On Sunday, Citigroup, Inc. (NYSE:C), along with American Airlines Group, Inc. (NASDAQ:AAL) and Mastercard (NYSE:MA), unveiled a new mid-tier travel rewards credit card, Citi/AAdvantage Globe Mastercard.

The new card expands the Citi/AAdvantage lineup, completing the range of co-branded travel credit cards offered under the partnership.

The card is designed for travelers who fall between casual vacationers and frequent flyers categories.

The card provides access to premium travel benefits, including four 24-hour Admirals Club Globe passes, expanded opportunities to earn AAdvantage miles and Loyalty Points, and an exclusive Flight Streak bonus.

Also Read: JPMorgan Analyst Favors Visa Over Mastercard: Here’s Why

Cardmembers can unlock more than $750 worth of travel and lifestyle rewards each year for an annual fee of $350.

Management Commentary

Scott Long, American’s Senior Vice President of AAdvantage said, “It’s built for the travelers who want more from every mile—with elevated benefits, faster path to status and powerful earning potential.”

Pam Habner, Citi’s Head of U.S. Branded Cards and Lending added, “The launch of the Citi / AAdvantage Globe Mastercard is our first new co-branded credit card following the expansion of our partnership, marking a new chapter of innovation in our 38-year legacy,”

Recent Earnings

Last week, Citigroup had posted a third-quarter revenue of $22.09 billion, up 9% year over year and comfortably ahead of expectations, as strong performances across Markets, U.S. Personal Banking, and Investment Banking lifted results.

Investors can gain exposure to the Citigroup stock via First Trust Nasdaq Bank ETF (NASDAQ:FTXO) and T. Rowe Price Financials ETF (NASDAQ:TFNS)

Price Action: C shares are up 0.58% at $97.44 premarket at the last check on Monday.

Read Next:

• Steve Eisman Dismisses 2008 Comparisons After Bank Earnings: ‘Only Marginal’ Credit Deterioration So Far, Not Enough To Raise Alarm Bells

Image via Shutterstock

Apple Inc.’s (NASDAQ:AAPL) iPhone 17 series outsold the iPhone 16 lineup by 14% in the first 10 days of sales across China and the U.S., Apple’s two largest markets, according to Counterpoint Research’s China and U.S. third-quarter 2025 Smartphone Sell-Out Tracker.

The base iPhone 17 has driven demand in China as consumers responded positively to its strong value proposition, featuring a faster chip, better display, larger storage, and upgraded selfie camera at the same price as the iPhone 16.

The base model has driven strong sales, with overall sell-outs up nearly 33%. In China, consumer demand for the base model has nearly doubled compared to the iPhone 16.

Also Read: Apple iPhone 17 Pro, Pro Max Ship Times Stay Stable Globally: Analyst

In the U.S., the iPhone 17 Pro Max saw the fastest demand surge as major carriers raised device subsidies by 10% to target ultra-premium buyers through long-term financing plans, boosting Apple’s ecosystem loyalty.

Meanwhile, the eSIM-only iPhone Air slightly outperformed the iPhone 16 Plus. Apple opened pre-orders for the Air in China on October 17, a key step for eSIM adoption in the region, though its higher price and shorter pre-order window could limit its initial appeal.

Apple shares climbed on Monday, marking nearly a 7% gain over the past 12 months.

Analyst Commentary

Analysts have highlighted that Apple is gaining momentum from the strong demand for the iPhone 17. However, they felt investors may need to wait until results from the September and December quarters to gauge the full impact.

Gene Munster, managing partner at Deepwater Asset Management, said that the global iPhone’s 17 lead times indicate steady consumer demand. Three weeks after release, average wait times across eight countries were 2.29 weeks — about 13% longer than the iPhone 16’s 2.02 weeks.

Munster expects a slight miss in Apple’s fourth-quarter iPhone sales due to limited contribution from the new model, but anticipates substantial upside in fiscal 2026.

He also projects iPhone revenue to rise over 8% in fiscal 2026, exceeding Wall Street’s 5% consensus. He expects Apple’s guidance for the December quarter to “come in ahead of both the published estimates and the whisper number.”

JPMorgan on Robust Upgrade Cycle

Apple is riding strong demand for its iPhone 17 Series, fueled by loyal users upgrading to premium models and expanding traction in China, according to JPMorgan.

Analyst Samik Chatterjee said JPMorgan’s latest consumer survey points to a robust upgrade cycle led by existing iPhone owners, even as interest from Android users softens compared with last year.

Performance, design, and camera improvements remain the top drivers of upgrades, while AI features ranked lower in purchase motivation, Chatterjee noted.

Price Action: Apple shares were trading higher by 1.81% to $256.85 premarket at last check Monday.

Read Next:

• ASML Q3 Earnings Beat On Strong EUV Demand, AI Boosts Growth

Photo by Azulblue via Shutterstock

Apple Inc.’s (NASDAQ:AAPL) iPhone 17 series outsold the iPhone 16 lineup by 14% in the first 10 days of sales across China and the U.S., Apple’s two largest markets, according to Counterpoint Research’s China and U.S. third-quarter 2025 Smartphone Sell-Out Tracker.

The base iPhone 17 has driven demand in China as consumers responded positively to its strong value proposition, featuring a faster chip, better display, larger storage, and upgraded selfie camera at the same price as the iPhone 16.

The base model has driven strong sales, with overall sell-outs up nearly 33%. In China, consumer demand for the base model has nearly doubled compared to the iPhone 16.

Also Read: Apple iPhone 17 Pro, Pro Max Ship Times Stay Stable Globally: Analyst

In the U.S., the iPhone 17 Pro Max saw the fastest demand surge as major carriers raised device subsidies by 10% to target ultra-premium buyers through long-term financing plans, boosting Apple’s ecosystem loyalty.

Meanwhile, the eSIM-only iPhone Air slightly outperformed the iPhone 16 Plus. Apple opened pre-orders for the Air in China on October 17, a key step for eSIM adoption in the region, though its higher price and shorter pre-order window could limit its initial appeal.

Apple shares climbed on Monday, marking nearly a 7% gain over the past 12 months.

Analyst Commentary

Analysts have highlighted that Apple is gaining momentum from the strong demand for the iPhone 17. However, they felt investors may need to wait until results from the September and December quarters to gauge the full impact.

Gene Munster, managing partner at Deepwater Asset Management, said that the global iPhone’s 17 lead times indicate steady consumer demand. Three weeks after release, average wait times across eight countries were 2.29 weeks — about 13% longer than the iPhone 16’s 2.02 weeks.

Munster expects a slight miss in Apple’s fourth-quarter iPhone sales due to limited contribution from the new model, but anticipates substantial upside in fiscal 2026.

He also projects iPhone revenue to rise over 8% in fiscal 2026, exceeding Wall Street’s 5% consensus. He expects Apple’s guidance for the December quarter to “come in ahead of both the published estimates and the whisper number.”

JPMorgan on Robust Upgrade Cycle

Apple is riding strong demand for its iPhone 17 Series, fueled by loyal users upgrading to premium models and expanding traction in China, according to JPMorgan.

Analyst Samik Chatterjee said JPMorgan’s latest consumer survey points to a robust upgrade cycle led by existing iPhone owners, even as interest from Android users softens compared with last year.

Performance, design, and camera improvements remain the top drivers of upgrades, while AI features ranked lower in purchase motivation, Chatterjee noted.

Price Action: Apple shares were trading higher by 1.81% to $256.85 premarket at last check Monday.

Read Next:

• ASML Q3 Earnings Beat On Strong EUV Demand, AI Boosts Growth

Photo by Azulblue via Shutterstock

Cleveland-Cliffs Inc. (NYSE:CLF) shares are trading higher premarket on Monday after the company reported third-quarter 2025 results.

The steelmaker reported an adjusted loss of 45 cents per share, beating analysts’ expectations for a 48-cent loss.

Revenue totaled $4.73 billion, missing the consensus estimate of $4.90 billion but up from $4.57 billion in the same quarter last year.

Also Read: Cleveland-Cliffs Q3 Preview: Will Trump Get Praised By Company For Tariffs Again?

Revenue was spread across automotive (30%), infrastructure and manufacturing (29%), distributors and converters (28%), and steel producers (13%). Liquidity stood at $3.1 billion as of September 30, 2025.

Steelmaking revenue rose to $4.6 billion from $4.4 billion a year ago.

Adjusted EBITDA came in at $143 million versus $122 million in the year-ago quarter.

Key Metrics

Steel shipments stood at 4.0 million net tons, up from 3.8 million in the third quarter of 2024.

The average selling price fell slightly year-over-year to $1,032/ton from $1,045/ton in the same quarter a year ago.

Product mix was led by hot-rolled (37%), coated (29%), cold-rolled (15%), and plate (6%) products, with the remainder split between stainless/electrical and other products such as slabs and rail.

Management Commentary

Cliffs’ Chairman, President and CEO, Lourenco Goncalves, said, “Our third quarter results marked a clear sign of demand recovery for automotive-grade steel made in the USA, and that is a direct consequence of the new trade environment implemented and enforced by the Trump Administration.”

“As a result of this new trade environment, we have won new and growing supply arrangements with all major automotive OEMs, locking in multi-year agreements that reflect the reliability of our well-established supply chains anchored by our nine galvanizing plants dedicated to automotive-grade steels, with five of these plants specialized in exposed parts.”

“This past quarter, we entered into a Memorandum of Understanding with a major global steel producer, which seeks to leverage our unmatched U.S. footprint and trade-compliant operations. We expect the ultimate outcome of this MoU to be highly accretive to our shareholders.”

Outlook

Cleveland-Cliffs expects steel unit costs in 2025 to decline by about $50 per net ton compared to 2024, adjusted for higher automotive shipping volumes.

CLF updated its full-year 2025 outlook, with capital expenditures now expected to be around $525 million, down from the earlier forecast of $600 million.

Also, the company projects selling, general, and administrative expenses at around $550 million, versus the previous estimate of $575 million.

The third quarter performance was characterized by a richer sales mix and improved pricing, which contributed significantly to revenue and margin expansion. These factors were further supported by the company’s continued successful execution on cost management.

The positive trend established is anticipated to accelerate into 2026. This expected acceleration is directly tied to the forthcoming expiration of the slab supply contract to ArcelorMittal, which is scheduled to conclude in early December.

Price Action: Cleveland-Cliffs shares were up 10.81% at $14.76 during premarket trading on Monday. The stock is trading at a new 52-week high, according to Benzinga Pro data.

Read Next:

• Stock Market Today: S&P 500, Nasdaq, Dow Jones Futures Rise— Micron, Bitmine, Coinbase In Focus

Photo by JHVEPhoto via Shutterstock

Cleveland-Cliffs Inc. (NYSE:CLF) shares are trading higher premarket on Monday after the company reported third-quarter 2025 results.

The steelmaker reported an adjusted loss of 45 cents per share, beating analysts’ expectations for a 48-cent loss.

Revenue totaled $4.73 billion, missing the consensus estimate of $4.90 billion but up from $4.57 billion in the same quarter last year.

Also Read: Cleveland-Cliffs Q3 Preview: Will Trump Get Praised By Company For Tariffs Again?

Revenue was spread across automotive (30%), infrastructure and manufacturing (29%), distributors and converters (28%), and steel producers (13%). Liquidity stood at $3.1 billion as of September 30, 2025.

Steelmaking revenue rose to $4.6 billion from $4.4 billion a year ago.

Adjusted EBITDA came in at $143 million versus $122 million in the year-ago quarter.

Key Metrics

Steel shipments stood at 4.0 million net tons, up from 3.8 million in the third quarter of 2024.

The average selling price fell slightly year-over-year to $1,032/ton from $1,045/ton in the same quarter a year ago.

Product mix was led by hot-rolled (37%), coated (29%), cold-rolled (15%), and plate (6%) products, with the remainder split between stainless/electrical and other products such as slabs and rail.

Management Commentary

Cliffs’ Chairman, President and CEO, Lourenco Goncalves, said, “Our third quarter results marked a clear sign of demand recovery for automotive-grade steel made in the USA, and that is a direct consequence of the new trade environment implemented and enforced by the Trump Administration.”

“As a result of this new trade environment, we have won new and growing supply arrangements with all major automotive OEMs, locking in multi-year agreements that reflect the reliability of our well-established supply chains anchored by our nine galvanizing plants dedicated to automotive-grade steels, with five of these plants specialized in exposed parts.”

“This past quarter, we entered into a Memorandum of Understanding with a major global steel producer, which seeks to leverage our unmatched U.S. footprint and trade-compliant operations. We expect the ultimate outcome of this MoU to be highly accretive to our shareholders.”

Outlook

Cleveland-Cliffs expects steel unit costs in 2025 to decline by about $50 per net ton compared to 2024, adjusted for higher automotive shipping volumes.

CLF updated its full-year 2025 outlook, with capital expenditures now expected to be around $525 million, down from the earlier forecast of $600 million.

Also, the company projects selling, general, and administrative expenses at around $550 million, versus the previous estimate of $575 million.

The third quarter performance was characterized by a richer sales mix and improved pricing, which contributed significantly to revenue and margin expansion. These factors were further supported by the company’s continued successful execution on cost management.

The positive trend established is anticipated to accelerate into 2026. This expected acceleration is directly tied to the forthcoming expiration of the slab supply contract to ArcelorMittal, which is scheduled to conclude in early December.

Price Action: Cleveland-Cliffs shares were up 10.81% at $14.76 during premarket trading on Monday. The stock is trading at a new 52-week high, according to Benzinga Pro data.

Read Next:

• Stock Market Today: S&P 500, Nasdaq, Dow Jones Futures Rise— Micron, Bitmine, Coinbase In Focus

Photo by JHVEPhoto via Shutterstock

IonQ, Inc. (NYSE:IONQ) stock rose on Monday after the company announced its participation as a founding member of Q-Alliance.

Q-Alliance is a new initiative aimed at developing a premier quantum computing hub in Lombardy, Italy.

As a founding member of Q-Alliance, IonQ will bring its expertise in gate-based, universal quantum computing along with its exclusive strengths in quantum networking, security, and sensing.

Also Read: From Tesla And Nvidia To Rigetti And IonQ: Single-Stock ETFs Chase The Next Big Tech Boom

The initiative will develop infrastructure to foster research, innovation, and commercialization of quantum technologies across sectors, including pharmaceuticals, materials science, logistics, and financial services.

Established in support of Italy’s National Strategy for Quantum Technologies, the Q-Alliance unites public and private organizations to advance a cutting-edge quantum innovation ecosystem.

Management Commentary

Niccolo de Masi, Chairman and CEO of IonQ, said, “Through this landmark quantum collaboration, we intend to create quantum applications that can accelerate every segment of Italy’s major industries – from defense to agriculture, automotive to healthcare.”

“All areas of the Italian economy will benefit by leveraging IonQ’s industry-leading quantum computing, quantum networking, and quantum sensing solutions.”

Recent Key Events

Last week, the company’s stock got a boost after it achieved a major step forward in quantum chemistry simulations, demonstrating accurate atomic-level force calculations using its quantum-classical auxiliary-field quantum Monte Carlo (QC-AFQMC) algorithm.

Investors can gain exposure to IONQ via WisdomTree Quantum Computing Fund (BATS:WQTM) and REX AI Equity Premium Income ETF (NASDAQ:AIPI).

Price Action: IONQ shares were trading higher by 4.17% to $65.57 premarket at last check Monday.

Read Next:

• IonQ, Tempus AI And AeroVironment Are Among Top 10 Large Cap Losers Last Week (Oct. 13-Oct. 17): Are the Others in Your Portfolio?

Image via Shutterstock

IonQ, Inc. (NYSE:IONQ) stock rose on Monday after the company announced its participation as a founding member of Q-Alliance.

Q-Alliance is a new initiative aimed at developing a premier quantum computing hub in Lombardy, Italy.

As a founding member of Q-Alliance, IonQ will bring its expertise in gate-based, universal quantum computing along with its exclusive strengths in quantum networking, security, and sensing.

Also Read: From Tesla And Nvidia To Rigetti And IonQ: Single-Stock ETFs Chase The Next Big Tech Boom

The initiative will develop infrastructure to foster research, innovation, and commercialization of quantum technologies across sectors, including pharmaceuticals, materials science, logistics, and financial services.

Established in support of Italy’s National Strategy for Quantum Technologies, the Q-Alliance unites public and private organizations to advance a cutting-edge quantum innovation ecosystem.

Management Commentary

Niccolo de Masi, Chairman and CEO of IonQ, said, “Through this landmark quantum collaboration, we intend to create quantum applications that can accelerate every segment of Italy’s major industries – from defense to agriculture, automotive to healthcare.”

“All areas of the Italian economy will benefit by leveraging IonQ’s industry-leading quantum computing, quantum networking, and quantum sensing solutions.”

Recent Key Events

Last week, the company’s stock got a boost after it achieved a major step forward in quantum chemistry simulations, demonstrating accurate atomic-level force calculations using its quantum-classical auxiliary-field quantum Monte Carlo (QC-AFQMC) algorithm.

Investors can gain exposure to IONQ via WisdomTree Quantum Computing Fund (BATS:WQTM) and REX AI Equity Premium Income ETF (NASDAQ:AIPI).

Price Action: IONQ shares were trading higher by 4.17% to $65.57 premarket at last check Monday.

Read Next:

• IonQ, Tempus AI And AeroVironment Are Among Top 10 Large Cap Losers Last Week (Oct. 13-Oct. 17): Are the Others in Your Portfolio?

Image via Shutterstock

Gainers

Symbol	Name	Price	Change ($)	Change (%)	Volume
(NYSE:XLK)	SPDR Select Sector Fund – Technology	287.04	2.03	0.71	44.8K
(NYSE:XLY)	SPDR Select Sector Fund – Consumer Discretionary	235.66	1.24	0.52	2.5K
(NYSE:XLB)	Materials Select Sector SPDR	88.33	0.45	0.51	702
(NYSE:XLF)	SPDR Select Sector Fund – Financial	52.45	0.27	0.51	174.9K
(NYSE:XLI)	SPDR Select Sector Fund – Industrial	152.45	0.72	0.47	1.1K
(NYSE:XLU)	SPDR Select Sector Fund – Utilities	91.99	0.42	0.45	9.7K
(NYSE:XLRE)	Real Estate Select Sector SPDR Fund (The)	42.10	0.06	0.14	731
(NYSE:XLV)	SPDR Select Sector Fund – Health Care	143.41	0.14	0.09	9.5K
(NYSE:XLE)	SPDR Select Sector Fund – Energy Select Sector	86.02	0.04	0.04	38.1K

Losers

Symbol	Name	Price	Change ($)	Change (%)	Volume
(NYSE:XLP)	SPDR Select Sector Fund – Consumer Staples	79.7	-0.03	-0.04	13.0K

Pulled from Benzinga Pro data the above sector movers alert assists traders in understanding macro-level trends and market variations. Traders will look for sector movers providing information on sectors that are over- or under-performing, deriving these results into investing decisions on exchange-traded funds (ETFs) or individual tickers in those sectors.

For more information on sector movers, click here.

China’s economy has slowed down significantly in the latest quarter, amid the tensions and uncertainties surrounding the tariffs imposed on the nation by President Donald Trump.

China’s Growth Slows Amid Tariffs

The world’s second-largest economy grew at its slowest annual pace in a year, with its third-quarter GDP growth, for the months between July and September, coming in at 4.8%. This is down from 5.2% the prior quarter amid escalating trade tensions and slacking domestic demand, according to a report by APNews.

See Also: Scott Bessent’s ‘Constructive’ Call Sets Up US–China Negotiations

Despite this, the nation’s exports have held strong, as Chinese companies have begun moving their sales to other global markets.

US Stock Futures Inch Higher, Asian Markets In The Green

Hong Kong’s Hang Seng index is up 2.47% on Monday, trading at 25,870.32, while the mainland’s CSI 300 Index is up 0.80%, at 4,550.33. The Shanghai Composite index is up 0.69% on the news, trading at 3,866.09.

The S&P 500 futures are up 0.23% or 15.25 points at 6,717.75, Nasdaq futures are up 79.25 points, or 0.32%, trading at 25,065.25, followed by Dow Futures, up 0.17%, or 77 points at 46,460.00.

Meanwhile, Japan’s Nikkei 225 is up 2.52% on Monday morning trade, at 48,970.40, with electrical, manufacturing and export-oriented stocks leading the rally.

Gold, US Dollar Head Higher

The U.S. Dollar Index (DXY) is largely flat, trading up 0.02% on Monday, and is up 1.15% over the past month, despite the escalating trade tensions between the U.S. and China.

Gold’s spot price is up 0.05%, trading at $4,256 an ounce, down from its all-time high of $4,379.60 an ounce, which it hit last week.

Read More:

• AI Stocks Contribute $5 Trillion To US Household Wealth, JPMorgan Reveals

Photo Courtesy: Matteo Benegiamo on Shutterstock.com

Steel producer Cleveland-Cliffs Inc (NYSE:CLF) could highlight how tariffs helped the American manufacturing sector when the company reports third-quarter financial results before market open on Monday, Oct. 20.

• See how CLF stock is doing here.

Earnings Estimates: Analysts expect Cleveland-Cliffs to report third-quarter revenue of $4.90 billion, up from $4.57 billion in last year’s third quarter, according to data from Benzinga Pro.

The company beat analyst estimates for revenue in the second quarter, but has missed estimates in six of the past seven quarters.

Analysts expect Cleveland-Cliffs to report a loss of 48 cents per share in the third quarter, compared to a loss of 33 cents per share in last year’s third quarter.

The company beat analyst estimates for earnings per share in the second quarter, but has missed analyst estimates in three of the last four quarters and in seven of the past 10 quarters overall.

Read Also: Looking At Cleveland-Cliffs’s Recent Unusual Options Activity

Key Items to Watch: Several analysts have raised their price targets on the steel company ahead of earnings, which could be related to the company’s strong outlook after second-quarter results and management commentary on tariffs.

Here are some recent analyst ratings on Cleveland-Cliffs and their price targets:

• JPMorgan: Maintained Neutral rating, raised price target from $10 to $13
• Goldman Sachs: Maintained Buy rating, raised price target from $12.85 to $14.50
• Bank of America Securities: Maintained Neutral rating, raised price target from $9.50 to $12.50
• Wells Fargo: Maintained Equal-Weight rating, raised price target from $10 to $11

Cleveland-Cliffs reported record steel shipments in the second quarter and highlighted that recent operational efforts were paying off with cost reductions.

CEO Lourenco Goncalves said the company’s order book was healthy during the second-quarter financial results, while also providing some thanks to President Donald Trump for the positive impact tariffs were having on the company.

“Cliffs is a major supplier of steel to the automotive manufacturers, and the Trump Administration continues to show strong support to both the domestic steel and the domestic automotive sectors,” Goncalves said.

The Cleveland-Cliffs CEO said tariffs were having a positive impact on U.S. manufacturing and the country’s steel industry with the company to benefit as a domestic company providing steel to many sectors.

Goncalves said foreign competitors in the steel sector would need to establish a presence in the U.S. to have access to sectors and avoid tariffs.

While some companies are seeing negative impacts from tariffs, Cleveland-Cliffs is one of the few examples of companies thanking the Trump administration and showing how the tariffs could help revenue growth.

Analysts and investors will be watching third-quarter results to see if tariffs helped results and if management remains bullish going forward.

CLF Price Action: Cleveland-Cliffs stock closed Friday down 1.77% to $13.32 versus a 52-week trading range of $5.63 to $14.51. Shares are up 39.6% year-to-date in 2025.

Read Next:

• EXCLUSIVE: Tariff Titans – Why Cleveland-Cliffs, Nucor, Steel Dynamics Could Outmuscle The Competition

Photo: Piotr Swat via Shutterstock