Elon Musk Reacts After Brazilian President's Wife Swears At Tesla CEO: 'They Will Lose The Next lection'
Brazil’s first Lady Rosangela da Silva reportedly swore at Tesla Inc CEO Elon Musk at an event in Rio de Janeiro on Saturday.
What Happened: “F— you, Elon Musk,” she said while talking about the need to regulate social media, Bloomberg reported.
Musk responded to the snippet of the First Lady’s speech on social media platform X and said, “They will lose the next election.”
Rosangela da Silva is the wife of President Luiz Inacio Lula da Silva of the Workers’ Party who won against Jair Bolsonaro in 2022. Brazil’s next Presidential election is slated for 2026.
Why It Matters: Brazil banned Musk-owned social media platform X earlier this year after it failed to ban profiles that the government claimed were spreading misinformation.
Musk subsequently resorted to namecalling Brazilian Supreme Court Justice Alexandre de Moraes on X, referring to him as a “criminal wearing judges robes like a Halloween costume.”
“The world is not obliged to put up with Musk’s far-right ideology just because he is rich,” President da Silva said in September about Musk.
X was restored in Brazil in October after X complied with the judge’s demands.
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Elon Musk's Hedgehog Meme Coin 'SHRUB' Skyrockets, Cathie Wood Sets Ambitious Bitcoin Price Target, Industry Expert Predicts 'Euphoria' Stage For Market And More: Top Crypto Updates This Week
The week was filled with noteworthy events in the world of cryptocurrencies. From the rise of new meme coins to ambitious price forecasts, the crypto market continues to surprise and intrigue. Here’s a quick recap of the top stories that made headlines.
Trump’s AG Pick Gaetz Suggested Bitcoin for Federal Income Taxes
President-elect Donald Trump’s nominee for attorney general, Rep. Matt Gaetz, is known for his unconventional ideas, particularly concerning cryptocurrencies. Earlier this year, Gaetz proposed a bill that would allow federal income tax payments to be made in Bitcoin, potentially revolutionizing the way taxes are collected in the U.S. Read the full article here.
Musk’s Hedgehog Meme Coin ‘SHRUB’ Skyrockets
Elon Musk’s latest pet, a hedgehog named Shrub, has inspired a new meme coin. Shrub saw a staggering increase of over 3,300% in just one week as of Thursday, with its valuation soaring past $100 million. This surge followed a tweet by Musk introducing his pet hedgehog to the world. Read the full article here.
See Also: If You Invested $100 In Pepe Coin At Launch, Here’s How Much You’d Have Today
Cathie Wood’s Bitcoin Price Target for 2030
Ark Invest CEO Cathie Wood has been a long-time advocate for Bitcoin. She recently shared her price target for the leading cryptocurrency, predicting it could reach as high as $3.8 million by 2030. If her forecast comes true, a small investment in Bitcoin today could yield significant returns in the future. Read the full article here.
Millionaire BONK, DOGE Trader Shares Insights
Known as the ‘BONK guy,’ millionaire trader Unipcs recently shared his journey in meme coin trading. He emphasized that trading meme coins isn’t as easy as it’s often portrayed, requiring patience and conviction to withstand extreme volatility. His long-term position in Bonk BONK/USD and successful trades with Dogecoin DOGE/USD and Department of Government Efficiency (DOGE) meme coin is a testament to his strategy. Read the full article here.
Industry Expert Predicts ‘Euphoria’ Stage for Crypto Market
Jason Yanowitz, co-founder of Blockworks, believes the cryptocurrency market is about to enter the ‘Euphoria’ stage, the most exciting phase of a four-stage bull market. This phase could see some coins nearing their all-time highs. Read the full article here.
Read Next: Here’s How Much $100 In Bitcoin Could Be Worth In 2030 If Cathie Wood’s Price Target Is Reached
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This story was generated using Benzinga Neuro and edited by Anan Ashraf.
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How to Build a Recession-Proof Stock Portfolio
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Building a recession-proof stock portfolio can help investors weather economic downturns with greater stability and confidence. While no portfolio can be entirely recession-proof, selecting resilient stocks from defensive sectors and diversifying your investments can help you mitigate the impact of a market downturn. A financial advisor can work with you to diversify your portfolio to minimize risk.
Investing during a recession differs significantly from investing in a thriving market. In a normal market, economic growth typically boosts consumer spending, business expansion and corporate earnings, which in turn supports rising stock prices.
However, a recession generally brings a slowdown in economic activity, reduced consumer spending and lower business profits. As companies cut costs, freeze hiring and scale back operations, stock prices can fall across the board and volatility increases.
For investors, a recession can create losses in their portfolio, particularly for cyclical stocks in sectors like retail, travel and luxury goods, which are more sensitive to economic conditions. Many cyclical stocks tend to underperform during recessions as consumers cut back on non-essential purchases and businesses tighten budgets.
On the other hand, defensive stocks – those in sectors like healthcare, utilities and consumer staples – can hold their value better during economic downturns, as these sectors provide essential goods and services that remain in demand regardless of economic conditions.
Managing a portfolio in a recession means adapting to the increased risks and focusing on assets that provide stability and defensive growth. For many investors, this may involve shifting away from high-growth, high-volatility sectors and increasing holdings in stocks and assets that have shown resilience in past recessions.
Diversification is a key strategy for protecting a portfolio during a recession. By spreading investments across different asset classes and sectors, investors can reduce the risk of heavy losses if one area of the market suffers. A diversified portfolio includes a mix of stocks, bonds and other assets that may not move in the same direction during economic shifts.
During recessions, diversification becomes especially important because different asset classes respond to economic downturns in unique ways. For example, while stocks may decline, certain bonds or defensive sector stocks may continue to perform well. This helps to create balance and reduce the likelihood of substantial losses.
Xi Jinping Tells Joe Biden: China Is 'Ready To Work With' Trump As Tariff Threat Looms
Chinese President Xi Jinping has expressed China’s willingness to collaborate with the U.S. government, regardless of the administration in power. This statement comes amid the ongoing U.S.-China tensions and the impending return of Donald Trump to the White House.
What Happened: In a meeting with President Joe Biden at the Asia-Pacific Economic Cooperation forum in Lima, Xi Jinping conveyed China’s readiness to work with the U.S. to maintain dialogue, expand cooperation, and manage differences for the benefit of both nations.
“China is ready to work with the US government to maintain dialogue, expand co-operation and manage differences . . . for the benefit of the two peoples,” Xi told Biden.
Biden, in turn, acknowledged the importance of the U.S.-China relationship and emphasized the need to prevent competition from escalating into conflict. The meeting took place just two months before Trump’s return to the presidency.
“Our two countries cannot let any of this competition veer into conflict,” Biden said.
“Over the past four years I think we’ve proven it’s possible to have this relationship.”
Despite the recent tensions, Xi’s message was clear: China is willing to work with the U.S. government, regardless of the administration in power.
Why It Matters: The U.S.-China relationship has been a focal point of global geopolitics, with potential implications for trade, technology, and security. The recent rumored appointments of China hawks to top roles in the Trump administration have already had a significant impact on Chinese markets, with the yuan hitting a three-month low.
Despite these tensions, China has been actively seeking to engage U.S. allies to mitigate the potential impact of Trump’s proposed tariffs. Trump has expressed his intention to implement a “pro-American trade policy that uses tariffs to encourage production here and bring trillions and trillions of dollars back home.”
Trump’s victory in the U.S. presidential election has also led to a decline in U.S.-listed Chinese stocks, with analysts warning of a potential escalation in U.S.-China tensions and its impact on trade policies. Major U.S.-listed Chinese stocks Alibaba Group Holding BABA, JD.com, Inc. (NASDAQ: JD), Baidu, Inc. BIDU, NIO Inc. NIO, Li Auto Inc. LI, and XPeng Inc. XPEV were trading lower in the U.S. after Trump’s victory.
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Boeing Issues Layoff Notices To Over 400 Aerospace Union Workers Amid Financial Struggles
Boeing Co. BA has issued layoff notices to over 400 members of its professional aerospace labor union, as part of the company’s ongoing efforts to recover from financial and regulatory challenges.
What Happened: The layoff notices were sent out last week to members of the Society of Professional Engineering Employees in Aerospace (SPEEA), reported AP News. The affected workers will remain on the payroll through mid-January.
In October, Boeing announced plans to cut 10% of its workforce, approximately 17,000 jobs, in the coming months. The company’s CEO, Kelly Ortberg, stated that the company must “reset its workforce levels to align with our financial reality.”
See Also: Elon Musk’s Hedgehog Meme Coin ‘SHRUB’ Outpaces Dogecoin, Shiba Inu Gains, Surges 3,000% In A Week
The layoffs have impacted 438 members of the SPEEA union, with the local chapter representing 17,000 Boeing employees, primarily based in Washington, with some in Oregon, California, and Utah. The affected workers will receive career transition services, subsidized health care benefits for up to three months, and severance pay.
Why It Matters: Boeing, based in Arlington, Virginia, has been grappling with financial and regulatory issues since an incident involving an Alaska Airlines plane in January. Following the incident, the Federal Aviation Administration has limited the production of the 737 MAX to 38 planes per month, a target Boeing has yet to achieve.
The recent layoffs are part of Boeing’s broader efforts to navigate its financial challenges. The aerospace giant has been grappling with a series of setbacks, including a tough market and regulatory issues following a plane fuselage incident in January.
Earlier this month, Boeing’s unionized Machinists ended a seven-week strike by accepting a new contract with significant pay increases. This deal, supported by the Biden administration and facilitated by Acting U.S. Secretary of Labor Julie Su, marked a significant development in Boeing’s labor relations.
Price Action: Boeing stock ended 1.48% higher at $140.19, according to data from Benzinga Pro.
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Toyota Slams California's 'Impossible' EV Mandate, Calls For National Regulation To Protect Consumers And Keep Manufacturing Viable
Toyota Motor North America has weighed in on California’s ambitious new electric vehicle (EV) mandates, calling the goals “impossible” given the slow growth of EVs in America. Currently, only 9% of U.S. car buyers choose EVs and in many states, the adoption rates of EVs are even lower.
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However, the California Air Resources Board (CARB) has set an ambitious mandate that 35% of all light-duty vehicle sales be zero-emission vehicles (ZEVs) or plug-in hybrids by 2026. The ultimate target is that by 2035, every new car sold in the state should be zero-emission.
As cited by CNBC, Toyota Chief Operating Officer Jack Hollis questioned the feasibility of such a timeline, saying, “I have not seen a forecast by anyone – government or private – that says that number is achievable.”
Toyota fears the mandate could force automakers to ignore what customers need, especially in markets where electric vehicles are less popular. Hollis suggested that pushing automakers to meet these requirements without adequate market support could limit consumer choices.
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California has traditionally taken a strict stance on emissions, setting standards more stringent than those required nationally under a federal waiver. This has led to a split market: some states follow California’s rules, while others follow national regulations.
Toyota, however, calls for a single national standard, arguing that a uniform rule for all states would help automakers more easily produce cars. “We would always want a 50-state rule because that way we can treat all customers, all dealers, equally,” Hollis explained.
See Also: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built and big plans to solve housing – you can become an investor for $0.80 per share today.
The emissions standards debate has sparked significant discussion throughout the industry. Hollis said California’s mandate could “limit consumer choice” by reducing the number of models available. Some politicians, including Democrat Elissa Slotkin, have echoed similar points, saying, “What you drive is your call, no one else’s.”
Dogecoin 'Repeating Its Historical Pattern,' Says Analyst: Meme Coin Set To Touch $3 By Trump's Inauguration Day 2025
Analyst John-Burr sees Dogecoin (DOGE/USD) price hitting the $3 mark by Jan. 20 and even touching $20 in the future, as per his analysis.
What Happened: “It’s eerie how DOGE is repeating its historical pattern,” Burr wrote on TradingView. “…there seems to be some temporal proximity to the Inauguration Day and the next bullish movement.”
Burr predicts Dogecoin to touch $3 by Inauguration Day. However, the analyst also acknowledged the possibility that he could be wrong, given the below-a-dollar price of Dogecoin now.
“But I am okay with that because I believe that this is the beginning of the bull run. I don’t care about the specific timing,” he wrote.
While some estimate Dogecoin to touch $40 by next year, the more skeptical won’t predict it to go over $3, Burr said while adding that he believes Doge could touch $20. However, he is not sure.
“I don’t know, tbh. The market is bigger than me, no matter the size of my portfolio, brain, or pedigree. Nevertheless, I bet my money on what I believe is the historical pattern,” Burr wrote.
Why It Matters: Doge has been rising following Donald Trump‘s landslide victory in the Presidential elections. Doge prices are up by over 160% over the past month and by over 50% over the past seven days, likely owing to expectations of pro-crypto regulations under Trump.
Trump has also named billionaire Dogecoin supporter Elon Musk to spearhead the Department of Government Efficiency together with former Republican presidential candidate Vivek Ramaswamy. The department’s acronym DOGE, coupled with Musk’s support for Doge and Trump’s promise of establishing the U.S. as the “crypto capital of the planet” during his campaign this year likely drove the rally.
Price Action: At the time of writing, DOGE was down 7.42% in the last 24 hours. However, the cryptocurrency has gained over 50% in the past week, according to Benzinga Pro data.
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