Wall Street returned to record highs at the end of June, with both the S&amp;P 500 and Nasdaq 100 breaking above their February peaks, capping a powerful rebound from <a href="https://www.benzinga.com/markets/economic-data/25/06/46124290/sp-500-hits-record-highs-and-history-says-the-best-is-yet-to-come">April's tariff-driven lows.</a>



Investor sentiment turned positive as geopolitical and trade risks eased. Oil prices slumped $12 to $65 after a symbolic Iranian strike on a U.S. base in Qatar failed <a href="https://www.benzinga.com/markets/25/06/46101460/oil-was-supposed-to-soar-on-iran-strikes-it-just-crashed-instead">to escalate tensions further. </a>



President Donald Trump announced that a ceasefire between Israel and Iran had been established, effectively ending the 12-day conflict.



During his two-day testimony before Congress, Federal Reserve Chair Jerome Powell said this year's tariff hikes are likely to raise prices and weigh on the economy, warranting caution <a href="https://www.benzinga.com/markets/economic-data/25/06/46077396/powell-interest-rates-trump-inflation-tariffs">on interest rate cuts.</a>



Powell's neutral tone sparked renewed friction with President Trump, who continues to criticize the Fed chair and fuel speculation over a possible leadership change when Powell's term <a href="https://www.benzinga.com/news/25/06/46115346/trump-powell-fed-chairman-odds-dollar">ends in May 2026</a>.



Markets now anticipate that Trump's influence could lead to a more dovish pivot at the central bank. Traders are pricing in two rate cuts before year-end and persistent dollar weakness, with the U.S. Dollar Index falling to levels last seen in February 2022—before Russia's invasion of Ukraine—and heading for its worst <a href="https://www.benzinga.com/markets/economic-data/25/06/46146713/trump-dollar-outlook-tariffs-debt">half-year since 1991.</a>



The stock rally gained momentum at the end of the week as Commerce Secretary Howard Lutnick said the U.S. reached a trade agreement with China. Officials also signaled progress in trade talks with at least 10 other countries, suggesting a softening stance from the White House toward protectionist policies.



In corporate news, Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) surged to new record highs, reaching a market <a href="https://www.benzinga.com/content/46149573/nvidias-stock-price-hits-new-highs-this-is-whats-next">capitalization of $3.85 trillion. </a>



The AI-chip giant reclaimed the title of the world's most valuable publicly traded company, overtaking Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) once again amid continued dominance in the AI chip market. 



On Friday, Trump announced an abrupt halt to all trade negotiations with Canada, a key U.S. trading partner, due to a Digital Services Tax on U.S. corporations. The move halted the market&#8217;s strong gains during the session and raised investor anxiety ahead of July&#8217;s 9 tariff deadline.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/06/46150909/trump-canada-tariffs-dollar-deal">Trump Flips On Canada Trade Deal, Sending Shivers Through Wall Street</a> </li>
</ul>



Image created using artificial intelligence via Midjourney.

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NVDA

Wall Street Soars To Record Highs, Nvidia Becomes World's Most Valuable Company: This Week In Markets

Wall Street flipped sharply Friday afternoon after President Donald Trump stunned markets by halting all trade negotiations with Canada, a reversal that chilled earlier optimism and sent investors <a href="https://www.benzinga.com/markets/economic-data/25/06/46146713/trump-dollar-outlook-tariffs-debt">fleeing from risk assets.</a>



In a post on Truth Social, Trump said Canada "has just announced that they are putting a Digital Services Tax on our American Technology Companies," calling it "a direct and blatant attack on our Country." 



The president declared an immediate end to trade discussions, adding, "We will let Canada know the Tariff that they will be paying to do business with the United States of America within the next seven-day period."



<h2 class="wp-block-heading">Markets Reverse Course On Shock Announcement</h2>



The shift in tone came as a shock to Wall Street, which had rallied earlier in the day on hopes that multiple trade deals were advancing.



The S&amp;P 500, which hit a record intraday high of 6,187, dropped sharply to 6,135 between 12:30 p.m. and 2:40 p.m. ET, wiping out gains.



Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), Enphase Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) and Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) were the S&amp;P 500&#8217;s worst performers, down 7.1%, 6.9% and 4.5% respectively.



The Dow Jones Industrial Average fell from 43,977 to 43,589, a 0.8% intraday swing, while the Nasdaq 100 declined from 22,600 to 22,400 as tech shares gave back momentum.



Earlier on Friday, markets had rallied after Trump said four to five trade agreements were in progress, and after U.S. Commerce Secretary Howard Lutwick confirmed a finalized deal with China involving reduced tariffs and safeguards for rare earths.



Currency markets reacted swiftly to the new tension. The euro-dollar exchange rate reversed sharply, falling below the 1.17 mark and turning negative for the day. The U.S. Dollar Index climbed to 97.50, on track to close higher after hitting the lowest levels since early 2022.



The Canadian dollar sharply weakened, with the USD/CAD exchange rate surging from 1.3670 to 1.3750 amid concerns that the trade fallout could hurt economic growth.



Meanwhile, the iShares MSCI Canada Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWC#NYSE">EWC</a>) slipped nearly 1%, falling from $45.78 to $45.39. 



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/commodities/25/06/46120819/platinum-miners-forecasts-stocks">Platinum&#8217;s Biggest Rally In 40 Years: These 6 Mining Stocks Could Be Top Gainers</a></li>
</ul>



Photo: Shutterstock

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COIN

ENPH

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Trump Flips On Canada Trade Deal, Sending Shivers Through Wall Street

The United States is in the midst of a structural transformation in its role within the global energy system, and this time it's not about shale oil.



It's about liquefied natural gas (LNG), where the U.S. is now the world&#8217;s largest exporter, and where capacity additions between now and 2030 are likely to redraw global gas trade maps.



The investment implications are real and investable.



I'm referring to Venture Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VG#NYSE">VG</a>) and NextDecade (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEXT#NASDAQ">NEXT</a>).



These are not hypothetical greenfield dreams. Both firms have signed long-term offtake agreements with major international buyers. Both are building or expanding export infrastructure on the Gulf Coast. And both are positioned to ride the next decade&#8217;s wave of demand from energy-starved allies in Europe and Asia who are rewriting energy security doctrine in real time.



<h2 class="wp-block-heading">Trading The Headlines: Chris Capre's Strategy For July</h2>



Markets are whipsawing on every headline—from global conflict to interest rate chatter. Join former Wall Street trader Chris Capre on July 2 to learn how he spots fast-moving trades, manages risk, and stays one step ahead in this volatile market. This could be your real-time plan for navigating July's chaos. Secure your seat <a href="https://events2.benzinga.com/chris-capre-webinar-wed-july2-2025-registration/?utm_campaign=webinar07025&amp;utm_adType=sponsorad&amp;utm_ad=RD063025">HERE</a> for free.



Let's look at the setup.



U.S. LNG exports have grown from effectively zero in 2015 to over 14 billion cubic feet per day (Bcf/d) in 2024, and that number could exceed 24 Bcf/d by 2028 based on projects already under construction.



LNG is now a critical geopolitical tool. After Russia&#8217;s invasion of Ukraine, Europe scrambled to replace piped gas with seaborne LNG. Imports from the U.S. filled the gap, particularly in Germany, France, the Netherlands, and Poland. Infrastructure buildout is ongoing and U.S. cargoes are winning long-term market share.



In Asia, the story is just as bullish. Japan and South Korea remain LNG-heavy economies with little domestic production. China, which briefly became the largest global importer of LNG in 2021, has returned to the market with an appetite, especially for low-emission cargoes. In Southeast Asia, countries such as Vietnam, Thailand, and the Philippines are expanding their regasification capacity to replace coal and support renewable energy.



This backdrop matters because U.S. LNG terminals tend to sign 20-year take-or-pay contracts, often with fixed tolling fees or indexed pricing tied to Henry Hub or Brent. That means project sponsors can lock in cash flows well before first gas and long before most equity investors start paying attention.



Venture Global, long considered one of the most aggressive and vertically integrated LNG developers in the U.S., went public in January 2025 with a $1.75 billion IPO that valued the company at roughly $58 billion. The firm already operates the Calcasieu Pass terminal in Louisiana, with 10 MTPA of nameplate capacity. It began commissioning the first phase of the Plaquemines LNG project in late 2024. The full Plaquemines complex is expected to reach 20 MTPA; the firm&#8217;s broader development pipeline targets over 70 MTPA of additional export capacity.



What differentiates VG is its modular construction model. Rather than traditional stick-built LNG trains, Venture Global uses prefabricated liquefaction units manufactured off-site and shipped to terminal locations. The strategy is designed to compress timelines and lower costs; so far, it has allowed VG to bring Calcasieu online faster than many of its rivals expected.



The company has long-term contracts with Shell, BP, Repsol, Edison, and other major energy companies. However, it is also embroiled in high-profile disputes with some of those same counterparties over commissioning delays and cargo availability during ramp-up phases. That legal overhang creates near-term risk, but it also validates VG&#8217;s strategic importance. Buyers are fighting for access to supply, and VG&#8217;s contracts are too big to walk away from. As these disputes are resolved, revenue recognition is expected to return to normal.



The bottom line: Venture Global is a genuine business with active operations, transparent cash flow, and a clear roadmap to becoming one of the world&#8217;s largest LNG exporters. With the IPO completed, the stock is now public and liquid, providing investors with exposure to U.S. LNG through a company that has already cleared the financing and permitting hurdles.



NextDecade is several years behind Venture Global in terms of operations, but it is potentially just as significant for long-term investors. The company is building the Rio Grande LNG terminal in Brownsville, Texas. Phase one is fully permitted and under construction, with five liquefaction trains targeting a capacity of 17.6 million tons per annum (MTPA). The company has already signed long-term offtake agreements with Shell, TotalEnergies, Itochu, Guangdong Energy, and Galp, among others.



The project reached final investment decision in 2023, and first gas is expected in 2027. Debt and equity financing were raised from a mix of institutional backers, including Global Infrastructure Partners and Mubadala. Engineering and construction are being handled by Bechtel, a global leader in LNG infrastructure, a de-risking factor that matters for a project of this scale.



NextDecade&#8217;s unique value proposition comes in part from its plans to incorporate carbon capture and storage (CCS) into its facility. The Carbon Capture and Storage (CCS) module, called NEXT Carbon Solutions, is designed to sequester up to 5 million metric tons of CO₂ per year. This has the potential to turn Rio Grande into one of the lowest-carbon LNG projects in the world, which is a major selling point for ESG-conscious buyers and a source of differentiation in an increasingly competitive LNG landscape.



Unlike Venture Global, which already produces and exports cargoes, NextDecade is still a development-stage company, which means investors are taking on more project execution risk. But the reward, if things go well, is substantial: a move from a few hundred million in market cap to multi-billion-dollar cash flow generation over the next decade.



Both companies benefit from the same macro trend: global demand for U.S. LNG is not going away. Supply disruptions in Russia, nuclear uncertainty in Japan and France, and policy-driven coal retirements across Asia all point in the same direction: more need for reliable, affordable gas.



VG is the scale operator. You get existing production, a large and growing pipeline, and a management team that has proven it can deliver projects, albeit not without controversy.



NEXT is the optionality bet. If Rio Grande executes cleanly and CCS proves to be a commercial differentiator, this company could become the next billion-dollar LNG franchise.



Investors should treat these differently. VG is a developing infrastructure play with existing EBITDA. NEXT is a pre-cash-flow, construction-phase opportunity where value will be unlocked in stages. One is a toll road with a legal fight. The other is a project finance story still unfolding.



This is not a bet on short-term gas prices. This is a bet on energy flows, hard infrastructure, and U.S. policy support for LNG exports. If you believe, as I do, that the world is going to need more natural gas for longer than current energy transition narratives would have us believe, then LNG export capacity becomes a valuable asset, and these are the companies building it.



NEXT gives you torque. VG gives you scale. Both are leveraged to a global need for clean, secure energy that is not going away. Both have the potential to be massive winners for patient, aggressive investors.



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

Trading Ideas

2 Ways To Play America's Energy Export Dominance

The first five months of Donald Trump&#8216;s presidency have coincided with one of the steepest collapses in the U.S. dollar in over three decades, as economic contraction, surging deficits and political friction with the Federal Reserve hammered investor <a href="https://www.benzinga.com/news/econ-s">confidence in the greenback. </a>



<h3 class="wp-block-heading">The Dollar&#8217;s Biggest Slump Since 1991</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/2025/06/27104141/image-427-1024x528.png" alt="" class="wp-image-965053" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/27104141/image-427-1024x528.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/27104141/image-427-300x155.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/27104141/image-427-768x396.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/27104141/image-427-1536x792.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/27104141/image-427-2048x1056.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



The U.S. Dollar Index, a benchmark that measures the greenback's strength against a basket of major currencies, has dropped over 10% year-to-date, marking its worst half-year performance since the second half of 1991.



After staging a powerful rally between late 2024 and January 2025 — gaining in 13 of 14 weeks on optimism over Trump's return and expected tax and tariff policies — the dollar turned sharply lower after Inauguration Day on Jan. 20.



<h2 class="wp-block-heading">What Triggered The Dollar Collapse?</h2>



Initial market expectations had priced in a stronger dollar under Trump, given his promises of tax cuts and protectionist trade policies. Yet, these measures backfired.



The tide began turning in March, when the euro surged after Germany's coalition government launched a major fiscal expansion, abandoning the country's long-held debt brake. Berlin approved a defense spending boost, while the European Union announced an €800 billion "ReArm Europe" program, sending capital flows into the eurozone.



April delivered a double blow to the greenback. On April 2, Trump introduced sweeping tariffs — dubbed "Liberation Day" — against several trading partners. Markets recoiled as the move triggered retaliatory threats and rising uncertainty. 



A 90-day pause, announced on April 9, failed to restore confidence in the greenback.



Economic data deepened the dollar's woes. The U.S. economy contracted by 0.5% in the first quarter, marking the first decline since 2022. At the same time, concerns mounted over deteriorating fiscal conditions.



<h3 class="wp-block-heading">Deficit Explosion And Debt Downgrade</h3>



Moody's downgraded U.S. sovereign debt, stripping Washington of its last AAA credit rating. The rating agency highlighted a sustained increase in government debt and interest payments over more than a decade as key reasons for the downgrade.&nbsp;



Meanwhile, the bipartisan Congressional Budget Office projected that Trump's flagship "One Big Beautiful Bill" would balloon the federal deficit by $2.8 trillion over the next decade. 



This comes as the federal deficit-to-GDP ratio already hovers near 7%, and total government debt surpasses 100% of GDP.



<h3 class="wp-block-heading">Fed Tensions Escalate, Rate Cut Bets Rise</h3>



Further damaging the dollar was Trump's escalating feud with Federal Reserve Chair Jerome Powell. After criticizing Powell throughout spring, Trump openly signaled he wouldn't reappoint him when his term expires in May 2026.



The Fed held interest rates steady for a fourth consecutive meeting in June, citing inflation risks tied to tariffs. Powell said the current rate level was "appropriate" given the economic conditions, pushing back against political pressure.



In response, Trump lashed out at Powell, accusing him of political bias. Later in June, he floated possible replacements, reinforcing market expectations of a looser monetary policy.



Markets now anticipate two rate cuts before the end of 2025 and four more in 2026 — a dovish shift that has further weakened the dollar.



<h3 class="wp-block-heading">Where Is the Dollar Now?</h3>



On June 27, the U.S. Dollar Index – as tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) – slipped to 97, its lowest level since February 2022, before Russia's invasion of Ukraine. The index is heading for its seventh straight session of declines.



What began as a bullish outlook under Trump has quickly unraveled, turning the first half of 2025 into the dollar's worst chapter in nearly 40 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/2025/06/27104508/image-428-1024x528.png" alt="" class="wp-image-965057" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/27104508/image-428-1024x528.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/27104508/image-428-300x155.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/27104508/image-428-768x396.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/27104508/image-428-1536x792.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/27104508/image-428-2048x1056.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/economic-data/25/06/46137796/inflation-is-heating-up-again-are-tariffs-to-blame">Inflation Is Heating Up Again—Are Tariffs To Blame?</a><span class="author" style="box-sizing: border-box; border: 0px solid rgb(229, 231, 235); --tw-scale-x: 1; --tw-scale-y: 1; --tw-pan-x: ; --tw-pan-y: ; --tw-pinch-zoom: ; --tw-scroll-snap-strictness: proximity; --tw-gradient-from-position: ; --tw-gradient-via-position: ; --tw-gradient-to-position: ; --tw-ordinal: ; --tw-slashed-zero: ; --tw-numeric-figure: ; --tw-numeric-spacing: ; --tw-numeric-fraction: ; --tw-ring-inset: ; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246/0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; --tw-blur: ; --tw-brightness: ; --tw-contrast: ; --tw-grayscale: ; --tw-hue-rotate: ; --tw-invert: ; --tw-saturate: ; --tw-sepia: ; --tw-drop-shadow: ; --tw-backdrop-blur: ; --tw-backdrop-brightness: ; --tw-backdrop-contrast: ; --tw-backdrop-grayscale: ; --tw-backdrop-hue-rotate: ; --tw-backdrop-invert: ; --tw-backdrop-opacity: ; --tw-backdrop-saturate: ; --tw-backdrop-sepia: ; --tw-contain-size: ; --tw-contain-layout: ; --tw-contain-paint: ; --tw-contain-style: ;"></li>
</ul>



Photo created using images from Shutterstock and Midjourney.

Currency ETFs

Forex

Econ #s

Trump Presidency Ushers In Dollar's Worst Six-Month Slide In 34 Years

Risk appetite surged at the end of the trading week, with the S&amp;P 500 breaking above 6,190 and the Nasdaq 100 extending all-time highs, as investors responded to easing trade tensions and geopolitical <a href="https://www.benzinga.com/markets">risks with robust buying.</a>



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.



<h1 class="wp-block-heading">Dow Eyes 44,000 As Blue Chips Shine</h1>



The Dow Jones Industrial Average climbed steadily near the 44,000 mark, outperforming other major indexes on the back of major gains among blue-chip names.



Nike Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) jumped 18%, marking its best trading day ever, 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 4% following a bullish analyst note from RedBurn Atlantic.



NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) extended its leadership role in the AI sector and beyond, pushing past a $3.8 trillion market capitalization and reinforcing its position as the world's most valuable company.



GE Aerospace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>) gained 3.5%, reaching its highest level in 17 years. 



Nearly every S&amp;P sector closed in the green except for energy, which lagged sharply as oil prices headed for their worst weekly drop since March 2023. The easing of military tensions in the Middle East helped pull crude lower, capping a volatile stretch for commodities.



Gold also saw selling pressure, dropping 1.6% to $3,270 per ounce, as traders rotated into risk assets and shrugged off traditional safe havens.



The U.S. dollar extended its losing streak to a seventh straight session, dragging the U.S. Dollar Index to its lowest level since February 2022 — just before the Russian invasion of Ukraine. The dollar is now on track for its worst first half of a year since 1991, weighed down by dovish Fed expectations and U.S. fiscal uncertainties.



<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>Dow Jones</td><td>43,979.04</td><td>1.4%</td></tr><tr><td>S&amp;P 500</td><td>6,190.09</td><td>0.8%</td></tr><tr><td>Russell 2000</td><td>2,188.84</td><td>0.8%</td></tr><tr><td>Nasdaq 100</td><td>22,582.46</td><td>0.6%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 12:45 p.m. ET</figcaption></figure>



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



<ul class="wp-block-list">
<li>The&nbsp;Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) rose 0.7% to $567.88.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 1.2% to $439.25.</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;inched 0.5% higher to $548.91.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.7% to $216.94.</li>



<li>The&nbsp;Consumer Discretionary&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) outperformed, up 1.4%; the&nbsp;Energy&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down 0.8%.</li>
</ul>



Read Now:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/economic-data/25/06/46146713/trump-dollar-outlook-tariffs-debt">Trump Presidency Ushers In Dollar&#8217;s Worst Six-Month Slide In 34 Years </a></li>
</ul>



Photo: Shutterstock

Movers

$BTC

Wall Street Hits Record Highs, Nike Jumps 18%: What's Moving Markets Friday?

Inflation picked up again in May, snapping a two-month slowdown, raising fresh concerns that rising tariffs on foreign goods may start <a href="https://www.benzinga.com/news/econ-s">to strain U.S. consumers.</a>



The Personal Consumption Expenditures (PCE) price index rose 2.3% in May from a year earlier, matching economists&#8217; expectations and marking a slight uptick from April's upwardly revised 2.2%. 



On a monthly basis, the PCE increased 0.1%, in line with consensus and unchanged from April.



Yet, the core PCE index, which strips out volatile food and energy prices and is closely monitored by Fed policymakers as the most reliable inflation metric, accelerated to 2.7% year-over-year from the upwardly revised 2.6% in April, exceeding the economic estimate of 2.6%.



Month-over-month, core PCE climbed 0.2%, doubling April's 0.1% pace and exceeding forecasts. 



The uptick in inflation, particularly in the Fed&#8217;s favorite gauge, comes amid concern over the Trump administration's new tariff regime, which targets a wide range of imported goods. 



<h3 class="wp-block-heading">Households Cut Back Spending As Incomes Drop</h3>



Despite rising inflation pressures, American consumers reduced their spending in May, while personal income experienced a sharp decline.



The Bureau of Economic Analysis reported that personal income fell by 0.4% month-over-month, missing expectations of a 0.3% rise. In April, income had surged 0.7%.



Notably, this marked the first contraction in personal income since September 2021. 



Meanwhile, personal spending also contracted by 0.1%, a $29.3 billion decrease, against expectations for a modest 0.1% increase. The pullback in consumption follows a revised 0.2% gain in April.



The biggest hit came in goods, especially vehicles. 



Spending on motor vehicles and parts tumbled $49.3 billion, followed by gasoline and other energy goods, which declined $19.8 billion. Spending on food services and accommodations slipped by $10.6 billion.



<h3 class="wp-block-heading">Market Reactions</h3>



Despite the rise in inflation, the U.S. dollar weakened following the data release, pressured by sharper-than-expected declines in income and consumer spending.



Futures on major U.S. equity indexes climbed between 0.3% and 0.4% in Friday's premarket, with both the S&amp;P 500 and Nasdaq 100 poised to extend their record-setting rallies.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/economic-data/25/06/46124290/sp-500-hits-record-highs-and-history-says-the-best-is-yet-to-come">S&amp;P 500 Trades At Record Highs—And History Says The Best Is Yet To Come (UPDATED) </a></li>
</ul>



Photo: Shutterstock

Inflation Is Heating Up Again—Are Tariffs To Blame?

In a potential game-changer for the cryptocurrency mining sector, Morgan Stanley has forecasted that CoreWeave Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWV#NASDAQ">CRWV</a>) proposed acquisition of Core Scientific Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CORZ#NASDAQ">CORZ</a>) could boost the Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) miner&#8217;s market capitalization by an impressive $2.8 billion.



What Happened: This Morgan Stanley analysis was shared by Eric Jackson from EMJ Capital amid renewed takeover discussions between the two companies, as reported by the Wall Street Journal, with a deal possibly finalizing within weeks if negotiations proceed smoothly.



&#8220;While the potential terms of a deal were not released, the estimated profits from the current contracts exceed Core Scientific's market cap by ~$2.8B,&#8221; said Jackson in his X post, quoting Morgan Stanley.



<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">Morgan Stanley on the potential <a href="https://twitter.com/search?q=%24CRWV&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$CRWV</a> &#8211; <a href="https://twitter.com/search?q=%24CORZ&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$CORZ</a> deal: While the potential terms of a deal were not released, the estimated profits from the current contracts exceed Core Scientific's market cap by ~$2.8B (with CORZ market cap at ~$4.95B today).&mdash; Eric Jackson (@ericjackson) <a href="https://twitter.com/ericjackson/status/1938421603253235836?ref_src=twsrc%5Etfw">June 27, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Core Scientific, currently valued at approximately $4.87 billion, rejected $5.75 per share offer from CoreWeave a year ago. The company operates one of North America's largest digital infrastructure platforms focused on bitcoin mining and hosting.



The company's strategic 12-year hosting partnership with CoreWeave, which provides 590 MW of capacity across 12 contracts valued at $10 billion, underpins this growth.



&#8220;Core Scientific receives a 75%-80% profit margin on the CoreWeave contract, which implies that Core Scientific receives a profit of ~$7.75bn at the midpoint,&#8221; Jackson highlighted in another post.



See Also: <a href="https://www.benzinga.com/markets/equities/25/06/46108861/microsoft-is-playing-chess-and-others-are-playing-checkers-dan-ives-says-msft-could-be-a-5-trillion-company-in-18-months">Microsoft Is &#8216;Playing Chess, And Others Are Playing Checkers:&#8217; Dan Ives Says MSFT Could Be A $5 Trillion Company In 18 Months</a>



Why It Matters: CoreWeave, a $75.87 billion cloud infrastructure giant serving AI workloads for clients like Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), is funding up to $750 million in data center build-outs, with Core Scientific contributing just $104 million.



&#8220;Core Scientific receives a 75%-80% profit margin on the CoreWeave contract, which implies that Core Scientific receives a profit of ~$7.75bn at the midpoint,&#8221; explained Jackson.



Price Action: CRWV shares were up 1.97% in premarket on Friday and ended 0.89% lower on Thursday. It has risen by 295.20% since its listing in March.



Benzinga Edge Stock Rankings shows that CRWV had a stronger price trend over the short, medium, and long term. Its value ranking was poor at the 9.72nd percentile. The details are <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here</a>.



<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="156" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/27083111/CRWV-EDGE-new-1024x156.png" alt="" class="wp-image-964838" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/27083111/CRWV-EDGE-new-1024x156.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/27083111/CRWV-EDGE-new-300x46.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/27083111/CRWV-EDGE-new-768x117.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/27083111/CRWV-EDGE-new.png 1110w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



CORZ shares were up 7.89% in premarket on Friday and ended 33.01% higher on Thursday. It has risen by 12.98% on a year-to-date.



Benzinga Edge Stock Rankings shows that CORZ had a stronger price trend over the short, medium, and long term. Its momentum ranking was solid; however, its value ranking was poor at the 16.3rd percentile. The details of other metrics are <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here</a>.



<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="162" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/27082907/CORZ-EDGE-1024x162.png" alt="" class="wp-image-964835" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/27082907/CORZ-EDGE-1024x162.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/27082907/CORZ-EDGE-300x47.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/27082907/CORZ-EDGE-768x121.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/27082907/CORZ-EDGE.png 1033w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></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 Thursday. The SPY was up 0.39% at $614.24, while the QQQ advanced 0.46% to $548.73, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/macro-economic-events/25/06/46112471/ross-gerber-touts-an-idea-to-cut-deficit-by-trillions-of-dollars-let-the-tax-cuts-e">Ross Gerber Touts An Idea To Cut Deficit By Trillions Of Dollars: &#8216;Let The Tax Cuts Expire And Full SALT Come Back&#8217; </a></li>
</ul>



Image Credit: Shutterstock

News

CORZ

CRWV

CRWV–CORZ Potential Deal Could Unlock $2.8 Billion Hidden Value For Bitcoin Miner, Says Morgan Stanley

<h2 class="wp-block-heading">New On The Block</h2>



Bahama Breeze may soon be <a href="https://www.benzinga.com/general/restaurants">gone with the wind</a>. 



Darden Restaurants (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>) is considering selling the Caribbean-inspired chain or repurposing all its locations.



The decision comes after Darden closed 15 Bahama Breeze restaurants in May, leaving just 28. Guru Focus <a href="https://www.gurufocus.com/news/2938406/darden-to-explore-strategic-alternatives-for-bahama-breeze-chain?r=caf6fe0e0db70d936033da5461e60141">reported</a> that CEO Rick Cardenas told analysts that future investments in the brand are off the table.



Initially launched in the 1990s, Bahama Breeze served up tropical vibes with dining options like coconut shrimp and empanadas. However, after a strategic review, Darden decided it was time to focus on other properties, such as the never-ending-pasta-bowl innovator Olive Garden.



<h2 class="wp-block-heading">Updates From The Block</h2>



Businessman Mark Walter has agreed to acquire a majority stake in the NBA's Los Angeles Lakers from the Buss Family Trust. Jeanie Buss will continue to oversee team operations. Walter, already a minority owner, also leads TWG Global, which holds stakes in several sports properties.



The Buss family has owned the Lakers since 1979, overseeing 11 NBA championships and shaping one of the most recognized franchises in global sports. The team has featured iconic players such as Magic Johnson, Kareem Abdul-Jabbar, Kobe Bryant, Shaquille O'Neal and LeBron James.



The deal is expected to close in late 2025, pending NBA approval and other standard conditions.



Guggenheim Securities is advising Walter, with legal support from Davis Polk &amp; Wardwell LLP. ArentFox Schiff LLP represents the Lakers and the Buss Family Trust.



More Updates:



<ul class="wp-block-list">
<li>Recall in 2021 how Best Buy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBY#NYSE">BBY</a>) acquired remote care management platform Current Health. It&#8217;s now selling it <a href="https://www.linkedin.com/feed/update/urn:li:activity:7343300338491305984/">back</a> to co-founder Christopher McGhee for $400 million.</li>



<li>Maserati isn&#8217;t for sale. That&#8217;s according to Stellantis (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>), the owner, which <a href="https://www.reuters.com/business/autos-transportation/jeep-maker-stellantis-weighs-sale-among-options-maserati-sources-say-2025-06-20/?utm_source=newsletter&amp;utm_medium=email&amp;utm_campaign=newsletter_axioscloser&amp;stream=top">responded</a> to a Reuters report.</li>



<li>U.S. antitrust regulators approved Mars&#8216; proposed $35.9 billion purchase of snackmaker Kellanova (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/K#NYSE">K</a>). In Europe, however, antitrust <a href="https://www.benzinga.com/m-a/25/06/46113916/mars-just-got-the-green-light-for-its-36b-deal-but-europe-might-blow-it-up">regulators are investigating the deal</a>.</li>



<li>New Zealand-based accounting software firm Xero will acquire U.S. bill-pay platform Melio for an initial $2.5 billion, according <a href="https://www.wsj.com/business/deals/xero-to-buy-melio-for-initial-2-5-billion-in-u-s-growth-play-eb0d46af?mod=deals_news_article_pos2">to</a> the Wall Street Journal. Melio shareholders, including Accel and Thrive Capital, will receive $360 million in Xero shares. Xero, which reported approximately $1.26 billion in revenue for its last fiscal year, stated that revenue could double over the next three years, excluding anticipated synergies. Melio CEO Matan Bar will lead Xero's U.S. business post-acquisition.</li>



<li>Bank of New York Mellon placed an offer for Chicago-based Northern Trust, which has a market value of more than $21 billion. The Trump administration has <a href="https://www.reuters.com/markets/deals/big-bank-deals-stalled-by-trump-volatility-even-officials-signal-deregulation-2025-03-14/">signaled</a> a greater willingness to approve large banking deals, but few have been completed.</li>



<li>Woody Johnson is the latest rich American to buy a different football club. The billionaire agreed to pay just $215 million for a &#8220;significant&#8221; stake in Premier League club Crystal Palace, Bloomberg <a href="https://www.bloomberg.com/news/articles/2025-06-23/ny-jets-owner-woody-johnson-agrees-deal-for-crystal-palace-stake?sref=TBDibEcD">reports</a>. On the sell side is John Textor. Let&#8217;s hope Crystal Palace has better luck than the New York Jets, which has been under the miserable ownership of Johnson since January 2000.</li>



<li>Unilever signed an agreement to acquire personal care brand Dr. Squatch from growth equity firm Summit Partners. The price tag was not disclosed, but Women&#8217;s Wear Daily <a href="https://wwd.com/beauty-industry-news/skin-care/unilever-personal-care-acquisition-dr-squatch-1237941602/">reported</a> that the company&#8217;s sales exceeded $400 million.</li>
</ul>



<h2 class="wp-block-heading">Off The Block</h2>



<ul class="wp-block-list">
<li>The NBA&#8217;s board of governors approved the $1.5 billion sale of the Minnesota Timberwolves and WNBA's Minnesota Lynx from longtime owner Glen Taylor to an investment group led by entrepreneur Marc Lore and former MLB star Alex Rodriguez. The unanimous vote concludes a four-year back-and-forth process that included arbitration after Taylor attempted to cancel the deal earlier this year. Taylor, who bought the Timberwolves in 1994 to prevent a relocation to New Orleans, leaves after 31 years with the team. Lore and Rodriguez pledged to keep the teams in Minnesota.</li>
</ul>



<ul class="wp-block-list">
<li>Parkland (TSX:<a class="ticker" href="https://www.benzinga.com/stock/PKI#TSX">PKI</a>), a Canadian fuel distributor, confirmed that shareholders voted in favor of a $9.1 billion takeover by Sunoco (YSE: SUN). The deal will form America&#8217;s largest independent fuel distributor.</li>
</ul>



<h2 class="wp-block-heading">Bankruptcy Block</h2>



<ul class="wp-block-list">
<li>You can still place bids on assets owned by Monster and CareerBuilder. The two online job search websites, which merged last year, <a href="https://www.wsj.com/articles/careerbuilder-monster-to-sell-businesses-in-bankruptcy-9daa38dd">filed</a> for Chapter 11 bankruptcy. So far, JobGet is looking to buy at least one asset. Canada-based Valsoft Corporation and Canadian media firm Valnet are keen on acquiring others, including Military.com, which Monster bought in 2004 for $39.5 million. Tough competition is to blame for the restructuring, says CEO Jeff Furman, citing Indeed, LinkedIn, and Glassdoor. Private equity firm Apollo Global Management holds a minority stake in the company.</li>
</ul>



<a href="https://www.benzinga.com/m-a/25/06/46038749/deal-dispatch-boston-red-sox-owner-sets-sights-on-la-liga-club-at-home-files-for-bankruptcy">For last week&#8217;s edition of Deal Dispatch, click here</a>. 



Now Read:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/06/46125266/thank-you-elon-musks-longtime-aide-reportedly-fired-days-after-public-praise">&#8216;Thank You, Elon:&#8217; Musk&#8217;s Longtime Aide Reportedly Fired Days After Public Praise</a></li>
</ul>



Image: Edited by Benzinga using Shutterstock

Asset Sales

Sports

STLA

TSX:PKI

Deal Dispatch: Darden Cools On Bahama Breeze, NBA M&A Heats Up

The European Commission president, Ursula von der Leyen, has announced that the EU is open to a trade deal with the US. However, she emphasized that all options remain on the table.



What Happened: Von der Leyen stated that the EU is prepared for a trade agreement with the US, but is also considering other possibilities. She made this announcement after briefing EU leaders at a summit in Brussels, <a href="https://www.theguardian.com/world/2025/jun/26/eu-leaders-to-direct-european-commission-on-response-to-us-tariffs">reported</a> The Guardian on Thursday. 



&#8220;Our message today is clear, we are ready for a deal,&#8221; stated the EU Chief. &#8220;&#8230;we will defend the European interest as needed. In short, all options remain on the table,&#8221; she added. 



Von der Leyen also proposed initiating a "redesign" of the World Trade Organization, citing concerns that trade wars and bilateral agreements are weakening the global trading system.



The European Commission, which represents the EU&#8217;s 27 member states in trade matters, is seeking guidance&nbsp;on how to approach the&nbsp;crucial negotiations with the US. President&nbsp;Donald Trump&nbsp;has threatened to impose a 50% tariff&nbsp;on all EU goods from&nbsp;July 9 if an agreement is not reached.



Despite the looming deadline, there are differences of opinion within the EU on how to best approach the U.S. talks. German Chancellor Friedrich Merz believes a swift and simple trade deal is preferable to a slow and complex one. However, French President Emmanuel Macron contends that agreeing to an imbalanced trade relationship would undermine Europe's long-term competitiveness.



SEE ALSO: <a href="https://benzinga.com/crypto/25/06/46131453/bitcoin-ethereum-rangebound-dogecoin-dips-amid-potential-july-tariff-deadline-extension-analyst-predicts-btcs-next-big-move-once-it-breaks-out-of-this-range" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum Rangebound, Dogecoin Dips Amid Potential July Tariff Deadline Extension: Analyst Predicts BTC&#8217;s &#8216;Next Big Move&#8217; Once It Breaks Out Of This Range</a>



Why It Matters: The EU&#8217;s readiness to negotiate comes in the wake of Trump&#8217;s decision <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">to extend</a> the impending 50% tariff deadline from June 1 to July 9, 2025. Trump stated that von der Leyen assured him that negotiations would commence swiftly, and he expressed his willingness to grant the extension.



U.S. President Donald Trump has warned that starting July 9, all EU goods could face a 50% tariff unless a trade agreement is reached. Currently, most EU products are subject to a 10% tariff, while cars and car parts face 25%, and steel and aluminum are taxed at 50%.



Earlier in June, at the G7 summit, von der Leyen criticized China for its <a href="https://www.benzinga.com/markets/macro-economic-events/25/06/45990356/on-this-point-donald-is-right-says-eu-chief-as-she-slams-chinas-trade-practices-at-g7-urges-trump-to-join-forces">export restrictions</a> on vital raw materials used in the production of cars, batteries, and wind turbines. She accused China of &#8220;weaponizing&#8221; its dominant position in the production and refining of critical raw materials and flouting global trade regulations to undercut rivals.



These developments underscore the EU&#8217;s commitment to fair trade practices and its readiness to defend its economic interests. As the deadline for Trump&#8217;s tariffs nears, EU member states are debating their approach to the U.S. talks.



<ul class="wp-block-list">
<li>READ MORE: <a href="https://www.benzinga.com/markets/macro-economic-events/25/06/46088808/tom-lee-on-why-feds-holding-back-while-europe-eases-aggressively-thats-the-upside-opportunity-into-year-end">Tom Lee On Why Fed&#8217;s Holding Back While Europe Eases Aggressively: &#8216;That&#8217;s The Upside Opportunity Into Year End&#8217;</a> </li>
</ul>



Image via Shutterstock



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

EU 'Ready For A Deal' With US But 'All Options Remain On The Table', Says Von Der Leyen

U.S. futures rose on Friday following Thursday&#8217;s rally. Futures of major benchmark indices were trading higher.



The U.S. and China have finalized a trade understanding, building on an agreement reached last month in Geneva.



U.S. Commerce Secretary Howard Lutnick <a href="https://www.benzinga.com/news/politics/25/06/46133537/howard-lutnick-confirms-us-china-trade-agreement-reaffirms-white-houses-progress-to-close-deals-wit">confirmed the deal with China</a>, which was signed two days ago, noting that the White House has immediate plans to secure agreements with ten other major trading partners. 



The accord with China codifies terms established during recent trade discussions between <a href="https://www.benzinga.com/news/macro-notification/25/06/45876366/howard-lutnick-says-us-and-china-reached-a-framework-to-implement-geneva-consensus-following-trump-xi-call-csi-300-index-gains">Beijing and Washington</a>. 



The 10-year Treasury bond yielded 4.27% and the two-year bond was at 3.75%. 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 79.3% likelihood of the Federal Reserve keeping the current interest rates unchanged in its July meeting. 



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Dow Jones</td><td>0.23%</td></tr><tr><td>S&amp;P 500</td><td>0.22%</td></tr><tr><td>Nasdaq 100</td><td>0.29%</td></tr><tr><td>Russell 2000</td><td>0.25%</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 Friday. The SPY was up 0.27% at $613.54, while the QQQ advanced 0.33% to $548.03, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro </a>data.



Cues From Last Session:



Most sectors on the S&amp;P 500 closed positively on Thursday, led by significant gains in communication services, consumer discretionary, and energy stocks.



This broad upward movement contributed to U.S. stocks settling higher. However, real estate and consumer staples stocks diverged from the overall market trend, ending the day lower.



Individual company performances also bolstered the market. Walgreens Boots Alliance Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>) reported better-than-expected earnings for the third quarter, while Worthington Steel, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WS#NYSE">WS</a>) shares surged by over 20% after the company announced stronger-than-expected financial results for its fourth quarter.



On the economic front, the first-quarter GDP saw a downward revision to -0.5% from the previously reported -0.2%. This revision was primarily attributed to a widening goods trade deficit, influenced by weaker exports.



Despite this adjustment, other economic indicators released on Thursday painted a more optimistic picture.



Factory orders in May demonstrated a robust increase, soaring by 16.4% month-over-month to $343.6 billion, marking the largest surge since July 2014. This impressive figure far exceeded market expectations of an 8.5% gain, following a revised 6.6% drop in April.



Furthermore, weekly jobless claims fell by 10,000 to 236,000 in the week ending June 21, surpassing economists&#8217; forecasts of no change and signaling continued resilience in the labor market.



<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>0.97%</td><td>20,167.91</td></tr><tr><td>S&amp;P 500</td><td>0.80%</td><td>6,141.02</td></tr><tr><td>Dow Jones</td><td>0.94%</td><td>43,386.84</td></tr><tr><td>Russell 2000</td><td>1.68%</td><td>2,172.11</td></tr></tbody></table></figure>



Insights From Analysts:



With July beginning next week, Ryan Detrick of Carson Research highlighted historical data, citing that the seventh month of the year has seen consistent gains for 10 years in a row.



&#8220;The S&amp;P 500 has gained in July for an incredible 10 years in a row. One more and it ties the longest win streak ever,&#8221; he posted on X.



The graph shared by him showed that one more month of positive gains in the month of July will make this streak of 11 years equal to another 11-year-long streak from the 1950s.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">As I discussed with <a href="https://twitter.com/FrankCNBC?ref_src=twsrc%5Etfw">@FrankCNBC</a> this morning, the S&amp;P 500 has gained in July for an incredible 10 years in a row. One more and it ties the longest win streak ever. <a href="https://t.co/6BrkJNCcUC">pic.twitter.com/6BrkJNCcUC</a>&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1938258076794061101?ref_src=twsrc%5Etfw">June 26, 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 his firm has been observing and agreeing with the notion that the stock market rally since April 9 suggests that investors believe that the tariff issue will be mostly behind us by the end of the summer.



On April 9, President Donald Trump postponed his April 2 Liberation Day reciprocal tariffs for 90 days.



Trump&#8217;s Tariff Turmoil has had &#8220;remarkably little impact on the forward profit margin of the S&amp;P 500 so far. It has been essentially flat since the start of this year but at roughly a record high of 13.7%,&#8221; he said.



Meanwhile, Louis Navellier said that &#8220;The AI theme is alive and well, best demonstrated by the renewed confidence in Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), which is taking semiconductors and software along for the ride.&#8221;



&#8220;While longer term, the AI story is to eliminate a lot of white-collar jobs, we have yet to see that put a dent in unemployment numbers. The offset is that the jobs will be going away because AI is cheaper, which should drive corporate profit margins higher.&#8221;



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



Upcoming Economic Data



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



<ul class="wp-block-list">
<li>May&#8217;s personal income, spending, and headline and core PCE Index data will be released by 8:30 a.m. ET.</li>



<li>Final consumer sentiment data will be released by 10:00 a.m. ET.</li>
</ul>



Stocks In Focus:



<ul class="wp-block-list">
<li>Apogee Enterprises Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APOG#NASDAQ">APOG</a>) was up 1.90% in premarket on Friday as analysts expect it to report quarterly earnings of 47 cents per share on revenue of $325.48 million, before the opening bell.</li>



<li>Cineverse Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNVS#NASDAQ">CNVS</a>) rose 1.67% as analysts expect it to report a loss of 7 cents per share on revenue of $14.29 million, after the closing bell.</li>



<li>Nike Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) jumped 9.67% after reporting better-than-expected fourth-quarter financial results for fiscal 2025. The company reported fourth-quarter revenue of $11.1 billion, beating analyst estimates of $10.72 billion.</li>



<li>American Outdoor Brands Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AOUT#NASDAQ">AOUT</a>) gained 11.20% after posting upbeat fourth-quarter results. American Outdoor Brands reported quarterly adjusted earnings of 13 cents per share, which beat the analyst consensus estimate for losses of 11 cents per share.</li>



<li>Concentrix Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNXC#NASDAQ">CNXC</a>) tumbled 8.40% after reporting mixed second-quarter results after Thursday's closing bell. Concentrix reported quarterly earnings of $2.70 per share, which missed the analyst consensus estimate of $2.75.</li>



<li>Pony AI Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PONY#NASDAQ">PONY</a>) rose 4.87% after reports that Uber Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NASDAQ">UBER</a>) is in talks to help fund a takeover deal with the company.</li>
</ul>



Commodities, Gold, And Global Equity Markets:



Crude oil futures were trading higher in the early New York session by 0.81% to hover around $65.77 per barrel.



Gold Spot US Dollar fell 1.25% to hover around $3,286.11 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was lower by 0.54% at the 97.1550 level.



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



Read Next:



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<li><a href="https://www.benzinga.com/markets/equities/25/06/46108861/microsoft-is-playing-chess-and-others-are-playing-checkers-dan-ives-says-msft-could-be-a-5-trillion-company-in-18-months">Microsoft Is &#8216;Playing Chess, And Others Are Playing Checkers:&#8217; Dan Ives Says MSFT Could Be A $5 Trillion Company In 18 Months</a></li>
</ul>



Photo courtesy: Shutterstock

AOUT

APOG

CNVS

CNXC

PONY

UBER

US Stocks Likely To Open Higher As Commerce Secretary Confirms Deal With China: Nike, Worthington Steel Surge Amid Upbeat Earnings

On Friday, SoftBank Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBF#OTC">SFTBF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>) CEO Masayoshi Son said that he plans to position the company as the <a href="https://www.benzinga.com/media/25/03/44327422/softbank-to-build-676-million-ai-data-center-in-japan-linked-to-openai-partnership">leading platform provider</a> in the artificial super intelligence (ASI) sector within the next decade, aiming to rival major tech firms like Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and 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.



What Happened: Speaking at SoftBank&#8217;s annual shareholder meeting, Son spoke about his ambition to establish SoftBank as a dominant player in the ASI space, reported Reuters.&nbsp;



&#8220;We want to become the organizer of the industry in the artificial super intelligence era,&#8221; Son said.



He likened the opportunity in ASI to the positions held by Microsoft, Amazon and Google, where a &#8220;winner takes all&#8221; dynamic prevails.



See Also:&nbsp;<a href="https://www.benzinga.com/markets/tech/25/06/46132007/amazon-google-not-far-behind-but-dan-ives-says-microsoft-clearly-leading-in-these-segments-600-price-target-is-probably-conservative" target="_blank" rel="noreferrer noopener">Amazon, Google Not Far Behind, But Dan Ives Says Microsoft ‘Clearly Leading' In These Segments — $600 Price Target Is ‘Probably' Conservative</a>



In line with this vision, the Japanese investment holding firm has made aggressive investments, including acquiring U.S. semiconductor designer Ampere for $6.5 billion and <a href="https://www.benzinga.com/media/25/04/44589685/softbank-weighs-165-billion-loan-that-could-back-openais-40-billion-raise-report">underwriting up to $40 billion</a> in new investments for ChatGPT-parent OpenAI, the report added.



SoftBank's total investment in OpenAI has reached $32 billion since 2024. &#8220;I&#8217;m all in on OpenAI,&#8221; Son said while acknowledging that he regretted not investing in the AI company earlier.



Why It&#8217;s Important: SoftBank has returned to investing, having already scored big with early bets like Alibaba Group Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) but also failures like WeWork, the report added.



The company sold its 5% stake in Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) in 2019, missing out on the AI boom that later made the Jensen Huang-led company a global <a href="https://www.benzinga.com/trading-ideas/movers/25/06/46117402/jensen-huang-closes-in-on-top-10-richest-list-with-nvidia-stock-at-new-highs-heres-how-much-he-needs">leader in AI chips</a>.



SoftBank announced its <a href="https://www.benzinga.com/news/earnings/25/05/45389466/softbank-books-3-6-billion-profit-on-arm-bytedance-gains-while-ai-bets-face-trade-policy-hurdles">fourth-quarter earnings</a> last month. The company posted net sales of 1.94 trillion yen ($12.69 billion) for the quarter, an increase from 1.75 trillion yen in the same period last year. Sales from the SoftBank segment rose 10.2%, reaching 1.73 trillion yen ($11.33 billion).



Read Next:&nbsp;



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<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.



Photo courtesy: glen photo / Shutterstock.com

Media

AMZN

BABA

GOOG

GOOGL

SFTBF

SFTBY

SoftBank's Masayoshi Son Sets Sights On Artificial Super Intelligence Domination With Bets On OpenAI And Ampere: 'I'm All In'

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 Thursday.



U.S. stocks settled higher on Thursday, with the Dow Jones index gaining more than 400 points during the session.



Walgreens Boots Alliance Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>) on Thursday reported better-than-expected earnings for the third quarter. Worthington Steel, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WS#NYSE">WS</a>) shares jumped more than 20% on Thursday as the company reported stronger-than-expected financial results for the fourth quarter.



On the economic front, the first-quarter GDP was revised downward to -0.5% from the previous -0.2% figure, primarily due to a widening goods trade deficit linked to weaker exports. Yet, other data released Thursday painted a more positive picture.



Factory orders in May soared by 16.4% month-over-month to $343.6 billion, marking the biggest increase since July 2014. That followed a revised 6.6% drop in April and smashed market expectations of an 8.5% gain. Weekly jobless claims fell by 10,000 to 236,000 in the week ending June 21, while economists had forecast no change — another sign of labor market resilience.



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



The Dow Jones closed higher by around 404 points to 43,386.84 on Thursday. The S&amp;P 500 rose 0.80% to 6,141.02, while the Nasdaq Composite climbed 0.97% to 20,167.91 during Thursday's session.



Investors are awaiting earnings results from Apogee Enterprises, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APOG#NASDAQ">APOG</a>) and Cineverse Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNVS#NASDAQ">CNVS</a>) today.



What is CNN Business Fear &amp; Greed Index?



At a current reading of 63, the index remained in the &#8220;Greed&#8221; zone on Thursday, versus a prior reading of 58.2.



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:<a href="https://www.benzinga.com/trading-ideas/short-ideas/25/06/46115042/top-2-tech-and-telecom-stocks-you-may-want-to-dump-in-june"> </a>



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/short-ideas/25/06/46115042/top-2-tech-and-telecom-stocks-you-may-want-to-dump-in-june">Top 2 Tech And Telecom Stocks You May Want To Dump In June</a> </li>
</ul>



Photo courtesy: Shutterstock

Pre-Market Outlook

Dow Jumps Over 400 Points Amid Upbeat Earnings: Investor Sentiment Improves, Fear Index Remains In 'Greed' Zone

Leading cryptocurrencies moved sideways Thursday while stocks rallied after the White House signaled that the July tariff deal deadline could be extended.



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 9:30 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>-0.24%</td><td>$106,998.37</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>-0.16%</td><td>$2,421.21</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>-3.06%</td><td>$0.1606</td></tr></tbody></table></figure>



What Happened: Bitcoin oscillated between the high $106,000s and the low $108,000s as trading volume plunged 14% over the last 24 hours.



Ethereum spiked above $2,500 but reversed trajectory soon, sliding below $2,400 overnight.



Despite a slow June, the two market heavyweights have enjoyed a profitable second quarter as of this writing, with Bitcoin up 29.36% and Ethereum up 32.62%.



More than $232 million was liquidated from the cryptocurrency market in the last 24 hours, with about $145 million in bullish longs erased



Bitcoin&#8217;s open interest slid 1.33% in the last 24 hours, even as the majority of Binance traders with open BTC positions remained short.



The "Greed" sentiment prevailed, according to the Crypto Fear &amp; Greed Index.



Top Gainers (24 Hours)



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 9:30 p.m. ET)</th></tr></thead><tbody><tr><td>DeXe (DEXE)</td><td>+8.11%</td><td>$8.91</td></tr><tr><td>Bitget Token (BGB)&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+4.45%</td><td>$4.64</td></tr><tr><td>Aptos (APT)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+2.78%</td><td>$4.95 </td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.27 trillion, following a modest decline of 0.67% in the last 24 hours.



Stocks closed higher on Thursday. The Dow Jones Industrial Average climbed 404.41 points, or 0.94%, to end at 43,386.84. The S&amp;P 500 ascended 0.8% to close the session at 6,141.02, within touching distance of its all-time closing high. The tech-focused Nasdaq Composite added 0.97% to end at 20,167.91.



White House spokesperson Karoline Leavitt <a href="https://www.youtube.com/live/NKl2dpLylK0?feature=shared">told </a>reporters that 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 tariff deal deadline</a> is "not critical" and that it could be extended, but that&#8217;s a decision for President Donald Trump to make.



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



Analyst Notes: Widely followed cryptocurrency analyst and trader Ali Martinez noticed Bitcoin's range-bound movement and projected the "next major move" after a close outside the $106,900–$108,200 zone.



<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 ranging, and the next major move will come with a close outside the $106,900–$108,200 zone. <a href="https://t.co/O96zrFOOX6">pic.twitter.com/O96zrFOOX6</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1938282631545700723?ref_src=twsrc%5Etfw">June 26, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



According to blockchain analytics firm Santiment, the number of wallets holding at least 10 BTC jumped to its highest level since mid-March, signaling high institutional interest.



"As markets have been volatile, smart money has accumulated on most retail panic sell cycles," Santiment 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">&#x1f433; The amount of whale &amp; shark wallets holding at least 10 Bitcoin (currently a bit over $1.07M) is back to its highest amount since March 12th. As markets have been volatile, smart money has accumulated on most retail panic sell cycles. &#x1f517; Track it here: <a href="https://t.co/C2NSCk8Hwc">https://t.co/C2NSCk8Hwc</a> <a href="https://t.co/SaC5yBNjot">pic.twitter.com/SaC5yBNjot</a>&mdash; Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1938348472874172717?ref_src=twsrc%5Etfw">June 26, 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/25/06/46117165/bitcoin-consolidating-at-107000-heres-what-will-drive-the-market-in-q3">Bitcoin Consolidating At $107,000: Here&#8217;s What Will Drive The Market In Q3</a></li>
</ul>

Cryptocurrency

Markets

$DOGE

$ETH

Bitcoin, Ethereum Rangebound, Dogecoin Dips Amid Potential July Tariff Deadline Extension: Analyst Predicts BTC's 'Next Big Move' Once It Breaks Out Of This Range

Among the standout developments in Nike Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) <a href="https://www.benzinga.com/markets/earnings/25/06/46128469/nike-q4-earnings-revenue-beat-eps-beat-headwinds-expected-to-moderate-moving-forward-company">fourth quarter earnings</a> on Thursday was the rapid ascent of its Vomero 18 running shoes, which became a $100 million franchise within just 90 days of launch.



Check out the current price of <a href="https://www.benzinga.com/quote/NKE">NKE stock here. </a> What Happened: During the earnings call, the company&#8217;s CEO, Elliot Hill, did not hold back when highlighting the success of this brand, and called it a clear sign of innovation-led growth is returning.



&#8220;Vomero has already become a $100 million business with growth in all GEOs,&#8221; Hill said, while crediting strong consumer response across its &#8220;Nine Box&#8221; running shoes lineup and early wholesale enthusiasm as key drivers of the new model's rapid success.



See Also: <a href="https://www.benzinga.com/trading-ideas/dividends/25/06/46113250/how-to-earn-500-a-month-from-nike-stock-ahead-of-q4-earnings-2">How To Earn $500 A Month From Nike Stock Ahead Of Q4 Earnings?</a>



Hill adds that the company is doubling down on the brand, with variants already on their way. &#8220;We have Vomero Plus and Vomero Premium coming in&#8230; Both those shoes are beautiful shoes and incredibly innovative and distinctive,&#8221; he said.



He, however, acknowledged during the call that the company&#8217;s fourth quarter results weren&#8217;t &#8220;up to the Nike standards,&#8221; adding that they&#8217;re in the process of repositioning the business around the &#8220;WinNow Actions.&#8221; This essentially refers to aligning the company around culture, product, marketing, marketplace, and its ground game.



Hill emphasized this cultural and operational transformation, saying that it was &#8220;time to turn the page.&#8221; The company&#8217;s CFO, Matthew Friend, said, &#8220;The fourth quarter reflected the largest financial impact from our WinNow actions.&#8221;



Why It Matters: Investor Gary Black, the founder of the Future Fund, who notes that he owns no position in the sporting apparel company, applauded its turnaround efforts under Hill in a post on X.



Black, who says that the company&#8217;s had a disastrous year, believes the business has &#8220;hit bottom,&#8221; as a result of its &#8220;not as bad as feared&#8221; fourth quarter results, and it going &#8220;back to its roots&#8221; as a product innovator, with a focus on sports and athletes. 



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24NKE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NKE</a> (no position) +10% AH after reporting 4Q results that were not as bad as feared, gave stronger than expected 1Q rev guidance (down MSD vs -7% exp), and signaled NKE's business had hit bottom. <a href="https://twitter.com/search?q=%24NKE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NKE</a> has been a disaster over the past year (NKE -34% vs SPX +12% and <a href="https://twitter.com/search?q=%24ONON&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ONON</a> +34%)… <a href="https://t.co/vquk0DzIPm">pic.twitter.com/vquk0DzIPm</a>&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1938371271802134783?ref_src=twsrc%5Etfw">June 26, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The company reported its <a href="https://www.benzinga.com/25/03/44430536/bill-ackman-backed-nike-reports-worst-footwear-revenue-in-more-than-a-decade-takes-action-to-continue-liquidating-inventory-amid-grim-outlook">worst footwear sales</a> performance in over a decade during its third quarter results three months ago, which was largely owing to efforts in &#8220;rightsizing&#8221; its inventory, and helping Nike return to a more &#8220;complete and balanced portfolio.&#8221;



It has since mounted a strong turnaround, reporting $11.1 billion in revenue during its <a href="https://www.benzinga.com/markets/earnings/25/06/46128469/nike-q4-earnings-revenue-beat-eps-beat-headwinds-expected-to-moderate-moving-forward-company">fourth quarter results</a> on Thursday, coming in ahead of consensus estimates at $10.72 billion. The company posted a profit of $0.14 per share, beating analyst estimates of $0.11 per share, according to <a href="http://pro.benzinga.com/?_gl=1&#x2A;140pvyv&#x2A;_gcl_au&#x2A;OTU0MzA1MzE4LjE3NDcwMTIxNDM.&#x2A;_ga&#x2A;ZGVsZXRlZA..&#x2A;_ga_V7ZK73W7N0&#x2A;czE3NTA5ODU5ODckbzI2MSRnMSR0MTc1MDk5NjUwNSRqMjAkbDAkaDA.">Benzinga Pro</a>.



Price Action: Shares of Nike were up 2.81% on Thursday, trading at $62.54, and are up 10.73% after hours, following its fourth quarter earnings results after markets closed.



<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="146" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26235822/Screenshot-2025-06-27-at-9.28.07-AM-1024x146.png" alt="" class="wp-image-964215" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26235822/Screenshot-2025-06-27-at-9.28.07-AM-1024x146.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26235822/Screenshot-2025-06-27-at-9.28.07-AM-300x43.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26235822/Screenshot-2025-06-27-at-9.28.07-AM-768x110.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26235822/Screenshot-2025-06-27-at-9.28.07-AM.png 1528w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



Nike scores poorly on Benzinga&#8217;s Edge Stock Rankings, but has a favorable price trend in the short term. Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a> for deeper insights on the stock, its peers and competitors.



Photo Courtesy: pio3 on Shutterstock.com



Read More: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/previews/25/06/46104171/nike-q4-earnings-preview-market-expert-says-things-arent-looking-good">Nike Q4 Earnings Preview: Market Expert Says &#8216;Things Aren&#8217;t Looking Good&#8217;</a></li>
</ul>

Earnings

Nike's Vomero 18 Quietly Became A $100 Million Franchise In 90 Days As CEO Says It's 'Time To Turn The Page' — Investor Gary Black Cheers 10% After-Hours Rally

Indian authorities have successfully extracted the black box data from the Air India flight that tragically crashed earlier this month, India&#8217;s civil aviation ministry said on Thursday. This step was long-awaited and is expected to provide crucial insights into the cause of the disaster.



What Happened: The Civil Aviation Ministry of India announced the recovery of the black box data from the Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) 787 Dreamliner that crashed in Ahmedabad, India, on June 12, killing 260 people, Reuters reported. The aircraft was flying to London when it crashed shortly after takeoff. The recovery of the Cockpit Voice Recorder and Flight Data Recorder is a crucial step.



The Ministry, in a statement, said, &#8220;These efforts aim to reconstruct the sequence of events leading to the accident and identify contributing factors to enhance aviation safety and prevent future occurrences.&#8221; 



See Also: <a href="https://benzinga.com/markets/tech/25/06/46125266/thank-you-elon-musks-longtime-aide-reportedly-fired-days-after-public-praise">&#8216;Thank You, Elon:&#8217; Musk&#8217;s Longtime Aide Reportedly Fired Days After Public Praise</a>



The data was accessed by a team led by India&#8217;s Aircraft Accident Investigation Bureau in collaboration with the U.S. National Transportation Safety Board. The investigation is expected to focus on the aircraft&#8217;s engine thrust, among other factors.



Why It Matters: The recovery of the black box data is a significant development in the investigation into the Air India crash. This step is expected to provide critical insights into the events leading up to the <a href="https://www.benzinga.com/markets/equities/25/06/45899174/boeing-dreamliner-carrying-over-200-passengers-crashes-shortly-after-takeoff-near-indias-ahmedabad-ba-stock-falls-over-5-in-thursday-pre-market">disaster</a>, potentially shedding light on the causes and contributing factors.



The fatal crash has had a significant impact on the aviation industry, particularly on Boeing. The incident has raised questions about the safety and quality of Boeing aircraft, leading to <a href="https://www.benzinga.com/markets/tech/25/06/45991614/if-its-boeing-im-not-going-why-some-people-are-turning-their-backs-on-the-american-plane-maker-in-favor-of-rival-airbus">a shift in public perception</a> and potential consequences for the company&#8217;s future.&nbsp;



Involvement of two major U.S. aerospace players, Boeing and GE, in the aircraft, places them at the center of the investigation, with potential legal and reputational risks.



Price in Action: Boeing has gained 1.85% during regular trading and closed at approximately $202.58,  according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.



Benzinga's Edge Stock Rankings indicates Boeing stock has a Momentum in the 71st percentile. How does the stock stack up against other aviation players? <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Find out here.</a>



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="976" height="144" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26225139/Screenshot-2025-06-27-080813.png" alt="" class="wp-image-964137" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26225139/Screenshot-2025-06-27-080813.png 976w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26225139/Screenshot-2025-06-27-080813-300x44.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26225139/Screenshot-2025-06-27-080813-768x113.png 768w" sizes="(max-width: 976px) 100vw, 976px" /></figure>



Read Next: 



<ul class="wp-block-list">
<li><a href="https://benzinga.com/news/politics/25/06/46108180/no-point-fighting-against-the-tide-by-opposing-zohran-mamdani-says-gemini-co-founder-cameron-winkle">No Point &#8216;Fighting Against The Tide&#8217; By Opposing Zohran Mamdani, Says Gemini Co-Founder Cameron Winklevoss: &#8216;Things Will Have To Get Worse In NYC Before They Get Better&#8217;</a></li>
</ul>



Photo Courtesy: Renatas Repcinskas on Shutterstock.com



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

AIRI

Boeing 787 Dreamliner Black Box Recovered, Data Under Scrutiny To Provide Insights Into Fatal Air India Crash

Cathie Wood, founder and CEO of ARK Invest, has recently been on a hot streak of successful and high-profile trades through her <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/06/46107133/cathie-wood-doubles-down-on-shopify-buys-the-dip-dumps-4-6-million-worth-of-robinhood-stock-at-peak">flagship ARK ETFs.&nbsp;</a>



What To Know: Wood's recent notable trades include selling a significant stake in Circle Internet Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRCL#NYSE">CRCL</a>) and increasing her investment in Advanced Micro Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>). 



These moves reflect a strategic shift in ARK's portfolio, emphasizing established technology and semiconductor exposure while reducing positions in companies that have experienced rapid price appreciation.



Read Next: <a href="https://www.benzinga.com/news/space/25/06/46055895/ast-spacemobile-stock-downgraded-rocket-lab-prepares-electron-launch-space-stock-countdown?utm_source=articleShare">AST SpaceMobile Stock Downgraded, Rocket Lab Prepares Electron Launch: Space Stock Countdown</a>



Last week, ARK <a href="https://www.benzinga.com/markets/equities/25/06/46041276/cathie-woods-ark-invest-adds-airbnb-amd-shopify-to-portfolio-slashes-stake-in-circle-internet">offloaded more than</a> 600,000 Circle shares for approximately $147.81 million, followed by more sales amounting to an additional nearly $100 million on Monday. 



Circle, known for issuing the USDC (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>) stablecoin, had seen its stock surge more than 650% since its initial public offering on June 5. Wood's decision to sell appears to be a classic profit-taking move after such a meteoric rise.&nbsp;



At the same time, ARK has been ramping<a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/06/46066220/cathie-woods-ark-invest-cashes-out-109-million-out-of-circle-internet-stock-as-shares-spike-pivots-into-robinhood-and-these-chip-stocks"> up its stake</a> in AMD, purchasing over 130,000 shares on Monday and more than 247,000 shares in the previous week, totaling tens of millions of dollars in new investments.&nbsp;



AMD is increasingly recognized as a strong alternative to NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) in the AI chip market, with significant growth in data center and AI processor demand. 



AMD shares are up more than 30% over the past month. The stock received a boost from analyst upgrades, with CFRA raising its rating to Strong Buy and lifting its price target to $165 from $125.&nbsp;



The upgrade reflects growing confidence in AMD's position within the semiconductor and AI sectors, areas where ARK has shown sustained interest.



Wood's strategy appears to be a bet on the broader AI chip market rather than picking a single winner, as evidenced by her holdings in both AMD and Nvidia.&nbsp;



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/health-care/25/06/46056665/unitedhealth-cvs-among-major-insurers-to-fast-track-prior-authorizations-will-it-cut-profits-even-more?utm_source=articleShare">UnitedHealth, CVS Among Major Insurers To Fast-Track Prior Authorizations: Will It Cut Profits Even More?</a></li>
</ul>



Image: Shutterstock&nbsp;

Management

$USDC

CRCL

Cathie Wood's Alpha Surge: $250 Million Circle Windfall, Big AMD Buys

Electric Vehicle maker Tesla, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) chief <a target="_blank" href="https://www.benzinga.com/markets/tech/25/06/46088008/elon-musk-agrees-google-had-all-the-tools-but-still-lost-the-ai-race-to-openai-echoes-social-media-post-having-the-pieces-isnt-the-same-as-playing-the-game" rel="noreferrer noopener">Elon Musk</a><a target="_blank" href="https://www.benzinga.com/markets/tech/25/06/46088008/elon-musk-agrees-google-had-all-the-tools-but-still-lost-the-ai-race-to-openai-echoes-social-media-post-having-the-pieces-isnt-the-same-as-playing-the-game" rel="noreferrer noopener"> </a>has reportedly <a target="_blank" href="https://www.benzinga.com/top-stories/24/06/39457749/tesla-leads-2024-us-tech-layoffs-so-far-followed-by-dell-cisco-xerox-paypal-microsoft" rel="noreferrer noopener">terminated the employment</a> of his long-time confidant Omead Afshar.



Bloomberg <a target="_blank" href="https://www.bloomberg.com/news/articles/2025-06-26/musk-confidant-afshar-exits-tesla-in-latest-high-level-departure" rel="noreferrer noopener">reports</a>, citing sources familiar with the matter, that Afshar&#8217;s name no longer appears in Tesla&#8217;s internal directory, and news of his departure sparks discussion among employees.



Before his reported departure, Afshar was Tesla&#8217;s vice president in charge of sales and manufacturing in North America and Europe.



Also Read: <a target="_blank" href="https://www.benzinga.com/markets/tech/25/06/46066609/elon-musks-lawyers-say-he-doesnt-use-a-computer-but-the-tesla-ceo-has-touted-an-ancient-pc-laptop-with-a-dogecoin-sticker-more-than-once" rel="noreferrer noopener">Elon Musk&#8217;s Lawyers Say He Doesn&#8217;t &#8216;Use A Computer,&#8217; But The Tesla CEO Has Touted An &#8216;Ancient PC Laptop&#8217; With A Dogecoin Sticker More Than Once</a>



Afshar&#8217;s abrupt departure is likely to raise eyebrows, especially following his June 23 social media post praising Musk&#8217;s robotaxi push in Austin.



&#8220;Thank you, Elon, for pushing us all!&#8221; Afshar <a target="_blank" href="https://x.com/omead/status/1937194919082230037" rel="noreferrer noopener">wrote</a> on X, formerly Twitter.



Meanwhile, a Forbes <a target="_blank" href="https://www.forbes.com/sites/alanohnsman/2025/06/26/elon-musk-has-fired-one-of-his-top-tesla-lieutenants/" rel="noreferrer noopener">report </a>claims Musk himself fired Afshar amid slumping sales in both regions and the brand&#8217;s waning popularity.



<h2 class="wp-block-heading">Sales Drop Adds Pressure</h2>



Tesla&#8217;s new vehicle<a target="_blank" href="https://www.benzinga.com/trading-ideas/movers/25/06/46100260/tesla-stock-is-sliding-wednesday-whats-going-on-3" rel="noreferrer noopener"> sales fell 27.9% year-over-year in Europe</a> last month, despite the broader electric vehicle segment growing by 27.2% in the region, according to Reuters, citing data from the European Automobile Manufacturers Association (ACEA).



The company&#8217;s latest Model Y update has yet to reverse the downward trend for Tesla that started when buyers began protesting Musk&#8217;s&nbsp;political involvement.



According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, TSLA stock has gained over 66% in the past year. Investors can gain exposure to the stock via&nbsp;Simplify Volt TSLA Revolution ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TESL#NYSE">TESL</a>).



Other notable recent Tesla departures include Milan Kovac, former head of engineering for the Optimus humanoid robot project, and Jenna Ferrua, who is listed on LinkedIn as Tesla&#8217;s HR director for North America, Bloomberg adds.



Tech Crunch <a target="_blank" href="https://techcrunch.com/2025/06/26/elon-musk-reportedly-fires-teslas-top-sales-exec/" rel="noreferrer noopener">reports </a>that Afshar entered the company in 2017 and was a part of the &#8220;office of the CEO.&#8221; In 2022, he came under internal scrutiny for allegedly being linked to a plan to buy specialized materials for a glass structure reportedly envisioned by Musk, Tech Crunch adds.



The matter later drew investigations from both the Department of Justice and the SEC in 2023.



Afshar&#8217;s rumored departure also coincides with broader EV industry turbulence, as Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) recently cut around 140 jobs amid cost pressures.



Rivian&#8217;s layoffs, largely targeting the firm&#8217;s manufacturing team, began Wednesday, with some roles cut over &#8220;process inefficiencies,&#8221; former employees <a target="_blank" href="https://techcrunch.com/2025/06/26/rivian-cuts-dozens-on-manufacturing-team-ahead-of-r2-launch/" rel="noreferrer noopener">told </a>Tech Crunch.



Price Action: TSLA shares are trading lower by 0.27% to $326.68&nbsp;at last check Thursday.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/06/46121729/nio-plots-hong-kong-entry-with-new-game-plan-to-challenge-tesla" target="_blank" rel="noreferrer noopener">NIO Plots Hong Kong Entry With New Game Plan To Challenge Tesla</a></li>
</ul>



Photo Courtesy Frederic Legrand &#8211; COMEO Via Shutterstock

General

RIVN

TESL

TSLA

'Thank You, Elon:' Musk's Longtime Aide Reportedly Fired Days After Public Praise

Markets have continued to grind upward despite the short-lived Israel-Iran war, the <a href="https://www.benzinga.com/personal-finance/management/25/06/46011739/jerome-powell-led-fed-has-left-interest-rate-unchanged-what-does-it-mean-for-savings-mortgages-credit-cards-and-your-bank-account">Fed&#8217;s pause</a> on interest rate cuts and what feels like seemingly bearish headlines every day.



With stocks determined to keep climbing, albeit slowly, I looked for a company that will have strength going forward, and landed on semiconductor giant Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>).



With the chip and AI rally showing no signs of slowing down, <a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/06/46121658/micron-impresses-wall-street-with-strong-q3-earnings-continued-strength-in-ai-data-center">Micron</a> seems set to benefit. At the same time, the stock has not been rising as astronomically fast as some other chip competitors, at least not yet.



That&#8217;s a very good thing for the trade I have in mind today.



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



Most traders chase headlines. The pros focus on trends that last. This 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/?">HERE</a> while limited seats are still available.



Here&#8217;s a simple trade to help boost your returns on Micron.



The trade I have in mind is a leap covered call. A leap is an options position that expires well into the future, usually after one year or more. For us today, we&#8217;ll be using options that expire in June 2026.



A covered call, meanwhile, involves owning the underlying stock (Micron, in this case) while at the same time selling calls on that stock to collect premiums.



The selling of the call option well into the future allows the trader to hold the stock at a discount and if the stock continues to rise, the call option can be covered and a new option opened against the stock (commonly called rolling the strike) to continue to both hold the stock and collect more revenue as time moves forward and the stock continues to climb.



If the stock fades, we have a solid cushion of profit the short call provides.&nbsp;



As I&#8217;m writing this, Micron&#8217;s relative resistance zone is around $157, while support sits near $95. Because of that, here&#8217;s how I&#8217;m structuring this Micron covered call:



<ul class="wp-block-list">
<li>Buy 100 shares of MU – price at this writing is $127.25 per share</li>



<li>Sell to Open 1 MU 18 Jun 2026 130 calls – currently priced at $24.50 </li>
</ul>



The breakeven prices of the stock at expiration on this trade is calculated by subtracting the credit received against the cost of the stock = $12,725 &#8211; $2,450 =$10,275, less commissions. This implies the actual cost of each share would be reduced to $102.75, a 20% discount.&nbsp;



The possible ways to leave the trade are:



<ol class="wp-block-list">
<li>Hold the stock and the option until expiration of June, 2026. If the price of the stock is above $130, the trader will relinquish the stock at $130 collecting the difference between the actual cost of the shares ($102.75 and the $130 strike price = $130 -$102.75 = $27.25 less commissions or 26 % return). </li>



<li>Set an alert for $102.75 – the breakeven price. Sell the entire position if your risk thresholds are breached. </li>
</ol>



A trader who is bullish on Micron might say that you should sell the calls much further out of the money &#8211; that is, with a much higher strike price. That&#8217;s true, but if the market has any significant retracements, selling the strike at the money provides a tidy cushion of support while still buying the stock for potential upside.



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

This Week's Best Chip Stock Trade: Micron Technology

Nike Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) reported fourth-quarter financial results for fiscal 2025 Thursday after the market close. Here&#8217;s a rundown of the athletic footwear and <a href="https://www.benzinga.com/pressreleases/25/06/b46127659/nike-inc-reports-fiscal-2025-fourth-quarter-and-full-year-results">apparel company&#8217;s report</a>.



Q4 Earnings: Nike reported fourth-quarter revenue of $11.1 billion, beating analyst&nbsp;<a href="http://benzinga.com/quote/nke/earnings" target="_blank" rel="noreferrer noopener">estimates</a>&nbsp;of $10.72 billion. The company&nbsp;reported fourth-quarter earnings of 14 cents per share, beating analyst estimates of 11 cents per share, according to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.



Total revenue was down 12% year-over-year in the quarter. Nike Direct revenues were $4.4 billion in the quarter, down 14% year-over-year. Nike Brand revenues totaled $10.8 billion, down 11%, and Wholesale revenues fell 9% to $6.4 billion.



Here's a breakdown of sales by region:



<ul class="wp-block-list">
<li>North America:&nbsp;down 11%</li>



<li>Greater China:&nbsp;down 21%</li>



<li>Europe, Middle East &amp; Africa:&nbsp;down 9%</li>



<li>Asia Pacific and Latin America:&nbsp;down 8%</li>
</ul>



Inventories were $7.5 billion at the end of the fourth quarter, flat compared to the prior year. Nike ended the period with $9.2 billion in cash, cash equivalents and short-term investments.



&#8220;While our financial results are in-line with our expectations, they are not where we want them to be. Moving forward, we expect our business to improve as a result of the progress we&#8217;re making through our Win Now actions,&#8221; said&nbsp;Elliott Hill, president and CEO of Nike.



&#8220;As we enter a new fiscal year, we are turning the page and the next step is aligning our teams to lead with sport through what we are calling the sport offense. This will accelerate our Win Now actions to reposition our business for future growth.&#8221;



Nike said it returned $591 million to shareholders in the form of dividends and repurchased $202 million of its common stock in the quarter. 



Nike CFO Matthew Friend said the company expects headwinds to moderate moving forward. 



Nike is expected to provide forward guidance on its earnings call with investors and analysts, which is scheduled to start at 5 p.m. ET.



NKE Price Action: <a href="http://benzinga.com/quote/nke" target="_blank" rel="noreferrer noopener">Nike shares</a> were bouncing around following the report, last down 1.07% in after-hours at $61.87 at the time of publication Thursday, according to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/economic-data/25/06/46124290/sp-500-hits-record-highs-and-history-says-the-best-is-yet-to-come">S&amp;P 500 Trades At Record Highs—And History Says The Best Is Yet To Come</a></li>



<li><a href="https://www.benzinga.com/trading-ideas/dividends/25/06/46113250/how-to-earn-500-a-month-from-nike-stock-ahead-of-q4-earnings-2">How To Earn $500 A Month From Nike Stock</a></li>
</ul>



Photo: Roman Zaiets/Shutterstock.com

Global

Nike Q4 Earnings: Revenue Beat, EPS Beat, Headwinds Expected To Moderate Moving Forward, Company Playing 'Sport Offense'

Editor's Note: This story has been updated to reflect that the S&amp;P 500 surpassed its previous closing high during intraday trading.



The S&amp;P 500 pushed into record territory on Thursday, topping its previous all-time closing high from February 19, as the U.S. stock market <a href="https://www.benzinga.com/markets">continued its rebound.</a>



That's a major comeback considering how things looked just a few months ago.



On April 7, stocks were in a state of panic. Fears over Trump&#8217;s tariffs and a potential recession sparked a steep selloff, with the S&amp;P tumbling 21% from its February highs.



However, since then, the market has rebounded by a stunning 27%, driven by easing trade tensions, stronger-than-expected corporate earnings, and receding recession fears.



Now, investors are turning their attention to what comes next, and if history is any guide, the rally may just be getting started.



<h2 class="wp-block-heading">A Golden Cross Is Coming: Why It Matters</h2>



The S&amp;P 500 – as tracked by the Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) – is close to flashing what traders call a golden cross. 



That's when the 50-day moving average rises above the 200-day moving average—a sign that momentum is picking up and a new leg higher could be underway.



While it may sound like a niche signal, the golden cross has proven to be a historically reliable indicator of bull markets.



Since World War II, the golden cross signal has appeared 37 times on the S&amp;P 500, and nearly three out of four times, it has led to gains.



A simple strategy of buying the index at the golden cross and selling at the following death cross – when the 50-day crosses below the 200-day average – would have shown: 



<ul class="wp-block-list">
<li>Average gain per trade: +14.7%</li>



<li>Winning ratio: 73% (27 out of 37 trades ended in profit)</li>



<li>Average trade duration: 565 days</li>
</ul>



The strongest signal on record occurred in 1994, resulting in a remarkable 120.9% gain over a four-year period.



And looking at more recent history—since 1995—the results still shine.



On average, each trade delivered a 15.5% total return, and 10 out of 13 trades were profitable, for a win rate of 77%.



The strongest performance occurred during the 2012–2015 period, with a 51.4% gain, while the briefest and worst-performing signal resulted in a 4.7% loss over just 21 days in early 2016.



Most recently, the 2023–2025 golden-cross trade posted a solid 30.8% gain.



<h3 class="wp-block-heading">Golden Cross Strategy On The S&amp;P 500</h3>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><thead><tr><th>Date Entry</th><th>Date Exit</th><th>Length (Days)</th><th>S&amp;P 500 Price at Buy</th><th>S&amp;P 500 Price at Sell</th><th>Performance</th><th>Annualized Gain</th></tr></thead><tbody><tr><td>1998-12-09</td><td>1999-11-05</td><td>331</td><td>1,181.38</td><td>1,363.55</td><td>+15.42%</td><td>+17.28%</td></tr><tr><td>1999-11-12</td><td>2000-10-31</td><td>355</td><td>1,383.04</td><td>1,401.18</td><td>+1.31%</td><td>+1.34%</td></tr><tr><td>2003-05-15</td><td>2004-08-19</td><td>462</td><td>940.47</td><td>1,094.99</td><td>+16.43%</td><td>+12.51%</td></tr><tr><td>2004-11-08</td><td>2006-07-20</td><td>619</td><td>1,166.17</td><td>1,260.21</td><td>+8.06%</td><td>+4.65%</td></tr><tr><td>2006-09-13</td><td>2007-12-24</td><td>467</td><td>1,312.33</td><td>1,484.55</td><td>+13.12%</td><td>+9.70%</td></tr><tr><td>2009-06-24</td><td>2010-07-06</td><td>377</td><td>896.31</td><td>1,028.09</td><td>+14.70%</td><td>+13.89%</td></tr><tr><td>2010-10-25</td><td>2011-08-15</td><td>294</td><td>1,184.74</td><td>1,178.86</td><td>-0.50%</td><td>-0.62%</td></tr><tr><td>2012-02-01</td><td>2015-08-31</td><td>1,308</td><td>1,312.45</td><td>1,986.73</td><td>+51.38%</td><td>+13.26%</td></tr><tr><td>2015-12-22</td><td>2016-01-12</td><td>21</td><td>2,023.15</td><td>1,927.83</td><td>-4.71%</td><td>-53.92%</td></tr><tr><td>2016-04-26</td><td>2018-12-10</td><td>958</td><td>2,089.84</td><td>2,630.86</td><td>+25.89%</td><td>+9.39%</td></tr><tr><td>2019-04-02</td><td>2020-03-31</td><td>364</td><td>2,868.24</td><td>2,614.69</td><td>-8.84%</td><td>-8.84%</td></tr><tr><td>2020-07-10</td><td>2022-03-15</td><td>613</td><td>3,152.47</td><td>4,188.82</td><td>+32.87%</td><td>+17.38%</td></tr><tr><td>2023-02-03</td><td>2025-04-15</td><td>802</td><td>4,136.69</td><td>5,411.99</td><td>+30.83%</td><td>+13.13%</td></tr></tbody><tfoot><tr><td></td><td>Average</td><td>578</td><td></td><td></td><td>+15.5%</td><td>+6.9%</td></tr></tfoot></table><figcaption class="wp-element-caption">Data: TradingView</figcaption></figure>



<h2 class="wp-block-heading">Will Seasonality Boost US Stocks In July?</h2>



Beyond technicals, calendar gains may also help. Seasonal trends show that late June through the end of July has historically been a strong period for the S&amp;P 500.



Analyzing the S&amp;P 500's performance between June 26 and July 31 – or the nearest trading days – over the past 15 years, Seasonax data reveals an average return of +3.46% during this period, with 14 out of 15 years finishing in the green.



The strongest July stretch came in 2016, when the index gained 8.51%. The only loss occurred in 2014, with a modest decline of 1.36%.



In fact, if you had bought the index around June 26 and held it through July 31 for the last 15 years, you would have made money 14 times out of 15.



The average return during that window? 3.46%.



In 2016 and 2020, the index jumped more than 8%. The only time it dropped was in 2014, and even then, the decline was only 1.36%. Most years didn't see big pullbacks either, meaning the risk has been relatively low during this midsummer stretch.



<h3 class="wp-block-heading">S&amp;P 500 Enters Strong Seasonal Window: More Gains To Come?</h3>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><thead><tr><th>Start Date</th><th>End Date</th><th>S&amp;P 500 Start Price</th><th>S&amp;P 500 End Price</th><th>Profit (Pts)</th><th>% Gain</th><th>Max Rise</th><th>Max Drawdown</th></tr></thead><tbody><tr><td>28 Jun 2010</td><td>02 Aug 2010</td><td>1,074.57</td><td>1,125.86</td><td>+51.29</td><td>+4.77%</td><td>+4.77%</td><td>-4.84%</td></tr><tr><td>27 Jun 2011</td><td>01 Aug 2011</td><td>1,280.10</td><td>1,286.94</td><td>+6.84</td><td>+0.53%</td><td>+5.71%</td><td>0.00%</td></tr><tr><td>26 Jun 2012</td><td>31 Jul 2012</td><td>1,319.99</td><td>1,379.32</td><td>+59.33</td><td>+4.49%</td><td>+5.00%</td><td>0.00%</td></tr><tr><td>26 Jun 2013</td><td>31 Jul 2013</td><td>1,603.26</td><td>1,685.73</td><td>+82.47</td><td>+5.14%</td><td>+5.76%</td><td>0.00%</td></tr><tr><td>26 Jun 2014</td><td>31 Jul 2014</td><td>1,957.22</td><td>1,930.67</td><td>-26.55</td><td>-1.36%</td><td>+1.57%</td><td>-1.36%</td></tr><tr><td>26 Jun 2015</td><td>31 Jul 2015</td><td>2,101.49</td><td>2,103.84</td><td>+2.35</td><td>+0.11%</td><td>+1.27%</td><td>-2.61%</td></tr><tr><td>27 Jun 2016</td><td>01 Aug 2016</td><td>2,000.54</td><td>2,170.84</td><td>+170.30</td><td>+8.51%</td><td>+8.72%</td><td>0.00%</td></tr><tr><td>26 Jun 2017</td><td>31 Jul 2017</td><td>2,439.07</td><td>2,470.30</td><td>+31.23</td><td>+1.28%</td><td>+1.59%</td><td>-1.20%</td></tr><tr><td>26 Jun 2018</td><td>31 Jul 2018</td><td>2,723.06</td><td>2,816.29</td><td>+93.23</td><td>+3.42%</td><td>+4.52%</td><td>-0.86%</td></tr><tr><td>26 Jun 2019</td><td>31 Jul 2019</td><td>2,913.78</td><td>2,980.38</td><td>+66.60</td><td>+2.29%</td><td>+3.85%</td><td>0.00%</td></tr><tr><td>26 Jun 2020</td><td>31 Jul 2020</td><td>3,009.05</td><td>3,271.12</td><td>+262.07</td><td>+8.71%</td><td>+8.87%</td><td>0.00%</td></tr><tr><td>28 Jun 2021</td><td>02 Aug 2021</td><td>4,290.61</td><td>4,387.16</td><td>+96.55</td><td>+2.25%</td><td>+3.07%</td><td>-0.75%</td></tr><tr><td>27 Jun 2022</td><td>01 Aug 2022</td><td>3,900.11</td><td>4,118.63</td><td>+218.52</td><td>+5.60%</td><td>+5.90%</td><td>-2.94%</td></tr><tr><td>26 Jun 2023</td><td>31 Jul 2023</td><td>4,328.82</td><td>4,588.96</td><td>+260.14</td><td>+6.01%</td><td>+6.01%</td><td>0.00%</td></tr><tr><td>26 Jun 2024</td><td>31 Jul 2024</td><td>5,477.90</td><td>5,522.30</td><td>+44.40</td><td>+0.81%</td><td>+3.46%</td><td>-1.44%</td></tr></tbody></table><figcaption class="wp-element-caption">Data: Seasonax</figcaption></figure>



<h3 class="wp-block-heading">So, What's the Bottom Line?</h3>



The S&amp;P 500 is breaking records again. A golden cross is forming. And seasonality is in the market's favor. 



Nothing in markets is guaranteed—but history suggests the path ahead could be smoother, and maybe even profitable, for those who stay in.



Read Next:



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S&P 500 Trades At Record Highs—And History Says The Best Is Yet To Come (UPDATED)

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