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OpenAI said Monday it’s releasing its buzzy AI video-generation tool, Sora, later in the day.

The AI video-generation model works similarly to OpenAI’s image-generation AI tool, DALL-E: A user types out a desired scene, and Sora will return a high-definition video clip. Sora can also generate video clips inspired by still images and extend existing videos or fill in missing frames. The Microsoft-backed artificial intelligence startup, which burst into the mainstream last year thanks to the viral popularity of ChatGPT, introduced Sora in February.

It’ll debut to U.S. users as well as to “most countries internationally” later today, according to OpenAI’s YouTube livestream, and the company has “no timeline” yet for launching the tool in Europe and the U.K., as well as some other countries.

OpenAI said users don’t need to pay extra for the tool, which will be included in existing ChatGPT accounts such as Plus and Pro. Employees on the livestream and OpenAI CEO Sam Altman demonstrated features like “Blend” (i.e., joining two scenes together at the user’s direction), as well as the option to make an AI-generated video endlessly repeat.

Until now, Sora has mainly been available to a small group of safety testers, or “red-teamers,” who test the model for vulnerabilities in areas such as misinformation and bias.

Reddit users asked OpenAI executives in October about Sora’s release date, questioning whether it was being delayed “due to the amount of compute/time required for inference or due to safety.” In response, OpenAI’s product chief Kevin Weil wrote, “Need to perfect the model, need to get safety/impersonation/other things right, and need to scale compute!”

“We obviously have a big target on our back as OpenAI,” Rohan Sahai, OpenAI’s Sora product lead, said on the livestream, adding that the company needs to prevent illegal use of the technology. “But we also want to balance that with creative expression.”

OpenAI closed its latest funding round in October at a valuation of $157 billion, including the $6.6 billion the company raised from an extensive roster of investment firms and Big Tech companies. It also received a $4 billion revolving line of credit, bringing its total liquidity to more than $10 billion.

It’s all part of a serious growth plan for OpenAI, as the Microsoft-backed artificial intelligence startup battles Amazon-backed Anthropic, Elon Musk’s xAI, Google, Meta, Microsoft and Amazon for the biggest slice of the generative AI market, which is predicted to top $1 trillion in revenue within a decade.

Earlier this month, OpenAI hired its first chief marketing officer, indicating plans to spend more on marketing to grow its user base. And in October, OpenAI debuted a search feature within ChatGPT that positions it to better compete with search engines like Google, Microsoft’s Bing and Perplexity and may attract more users who otherwise visited those sites to search the web.

With Sora, the ChatGPT maker is looking to compete with video-generation AI tools from companies such as Meta and Google, which announced Lumiere in January. Similar AI tools are available from other startups, such as Stability AI’s Stable Video Diffusion. Amazon has also released Create with Alexa, a model that specializes in generating prompt-based short-form animated children’s content.

Video could be the next frontier for generative AI now that chatbots and image generators have made their way into the consumer and business world. While the creative opportunities will excite some AI enthusiasts, the new technologies present serious misinformation concerns as major political elections occur across the globe. The number of AI-generated deepfakes created has increased 900% year over year, according to data from Clarity, a machine learning firm.

OpenAI has made multimodality — the combining of text, image and video generation — a prominent goal in its effort to offer a broader suite of AI models.

News of Sora’s release follows protestors’ decision to leak what appeared to be a copy of Sora over concerns about the ChatGPT maker’s treatment of artists.

Some members of OpenAI’s early access program for Sora, which it said included about 300 artists, published an open letter in late November critiquing OpenAI for not being sufficiently open or supporting the arts beyond marketing.

“Dear corporate AI overlords,” the protestors’ open letter stated, “We received access to Sora with the promise to be early testers, red teamers and creative partners. However, we believe instead we are being lured into ‘art washing’ to tell the world that Sora is a useful tool for artists.”

The letter added that hundreds of artists provided unpaid labor for OpenAI through bug testing and feedback on Sora, and that “while hundreds contribute for free, a select few will be chosen through a competition to have their Sora-created films screened — offering minimal compensation which pales in comparison to the substantial PR and marketing value OpenAI receives.”

“We are not against the use of AI technology as a tool for the arts (if we were, we probably wouldn’t have been invited to this program),” the open letter stated. “What we don’t agree with is how this artist program has been rolled out and how the tool is shaping up ahead of a possible public release. We are sharing this to the world in the hopes that OpenAI becomes more open, more artist friendly and supports the arts beyond PR stunts.”

In late November, an OpenAI spokesperson responded to the protestors’ actions in a statement to CNBC.

“Hundreds of artists in our alpha have shaped Sora’s development, helping prioritize new features and safeguards,” the OpenAI spokesperson said at the time. “Participation is voluntary, with no obligation to provide feedback or use the tool. We’ve been excited to offer these artists free access and will continue supporting them through grants, events, and other programs.”

This post appeared first on NBC NEWS

The pieces are coming together for the startup basketball league Unrivaled.

The 3×3 women’s hoops league announced Tuesday that it has signed a multiyear deal for Under Armour to become its official uniform partner and performance outfitter. This follows the league announcing a number of recent big player signings and reaching a media broadcast deal in October with TNT Sports.

Financial terms of the deal were not provided, but Under Armour will provide all players, coaches and staff with performance apparel and accessories both on and off the court.

“We couldn’t be more thrilled to partner with Unrivaled to outfit some of the best women’s basketball players in the world as they compete on this exciting new stage,” said Sean Eggert, Under Armour senior vice president of global sports marketing.

The retailer said that all players who do not have an active shoe deal will have Under Armour basketball footwear options available to them. Additionally, Under Armour will give players the opportunity to create custom products.

Unrivaled will kick off its inaugural season Jan. 17 in Miami. The league has positioned itself as a destination for WNBA stars to play basketball in the U.S. during the offseason.

In the past, many WNBA players have had to go overseas to play in the offseason as a way to supplement the income. Starting salary in the WNBA is $64,154 according to ESPN.

Unrivaled has signed 36 top players by offering attractive financial incentives that include equity. The league said it offers the highest average salaries in women’s professional sports league history. It’s being backed by a number of investors.

This latest deal comes as Baltimore-based Under Armour is in the midst of a turnaround effort after founder Kevin Plank took the helm again this past March. Former Marriott executive Stephanie Linnartz had been in the role for barely a year before she was ousted; she was the second CEO the company had cycled through in less than two years.

Over the past few years, the brand has struggled to keep up with competition and drive full-price sales, relying on promotions and the off-price channel to move its products.

Before she left, Linnartz had been trying to market more to women and improve the product offering, but when Plank retook the helm, he walked that strategy back and said the company would be doubling down on its men’s apparel business. He later announced a turnaround plan that centers on making Under Armour a premium brand and pulling back on discounting so it can improve profits and boost demand.

Last month, the company saw a bright spot when reporting fiscal second-quarter earnings. It lifted its annual profit forecast and Plank said the turnaround is “beginning to gain traction.” Still, the stock is down about 81% from its all-time high on Sept. 17, 2015.

Under Armour’s deal with Unrivaled offers a glimpse into where the company is putting its money and, perhaps, indicates it wants to focus more on female athlete as it looks to capitalize on the hype of women’s sports to reenergize the brand.

Under Armour currently has partnerships with top women’s college programs such as the University of South Carolina, Notre Dame, Maryland and Utah.

“As a brand, we have a long history of investing in women’s basketball, from the grassroots level all the way up to the pros,” Eggert said.

This post appeared first on NBC NEWS

Despite attempts to break higher, Tractor Supply Co. (TSCO) may be setting up for a potential move lower. Recent price action and valuation concerns suggest that TSCO’s upside might be limited in the near term.

In this analysis, we’ll outline the technical signs of weakness, delve into the fundamentals that appear stretched, and review a limited-risk options strategy to capitalize on a bearish outlook. All of this was identified instantly using the OptionsPlay Strategy Center within StockCharts.com, demonstrating how subscribers can uncover similar opportunities instantly.

From a technical standpoint, TSCO has shown troubling signs:

  • Failed Breakout. After initially breaking out above the $290 resistance area in October, TSCO has failed to maintain any meaningful follow-through. Instead, it has slid back into its prior trading range between $265 and $290.
  • Underperformance and Negative Momentum. This inability to hold higher ground has coincided with relative underperformance versus the S&P 500. As the stock struggles to sustain gains, negative price momentum suggests increasing downside risks.

FIGURE 1. DAILY CHART OF TRACTOR SUPPLY CO. The stock is retreating toward its previous trading range between $265 and $290. Tractor Supply is also underperforming the S&P 500, and the MACD indicates momentum is slowing down.Chart source: StockCharts.com. For educational purposes.

Beyond the chart, TSCO’s fundamentals raise questions about its valuation:

  • Modest Growth, High Valuation. With an expected EPS growth of just 7% and revenue growth of 4%, TSCO’s top and bottom line expansion trails its industry peers. Yet the stock trades at a hefty 25x forward earnings multiple.
  • Slim Margins and Rising Debt. A net margin of only 7% offers limited cushion to navigate headwinds, especially as the company’s debt load increases each quarter. Paying a premium multiple for modest growth, narrow margins, and escalating leverage challenges the justification for TSCO’s current valuation.

Recent earnings announcements provide mixed signals. On the positive side, Q3 2024 net sales rose by 1.6%, and gross margin improved by 56 basis points, reflecting some operational efficiencies. The company also reported EPS in line with expectations and pursued strategic acquisitions like Allivet to bolster its pet product segment. However, TSCO faced a slight decline in comparable store sales, a 5.3% decrease in net income, and missed analyst sales estimates. Sluggish discretionary spending and higher expenses have also weighed on performance. Looking forward, TSCO must navigate a delicate balance between growing sales and managing costs—an increasingly challenging task if consumer spending remains tepid.

Options Strategy: Call Vertical Spread

To position for a potential downside, the OptionsPlay Strategy Center suggests selling a Jan 24, 2025 $285/$300 Call Vertical @ $5.70 Credit. This entails:

  • Selling January 24, 2025, $285 Call at $9.70
  • Buying January 24, 2025, $300 Call at $4.03
  • Net Credit: $5.70 per share (or $570 per contract)
  • Maximum Potential Reward: $567
  • Maximum Potential Risk: $933
  • Breakeven Point: $290.70
  • Probability of Profit: 63%

This neutral-to-bearish strategy generates premium income upfront and profits if TSCO remains below $290.70 at expiration (see strategy details below).

FIGURE 2. SELLING A CALL VERTICAL SPREAD IN TRACTOR SUPPLY CO. Here you see the strategy details of selling a Jan 24, 2025 $285/$300 call vertical.Image source: OptionsPlay Strategy Center in StockCharts.com. For educational purposes.

Unlock Real-Time Trade Ideas with OptionsPlay Strategy Center

 The bearish opportunity in TSCO was identified swiftly using the OptionsPlay Strategy Center, which is now available at StockCharts.com. The platform’s Bearish Trend Following scan zeroed in on TSCO as a candidate for downside exposure and even structured the optimal options trade in real-time.

By subscribing to the OptionsPlay Strategy Center, you gain access to:

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FIGURE 3. TRACTOR SUPPLY CO. WAS A CANDIDATE UNDER THE BEARISH TREND FOLLOWING SCAN.Image source: OptionsPlay Strategy Center in StockCharts.com.


Don’t miss out on valuable trading opportunities. Subscribe to the OptionsPlay Strategy Center today and streamline your trading approach. With tools designed to keep you ahead of the market, you can consistently find the best options trades and harness them efficiently every day.

Looking for options trade ideas? In this video, Tony presents some of the best options trading strategies! After discussing special 0DTE strategies, the big picture, and individual sectors and industries, Tony covers bullish and bearish ideas for stocks including NVDA, SHOP, GOOGL, META, CAT and many more.

This video premiered on December 9, 2024.

Lundin Mining (TSX:LUN,OTC Pink:LUNMF) has entered a definitive agreement to sell its Neves-Corvo operation in Portugal and Zinkgruvan operation in Sweden to Boliden (STO:BOL) for up to US$1.52 billion.

The sale, announced by the company on Monday (December 9), will see Boliden acquire full ownership of Somincor, the company operating Neves-Corvo, as well as Zinkgruvan Mining Aktiebolag and its associated entities.

Lundin expects to receive upfront cash consideration of US$1.37 billion at closing, based on financial conditions as of August 31, 2024. Interest will accrue at 5 percent annually until the closing date.

It will also receive up to US$150 million in contingent cash consideration once certain conditions are satisfied.

The contingent payments for the Neves-Corvo operation are linked to copper and zinc prices exceeding US$4.50 per pound and US$1.30 per pound, respectively, between 2025 and 2027.

For Zinkgruvan, the contingent payments are tied to zinc prices surpassing US$1.40 per pound during 2025 and 2026, provided that annual zinc production meets a minimum threshold of 135 million pounds.

Payments are capped at US$25 million annually, with a total maximum of US$50 million. Incremental revenue exceeding these thresholds will result in payments to Lundin capped at US$100 million over the period.

Lundin intends to use the proceeds to strengthen its balance sheet and prioritize its growth in the Vicuña District in South America. The company currently has operations and development projects in Argentina, Brazil, Chile and the US.

“It is an opportune time to optimize our portfolio through this divestiture as we drive towards becoming a top-tier copper-dominant mining company,” said CEO Jack Lundin in a press release.

Neves-Corvo and Zinkgruvan have been significant contributors to Lundin Mining’s growth as a multi-asset base metals producer. According to Lundin, the transition to Boliden will provide continuity for local stakeholders and employees.

Both companies anticipate completing the transaction by mid-2025.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

The Trump administration’s ability to reign in government spending, quash inflation and bolster the economy were the most prevalent topics during the popular economy panel at the New Orleans Investment Conference.

Moderated by Adrian Day, president Adrian Day Asset Management, this year’s discussion featured James Lavish, Jim Bianco, Dr. Mark Skousen, Brent Johnson and James Grant. The expert group began the discussion by debating the potential economic impact Donald Trump could have, highlighting contradictions in his policies.

Johnson, who is CEO of Santiago Capital, pointed out that Trump’s anti-inflation stance conflicts with his push for a weak US dollar and tariffs, which Johnson likened to global rate hikes.

“I would say that Trump’s policies in many ways contradict each other in some way,” he said.

“Sometimes he will say, ‘I want to kill inflation,’ but then he will also say he wants a weak dollar. And then the next sentence, he will say, ‘The greatest word in the world is tariffs,” Johnson explained.

“The reality is, even if he gets his rate cuts, tariffs are basically like a rate hike for the rest of the world, because it’s going to mean less dollars circulating outside the US. And that has tremendous implications for the global economy.”

Skousen, an economist and author, countered Johnson’s stance, asserting that Trump favors a strong dollar.

“Trump is known for ‘king dollar.’ He wants a strong dollar. I don’t know where he got the weak dollar business,” he said. “Make America Great Again is all about making the dollar strong.”

Skousen then took aim at Trump’s proposed 20 percent tariff on imports, saying it isn’t likely pass in Congress.

“Economists across the board have done study after study showing that tariffs are bad long term and short term for the country. Donald Trump was asleep when he took econ at the Wharton School, because he should know better than to push that agenda,” he said.

DOGE Commission and Trump tariff talk

Next up, Grant, a financial journalist and historian, pointed to the redundancy in Trump’s appointments for the Department of Government Efficiency, also referred to as the DOGE Commission.

“If you want to bury an idea in Washington, form a commission,” Grant quipped. “The DOGE Commission, the directive on government efficiency, ladies and gentlemen, has two CEOs.”

He added, “To bring down government spending and to reduce the growth in public debt, President-elect Trump would not have said he would never touch entitlements — but he said that.’

Ultimately Grant believes “the rhetoric is stronger than the intention.”

The panelists also explored potential friction between Trump and the Federal Reserve, speculating on whether Trump will clash with or attempt to dismiss Chair Jerome Powell.

“Let’s talk about the president-elect, Donald Trump, and who is perceived to be the second most powerful person in Washington — that is the Federal Reserve chairman,” said Bianco, president and macro strategist at Bianco Research.

“Trump is not going to reappoint Powell, but Powell knew that he wasn’t going to get reappointed; even if Harris won, she was probably going to appoint (Lael) Brainard to replace him in May of ’26,’ he went on to note.

While Trump is unlikely to reappoint Powell at the end of his term as Fed chair, Bianco does believe Trump is going to make it challenging for Powell to operate.

‘Trump is not, I don’t think, going to fire Powell. I don’t think he wants to have the spectacle,” he said. “He’ll just threaten to fire him every week, and blame everything, including male pattern baldness, on Powell.”

After the laughter from the audience dissipated, Bianco warned that Trump has previously said he would like to be both POTUS and Fed chair — something that has never been done in the country’s history.

Trump’s relationship with the Fed is likely to start on bumpy terms as Powell works to reduce inflation.

“The Fed might be done cutting rates, and Trump wouldn’t be wrong to say, ‘Boy, did that look very political. You were cutting rates before the election like crazy, 50 basis points. Then I (get elected) and you stop?’ That could wind up becoming a narrative early in the Trump administration, his stressed relationship with the Fed chairman.’

Although Trump would like to wield more power over the Fed, during a November 8 press conference, Powell told reporters he won’t resign if Trump asks, nor does the president-elect have the power to fire him.

Lavish, managing partner at the Bitcoin Opportunity Fund, also pointed to Trump’s double speak as a serious problem, heading into the next four years. “Trump speaks in contradictions,” he told the audience, explaining that while Trump talks tough on tariffs, they may be more rhetorical than actionable.

He also noted that Trump’s ‘drill, baby, drill’ stance aims to reduce US energy costs, which would lower inflation — yet his push for a booming stock market and strong economy could fuel inflation instead.

Trump’s pressure on the Fed to maintain easy monetary policy reflects his desire for market highs, despite criticizing Powell. Cutting federal spending significantly seems unlikely, as trimming entitlements or laying off workers would barely dent the budget. Ultimately, Trump’s policies may favor liquidity, potentially keeping inflation elevated.

Black swans vs. white swans

At the end of the discussion Day, gave each panelist 45 seconds to describe what they believe are the potential economic black and white swan events on the horizon.

Skousen said it could be positive or negative if Trump imitates Argentinian President Javier Milei’s economic policies.

“(Milei) is doing a lot of really good things with really trying to reduce government and reduce the national debt, which is a problem and is headed for a crisis,’ he said.

Trump and Milei share a populist, anti-establishment outlook, but their economic policies reflect different approaches. Trump’s strategy emphasizes protectionism, tariffs and ‘America First’ nationalism, contrasting with Milei’s free-market libertarianism, which includes proposals like dollarizing Argentina’s economy and drastically reducing state involvement.

Building on Skousen’s stance, Johnson stressed the importance of Trump being steadfast.

“I think the potential white swan is that most of the success that is attributed to Milei in Argentina is because he has hit the ground running. He hasn’t slowed down,’ he commented.

‘He’s done exactly what he said he would do, and he keeps charging 100 miles an hour. If Trump does something similar, he has a better chance than is currently expected. But if he slows down, then they’ll eat him alive.’

Bianco underscored that the economy is currently at its full potential, driven by fiscal stimulus.

He then cautioned that if the Fed continues to cut interest rates, it could push long-term yields even higher instead of curbing inflation. This might trigger a sudden bond market collapse, reminiscent of the 2019 repo market spike.

“If the Fed wants to continue to cut rates, they’re just going to continue to drive long-term yields higher and higher and higher, because they’re not fighting inflation,” said Bianco.

“And that could very well turn into a black swan event. A white swan event would be the opposite.”

Lavish also warned of potential trouble in the bond market.

“(If) we have some sort of event like you saw in the fall of 2019, where you saw the repo market spike up, whether that happens because of policy error by the Fed or for some other reason, that’s a black swan event,” he said. “The white swan event would be — I don’t know how this would ever happen — but these guys balance the budget.”

For Grant, the black swan would be inflation rising while the Fed cuts rates due to ‘dysfunction in the government bond market.’ That would ‘crystallize fiscal error and underlying inflation, and the Fed’s too-big balance sheet.”

On the other hand, he joked, Powell buying “his first ounce of gold” would be a white swan event.

Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Stock futures are trading slightly lower Monday morning as investors gear up for the final month of 2024. S&P 500 futures slipped 0.18%, alongside declines in Dow Jones Industrial Average futures and Nasdaq 100 futures, which dropped 0.13% and 0.17%, respectively. The market’s focus is shifting to upcoming economic data, particularly reports on manufacturing and construction spending, ahead of this week’s key labor data releases.

November was a standout month for equities, with the S&P 500 futures rallying to reflect the index’s best monthly performance of the year. Both the S&P 500 and Dow Jones Industrial Average achieved all-time highs during Friday’s shortened trading session, with the Dow briefly surpassing 45,000. Small-cap stocks also saw robust gains, with the Russell 2000 index surging over 10% in November, buoyed by optimism around potential tax cuts.

As trading kicks off in December, investors are keeping a close eye on geopolitical developments in Europe, where France’s CAC 40 index dropped 0.77% amid political concerns, while Germany’s DAX and the U.K.’s FTSE 100 showed smaller declines.

S&P 500 futures will likely continue to act as a key barometer for market sentiment, particularly as traders assess the impact of upcoming economic data and global market developments.

S&P 500 Index Chart Analysis

This 15-minute chart of the S&P 500 Index shows a recent trend where the index attempted to break above the resistance level near 6,044.17 but retraced slightly to close at 6,032.39, reflecting a minor decline of 0.03% in the session. The candlestick pattern indicates some indecisiveness after a steady upward momentum seen earlier in the day.

On the RSI (Relative Strength Index) indicator, the value sits at 62.07, having declined from the overbought zone above 70 earlier. This suggests that the bullish momentum might be cooling off, and traders could anticipate a short-term consolidation or slight pullback. However, with RSI above 50, the overall trend remains positive, favoring buyers.

The index’s recent low of 5,944.36 marks a key support level, while the high at 6,044.17 could act as resistance. If the price sustains above the 6,020 level and RSI stabilizes without breaking below 50, the index could attempt another rally. Conversely, a drop below 6,020 could indicate a bearish shift.

In conclusion, the index displays potential for continued gains, but traders should watch RSI levels and price action near the support and resistance zones for confirmation.

The post Stock Futures Lower after S&P 500 futures ticked down 0.18% appeared first on FinanceBrokerage.

Stock futures climbed on Wednesday, driven by strong performances from Salesforce and Marvell Technology, following upbeat quarterly earnings. Futures tied to the Dow Jones Industrial Average rose by 215 points (0.5%), while S&P 500 futures gained 0.3%, and Nasdaq-100 futures advanced by 0.7%.

Salesforce surged 12% after reporting fiscal third-quarter revenue that exceeded expectations, showcasing robust demand in the enterprise software sector. Meanwhile, chipmaker Marvell jumped 14% after surpassing earnings estimates and providing optimistic fourth-quarter guidance, indicating resilience in the semiconductor industry.

This movement follows a mixed session on Wall Street, where the S&P 500 and Nasdaq closed with small gains, while the Dow dipped slightly. The broader market has experienced a modest start to December, contrasting with November’s robust rally, but analysts anticipate a resurgence in momentum. LPL Financial’s George Smith pointed out that December historically sees strong market performance, particularly in the latter half of the month.

However, economic data introduced some caution. ADP’s report revealed that private payrolls grew by just 146,000 in November, missing estimates of 163,000. This signals potential softness in the labor market, with investors now awaiting Friday’s November jobs report for further clarity.

S&P 500 Index Chart Analysis

Based on the provided stock chart, which appears to be a 15-minute candlestick chart for the S&P 500 Index, here’s a brief analysis:

The chart shows a clear upward trend, with higher highs and higher lows indicating bullish momentum over the analyzed period. The index has steadily climbed from a low of approximately 5,855 to a recent high of 6,053.58, suggesting strong buying interest.

Key resistance is observed near 6,050-6,053 levels, as the price has struggled to break above this zone in the most recent sessions. If the index breaches this level with strong volume, it could lead to further upward movement. Conversely, failure to break out may lead to a pullback, with potential support around the 6,000 psychological level and 5,980, where consolidation occurred previously.

The candlestick patterns show relatively small wicks, indicating limited volatility, which could imply steady market confidence. However, the bullish rally could be overextended, warranting caution for traders, especially if any negative catalysts emerge.

In summary, the short-term trend is bullish, but traders should monitor resistance levels and volume for signs of a breakout or reversal. It’s also essential to watch broader market factors, as indices are often influenced by macroeconomic data and sentiment.

The post S&P 500 climbed 0.3%, and Nasdaq-100 futures jumped 0.7% appeared first on FinanceBrokerage.

TikTok in a court filing Monday warned that U.S. small businesses and social media creators would lose $1.3 billion in revenue and earnings in just one month if the popular app is effectively shut down in the United States on Jan. 19, under provisions of a law targeting national security concerns about its China-based parent company.

“Those numbers would only increase if the shutdown extends for more than a month,” said Blake Chandlee, president of global business solutions for TikTok, in that court filing.

Chandlee’s declaration came as his company asked a federal appeals court to temporarily block a law that would require app stores operated by Apple and Google and internet providers to stop supporting TikTok on Jan. 19 unless its parent company ByteDance sells the app.

TikTok and ByteDance plan to ask the Supreme Court to overturn a recent ruling upholding the law, issued by the U.S. Court of Appeals for the District of Columbia Circuit.

“The Supreme Court should have an opportunity, as the only court with appellate jurisdiction over this action, to decide whether to review this exceptionally important case,” TikTok and ByteDance said in the filing, seeking a temporary injunction.

The injunction, if granted, would allow the app to continue operating until the Supreme Court decides whether to hear the appeal.

The filing also argued that “an injunction is especially appropriate” because it will give the incoming administration of President-elect Donald Trump, who will be sworn in on Jan. 20, the opportunity to decide if it wants to enforce the law.

If TikTok is effectively shut down in the United States in January, Chandlee wrote, American small businesses alone would lose more than $1 billion in revenue — even if the prohibitions are lifted after only a month.

“Almost two million creators in the United States would suffer almost $300 million in lost earnings, and TikTok itself would lose 29% of our targeted global advertising revenue for 2025,” Chandlee wrote.

He said that as of November, more than 7 million U.S. accounts use TikTok to do business.

And “69% of these businesses say that using TikTok has led to increased sales for their businesses in the last year, and 39% say that access to TikTok is critical to their business’s existence,” he said, citing an economic impact report prepared for the company by Oxford Economics.

Chandlee also said in the filing that those businesses’ advertising, marketing and “organic reach on TikTok” contributed $24.2 billion to U.S. gross domestic product in 2023, with TikTok’s own operations adding another $8.5 billion to U.S. GDP.

The law TikTok wants blocked for now was passed by Congress and signed by President Joe Biden last spring after concerns about ByteDance’s alleged connections to the Chinese government.

In its unanimous ruling Friday, a three-judge panel on the appeals court in the District of Columbia rejected ByteDance’s argument that the ban would violate the First Amendment rights of 170 million U.S. users of the app, or other parts of the Constitution.

The panel, in its written opinion, said that the U.S. government “offered persuasive evidence demonstrating that” the divestment law “is narrowly tailored to protect national security,” and noted that TikTok “never squarely denies that it has ever manipulated content at the direction of the” People’s Republic of China.

This post appeared first on NBC NEWS