Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) has had a bruising start to 2025, with its stock down about 18% year-to-date and underperforming the broader stock market by 22%—its worst <a href="https://www.benzinga.com/general/education/25/05/45675595/apple-eyes-worst-month-vs-sp-500-since-2018-but-history-says-buy-the-dip-now">half-year stretch since 2013.</a> 



But as July kicks off, investors may find a surprisingly bullish signal in an unexpected place: the calendar.



<h3 class="wp-block-heading">Why Has Apple Struggled So Much In 2025?</h3>



The first half of the year was defined by a perfect storm for Apple—trade tensions, delays in product innovation and a growing AI gap all chipped away at investor confidence.



One of the biggest headwinds came from President Donald Trump&#8216;s renewed tariff agenda. In 2024, Apple generated 64% of its total revenue from overseas, with Greater China and Europe being among its most profitable regions. But in early 2025, trade-related uncertainty soured consumer sentiment abroad, especially in China.



The numbers confirm it: in the first quarter of 2025, Apple's revenue from Greater China dropped 13% year-over-year to $16.37 billion, down from $18.25 billion during the same quarter of 2024. Local rivals, such as Huawei and Xiaomi, gained market share, while demand for iPhones softened.



Then came Apple's AI problem. While Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), and Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) captured market buzz with new AI-driven features and products, Apple offered few details.



With no firm AI roadmap and delays around the iPhone 17 and the Vision Pro international rollout, many investors began rotating out of Apple into higher-growth tech names like Nvidia, Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>)



<h3 class="wp-block-heading">Can Apple Turn Things Around In July?</h3>



On the surface, Apple seems out of favor. But dig into the seasonality, and July could offer the kind of bullish argument that flips the narrative.



Apple's seasonal gains in July are unmatched. Over the past 20 years, the stock has ended July higher 17 times, with an average return of 7.6%. 



Even more impressive, Apple is riding a 9-year winning streak in July. The best performances came in 2022 (+18.9%) and 2006 (+18.6%). 



Expand the scope to 30 years, and the signal remains intact: Apple averaged a 7.3% gain in July, with a 77% win rate (23 positive closes out of 30).



The biggest drawdowns occurred in 2001 (-19.2%), 2002 (-13.9%), and 2008 (-5.1%)—but those were years defined by broader market crises. 



More recently, pullbacks have been minor, like -3.3% in 2015 or -0.6% in 2004.



Apple's relative performance versus the S&amp;P 500 in July has been positive in 77% of the past 30 years, with an average outperformance of 5.8%.



No other S&amp;P 500 stock has matched that consistency or magnitude over the same period.



In short, Apple hasn't just risen in July—it's crushed the market in July, time and time again. And with sentiment scraping cycle lows in 2025, history suggests July has often been Apple's golden window for a rebound.



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><thead><tr><th>Year</th><th>Apple July Return (%)</th><th>AAPL vs. S&amp;P 500 (%)</th></tr></thead><tbody><tr><td>1994</td><td>27.12</td><td>+23.24</td></tr><tr><td>1995</td><td>-3.10</td><td>-6.08</td></tr><tr><td>1996</td><td>4.76</td><td>+9.78</td></tr><tr><td>1997</td><td>22.81</td><td>+13.91</td></tr><tr><td>1998</td><td>20.70</td><td>+22.12</td></tr><tr><td>1999</td><td>20.24</td><td>+24.22</td></tr><tr><td>2000</td><td>-2.98</td><td>-1.37</td></tr><tr><td>2001</td><td>-19.18</td><td>-18.13</td></tr><tr><td>2002</td><td>-13.88</td><td>-6.53</td></tr><tr><td>2003</td><td>10.60</td><td>+8.83</td></tr><tr><td>2004</td><td>-0.61</td><td>+2.91</td></tr><tr><td>2005</td><td>15.87</td><td>+11.84</td></tr><tr><td>2006</td><td>18.67</td><td>+18.07</td></tr><tr><td>2007</td><td>7.96</td><td>+11.53</td></tr><tr><td>2008</td><td>-5.07</td><td>-4.13</td></tr><tr><td>2009</td><td>14.72</td><td>+6.80</td></tr><tr><td>2010</td><td>2.27</td><td>+8.85</td></tr><tr><td>2011</td><td>16.33</td><td>+18.88</td></tr><tr><td>2012</td><td>4.58</td><td>+3.28</td></tr><tr><td>2013</td><td>14.12</td><td>+8.74</td></tr><tr><td>2014</td><td>2.87</td><td>+4.45</td></tr><tr><td>2015</td><td>-3.29</td><td>-5.16</td></tr><tr><td>2016</td><td>9.01</td><td>+3.75</td></tr><tr><td>2017</td><td>3.27</td><td>+1.96</td></tr><tr><td>2018</td><td>2.80</td><td>+3.58</td></tr><tr><td>2019</td><td>7.64</td><td>+1.40</td></tr><tr><td>2020</td><td>16.51</td><td>+6.08</td></tr><tr><td>2021</td><td>6.50</td><td>+2.37</td></tr><tr><td>2022</td><td>18.86</td><td>+9.92</td></tr><tr><td>2023</td><td>1.28</td><td>+3.06</td></tr><tr><td>2024</td><td>5.44</td><td>+1.18</td></tr></tbody><tfoot><tr><td>Average gain</td><td>7.3%</td><td>5.8%</td></tr><tr><td>Win ratio</td><td>77%</td><td>71%</td></tr></tfoot></table><figcaption class="wp-element-caption">Source: Author&#8217;s own elaboration based on TradingView data</figcaption></figure>



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/06/46180484/nvidia-palantir-tech-stocks-to-buy-q3-2025-sectors">Nvidia, Palantir Fuel Historic Tech Rally — And It&#8217;s Far From Done</a></li>
</ul>



Photo: Shutterstock

Equities

Large Cap

Emerging Markets

Tech

AAPL

AVGO

GOOGL

MSFT

NVDA

PLTR

Apple Stock Had A Nightmare Year — But It May Be Nearing A Turning Point

Wedbush analyst Dan Ives predicts a weak performance for Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) amidst a fallout between CEO Elon Musk and President Donald Trump.



What Happened: On Tuesday, Ives posted on X his prediction about Tesla&#8217;s performance, attributing it to the strained relationship between Musk and Trump. He described the situation as a &#8220;junior high school friendship gone bad.&#8221; However, he added that it would eventually stabilize.



&#8220;At the end of the day Musk needs Trump and Trump needs Musk. Will settle down,&#8221; posted Ives.



<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">Tesla to be weak this morning as the Street will show concern that the Trump and Musk once BFF relationship now backfires and turns into a junior high school friendship gone bad into an enemy. At the end of the day Musk needs Trump and Trump needs Musk. Will settle down &#x1f94a;&#x1f91d;&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1940022572625600815?ref_src=twsrc%5Etfw">July 1, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



SEE ALSO: <a href="https://benzinga.com/markets/macro-economic-events/25/07/46187826/mike-pences-advocacy-group-launches-campaign-to-extend-trumps-2017-tax-cuts-report" target="_blank" rel="noreferrer noopener">Mike Pence&#8217;s Advocacy Group Launches Campaign To Extend Trump&#8217;s 2017 Tax Cuts: Report</a>



Why It Matters: The relationship between Musk and Trump has been a topic of interest recently. Trump has been vocal about the subsidies Musk&#8217;s companies receive, suggesting that without them, Musk would have to &#8220;close up shop and head back home to South Africa.&#8221;



This public criticism by Trump has had an impact on Tesla&#8217;s stock. Following Trump&#8217;s comments, Tesla&#8217;s stock fell by <a href="https://www.benzinga.com/markets/tech/25/07/46189226/tesla-stock-falls-nearly-5-in-tuesday-pre-market-whats-going-on">nearly 5% </a>during the Tuesday pre-market session. Musk&#8217;s response to Trump&#8217;s spending bill also reignited political comeback rumors, further affecting the stock.



Investment advisor Ross Gerber criticized Tesla&#8217;s board for remaining silent amid the Trump-Musk Feud and the federal subsidies. He suggested that Musk&#8217;s enabling of Trump&#8217;s presidency would eventually lead to a power struggle.



<ul class="wp-block-list">
<li>READ MORE: <a href="https://benzinga.com/crypto/25/06/46186644/bitcoin-ethereum-dogecoin-slide-even-as-q2-turns-profitable-for-crypto-analyst-warns-about-decline-in-btc-if-the-apex-coin-doesnt-close-above-this-level" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Slide Even As Q2 Turns Profitable For Crypto: Analyst Warns About Decline In BTC If The Apex Coin Doesn&#8217;t Close Above This Level &#8211; Grayscale Bitcoin Mini Trust (BTC) Common</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.

News

TSLA

Tesla Stock Slump Tied To Trump-Musk 'Junior High School Friendship' Gone Sour, Says Dan Ives — But Predicts It Will 'Settle Down'

Two Chinese artificial intelligence chip startups, Moore Threads and MetaX, are planning to raise a combined 12 billion yuan ($1.65 billion) through initial public offerings (IPOs). 



What Happened: The two companies are betting on the U.S. export restrictions to boost the demand for their products in China, Reuters reported. 



Moore Threads, based in Beijing, aims to raise 8 billion yuan, while MetaX, based in Shanghai, is looking to raise 3.9 billion yuan. Both companies are planning to list on the STAR Market, the tech-focused board of the Shanghai Stock Exchange



These fundraising plans highlight the increasing efforts of Chinese chipmakers to capitalize on Beijing&#8217;s drive to develop domestic champions in graphics processing units (GPUs), which are crucial for AI development.



See Also: <a href="https://benzinga.com/markets/tech/25/06/46159877/steve-jobs-once-spent-two-weeks-choosing-a-washing-machine-for-his-palo-alto-home-and-he-got-more-thrill-out-of-it-than-any-piece-of-high-tech-in-ages">Steve Jobs Once Spent Two Weeks Choosing A Washing Machine For His Palo Alto Home And He Got More &#8216;Thrill&#8217; Out Of It Than Any Piece Of High Tech In Ages &#8211; Benzinga</a>



The U.S. has been tightening export restrictions on China, with the latest rules implemented in April banning the shipment of Nvidia&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) H20 chips, one of its most popular chips, to China. These restrictions have led to a sense of urgency in Beijing to develop domestic chip champions.



Both Moore Threads and MetaX have cited U.S. sanctions as a major risk to their development, but have also emphasized that the restrictions could create significant market opportunities. The two companies design GPUs to compete with Nvidia products and have reported significant losses over the last three years, largely attributed to heavy research and development spending.



Why It Matters: The move by Moore Threads and MetaX to go public amid U.S. export sanctions is part of a larger trend of Chinese companies seeking to <a href="https://www.benzinga.com/markets/equities/25/03/44350873/nvidia-faces-new-ai-challenge-as-chinese-start-up-unveils-framework-to-cut-reliance-on-its-gpus">reduce their reliance</a> on foreign chipmakers. In May, Alibaba (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), Baidu (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>), and Tencent (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>) began switching to <a href="https://www.benzinga.com/markets/asia/25/05/45692725/alibaba-and-baidu-turn-to-chinese-ai-chips-as-us-sanctions-squeeze-nvidia-supply">homegrown chips</a> as U.S. export controls and a dwindling stockpile of Nvidia processors eroded their ambitions. 



The move also aligns with China&#8217;s broader push for <a href="https://www.benzinga.com/government/regulations/25/05/45298562/chipmakers-enter-bullish-seasonal-window-5-stocks-that-could-outperform">self-sufficiency in chips</a>, with major Chinese automakers aiming for 100% domestic chip supply by 2027. This push is being <a href="https://www.benzinga.com/markets/equities/25/06/45966176/after-nvidia-pauses-china-outlook-top-chinese-automakers-race-to-ditch-foreign-chips-aim-for-100-domestic-supply-by-2027-report">shepherded</a> by China&#8217;s Ministry of Industry and Information Technology, which regularly requires self-assessments of domestic chip adoption rates.



Read Next: <a href="https://benzinga.com/markets/tech/25/06/46186013/mark-zuckerberg-once-predicted-that-this-technology-would-replace-your-phone-a-decade-later-how-far-">Mark Zuckerberg Once Predicted That This Technology Would Replace Your Phone — A Decade Later, How Far Is Meta From Delivering On A &#8216;More Natural&#8217; Future</a>



Photo: Maxx-Studio On Shutterstock

BABA

BIDU

TCEHY

Nvidia's Chinese Rivals Look To Cash In On US Tech Ban: Moore Threads, MetaX Plot $1.65 Billion IPO

Shares of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) declined 4.78% during Tuesday pre-market session after CEO Elon Musk reignited political comeback rumors following his criticism of President Donald Trump&#8216;s spending bill.



What Happened: Late Monday, Musk expressed his disapproval of the spending bill on social media platform X, stating, &#8220;If this insane spending bill passes, the America Party will be formed the next day.&#8221; He further criticized the existing political system, calling for alternative parties to give Americans a voice.



Musk&#8217;s criticism of the bill, which he claims&nbsp;would increase the U.S. debt&nbsp;ceiling by $5 trillion, extends to both Republicans and Democrats. He also warned politicians supporting the bill that they would lose their primaries next year.



President Trump responded to Musk&#8217;s criticism by suggesting that the Tesla CEO&#8217;s empire relies heavily on federal subsidies. He stated on Truth Social, &#8220;Elon may get more subsidy than any human being in history, by far, and without subsidies, Elon would probably have to close up shop and head back home to South Africa.&#8221;



Additionally, Tesla saw over <a href="https://www.benzinga.com/markets/tech/25/07/46189042/elon-musk-led-teslas-european-woes-worsen-with-sales-down-over-60-in-sweden-and-denmark">60% plunge</a> in vehicle registrations in Denmark and Sweden during June, after witnessing strong sales in Norway. 



SEE ALSO: <a href="https://benzinga.com/crypto/25/06/46186644/bitcoin-ethereum-dogecoin-slide-even-as-q2-turns-profitable-for-crypto-analyst-warns-about-decline-in-btc-if-the-apex-coin-doesnt-close-above-this-level" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Slide Even As Q2 Turns Profitable For Crypto: Analyst Warns About Decline In BTC If The Apex Coin Doesn&#8217;t Close Above This Level</a>



Why It Matters: The spending bill and the proposed cuts have been criticized by experts and could impact Tesla and the broader automotive industry&#8217;s EV push, as it proposes axing the $7,500 federal EV credit on all new EVs sold in the U.S.



Meanwhile, investor Gary Black <a href="https://www.benzinga.com/markets/large-cap/25/06/46161226/gary-black-warns-tesla-q2-deliveries-will-disappoint-says-cheaper-models-could-cannibalize-sales-and-see-ideal-re-entry-22-below-current-levels">warned </a>that Tesla&#8217;s Q2 deliveries could fall short of estimates, potentially due to the political controversy surrounding the spending bill.



Furthermore, Tesla&#8217;s sales in Canada have reportedly dropped to nearly zero, as highlighted by researcher Troy Teslike.&nbsp;<a href="https://www.benzinga.com/markets/tech/25/06/46162850/tesla-sales-in-canada-have-dropped-to-nearly-zero-says-researcher-expects-elon-musk-led-ev-giant-may-report-losses-starting-2026">According to Teslike</a>, Tesla may start reporting GAAP losses from Q1 2026, possibly due to the political controversy and the proposed cuts in the spending bill.



<ul class="wp-block-list">
<li>READ MORE: <a href="https://www.benzinga.com/markets/tech/25/06/46162898/elon-musk-stopped-believing-in-mars-dream-as-a-political-project-in-2024-says-peter-theil-amid-woke-ai-and-socialist-government-fears">Elon Musk Stopped Believing In Mars Dream As A &#8216;Political Project&#8217; In 2024, Says Peter Thiel Amid &#8216;Woke AI&#8217; And &#8216;Socialist Government&#8217; Fears</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.

Tesla Stock Falls Nearly 5% In Tuesday Pre-Market: What's Going On?

U.S. futures slipped on Tuesday after two days of record-setting advances. Futures of major benchmark indices were trading lower.



Nasdaq and S&amp;P 500 scaled new highs on Monday. The Donald Trump administration is reportedly lowering its aspirations for comprehensive reciprocal deals. Instead, it is <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46188192/trump-administration-reportedly-scales-back-ambitions-for-comprehensive-trade-deals-before-tariff-deadline">favoring narrower agreement</a>s to avoid the reimposition of U.S. tariffs.



According to a Reuters report, the U.S. will resume trade negotiations with Canada immediately after Ottawa <a href="https://www.benzinga.com/markets/tech/25/06/46161429/canada-rescinds-digital-services-tax-after-trump-calls-it-a-blatant-attack-on-america">rescinded its digital services tax</a> targeting U.S. technology firms.



Meanwhile, Bloomberg <a href="https://www.bloomberg.com/news/articles/2025-06-30/eu-to-accept-trump-s-universal-tariff-but-seeks-key-exemptions">reported</a> that the European Union is willing to accept a trade arrangement with the U.S. that includes a 10% universal tariff on many of the bloc's exports. However, it wants the U.S. to commit to lower rates on key sectors such as pharmaceuticals, alcohol, semiconductors, and commercial aircraft. 



The 10-year Treasury bond yielded 4.19% and the two-year bond was at 3.70%. 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 78.8% 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>-0.10%</td></tr><tr><td>S&amp;P 500</td><td>-0.23%</td></tr><tr><td>Nasdaq 100</td><td>-0.28%</td></tr><tr><td>Russell 2000</td><td>-0.19%</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 lower in premarket on Tuesday. The SPY was down 0.15% at $616.92, while the QQQ declined 0.19% to $550.60, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro </a>data.



Cues From Last Session:



U.S. stocks settled higher on Monday, with the S&amp;P 500 hitting another record close, as information technology, financial, and real estate sectors recorded the biggest gains. However, energy and consumer discretionary stocks bucked the overall market trend, closing the session lower.



President Trump signaled openness to extending the July 9 deadline for reinstating reciprocal tariffs, adding that he remained optimistic about reaching key agreements in the coming weeks.



On the economic front, the Chicago PMI fell to 40.4 for June from 40.5 in May, and compared to market estimates of 42.7. The Dallas Fed's general business activity index for Texas manufacturing climbed to a reading of -12.7 in June compared to -15.3 in the previous month.



Hewlett-Packard Enterprise Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) and Juniper Networks Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNPR#NYSE">JNPR</a>) reached an agreement with the U.S. Department of Justice (DOJ) on Saturday.



<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>0.47%</td><td>20,369.73</td></tr><tr><td>S&amp;P 500</td><td>0.52%</td><td>6,204.95</td></tr><tr><td>Dow Jones</td><td>0.63%</td><td>44,094.77</td></tr><tr><td>Russell 2000</td><td>0.12%</td><td>2,175.04</td></tr></tbody></table></figure>



Insights From Analysts:



Despite signals of a cooling economy and what he describes as a &#8220;too tight&#8221; Federal Reserve policy, economist Jeremy Siegel sees a bullish path ahead for equities, predicting major indexes could climb another &#8220;5%-10%&#8221; before any significant reckoning from tariff hits.



&#8220;FOMO could add another 5%-10% to major indexes before earning a reckoning with any tariff earnings hit,&#8221; he said.



Markets, already notching fresh all-time highs, are benefitting from a confluence of factors, including de-escalated geopolitical tensions and a retreat in oil prices, he explains.



Siegel points to falling bond yields, with the 10-year Treasury in the &#8220;4.25%-4.30% range,&#8221; as a clear sign that the Fed&#8217;s stance remains restrictive. While personal income data has cooled and housing is &#8220;feeling the pinch of too-high interest rates,&#8221; Siegel believes these factors provide &#8220;ample cover&#8221; for the Fed to pivot.



However, he doesn&#8217;t expect a rate cut at the July 30 meeting, anticipating 25-basis point cuts at each of the subsequent three meetings into early 2026.



According to Siegel, corporate America is coping, with companies like Nike beating estimates despite a &#8220;tariff hit.&#8221; The prevailing skepticism among traders, evidenced by an elevated VIX, suggests that &#8220;FOMO could add another 5%-10% to major indexes.&#8221;



This momentum, he states, will be driven by &#8220;squeezed shorts, AI productivity and margin improvements,&#8221; emphasizing that &#8220;AI adoption can drive outsized efficiency gains&#8221; even in less direct plays like small-cap value.



Meanwhile, giving her outlook on Gold, Aksha Kamboj, the executive chairperson of Aspect Global Ventures, said, &#8220;Gold prices appear to have stabilized at lower levels and are gradually moving higher, driven by expectations that the U.S. Federal Reserve may implement deeper interest rate cuts in 2025 than previously forecast.&#8221;



&#8220;Key events such as the upcoming July 9 tariff deadline and this week's jobs data are likely to be major market catalysts. Strong demand from central banks and domestic buyers is expected to provide support to the precious metal,&#8221; she added.



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 Tuesday:



<ul class="wp-block-list">
<li>June&#8217;s S&amp;P final U.S. manufacturing PMI will be out by 9:45 a.m., and May&#8217;s construction spending and job openings data will be released by 10:00 a.m. ET.</li>



<li>June&#8217;s ISM manufacturing data will be out by 10:00 a.m., whereas auto sales data will also be released on Tuesday.</li>
</ul>



Stocks In Focus:



<ul class="wp-block-list">
<li>MSC Industrial Direct Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSM#NYSE">MSM</a>) was up 0.80% in premarket on Tuesday as analysts expect it to report quarterly earnings of $1.03 per share on revenue of $970.23 million before the opening bell.</li>



<li>Constellation Brands Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STZ#NYSE">STZ</a>) was 0.037% below the flatline as analysts expect it to report earnings of $3.31 per share on revenue of $2.55 billion, after the closing bell.</li>



<li>Greenbrier Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBX#NYSE">GBX</a>) was 0.11% higher as analysts expect it to report quarterly earnings of 98 cents per share on revenue of $785.72 million after the closing bell.</li>



<li>Nektar Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKTR#NASDAQ">NKTR</a>) tumbled 2.98% after disclosing a proposed public offering of common stock.</li>



<li>Progress Software Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRGS#NASDAQ">PRGS</a>) slipped 3.71% after posting better-than-expected earnings for the second quarter, while sales missed estimates. The company also raised its guidance for FY2025.</li>



<li>AeroVironment Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVAV#NASDAQ">AVAV</a>) declined 4.90% after it announced plans to offer $750 million of common stock and $600 million of convertible senior notes in proposed public offerings.</li>



<li>Wolfspeed Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>) surged over 80% in premarket after implementing a prepackaged restructuring plan supported by most of its lenders. This move aims to cut its debt by ~$4.6 billion or 70% and annual cash interest payments by ~60%, positioning it for accelerated growth and profitability by late third quarter.</li>



<li>Prestige Wealth Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PWM#NASDAQ">PWM</a>) zoomed 68.09% after divesting its Prestige Assets International Inc. subsidiary and its three units on June 25, to sharpen its focus on technology-driven wealth management.</li>



<li>Bitmine Immersion Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMNR#NYSE">BMNR</a>) gained 21.33% after announcing a $250 million private placement to launch its Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) Treasury Strategy, aiming to become one of the largest publicly traded ETH holders.</li>



<li>Gibo Holdings Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GIBO#NASDAQ">GIBO</a>) declined over 7% after testing its AI-driven GIBO Click engine on uDrama, a rapidly growing global short drama platform.</li>
</ul>



Commodities, Gold, And Global Equity Markets:



Crude oil futures were trading higher in the early New York session by 0.14% to hover around $65.20 per barrel.



Gold Spot US Dollar rose 1.11% to hover around $3,339.46 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was lower by 0.33% at the 96.5570 level.



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



Read Next:



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<li><a href="https://www.benzinga.com/markets/equities/25/07/46188237/bill-gates-is-betting-two-thirds-of-his-foundations-portfolio-in-these-3-stocks">Bill Gates Is Betting Two-Thirds Of His Foundation&#8217;s Portfolio In These 3 Stocks</a></li>
</ul>



Photo courtesy: Shutterstock

$ETH

AVAV

BMNR

GIBO

JNPR

NKTR

PRGS

WOLF

US Stock Futures Slip After Two Days Of Record Advances: 'FOMO Could Add Another 5%-10%…,' Says Expert

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



U.S. stocks settled higher on Monday, with the S&amp;P 500 hitting another record close.



President Donald Trump signaled openness to extending the July 9 deadline for reinstating reciprocal tariffs, adding that he remained optimistic about reaching key agreements in the coming weeks. Meanwhile, Canada&#8217;s withdrawal of its digital services tax helped improve the outlook for U.S. tech firms and reignited momentum in trade negotiations with Washington.



On the economic front, the Chicago PMI fell to 40.4 for June from 40.5 in May, and compared to market estimates of 42.7. The Dallas Fed&#8217;s general business activity index for Texas manufacturing climbed to a reading of -12.7 in June compared to -15.3 in the previous month.



Hewlett-Packard Enterprise Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) and Juniper Networks Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNPR#NYSE">JNPR</a>) reached an agreement with the U.S. Department of Justice (DOJ) on Saturday.



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



The Dow Jones closed higher by around 275 points to 44,094.77 on Monday. The S&amp;P 500 rose 0.52% to 6,204.95, while the Nasdaq Composite climbed 0.47% to 20,369.73 during Monday's session.



Investors are awaiting earnings results MSC Industrial Direct Co., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSM#NYSE">MSM</a>), Constellation Brands Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STZ#NYSE">STZ</a>) and The Greenbrier Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBX#NYSE">GBX</a>) today.



What is CNN Business Fear &amp; Greed Index?



At a current reading of 66.9, the index remained in the &#8220;Greed&#8221; zone on Monday, versus a prior reading of 63.8.



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/analyst-stock-ratings/price-target/25/06/46169288/5-stocks-in-the-spotlight-wall-streets-most-accurate-analysts-weigh-in">5 Stocks In The Spotlight: Wall Street&#8217;s Most Accurate Analysts Weigh In</a> </li>
</ul>



Photo courtesy: Shutterstock

Earnings

Long Ideas

Markets

Trading Ideas

S&P Hits Record High At The End Of Q2: Investor Sentiment Improves, Fear Index Remains In 'Greed' Zone

Leading cryptocurrencies fell on Monday amid speculation that the Trump administration may have a &#8220;shadow Fed" before the term of Federal Reserve Chair Jerome Powell ends.



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 10:30 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>-1.15%</td><td>$107,374.79</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>-0.46%</td><td>$2,495.63</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>-2.05%</td><td>$0.1656</td></tr></tbody></table></figure>



What Happened: Bitcoin tumbled to $106,759.65 in the early trading hours before settling to around $107,000 for the rest of the day. Trading volume spiked 13.33%, suggesting that sell pressure was high. Ethereum oscillated in the $2,400 range, with the occasional jump to $2,520.



Overall, the two blue-chip currencies delivered handsome returns during the second quarter. While Bitcoin jumped by 29.74%, Ethereum gained 36.78%, reversing its first-quarter downsides.



Moreover, Bitcoin's dominance rose from 61.3% to 64.5% during the quarter, while that of Ethereum increased from 8.2% to 9.1%.



Meanwhile, more than $185 million was liquidated from the cryptocurrency market in the last 24 hours, the majority of it being bullish long positions.



Bitcoin&#8217;s open interest fell 3.18% in the last 24 hours, although it surged nearly 30% during the second quarter.



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 10:30 p.m. ET)</th></tr></thead><tbody><tr><td>Bitcoin Cash (BSH)</td><td>+4.28%</td><td>$521.60</td></tr><tr><td>Algorand (ALGO)&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+3.79%</td><td>$0.191</td></tr><tr><td>Monero (XMR)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+2.65%</td><td>$320.70 </td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.31 trillion, following a modest drop of 0.71% in the last 24 hours.



Stocks ended the first half of 2025 on a high. The Dow Jones Industrial Average rose 275.50 points, or 0.63%, to end at 44,094.77. The S&amp;P 500 added 0.52% to post another record close at 6,204.95. The tech-heavy Nasdaq Composite gained 0.47% to notch a new record high at 20,369.73.



The U.S. equity market made a strong comeback in the second quarter, with the S&amp;P 500 and the Dow notching surges of 10.5% and 4.9%, respectively.



Treasury Secretary Scott Bessent said that the <a href="https://www.benzinga.com/news/politics/25/06/46165110/donald-trump-calls-fed-chair-jerome-powell-a-bad-person-who-keeps-rates-artificially-high-says-benchmark-should-drop-by-half">administration could nominate a replacement</a> for Jerome Powell as early as October, raising the prospect of a "shadow Fed," amid President Donald Trump's ongoing conflict with the incumbent Federal Reserve Chair over interest rates.



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



Analyst Notes: Widely followed cryptocurrency analyst Ali Martinez alerted bullish traders about Bitcoin's potential rejection, supported by a Stochastic RSI &#8220;death cross."



"A move back to $100,000 is possible unless we get a sustained close above $109,000," Martinez stated.



A death cross is a bearish chart pattern that occurs when a security&#8217;s short-term moving average drops below its longer-term moving average.



<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/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> is facing a key rejection while the Stoch RSI flashes a death cross on the daily chart. A move back to $100,000 is possible unless we get a sustained close above $109,000. <a href="https://t.co/H78AfRQrFw">pic.twitter.com/H78AfRQrFw</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1939633825283207605?ref_src=twsrc%5Etfw">June 30, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Widely followed cryptocurrency analyst Ali Martinez flagged $2,200 as the "most critical support" for Ethereum, failing to hold which could trigger a drop to $1,160.



<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 most critical support for Ethereum <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> sits at $2,200. If this level fails to hold, the next key area to watch is $1,160. <a href="https://t.co/UmLxCG41uZ">pic.twitter.com/UmLxCG41uZ</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1939655784230453699?ref_src=twsrc%5Etfw">June 30, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo: Antonio Gravante On Shutterstock.com



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



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46175268/ethereum-traders-target-4000-in-summer-whats-fueling-the-optimism">Ethereum Traders Target $4,000 In Summer: What&#8217;s Fueling The Optimism?</a></li>
</ul>

Cryptocurrency

Movers

$BTC

$DOGE

Bitcoin, Ethereum, Dogecoin Slide Even As Q2 Turns Profitable For Crypto: Analyst Warns About Decline In BTC If The Apex Coin Doesn't Close Above This Level

Macro strategist Raoul Pal commended Robinhood Markets&#8216; (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) decision to launch tokenized stock offerings on Monday, describing it as &#8220;democratization of finance.&#8221;



What happened: In an X post, Pal was reacting to a video of Robinhood CEO Vlad Tenev introducing the so-called "stock tokens," which will allow users in Europe to gain exposure to U.S. private companies such as SpaceX and OpenAI.



"The end of public vs. private markets is beginning. Capital formation too is more efficient in crypto markets. Lending markets too," Pal said.&nbsp;



The former Goldman Sachs executive deemed it as &#8220;democratization of finance&#8221; and predicted that the trend would only accelerate from here.



<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 end of public vs private markets is beginning. Capital formation too is more efficient in crypto markets. Lending markets too. This is democratization of finance and it&#39;s only going to accelerate from here&#8230; <a href="https://t.co/Z7fsKnzLul">https://t.co/Z7fsKnzLul</a>&mdash; Raoul Pal (@RaoulGMI) <a href="https://twitter.com/RaoulGMI/status/1939741800203526301?ref_src=twsrc%5Etfw">June 30, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46149584/why-crypto-investors-are-receiving-internal-revenue-service-warning-letters">Why Crypto Investors Are Receiving Internal Revenue Service Warning Letters</a>



Why It Matters: Robinhood <a href="https://www.benzinga.com/crypto/25/06/46174854/robinhood-just-made-crypto-simpler-and-way-more-powerful">unveiled a suite of products</a> during its event in France for its European customers. Apart from stock and ETF tokens, it introduced cryptocurrency perpetual futures for the EU region.



The firm has made a case to tokenize private stocks, encouraging policymakers to explore the untapped potential of blockchains in the U.S. capital markets. It even <a href="https://www.benzinga.com/25/05/45537142/robinhoods-push-to-bring-wall-street-on-blockchainbrokerage-firm-submits-proposal-to-sec-to-regulate-tokenized-assets">proposed a federal framework</a> to the SEC last month for bringing real-world assets on-chain



Some of the most disruptive tech companies in the U.S. are privately held, including Elon Musk's SpaceX and Sam Altman-founded OpenAI. SpaceX's valuation is <a href="https://www.benzinga.com/news/space/25/06/45764046/elon-musk-dismisses-reports-that-spacex-is-valued-at-480-billion-says-it-sounds-too-high-predicts-its-revenue-will-exceed-nasas-budget-in-2026">estimated</a> to be around $350 billion



Price Action:&nbsp; Shares of Robinhood rose 3.12% in after-hours trading after closing 12.8% higher at $93.63 during Monday&#8217;s trading session, according to&nbsp;<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>. Year-to-date, the stock has exploded more than 150%.



HOOD exhibited high Momentum and Growth scores as of this writing. Looking to filter out the top performers for a crypto-specific portfolio? Go to <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Benzinga Edge Stock Rankings</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 loading="lazy" decoding="async" width="555" height="346" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/30214639/image-449.png" alt="" class="wp-image-967645" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/30214639/image-449.png 555w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/30214639/image-449-300x187.png 300w" sizes="(max-width: 555px) 100vw, 555px" /></a></figure>



Photo Courtesy: dennizn on Shutterstock.com



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46148904/donald-trump-says-bitcoin-takes-a-lot-of-pressure-off-the-dollar">Donald Trump Says &#8216;Bitcoin Takes A Lot Of Pressure Off The Dollar&#8217;</a></li>
</ul>

Fintech

Government

Regulations

HOOD

Raoul Pal Says Robinhood Letting Users Trade OpenAI, SpaceX Through Blockchain Is 'Democratization Of Finance' — End Of Public Vs Private Markets Has Begun

On Monday, U.S. Treasury Secretary Scott Bessent responded to a question on whether he was willing to replace Jerome Powell as Federal Reserve chair.



What Happened: &#8220;I will do what the President wants,&#8221; Bessent said in an interview with Bloomberg TV on Monday, when asked about the likelihood of him heading the Central Bank after Powell&#8217;s term ends in May 2026.



He said, &#8220;I think I have the best job in D.C.,&#8221; pointing to the ongoing momentum within his department surrounding tax cuts, trade deals and major economic policies, while acknowledging that the administration was actively weighing options for Powell&#8217;s replacement.



See Also: <a href="https://www.benzinga.com/markets/macro-economic-events/25/06/46167638/fed-rate-cuts-may-not-be-a-win-for-stocks-warns-jpmorgan-expects-dollar-and-bond-yields-to-fall">Fed Rate Cuts May Not Be A Win For Stocks, Warns JPMorgan — Expects Dollar And Bond Yields To Fall</a>



According to Bessent, an announcement on this could come as early as October or November, while he also highlights an upcoming vacancy on the Federal Reserve Board in January, suggesting that it could play into the succession plan.



&#8220;There's a seat opening up, a 14-year seat opening up in January,&#8221; Bessent said. &#8220;So we've given thought to the idea that perhaps that person would go on to become the chair when Jay Powell leaves in May.&#8221;



When asked about the appointment of <a href="https://www.benzinga.com/markets/macro-economic-events/25/06/46131630/trump-appointing-a-shadow-chair-at-the-fed-has-put-dollar-under-pressure-meanwhile-china-is-dumping-the-greenback-and-hoarding-gold">a &#8220;Shadow Chair&#8221;</a> ahead of Powell&#8217;s departure, Bessent played down the concerns, replying, &#8220;Not necessarily. We&#8217;ll see.&#8221;



Why It Matters: Tensions have been flaring between Trump and Powell for the past several months, leading to growing concerns regarding <a href="https://www.benzinga.com/markets/25/04/44999600/feds-independence-could-disappear-in-a-week-says-economist-ken-rogoff-as-trump-thinks-hes-smarter-th">the Fed&#8217;s independence</a>.



Early this week, Trump once again called Powell a &#8220;stupid person&#8221; and &#8220;a bad person&#8221; for keeping interest rates &#8220;artificially high,&#8221; while arguing that the <a href="https://www.benzinga.com/news/politics/25/06/46165110/donald-trump-calls-fed-chair-jerome-powell-a-bad-person-who-keeps-rates-artificially-high-says-benchmark-should-drop-by-half">benchmarks should drop</a> to &#8220;1% or 2%.&#8221;



Trump further proposed a &#8220;bills over bonds&#8221; approach to dealing with the high interest rates on long-term debt, which involves the Treasury issuing more short-term debt at low interest rates, over longer duration bonds. 



This received quick <a href="https://www.benzinga.com/news/politics/25/06/46163670/trumps-bills-over-bonds-strategy-can-spell-doom-for-the-dollar-warns-craig-shapiro-got-gold-bitcoin">pushback from macro experts</a> such as Craig Shapiro, who say that such a move could spell doom for the U.S. Dollar.



Economist Nouriel Roubini has criticized Trump&#8217;s <a href="https://benzinga.com/25/04/44941184/roubini-trump-wants-a-rate-cutbut-powells-restraint-is-the-only-thing-saving-him-from-a-market-meltdown?_gl=1&#x2A;1yhww1y&#x2A;_gcl_au&#x2A;OTU0MzA1MzE4LjE3NDcwMTIxNDM.&#x2A;_ga&#x2A;ZGVsZXRlZA..&#x2A;_ga_V7ZK73W7N0&#x2A;czE3NTEzMzUyMTUkbzI3MyRnMSR0MTc1MTMzNTkzNiRqMTEkbDAkaDA.">attacks against Powell</a>, calling it &#8220;a repeated own goal,&#8221; since even if he got his way, it would only lead to higher bond yields, owing to the &#8220;de-anchoring of inflation expectations.&#8221;



Price Action: The 10-Year Treasury notes trade at 4.216%, the 30-Year at 4.759%, and the 2-Year at 3.721%. The U.S. Dollar Index (DXY) continues to test newer lows, trading at 96.774, down 11.57% since the beginning of Trump&#8217;s second term.



Photo Courtesy: Maxim Elramsisy On Shutterstock.com



Read More: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/personal-finance/management/25/06/46169828/howard-lutnicks-viral-fed-rant-claims-simple-formula-for-rate-cuts-heres-why-economists-are-cringing">Howard Lutnick&#8217;s Viral Fed Rant Claims &#8216;Simple Formula&#8217; for Rate Cuts—Here&#8217;s Why Economists Are Cringing</a></li>
</ul>

Bonds

Politics

Federal Reserve

Scott Bessent On Replacing Powell As Fed Chair: 'I Will Do What The President Wants' — Plays Down Shadow Chair Speculations

In a quarter that began with fears of a tech wreck following President Donald Trump&#8216;s sweeping tariff announcements, Wall Street&#8217;s tech darlings pushed sector benchmarks to one of their strongest quarterly gains on record, reigniting optimism for <a href="https://www.benzinga.com/tech">a continued summer rally</a>.



The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>), which tracks the broader tech sector, soared 22% during the second quarter of 2025. 



That marked its best quarterly performance since the second quarter of 2020, when central banks pumped liquidity into the system to combat the COVID-19 crisis, and its second-best quarter since the aftermath of the dot-com collapse in 2002.



From the April lows—hit just after Trump&#8217;s tariff policies were unveiled—the XLK has rocketed 45%, registering its strongest 13-week rally since June 2020 and second-best since the ETF was launched in 1998.



<h3 class="wp-block-heading">Chart: Tech Stocks Log Historic Quarter </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/2025/06/30145340/image-448-1024x528.png" alt="" class="wp-image-967444" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/30145340/image-448-1024x528.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/30145340/image-448-300x155.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/30145340/image-448-768x396.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/30145340/image-448-1536x792.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/30145340/image-448-2048x1056.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h2 class="wp-block-heading">5 Stocks Drove Over Half Of XLK&#8217;s Historic Rally</h2>



Five stocks were responsible for about two thirds of the tech sector&#8217;s total return during the quarter.



<ul class="wp-block-list">
<li>Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) was the single most important contributor. Shares of the AI darling jumped 43.2%, contributing 537 basis points, or 5.37%, to XLK&#8217;s quarterly performance thanks to its 14.6% weight. </li>



<li>Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>) followed closely. With a 14.24% weighting, it added 420 basis points to the index through a 31.8% price gain.</li>



<li>Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) climbed 62.2%, contributing 229 basis points to the sector performance. </li>



<li>Oracle Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NASDAQ">ORCL</a>) delivered a 56.5% return in the quarter, driving 154 basis points of performance for XLK.</li>



<li>Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) rocketed 59.7%, responsible for 141 basis points of the sector&#8217;s rise. The rally coincides with the software company&#8217;s expansive role within the Trump administration (Palantir <a href="https://sam.gov/opp/f71acee6010c423db4902446a59a690c/view" target="_blank" rel="noreferrer noopener">received</a> a <a href="https://www.fpds.gov/ezsearch/fpdsportal?q=PIID:%2270CTD022FR0000170%22&amp;s=FPDS.GOV&amp;templateName=1.5.3&amp;indexName=awardfull&amp;x=0&amp;y=0&amp;sortBy=SIGNED_DATE&amp;desc=Y" target="_blank" rel="noreferrer noopener">$30 million</a> contract to develop a tracking platform to aid Immigration and Customs Enforcement).</li>
</ul>



Together, these five stocks delivered 14.81 percentage points, accounting for nearly 67% of the XLK's total quarterly return.



Read Also: <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>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><thead><tr><th>Company</th><th>Q2 Price Return</th><th>XLK Weight</th><th>Contribution to XLK&#8216;s quarterly performance</th></tr></thead><tbody><tr><td>Nvidia Corp. </td><td>+43.2%</td><td>14.56%</td><td>+537 basis points (5.37%)</td></tr><tr><td>Microsoft Corp.</td><td>+31.8%</td><td>14.24%</td><td>+420 basis points (4.20%)</td></tr><tr><td>Broadcom Inc.</td><td>+62.2%</td><td>4.89%</td><td>+229 basis points (2.29%)</td></tr><tr><td>Oracle Corp.</td><td>+56.5%</td><td>3.48%</td><td>+154 basis points (1.54%)</td></tr><tr><td>Palantir Technologies Inc. </td><td>+59.7%</td><td>3.08%</td><td>+141 basis points (1.41%)</td></tr><tr><td>Total (Top 5 Contributors)</td><td>—</td><td>40.25%</td><td>+1,481 basis points (14.81%)</td></tr></tbody></table><figcaption class="wp-element-caption">Source: Author&#8217;s own elaboration based on Koyfin data</figcaption></figure>



<h2 class="wp-block-heading">What To Expect For Tech Stocks In Q3? History Says: Watch July</h2>



While the third quarter is generally positive for tech, the gains tend to show up early. 



According to Seasonax data, looking at last 20 years the XLK has averaged a 2.7% gain from July 1 to October 1, with gains in 14 of those years.



However, recent third quarters haven't been kind. In 2022, the ETF fell 3.9%. In 2023, it dropped 4.5%. In 2024, it slid another 3.7%.



July, on the other hand, tells a different story. 



It's historically the strongest month for tech. XLK has averaged a 2.86% return in July over the past two decades, with gains in 76% of those years.



<h2 class="wp-block-heading">Golden Cross Signal May Support The Trend</h2>



On June 30, the XLK triggered a golden cross, a bullish technical setup where the 50-day moving average crosses above the 200-day average. It often signals the start of a longer-term uptrend.



A backtest of this strategy—buying on the golden cross and selling on the next death cross—shows solid historical performance since 2009. 



Only one of the nine trades posted a loss. Most produced double-digit returns, particularly during strong bull markets. The latest signal adds another reason to believe this rally could extend through the summer—at least for now.



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><thead><tr><th>Buy Date</th><th>Sell Date</th><th>Buy Price</th><th>Sell Price</th><th>Total Return</th><th>Annualized Return</th><th>Days Held</th></tr></thead><tbody><tr><td>2009-06-02</td><td>2010-07-07</td><td>18.03</td><td>20.52</td><td>+13.8%</td><td>+12.2%</td><td>400</td></tr><tr><td>2010-10-19</td><td>2011-08-05</td><td>23.79</td><td>24.65</td><td>+3.6%</td><td>+4.6%</td><td>290</td></tr><tr><td>2011-12-12</td><td>2012-12-10</td><td>25.81</td><td>28.70</td><td>+11.2%</td><td>+10.3%</td><td>364</td></tr><tr><td>2013-02-14</td><td>2015-08-27</td><td>29.71</td><td>40.14</td><td>+35.1%</td><td>+12.6%</td><td>925</td></tr><tr><td>2015-11-27</td><td>2016-02-05</td><td>43.86</td><td>40.48</td><td>-7.7%</td><td>-34.0%</td><td>70</td></tr><tr><td>2016-04-11</td><td>2018-12-03</td><td>44.08</td><td>69.64</td><td>+58.0%</td><td>+17.5%</td><td>967</td></tr><tr><td>2019-04-02</td><td>2020-04-28</td><td>75.07</td><td>90.50</td><td>+20.6%</td><td>+18.5%</td><td>392</td></tr><tr><td>2020-05-29</td><td>2022-03-16</td><td>97.04</td><td>147.99</td><td>+52.5%</td><td>+25.0%</td><td>656</td></tr><tr><td>2023-02-24</td><td>2025-03-31</td><td>136.10</td><td>202.78</td><td>+49.0%</td><td>+22.4%</td><td>767</td></tr></tbody><tfoot><tr><td></td><td></td><td></td><td>Average</td><td>+26.5%</td><td>+9.6%</td><td>537</td></tr></tfoot></table><figcaption class="wp-element-caption">Source: Author&#8217;s own elaboration based on TradingView data</figcaption></figure>



Now Read 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/06/46096528/nasdaq-100-record-highs-rally-historical-performance">Nasdaq 100 Hits Record Highs After 30% Rally: History Suggests It&#8217;s Not Done Yet </a></li>
</ul>



Image: Shutterstock

Sector ETFs

ETFs

ORCL

Nvidia, Palantir Fuel Historic Tech Rally — And It's Far From Done

Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) shares soared to a new all-time high Monday morning, driven by investor enthusiasm following CEO Mark Zuckerberg&#8217;s ambitious plans to restructure the company&#8217;s artificial intelligence division. The move signals a deep commitment to developing &#8220;superintelligence,&#8221; advanced AI systems capable of outperforming humans.



What To Know: Per a Bloomberg <a href="https://www.bloomberg.com/news/articles/2025-06-30/zuckerberg-announces-meta-superintelligence-effort-more-hires">report</a>, this strategic pivot includes the formation of Meta Superintelligence Labs, which will be spearheaded by Alexandr Wang, the former CEO of the data-labeling startup Scale AI. 



Meta&#8217;s focus on AI has been further solidified by a recent <a href="https://www.benzinga.com/markets/tech/25/06/46141985/metas-play-for-voice-ai-could-shake-up-the-competition">$14.3 billion investment</a> in Scale AI and the recruitment of top talent from rivals such as OpenAI and Google. These aggressive steps into the AI landscape have bolstered investor confidence in Meta&#8217;s future growth potential.



The company&#8217;s recent significant investments in <a href="https://www.benzinga.com/markets/tech/25/06/46117348/meta-secures-more-clean-energy-for-power-hungry-ai-and-data-center-growth">renewable energy</a> to power its energy-intensive AI data centers have also been well-received. This comprehensive strategy, combining cutting-edge AI development with sustainable operational goals, has propelled Meta&#8217;s share price to record highs in 2025.



Analyst Ratings: Driven in part by the company&#8217;s standout <a href="https://www.benzinga.com/news/earnings/25/04/45117948/meta-q1-earnings-eps-beat-revenue-up-16-ai-approaches-1-billion-monthly-actives-capital-expenditures-forecast-raised">first-quarter</a> financial results in April, Wall Street <a href="https://www.benzinga.com/quote/META/analyst-ratings">analysts</a> have echoed the bullish sentiment, with several firms reiterating positive ratings and raising their price targets for Meta. 



In the last week of June alone, Piper Sandler reiterated its Overweight rating while significantly lifting its price target to $808. Similarly, UBS and Citigroup maintained their Buy ratings, increasing their price targets to $812 and $803, respectively. 



This wave of upward revisions from major financial institutions reflects a strong consensus that Meta&#8217;s strategic initiatives, particularly in artificial intelligence, will continue to drive significant value for shareholders.



Price Action: According to data from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, META shares are trading marginally higher by 0.36% to $736.29 Monday afternoon. The stock has a 52-week high of $747.90 and a 52-week low of $442.65. META stock is also higher by some 25% in the second quarter of 2025.



Read Also: <a href="https://www.benzinga.com/news/entertainment/25/06/46122235/mark-zuckerberg-hated-the-social-network-film-dont-tell-him-a-sequel-is-coming">Mark Zuckerberg Hated &#8216;The Social Network&#8217; Film: Don&#8217;t Tell Him A Sequel Is Coming</a>



<h2 class="wp-block-heading">How To Buy META Stock</h2>



Besides going to a brokerage platform to purchase a share &#8211; or fractional share &#8211; of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument. 



For example, in Meta Platforms&#8217; case, it is in the Communication Services sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.



Image: Shutterstock

Meta Pursues 'Superintelligence' With New OpenAI Hires, Stock Climbs To Fresh Highs

Artificial intelligence stocks are on a heater in 2025.&nbsp;



Take Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), which is up 17.5% year-to-date and up 45.5% over the past three months. Then there's AI intelligence powerhouse CoreWeave (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWV#NASDAQ">CRWV</a>), which is up a whopping 331% over the last 90 days alone. Or consider AI software developer Palantir (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>), whose stock price is up 72.9% year-to-date and has increased by 405% over the past year.



Those are robust companies that have built a brand name for themselves in the AI realm and are obvious picks for investors looking to capitalize on the AI freight train of 2025. That said, they&#8217;re not the only names investors should be tracking in the AI market, especially after their rapid rise, which may make some investors concerned that most of the upside is behind them.



<h2 class="wp-block-heading">How The Pros Are Trading Strength Into Q3 — Live Today</h2>



Most traders chase headlines. The pros focus on trends that last. Today, Tuesday at 6 PM ET, see how Tim Melvin, Ryan Faloona, and Anne-Marie Baiynd are using market strength, momentum signals, and long-term setups to stay ahead of the next big move. Their tactics are precise and built for this market. Register <a href="https://benzinga.zoom.us/webinar/register/WN_OJ2FBspHSJSSVNlW8zGapw#/registration">HERE</a> now — limited seats available.



&#8220;This is the first inning of a nine-inning game for AI revolution, and the next generation of winners hasn't even been invented yet,&#8221; said Alan Haworth, senior financial advisor at Clare Market Investments. &#8220;The first round will be NVDA, MSFT, AMZN, GOOG, and a few other megacaps.&#8221;



For discerning investors, it's also a good idea to dig below the surface and uncover gems that aren't pure pay-play artificial intelligence stocks, but have ties to the AI sector.



 &#8220;2025 marks the start of stage two, where the operating and expansion layers are emerging as the real drivers of value,&#8221; said Shay Boloor, chief market strategist at Futurum Equities. &#8220;The explosive returns of phase one laid the tracks. But phase two is where we find compounding utility, and that's where the next decade of upside lives.&#8221;



Which companies indirectly tied to AI make the grade right now for technology investors at the mid-point of 2025? These stocks are getting a green light from market experts.



Astera Labs Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALAB#NASDAQ">ALAB</a>). This Santa Clara, California-based semiconductor company specializes in solving AI and cloud computing data and network bottleneck issues. ALAB stock is down 31% year-to-date, but it's making up ground quickly. Over the past 90 days, the firm's stock price has increased by 52.5%, mainly due to its partnership with AIChip Technologies, a high-profile Taiwan-based chipmaker. &#8220;AI data centers are scaling laterally,&#8221; Boloor said. &#8221; Astera Labs owns the high-speed interconnects (PCIe, CXL, Ethernet) that make cluster performance viable.&#8221;



Astera Labs Inc. has a consensus price target of $ 97.50 based on the ratings of 15 analysts, as noted by Benzinga Ratings.



Oklo, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKLO#NYSE">OKLO</a>). Oklo is carving a clear path to profit in the nuclear industry, providing clean energy through the design and deployment of fast-fission power plants. The company's stock is up 160.2% year-to-date as demand grows, driven by states like New York exploring new nuclear power initiatives and AI companies requiring more power for their data centers. &#8220;AI demands energy 24/7,&#8221; Bollor noted. &#8220;Small modular nuclear is no longer a fringe idea &#8211; it's foundational.&#8221;



Oklo has a consensus price target of $58.14, according to Benzinga Ratings.



Vistra Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>). This Texas-based power generator is essentially an AI infrastructure play as its nuclear plants provide the 24/7, reliable power sources that AI data centers require.



 &#8220;VST is currently trading at 12x forward earnings and, while they haven&#8217;t signed a data center deal yet, they&#8217;re well-positioned to do so in the immediate future especially following their $1.9B acquisition of seven natural gas-fired power plants that are set to add 2,600 megawatts of capacity across five states,&#8221; said Liam Hunt, director of research at IncomeInsider.org.



Vistra has a 95.5 Momentum Rating, according to Benzinga Ratings.



Adobe (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>). At first glance, this digital marketing and media services company may not seem like an obvious choice as an AI-linked company. Yet a closer look reveals that Adobe is doing a solid job of immersing agentic AI into the creative marketplace. Adobe&#8217;s Brand Concierge program and its AI-fueled workflow products and services are helping Adobe gain a solid foothold in the AI market, primarily through close partnerships with major industry players.



&#8220;Goldman Sachs puts ADBE among what it calls the top &#8216;Phase 3&#8217; AI monetizers,&#8221; said Dan Buckley, chief analyst at DayTrading.com. &#8220;These are firms generating revenue through AI, not just as speculative future promises, that are currently undervalued.&#8221;



Adobe has a consensus price target of $511.77, according to Benzinga Ratings.



<h2 class="wp-block-heading">Takeaway On AI Insider Stock Plays</h2>



The message for Main Street investors is clear and direct: stop chasing the obvious AI names and focus on the &#8216;picks and shovels&#8217; plays.



&#8220;Identify companies that benefit from AI adoption and scaling without trading at AI valuations,&#8221; Hunt said. &#8220;Utilities with data center exposure offer growth potential that tracks the AI boom at a more reasonable price point. Additionally, energy infrastructure plays have a strong chance of outperforming the mega-cap tech stocks everyone&#8217;s watching.&#8221;



&#8220;In short, diversify across the AI value chain rather than betting everything on chip stocks,&#8221; he added.



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

Opinion

ADBE

ALAB

CRWV

OKLO

4 Fast-Rising AI Stocks You Probably Haven't Heard Of

U.S. equities opened higher on the final trading day of the first half, with tech-heavy indexes extending record highs by midday <a href="https://www.benzinga.com/markets">trading in New York.</a>



Risk appetite remained firm as geopolitical tensions eased and hopes grew that upcoming U.S. trade talks could yield tangible progress. Market sentiment was further supported by rising expectations of a Federal Reserve rate cut, with Fed futures currently assigning a 93% chance of a rate cut in September.



The S&amp;P 500 and Nasdaq 100 rose 0.4% and 0.6%, respectively, while the Dow Jones Industrial Average climbed nearly 200 points, breaking above the 44,000 mark.



President Donald Trump signaled openness to extending the July 9 deadline for reinstating reciprocal tariffs, adding that he remained optimistic about reaching key agreements in the coming weeks. Meanwhile, Canada's withdrawal of its digital services tax helped improve the outlook for U.S. tech firms and reignited momentum in trade negotiations with Washington.



In currency markets, the U.S. Dollar Index is set for its fifth consecutive monthly decline, marking its longest losing streak since 2017 and its worst half-year performance since 1991, with a 10.5% drop year-to-date.



Treasury yields edged lower, with the 10-year yield dipping to 4.25% and the 30-year yield retreating to 4.80%, snapping a three-month streak of increases.



Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) slipped 1% to $107,330, consolidating after a strong second-quarter rally of 30%.



See Also: <a href="https://www.benzinga.com/markets/forex/25/06/46175116/weaker-dollar-stocks-beneficiaries-foreign-revenue">Dollar&#8217;s Biggest Crash In Decades: These 7 Stocks Could Win Big</a>



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



<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>22,668.63</td><td>0.6%</td></tr><tr><td>Dow Jones</td><td>44,027.78</td><td>0.5%</td></tr><tr><td>S&amp;P 500</td><td>6,196.12</td><td>0.4%</td></tr><tr><td>Russell 2000</td><td>2,173.65</td><td>0.1 %</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 12:40 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;SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.4% to $617.00.</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 0.5% to $440.00.</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;soared 0.5% to $550.93.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) inched 0.2% higher $215.86.</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 0.8%; the&nbsp;Consumer Discretionary&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) lagged, down 0.6%.</li>
</ul>



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



<ul class="wp-block-list">
<li>Hewlett Packard Enterprise (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) shares jumped 13% after reaching a settlement with the U.S. Department of Justice over its $14 billion acquisition of Juniper Networks Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNPR#NYSE">JNPR</a>), pending final court approval.</li>



<li>First Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) shares rose 9% to $163 after the U.S. Senate advanced a bill preserving solar leasing tax credits.</li>



<li>Other solar stocks also rallied, with SolarEdge Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>), up 5% and SunRun Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>), up 15%. Read now:</li>



<li><a href="https://www.benzinga.com/news/25/06/46171994/emerging-markets-stocks-dollar-outlook">A Weaker Dollar Just Unlocked A Surprise 2025 Winner — And Smart Money Is Moving In</a> Photo: khunkornStudio via Shutterstock</li>
</ul>

Macro Economic Events

Broad U.S. Equity ETFs

Econ #s

Economics

FSLR

SEDG

Wall Street Extends Record Highs, Dow Jones Hits 44,000: What's Driving Markets Monday?

A sharp decline in the U.S. dollar is reigniting investor interest in emerging markets, prompting billions to flow into investment products tracking equities, despite Wall Street dominating headlines <a href="https://www.benzinga.com/markets/equities/25/06/46163305/sp-hits-record-high-amid-easing-trade-tensions-investor-sentiment-improves-fear-index-remains-in-greed-zone">with new all-time highs.</a>



The iShares Core MSCI Emerging Markets ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEMG#NYSE">IEMG</a>)—the top vehicle for U.S. investors seeking exposure to EM equities—registered $2.95 billion in inflows in June, its strongest monthly influx since January 2023. 



Emerging market stocks are on track for a 5% monthly gain in both May and June, setting up the strongest two-month performance since late 2022.



The surge marks a significant shift in global positioning, particularly as investors seek relative value and macro tailwinds beyond U.S. assets, with the U.S. Dollar Index (DXY) dropping to its lowest level in over three years.



<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/2025/06/30101209/image-441-1024x528.png" alt="" class="wp-image-967042" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/30101209/image-441-1024x528.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/30101209/image-441-300x155.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/30101209/image-441-768x396.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/30101209/image-441-1536x792.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/30101209/image-441-2048x1056.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h2 class="wp-block-heading">Weaker Dollar Reshapes Emerging Markets</h2>



Bank of America's chief investment strategist Michael Hartnett sees a powerful confluence of global forces working in favor of emerging markets. 



In his recent note, the analyst said the rise of artificial intelligence is increasing demand for the raw materials that many EM countries produce, while a weakening U.S. dollar is removing one of the main barriers to capital inflows. 



With EM equities still trading near multi-decade lows relative to U.S. stocks, Hartnett suggested the current setup makes an &#8220;easy allocation decision.&#8221;



Emerging markets have underperformed U.S. stocks – as tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) – by 70% since 2013, yet they&#8217;re up about 10% year-to-date—on track for their best year since 2017.



Chart: Emerging Markets Have Lagged US Stocks By 70% Since 2013



<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/2025/06/30101933/image-443-1024x528.png" alt="" class="wp-image-967055" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/30101933/image-443-1024x528.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/30101933/image-443-300x155.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/30101933/image-443-768x396.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/30101933/image-443-1536x792.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/30101933/image-443-2048x1056.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h2 class="wp-block-heading">Positioning To EM Stocks Still Light </h2>



David Hauner, head of emerging markets strategy at Bank of America, reinforced the bank&#8217;s optimistic view on EM assets.



He has maintained a bullish stance since President Donald Trump's inauguration and sees room for further upside, as investor positioning remains lighter than expected—despite solid year-to-date gains and a broadly weaker U.S. dollar.



He added that while U.S. fiscal concerns are rising, the main risk for EM would be "an unexpected dollar rebound" from the upcoming trade talks.



Historically, emerging markets have been vulnerable to rising U.S. yields, especially on the long end of the curve. However, recent price action tells a different story. Despite higher 30-year Treasury yields, EM local bonds and currencies have remained resilient.



"As long as DXY is down, EM returns tend to stay positive—even when U.S. yields rise," said Hauner. 



Bank of America's historical data supports that view. Since 2008, when the Dollar Index declined, the MSCI Emerging Markets Index posted gains 72% of the time, with average monthly returns between 2.2% and 2.8%, depending on the movement in long-term U.S. yields.



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><thead><tr><th>Scenario</th><th>MSCI EM Stocks Win Rate (Avg Return)</th><th>MSCI EM Currency Win Rate (Avg Return)</th></tr></thead><tbody><tr><td>DXY Down / 30Y Yield Up</td><td>72% (2.8%)</td><td>81% (1.1%)</td></tr><tr><td>DXY Down / 30Y Yield Down</td><td>74% (2.2%)</td><td>88% (1.1%)</td></tr><tr><td>DXY Up / 30Y Yield Up</td><td>42% (-1.4%)</td><td>35% (-0.5%)</td></tr><tr><td>DXY Up / 30Y Yield Down</td><td>39% (-1.5%)</td><td>35% (-0.5%)</td></tr></tbody></table><figcaption class="wp-element-caption">Data: Bank of America</figcaption></figure>



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/06/46166959/sp500-stocks-outlook-etf-analysis">This S&amp;P 500 ETF Saw A 30-Month Buying Spree — Now It&#8217;s Over </a></li>
</ul>



Image created using artificial intelligence via Midjourney.

Analyst Color

Emerging Market ETFs

Global

IEMG

A Weaker Dollar Just Unlocked A Surprise 2025 Winner — And Smart Money Is Moving In

A historic inflow streak into the world&#8217;s biggest exchange traded fund has come to a sudden end in June, with the S&amp;P 500 benchmark fund losing billions even as Wall Street <a href="https://www.benzinga.com/markets/equities/25/06/46163999/us-stocks-likely-to-open-higher-continuing-record-setting-advances-june-has-never-seen-an-all-time-high-since-1950-highlights-expert">celebrated fresh record highs. </a>



The Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) saw $5.69 billion in outflows during the month, marking its first monthly net redemption since December 2022 and the second-largest outflow since the fund's launch in 2015.



The redemptions signal a notable divergence between market performance and investor behavior. The S&amp;P 500 reached new all-time highs in late June, yet large swaths of institutional and retail investors opted to take profits and reduce exposure.



Over the three years leading up to June 2025, the VOO ETF attracted $250 billion in inflows, overtaking the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) to become the world's largest ETF.



<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/2025/06/30083412/image-437-1024x528.png" alt="" class="wp-image-966892" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/30083412/image-437-1024x528.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/30083412/image-437-300x155.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/30083412/image-437-768x396.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/30083412/image-437-1536x792.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/30083412/image-437-2048x1056.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h3 class="wp-block-heading">Broad-Based Redemptions Across Some Large-Cap ETFs</h3>



The outflows from Vanguard's S&amp;P 500 ETF were far from an isolated case, as other major large-cap funds also saw significant investor withdrawals.



The Invesco Equal-Weight S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RSP#NYSE">RSP</a>) shed $1.6 billion in June, marking its steepest monthly outflow since March 2020. 



Meanwhile, the SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) posted $1.7 billion in redemptions, its largest since December 2020. 



Even the Roundhill Magnificent Seven ETF (CBOE: MAGS), a relatively new fund focused on mega-cap tech names, saw $102 million in outflows—only the second monthly decline in assets since its debut in November 2023.



<h3 class="wp-block-heading">Why Are Investors Pulling Back Amid Record Highs?</h3>



Veteran Market strategist Ed Yardeni said investor sentiment remains cautious, despite easing geopolitical concerns and progress on trade policy under President Donald Trump.



"Though the stock market is back on record-high ground after a couple of big worries have dissipated, investors remain wary, sentiment readings show," Yardeni said in a note on Monday.



Yardeni highlighted the ceasefire in the 12-day conflict between Israel and Iran and improved outlooks regarding Trump&#8217;s proposed trade policies, yet noted that traditional sentiment indicators like the AAII Bull-Bear Ratio and Investor Intelligence surveys remain subdued.



"Stock investors always find something to worry about," Yardeni said. 



In Yardeni's view, the disconnect between price action and sentiment could suggest that a large portion of the current rally is being driven by passive or algorithmic flows, rather than broad-based investor enthusiasm. 



<h3 class="wp-block-heading">Technical Strength vs. Macro Uncertainty</h3>



On the technical front, Adam Turnquist, chief technical strategist at LPL Financial, recently indicated that historical patterns suggest momentum tends to continue after a market reaches new highs.



According to Turnquist&#8217;s analysis, after reaching new highs, the S&amp;P 500 posted average and median 12-month returns of 9.7% and 8.6%, respectively. Notably, 74% of those occurrences led to positive performance over the following year.



Still, Turnquist flagged macro risks that could limit further gains.



 "A lot of good news is arguably priced into the market," he said.



Further upside in equities, Turnquist added, will likely hinge on several variables aligning: upside earnings surprises, lower-than-expected tariff levels, passage of Trump's "Big Beautiful Bill" with limited market disruptions, and ideally, a moderation in interest rates on the longer end of the yield curve.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/06/46166058/elon-musk-birthday-trump-tax-bill-economy">Elon Musk&#8217;s Birthday Wish: Kill The Bill Before It Kills The Economy</a></li>
</ul>



Photo: Shutterstock

Analyst Ratings

MAGS

This S&P 500 ETF Saw A 30-Month Buying Spree — Now It's Over

On June 28, his 54th birthday, Elon Musk didn't post celebratory photos or <a href="https://www.benzinga.com/topic/elon-musk">launch a new product.</a>



Instead, he launched another blistering denunciation of President Donald Trump's sweeping tax and spending bill, calling it <a href="https://www.benzinga.com/news/politics/25/06/46159125/elon-musk-calls-trumps-megabill-political-suicide-says-it-is-utterly-insane-and-destructive-will-destroy-millions-of-jobs-in-america">"utterly insane and destructive"</a> in a post on X (formerly Twitter)—an attack that reignited a political feud and underscored a deeper ideological rift between two of the most influential figures in American public life.



The legislation in question, nicknamed the <a href="https://www.benzinga.com/news/politics/25/06/46159430/trumps-major-bill-advances-in-senate-amid-late-night-vote-salt-provision-compromise-stirs-controversy">"Big, Beautiful Bill"</a> by the Trump administration, is a nearly 1,000-page proposal that combines deep tax cuts with significant spending reductions and industry-specific subsidies. The bill, which passed the House by a narrow margin in May, is now under intense scrutiny in the Senate, where Republican leaders are racing to meet Trump's self-imposed July 4 deadline.



<ul class="wp-block-list">
<li>Read More: <a href="https://www.benzinga.com/news/education/25/06/46157568/happy-birthday-elon-musk-54-facts-and-figures-about-tesla-spacex-ceo-on-his-54th-birthday">54 Things You Might Not Know About Elon Musk</a></li>
</ul>



The Tesla and SpaceX CEO&#8217;s criticism wasn't subtle. "The latest Senate draft bill will destroy millions of jobs in America and cause immense strategic harm to our country," he wrote in an X post on June 28. "It gives handouts to industries of the past while severely damaging industries of the future".



His comments came just hours before the Senate was scheduled to vote on whether to open debate on the bill. Musk, who previously served as head of the now-defunct Department of Government Efficiency (DOGE), has been increasingly vocal in his opposition since leaving the administration in May.



Musk's latest broadside wasn&#8217;t a one-off outburst. It was the culmination of a month-long escalation that began on June 3, when Musk first labeled the legislation a <a href="https://www.benzinga.com/news/politics/25/06/45757029/elon-musk-slams-congressional-spending-bill-as-a-disgusting-abomination">"disgusting abomination"</a>. What followed was a <a href="https://www.benzinga.com/news/politics/25/06/45800612/trump-says-musk-has-trump-derangement-syndrome-as-battle-over-bill-heats-up-had-a-great-relationship-dont-know-if-we-will-anymore">public unraveling of the Musk-Trump alliance</a>, complete with televised rebukes, social media barbs, and threats to sever political and financial ties.



But beyond the spectacle lies a more consequential question: What does Musk's opposition signal about the future of U.S. economic policy—and the fragile coalition behind it?



What's In The Big, Beautiful Bill?



The legislation combines sweeping tax cuts with deep spending reductions and targeted subsidies for fossil fuels, defense, and border enforcement. It also raises the debt ceiling by $5 trillion—the largest single increase in U.S. history.



While the bill passed the House in May, it has faced turbulence in the Senate, where moderate Republicans have balked at its impact on the deficit and the rollback of clean energy incentives. Musk's intervention has only intensified that pressure.



Musk's critique aligns with concerns raised by economists and industry leaders. Jesse Jenkins, an energy systems engineer at Princeton, called the bill's energy provisions "truly so bad," noting that automakers, utilities, and manufacturers alike oppose them. The Joint Committee on Taxation estimates the bill's tax provisions alone would reduce federal revenue by more than $4 trillion over the next decade.



Read More: <a href="https://www.benzinga.com/news/politics/25/06/46160881/bernie-sanders-slams-trumps-big-beautiful-bill-as-a-gift-for-billionaires-the-most-dangerous-piece-of-legislation-in-modern-history">Bernie Sanders Slams Trump&#8217;s Bill As &#8216;The Most Dangerous Piece of Legislation In Modern History'</a>



According to the Congressional Budget Office (CBO), the bill would increase the federal deficit by more than $3 trillion over the next decade. While proponents argue that the tax cuts will spur growth, critics—including some within the GOP—warn that the deficit impact could be severe.



Musk Warns Of &#8216;Political Suicide For The Republican Party&#8217;



Musk's opposition isn't limited to clean energy. He has framed the bill as a threat to American competitiveness. "It's political suicide for the Republican Party," he wrote, citing a poll by the Tarrance Group that reportedly shows declining support for the bill among independent voters. By favoring legacy sectors like coal and oil, the outspoken entrepreneur argues, the legislation undermines innovation in AI, space, and advanced manufacturing—areas where the U.S. is competing globally.



The tech billionaire&#8217;s opposition carries weight not just because of his platform—he is the most-followed person on X—but because of his political capital. He was the largest individual donor to Trump's 2024 campaign, contributing over $250 million. He also briefly served as head of the Department of Government Efficiency (DOGE), a role in which he led aggressive reductions in the federal workforce and spending cuts.



What Happens Next?



The Senate remains divided. With a razor-thin Republican majority, any defections could derail the bill. Musk's high-profile opposition may embolden moderate GOP senators who are already uneasy about the bill's deficit impact and industry favoritism.



Meanwhile, Musk's birthday broadside has dominated headlines, shifting attention from legislative details to the broader question of who shapes economic policy in 2025: elected officials or billionaire technocrats.



As the Senate prepares for a critical vote, one thing is clear—Musk's birthday wish wasn't for cake or candles. It was for Congress to kill the bill before, in his words, it kills the economy.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/06/46087914/teslas-europe-sales-slide-for-5th-straight-month-elon-musk-led-ev-giants-market-share-shrinks-to-1-3">Tesla&#8217;s Europe Sales Slide For 5th Straight Month: Elon Musk-led EV Giant&#8217;s Market Share Shrinks To 1.3%</a></li>
</ul>



Photo: Shutterstock

Elon Musk's Birthday Wish: Kill The Bill Before It Kills The Economy

Florida Sen.&nbsp;Rick Scott&nbsp;(R) and several Republican colleagues have proposed an amendment to President Donald Trump&#8216;s healthcare bill that could significantly cut Medicaid spending.



What Happened: The amendment, if passed, would restrict&nbsp;the expansion of Medicaid under&nbsp;the&nbsp;Affordable Care Act, also known&nbsp;as ObamaCare,&nbsp;<a href="https://thehill.com/homenews/senate/5376222-scott-pushes-medicaid-reduction/">reported</a>&nbsp;The Hill on&nbsp;Sunday. This could lead to an additional $313 billion cut in Medicaid spending by blocking able-bodied adults without dependent children in Medicaid expansion states from receiving the enhanced 9-to-1 Federal Medical Assistance Percentage (FMAP).



A preliminary analysis by the Congressional Budget Office (CBO) estimated that the Senate bill would cut Medicaid spending by $930 billion, even without Scott's proposed amendment. If the amendment is adopted, it could slash future Medicaid spending by an additional $1.24 trillion. Scott's office claims the amendment alone would save $313 billion over the next decade.



Scott, along with&nbsp;Sen. Mike Lee&nbsp;(R-Utah) and&nbsp;Sen. Ron Johnson&nbsp;(R-Wis.), have been actively persuading&nbsp;Republican colleagues to vote for&nbsp;the amendment. Senate Majority Leader&nbsp;John Thune&nbsp;(R-S.D.) has pledged his support for the amendment.



SEE ALSO:&nbsp;<a href="https://benzinga.com/news/politics/25/06/46160509/irans-top-diplomat-to-un-says-uranium-enrichment-to-continue-an-inalienable-right" target="_blank" rel="noreferrer noopener">Iran&#8217;s Top Diplomat To UN Says Uranium Enrichment To Continue: An &#8216;Inalienable Right&#8217;</a>



Why It Matters: The proposed Medicaid cut is part of a broader Republican effort to reform healthcare spending. The move comes amid growing concerns about the sustainability of Medicaid and other social welfare programs, particularly in light of the recent&nbsp;<a href="https://www.benzinga.com/personal-finance/management/25/06/46014120/social-security-and-medicare-funds-could-run-dry-earlier-than-expected-new-report-shows">warnings</a>&nbsp;that the Social Security and Medicare funds could run dry earlier than expected.



Earlier this year, House Speaker&nbsp;Mike Johnson&nbsp;(R-La.)&nbsp;<a href="https://www.benzinga.com/news/politics/25/06/45716936/speaker-mike-johnson-says-4-8-million-wont-lose-medicaid-unless-they-choose-to-do-so-calls-gop-cuts-an-important-and-frankly-heroic-thing">defended</a>&nbsp;the GOP&#8217;s proposed Medicaid cuts, arguing that those who lose Medicaid will do so by personal choice. However, the proposed cuts have also sparked&nbsp;<a href="https://www.benzinga.com/personal-finance/25/03/44098458/if-a-bill-is-put-in-front-of-me-that-guts-benefits-i-will-not-vote-for-it-gop-faces-internal-divide-over-medicaid-cuts">internal divisions</a>&nbsp;within the Republican party, with some members warning that drastic reductions could harm millions of Americans who rely on the program.



<ul class="wp-block-list">
<li>READ MORE:&nbsp;<a href="https://benzinga.com/markets/equities/25/06/46109576/buffett-premium-fading-away-the-oracle-of-omahas-retirement-casts-shadow-on-berkshire-hathaways-stock-value-report" target="_blank" rel="noreferrer noopener">&#8216;Buffett Premium&#8217; Fading Away? The Oracle Of Omaha&#8217;s Retirement Casts Shadow On Its Stock Value: Report &#8211; Benzinga</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.

Senate Republicans Propose $313 Billion Cut In Medicaid Spending In Trump's 'Big, Beautiful Bill'

U.S. futures rose on Monday after a record close on Friday. Futures of major benchmark indices were trading higher.



As the <a href="https://www.benzinga.com/25/05/45603240/trump-agrees-to-extend-50-tariffs-on-europe-until-july-9-it-was-my-privilege-to-do-so">July 9 deadline</a> for President Donald Trump&#8216;s reciprocal tariffs comes closer, on Friday, he suggested that the deadline for a U.S.-EU trade deal might not be set in stone.



&#8220;We can do whatever we want,&#8221; he told reporters at the White House. &#8220;We could extend it. We could make it shorter.&#8221; The pause temporarily reduced tariffs to 10%, but they could <a href="https://www.benzinga.com/news/politics/25/06/46156587/trump-says-july-tariff-deadline-not-set-in-stone-we-can-do-whatever-we-want">revert to higher rates</a> unless Trump's executive order from April 9 is amended.



The 10-year Treasury bond yielded 4.25% and the two-year bond was at 3.72%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool&#8217;s</a> projections show markets pricing a 78.8% 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>0.46%</td></tr><tr><td>S&amp;P 500</td><td>0.39%</td></tr><tr><td>Nasdaq 100</td><td>0.62%</td></tr><tr><td>Russell 2000</td><td>0.44%</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 Monday. The SPY was up 0.46% at $617.72, while the QQQ advanced 0.72% to $552.03, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From Last Session:



On Friday, several sectors on the S&amp;P 500 closed with strong gains, led by communication services, consumer discretionary, and industrials stocks. However, energy and healthcare bucked the prevailing market trend, concluding the session in negative territory.



Overall, U.S. stocks settled higher, with the S&amp;P 500 reaching fresh intraday records as investors responded positively to easing global trade tensions and diminishing geopolitical risks, prompting robust buying activity.



Sentiment received a significant boost from President Trump&#8217;s announcement that the U.S. is in the process of finalizing multiple trade agreements.



Trump indicated that four to five deals are either completed or nearing completion ahead of a crucial July 9 deadline. Further bolstering investor confidence, Commerce Secretary Howard Lutnick confirmed a new U.S.-China trade accord, which notably includes tariff reductions and provisions for safeguarding rare earth imports.



Nike Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NK#NYSE">NK</a>) surged by 15% on Friday after the athletic apparel giant reported quarterly earnings that comfortably surpassed Wall Street&#8217;s expectations.



Similarly, Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) saw its shares advance by 6% following a bullish analyst note issued by RedBurn Atlantic, highlighting positive sentiment for the aerospace giant.



<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>0.52%</td><td>20,273.46</td></tr><tr><td>S&amp;P 500</td><td>0.52%</td><td>6,173.07</td></tr><tr><td>Dow Jones</td><td>1.00%</td><td>43,819.27</td></tr><tr><td>Russell 2000</td><td>0.019%</td><td>2,172.53</td></tr></tbody></table></figure>



Insights From Analysts:



Following Friday&#8217;s record-breaking rally, Ryan Detrick from Carson Research highlighted historical data and said that the S&amp;P 500 index has never made an all-time high in June since 1950, whereas it has only happened twice in February, excluding this year.



<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">Stocks just made a new all-time high in June. Stocks have never peaked in June. &#x1f9d0; <a href="https://t.co/ItYm8vmOog">pic.twitter.com/ItYm8vmOog</a>&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1938949133832003645?ref_src=twsrc%5Etfw">June 28, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Meanwhile, he also reiterated that the bull market that began in October 2022 was still active.



He underscored that the S&amp;P 500 has been higher in a post-election year in nine of the past 10 cycles, going back 40 years to 1985.



&#8220;Strength now is normal, it is next year you need to worry about,&#8221; he added.



<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 S&amp;P 500 has been higher in a post-election year nine of the past 10 cycles (going back 40 years to 1985). Strength now is normal, it is next year you need to worry about. <a href="https://t.co/DgnALlx9pe">pic.twitter.com/DgnALlx9pe</a>&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1939518814808363480?ref_src=twsrc%5Etfw">June 30, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



He also highlighted that the market rebounded from April lows to turn positive for the year by the end of July for the first time since 2009.



&#8220;With a day to go until the official midpoint of &#8217;25, the S&amp;P 500 is up 5% YTD,&#8221; he said.



<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">With a day to go until the official midpoint of &#39;25, the S&amp;P 500 is up 5% YTD. Only once was it down more YTD at the lows and come all the way back to in the green by the end of June and that was 2009. <a href="https://t.co/uFy3mLJBBJ">pic.twitter.com/uFy3mLJBBJ</a>&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1939522723526381690?ref_src=twsrc%5Etfw">June 30, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Ed Yardeni of Yardeni Research highlighted that tariff delays and AI spending have propelled the S&amp;P 500 index to new highs.



&#8220;Trump started to moderate his stance on tariffs on April 9, and AI companies reiterated their commitment to spend tens of billions of dollars on AI capital investments during April&#8217;s Q1 earnings season. Also boosting the S&amp;P 500 is the record high in S&amp;P 500 forward earnings,&#8221; he stated.



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 this week:



<ul class="wp-block-list">
<li>On Monday, June&#8217;s Chicago Business Barometer (PMI) will be released by 9:45 a.m. ET.</li>



<li>On Tuesday, June&#8217;s S&amp;P final U.S. manufacturing PMI will be out by 9:45 a.m., and May&#8217;s construction spending and job openings data will be released by 10:00 a.m. ET.</li>



<li>June&#8217;s ISM manufacturing data will be out by 10:00 a.m., whereas auto sales data will also be released on Tuesday.</li>



<li>On Wednesday, June&#8217;s ADP employment data will be out by 8:15 a.m. ET.</li>



<li>On Thursday, initial jobless claims data for the week ended June 28, along with June&#8217;s employment, unemployment, hourly wages, and May&#8217;s trade deficit data, will all be out by 8:30 a.m. ET.</li>



<li>June&#8217;s S&amp;P final U.S. services PMI will be released by 9:45 a.m., whereas ISM services data and May&#8217;s factory orders data will be out by 10:00 a.m. ET.</li>



<li>Markets will be closed on Friday, July 4, for Independence Day.</li>
</ul>



Stocks In Focus:



<ul class="wp-block-list">
<li>Progress Software Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRGS#NASDAQ">PRGS</a>) was up 2.02% in premarket on Monday as analysts expect it to report quarterly earnings of $1.30 per share on revenue of $237.52 million after the closing bell.</li>



<li>Quantum Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QMCO#NASDAQ">QMCO</a>) rose 1.99% as analysts expect it to report a loss of $1.17 per share on revenue of $65.95 million, after the closing bell.</li>



<li>Venus Concept Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VERO#NASDAQ">VERO</a>) jumped 37.61% in premarket after Madryn Asset Management increased its stake in the company to 85.5%.</li>



<li>IGC Pharma Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGC#NYSE">IGC</a>) gained 3.46% in premarket after reporting a quarterly loss of 1 cent per share, versus market estimates of a loss of 2 cents per share. The company reported quarterly sales of $330,000, which beat the analyst consensus estimate of $305,000.</li>



<li>Klotho Neurosciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLTO#NASDAQ">KLTO</a>) surged 29.26% in premarket after announcing progress in manufacturing its investigational ALS gene therapy. The therapy utilizes a unique RNA splice variant of the human alpha-Klotho gene, licensed from the Autonomous University of Barcelona.</li>



<li>Globavend Holdings Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GVH#NASDAQ">GVH</a>) climbed 15.11% after partnering with global online beauty retailer Strawberrynet to target Australia&#8217;s $8.7 billion cosmetics market, aiming to boost premium beauty product accessibility and expand Globavend&#8217;s e-commerce logistics.</li>



<li>Perfect Moment Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PMNT#NYSE">PMNT</a>) zoomed 16.89% after announcing that it intends to offer to sell shares of its common stock in an underwritten public offering. All of the shares of common stock are to be sold by the Company.</li>



<li>Genius Group Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GNS#NYSE">GNS</a>) advanced 13.71% after announcing its Board&#8217;s plan to distribute proceeds from any future legal victories equally between shareholders and the purchase of Bitcoin for its treasury.</li>
</ul>



Commodities, Gold, And Global Equity Markets:



Crude oil futures were trading lower in the early New York session by 0.03% to hover around $65.50 per barrel.



Gold Spot US Dollar rose 0.37% to hover around $3,286.47 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was lower by 0.21% at the 97.1950 level.



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



Read Next:



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<li><a href="https://www.benzinga.com/news/politics/25/06/46162886/us-housing-market-is-not-just-broken-its-rigged-says-craig-shapiro-as-mamdani-vows-to-build-200000-publicly-subsidized-homes-freeze-rent-in-nyc">US Housing Market Is &#8216;Not Just Broken, It&#8217;s Rigged,&#8217; Says Craig Shapiro As Mamdani Vows To Build 200,000 Publicly Subsidized Homes, Freeze Rent In NYC</a></li>
</ul>



Photo courtesy: godongphoto / Shutterstock.com

KLTO

PMNT

QMCO

VERO

US Stocks Likely To Open Higher, Continuing Record-Setting Advances: June Has Never Seen An All-Time High Since 1950, Highlights Expert

The landmark trade agreement between President Donald Trump and British Prime Minister Keir Starmer officially took effect Monday, delivering immediate tariff relief for the United Kingdom&#8217;s automotive and aerospace exports to the United States.



What Happened: The deal reduces U.S. tariffs on UK cars from 27.5% to 10%, creating a quota system allowing up to 100,000 British vehicles annually at the reduced rate. 



This represents significant savings for manufacturers, with the British government estimating hundreds of millions in annual cost reductions that could protect hundreds of thousands of jobs.



The aerospace sector secured even greater benefits. U.S. tariffs on UK aircraft parts and engines, previously at 10%, were eliminated. This directly benefits companies like Rolls-Royce Holdings Plc, <a href="https://www.benzinga.com/politics/25/05/45293839/trump-starmer-strike-us-uk-trade-deal-steel-cars-beef">which supplies engines</a> to Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>).



&#8220;British car manufacturers can now export to the U.S. at a significantly reduced 10% tariff rate &#8211; down from 27.5% &#8211; and aerospace goods will see 10% tariffs removed, saving sectors hundreds of millions each year,&#8221; said Business and Trade Secretary Jonathan Reynolds.



See Also: <a href="https://www.benzinga.com/news/politics/25/06/46162859/trump-threatens-to-cut-federal-funding-for-nyc-if-zohran-mamdani-doesnt-do-the-right-thing-as-future-mayor-if-he-does-get-in-im-going-to-be-president">Trump Threatens To Cut Federal Funding For NYC If Zohran Mamdani Doesn&#8217;t Do The &#8216;Right Thing&#8217; As Future Mayor: &#8216;If He Does Get In, I&#8217;m Going To Be President&#8230;&#8217;</a>



Why It Matters: The agreement has drawn <a href="https://www.benzinga.com/25/05/45314561/trumps-uk-trade-deal-draws-criticism-from-ford-gm-stellantis-this-hurts-american-automakers-suppliers-and-auto-workers">criticism from major U.S. automakers</a> in May. The American Automotive Policy Council, representing General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), and Stellantis NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>), argued the deal creates unfair competition. &#8220;It will now be cheaper to import a UK vehicle with very little U.S. content than a USMCA-compliant vehicle from Mexico or Canada that is half American parts,&#8221; the group stated.



University of Michigan economist Justin Wolfers called the luxury car exemptions &#8220;politically insane,&#8221; noting that high-end brands like Bentley and Aston Martin effectively <a href="https://www.benzinga.com/25/05/45342313/trumps-uk-trade-carveouts-baffles-economist-justin-wolfers-bentley-rolls-royce-exemption-is-politically-insane">dodge tariffs while basic commodities face duties</a>.



The UK becomes the only country to secure such preferential treatment under Trump&#8217;s tariff regime. The deal also eliminates the 50% global tariff on UK steel and aluminum, with commitments to work toward zero tariffs on core steel products.



This marks the first major trade breakthrough since Trump paused global tariffs for 90-day negotiations in April. 



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/06/46162550/as-sp-500-charges-off-april-lows-dan-niles-says-investors-will-forget-about-valuations-holds-microsoft-nvidia-cisco-but-sees-holiday-demand-crash-risk">As S&amp;P 500 Charges Off April Lows, Dan Niles Says Investors Will &#8216;Forget About Valuations&#8217;—Holds Microsoft, Nvidia, Cisco But Sees Holiday Demand Crash Risk</a></li>
</ul>



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



Photo courtesy: Joshua Sukoff / Shutterstock.com

STLA

Trump–Starmer Trade Deal Kicks In: UK Luxury Cars Get 10% Tariff, Rolls-Royce Engines Fly Duty-Free Into US

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



U.S. stocks settled higher on Friday, with the S&amp;P 500 surging to fresh records during the session as investors responded to easing trade tensions and geopolitical risks with robust buying.



President Donald Trump said the U.S. is in the process of finalizing multiple trade agreements, suggesting that four to five deals are either completed or close to completion ahead of a key July 9 deadline. Sentiment was further lifted after Commerce Secretary Howard Lutnick confirmed a new U.S.-China trade accord that includes tariff reductions and safeguards for rare earth imports.



Nike Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) jumped 15% on Friday after reporting quarterly earnings that crushed Wall Street expectations. Boeing Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) advanced 6% following a bullish analyst note from RedBurn Atlantic.



Most sectors on the S&amp;P 500 closed on a positive note, with communication services, consumer discretionary and industrials stocks recording the biggest gains on Friday. However, energy and health care stocks bucked the overall market trend, closing the session lower.



The Dow Jones closed higher by around 432 points to 43,819.27 on Friday. The S&amp;P 500 rose 0.52% to 6,173.07 with the index gaining as much as 0.76% to a high of 6,187.68 earlier during the session, while the Nasdaq Composite climbed 0.52% to 20,273.46 during Friday's session.



Investors are awaiting earnings results from Progress Software Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRGS#NASDAQ">PRGS</a>) and Quantum Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QMCO#NASDAQ">QMCO</a>) today.



What is CNN Business Fear &amp; Greed Index?



At a current reading of 64.6, the index remained in the &#8220;Greed&#8221; zone on Friday, versus a prior reading of 62.7.



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: 



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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/06/46136470/jim-cramer-just-revealed-1-oil-stock-he-actually-wants-to-own">Jim Cramer Just Revealed 1 Oil Stock He Actually Wants To Own</a> </li>
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Photo courtesy: Shutterstock

Pre-Market Outlook

S&P Hits Record High Amid Easing Trade Tensions: Investor Sentiment Improves, Fear Index Remains In 'Greed' Zone

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