Tech stocks climbed to new highs early Wednesday, with the Nasdaq 100 briefly touching 22,329 points after the opening bell, surpassing its previous <a href="https://www.benzinga.com/markets/tech/25/06/46096528/nasdaq-100-record-highs-rally-historical-performance">peak from February 19.</a> 



Yet, by midday trading, the rally lost steam, with major indices giving back early gains. By 12:30 p.m. ET, the Nasdaq 100 was trading at 22,234, up 0.2% on the day. Other large-cap benchmarks hovered near the flatline, while the Russell 2000 fell 0.7%, reflecting weakness in small-cap names.



At a NATO meeting in the Netherlands, President Donald Trump said that a ceasefire between Israel and Iran remains in place and that the United States will continue exerting pressure on Tehran. He clarified that while sanctions remain, Iran is currently allowed to sell oil to China.



Trump also renewed his call for NATO allies to raise their defense spending to 5% of GDP, more than double the current 2% guideline, arguing that Europe must carry a larger share of the military burden.



In day two of his testimony before Congress, Federal Reserve Chair Jerome Powell said that evolving trade conditions could influence monetary policy decisions, suggesting that future trade agreements might create room for interest rate cuts—though no timing was provided.



Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) led chipmaker gains, rising 3.1% and reaching its highest level since early December 2024. The stock is tracking toward its strongest monthly performance since May 2023.



The broader chip sector is also rallying. The iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) is up 15% month-to-date, on track for its best monthly return since November 2023.



Bond markets were steady, with the 10-year Treasury yield holding at 4.31%, showing little reaction to Powell's testimony or geopolitical headlines.



In commodities, oil prices rebounded 2% to $66 per barrel, after falling more than 12% over the previous two sessions. In industry news, Shell plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>) is reportedly in early-stage talks to acquire rival BP plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>), though no formal offer has been made yet.



Gold was unchanged at $3,328 per ounce, while silver gained 0.5% to $36.



In crypto markets, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) advanced 1.2%, trading just above $107,000. 



<h3 class="wp-block-heading">Wednesday&#8217;s Performance In Major US Indices, ETFs</h3>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Major Indices</td><td>Price</td><td>1-day %chg</td></tr><tr><td>Nasdaq 100</td><td>22,234.43</td><td>0.2%</td></tr><tr><td>S&amp;P 500</td><td>6,097.13</td><td>0.1%</td></tr><tr><td>Dow Jones</td><td>43,038.39</td><td>-0.1%</td></tr><tr><td>Russell 2000</td><td>2,145.84</td><td>-0.7%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 12:30 p.m. ET</figcaption></figure>



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



<ul class="wp-block-list">
<li>The&nbsp;Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) flattened at $559.54.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) inched 0.2% lower to $429.91.</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>)&nbsp;edged 0.2% up to $540.48.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.7% to $212.93.</li>



<li>The&nbsp;Technology&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, up 0.6%; the&nbsp;Real Estate&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) lagged, down 1.2%.</li>
</ul>



<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>



<ul class="wp-block-list">
<li>FedEx Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) fell 2% despite beating earnings estimates as the outlook was less optimistic than expected. </li>



<li>Other stocks reacting to earnings included Paychex Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>), down 9%, and General Mills Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>), down 3.7%. </li>



<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) tumbled 4.5% after new car sales recorded a 27% year-over-year decline in Europe. </li>



<li>Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), the 2025&#8217;s top-performing chipmaker company as of late June, will report earnings after the close. </li>
</ul>



Read now:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/06/46099022/best-ai-stocks-nvidia-semiconductors-top-performers">The AI Rally Just Flipped—These Stocks Are Now Outgunning Nvidia </a></li>
</ul>



Photo: Shutterstock

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Broad U.S. Equity ETFs

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XLRE

Tech Stocks Notch New Highs As Chipmakers Power The Rally: What's Driving Markets Wednesday?

Goldman Sachs analyst Mark Delaney <a target="_blank" href="https://www.benzinga.com/quote/TSLA/analyst-ratings" rel="noreferrer noopener">maintained a Neutral</a> on Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) with a price forecast of $285 on Wednesday.



Delaney stated that Tesla began robotaxi operations on June 22 in Austin, Texas, for a small group of early access individuals.



The analyst recalled that Tesla had said the initial fleet would likely consist of 10-20 Model Y vehicles.



Also Read: <a target="_blank" href="https://www.benzinga.com/trading-ideas/movers/25/06/45868546/why-is-tesla-stock-trading-higher-on-tuesday" rel="noreferrer noopener">Tesla Stock Rises After Austin DMV Recognizes Company as Official Operator of Autonomous Vehicles</a>



Based on available data on Tesla&#8217;s robotaxi launch from news reports and the social media platform X, Delaney&#8217;s initial view is that the launch is both a sign of Tesla&#8217;s progress with its FSD technology and a sign that scaling in the near term will be slow.



The analyst discussed his views on three key items from the launch and their valuation or stock implications.



Delaney&#8217;s initial thoughts on the early rides&#8217; performance generally show a good degree of drive smoothness. Still, one user posted a navigation issue with improper use of a left turn lane. He considered this navigation error somewhat concerning, especially considering the limited number of vehicles on the road.



The analyst also discussed how Tesla&#8217;s Austin service currently compares to Alphabet Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Waymo, including the operating area. He writes that the areas and conditions in which the Tesla Robotaxi can operate are currently more limited relative to Waymo. Waymo currently operates 24/7 in ~37 sq miles of Austin, whereas Tesla is limited to 6 a.m. to midnight and in a smaller area of Austin.



Additionally, Delaney mentioned that the Tesla Robotaxi service is only available to a select group of early-access users, while Waymo is available to all users on the Uber app.



On pricing, Tesla is currently charging a flat fee of $4.20 for its rides, while Waymo (operating through the Uber app) is charged like a traditional Uber ride (with pricing shown at the time of booking).&nbsp;&nbsp;



Delaney noted that the use of an Austin-specific tech stack, a Tesla employee present in the vehicle, and the navigation issue suggested scaling will be slow, implying a delay in the availability of FSD on personal vehicles in a wide operating area.



Separately, the regulatory environment will be key to monitor and could determine the speed of the ramp as well, he said. However, according to the analyst, new federal rules could help speed up AV adoption.&nbsp;&nbsp;



Delaney remarked that the commercial launch was a step toward Tesla addressing the AV rideshare market (he estimated the demand for AV rideshare in 2030 in the U.S. would be about $7 billion).



Delaney projects fiscal 2025 revenue of $89.5 billion and EPS of $1.10.



Price Action:&nbsp;TSLA stock was down 4.06% at $326.65 at the last check Wednesday.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/analyst-ratings/price-target/25/04/44850615/teslas-future-growth-from-robotaxis-and-new-products-intact-despite-q1-miss-analyst" target="_blank" rel="noreferrer noopener">Tesla&#8217;s Future Growth From Robotaxis And New Products Intact Despite Q1 Miss: Analyst</a></li>
</ul>



Photo by Josiah True via Shutterstock

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GOOGL

Tesla Robotaxi Scaling Growth Will Be Slow In Near Term: Goldman Sachs

It's already been an eventful week for U.S. markets, with tensions in the Middle East bubbling and then calming down following a <a href="https://www.benzinga.com/news/politics/25/06/46042703/iran-calls-us-bombing-of-nuclear-sites-very-very-dangerous-for-everybody">weekend of bombardment.</a> But despite the uncertainty regarding a potential ceasefire, the stock and commodities markets shrugged it off with the NASDAQ 100 finally notching a new all-time high and oil prices dipping back under $66 per barrel.



Markets are not out of the woods yet, as consumer sentiment continues to be shaky and the Fed remains on hold awaiting more economic data on the impact of tariffs. But the trend toward new all-time highs appears strong and retail traders are back to being bullish.



<h2 class="wp-block-heading">July 4th Sale: Save Up To $1,200 On Benzinga Pro</h2>



Your current setup is costing you money, whether it's free or expensive. Scattered tools mean missed opportunities. Consolidate everything into one powerful platform that actually works together. Stop missing opportunities. Sign up <a href="https://www.benzinga.com/pro/register/4th-of-july-sale/?utm_campaign=bzpro-4th&amp;el=ResearchDaily&amp;he={{email}}&amp;adt_ei={{email}}&amp;utm_adType=SponsorAd&amp;utm_ad=RD062625">HERE</a> for Benzinga Pro at 60% off. 



Each of the five stocks rates highly on Benzinga Edge's Value Score rankings and exhibits technical signals indicating that momentum shifts may be brewing beneath the surface.



<h2 class="wp-block-heading">Costamare Inc.&nbsp;</h2>



Benzinga Edge Value Score: 98.04



Bulk shippers like Costamare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMRE#NYSE">CMRE</a>) have been caught in the Trump administration's tariff tug-of-war, but the decline has been so steep that the stock now appears undervalued. Despite a Q1 2025 earnings beat on both EPS and revenue, CMRE trades at just 3.7 times earnings and 0.5 times sales, and the dividend now yields over 5%.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXepogNA3oub0pkCTAE-Z1tJik259Dyf1zUxOYl00I0O1bb-228WkeiN_0bLeOw-H58rgG6TCAGG648vqj8Vbhxk-BLL23pBWuZ2A1gjIy6pLmgml2JBiLIoJ1dimfcwCPqqFeotng?key=hP5zZ9dGchmBHAd5CwfA1Q" alt=""/></figure>



CMRE spent most of the last 12 months in a prolonged downtrend. The stock peaked at $12.75 in June 2024 before dropping nearly 50%, with frequent false signals when the Relative Strength Index (RSI) tripped the Oversold alarm.&nbsp; But the stock rallied after the market bottom that followed Trump's reciprocal tariff announcement, gaining 10% and finally breaking through the long-term resistance level that had been in place for nearly a year. The RSI anticipated the breakout and actually triggered an Overbought signal twice in May and June, but now that it's back below 70, the new uptrend can continue.



<h2 class="wp-block-heading">Peabody Energy Corp.&nbsp;</h2>



Benzinga Edge Value Score: 98.08



Coal miners have also struggled in 2025 despite reassurances from the Trump administration. Small caps like Peabody (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTU#NYSE">BTU</a>) ($1.54 billion market cap) have been trending downward since Election Day. But BTU now trades at just 5 times forward earnings and 0.4 times sales, but its terrible start to 2025 (down 40% year-to-date) could be about to change. 



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfX88YZ1zVqX8S0ODVvGaIsbqlVMPbJVvQwyRuFdNFUxuE1_GwHNMv2wqPlCrEFp1AtWvhErPuUtfKjbjMpBBfPjkFcmx5Rj_5vepvdoj2-354hA0QxQC-bDTycZw4Om8r0T3JI?key=hP5zZ9dGchmBHAd5CwfA1Q" alt=""/></figure>



Peabody's stock didn't experience a lengthy drawdown like CMRE, but the decline's brevity didn't mask its fierceness. The stock dropped more than 60% from Election Day to Easter, trading in a tight range with multiple failed attempts to breach support and resistance levels. The downtrend finally broke in April, and although the stock hasn't exactly gone parabolic, the breakout was confirmed by a bullish MACD crossover in May. The climb back to new highs might be a slow one, but BTU has an attractive valuation and a chart signaling the momentum has turned. It also still has a short interest of over 17%, which could further fuel any rallies in the coming days or weeks.



<h2 class="wp-block-heading">Hello Group Inc.&nbsp;</h2>



Benzinga Edge Value Score: 97.31



Hello Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MOMO#NASDAQ">MOMO</a>) was a meme stock before there were meme stocks; its chart from 2017 and 2018 is enough to give even seasoned investors vertigo. But those days are long gone, and the stock has spent years trying to break out of a fortress-like resistance level. However, now that the stock trades at just eight times earnings and 0.7 times sales, investors are giving it a second look, and that resistance level has finally been broken.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeqIMYt2D-5FPmnHZ_uycJYfVUM6YpwpfWPBVAv55Si8bSEmdGYFnbMmICjgpqFm7N9CyeylBor1Kg7qXSU3iNJvqpHfMR-rpui8p9nzZl0jTmylGY-Px19kB0_Og03AKpJcVT1Tw?key=hP5zZ9dGchmBHAd5CwfA1Q" alt=""/></figure>



Talk about lengthy range-bound trading, Hello Group has traded between $5 and $8 since September 2023, and has failed multiple attempts to break through the resistance level above the $8 mark. But the MACD is showing outsized bullish momentum compared to previous quarters. The share price finally crested $8.15 for the first time in nearly two years. Volatility is increasing (did you expect something different with the ticker MOMO?), but if the old resistance level becomes support, this stock might not be done posting explosive gains in 2025.



<h2 class="wp-block-heading">Hamilton Insurance Group Ltd.&nbsp;</h2>



Benzinga Edge Value Score: 95.46



Hamilton (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HG#NYSE">HG</a>), a small-cap insurer based in Bermuda, has a market capitalization of $2.15 billion and annual sales of $2.3 billion. Strong earnings and guidance raises have fueled the stock's recent upward move, as the company handily beat EPS (0.48 per share vs. the expected 0.04) and revenue estimates ($843 million vs. the expected $498 million). But despite this massive beat, the stock still trades at just 5 times forward earnings and 0.9 times sales. 



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfpPbi5r2etuPt1EIIZowVx3H4uW2WOWxCi8fU0PFtBA9UG1fwnOpVci1FucqSDMPc-9yfRD9qvdOuBlp5tNDwJNuNnNYYGA5vn9utbV2AX4LP6GcvvbkMU4bmrkkqkBeTFPTSzPw?key=hP5zZ9dGchmBHAd5CwfA1Q" alt=""/></figure>



Above is a chart showing an undervalued company poised to build a new bull market. The stock price has been trading above both the 50-day and 200-day MAs, with the 50-day MA acting as support since mid-2024. Trump's tariffs briefly interrupted this trend, but the price quickly rose back above both MAs and appears to be balancing along the 50-day once again. The RSI is also back under 60 after a brief venture into Overbought territory, so another bounce off the 50-day would likely have strong upside momentum.



<h2 class="wp-block-heading">Tri-Pointe Homes Inc.&nbsp;</h2>



Benzinga Edge Value Score: 95.14



Investing in homebuilders is a dicey proposition at the moment, considering the headwinds facing the construction industry. However, Tri-Pointe's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPH#NYSE">TPH</a>) surprisingly strong Q1 2025 earnings indicate a resilient company capable of weathering economic turbulence. TPH posted EPS figures of $0.70 per share, easily exceeding the $0.45 per share estimate. The April report also triggered a momentum shift in the stock, which currently trades at just 8.9 times forward earnings and 0.65 times sales.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeDNgKBM88C12hDZmnsVLwopEb16MbGlyPNMOyDcylqxqTQWvF_bLukcvCnDXwF6O4NXh1gpzT4GWBJ6m31JGOwgYSg4-Ao8sf8ytTSwfcNKN4QsfphbXe46Qnj6CAbuq54dapFhQ?key=hP5zZ9dGchmBHAd5CwfA1Q" alt=""/></figure>



Like most homebuilders, TPH's shares couldn't shake downward momentum as high mortgage rates kept the housing market frozen. Housing is still struggling to gain traction (highlighted by this week's <a href="https://www.benzinga.com/news/macro-notification/25/06/46070420/us-home-sales-sink-to-slowest-may-since-2009-as-mortgage-rates-and-record-prices-keep-buyers-on-the-sidelines">poor report</a> in new home sales), but TPH has finally broken its downtrend, and momentum is slowly consolidating at a new support level. The RSI has been trending upward in unison with the stock price, giving more weight to the momentum shift. And with the RSI sitting at 57, the upswing likely has more room to run.



Editorial content from our expert contributors is intended to be information for the general public and not individualized investment advice. Editors/contributors are presenting their individual opinions and strategies, which are neither expressly nor impliedly approved or endorsed by Benzinga.



Photo: Shutterstock

Small Cap

Opinion

CMRE

MOMO

5 Undervalued Small Caps Showing Signs Of Breaking Out

The Nasdaq 100 index hit fresh all-time highs on Wednesday after surging more than 30% in just 12 weeks since early April&#8217;s tariff-driven selloff, a pace of gains seen only 10 times since the index&#8217;s<a href="https://www.benzinga.com/topic/technology-stocks"> inception in 1986. </a>



This rare upward momentum is prompting a key question for investors: Is it a sign of a market peak or the start of an even larger bull run?



Historical precedent shows that similar momentum has more often sparked major follow-through rallies than abrupt reversals, though not without important exceptions.



<h3 class="wp-block-heading">Chart: Nasdaq 100 Hits Record Highs After Massive V-Shaped Rally From April Lows</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="528" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/25095208/image-384-1024x528.png" alt="" class="wp-image-961685" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/25095208/image-384-1024x528.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/25095208/image-384-300x155.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/25095208/image-384-768x396.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/25095208/image-384-1536x792.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/25095208/image-384-2048x1056.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



Read also: <a href="https://www.benzinga.com/markets/tech/25/06/46074385/nasdaq-seasonality-summer-record-highs">Nasdaq 100&#8217;s Summer Sweet Spot Is Here &#8211; And It Rarely Disappoints</a>



<h3 class="wp-block-heading">How Rare Is A 30% 12-Week Rally—and What Happens Next?</h3>



Since 1986, the Nasdaq 100 – as tracked by the Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) – has posted a 30%-plus rally over 12 weeks on just 10 occasions before this one. 



While a couple of these moves coincided with market tops—most notably in 2000 and 2001—the majority paved the way for extended bull markets. 



<ul class="wp-block-list">
<li>June 2020: The Nasdaq 100 had already surged more than 30% in 12 weeks off the March 2020 pandemic low. Far from marking a top, the index then went on to gain an additional 70% by November 2021, boosted by tech dominance and unprecedented monetary stimulus.</li>



<li>May 2009: After the global financial crisis, a 30% rally over 12 weeks turned into a major bull market. The Nasdaq 100 climbed another 430% through October 2018, one of the longest expansions in tech history.</li>



<li>November 1998: A powerful rebound following the 1998 Russian sovereign crisis, which led to the LCTM crisis, the Nasdaq 100 then surged over 220% in just 16 months, peaking in March 2000.</li>



<li>March 1998: The Nasdaq 100 rebounded from a negative 1997, and the rally extended by a further 20% until August 1998. </li>



<li>February 1991: A recovery from the Gulf War recession drove a further 55% advance by January 1992, even as the economy transitioned into a slower growth phase.</li>
</ul>



Other instances were more muted:



<ul class="wp-block-list">
<li>July 1997: The rally faded into a sideways consolidation lasting about a year.</li>



<li>February 1988: After rebounding from the 1987 crash, the index moved within a tight range until March 1989, when a new bull phase began.</li>
</ul>



Cautionary signals did emerge in two cases:



<ul class="wp-block-list">
<li>December 1999: The index rose another 45% into March 2000, then collapsed during the dot-com bust.</li>



<li>December 2001: A short-lived rebound in a bear market was followed by a further 50% drop as the tech sector bottomed only in October 2002.</li>



<li>March 1987: After a rapid year-to-date 36% rise through mid-March, the Nasdaq 100 gained another 12% before the October 1987 crash erased 40% of its value.</li>
</ul>



<h3 class="wp-block-heading">Institutional Buying Backs The Tech Trend</h3>



Backing the current rally is not just sentiment—it's capital. 



According to Bank of America, institutional clients bought tech stocks at record levels in the week ending June 20. 



The buying spree, especially from long-term players, indicates growing confidence that the tech rally may have further room to run.



"We grew more constructive on Tech earlier this month," the bank said in its latest strategy note.



Despite tighter monetary conditions, tech earnings remain a key driver. 



Savita Subramanian, Bank of America's head of equity and quant strategy, highlighted that while the era of ultra-low rates may be over, earnings strength continues to justify tech's dominance in the S&amp;P 500.



&#8220;Tech earnings continue to lead the S&amp;P 500, although the growth differential between the Magnificent 7 and the rest of the index has narrowed and is expected to continue to do so,&#8221; she added. 



<h3 class="wp-block-heading">A Top Or A Takeoff?</h3>



The Nasdaq 100's recent rally mirrors the kind of strength seen before prolonged bull markets in 2020, 2009 and the late 1990s. 



While past performance is no guarantee of future results, the combination of historical precedent, earnings leadership and institutional accumulation suggests this rally may be less about exhaustion—and more about ignition.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/06/46081553/nvidia-stock-forecast-trump-china-golden-cross-ai">Nvidia&#8217;s Big Moment Is Back—Stock Exploded 500% The Last Time This Happened </a></li>
</ul>



Photo: Shutterstock

Nasdaq 100 Hits Record Highs After 30% Rally: History Suggests It's Not Done Yet

<a href="https://www.benzinga.com/topic/cathie-wood">Cathie Wood</a>'s two favorite <a href="https://www.benzinga.com/topic/elon-musk">Elon Musk ventures</a>—Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and <a href="https://www.benzinga.com/topic/spacex">SpaceX</a> &#8211; are heading for the stratosphere, but not at the same speed.



According to Wood's latest projections, Tesla stock could hit <a href="https://www.barchart.com/story/news/31623928/why-cathie-wood-thinks-tesla-stock-can-still-hit-2-600-by-2030">$2,600</a> by 2030 &#8211; that&#8217;s a jaw-dropping $8.19 trillion market cap (assuming no change in shares outstanding). On the other hand, she sees SpaceX at a lofty <a href="https://unusualwhales.com/news/ark-invest-estimates-spacexs-value-could-grow-from-350-billion-today-to-2-5-trillion-by-2030">$2.5 trillion</a> by 2030.



That means SpaceX, even after launching thousands of satellites and pioneering global broadband via Starlink, would be valued at just 30.5% of Tesla, giving investors a dramatically lower-cost way to bet on Musk's empire.



Read Also: <a href="https://www.benzinga.com/markets/tech/25/06/46095199/netflix-meta-microsoft-power-qqqs-golden-cross-is-the-rally-just-beginning">Netflix, Meta, Microsoft Power QQQ&#8217;s Golden Cross – Is The Rally Just Beginning?</a>



<h2 class="wp-block-heading">Starlink Lifts Off, But Tesla Stays ARK's Crown Jewel</h2>



ARK's thesis? Starlink's constellation &#8211; en route to 42,000 satellites &#8211; could haul in $300 billion annually, putting it in Apple Inc territory. "Starlink will be the primary driver of SpaceX's growth," ARK notes, seeing it capture 15% of global communications spending.



Yet even with that, Tesla's innovation stack &#8211; from EVs to Optimus robots and energy storage &#8211; remains unmatched in ARK's model. "Tesla aligns perfectly with our disruptive innovation framework," ARK says, sticking to its $2,600/share target despite political drama surrounding Musk's controversial role in President Donald Trump&#8216;s administration.



<h2 class="wp-block-heading">Public Exposure? Tesla's Easy. SpaceX? Not So Much.</h2>



While Tesla trades on the Nasdaq, SpaceX remains private, forcing investors to access it via its suppliers, such as Garmin Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) and Wistron NeWeb, both riding the Starlink expansion wave.



The big picture? Wood expects both companies to dominate their domains. But if you&#8217;re looking for the cheaper Musk stock, SpaceX might just be the bargain, assuming it ever goes public.



Until then, investors will have to choose: the headline-hogging Tesla, or the stealthy satellite surge of Starlink's mothership.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/06/46075062/why-this-fidelity-fund-manager-is-buying-china-tech-over-the-magnificent-seven">Why This Fidelity Fund Manager Is Buying China Tech Over The Magnificent Seven</a></li>
</ul>



Photo: JHVEPhoto/Shutterstock

Long Ideas

GRMN

Cathie Wood's 2030 Math: Tesla Rockets Past SpaceX By $5.7T

The artificial intelligence rally that made Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) a market juggernaut appears to have entered a new phase in 2025, as a sharp rotation in semiconductor leadership has seen rivals outperform <a href="https://www.benzinga.com/topic/chipmakers">the AI front-runner.</a>



Despite rising nearly 14% through the end of June, Nvidia now lags behind a group of chipmakers delivering significantly stronger gains.



Crucially, Nvidia&#8217;s long-held outperformance over the broader chip sector—tracked by the Invesco PHLX Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXQ#NASDAQ">SOXQ</a>)—has nearly evaporated in the first half of the year.



Is this just a pause in Nvidia's dominance, or the beginning of a more permanent shift in the AI hardware race?



<h3 class="wp-block-heading">Nvidia Is No Longer The Top Chip Gainer</h3>



After dominating the AI-fueled bull runs of 2023 and 2024, Nvidia has posted a modest year-to-date gain of 13.6% as of June 25, fully recovering from a Deepseek-driven selloff in January. 



But while Nvidia is in the green, several rival chipmakers have surged ahead.



Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) leads the pack, up 44.5% through June. KLA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>) follows with a 40.4% gain, and Lam Research Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) has jumped 32.9%. 



Other notable performers include Arm Holdings PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) with a 24% rise, Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) up 19.1% and Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) gaining 14.7%.



By contrast, Taiwan Semiconductor Manufacturing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) has added 13%, nearly matching Nvidia, while the broader sector tracked by the Invesco PHLX Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXQ#NASDAQ">SOXQ</a>) rose 10%.



This marks a reversal from 2024, when Nvidia soared 179.3%, more than doubling the returns of TSM, which gained 93.8%.



In 2023, Nvidia delivered a staggering 236.5% return, leaving AMD (+116.5%) and Broadcom (+100.1%) in the dust. That level of dominance is now being challenged. 



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><thead><tr><th>Stock Name</th><th>YTD Gain (as of June 25,2025)</th><th>2024 Performance</th><th>2023 Performance</th></tr></thead><tbody><tr><td>Micron Technology Inc. </td><td>+44.5%</td><td>+2.3%</td><td>+63.5%</td></tr><tr><td>KLA Corp. </td><td>+40.4%</td><td>+9.5%</td><td>+48.8%</td></tr><tr><td>Lam Research Corp. </td><td>+32.9%</td><td>-7.5%</td><td>+80.9%</td></tr><tr><td>Arm Holdings PLC </td><td>+24.0%</td><td>+70.6%</td><td>—</td></tr><tr><td>Advanced Micro Devices Inc. </td><td>+19.1%</td><td>-18.2%</td><td>+116.5%</td></tr><tr><td>Broadcom Inc. </td><td>+14.7%</td><td>+107.8%</td><td>+100.1%</td></tr><tr><td>Nvidia Corp. </td><td>+13.6%</td><td>+179.3%</td><td>+236.5%</td></tr><tr><td>Taiwan Semiconductor Mfg. </td><td>+13.0%</td><td>+93.8%</td><td>—</td></tr><tr><td>Invesco PHLX Semiconductor ETF </td><td>+10.0%</td><td>+20.2%</td><td>+60.9%</td></tr></tbody></table></figure>



<h3 class="wp-block-heading">Why Is The AI Leadership Rotating?</h3>



The sector rotation may reflect a broadening investor focus across the AI hardware stack.



While Nvidia continues to dominate AI accelerators, analysts see expanding opportunities in memory, manufacturing, and equipment, where companies like Micron, Lam and KLA are well-positioned.



In a note shared Wednesday, Bank of America analyst Vivek Arya estimated that the global AI data center market could grow from about $250 billion today to about $1 trillion by 2030, reflecting a 26% compound annual growth rate.



That growth rate is more than three times faster than overall IT spending, which Arya expects to rise at an 8% pace.



More than $800 billion of the projected $1 trillion market could be allocated to generative AI computing, networking and storage infrastructure.



AI servers are expected to dominate spending, accounting for roughly 80–85% of the total addressable market, or about $700 billion—including approximately $650 billion in accelerators. Networking is projected to capture 10–15%, or $74 billion, while storage will represent around 5%, or $39 billion. 



By 2030, total spending on AI data center systems is forecast to exceed 10% of global IT expenditures and make up more than 80% of all data center infrastructure outlays.



&#8220;We expect every major country/region to invest in creating its independent&nbsp;sovereign&nbsp;AI factory, trained in local language, culture, generating high-tech employment, and serving critical healthcare, defense, industrial, financial and cyber needs,&#8221; Arya said.



According to Bank of America Nvidia is expected to retain more than 80% of the AI accelerator market over time, while AMD is projected to hold around 5%. 



&#8220;Nvidia remains key beneficiary, but the rising tide is also positive Broadcom, AMD, Marvell, optical, foundry, memory, and semicap peers,&#8221; he added. 



Read Next:



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<li><a href="https://www.benzinga.com/markets/tech/25/06/46081553/nvidia-stock-forecast-trump-china-golden-cross-ai">Nvidia&#8217;s Big Moment Is Back—Stock Exploded 500% The Last Time This Happened</a></li>
</ul>



Photo: Who is Danny/Shutterstock

Analyst Color

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The AI Rally Just Flipped—These Stocks Are Now Outgunning Nvidia

Iran&#8217;s Foreign Ministry has confirmed that the country&#8217;s nuclear facilities have suffered significant damage due to American strikes over the past weekend.



What Happened: Iran&#8217;s Foreign Ministry spokesperson Esmail Baghaei has confirmed that the country&#8217;s nuclear facilities have been &#8220;badly damaged&#8221; due to American strikes over the weekend, <a href="https://www.timesofisrael.com/liveblog_entry/irans-foreign-ministry-says-nuclear-facilities-badly-damaged-by-us-strikes/">reported</a> The Times of Israel on Wednesday.



In an interview with Al Jazeera, Baghaei didn't share specific details but acknowledged that Sunday's strikes by American B-2 bombers using bunker buster bombs had a significant impact. &#8220;Our&nbsp;nuclear installations have been badly&nbsp;damaged, that's for sure,&#8221; he said.



SEE ALSO:&nbsp;<a href="https://benzinga.com/crypto/cryptocurrency/25/06/46087464/bitcoins-400x-rise-aside-cathie-wood-says-the-next-exciting-leg-is-just-beginning" target="_blank" rel="noreferrer noopener">Bitcoin&#8217;s 400x Rise Aside, Cathie Wood Says The &#8216;Next Exciting Leg&#8217; Is Just Beginning</a>



Why It Matters: The U.S. military&#8217;s strikes on Iran&#8217;s nuclear facilities have been a subject of much debate. A preliminary U.S. intelligence assessment suggested that the strikes <a href="https://www.benzinga.com/news/25/06/46086403/us-attack-on-iranian-nuclear-sites-reportedly-set-tehran-back-only-a-few-months-white-house-calls-assessment-flat-out-wrong">may not have </a>completely destroyed the core components of Iran&#8217;s nuclear program, setting back the program by only a few months.



Amid these developments, President&nbsp;Donald Trump&nbsp;declared a ceasefire between Israel and Iran, <a href="https://www.benzinga.com/news/politics/25/06/46072859/trump-says-israel-is-not-going-to-attack-iran-after-ceasefire-violation-turn-around-and-head-home">despite reports</a> of renewed hostilities. This came after Israel accused Iran of violating the U.S.-brokered truce.



Despite the ceasefire being violated by both sides,&nbsp;Daniel Ives, the managing director at Wedbush Securities, labeled the reported ceasefire between Iran and Israel as "the most bullish outcome" for U.S. markets. He predicted a rally in U.S. stocks once trading resumes, citing historical trends where <a href="https://www.benzinga.com/markets/equities/25/06/46071676/dan-ives-says-iran-israel-ceasefire-could-be-most-bullish-outcome-yet-for-wall-street-even-as-both-sides-break-truce">geopolitical stability </a>has triggered a 2-3% market uptick within a week.



<ul class="wp-block-list">
<li>READ MORE: <a href="https://www.benzinga.com/news/politics/25/06/46088581/federal-reserve-on-alert-amid-potential-iranian-cyberattack-threats-says-jerome-powell-its-a-big-issue">Federal Reserve On &#8216;Alert&#8217; Amid Potential Iranian Cyberattack Threats, Says Jerome Powell: &#8216;It&#8217;s A Big Issue&#8217;</a></li>
</ul>



Image via Shutterstock



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

Iran Breaks Silence, Says Nuclear Facilities 'Badly Damaged' By US Strikes

Cereal Giant General Mills, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) shares dipped in premarket trading Wednesday after the company posted mixed fourth-quarter results and <a href="https://www.benzinga.com/pressreleases/25/06/b46091246/general-mills-reports-fiscal-2025-fourth-quarter-and-full-year-results-and-provides-fiscal-2026-ou" target="_blank" rel="noreferrer noopener">issued a cautious full-year outlook</a>.



The global packaged food company registered quarterly adjusted earnings per share of 74 cents, beating the analyst consensus estimate of 71 cents. Quarterly sales of $4.56 billion (down 3% year over year) missed the Street view of $4.59 billion.



Organic net sales fell 3%, as expected, including a 2-point hit from unfavorable trade expense timing.



Also Read: <a target="_blank" href="https://www.benzinga.com/government/regulations/25/04/44939726/rfk-jr-will-phase-out-artificial-food-dyes-by-end-of-2026-what-it-means-for-pepsi-coca-cola-general-mills" rel="noreferrer noopener">RFK Jr. Will Phase Out Artificial Food Dyes By End Of 2026: What It Means For Pepsi, Coca-Cola, General Mills</a>



Quarterly net sales for General Mills&#8217; North America Retail segment were down 10% to $2.6 billion,&nbsp;North America Pet segment were up 12% to $675 million, North America Food service segment were down 2% to $579 million, and International segment were up 11% to $739 million.



Adjusted gross margin was down 220 basis points to 32.7% of net sales, driven primarily by higher input costs and unfavorable net price realization and mix.



Unfavorable trade expense timing was a 150-basis point headwind to adjusted gross margin in the quarter.



Adjusted operating profit of $622 million was down 22% in constant currency, driven by lower adjusted gross profit dollars. Adjusted operating profit margin was down 330 basis points to 13.7%.&nbsp;



&#8220;Our number one goal in fiscal 2026 is to restore volume-driven organic sales growth,&#8221; said General Mills Chairman and Chief Executive Officer Jeff Harmening.



&#8220;To do that, we&#8217;ll invest further in consumer value, product news, innovation, and brand building, guided by our remarkable experience framework and highlighted by Blue Buffalo&#8217;s national launch into fresh pet food coming later in calendar 2025.&#8221;



The company exited the quarter with cash and equivalents worth $363.9 million and inventories worth $1.91 billion.



General Mills launched a multi-year global transformation initiative under its Accelerate strategy to streamline operations and enhance agility through new tools, technologies, and operating models.



The initiative, along with other efficiency efforts, is expected to deliver $100 million in incremental cost savings in FY2026.



The company declared a quarterly dividend of 61 cents per share, payable August 1, 2025, to shareholders of record July 10, 2025. This represents a 2% increase from the previous quarterly rate.



General Mills expects its fiscal 2026 adjusted diluted EPS to decline 10%-15% in constant currency from the fiscal year 2025 base of $4.21. The company projects organic net sales to range between a 1% decline and a 1% increase.



&#8220;With a clear framework centered on remarkability and positive early returns from our fourth quarter investments, I&#8217;m confident our fiscal 2026 plans will put us on a path back to driving long-term growth in line with our shareholder return model,&#8221; the CEO added.



Price Action: GIS shares are trading lower by 4.51% to $51.00 premarket at last check Wednesday.



Read Next:



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<li><a href="https://www.benzinga.com/markets/large-cap/25/06/45980305/kraft-heinz-bans-artificial-colors-in-us-products-eyes-full-phaseout-by-2027" target="_blank" rel="noreferrer noopener">Kraft Heinz Bans Artificial Colors In US Products, Eyes Full Phaseout By 2027</a></li>
</ul>



Photo via Shutterstock

Earnings

Guidance

Markets

General

Cereal Giant General Mills' Cautious Outlook Offers Little Crunch, Stock Falls

Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) just flashed <a href="https://www.benzinga.com/topic/golden-cross">a Golden Cross</a>, and it's not just a technical footnote &#8211; it's a bullish billboard.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0625"><img loading="lazy" decoding="async" width="627" height="486" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/25082252/Screenshot-2025-06-25-at-12.58.33-PM.png" alt="" class="wp-image-961528" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/25082252/Screenshot-2025-06-25-at-12.58.33-PM.png 627w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/25082252/Screenshot-2025-06-25-at-12.58.33-PM-300x233.png 300w" sizes="(max-width: 627px) 100vw, 627px" /></a></figure>



<a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0625">Chart created using Benzinga Pro</a>



<h2 class="wp-block-heading">Golden Cross Confirms The Breakout</h2>



A Golden Cross occurs when the 50-day simple moving average (SMA) crosses above the 200-day SMA, a widely watched indicator that often signals the start of a longer-term uptrend. And in QQQ's case, that signal is now backed by price strength and a powerful tech-heavy backbone.



Read Also: <a href="https://www.benzinga.com/markets/tech/25/06/46074385/nasdaq-seasonality-summer-record-highs">Nasdaq 100&#8217;s Summer Sweet Spot Is Here &#8211; And It Rarely Disappoints</a>



The ETF, which closed Tuesday at $539.78, is now trading above all key simple moving averages (SMA) &#8211; eight, 20, 50 and 200-day. The eight-day SMA sits at $531.40, the 20-day at $528.09, and the 50-day at $501.48 &#8211; each confirming strong upward momentum. 



Even the MACD (Moving Average Convergence Divergence) sits at 7.87, adding to the bullish case. With an RSI (Relative Strength Index) of 66.09, QQQ isn't yet overbought, but it's clearly heating up.



And the fuel? 



<h2 class="wp-block-heading">Netflix, Meta, Microsoft Lead The Charge</h2>



Among the holdings, Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>), Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) are up 44.25%, 18.85% and 17.09% YTD &#8211; the top performers among QQQ's top 10 holdings in 2025.



While Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) are dragging, the market-cap heavyweights are still pulling weight &#8211; Meta riding AI monetization, Netflix cashing in on content strategy and ad tiers, and Microsoft powering ahead with cloud and enterprise strength.



The 52-week high of $540.81, set back in February, is now within whispering distance. If that level is cleared, QQQ may start attracting even more momentum chasers.



Investors looking for a growth barometer beyond individual stocks often use QQQ as a sentiment proxy for the Nasdaq 100. With a technical breakout now confirmed and tech bellwethers doing the heavy lifting, the question isn't whether QQQ is rallying &#8211; it's whether you&#8217;re already in.



Read Next: 



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<li><a href="https://www.benzinga.com/markets/tech/25/06/46079549/tech-stocks-eye-record-highs-crude-drops-to-64-on-iran-israel-truce-whats-driving-markets-tuesday">Tech Stocks Eye Record Highs, Crude Drops To $64 On Iran-Israel Truce: What&#8217;s Driving Markets Tuesday?</a></li>
</ul>



Photo: Shutterstock

Technicals

AAPL

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NFLX

Netflix, Meta, Microsoft Power QQQ's Golden Cross – Is The Rally Just Beginning?

As U.S. Treasuries wobble under the weight of budget deficits and rate uncertainty, <a href="https://in.benzinga.com/markets/emerging-markets">emerging market debt</a> is quietly staging a comeback — offering higher real yields, currency resilience, and inflation breathing room.



Investors accustomed to reflexively retreating to Treasuries in times of volatility are reconsidering. The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) is down over 8% over the past year, and still negative year-to-date.



In contrast, EM debt ETFs are showing strength: the iShares JP Morgan EM Local Currency Bond ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEMB#NYSE">LEMB</a>) is up nearly 10% year-to-date, while the VanEck JP Morgan EM Local Currency Bond ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EMLC#NYSE">EMLC</a>) and the SPDR Bloomberg Emerging Markets Local Bond ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EBND#NYSE">EBND</a>) have returned over 7%.



Even more compelling? These gains come as local inflation trends across emerging markets soften, not heating up.



Read Also: <a href="https://www.benzinga.com/etfs/specialty-etfs/25/06/46064634/vanguard-slashes-fees-across-european-fixed-income-ucits-etfs-enhancing-low-cost-investing-options">Vanguard Slashes Fees Across European Fixed Income UCITS ETFs, Enhancing Low-Cost Investing Options</a>



<h3 class="wp-block-heading">Real Yield Advantage Is Back</h3>



<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="611" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/24065955/image-355-1024x611.png" alt="" class="wp-image-959609" style="width:736px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/24065955/image-355-1024x611.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/24065955/image-355-300x179.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/24065955/image-355-768x458.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/24065955/image-355-1536x916.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/24065955/image-355.png 1979w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



The numbers tell the story:



<ul class="wp-block-list">
<li>Brazil&#8217;s 10-year government bond yields sit at a jaw-dropping 13.84%, while inflation has cooled to 5.32% &#8211; still above target but declining. That's a real yield north of 8%. </li>



<li>India's 10-year yield is 6.36% with inflation just 2.82%.</li>



<li>Indonesia yields 6.76% against inflation of 1.6%.</li>
</ul>



Compare that with the U.S., where 10-year yields are 4.35% and inflation ticked up to 2.4% in May, after four straight months of decline. While still moderate, the uptick &#8211; driven by food and transportation &#8211; suggests limited near-term relief for real yields. Core inflation held steady at 2.8%, reinforcing the Fed's cautious stance.



In short, emerging markets are offering stronger inflation-adjusted returns, with less policy ambiguity.



<h2 class="wp-block-heading">Currency Strength Adds Another Layer</h2>



For years, dollar dominance made EM debt vulnerable. Not anymore. 



The DXY dollar index is down nearly 10% YTD, and Brazil's real has strengthened over 11% against the dollar, boosting total return potential. 



While India and Indonesia have seen more stable currencies, their resilience against the greenback is still a win in the EM debt playbook.



<h2 class="wp-block-heading">Rate Cut Room &amp; Policy Stability</h2>



With inflation falling and real yields rising, central banks in emerging economies now have room to cut rates &#8211; a powerful tailwind for bond prices. 



India's CPI just hit a six-year low, Brazil is inching toward its inflation target, and Indonesia remains firmly within its policy range. 



That's in stark contrast to the U.S., where the Fed remains caught between stickier core inflation and concerns over fiscal slippage.



<h2 class="wp-block-heading">How To Play It</h2>



For investors looking to diversify income streams and hedge against dollar volatility:



<ul class="wp-block-list">
<li>LEMB: Up 9.88% YTD, offers broad exposure to sovereign debt in local currency.</li>



<li>EMLC: Up 7.43% YTD, tracks J.P. Morgan's benchmark for EM local debt.</li>
</ul>



These funds also benefit from exposure to stronger currencies and improving macro fundamentals.



U.S. Treasuries may still be the default play for safety, but in 2025, the risk-adjusted returns are flowing toward emerging markets. 



With inflation falling, currencies stabilizing, and yields sky-high, EM debt isn&#8217;t just an alternative anymore &#8211; it might just be the new safe haven.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/06/46014647/wall-street-watches-as-money-flows-out-of-us-markets-is-the-great-rotation-here">Wall Street Watches As Money Flows Out Of US Markets — Is The &#8216;Great Rotation&#8217; Here?</a></li>
</ul>



Image: Shutterstock

Bonds

Emerging Markets

EBND

EMLC

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Bond Bulls Look To Brazil, India, Indonesia As Emerging Market Debt Rallies

The White House&#8217;s deputy chief of staff,&nbsp;Stephen Miller, known for shaping the Trump administration&#8217;s stringent immigration policies, reportedly owns a significant amount of stock in ICE contractor&nbsp;Palantir Technologies Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>).



What Happened: Miller&#8217;s financial disclosures reportedly indicate that he holds up to $250,000 worth of shares in Palantir, a company that plays a crucial role in the operations of U.S. immigration officials. The investment is held in a brokerage account belonging to one of Miller&#8217;s children, raising concerns about potential conflicts of interest. The financial filings were <a href="https://www.pogo.org/investigations/stephen-miller-conflicts-of-interest">obtained </a>by the watchdog group Project on Government Oversight, which revealed the revisions as recent as June 4. 



Since the Obama era, Palantir's technology has enabled ICE to consolidate data sources to more effectively identify immigrants for arrest and deportation, with ICE calling its services "Mission Critical."



The investigation also found 11 other officials with Palantir stock holdings, though none as substantial as Miller's, the report said. Don Fox, a former acting head and former general counsel of the Office of Government Ethics, told the watchdog, "He could easily become involved in policy matters that have a direct and predictable impact on Palantir.&#8221;



Meanwhile, Homeland Security spokesperson Tricia McLaughlin dismissed the report as "very silly,&#8221; reported The Independent, while the White House said Miller has assured ethics officials he will continue to recuse himself from any matters that could affect his stock holdings.



The White House did not immediately respond to <a href="http://pro.benzinga.com">Benzinga&#8217;s</a> request for comment. 



SEE ALSO: <a href="https://benzinga.com/pressreleases/25/06/g46054422/blackpoint-cyber-appoints-gagan-singh-to-chief-executive-officer-and-names-jon-murchison-executive" target="_blank" rel="noreferrer noopener">Blackpoint Cyber Appoints Gagan Singh to Chief Executive Officer and Names Jon Murchison Executive Chairman &#8211; Benzinga</a> 



Why It Matters: In April, Palantir secured nearly a $30 million<a href="https://www.benzinga.com/tech/25/04/44882049/peter-thiels-palantir-bags-30-million-order-from-ice-for-immigrant-tracking-system"> contract </a>with the U.S. Immigration and Customs Enforcement (ICE) to enhance its immigration enforcement tools, focusing on tracking visa overstays and self-deportations through a system called ImmigrationOS. This deal was an expansion of an existing agreement.



Palantir has also been under scrutiny for its role in the Trump administration&#8217;s immigration policies. In June, the company&nbsp;<a href="https://www.benzinga.com/markets/equities/25/06/45988762/palantir-rejects-surveillance-claims-after-being-compared-to-nazi-collaborators-touts-pltrs-transparent-lineage">rejected allegations</a> of mass surveillance&nbsp;and compared the criticism to collaboration with Nazi Germany and South Africa&#8217;s apartheid regime. The company has been vocal about its commitment to transparency and ethical data use.



Palantir has had a very successful run on Wall Street this year. On a year-to-date basis, the stock surged 90.49%, while over the past year, it gained 483.18%, as per <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.



<ul class="wp-block-list">
<li>READ MORE: <a href="https://www.benzinga.com/news/topics/25/06/46010921/palantirs-head-of-defense-says-xi-jinping-is-decoupling-from-us-warns-america-risks-losing-leverage-if-china-tech-shift-goes-unchecked">Palantir&#8217;s Head Of Defense Says &#8216;Xi Jinping Is Decoupling From Us&#8217; — Warns America Risks Losing Leverage If China Tech Shift Goes Unchecked</a></li>
</ul>



Image via Shutterstock



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



 



<ul class="wp-block-list">
<li></li>
</ul>

PLTR

Trump Advisor Stephen Miller Reportedly Holds Stake Worth Millions In ICE Contractor Palantir: 'He Could Easily...Have A Direct And Predictable Impact'

U.S. futures were flat on Wednesday after a positive day of trading on Tuesday. Futures of major benchmark indices were slightly positive.



Investors hoped the ceasefire between Iran and Israel would hold and help calm geopolitical tensions. President Donald Trump declared Tuesday that a ceasefire between the two adversaries was back in effect, even as reports of renewed hostilities raised doubts about its durability.



&#8220;Israel is not going to attack Iran. All planes will turn around and head home, while doing a friendly ‘Plane Wave&#8217; to Iran,&#8221; Trump posted on Truth Social, adding, &#8220;<a href="https://www.benzinga.com/news/politics/25/06/46072859/trump-says-israel-is-not-going-to-attack-iran-after-ceasefire-violation-turn-around-and-head-home">the Ceasefire is in effect!</a>&#8220;



The 10-year Treasury bond yielded 4.29% and the two-year bond was at 3.79%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections show markets pricing a 79,3% likelihood of the Federal Reserve keeping the current interest rates unchanged in its July meeting. 



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Dow Jones</td><td>0.01%</td></tr><tr><td>S&amp;P 500</td><td>0.06%</td></tr><tr><td>Nasdaq 100</td><td>0.10%</td></tr><tr><td>Russell 2000</td><td>0.11%</td></tr></tbody></table></figure>



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, were higher in premarket on Tuesday. The SPY was up 0.069% at $607.20, while the QQQ advanced 0.14% to $540.51, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From Last Session:



Information technology, communication services, and financial stocks led the gains on Tuesday, propelling U.S. stocks higher, with the Dow Jones index climbing over 500 points.



However, energy stocks bucked the overall market trend, closing the session lower.



Separately, TD Synnex Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNX#NYSE">SNX</a>) reported better-than-expected earnings for the second quarter, and Nano Labs Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NA#NASDAQ">NA</a>) shares surged 36% after announcing a $500 million convertible notes private placement for its BNB treasury strategy.



On the economic front, the U.S. current account deficit widened by 44.3% to $450.2 billion in the first quarter, exceeding market estimates, while the S&amp;P CoreLogic Case-Shiller Home Price Index saw a smaller 3.4% year-over-year increase in April.



The Dow Jones index ended 507 points or 1.19% higher at 43,089.02, whereas the S&amp;P 500 index rose 1.11% to 6,092.18. Nasdaq Composite advanced 1.43% to 19,912.53, and the small-cap gauge, Russell 2000, gained 1.34% to end at 2,161.21.



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>1.43%</td><td>19,912.53</td></tr><tr><td>S&amp;P 500</td><td>1.11%</td><td>6,092.18</td></tr><tr><td>Dow Jones</td><td>1.19%</td><td>43,089.02</td></tr><tr><td>Russell 2000</td><td>1.34%</td><td>2,161.21</td></tr></tbody></table></figure>



Insights From Analysts:



Jurrien Timmer of Fidelity Investments said in a series of X posts that the S&amp;P 500 index was rangebound as it flirts with the all-time high and is heavily dependent on the movement of the Magnificent 7 stocks.



&#8220;The correction this year held at the 2021 high, and so far the recovery has been bounded by the 2025 high. That seems like a reasonable range to me,&#8221; he said.



He also predicted that the 20% &#8216;V&#8217; shaped recovery in the index from April lows could turn &#8220;to an M from here.&#8221; He pointed out that &#8220;there are only a few historical analogs left in which the market continues to make new highs so soon after drawing down 20%.&#8221;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The V-shaped recovery in April has brought the S&amp;P 500 index back to within 2% of its all-time highs, while the MSCI EAFE index is making consistent new highs. As the chart shows below, there are only a few historical analogs left in which the market continues to make new highs… <a href="https://t.co/Fu0E5Z4MQJ">pic.twitter.com/Fu0E5Z4MQJ</a>&mdash; Jurrien Timmer (@TimmerFidelity) <a href="https://twitter.com/TimmerFidelity/status/1937511169318637675?ref_src=twsrc%5Etfw">June 24, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Talking about the market breadth, he highlighted that the market has narrowed again, with only half of the stocks in the S&amp;P 500 trading above their various moving averages.



Meanwhile, he said the Magnificent 7, which led the downside in March and April, has led the upside in May but remains below its all-time high set in December. &#8220;Given the degree of concentration of these companies, wherever the Mag 7 goes, so goes the index as a whole.&#8221;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The Mag 7, which led the downside in March and April, has led the upside in May but remains below its all-time high set in December. Given the degree of concentration of these companies, wherever the Mag 7 goes, so goes the index as a whole. <a href="https://t.co/0tvvI9y4aZ">pic.twitter.com/0tvvI9y4aZ</a>&mdash; Jurrien Timmer (@TimmerFidelity) <a href="https://twitter.com/TimmerFidelity/status/1937512081429004339?ref_src=twsrc%5Etfw">June 24, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Talking about the ongoing tensions in the Middle East, Ed Yardeni said, &#8220;Any day with a ceasefire in the Middle East is a good day for stocks.&#8221;



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



Upcoming Economic Data



Here&#8217;s what investors will keep an eye on Wednesday:



<ul class="wp-block-list">
<li>May&#8217;s new home sales will be released at 10:00 a.m. ET.</li>
</ul>



Stocks In Focus:



<ul class="wp-block-list">
<li>General Mills Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) was up 0.094% in premarket on Wednesday as analysts expect it to report quarterly earnings of 71 cents per share on revenue of $4.59 billion, before the opening bell.</li>



<li>Paychex Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>) advanced 0.27% as analysts expect it to report quarterly earnings of $1.19 per share on revenue of $1.42 billion, before the opening bell.</li>



<li>Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) was 0.657% higher as analysts expect it to report quarterly earnings of $1.59 per share on revenue of $8.86 billion after the closing bell.</li>



<li>Winnebago Industries Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WGO#NYSE">WGO</a>) fell 0.13% as analysts expect it to report quarterly earnings of 79 cents per share on revenue of $774.81 million, before the opening bell.</li>



<li>AeroVironment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVAV#NASDAQ">AVAV</a>) rose 1.41% after upbeat results. It sees fiscal 2027 adjusted EPS in a range of $2.80 to $3, versus the $3.72 estimate, and revenue in a range of $1.9 billion to $2 billion, versus the $1.98 billion estimate.</li>



<li>Worthington Enterprises Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOR#NYSE">WOR</a>) jumped 11.39% after reporting better-than-expected fourth-quarter financial results. The company reported quarterly earnings of $1.06 per share, which beat the analyst consensus estimate of 84 cents per share.</li>



<li>Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) gained 2.98% as it is set to release its month-to-date trading metrics for June this Thursday, according to an update on the company's investor relations website.</li>



<li>Quantumscape Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QS#NYSE">QS</a>) surged 30.25% after its Cobra separator process entered into baseline production.</li>
</ul>



Commodities, Gold, And Global Equity Markets:



Crude oil futures were trading higher in the early New York session by 0.87% to hover around $64.93 per barrel.



Gold Spot US Dollar rose 0.03% to hover around $3,323.71 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was higher by 0.24% at the 98.0900 level.



Asian markets ended higher on Wednesday as Australia's ASX 200, Japan's Nikkei 225, China&#8217;s CSI 300, South Korea's Kospi, Hong Kong's Hang Seng, and India's S&amp;P BSE Sensex indices advanced. European markets were mixed in early trade.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/06/46068345/blackrock-bets-big-on-defense-companies-amid-escalating-geopolitical-tensions-palantir-lockheed-martin-northrop-grumman-among-stocks-in-focus">BlackRock Bets Big On Defense Companies Amid Escalating Geopolitical Tensions: Palantir, Lockheed Martin, Northrop Grumman Among Stocks In Focus</a></li>
</ul>



Photo courtesy: godongphoto / Shutterstock.com

AVAV

HOOD

US Stocks Likely To Edge Higher As Iran-Israel Ceasefire Holds: Micron Technology, General Mills In Focus Ahead Of Earnings

Sen. Bernie Sanders (I-VT) is advocating for a 32-hour workweek, citing the potential for advancements in artificial intelligence and automation to provide workers with more personal time.



What Happened: Sanders, in a recent appearance on the Joe Rogan Experience podcast, outlined his vision for a future where AI and automation drive increased productivity and efficiency, leading to reduced working hours for employees. &#8220;Instead of throwing you out on the street, I&#8217;m going to reduce your workweek to 32 hours,&#8221; Sanders stated.



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Joe Rogan Experience #2341 - Bernie Sanders" width="500" height="281" src="https://www.youtube.com/embed/mYVzme2fybU?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div></figure>



The Vermont senator underscored the potential benefits of technology for workers, suggesting it could offer more time for family, friends and education. 



Sanders introduced the &#8220;Thirty-Two Hour Workweek Act&#8221; last year, which mandates overtime pay for any work beyond 32 hours in a week. The proposed change would be gradually implemented over a four-year period.



SEE ALSO:&nbsp;<a href="https://benzinga.com/news/legal/25/06/46087760/trumps-move-to-gut-financial-protection-agency-could-cost-consumers-15-billion-a-year-say-advocacy-gro" target="_blank" rel="noreferrer noopener">Trump&#8217;s Move To Gut Financial Protection Agency Could Cost Consumers $15 Billion A Year, Say Advocacy Groups</a>



Why It Matters:&nbsp;&nbsp;The proposal comes at a time when the impact of AI and automation on the workforce is a hot topic. Just days before Sanders&#8217; podcast appearance,&nbsp;<a href="https://www.benzinga.com/content/46083721/microsoft-stock-holds-steady-as-ai-drives-workforce-shift">Microsoft</a>&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) announced its third round of layoffs for 2025, primarily targeting the sales team and other customer-facing roles. This move was attributed to AI-driven workforce shifts.



Similarly,&nbsp;<a href="https://www.benzinga.com/markets/tech/25/06/45990634/amazon-ceo-andy-jassys-ai-led-job-cuts-warning-sparks-backlash-as-employee-reportedly-says-its-clearly-part-of-the-plan">Amazon</a>&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) CEO Andy Jassy recently warned that AI would reduce the company's corporate workforce due to efficiency gains, sparking backlash from employees. Meanwhile, JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) CEO Jamie Dimon admitted that U.S. companies are <a href="https://www.benzinga.com/news/education/25/06/46067954/jamie-dimon-says-these-are-the-3-skills-businesses-seek-admits-we-are-short-on-labor">short on workers </a>who can code software, secure networks and run complex projects.



<ul class="wp-block-list">
<li>READ MORE: <a href="https://www.benzinga.com/personal-finance/management/25/06/46042198/bernie-sanders-says-working-class-americans-die-10-years-earlier-than-the-rich-blames-enormous-stress-of-living-paycheck-to-paycheck">Bernie Sanders Says Working-Class Americans Die 10 Years Earlier Than the Rich — Blames &#8216;Enormous Stress of Living Paycheck to Paycheck&#8217; </a></li>
</ul>



Image via Shutterstock



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

AMZN

Bernie Sanders Slams Job Cuts, Says AI Should Give Workers More Time Off: 'Instead Of Throwing You Out On The Street...'

The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, while the index was in the &#8220;Greed&#8221; zone on Tuesday.



U.S. stocks settled higher on Tuesday, with the Dow Jones index gaining more than 500 points during the session as investor sentiment improved following a ceasefire agreement between Israel and Iran, confirmed by both President Donald Trump and Israeli Prime Minister Benjamin Netanyahu.



TD Synnex Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNX#NYSE">SNX</a>) reported better-than-expected earnings for the second quarter on Tuesday. Nano Labs Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NA#NASDAQ">NA</a>) shares jumped 36% on Tuesday after the company announced a $500 million convertible notes private placement for its BNB treasury strategy.



On the economic front, the U.S. current account deficit increased by 44.3% to $450.2 billion in the first quarter versus a revised deficit of $312 billion in the fourth quarter and compared to market estimates of a $443.3 billion gap. The S&amp;P CoreLogic Case-Shiller Home Price Index increased 3.4% year-over-year in April following a 4.1% gain in the previous month.



Most sectors on the S&amp;P 500 closed on a positive note, with information technology, communication services and financial stocks recording the biggest gains on Tuesday. However, energy stocks bucked the overall market trend, closing the session lower.



The Dow Jones closed higher by around 507 points to 43,089.02 on Tuesday. The S&amp;P 500 rose 1.11% to 6,092.18, while the Nasdaq Composite climbed 1.43% to 19,912.53 during Tuesday's session.



Investors are awaiting earnings results from General Mills, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>), Paychex, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>) and Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) today.



What is CNN Business Fear &amp; Greed Index?



At a current reading of 56.3, the index remained in the &#8220;Greed&#8221; zone on Tuesday, versus a prior reading of 55.4.



The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/short-ideas/25/06/46072226/top-3-real-estate-stocks-you-may-want-to-dump-in-june">Top 3 Real Estate Stocks You May Want To Dump In June</a> </li>
</ul>



Photo courtesy: Shutterstock

Pre-Market Outlook

Dow Jumps Over 500 Points Following Iran-Israel Ceasefire: Investor Sentiment Improves, Fear Index In 'Greed' Zone

Zohran Mamdani, the 33-year-old progressive state representative, emerged as the frontrunner in New York City&#8217;s Democratic mayoral primary Tuesday night, prompting former Governor Andrew Cuomo to concede defeat.



What Happened: With 91% of votes counted, Mamdani secured 43.5% compared to Cuomo&#8217;s 36.4%. City Comptroller Brad Lander trailed with 11.4%, according to preliminary results.



&#8220;Tonight is his night. He deserved it. He won,&#8221; Cuomo told supporters at his campaign rally, praising Mamdani&#8217;s &#8220;really smart and good and impactful campaign.&#8221;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Cuomo: Tonight is his night, he won <a href="https://t.co/prSuY58bXl">pic.twitter.com/prSuY58bXl</a>&mdash; Acyn (@Acyn) <a href="https://twitter.com/Acyn/status/1937701732508926291?ref_src=twsrc%5Etfw">June 25, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The outcome represents a significant rebuke to the Democratic establishment. Cuomo entered the race in March with superior name recognition and a 30-point polling lead, backed by billionaire donors including Home Depot co-founder Ken Langone and Avenue Capital Group CEO Marc Lasry, <a href="https://www.theguardian.com/us-news/2025/jun/24/new-york-mayoral-primary-results">according</a> to The Guardian. Outside spending supporting Cuomo exceeded $25 million, setting a record for the city.



Mamdani&#8217;s grassroots campaign capitalized on endorsements from progressive leaders Rep.&nbsp;Alexandria Ocasio-Cortez&nbsp;(D-N.Y.) and Sen.&nbsp;Bernie Sanders&nbsp;(I-VT). His platform includes rent freezes and free citywide bus service, resonating particularly with younger voters.



See Also: <a href="https://www.benzinga.com/personal-finance/management/25/06/46087248/americans-used-to-fantasize-about-getting-rich-now-they-just-want-to-be-comfortable-1-in-4-dont-feel-financially-safe-many-want-150000-payslips">Americans Used To Fantasize About Getting Rich, Now They Just Want To Be Comfortable: 1-In-4 Don&#8217;t Feel Financially Safe, Many Want $150,000 Payslips</a>



Why It Matters: The race utilized ranked-choice voting, requiring a candidate to receive 50% of the votes for an outright victory. Mamdani&#8217;s cross-endorsement with Lander positions him favorably for second-choice tallies, though final results may take days.



Market implications remain significant given New York&#8217;s economic influence. Former Goldman Sachs CEO Lloyd Blankfein <a href="https://www.benzinga.com/news/legal/25/03/44094049/cuomos-mayoral-bid-shakes-up-nyc-race-drawing-major-power-brokers-and-critics-alike">previously endorsed Cuomo</a>, emphasizing the need for &#8220;economic development&#8221; leadership and cooperation with the Trump administration.



Incumbent Mayor Eric Adams, running as an independent after corruption charges were dropped in April following Trump administration intervention, <a href="https://www.benzinga.com/news/legal/25/03/44094049/cuomos-mayoral-bid-shakes-up-nyc-race-drawing-major-power-brokers-and-critics-alike">remains deeply unpopular</a>. 



Mamdani would become New York&#8217;s first Muslim mayor if elected, marking a historic shift in America&#8217;s financial capital.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/06/46087132/elizabeth-warren-says-the-tax-break-for-mark-zuckerbergs-meta-is-so-bountiful-under-trumps-big-beautiful-bill-that-35-copay-from-each-american-wont-still">Elizabeth Warren Says The Tax Break For Mark Zuckerberg&#8217;s Meta Is So Bountiful Under Trump&#8217;s &#8216;Big Beautiful Bill&#8217; That $35 Copay From Each American Won&#8217;t Still Match It</a></li>
</ul>



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



Photo courtesy: Ron Adar / Shutterstock.com

Politics

Zohran Mamdani Leads NYC Mayoral Primary, Andrew Cuomo Concedes Race: 'He Deserved It. He Won'

Leading cryptocurrencies moved further up on Tuesday as investors hoped the ceasefire between Iran and Israel would hold and help calm geopolitical tensions



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 10:20 p.m. ET)</th></tr></thead><tbody><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>+1.67%</td><td>$106,712.57</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>+2.73%</td><td>$2,466.22</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>+2.73%</td><td>$0.1668</td></tr></tbody></table></figure>



What Happened: Bitcoin hit the upper reaches of $106,000 overnight but was still 4.75% away from its all-time highs. Ethereum reentered the $2,400 region and consolidated.



Bitcoin's dominance increased to 64.5%, while Ethereum's market share eased by around 9%.



Short position traders continued to get liquidated, with more than $115 million in downside bets evaporating in the last 24 hours.



Bitcoin&#8217;s open interest climbed 2.12% to over $70 billion, marking a significant improvement from the weekend dip. Interestingly, over 60% of Binance traders with open BTC positions were short as of this writing.



The market sentiment remained in "Greed," according to the Crypto Fear &amp; Greed Index.



Top Gainers (24 Hours)



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 10:20 p.m. ET)</th></tr></thead><tbody><tr><td>Sei (SEI)</td><td>+23.98%</td><td>$0.3327</td></tr><tr><td>Maple Finance (SYRUP) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+21.80%</td><td>$0.5888</td></tr><tr><td>SPX6900 (SPX)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+13.76%</td><td>$1.36 </td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.28 trillion, following an increase of 1.13% in the last 24 hours.



Stocks staged a sharp rally on Tuesday. The Dow Jones Industrial Average rose 507.24 points, or 1.19%, to end at 43,089.02. The S&amp;P 500 gained 1.11% to close at 6,092.18, while the tech-focused Nasdaq Composite spiked 1.43% to end at 19,912.53.



Investors factored in President Donald Trump&#8217;s <a href="https://www.benzinga.com/news/politics/25/06/46072859/trump-says-israel-is-not-going-to-attack-iran-after-ceasefire-violation-turn-around-and-head-home">assurance</a> that a ceasefire between Iran and Israel is in effect, even as reports of renewed hostilities raised doubts about its durability.&nbsp;



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



Analyst Notes: Widely followed cryptocurrency trader bwatts identified a bull flag setup for Bitcoin, potentially leading to upward price continuation.



"Remains bullish as long as weekly candles are closing over $97,938. Needs a daily close over $108,403 for upside continuation," the trader projected.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> Bull flag setup. Remains bullish as long as weekly candles are closing over 97,938. Needs a daily close over 108,403 for upside continuation. <a href="https://t.co/SiP83ASBam">pic.twitter.com/SiP83ASBam</a>&mdash; bwatts  (@_bwatts_) <a href="https://twitter.com/_bwatts_/status/1937515863961469341?ref_src=twsrc%5Etfw">June 24, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Meanwhile, a smart trader doubled down on their Ethereum bearish bet, adding another 10,000 ETH to the short position.



The trader held 50,000 ETH short as of this writing, with unrealized profits down to $13.9 million



<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">Smart trader 0xcB92 doesn&#39;t seem bullish on <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>. His <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> short once had over $26M in unrealized profit, but he didn&#39;t close it—instead, he doubled down by adding another 10K <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>. He now holds 50K <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>($122M) short, with profits down to $13.9M.<a href="https://t.co/PZR8ypAal9">https://t.co/PZR8ypAal9</a> <a href="https://t.co/wCnZ8BKNZt">pic.twitter.com/wCnZ8BKNZt</a>&mdash; Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1937685796770971670?ref_src=twsrc%5Etfw">June 25, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo Courtesy: sundaemorning on Shutterstock.com



Read Next:&nbsp;&nbsp;&nbsp;&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/06/46075421/crypto-is-macroeconomically-insignificant-yanis-varoufakis-in-2023-why-the-2023-warnings-s">&#8216;Crypto Is Macroeconomically Insignificant&#8217;: Yanis Varoufakis In 2023: Why The 2023 Warnings Still Resonate In 2025</a></li>
</ul>

$DOGE

$ETH

Bitcoin, Ethereum, Dogecoin Inch Higher As Investors Hope 'Trump-Brokered' Iran-Israel Ceasefire Holds:  Analyst Says BTC Needs A Daily Close Over $108,403 For Upside To Continue

On Tuesday, Sen. Elizabeth Warren (D-Mass.) slammed Meta Platforms, Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) alleged tax windfalls under President Donald Trump's new legislative package, saying the <a href="https://www.benzinga.com/news/politics/25/06/45854511/elizabeth-warren-calls-trumps-tax-bill-ugly-for-targeting-cfpb-says-it-returned-21-billion-to-cheated-americans">benefits far outweigh</a> what ordinary Americans could ever contribute.



What Happened: Warren criticized a provision in Trump's "Big Beautiful Bill" that she says offers Meta a massive tax break.



"If every one of the 340 million people in America paid a new $35 copay to visit the doctor, that still wouldn't be enough to cover how much Meta would get from just one tax break in Donald Trump&#8217;s ‘Big Beautiful Bill,'" she posted on X, formerly Twitter.



The U.S. population is estimated at 342 million, according to the Census — a number that, as Warren pointed out, wouldn&#8217;t be enough to offset the tax break given to Mark Zuckerberg&#8217;s company under the &#8220;Big Beautiful Bill.&#8221;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If every one of the 340 million people in America paid a new $35 copay to visit the doctor, that still wouldn't be enough to cover how much Meta would get from just one tax break in Donald Trump&#39;s &quot;Big Beautiful Bill.&quot; <a href="https://t.co/LWcSqrI3eV">pic.twitter.com/LWcSqrI3eV</a>&mdash; Elizabeth Warren (@SenWarren) <a href="https://twitter.com/SenWarren/status/1937527386683154635?ref_src=twsrc%5Etfw">June 24, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Warren and Meta did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga's</a> request for comments.



Also Read:&nbsp;<a href="https://www.benzinga.com/media/25/05/45680165/meta-hits-1-billion-monthly-ai-users-eyes-future-with-subscriptions" target="_blank" rel="noreferrer noopener">Meta Hits 1 Billion Monthly AI Users, Eyes Future With Subscriptions</a>



Why It's Important: Earlier this month, Warren slammed the "One Big Beautiful Bill Act," warning it could cause 16 million Americans to lose health coverage and add $2.4 trillion to the national debt.



Citing Congressional Budget Office estimates, Warren said the bill disproportionately <a href="https://www.benzinga.com/news/politics/25/06/45785851/elizabeth-warren-says-trumps-one-big-beautiful-bill-will-rip-away-health-coverage-from-16-million-a">benefits billionaires</a> like Jeff Bezos and Mark Zuckerberg at the expense of everyday Americans.



Warren has also <a href="https://www.benzinga.com/news/politics/25/06/45764421/elizabeth-warren-warns-ai-provision-in-trumps-big-beautiful-bill-could-enable-rent-hikes-this-policy-violates-the-senates-budget-rules">opposed a provision</a> in the bill that would prevent states from regulating artificial intelligence for 10 years. She argued this could lead to higher rents by protecting companies like RealPage. Representative Marjorie Taylor Greene has also criticized the measure.



Bezos and Zuckerberg's Meta have each <a href="https://www.benzinga.com/news/politics/25/05/45708460/elon-musks-175-billion-in-doge-cut-falls-far-short-of-the-billionaires-goal-expect-to-achieve-over-time-the-trillion-dollars-of-savings-says-tesla-ceo">contributed $1 million</a> to Trump's Jan. 20 inauguration.



According to Benzinga's Edge Stock Rankings, META is exhibiting a consistent upward trend across short, medium and long-term timeframes. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">More detailed performance insights can be found here</a>.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/24215930/Screenshot-2025-06-25-at-7.27.47%E2%80%AFAM.png" alt="" class="wp-image-960688"/></a></figure>



Photo courtesy: Sheila Fitzgerald / Shutterstock.com



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

Government

Elizabeth Warren Says The Tax Break For Mark Zuckerberg's Meta Is So Bountiful Under Trump's 'Big Beautiful Bill' That $35 Copay From Each American Won't Still Match It

Artificial general intelligence may not lead to the deflationary future some investors expect, according to Harvard professor and former IMF Chief Economist Ken Rogoff.



What Happened: Appearing on the Dwarkesh Patel Podcast earlier in the month, Rogoff warned that AGI could actually push inflation up, keeping pressure on interest rates to stay higher for longer, amid growing demand for energy and infrastructure capital expenditures.



&#8220;AGI and AI are upward pressures on interest rates,&#8221; he says, adding that with &#8220;the huge energy needs [and] the capital investment, you&#8217;re going to see even more spending, not less.&#8221;



See Also: <a href="https://www.benzinga.com/markets/tech/25/06/46076895/microsofts-layoffs-news-july-2025-ai-investment-80-billion">Microsoft&#8217;s AI Gets $80 Billion—While Pink Slips Print By The Thousand</a>



This is in sharp contrast to other economists and experts, who have since commented on AI and artificial general intelligence being broadly deflationary. Rogoff, however, cautions that this is a misreading of how capital-intensive technological revolutions unfold.



&#8220;Traditionally, when you did a lot of investment, it raised wages,&#8221; he said, while citing research by MIT economist Daron Acemoglu, who has shown that automation doesn't always lead to falling wages or lower investment, but it can shift the economy toward capital-intensive growth paths instead.



Rogoff concludes that this isn&#8217;t going to be a deflationary story like it&#8217;s being projected, while adding that &#8220;this could actually make life harder for central banks, not easier.&#8221;



<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Found one! <a href="https://t.co/BClpXhaWFc">https://t.co/BClpXhaWFc</a> <a href="https://t.co/6G4caRbggW">pic.twitter.com/6G4caRbggW</a>&mdash; Dwarkesh Podcast (@dwarkeshpodcast) <a href="https://twitter.com/dwarkeshpodcast/status/1937591807770051054?ref_src=twsrc%5Etfw">June 24, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Why It Matters: Rogoff offers a contrarian take on the predictions made by several experts and economists on the matter in recent months.



The CEO of OpenAI, Sam Altman, recently said that AI would have a <a href="https://www.benzinga.com/news/25/03/44312626/sam-altman-warns-ai-will-be-deflationary-but-says-openais-biggest-constraint-isnt-data-or-demand-its">deflationary effect</a> on the global economy, something he says is underappreciated and misunderstood by investors.



<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">As I've said, AI is a deflationary nuclear bomb. The cheaper it gets, the cheaper everything gets… electricity is the other one. No one believes it now but we are reaching the deflationary tipping point there too, which accelerates AI…which accelerates cheaper energy and… <a href="https://t.co/Qa6yjKiAPx">https://t.co/Qa6yjKiAPx</a>&mdash; Raoul Pal (@RaoulGMI) <a href="https://twitter.com/RaoulGMI/status/1838406207641653606?ref_src=twsrc%5Etfw">September 24, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Investor and macroeconomist Raoul Pal, too, has echoed similar claims, having referred to artificial intelligence technology as a &#8220;deflationary nuclear bomb.&#8221;



He said that &#8220;The cheaper it [AI] gets, the cheaper everything gets&#8230; electricity is the other one,&#8221; in a post on X, late last year. 



Read More: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/06/46046476/barack-obama-warns-ai-revolution-is-not-hype-says-youre-going-to-start-seeing-shifts">Barack Obama Warns AI Revolution Is &#8216;Not Hype,&#8217; Says &#8216;You&#8217;re Going To Start Seeing Shifts&#8230;&#8217;</a></li>
</ul>

Ken Rogoff Warns AI's Hunger For Power Could Send Interest Rates Soaring: 'You're Going To See Even More Spending, Not Less'

U.S. equities rallied Tuesday morning as investor sentiment improved following a ceasefire agreement between Israel and Iran, confirmed by both President Donald Trump and Israeli <a href="https://www.benzinga.com/news/politics/25/06/46072859/trump-says-israel-is-not-going-to-attack-iran-after-ceasefire-violation-turn-around-and-head-home">Prime Minister Benjamin Netanyahu</a>. 



The Nasdaq 100 jumped 1.6% to 22,200 by 12:45 p.m. ET, putting its February all-time high of 22,222 within striking distance. 



The tech-heavy index also formed a golden cross—a bullish chart pattern where the 50-day moving average moves above the 200-day, often seen as a signal of sustained upward momentum.



All major indexes posted gains of more than 1%. The S&amp;P 500 climbed to 6,100, nearing its record high of 6,147, while the Dow Jones Industrial Average advanced to 43,120.



Oil prices plunged 5% to $64 a barrel, extending Monday's 7.2% drop and echoing the steep two-day declines observed in early April.



Sector performance was broadly positive, with technology and communication services leading the rally. Energy and consumer staples were the only sectors in negative territory.



The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) rose 1.8% to a record $247.26. Within the Magnificent Seven, Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) surged 2.5%, outpacing peers.



Semiconductor stocks rebounded sharply, with the iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) rallying 3.7%, recovering to levels last seen before the January selloff triggered by DeepSeek-related concerns.



Gold prices fell 1.5% to $3,320 per ounce, as investor demand for safe-haven assets weakened amid reduced geopolitical risk.



Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) edged up 0.5% to $106,000, following a 4.3% rally on Monday. 



<h3 class="wp-block-heading">Tuesday&#8217;s Performance In Major US Indices, ETFs</h3>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Major Indices</td><td>Price</td><td>1-day %chg</td></tr><tr><td>Nasdaq 100</td><td>22,199.49</td><td>1.6%</td></tr><tr><td>Russell 2000</td><td>2,160.13</td><td>1.3%</td></tr><tr><td>Dow Jones</td><td>43,117.36</td><td>1.3%</td></tr><tr><td>S&amp;P 500</td><td>6,095.41</td><td>1.2%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 12:45 p.m. ET</figcaption></figure>



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



<ul class="wp-block-list">
<li>The&nbsp;Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) rose 1.2% to $559.39.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 1.2% to $430.75.</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>)&nbsp;rallied 1.5% to $539.43.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) edged up by 1.2% to $214.36.</li>



<li>The&nbsp;Technology&nbsp;Select Sector SPDR Fund outperformed, up 1.9%; the&nbsp;Energy&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down 1.1%.</li>
</ul>



<h3 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h3>



<ul class="wp-block-list">
<li>Carnival plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) rallied 7% after reporting stronger-than-expected quarterly results. </li>



<li>Other cruise and travel stocks rose, with Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) up 4.5%, Royal Caribbean Cruised Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>), up 2.2% and Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>) up 2.8%. </li>



<li>Uber Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NASDAQ">UBER</a>) rallied over 8% after launching its autonomous ride-hailing service in Atlanta in partnership with Waymo, covering a 65-square-mile area.</li>



<li>Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) soared over 10% after the Senate passed the stablecoin bill. </li>



<li>Shares of defense contractors tumbled following the ceasefire agreement between Iran and Israel. Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>), Northrop Grumman Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>) and RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) each fell by about 3%. </li>
</ul>



Now Read: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/economic-data/25/06/46077396/powell-interest-rates-trump-inflation-tariffs">Will The Fed Cut Rates In 2025? Powell Says It All Depends On Tariffs </a></li>
</ul>



Image: Shutterstock

Regulations

BKNG

COIN

NCLH

UBER

Tech Stocks Eye Record Highs, Crude Drops To $64 On Iran-Israel Truce: What's Driving Markets Tuesday?

Federal Reserve Chair Jerome Powell told Congress Tuesday that while inflation has cooled from its 2022 peak, it remains &#8220;somewhat elevated,&#8221; and the central bank is not ready to <a href="https://www.benzinga.com/topic/interest-rates">adjust interest rates, yet. </a>



However, he said the Fed is "well positioned to wait" for more clarity before making moves, and a "significant majority" of committee members expect to cut rates later this year.



<h3 class="wp-block-heading">Tariffs Could Reshape Fed&#8217;s Inflation Outlook</h3>



Much of the near-term policy uncertainty revolves around tariffs. Powell said the inflationary effects of recent tariff increases—especially those announced earlier this year—could be "short-lived" or potentially "more persistent," depending on their scale and speed of price transmission.



See Also: <a href="https://www.benzinga.com/markets/tech/25/06/46074385/nasdaq-seasonality-summer-record-highs">Nasdaq 100&#8217;s Summer Sweet Spot Is Here — And It Rarely Disappoints</a>



"Increases in tariffs this year are likely to push up prices and weigh on economic activity," Powell said, acknowledging risks to both consumer prices and business investment. 



He indicated the central bank is monitoring how tariffs ripple through supply chains and consumer pricing. 



<h3 class="wp-block-heading">What Could Trigger Rate Cuts This Year?</h3>



Powell rebutted lawmakers&#8217; concerns about a recession, arguing that the U.S. economy isn't contracting despite a negative first-quarter GDP print.



The Fed Chair emphasized that key indicators do not reflect the sustained weakness typical of a recession.



When asked how the Fed would act if price stability and full employment goals conflicted, Powell said the committee would prioritize whichever mandate was further from its target.



"We look at the two goals and see which one is farther from its goal," he said, noting that the Fed would then assess how quickly each could return to target.



But Powell was clear: "We are not there yet."



Powell left the door open for rate cuts—particularly if inflation comes in weaker than expected or if labor market data deteriorates further.



"We could see inflation come in not as strong as expected," he said. 



"If that&#8217;s the case, we would suggest cutting sooner. Also, a weakening labor market would suggest cutting sooner."



Despite holding rates steady in June, Powell confirmed that "a significant majority of the committee feels it will be appropriate to reduce rates later this year."



Powell sidestepped questions about President Donald Trump's pressure on the Federal Reserve to cut interest rates. 



On Tuesday, Trump accused Powell of triggering long-term economic damage, writing that interest rates should be "at least two to three points lower" and claiming it would "save the USA $800 billion per year." 



<h3 class="wp-block-heading">Trump's Iran Truce Triggers Wall Street Rally</h3>



Markets rallied following Trump's announcement that a ceasefire between Israel and Iran would hold, calming tensions that had rattled energy markets earlier this month. 



The S&amp;P 500 rose 0.9% to 6,080, while the Nasdaq 100 gained 1.2%. The Russell 2000, which tracks small caps, climbed 1.3%.



Top gainers in the S&amp;P 500 included Carnival Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>), up 9.5%, and Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), up 9.3%. 



Oil prices fell 4.7% after tumbling 7.2% on Monday. 



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Fed Chair Powell LIVE &#x7C; Semiannual Monetary Policy Report to Congress &#x7C; Day 1 &#x7C; June 24, 2025" width="500" height="281" src="https://www.youtube.com/embed/dey0Q0MGmG8?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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<li><a href="https://www.benzinga.com/markets/tech/25/06/46074385/nasdaq-seasonality-summer-record-highs">Nasdaq 100&#8217;s Summer Sweet Spot Is Here &#8211; And It Rarely Disappoints </a></li>
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Image: Shutterstock

Federal Reserve

Will The Fed Cut Rates In 2025? Powell Says It All Depends On Tariffs

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