>Move to Haiti, bringing my best friend/cat Nibbles</li>



<li>Retire from business completely</li>
</ol>



Shkreli took aim at WallSteetBets, a subreddit on Reddit Monday with a <a href="https://x.com/MartinShkreli/status/1861031460586831913">tweet </a>saying that "garbage like $SAVA" comes from the subreddit.



Read Also: <a href="https://www.benzinga.com/insights/options/24/11/41817544/looking-at-cassava-sciencess-recent-unusual-options-activity">Looking At Cassava Sciences&#8217;s Recent Unusual Options Activity</a>



Why It's Important: Shkreli said Cassava not meeting the primary endpoint would make the stock "an easy short" and shares could trade near their cash value levels of $2 to $3 per share.



The prediction from Shkreli comes after the former hedge fund manager's wild past in the pharmaceutical sector. Known as "pharma bro" to many, Shkreli previously was CEO of Retrophin and Turing Pharmaceuticals. Shkreli <a href="https://www.benzinga.com/government/21/11/23904774/wall-street-crime-and-punishment-martin-shkreli-the-self-destructive-pharma-bro">famously raised the price</a> of antiparasitic drug Daraprim from $13.50 to $750 for insurance providers after Turing acquired the drug.



Shkreli was convicted of securities fraud in 2017 and currently has<a href="https://www.benzinga.com/news/24/10/41222384/pharma-bro-martin-shkreli-loses-appeal-supreme-court-imposes-65m-fine-issues-lifetime-ban-from-pharm"> a lifetime ban</a> from the pharmaceutical sector.



Before his recent Cassava Sciences focus, the former hedge funder has been making recent headlines in <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40185861/djt-trumpcoin-allegedly-launched-by-martin-shkreli-with-barron-trumps-help-tanks-98" target="_blank" rel="noopener">the cryptocurrency sector</a>.



Benzinga reached out to Shkreli for comment and did not hear back by the time of publication.



Citron Research, known for their short reports, praised Shkreli's prediction on Cassava Sciences in a <a href="https://x.com/CitronResearch/status/1861043591369429143">tweet</a>.



"$SAVA illustrates the difficulty in shorting stocks. Has been a clear fraud for years but almost became an impossible short because of the ‘new market forces'. Nice to see some good homework by @martinshkreli added with a dose of reality to achieve real price discovery," Citron Research tweeted.



SAVA Price Action: Cassava Sciences stock is down 84.6% to $4.06 on Monday versus a previous 52-week trading range of $8.79 to $42.20, hitting new 52-week lows.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/general/biotech/24/09/41065699/sec-charges-cassava-sciences-over-manipulated-alzheimers-trial-data-company-and-former-execs-agre">SEC Charges Cassava Sciences Over Manipulated Alzheimer&#8217;s Trial Data, Company And Former Execs Agree To Pay Penalty</a></li>
</ul>



Photo: Wikimedia

Health Care

Movers

SAVA

'Pharma Bro' Martin Shkreli Tells Investors To 'Short SAVA,' Stock Falls Over 80% After Phase 3 Update

Macy's <a href="https://www.benzinga.com/24/11/42162655/macy-falls-as-preliminary-q3-highlights-mixed-performance-and-154-million-expense-concealment">delayed its Q3 earnings release</a>, revealing an internal investigation into an employee who allegedly hid hundreds of millions of dollars in expenses.



Shares of Macy&#8217;s, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) are trading lower on Monday, and there is a good chance that the downtrend will continue.



This is why it is our Stock of the Day.



A person who was responsible for small package delivery expense accounting made intentional &#8220;erroneous accounting accrual entries.&#8221; As much as $154 million may have been hidden. The activity occurred between Q4 2021 and the current third quarter.



Macy's said there was &#8220;no indication that the accounting error had any impact on the cash management activities or vendor payments.&#8221; It also said the employee is no longer with the company.



Read Also: <a href="https://www.benzinga.com/news/24/11/42093639/why-macys-stock-is-falling">Why Macy&#8217;s Stock Is Falling</a>



The stock was looking technically vulnerable prior to the news coming out. As you can see on the chart, it had run into resistance again around the $16.40 level. Stocks tend to sell off after they hit resistance. This is what happened with Macy's in mid-October and early November.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="557" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/25101907/m-chart-1024x557.webp" alt="" class="wp-image-663574" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/25101907/m-chart-1024x557.webp 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/25101907/m-chart-300x163.webp 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/25101907/m-chart-768x418.webp 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/25101907/m-chart.webp 1501w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



When a stock trends higher, there aren't enough sellers to fill all the buy orders. As a result, buyers are forced to bid successively higher prices to attract sellers into the market, forcing the stock into an uptrend.



When resistance is reached, the uptrend ends. There are more than enough sellers to fill all of the buy orders. Buyers can acquire all of the shares they wish to without pushing the price any higher.



Sometimes, some investors and traders who create resistance with their sell orders become concerned. They know the buyers will go to whoever will sell at the lowest price.



They fear that other sellers may lower their asking prices, prompting them to do the same. This behavior often triggers a chain reaction, with more sellers reducing their prices in response.



It results in a snowball effect that can push the price lower.



This is what happened the last two times Macy's reached the $16.40 level, and it may be about to happen again.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/news/24/11/42154628/larry-page-google-co-founder-said-hed-leave-his-fortune-to-elon-musk-over-charity-because-of-his-plans-to-go-to-mars-to-back-up-humanity">Larry Page, Google Co-Founder, Said He&#8217;d Leave His Fortune To Elon Musk Over Charity Because Of His Plans &#8216;To Go To Mars To Back Up Humanity&#8217;</a></li>
</ul>



Photo: Shutterstock

Technicals

Stock Of The Day: Macy's Hits Resistance Following Accounting Scandal

Israel and Lebanon have agreed on the framework for a cease-fire deal to end over a year of violent conflict between Israel and Hezbollah, a senior U.S. official told Axios on Monday.



While the agreement awaits formal approval from Israel's Security Cabinet on Tuesday, global financial markets are already reacting, with gold and oil prices tumbling as geopolitical risks recede and risky assets soar<a href="https://www.benzinga.com/topic/israel"> amid improving investor optimism. </a>



Both the Dow Jones Index and the S&amp;P 500 indices hit fresh record highs minutes following Monday&#8217;s market open in New York. 



<h3 class="wp-block-heading">Israel-Lebanon Deal: What It Includes</h3>



The cease-fire, if approved, would mark the end of a bloody chapter that has claimed the lives of over 3,500 Lebanese and 140 Israelis while displacing hundreds of thousands of people on both sides of the border. 



Under the proposed agreement, Israel would initiate a 60-day withdrawal of its military from southern Lebanon, the <a href="https://www.axios.com/2024/11/25/israel-lebanon-near-hezbollah-ceasefire-deal">Axios report said</a>. 



Simultaneously, the Lebanese army would deploy along border areas, and Hezbollah would relocate its heavy weaponry north of the Litani River.



To ensure compliance, a U.S.-led oversight committee would monitor the agreement, while the U.S. has pledged to support Israeli military action against imminent threats if Lebanese forces fail to act.



A senior U.S. official told Axios: "We think we have a deal. We are on the goal line, but we haven't passed it yet."



<h3 class="wp-block-heading">Oil, Gold Take A Blow</h3>



The news sent shockwaves through the commodities market. 



With the threat of broader regional conflict subsiding, West Texas Intermediate (WTI) crude oil – as tracked by the United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>) – fell 1.5% on Monday to $70 per barrel, almost fully paring back Friday&#8217;s gains. 



Gold, tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) plunged over 3% to $2,640 an ounce as investors scaled back safe-haven bets. Silver followed suit, dropping 3% to $30.40 an ounce. 



The U.S. dollar also softened, losing 0.7% against a basket of major currencies, reflecting the shift in risk sentiment.



<h3 class="wp-block-heading">Stock Market Soars To New Heights</h3>



The cease-fire optimism spilled into equities. The S&amp;P 500 index – tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) –reached an all-time high of 6,020 points, gaining 0.8% on the day, while the Dow Jones Industrial Average – mimicked by the SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) – climbed 1% to a record-breaking 44,738.



Notably, all major S&amp;P sectors except energy posted gains, with the broader index aiming for its sixth straight session of gains.



Israeli stocks – tracked by the VanEck Israel ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ISRA#NYSE">ISRA</a>) – soared 1.9%, also eyeing a six-day winning streak.



S&amp;P 500&#8217;s top gainers during morning trading in New York included: 



<ul>
<li>Bath &amp; Body Works (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBWI#NYSE">BBWI</a>)</li>



<li>Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>)</li>



<li>Wolfspeed, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>)</li>



<li>Clarivate Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLVT#NYSE">CLVT</a>)</li>



<li>Astera Labs, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALAB#NASDAQ">ALAB</a>)</li>
</ul>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42165391/vanguards-sp-500-etf-hits-100-billion-inflows-in-2024-is-spys-crown-at-risk">Vanguard&#8217;s S&amp;P 500 ETF Hits $100 Billion Inflows In 2024: Is SPY&#8217;s Crown At Risk?</a></li>
</ul>



Photo via Shutterstock.

Emerging Markets

Emerging Market ETFs

Politics

ALAB

CLVT

ISRA

SMCI

WOLF

Israel, Lebanon Reach Reported Cease-Fire Deal: Gold, Oil Tumble; S&P 500, Dow Jointly Hit Record Highs

Cassava Sciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAVA#NASDAQ">SAVA</a>) stock plunged Monday after the company released topline data from the Phase 3 ReThink-ALZ study of simufilam in mild-to-moderate <a href="https://www.benzinga.com/pressreleases/24/11/g42160859/cassava-sciences-topline-phase-3-data-did-not-meet-co-primary-endpoints" target="_blank" rel="noreferrer noopener">Alzheimer&#8217;s disease</a>.



The trial did not meet the pre-specified co-primary, secondary, and exploratory biomarker endpoints.



In July, CEO Rick Barry wrote a letter to shareholders and employees, saying that the company is in the final stages of testing simufilam and has significant <a href="https://www.benzinga.com/general/biotech/24/09/41065699/sec-charges-cassava-sciences-over-manipulated-alzheimers-trial-data-company-and-former-execs-agre" target="_blank" rel="noreferrer noopener">financial and emotional stakes</a>.



The co-primary endpoints were the change in cognition and function from baseline to the end of the double-blind treatment period at week 52, assessed by the ADAS-COG12 and ADCS-ADL scales, comparing simufilam to placebo.



Simufilam continued to demonstrate an overall favorable safety profile.



&#8220;The results are disappointing&#8230;We took careful measures to enroll patients with mild-to-moderate AD. Despite that, the loss of cognition in the placebo group was less pronounced than was previously reported in other placebo-controlled studies in AD&#8230;&#8221; said&nbsp;Rick Barry, President and Chief Executive Officer.



The company said the failed trial results have impacted its second Phase 3 trial,&nbsp;ReFocus-ALZ, and decided to discontinue ReFocus-ALZ. The company will also be discontinuing the Open Label Extension study.



The complete 52-week dataset will be available from the study along with a large portion of 76-week data.



Cassava will continue to review the data and evaluate the next steps. We plan to share the detailed results at a future medical meeting.



Cassava has been in the headlines for fabricating data from <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41231890/whats-going-on-with-alzheimers-focused-cassava-sciences-on-tuesday" rel="noreferrer noopener">simufilam drug trials</a>.



In September, Cassava Sciences&nbsp;agreed to pay over $40 million to resolve SEC charges over misleading statements related to a Phase 2 trial of the company&#8217;s controversial&nbsp;Alzheimer&#8217;s drug, simufilam.



The SEC also charged Hoau-Yan Wang, a consultant and co-developer of the drug, with manipulating trial results.



The SEC&#8217;s investigation found that in&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/21/08/22653801/cassava-sciences-shares-sink-with-alzheimers-drug-mired-in-controversy" rel="noreferrer noopener">September 2020</a>, Cassava disclosed manipulated data from the trial, which falsely suggested dramatic improvements in Alzheimer&#8217;s biomarkers like total tau and phosphorylated tau.



Price Action: SAVA stock is down 84.2% at $4.19 during the premarket session at last check Monday.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/24/11/42163927/fda-approves-bridgebio-pharmas-drug-for-rare-heart-disease-poised-to-challenge-pfizer-in-lucrative-yet-competitive-market" target="_blank" rel="noreferrer noopener">FDA Approves BridgeBio Pharma&#8217;s Drug For Rare Heart Disease, Poised To Challenge Pfizer In Lucrative Yet Competitive Market</a></li>
</ul>



Photo via Shutterstock.

Biotech

Cassava Sciences Alzheimer's Drug Fails To Hit Primary Goal In Pivotal Study, Pharma Halts Late-Stage Studies

The Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) has shattered records, crossing $100 billion in annual inflows this year, a historic high for any ETF over the same period. 



Data from ETF.com shows that the fund witnessed $101.07 billion in fresh money from investors, more than the combined inflows of its two closest competitors: iShares Core S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVV#NYSE">IVV</a>) with $59.2 billion and SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) with just $22.9 billion.&nbsp;



In the multi-trillion-dollar exchange-traded fund industry, this trend is sparking debate over whether SPY, the world's largest ETF, is now on the brink of losing its long-standing crown.



<h3 class="wp-block-heading">$VOO Poised To Become The World&#8217;s Largest ETF Next Year </h3>



Despite SPY still holding the title of the world's largest ETF, with $620 billion in assets under management (AUM), the gap between it and VOO — currently at $579 billion — has narrowed to $41 billion.



&#8220;That means that there is a very real possibility that VOO overtakes SPY as the world's largest ETF as soon as next year,&#8221; commented Sumit Roy, senior analyst at ETF.com. 



&#8220;But even if that happens, SPY's slide down the ETF leaderboard might not stop there. IVV is also nipping at its heels, with $565 billion in AUM,&#8221; he added. 



<h3 class="wp-block-heading">World&#8217;s 10 Largest ETFs by AUM</h3>



<figure class="wp-block-table is-style-stripes"><table><thead><tr><th>ETF Name</th><th>AUM ($ bn)</th><th>Expense ratio</th></tr></thead><tbody><tr><td>SPDR S&amp;P 500 ETF TRUST</td><td>620.26</td><td>0.09%</td></tr><tr><td>Vanguard S&amp;P 500 ETF</td><td>579.35</td><td>0.03%</td></tr><tr><td>iShares Core S&amp;P 500 ETF</td><td>559.64 </td><td>0.03%</td></tr><tr><td>Vanguard Total Stock Market (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTI#NYSE">VTI</a>)</td><td>460.11</td><td>0.03%</td></tr><tr><td>Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)</td><td>310.27 </td><td>0.20%</td></tr><tr><td>Vanguard Growth ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VUG#NYSE">VUG</a>)</td><td>151.13 </td><td>0.04%</td></tr><tr><td>Vanguard FTSE Developed Markets ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VEA#NYSE">VEA</a>)</td><td>135.42</td><td>0.06%</td></tr><tr><td>Vanguard Value ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTV#NYSE">VTV</a>)</td><td>133.31</td><td>0.04%</td></tr><tr><td>Vanguard Total Bond Market (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BND#NYSE">BND</a>)</td><td>119.17 </td><td>0.03%</td></tr></tbody></table><figcaption class="wp-element-caption">Data: ETF.com</figcaption></figure>



<h3 class="wp-block-heading">Expense Ratio: A Critical Factor For VOO&#8217;s Institutional Inflows</h3>



A key driver of VOO's success is its rock-bottom expense ratio of 0.03%, less than a third of SPY's 0.0945%. 



These differences have significant implications, especially for institutional investors managing billions.



A retail investor putting $5,000 into VOO at the start of the year would pay only $1.50 in annual expenses, while the same investment in SPY would cost $4.73 – basically an irrelevant difference. 



In sharp contrast, an institutional investor allocating $5 billion to VOO would pay just $1.5 million in fees, compared to $4.73 million with SPY—a staggering $3.23 million difference.



This simple example may explain that expense ratio differences are a huge driver of wholesale <a href="https://www.benzinga.com/etfs">investor flows into ETFs</a>.



Read Now:



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<li><a href="https://www.benzinga.com/24/11/42148340/black-friday-cyber-monday-deals-on-wall-street-why-buying-walmart-or-amazon-before-the-holidays-might-backfire">Why Walmart, Amazon Stock Could Stumble This Holiday Season</a></li>
</ul>



Image:

Vanguard's S&P 500 ETF Hits $100 Billion Inflows In 2024: Is SPY's Crown At Risk?

Note: This article has been updated to include Bernstein&#8217;s revised price target for MSTR.



In a remarkable turn of events,&nbsp;MicroStrategy Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) saw its shares jump by 5.93% in pre-market trading on Monday, as per <a href="https://pro.benzinga.com">Benzinga Pro</a>. This surge comes on the heels of co-founder&nbsp;Michael Saylor&#8216;s announcement that the company is generating $500 million daily as Bitcoin edges closer to the $100,000 mark.



What Happened: At the time of reporting, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was valued at $98,273.58. The cryptocurrency&#8217;s rise has significantly impacted MicroStrategy&#8217;s performance, as the company has heavily invested in Bitcoin.



On the same day, Canaccord Genuity reaffirmed its Buy rating for MicroStrategy&#8217;s stock, elevating its price target from $300.00 to $510.00. The firm commended MicroStrategy&#8217;s novel strategy in assessing value creation through a new key performance indicator centered on Bitcoin accretion per share and Bitcoin yield.



Bernstein&#8217;s <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42160774/microstrategy-is-the-bitcoin-magnet-says-bernstein-but-not-everybodys-sold-nothing-is-free-in-finance-says-one-analyst">Monday report also emphasizes</a> MicroStrategy&#8217;s pivotal role in bringing Bitcoin into the Wall Street mainstream, forecasting the company&#8217;s Bitcoin holdings to rise from the current 1.7% to 4% of the global supply by 2033. It also raised the price target for the stock to $600, a 42% upside from its current $421.88.



See Also:&nbsp;<a href="https://www.benzinga.com/general/social-media/24/11/42154487/robert-kiyosaki-trump-will-make-america-richer-again-by-being-the-first-bitcoin-president?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Robert Kiyosaki: &#8216;Trump Will Make America Richer Again By Being The First Bitcoin President&#8217;</a>



Why It Matters:&nbsp;Saylor&nbsp;recently revealed that&nbsp;<a href="https://www.benzinga.com/24/11/42151809/michael-saylor-reveals-microstrategy-is-making-500m-a-day-with-bitcoin-may-very-well-be-the-most-profitable-company-in-the-us-growing-the-fastest-right-now">MicroStrategy&nbsp;is minting $500 million a&nbsp;day</a>&nbsp;as Bitcoin approaches&nbsp;$100,000 for the first time. Saylor highlighted the company&#8217;s massive gains, noting that their Bitcoin holdings appreciated by $5.4 billion over two weeks. This underscores the significant impact of Bitcoin&#8217;s value on MicroStrategy&#8217;s financial health.



However, not everyone is convinced of MicroStrategy&#8217;s valuation. <a href="https://www.benzinga.com/24/11/42156261/are-microstrategys-shares-worth-only-105-investment-adviser-gary-black-weighs-in">Investment adviser Gary Black</a> questioned the company&#8217;s stock price, suggesting it might be overpriced. Black pointed out that while MicroStrategy&#8217;s Bitcoin holdings were valued at $31.2 billion, the company&#8217;s market value was $106 billion, raising concerns about its equity value.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42146459/bitcoin-on-brink-of-breaking-100000-dogecoin-up-ethereum-down-crypto-community-holds-its-breath-as-btc-guns-for-milestone?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin &#8216;On Brink Of Breaking $100,000,&#8217; Dogecoin Up, Ethereum Down: Crypto Community Holds Its Breath As BTC Guns For Milestone</a></li>
</ul>



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



Image via Shutterstock

Pre-Market Outlook

MSTR

MicroStrategy Shares Rise In Monday Pre-Market As Michael Saylor Reveals MSTR Generating $500M Daily Amid Bitcoin's Surge (UPDATED)

Wedbush Securities has issued an endorsement of the artificial intelligence software sector, with Managing Director Dan Ives predicting that 2025 will be a pivotal year for AI implementation across the industry. This comes as Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) continues its remarkable ascent, <a href="https://www.benzinga.com/24/11/42143996/daddys-home-palantir-creates-two-new-billionaires-after-trumps-win-both-own-less-than-2-stock-and-are-thiels-favorites">having surged 288% year-to-date</a>.



What Happened: In a notable sector-wide upgrade, Ives raised Palantir&#8217;s price target to $75 while upgrading both Elastic NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESTC#NYSE">ESTC</a>) and Snowflake Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) to Buy ratings. He also increased Salesforce Inc.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) price target to $375, signaling broader confidence in the software sector&#8217;s AI potential.



&#8220;The AI Revolution is accelerating and now it&#8217;s the software sector that will benefit from the use case phase of AI set to be primetime in 2025,&#8221; Ives <a href="https://x.com/DivesTech/status/1860816966367281267">wrote</a>, adding, &#8220;Software AI age here.&#8221;



The bullish outlook aligns with <a href="https://www.benzinga.com/24/11/42094248/trumps-return-boosts-palantir-national-security-bets-drive-140-billion-market-cap">Palantir&#8217;s recent performance</a>, which has seen its market capitalization soar to approximately $140 billion, surpassing defense contractor Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>). The company&#8217;s growth has been particularly notable following recent political developments, with its stock reaching $61 per share.



See Also: <a href="https://www.benzinga.com/general/social-media/24/11/42155884/economist-slams-doges-simplistic-approach-to-government-spending-questions-super-bowl-ad-criticism">Economist Slams DOGE: Tells Elon Musk-Led Initiative To &#8216;Do Your Legal Job Well&#8217; Amid Super Bowl Ad Spending Clash</a>



Why It Matters: Palantir&#8217;s momentum is supported by concrete achievements, including a $480 million Pentagon contract for Project Maven and its first profitable year in 2023, reporting $144 million in <a href="https://www.benzinga.com/24/11/42094248/trumps-return-boosts-palantir-national-security-bets-drive-140-billion-market-cap">third-quarter net income</a>. 



The company has successfully expanded its <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/42039361/palantir-soars-to-150b-market-cap-as-analysts-flag-risks-in-valuation-insider-sales">commercial sector revenue</a> to 35% of total earnings, securing major contracts with CVS Health Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) and BP plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>).



However, some investors express caution regarding valuations. Major hedge funds, including Renaissance Technologies and ARK Investment Management, reduced their Palantir <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/42039361/palantir-soars-to-150b-market-cap-as-analysts-flag-risks-in-valuation-insider-sales">holdings in the third quarter</a>, though maintaining significant positions. 



The company&#8217;s P/E ratio of 328.85 and heavy retail investor base of approximately 50% have prompted discussions about <a href="https://www.benzinga.com/24/11/42094248/trumps-return-boosts-palantir-national-security-bets-drive-140-billion-market-cap">potential market volatility</a>.



Price Action: Palantir&#8217;s stock closed at $64.35 on Friday, gaining 4.87% during the regular trading session. In after-hours trading, the stock dipped slightly by 0.20%. Year-to-date, Palantir has seen a remarkable surge of 288.12%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/24/11/42155405/mcdonalds-spends-100-million-after-e-coli-outbreak-as-trust-and-love-must-be-rebuilt-says-chief-impact-officer">McDonald&#8217;s Spends $100 Million After E. Coli Outbreak As &#8216;Trust And Love&#8217; Must Be Rebuilt, Says Chief Impact Officer</a></li>
</ul>



Image Via Shutterstock 



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

ESTC

PLTR

SNOW

Palantir Price Target Raised To $75 By Dan Ives Amid 288% YTD Surge: Analyst Calls 2025 A 'Primetime' Year For AI

U.S. stocks could get off to a positive start on Monday amid upbeat investor sentiment spurred the Dow Jones to <a href="https://www.benzinga.com/24/11/42157447/dow-settles-at-record-high-investor-sentiment-improves-fear-greed-index-remains-in-greed-zone">close at a new record high</a> on Friday.



Donald Trump's Treasury Secretary pick, Scott Bessent, has been cheered by investors. The hedge fund manager<a href="https://www.benzinga.com/news/24/11/42158330/trumps-treasury-secretary-pick-scott-bessent-says-a-global-economic-reordering-is-on-the-way-argues-president-elects-policies-will-lead-to-an-economic-lollapalooza"> told the Wall Street Journal</a> in an interview that he will make Trump's first-term tax cuts permanent, while also eliminating taxes on tips, social security benefits, and overtime pay, fulfilling the President-elect's election promises.



Expectations of a further 25 basis point rate cut in December have fallen to just 56% now, down from 75% a month ago, according <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">to</a> CME Group's FedWatch tool.



<figure class="wp-block-table"><table><tbody><tr><td>Futures</td><td>Performance (+/-)</td></tr><tr><td>Nasdaq 100</td><td>0.58%</td></tr><tr><td>S&amp;P 500</td><td>0.49%</td></tr><tr><td>Dow Jones</td><td>0.68%</td></tr><tr><td>R2K</td><td>1.12%</td></tr></tbody></table></figure>



In premarket trading on Monday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was up 0.54% to $598.72 and the Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.64% to $509.01, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data</a>.



Cues From Last Week:



Major indices on Wall Street recorded gains last week, with the Dow gaining around 2% and the S&amp;P 500 adding around 1.7%. The tech-heavy Nasdaq also registered gains to close up by nearly 1.6%, despite volatility as investors digested Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) earnings.



On the economic data front, the S&amp;P Global US Services PMI climbed to 57 in November versus 55 in the previous month, while manufacturing PMI increased to 48.8 in November from 48.5 in the previous month.



The University of Michigan consumer sentiment for the US fell to 71.8 in November versus a preliminary reading of 73.



Most sectors on the S&amp;P 500 closed on a positive note, with industrials, financials, and consumer discretionary stocks recording the biggest gains on Friday.



However, utilities and communication services stocks bucked the overall market trend, closing the session lower.



<figure class="wp-block-table"><table><tbody><tr><td>Index</td><td>Week&#8217;s Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>1.64%</td><td>19,003.65</td></tr><tr><td>S&amp;P 500</td><td>1.7%</td><td>5,969.34</td></tr><tr><td>Dow Jones</td><td>2.18%</td><td>44,296.51</td></tr><tr><td>Russell 2000</td><td>4.54%</td><td>2,406.67</td></tr></tbody></table></figure>



Insights From Analysts:



Wells Fargo analysts have expressed optimism about food inflation cooling down further over the coming weeks, but that it could be less noticeable now than it has been over the last two years.



"Few Americans may include a slower pace of food price growth on their list of things to be grateful for this year, but our team does expect consumer price inflation for food to continue to quiet down over time—just less noticeably than has been seen over the past two years," the analysts said in a recent note.



Ryan Detrick, chief market strategist at Carson Group, continued to remain bullish on equities.



"Various advance/decline lines show no major signs of deterioration. This continues to suggest the bull market is alive and well."



<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">Great chart from <a href="https://twitter.com/HumbleStudent?ref_src=twsrc%5Etfw">@HumbleStudent</a> here. Various advance/decline lines show no major signs of deterioration. This continues to suggest the bull market is alive and well. Credit spreads will expand and this will weaken when the trend changes. We aren&#39;t there. <a href="https://t.co/CR0APJjCBz">pic.twitter.com/CR0APJjCBz</a>&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1860724216695267673?ref_src=twsrc%5Etfw">November 24, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



He added that investors who expect a correction after the S&amp;P 500 gained 20% for two years in a row do not have history on their side. In eight of the previous such instances, the S&amp;P 500 gained an average of 12.3% in the third year, according to data compiled by Detrick.



<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">Up 20% two years in a row? Not saying the next year can&#39;t be red, but if this is why you are bearish, history isn&#39;t on your side. <a href="https://t.co/XXDMAszm8X">pic.twitter.com/XXDMAszm8X</a>&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1860829081299800536?ref_src=twsrc%5Etfw">November 24, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Nathan Peterson, Director of Derivatives Analysis at the Schwab Center for Financial Research, laid <a href="https://www.schwab.com/learn/story/weekly-traders-outlook/">out</a> the thesis for market movements for the next week.



"Taking everything into consideration, bullish seasonality, bullish technicals, a strong fundamental backdrop and a friendly Fed leave me in the bullish camp for next week," Peterson said.



This week will have a shorter trading window due to Thanksgiving, which could mean lower volume but higher volatility.



"From a seasonality perspective, November is a bullish month for stocks and &#8216;Thanksgiving Week&#8217; tends to be an up week more often than not."



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



Upcoming Economic Data



This week's economic calendar is not as packed as last week's due to Thanksgiving.



<ul>
<li>On Tuesday, the S&amp;P Case-Shiller home price index for 20 cities will be released at 9 a.m. ET.</li>



<li>Data on consumer confidence and new home sales will be released at 10 a.m. ET.</li>



<li>The minutes of the Fed&#8217;s November FOMC meeting will be released at 2 p.m. ET.</li>



<li>On Wednesday, initial jobless claims, advanced durable goods orders, U.S. trade balance, retail and wholesale inventories, and the first revision of GDP will be released at 8:30 a.m. ET.</li>



<li>Chicago Business Barometer (PMI) will be released at 9:45 a.m. ET.</li>



<li>Nominal personal income and spending data will be released at 10 a.m. ET.</li>



<li>PCE index and pending home sales data will be released at 10 a.m. ET.</li>
</ul>



No major economic reports are scheduled for Monday, Thursday, and Friday this week.



Stocks In Focus:



<ul>
<li>MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42159139/microstrategy-shares-rise-in-monday-pre-market-as-michael-saylor-reveals-mstr-generating-500m-daily-amid-bitcoins-surge">stock surged</a> by more than 5% in premarket trading on Monday as Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) inched closer to the $100,000 mark.</li>



<li>Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) stock was up nearly 7% in premarket trading after the company submitted a plan last week to be in compliance once again with the listing requirements to trade on the Nasdaq.</li>



<li>Snowflake Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) stock rose over 3.6% in premarket trading after the company was upgraded to "Outperform" by brokerage firm Wedbush.</li>



<li>Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) stock gained 3% in premarket trading after Wedbush <a href="https://www.benzinga.com/news/global/24/11/42156160/palantir-price-target-raised-to-75-by-dan-ives-amid-288-ytd-surge-analyst-calls-2025-a-primetime-year-for-ai">upgraded its price target</a> for the company to $75 from $57.</li>



<li>Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) stock surged 4% in premarket trading after analysts at Morgan Stanley increased the price target to $55 from $24.</li>



<li>Investors are awaiting earnings results from Bath &amp; Body Works, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBWI#NYSE">BBWI</a>), Agilent Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/A#NYSE">A</a>), and Zoom Video Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>) today.</li>
</ul>



Commodities, Bonds And Global Equity Markets:



Crude oil futures fell in the early New York session, declining 0.29% to hover around $71.03.



The 10-year Treasury note yield eased to 4.351%.



Major Asian markets ended mixed on Monday, while European markets edged up in early trading.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/24/11/42028334/bitcoin-ethereum-dogecoin-slip-as-feds-hawkish-stance-tempers-rally-analyst-expects-btc-to-reach-100k-before-new-year">Bitcoin, Ethereum, Dogecoin Slip As Fed&#8217;s Hawkish Stance Tempers Rally: Analyst Expects BTC To Reach $100K Before New Year</a></li>
</ul>



Photo courtesy: Wikimedia

Earnings

Futures

Economics

Federal Reserve

HOOD

NVDA

US Stocks Likely To Open On A Positive Note As Trump's Treasury Secretary Pick Uplifts Investor Sentiment: Expert Says 'Bull Market Is Alive And Well'

Bitcoin recovered strongly from its morning fall as cryptocurrency investors prepared for Thanksgiving.



<figure class="wp-block-table"><table><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 7:45 p.m. ET)</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>-0.05%</td><td>$97,873.88</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-1.93%</td><td>$3,349.58</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-3.03%</td><td>$0.4231</td></tr></tbody></table></figure>



What Happened: The leading cryptocurrency fell below $96,000 during the afternoon, only to recover losses as the evening progressed.



On Friday, the asset nearly reached the record $100,000 level before stalling due to a strong pushback from the bears.



Ethereum, the second-largest cryptocurrency by market capitalization, failed to replicate its senior token&#8217;s comeback, ending the 24-hour period down by nearly 2%.



The sharp correction caused mayhem in the cryptocurrency derivatives market, with over $511 million getting liquidated in the last 24 hours. About $380 million in leveraged long bets were wiped out.



Bitcoin's Open Interest (OI) dropped marginally by 0.20%, while the number of short positions for the coin surged dramatically against longs in the last 24 hours.



Market sentiment remained in the "Extreme Greed" zone, as per the Cryptocurrency Fear and Greed Index, signaling a desire to buy more.



Top Gainers (24-Hours)



<figure class="wp-block-table"><table><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 7:45 p.m. ET)</td></tr><tr><td>The Sandbox (SAND)</td><td>+73.46%</td><td>$0.7739</td></tr><tr><td>Decentraland (MANA)</td><td>+31.24%</td><td>$0.7014</td></tr><tr><td>Tezos (XTZ)</td><td>+15.88%</td><td>$1.35</td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.33 trillion, following a marginal contraction of 0.69% in the last 24 hours.



Stock futures inched higher Sunday night. The Dow Jones Industrial Average Futures rose 226 points, or 0.51%, as of 7:45 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 gained 0.42%, while Nasdaq 100 Futures added 0.49%.



The shortened Thanksgiving trading week would see the release of October's personal consumption expenditure (PCE) data, the Federal Reserve's preferred inflation measure.



.See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>



Analyst Notes: In a note to Benzinga, Chris Kline, COO and Co-Founder of BitcoinIRA, noted a significant interest in Bitcoin.



"Bitcoin appears to be crossing the Rubicon, garnering enthusiasm among those discussing economic policy at the national level, both in the US and across the globe," Kline said.



He also highlighted the elevation of <a href="https://www.benzinga.com/24/11/42028576/rfk-jr-stands-firm-on-bitcoin-as-currency-of-freedom-says-howard-lutnik-as-treasury-secretary-will-be-best-for-apex-crypto">Bitcoin proponents</a> to cabinet-level positions in the incoming Donald Trump administration, potentially making "murky regulatory waters" clear.



Widely-followed cryptocurrency analyst Ali Martinez predicted Bitcoin to peak between June and September 2025 in the ongoing bull cycle.



"Long-term Bitcoin holders are showing signs of growing greed! Historically, this behavior suggests it could take 8–11 months for BTC to hit a market top,&#8221; Martinez stated.



<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">Long-term <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> holders are showing signs of growing greed! Historically, this behavior suggests it could take 8-11 months for <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> to hit a market top. If the trend holds, we might see a potential peak between June and September 2025! <a href="https://t.co/UacfaQb5VW">pic.twitter.com/UacfaQb5VW</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1860708957213659648?ref_src=twsrc%5Etfw">November 24, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



 Photo by Igor Faun on Shutterstock 



Read Next:    



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42155055/crypto-analyst-bitcoin-poised-to-skyrocket-to-180k-and-eventually-top-1m">Crypto Analyst: Bitcoin Poised To Skyrocket To $180K and &#8216;Eventually&#8217; Top $1M</a></li>
</ul>

Bitcoin Recovers From $95K Dip, Ethereum, Dogecoin Fall Ahead Of Thanksgiving Holiday:  BTC Is 'Crossing The Rubicon,' Says Expert

Following the <a href="https://www.benzinga.com/news/24/11/41768178/donald-trump-defeats-kamala-harris-to-win-2024-election">2024 U.S. Presidential election</a>, a significant shift is happening in the social media landscape.&nbsp;



Many users, including Taylor Swift's fanbase, the Swifties, <a href="https://www.benzinga.com/24/11/41872302/taylor-swift-fans-abandon-elon-musks-x-for-bluesky-how-trumps-election-victory-triggered-swifties-uprising">have begun leaving</a> Elon Musk's X, formerly Twitter, for Bluesky, a rising social media platform.



In just a few days, Bluesky's user base surged from 14 million to 20 million, growing by a million new users each day.



This sudden influx follows dissatisfaction with Musk's social media platform, especially after the changes he introduced following the acquisition of Twitter, and now the 2024 election outcome.



Why Bluesky?



Bluesky offers a <a href="https://www.benzinga.com/general/social-media/24/11/42039681/x-vs-threads-vs-bluesky-does-elon-musks-social-media-site-still-reign-supreme">refreshing alternative</a> to X and Meta Platforms, Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) Threads.



Unlike Threads, which has minimized political content, Bluesky allows for more personalized, open conversations. Its open-source model, based on the AT Protocol, aims to empower users with greater control over their content and moderation.



With features like user-curated starter packs and decentralized governance, Bluesky has become a top choice for former X users looking for a platform that prioritizes user experience over corporate control.



See Also: <a href="https://www.benzinga.com/tech/24/11/42056367/how-to-safeguard-your-data-before-apples-deadline-step-by-step-guide-for-backing-up-ios-8-and-earlier-devices">How To Safeguard Your Data Before Apple&#8217;s Deadline: Step-By-Step Guide For Backing Up iOS 8 And Earlier Devices</a>



Getting Started With Bluesky: The Starter Packs



If you&#8217;re new to Bluesky, building your feed from scratch can be overwhelming. Thankfully, Bluesky's starter packs make this process easier.



Starter packs are user-curated lists of accounts, organized by interests, topics, or locations. They allow new users to quickly find and follow accounts that align with their interests without the tedious process of searching individually.



How To Find And Use Starter Packs



With over 86,000 starter packs available, you can browse them through the directory and search by keywords. Click <a href="https://blueskydirectory.com/starter-packs/all?q=">here</a> to access the directory.



You can either follow individual accounts or use the &#8220;follow all&#8221; button for faster results.



Here are some examples of user-created starter packs:&nbsp;



<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/23030750/Screenshot-2024-11-23-at-1.37.44%E2%80%AFPM-1024x641.png" alt="" class="wp-image-662038"/><figcaption class="wp-element-caption">Source: Bluesky</figcaption></figure>



Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.



<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/23031140/Screenshot-2024-11-23-at-1.41.30%E2%80%AFPM-1024x639.png" alt="" class="wp-image-662039"/><figcaption class="wp-element-caption">Source: Bluesky</figcaption></figure>



How To Create Your Own Starter Pack



In case, you want to create your unique starter pack, there are some easy steps you can follow.



Step I: Go to your profile on the mobile or desktop app.



Step II: Tap &#8220;Starter Packs&#8221; and select &#8220;Create.&#8221;



Step III: Name your pack, add a description, and choose users to include.



Step IV: Share your new pack with others through a post.



Image via Bluesky



Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.



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

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Bluesky Adds Millions Of Users As Elon Musk's X Faces Exodus Post Trump Victory: Here Are A Few Starter Packs To Help You Level Up On The Platform

In 2014, during an interview with Charlie Rose at the TED Conference, Google cofounder Larry Page made headlines with an unusual revelation. Page didn't point to traditional charitable foundations or heirs when asked about his thoughts on legacy and philanthropy. Instead, he floated the idea of leaving his wealth to <a href="https://www.benzinga.com/real-estate/24/05/38942636/elon-musk-reportedly-bought-a-secret-mansion-shortly-after-selling-all-his-possessions-and-publicly">Elon Musk</a>, the tech visionary behind Tesla and SpaceX.



Page's reasoning? Musk's <a href="https://www.benzinga.com/personal-finance/24/09/40778284/elon-musk-says-almost-anyone-can-afford-a-trip-to-mars-at-100-000-to-500-000-even-if-it-means-se">bold mission to colonize Mars</a> and "back up humanity." In the interview, Rose referenced past comments Page had made about this idea, asking for clarification.&nbsp;



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According to the transcript on the Charlie Rose site, Rose said: "You once said – actually, I think I've got this about right – that you might consider, rather than giving your money to a cause, simply giving it to Elon Musk because you had confidence he would change the future."



Larry Page replied: "He actually wanted to go to Mars – he wants to go to Mars to back up humanity." He elaborated, "It's a company and it's philanthropical. So I think, you know, we aim to do kind of similar things."



Page then shifted focus to Google's culture of innovation, adding, "We have a lot of employees at Google who've become pretty wealthy … A lot of people in there are pretty wealthy. You're working because you want to change the world and you want to make it better. So why isn't the company they work for worthy not just of your time, but your money as well?"



For Page, Musk's ambitious goals aligned with his belief that companies, when run effectively, could drive revolutionary change. He elaborated, saying, "Lots of companies don't succeed over time. They usually miss the future … I try to focus on that: What is the future really going to be? And how do we create it?"



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Page and Musk once shared a close friendship. Musk frequently <a href="https://www.benzinga.com/personal-finance/24/03/37923084/elon-musk-used-to-email-ex-google-ceo-larry-page-when-he-was-kind-of-homeless-and-ask-can-i-come">stayed at Page's house</a> during visits to Silicon Valley and their shared passion for pushing technological boundaries made them natural allies. Their camaraderie landed them on Fortune's 2016 list of "Business Leaders You Didn't Know Were BFFs."&nbsp;



Musk even <a href="https://www.benzinga.com/general/24/02/36953481/elon-musk-almost-sold-tesla-to-google-for-11-billion-but-he-called-the-deal-off-when-he-no-longer-ne">attempted to sell Tesla to Google</a> for $11 billion, according to Ashlee Vance&#8217;s biography, &#8220;Elon Musk: Tesla, SpaceX and the Quest for a Fantastic Future.&#8221; The two friends actually both agreed to the deal via handshake, but called it off once Tesla "no longer needed a savior."



However, their relationship reportedly soured around 2013. Musk's growing concerns about the dangers of artificial intelligence clashed with Page's more optimistic outlook. At Musk's birthday party that year, the two had a heated debate about AI. Page allegedly called Musk a "speciesist" for prioritizing human interests over other forms of intelligence.



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The tension grew after Musk cofounded OpenAI, a nonprofit <a href="https://www.benzinga.com/general/24/04/38073344/mark-cuban-predicts-worlds-first-trillionaire-wont-be-musk-or-bezos-itll-be-someone-who-masters-ai-a">ensuring AI safety</a>, which was seen as a direct challenge to Google, which had acquired DeepMind, a leading AI company. Musk even tried to dissuade DeepMind's CEO from selling to Google, further straining their relationship.



But despite their falling out, Musk has recently desired to mend fences. In a 2023 podcast with Lex Fridman, Musk said, "I would like to be friends again with Larry. I haven't seen him in ages. We were friends for a very long time." However, he acknowledged that Page might not feel the same, noting, "He doesn't want to talk to me anymore."



Larry Page's 2014 remarks about leaving his fortune to Elon Musk reflect his belief that revolutionary change outweighs incremental progress. While the future of their friendship remains uncertain, both Page and Musk continue to be key players in shaping the future of technology – and maybe even humanity.



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Larry Page, Google Co-Founder, Said He'd Leave His Fortune To Elon Musk Over Charity Because Of His Plans 'To Go To Mars To Back Up Humanity'

New data from Realtor.com shows a partisan divide in housing market sentiment after<a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42027218/could-trumps-housing-plans-reshape-the-real-estate-market"> Donald Trump&#8217;s presidential election victory</a>. Republicans have increased optimism, while Democrats are hesitant about home-buying plans.



Morning Consult&#8217;s survey in early November found that roughly 20% of Republicans report being more likely to purchase a home due to the election outcome. In contrast, nearly a quarter of Democrats indicate they&#8217;re now less likely to enter the housing market in the coming year.



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Independent voters remained largely unmoved by the election results, with 74% reporting no change in their home-buying intentions. The contrasting sentiments align with Trump&#8217;s proposed housing policies. Real estate experts anticipate market changes under his leadership, particularly around interest rates and development regulations. His platform, <a href="https://www.benzinga.com/real-estate/24/11/41968915/will-trumps-second-term-unlock-housing-lower-rates-more-development-on-the-table-experts-say">announced before the election</a>, called for removing construction barriers, including regulations that currently add over $90,000 to new home prices and for opening federal lands for housing development.



&#8220;Many in the real estate business are elated with a Trump victory and if the administration can live up to its campaign promises, rightfully so,&#8221; said Alex Beene, financial literacy instructor at the University of Tennessee at Martin. &#8220;For months, he has been advocating for lower interest rates, which have become one of the most significant barriers to homeownership in the post-pandemic years.&#8221;



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However, Realtor.com Chief Economist Danielle Hale said the proposals present opportunities and challenges. While supply-side policies might boost housing inventory, proposed immigration restrictions could affect construction labor. Census Bureau data shows that up to one-third of residential construction relies on foreign-born workers. The survey polled 2,201 adults nationwide and highlighted demographic variations in housing market confidence.



Male respondents showed notably higher optimism, with 18% indicating an increased likelihood to buy compared to 10% of women. Generation Z emerged as the most optimistic age group, with 22% reporting enhanced home-buying prospects, followed by millennials at 19%, Generation X at 12% and baby boomers at 6%.



Economic outlook drives the responses. Republicans who expressed increased interest in home buying cited anticipated improvements in economic conditions and confidence in the new administration.&nbsp;



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Democrats who expressed decreased home-buying interest pointed to economic concerns. &#8220;There is a very real possibility that the economy will tank and having my own home will be impossible,&#8221; one participant stated. Others specifically mentioned worries about inflation and tariff policies.



The housing sentiment split mirrors broader economic confidence trends. Morning Consult data cited by Realtor shows Republican consumer sentiment surged nearly 30% postelection, while Democratic sentiment declined 13% during the same period.



Current homeowners across party lines reported minimal impact on their selling intentions, though Democrats showed a slightly higher tendency to delay selling plans.



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24% Of Democrats Say Trump's Election Made Them Less Likely To Buy A Home

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