U.S. stock futures were trading lower on Thursday after closing lower on Wednesday. Futures of major benchmark indices declined in premarket.



President Donald Trump announced that a new trade agreement with China had been reached, <a href="https://www.benzinga.com/news/25/06/45882971/wall-street-eyes-record-highs-as-trump-seals-china-deal-soft-inflation-eases-tariff-jitters">pending final signatures</a> from him and Chinese President Xi Jinping. 



Meanwhile, Treasury Secretary Scott Bessent indicated that the Trump administration<a href="https://www.benzinga.com/markets/macro-economic-events/25/06/45898040/scott-bessent-signals-willingness-to-extend-tariff-pause-for-good-faith-negotiations-trump-thinks-not-a-necessity"> might extend the current 90-day tariff pause </a>past July 9 for the United States&#8217; major trading partners, provided these partners demonstrate &#8220;good faith&#8221; in their ongoing trade talks.



The 10-year Treasury bond yielded 4.39% and the two-year bond was at 3.92%. 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 99.8% likelihood of the Federal Reserve keeping the current interest rates unchanged in its June 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>-0.55%</td></tr><tr><td>S&amp;P 500</td><td>-0.32%</td></tr><tr><td>Nasdaq 100</td><td>-0.23%</td></tr><tr><td>Russell 2000</td><td>0.69%</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 Thursday. The SPY was down 0.33% at $599.36, while the QQQ declined 0.27% to $530.99, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From Last Session:



U.S. stocks mostly settled lower on Wednesday, but the energy and utilities stocks bucked the overall market trend, closing the session higher.



Materials, communication services, and consumer discretionary stocks recorded the biggest losses. This occurred amid signs of progress in U.S.-China trade negotiations and cooler-than-expected inflation data.



On the economic front, the Bureau of Labor Statistics reported that annual consumer inflation rose to 2.4% in May, slightly below the 2.5% forecast.



Core inflation held steady at 2.8%, also coming in softer than expected.



Shares of Chewy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>) fell 11% after the company reported first-quarter financial results and issued FY25 sales guidance below estimates.



The Dow Jones index ended one point or 0.0026% lower at 42,865.77, whereas the S&amp;P 500 index fell 0.27% to 6,022.24. Nasdaq Composite declined 0.50% to 19,615.88, and the small-cap gauge, Russell 2000, tumbled 0.38% to end at 2,148.23.



<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>-0.50%</td><td>19,615.88</td></tr><tr><td>S&amp;P 500</td><td>-0.27%</td><td>6,022.24</td></tr><tr><td>Dow Jones</td><td>-0.0026%</td><td>42,865.77</td></tr><tr><td>Russell 2000</td><td>-0.38%</td><td>2,148.23</td></tr></tbody></table></figure>



Insights From Analysts:



Analysts at BlackRock detailed their insights on the stock market during their Midyear Forum.



According to its note, their takeaways were &#8220;look through near-term noise; be deliberate about the kinds of risk you're taking; leverage AI; and watch for biases.&#8221;



BlackRock reiterated focusing on the big picture. For all the ups and downs in markets since the start of the year, they agreed that the drivers of the best-performing companies' equity gains have not changed much.



&#8220;Our portfolio managers discussed several other techniques for spotting opportunities. They are leveraging AI to discern the signal from the noise, as well as tracking patterns and sentiment shifts in their own discussions. They also discussed the importance of being aware of and managing behavioral biases, recognizing that people are less likely to take risk when uncertainty is higher,&#8221; the note added.



Meanwhile, after a better-than-expected May inflation print, Ed Yardeni said that &#8220;Trump&#8217;s tariffs might not be as inflationary as feared. In other words, the widely anticipated stagflation scenario remains a no-show.&#8221;



However, the chief economist at LPL Financial, Jeffrey Roach, said, "Surprisingly, new and used vehicle prices declined in May, despite many expecting an increase in prices from tariffs."



According to him, prices for <a href="https://www.benzinga.com/markets/equities/25/06/45899298/automotive-and-apparel-companies-absorbed-tariff-costs-amid-better-than-expected-may-cpi-print-b">apparel and autos</a>, "both highly sensitive to trade conditions, declined in May." Apparel prices also declined in April, indicating that these companies likely "absorbed tariff costs."



"But don&#8217;t expect that to continue," he 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 Thursday:



<ul class="wp-block-list">
<li>The initial jobless claims data for the week ended June 7 and the headline and core producer price index data for May will be released by 8:30 a.m. ET.</li>
</ul>



Stocks In Focus:



<ul class="wp-block-list">
<li>America&#8217;s CAR-MART Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRMT#NASDAQ">CRMT</a>) was up 2.01% in premarket on Thursday as analysts expect it to report quarterly earnings of 96 cents per share on revenue of $351.85 million, before the opening bell.</li>



<li>Adobe Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) rose 0.28% ahead of its earnings, which are supposed to be released after the closing bell. Analysts expect earnings of $4.96 per share on revenue of $5.79 billion.</li>



<li>RH (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RH#NYSE">RH</a>) fell 0.55% as analysts expect it to report a quarterly loss of 9 cents per share on revenue of $818.12 million after the closing bell.</li>



<li>Lovesac Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOVE#NASDAQ">LOVE</a>) advanced 3.07% ahead of its earnings, which are supposed to be released before the opening bell. Analysts expect a quarterly loss of 71 cents per share, on revenue of $137.47 million.</li>



<li>Oxford Industries Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXM#NYSE">OXM</a>) dropped 9.05% after reporting in-line earnings for the first quarter and issuing second-quarter earnings guidance below estimates. Also, the company lowered its FY25 guidance.</li>



<li>Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) jumped 7.61% after reporting better-than-expected fourth-quarter financial results and issuing upbeat outlook commentary.</li>



<li>Intensity Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTS#NASDAQ">INTS</a>) slumped 47.84% after announcing a proposed public offering of its common stock.</li>
</ul>



Commodities, Gold, And Global Equity Markets:



Crude oil futures were trading lower in the early New York session by 1.41% to hover around $67.19 per barrel.



Gold Spot US Dollar rose 0.15% to hover around $3,360.25 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was lower by 0.52% at the 98.1210 level.



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



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/06/45899298/automotive-and-apparel-companies-absorbed-tariff-costs-amid-better-than-expected-may-cpi-print-b">Automotive And Apparel Companies &#8216;Absorbed Tariff Costs&#8217; Amid Better Than Expected May CPI Print: &#8216;But Don&#8217;t Expect That To Continue,&#8217; Says Expert</a></li>
</ul>



Photo courtesy: Shutterstock

Equities

ADBE

CHWY

CRMT

INTS

LOVE

ORCL

US Stocks Likely To Open Lower: 'Look Through Near-Term Noise, Be Deliberate About The Kinds Of Risk You're Taking, Leverage AI,' Say Experts

Editor&#8217;s Note: The story has been updated to include Boeing's comments.



An Air India Boeing 787-8 Dreamliner by&nbsp;Boeing Co.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) crashed on Thursday near the Ahmedabad airport, with 242 passengers on board. The flight was en route to London Gatwick from Ahmedabad.



What Happened:&nbsp;The Air India flight, AI171, met with a tragic fate during takeoff from the Sardar Vallabhbhai Patel International Airport in Ahmedabad on Thursday.



The passenger aircraft, a Boeing 787 Dreamliner with a capacity of 300, crashed in the Meghani area of the city. Thick smoke was seen rising from Dharpur near Meghaninagar, suggesting a major fire likely caused by the substantial fuel load carried for the long-haul flight to London. Emergency response units and fire brigade teams have been deployed to the scene.



Boeing tells Benzinga, &#8220;We are aware of initial reports and are working to gather more information.&#8221;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Flight AI171, operating Ahmedabad-London Gatwick, was involved in an incident today, 12 June 2025. At this moment, we are ascertaining the details and will share further updates at the earliest on <a href="https://t.co/Fnw0ywg2Zt">https://t.co/Fnw0ywg2Zt</a> and on our X handle (<a href="https://t.co/Id1XFe9SfL">https://t.co/Id1XFe9SfL</a>). -Air India…&mdash; Air India (@airindia) <a href="https://twitter.com/airindia/status/1933086483142902226?ref_src=twsrc%5Etfw">June 12, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



SEE ALSO:&nbsp;<a href="https://benzinga.com/crypto/cryptocurrency/25/06/45898426/michael-saylor-shrugs-off-quantum-computing-threat-to-bitcoin-warns-companies-like-microsoft-google-more-vulnerable-youll-see-it-coming-a-mile-away" target="_blank" rel="noreferrer noopener">Michael Saylor Shrugs Off Quantum Computing Threat To Bitcoin, Warns Companies Like Microsoft, Google More Vulnerable: &#8216;You&#8217;ll See It Coming A Mile Away&#8217; </a>



<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">We are following reports of a crash of Air India flight <a href="https://twitter.com/hashtag/AI171?src=hash&amp;ref_src=twsrc%5Etfw">#AI171</a> from Ahmedabad to London. We received the last signal from the aircraft at 08:08:51 UTC, just seconds after take off. The aircraft involved is a Boeing 787-8 Dreamliner with registration VT-ANB… <a href="https://t.co/EmKKISJldF">pic.twitter.com/EmKKISJldF</a>&mdash; Flightradar24 (@flightradar24) <a href="https://twitter.com/flightradar24/status/1933086087682904336?ref_src=twsrc%5Etfw">June 12, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Why It Matters: This incident adds to the recent challenges faced by Boeing. In 2024, a Boeing 737-800 operated by South Korea's <a href="https://www.benzinga.com/markets/equities/24/12/42716905/boeing-in-spotlight-after-fatal-737-800-crash-in-south-korea-stock-declined-28-amid-deepening-2024-challenges">JejuAir crashed</a>, killing 179 of 181 passengers. This raised serious questions about Boeing&#8217;s safety record and led to a 30% stock decline in the same year.



In May, the U.S. Department of Justice (DoJ) moved to dismiss a <a href="https://www.benzinga.com/markets/equities/25/05/45689735/us-justice-department-seeks-to-dismiss-boeings-fraud-charges-on-737-max-crashes-that-killed-over-300">criminal fraud</a> charge against Boeing, linked to two fatal 737 MAX plane crashes that claimed 346 lives. This decision followed an agreement between Boeing and the Justice Department.



In January 2013, the entire global fleet of Boeing 787 Dreamliners was grounded following a series of safety incidents linked to the aircraft&#8217;s lithium-ion batteries. The U.S. Federal Aviation Administration (FAA) responded by issuing an emergency airworthiness directive, requiring airlines to prove the safety of the batteries before resuming operations. Aviation authorities in Europe, Japan, and other regions quickly followed suit, grounding all Dreamliners operated by eight airlines worldwide. Boeing, while standing by the integrity of the 787, worked with regulators and airlines to develop technical solutions, including redesigning the battery system and adding fireproof containment, before the aircraft was cleared to return to service about three months later



During Thursday&#8217;s pre-market trading session, shares of Boeing declined 7.2%. On a year-to-date basis, it surged 24.51%.



<ul class="wp-block-list">
<li>READ MORE:&nbsp;<a href="https://benzinga.com/analyst-stock-ratings/initiation/25/06/45881612/this-coinbase-global-analyst-begins-coverage-on-a-bullish-note-here-are-top-5-initiations-for-wednesday" target="_blank" rel="noreferrer noopener">This Coinbase Global Analyst Begins Coverage On A Bullish Note; Here Are Top 5 Initiations For Wednesday</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

Markets

Boeing Dreamliner Carrying Over 200 Passengers Crashes Shortly After Takeoff Near India's Ahmedabad: BA Stock Falls Over 7% In Thursday Pre-Market (UPDATED)

The euro has lost its position as the second-largest reserve asset globally, with gold taking its place, the European Central Bank (ECB) stated in its 2025 annual review.



The top European financial institution took notice of a surge in central bank purchases and record-breaking prices of <a target="_blank" href="https://www.benzinga.com/topic/gold" rel="noreferrer noopener">the yellow metal</a>. At 20% of reserves, gold is slowly closing the gap on the U.S. dollar, which leads at 46%.



"Adjusted for inflation, real gold prices in 2024 surpassed their previous peak seen during the 1979 oil crisis. Meanwhile, gold reserves held by central banks stand at levels close to those last seen in the Bretton Woods era (36,000 tons), although they now account for a far smaller share of total gold supply," the ECB said in the <a target="_blank" href="https://www.ecb.europa.eu/press/other-publications/ire/focus/html/ecb.irebox202506_01~f93400a4aa.en.html" rel="noreferrer noopener">review</a>.



Also Read: <a target="_blank" href="https://www.benzinga.com//node/45893521" rel="noreferrer noopener">US Embassy Evacuations Spark Middle East Risks, And Markets Are Noticing</a>



The bank has stated the persistent rally into 2025, which has (for now) topped at $3,500 per ounce, driven by a mix of investor interest and persistent official sector demand.



The geopolitical shock of Russia's invasion of Ukraine in 2022 triggered a reassessment of reserve strategies among central banks. Concerns over sanctions and the weaponization of reserve currencies drove a shift toward gold, which has long been viewed as a neutral store of value.



This trend was notable among countries geopolitically aligned with or near China and Russia, many of which began increasing their gold holdings in late 2021.



In response, gold demand from the official sector surged to historic highs. Central banks added over <a target="_blank" href="https://www.benzinga.com/economics/macro-economic-events/25/02/43512109/gold-extends-records-as-central-banks-rush-to-buy-bullion-miners-eye-sixth-straight-winning-week" rel="noreferrer noopener">1,000 tons of gold</a> in each of the past three years—more than double the pace seen during the 2010s.



In 2024 alone, official sector purchases represented over 20% of global gold demand, effectively doubling the average share of 10% in the previous decade.



According to recent data from the World Gold Council, Türkiye, India, China, and Poland were the <a target="_blank" href="https://www.gold.org/goldhub/gold-focus/2025/05/indias-gold-market-update-gains-hold-despite-demand-pressure" rel="noreferrer noopener">largest gold buyers</a>, collectively adding over 600 tons since the end of 2021. Interestingly, while India recently became the fourth-largest global economy, Poland is its European counterpart and the only regional outperformer in 2024,<a target="_blank" href="https://think.ing.com/snaps/poland-cee-peers-2024/" rel="noreferrer noopener"> ING research</a> showed.



Boosted gold reserves could help these economies to <a target="_blank" href="https://www.benzinga.com/markets/commodities/25/05/45617358/gold-demand-holds-firm-as-dollar-confidence-wavers" rel="noreferrer noopener">safeguard against de-dollarization</a>, and hedge against inflation and political instability.



Despite gold's impressive climb, its dominance is still constrained by supply limitations and competition from other reserve assets. Notably, the global gold supply is expected to grow by just<a target="_blank" href="https://www.benzinga.com/markets/commodities/25/06/45828108/global-gold-supply-to-grow-1-in-2025-report-shows" rel="noreferrer noopener"> 1% in 2025</a>, while the U.S. dollar money supply (M2) has grown by<a target="_blank" href="https://ycharts.com/indicators/us_m2_money_supply_yoy" rel="noreferrer noopener"> 4.44%</a> in the last 12 months.



Price Watch: SPDR Gold Shares ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) is up 25.6% year-to-date.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/commodities/25/06/45891893/is-the-us-secretly-hoarding-gold-expert-says-do-it-first-tell-the-world-after" target="_blank" rel="noreferrer noopener">Is The U.S. Secretly Hoarding Gold? Expert Says ‘Do It First, Tell the World After'</a></li>
</ul>



Photo by FOTOGRIN via Shutterstock

Macro Economic Events

Commodities

Economics

GLDM

OUNZ

SGOL

USDU

Gold Surpasses Euro To Become Second-Largest Reserve Asset, Still Far Behind Dollar, ECB Says

Following Apple Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) <a href="https://www.benzinga.com/markets/tech/25/06/45846510/apple-wwdc-2025-from-live-translation-to-genmoji-visual-ai-and-chatgpt-integration-here-are-the-new-apple-intelligence-features">WWDC 2025</a>, Dan Ives, global head of technology research at Wedbush Securities, said the tech giant &#8216;might be forced&#8217; to pursue a merger or acquisition with an AI platform like Perplexity, or one of several others—<a href="https://www.benzinga.com/news/14/05/4542648/the-reasons-behind-apples-reported-acquisition-of-beats">similar to its 2014 acquisition</a> of Beats—to remain competitive in AI and meet growing consumer demands.



What Happened: During an interview with DW Business on Tuesday, Ives discussed Apple's current position in the AI race, highlighting the <a href="https://www.benzinga.com/tech/25/03/44068020/apples-ai-crisis-falling-behind-in-the-ai-race">company's lag behind competitors</a> like Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google, Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and AI startups like OpenAI.



He highlighted that Apple's iOS ecosystem could provide an advantage, but the company needs to act quickly to leverage AI.



Read Also:&nbsp;<a href="https://www.benzinga.com/trading-ideas/movers/25/06/45887072/whats-going-on-with-gamestop-stock-wednesday-2" target="_blank" rel="noreferrer noopener">What's Going On With GameStop Stock Wednesday?</a>



He also noted that consumers need reasons to upgrade, especially when AI advancements are becoming a key driver in technology. Without a strong AI offering, Apple risks falling behind in a critical area that's shaping the future of tech.



&#8220;On one hand, you have a golden install base in the world &#8230; you got to monetize on AI,&#8221; he said, adding, &#8220;Right now they&#8217;re way behind and I think that&#8217;s a concern for investors and I&#8217;d say even from a consumer perspective. You need reasons to upgrade.&#8221;



When asked about the argument that AI isn't yet aligned with Apple's brand, Ives suggested that Apple must participate in AI or risk being left behind.



&#8220;I do think maybe culturally in some of their standards &#8230; but look, the reality is they&#8217;re going to have to accelerate this because it&#8217;s the biggest technology innovation in the last 40-50 years and Apple can&#8217;t be on the outside looking in,&#8221; he stated.



Perplexity did not immediately respond to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment on whether the AI firm is open to acquisition. 



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Apple falls behind in AI race &#x7C; DW News" width="500" height="281" src="https://www.youtube.com/embed/WZ1nCdj-1DU?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div></figure>



Why It's Important: Apple&#8217;s new iOS 26 design, &#8220;Liquid Glass,&#8221; introduced at WWDC 2025, is also <a href="https://www.benzinga.com/markets/tech/25/06/45852236/steve-jobs-would-have-fired-everyone-apples-liquid-glass-in-ios-26-gets-roasted-online-dan-ives-calls-wwdc-2025-a-yawner">facing significant backlash</a> online. The translucent, fluid interface spans across various elements like buttons and the Control Center, aiming to enhance user experience.



Despite Apple touting its innovation, people on social media, including investor Ross Gerber, have expressed strong disapproval, with some saying Steve Jobs would not have approved.



Previously, Ives also characterized the event as highlighting &#8220;slow and steady improvements,&#8221; but ultimately dismissed it as &#8220;a yawner.&#8221;



On the other hand, Gene Munster of Deepwater Asset Management said Apple isn&#8217;t yet ready to reveal its more advanced AI efforts but has time to catch up.



He noted the most important WWDC 2025 announcement was the Foundation Model framework, which enables easier on-device integration of Apple Intelligence for developers.



Price Action: Apple shares have declined 18.48% year-to-date and are down 6.71% over the past 12 months, according to <a href="http://pro.benzinga.com/">Benzinga Pro data</a>.



Benzinga's Edge Stock Rankings reflect a downward trend for Apple across short, medium and long-term periods. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Additional performance metrics can be found here</a>.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/12042159/Screenshot-2025-06-12-at-1.37.32%E2%80%AFPM.png" alt="" class="wp-image-947244"/></a></figure>



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/06/45889800/dow-jones-breaks-43000-palantir-hits-new-record-highs-whats-driving-markets-wednesday" target="_blank" rel="noreferrer noopener">Dow Jones Breaks 43,000, Palantir Hits New Record Highs: What's Driving Markets Wednesday?</a></li>
</ul>



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



Photo Courtesy: Prathmesh T on Shutterstock.com

Tech

AAPL

GOOG

GOOGL

MSFT

Apple May End Up Acquiring Perplexity Like It Did With Beats In 2014, Says Dan Ives—Consumers Need 'Reasons To Upgrade' As iPhone Maker Falls 'Way Behind' In AI Race

Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) is preparing to roll out its AI Copilot tool for the Pentagon by summer 2025.



What Happened: In a meeting earlier, the company's Chief Commercial Officer, Judson Althoff, said that a major customer with over 1 million Microsoft 365 licenses is set to adopt Copilot, Business Insider <a href="https://www.businessinsider.com/microsoft-copilot-licenses-million-ai-2025-6">reported</a> on Wednesday, citing sources. 



The Pentagon is a likely candidate given its large workforce, including 2.1 million military members and 770,000 civilian employees, <a href="https://www.businessinsider.com/microsoft-prepping-ai-copilot-pentagon-2025-6">according</a> to the media outlet.



See Also:&nbsp;<a href="https://www.benzinga.com/markets/tech/25/06/45807465/dan-ives-calls-musk-trump-feud-a-twilight-zone-moment-but-bullish-on-tesla-and-autonomous-future-not-good-for-either-side" target="_blank" rel="noreferrer noopener">Dan Ives Calls Musk-Trump Feud A ‘Twilight Zone Moment' But Bullish On Tesla And Autonomous Future: ‘Not Good For Either Side'</a>



In a March blog post written for government customers, Microsoft revealed plans to introduce a version of its Copilot AI tool tailored for the Pentagon and other high-security government clients by the summer of 2025.



Pentagon did not immediately respond to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.



Why It Matters: The tool, part of Microsoft 365, is designed to automate tasks and enhance productivity across platforms like Word, Excel and PowerPoint.



"Work is ongoing to ensure the offering meets the necessary security and compliance standards," Microsoft stated, highlighting the significant effort involved in adapting the tool for DoD environments.



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



Microsoft 365 Copilot uses AI models to assist employees with repetitive tasks, offering insights and streamlining workflows.



Price Action: Microsoft shares rose 0.36% on Wednesday and edged up another 0.085% in after-hours trading, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.



Benzinga&#8217;s Edge Stock Rankings show a positive trajectory for MSFT across short, medium and long-term periods. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound'">Additional performance insights can be found here</a>.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound'"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/11231035/Screenshot-2025-06-12-at-8.33.47%E2%80%AFAM.png" alt="" class="wp-image-946931"/></a></figure>



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45396297/cathie-wood-dumps-palantir-as-stock-touches-peak-prices-bails-on-soaring-flying-taxi-maker-archer-aviation" target="_blank" rel="noreferrer noopener">Cathie Wood Dumps Palantir As Stock Touches Peak Prices, Bails On Soaring Flying-Taxi Maker Archer Aviation</a></li>
</ul>



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



Image Via Shuterstock

Government

Media

Microsoft To Roll Out AI Copilot For Pentagon By Summer 2025, Tailoring Productivity Tool For High-Security Government Use: Report

On Wednesday, Cathie Wood&#8217;s Ark Invest made significant trades, with the most prominent being in Beam Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BEAM#NASDAQ">BEAM</a>), GitLab Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GTLB#NASDAQ">GTLB</a>), Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>), Roblox Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>), Kratos Defense and Security Solutions Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KTOS#NASDAQ">KTOS</a>), Cloudflare Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>), CrowdStrike Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>), CoreWeave Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWV#NASDAQ">CRWV</a>) and Avidxchange Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVDX#NASDAQ">AVDX</a>).



The BEAM Trade: Ark Invest&#8217;s ARK Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#BATS">ARKK</a>) purchased 349,264 shares of Beam Therapeutics. The biotech company&#8217;s stock has been on the radar of many investors due to its innovative approach to genetic medicines.



The value of this trade, based on the day&#8217;s closing price, is approximately $6.25 million.



The GTLB Trade: GitLab also saw significant buying activity from Ark Invest. The ARKK and ARK Next Generation Internet ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#BATS">ARKW</a>) bought a combined total of 227,698 shares of the software company. GitLab has been gaining traction in the tech industry with its single application for the entire software development lifecycle. The total value of this trade is around $9.88 million.



The PLTR Trade: In contrast to the buying activity in BEAM and GTLB, Ark Invest sold shares of Palantir Technologies across its ARKK, ARK Autonomous Technology &amp; Robotics ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKQ#BATS">ARKQ</a>), and ARK Space Exploration &amp; Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKX#BATS">ARKX</a>).



This move comes after <a href="https://www.benzinga.com/25/05/45242668/cathie-wood-sells-41-million-worth-of-palantir-shares-following-post-earnings-plunge">Palantir&#8217;s stock faced pressure</a>, despite surpassing first-quarter earnings expectations, and amid a brewing controversy surrounding the company's alleged involvement in a surveillance program.



The total shares sold amounted to 53,829, with a value of around $7.34 million.



Other Key Trades:



<ul class="wp-block-list">
<li>Roblox Corp: Ark Invest sold 98,362 shares via the ARKK ETF.</li>



<li>Kratos Defense and Security Solutions Inc: Ark Invest sold a combined total of 83,378 shares across the ARKQ and ARKX ETFs.</li>



<li>Cloudflare Inc: Ark Invest sold 5,193 shares via the ARKW ETF.</li>



<li>CrowdStrike Holdings Inc: Ark Invest sold 1,969 shares via the ARKW ETF.</li>



<li>CoreWeave Inc: Ark Invest sold 12,728 shares via the ARKW ETF.</li>



<li>Avidxchange Holdings Inc: Ark Invest sold 96 shares via the ARK Fintech Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#BATS">ARKF</a>).</li>
</ul>



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/06/45844424/apple-wwdc-2025-ios-26-announced-with-liquid-glass-design-new-apple-intelligence-features-and-more">Apple WWDC 2025: iOS 26, macOS Tahoe 26 And More Announced With Liquid Glass Design, Live Translation, Other Apple Intelligence Features</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: ChrisStock82 / Shutterstock.com

ARKF

ARKK

ARKQ

ARKW

ARKX

AVDX

BEAM

CRWD

CRWV

GTLB

KTOS

PLTR

RBLX

Cathie Wood's Ark Invest Continues To Offload Palantir, Loads Up On Beam Therapeutics, GitLab

A cryptocurrency named after GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) blasted to triple-digit gains Wednesday after the video game retailer announced plans to raise over a billion dollars for investment purposes.



What happened: BNB Chain (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bnb/usd">BNB</a>)-based GameStop Coin (GME) soared a whopping 532% in the last 24 hours, defying the broader market correction. The memecoin recorded a significant surge in trader interest, with volume jumping by 53%.



GME outperformed blue-chip cryptocurrencies like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), which fell 1.21% and 2.30%, respectively.



Note that the token is unrelated to GameStop and merely seeks to capitalize on the hype surrounding the meme stock.



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/25/06/45740537/forget-dollars-willy-woo-says-bitcoin-will-be-priced-against-global-gdp-gold-used-to-be-that-money-btc-is-the-challenger">Forget Dollars: Willy Woo Says Bitcoin Will Be Priced Against Global GDP — &#8216;Gold Used To Be That Money, BTC Is The Challenger&#8217;</a>



Why It Matters: The explosive rally came after GameStop announced a <a href="https://www.benzinga.com/trading-ideas/movers/25/06/45893917/gamestop-stock-is-tumbling-after-hours-heres-why">proposed private offering</a> of $1.75 billion of 0.00% convertible senior notes to institutional buyers.



The company said it intends to use the net proceeds from the offering to make investments "consistent" with its investment policy.



Notably, GameStop adopted a <a href="https://www.benzinga.com/content/45684091/gamestop-buys-bitcoin-smart-strategy-or-big-mistake">Bitcoin treasury strategy</a> earlier this year and made its first purchases, about 4,700 BTC for $512.6 million, last month.



GameStop reported <a href="https://www.benzinga.com/markets/earnings/25/06/45872536/gamestop-q1-earnings-revenue-misses-despite-collectibles-growth-eps-beats-retailer-adds-4710-bitcoin">first-quarter revenue</a> of $732.4 million on Tuesday, missing analyst estimates of $754.24 million. The company reported adjusted earnings of 17 cents per share, beating analyst estimates of four cents per share



Price Action:&nbsp; At the time of writing, GME was exchanging hands at $0.000004406 down 0.75% in the last 24 hours, <a href="https://coinmarketcap.com/currencies/gamestopcoin-net/">according </a>to CoinMarketCap.



Shares of GME plunged 11.2% in after-hours trading after closing 5.31% lower at $28.55 during Wednesday's regular trading session, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;



GME stock recorded a high Growth score but lagged in Momentum and Value metrics as of this writing. If you want to fill your portfolio with similar high-growth stocks, visit <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Benzinga Edge Stock Rankings</a> for reference.



<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="878" height="632" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/12001719/image-172.png" alt="" class="wp-image-946961" style="width:598px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/12001719/image-172.png 878w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/12001719/image-172-300x216.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/12001719/image-172-768x553.png 768w" sizes="(max-width: 878px) 100vw, 878px" /></a></figure>



Benzinga Note: Investing in meme coins is highly speculative and involves significant risk. Meme coins often lack intrinsic value and are driven by market sentiment, social media trends, and speculative trading



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45876652/trump-family-backed-bitcoin-mining-firm-acquires-23-million-worth-of-btc-signals-more-accumulation-in-the-future">Trump Family-Backed Bitcoin Mining Firm Mines $23 Million Worth Of BTC, Signals More Accumulation In The Future</a></li>
</ul>



Photo Courtesy: Tada Images On Shutterstock.com

Cryptocurrency

Movers

Trading Ideas

$BNB

$BTC

$DOGE

GameStop-Themed Crypto Skyrockets Over 500% After Retailer Announces $1.75 Billion Investment Plan

Walt Disney Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) and Comcast Corp.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>) Universal Studios on Wednesday filed a copyright lawsuit against Midjourney, an AI-powered <a href="https://www.benzinga.com/news/24/08/40500831/midjourney-opens-web-experience-to-all-amid-controversy-over-unauthorized-use-of-artists-work">image generation service. </a>



What Happened: The companies submitted the lawsuit in a federal court in Los Angeles and accused Midjourney of unauthorized use and distribution of the studios' most famous characters, according to a Reuters report. 



The lawsuit called Midjourney&#8217;s platform a "bottomless pit of plagiarism." 



Read Next: <a href="https://www.benzinga.com/markets/tech/25/06/45885805/nvidias-jensen-huang-sparks-quantum-stock-frenzy?utm_source=articleShare">Nvidia&#8217;s Jensen Huang Sparks Quantum Stock Frenzy</a>



The companies alleged that Midjourney unlawfully copied and distributed countless images featuring characters such as Darth Vader from "Star Wars," Elsa from "Frozen" and the Minions from "Despicable Me," among others.



Disney and Universal claimed they had previously asked Midjourney to stop infringing on their copyrighted works or, at least, to implement technical measures to prevent such use, but the company reportedly ignored these requests. 



Instead, the studios argued, Midjourney continued to release improved versions of its service, resulting in higher-quality infringing images. The lawsuit was filed by seven corporate entities representing the Disney and Universal film units that owned or managed the copyrights for these characters.



Disney and Universal are seeking a preliminary injunction to block Midjourney from copying their works or offering its image and video generation services without protections against copyright infringement. The studios are also pursuing unspecified damages.



Read Next: <a href="https://www.benzinga.com/news/space/25/06/45840240/trump-musk-feud-fuels-spacex-rivals-space-stock-countdown?utm_source=article">Trump, Musk Feud Fuels SpaceX Rivals: Space Stock Countdown</a>



Why It Matters: Midjourney was also named in a <a href="https://www.benzinga.com/general/24/02/37398914/the-4-700-artist-ai-controversy-artists-accuse-midjourney-and-other-ai-firms-of-unauthorized-use-in">separate 2023 lawsuit</a>, which remains ongoing.



The suit claimed several AI image generators, including Midjourney, had used the works of over 4,700 artists, including well-known names such as Norman Rockwell and Wes Anderson, to train their systems without consent or compensation.



The controversy gained traction after artist Jon Lam shared the "Midjourney Style List" on social media, sparking debate about the lack of regulation in the AI-generated art space. 



The list, reportedly disclosed by Midjourney's founder in a public forum, fueled artists' frustrations over being excluded from the profits made by AI platforms that monetize their styles through subscription services. 



Read Next:&nbsp;



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<li><a href="https://www.benzinga.com/trading-ideas/movers/25/06/45851086/these-are-the-3-hottest-stock-market-themes-trending-now?utm_source=articleShare">These Are The 3 Hottest Stock Market Themes Trending Now</a></li>
</ul>



Image: Shutterstock

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CMCSA

Disney, Universal Studios Sue AI-Image Generator Midjourney For Copyright Infringement

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