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:



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

Equities

AOUT

APOG

CNVS

CNXC

NVDA

PONY

UBER

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

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.

News

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

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;



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



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



Photo courtesy: glen photo / Shutterstock.com

Tech

Media

AMZN

BABA

GOOG

GOOGL

MSFT

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

Movers

Trading Ideas

$BTC

$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

Sports

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

Opinion

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:



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



Photo: Shutterstock

Econ #s

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

Wall Street entered full rally mode on Thursday, with the Nasdaq 100 extending its record-setting climb and the S&amp;P 500 approaching its February peak, as easing geopolitical fears and renewed hopes for a dovish Federal <a href="https://www.benzinga.com/topic/federal-reserve">Reserve lifted investor sentiment.</a>



By midday in New York, the S&amp;P 500 was up 0.7% to 6,136, just nine points shy of its all-time high of 6,145. The Nasdaq 100 rose another 0.7% to 22,400, marking yet another intraday record.



Meanwhile, small caps surged, with the Russell 2000 jumping 1%, outperforming the broader market.



On the macro 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.



Currency markets added fuel to the equity rally. The U.S. dollar index fell to 97, its lowest level since February 2022, as traders increasingly bet that the next Fed chair nominee — with a <a href="https://www.benzinga.com/author/piero-cingari">shortlist reportedly down to four or five names</a> — will favor a dovish stance, potentially setting the stage for deeper rate cuts in 2026.



All S&amp;P 500 sectors traded in the green, except real estate. Energy stocks outperformed, rebounding after sharp down days as crude oil prices rose 2% to $66 per barrel.



Other commodities — especially metals — also rose, fueled by dollar weakness. Silver rose 1.2%, while palladium and <a href="https://www.benzinga.com/markets/commodities/25/06/46120819/platinum-miners-forecasts-stocks">platinum</a> spiked 6.1% and 4.3%, respectively. Copper rose 2.8% hitting a three-month high, while gold held steady at $3,330 per ounce.



Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was unchanged at $107,220. 



<h1 class="wp-block-heading">Thursday&#8217;s Performance In Major U.S. Indices, ETFs</h1>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Major Indices </td><td>Price</td><td>% Chg</td></tr><tr><td>• Russell 2000</td><td>2,158.05</td><td>+1.0%</td></tr><tr><td>• Dow Jones</td><td>43,355.44</td><td>+0.9%</td></tr><tr><td>• Nasdaq 100</td><td>22,403.44</td><td>+0.7%</td></tr><tr><td>• S&amp;P 500</td><td>6,136.45</td><td>+0.7%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated at 1:00 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 Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) rose 0.66% to $563.41.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 0.8% to $433.26.</li>



<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;soared 0.7% to $544.72.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rallied 1% to $214.05.</li>



<li>The&nbsp;Energy&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) outperformed, up 1.5%; the&nbsp;Real Estate&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) lagged, down 0.8%.</li>
</ul>



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



<ul class="wp-block-list">
<li>Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) surged past $155 per share to hit record highs, becoming the world's most valuable company at $3.8 trillion.</li>



<li>Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) slipped 1.1%, even after delivering <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">stronger-than-expected quarterly earnings</a>.</li>



<li>Other stocks reacting to earnings included Acuity Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AYI#NYSE">AYI</a>), up 7.1%; McCormick Company Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MKC#NYSE">MKC</a>), up 5.2% and Walgreens Boots Alliance Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>), up 0.8%.</li>



<li>Freeport-McMoRan Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) jumped 8%, lifted by rising metal prices, with industry peers Southern Copper Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCCO#NYSE">SCCO</a>), Albemarle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>), and Alcoa Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>) all rallying between 7% and 8%.</li>



<li>Equinix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EQIX#NASDAQ">EQIX</a>) sank 8% after unveiling a long-term growth outlook that underwhelmed investors.</li>



<li>Nike Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) will report earnings after the close. </li>
</ul>



Read Now:



<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

Large Cap

Broad U.S. Equity ETFs

Commodities

ETFs

EQIX

SCCO

XLRE

Stocks Rally To New Highs, Dollar Tumbles To 40-Month Lows: What's Driving Markets Thursday?

President Donald Trump's shortlist for the next Federal Reserve chair is heating up, fueling bets on deep rate cuts, pressuring the dollar and reigniting concerns over the <a href="https://www.benzinga.com/topic/federal-reserve">Fed's long-guarded independence.</a>



According to a Wall Street Journal <a href="https://www.wsj.com/economy/central-banking/trump-next-federal-reserve-chair-powell-d3edcb9c?mod=hp_lead_pos1">report</a>, Trump is considering the following names to replace Jerome Powell, whose term officially ends in May 2026:



<ul class="wp-block-list">
<li>Kevin Warsh: Former Federal Reserve governor between 2006 and 2011 and current Hoover Institution fellow. Warsh is known for advocating tight policy during the Great Recession, but more recently signaled openness to looser monetary conditions.</li>



<li>Christopher Waller: Sitting Fed governor since 2020. Although appointed by Trump, Waller has generally aligned with Powell's policy, although some consider him more accommodating on inflation risks. Last week, Waller indicated that the Federal Reserve could cut interest rates as early as July, departing from the current wait-and-see approach by Powell.</li>



<li>Scott Bessent: Currently Trump's Treasury Secretary and former chief investment officer at Soros Fund Management. Has limited central banking experience, but is seen as loyal to Trump.</li>



<li>Kevin Hassett: Former Chair of the Council of Economic Advisers under Trump, with strong academic credentials and vocal support for pro-growth, low-rate policies.</li>



<li>David Malpass, served as President of the World Bank from 2019 to 2023. Prior to that, he held senior economic roles under Presidents Ronald Reagan and George H. W. Bush. He later served as Under Secretary of the Treasury for International Affairs during Trump's first term.</li>
</ul>



<h2 class="wp-block-heading">Who Will Replace Fed Chair Jerome Powell? Betting Markets Weigh In</h2>



CFTC-regulated prediction market Kalshi shows the race remains tight, with no clear front-runner emerging. 



As of Thursday, both Warsh and Waller are tied with 28% odds each, followed by Bessent at 18% and Hassett trailing at 10%.



A $100 bet on Warsh would return $295 if he&#8217;s nominated, while the same wager on Waller would yield $334. For those backing Bessent, the return jumps to $556, and a longshot bet on Hassett would pay $1,000. 



<iframe loading="lazy" src="https://kalshi.com/external-widgets/events/KXFEDCHAIRNOM-29?color_scheme=light&#038;widget_size=medium&#038;variant=a&#038;ids=KXFEDCHAIRNOM-29-KW&#038;ids=KXFEDCHAIRNOM-29-CWAL&#038;ids=KXFEDCHAIRNOM-29-SBES&#038;utm_campaign=benzinga_widget" width="488px" height="196px" style="border:0"></iframe>



<h3 class="wp-block-heading">Is A &#8220;Shadow Chairman&#8221; Looming?</h3>



Though Powell's term ends in mid-2026, markets are already pricing in a "shadow chairman" effect, according to BBVA analysts, who view the early emergence of a dovish successor as influential.



David Morrison of Trade Nation said, "It is understood that Mr Trump's preferred choices for the role will all be significantly dovish."



That sentiment reflects Trump's repeated criticisms of Powell's high-rate stance. In June, the Fed held interest rates steady at 4.25%–4.50% for a fourth consecutive meeting, prompting renewed ire from the president.



Speaking about Powell at the NATO summit on Wednesday, Trump said, "He goes out pretty soon, fortunately, because I think he's terrible."



Trump added that current rates are inflating the U.S. interest bill and said that a 2-percentage-point rate cut could save the government up to $800 billion annually in debt servicing.



He called Powell "a very political guy," continuing a long feud. 



Lawrence Gillum, chief fixed income strategist at LPL Financial, said, "We think the Fed will cut rates this year and maybe a few times in 2026, but to get a meaningful reduction in U.S. interest expenses, the Fed would likely need to revisit the zero interest rate policies of the pre-COVID-19 years, which is unlikely to happen anytime soon."



<h3 class="wp-block-heading">Dollar Weakness Likely To Extend</h3>



The dollar has emerged as the first casualty of Fed speculation. The U.S. Dollar Index – tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) – dropped Thursday to levels last seen in March 2022, and is down 10% since Trump's inauguration in January.



The euro-dollar pair surged past 1.17, its highest since 2021, while the dollar-franc exchange rate dropped below 0.80, levels not seen since the 2015 Swiss franc peg crisis. 



"Powell's successor as Fed chair has shifted market attention back to the longer-term path for Fed policy, and for Fed independence more broadly," Goldman Sachs said in a note Thursday. 



Markets are increasingly pricing in the possibility that Trump's pick will push for faster and deeper rate cuts. 



Fed funds futures now imply two cuts by the end of 2025, followed by three to four additional cuts in 2026—a significantly more accommodative path than what the Federal Reserve itself projected in its June dot plot, which showed a median expectation of just two cuts next year.



This growing divergence suggests investors are anticipating a clear policy shift under new leadership, even before Powell officially departs.



<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/2025/06/26090101/image-409-1024x528.png" alt="" class="wp-image-963258" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26090101/image-409-1024x528.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26090101/image-409-300x155.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26090101/image-409-768x396.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26090101/image-409-1536x792.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26090101/image-409-2048x1056.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/macro-economic-events/25/06/46113383/us-china-trade-deal-could-be-finalized-next-week-says-harvard-scholar-they-are-going-to-stabilize-this">US-China Trade Deal Could Be Finalized Next Week, Says Harvard Scholar: &#8216;They Are Going To Stabilize This&#8217; </a></li>
</ul>



Photo: Shutterstock

Analyst Color

Government

Macro Economic Events

Currency ETFs

Economics

Federal Reserve

Analyst Ratings

Trump's Fed Chairman Shortlist Is In: What Investors Need To Know

Renewable energy developer Invenergy and tech giant Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) announced a significant expansion of their <a href="https://www.benzinga.com/pressreleases/25/06/n46112463/invenergy-to-provide-meta-with-nearly-800-mw-supporting-data-center-operations">clean energy collaboration</a> on Thursday, with four new agreements totaling an additional 791 megawatts (MW) of procured solar and wind energy.



The agreements will provide near-term energy to support Meta&#8217;s operations, data center growth, and clean energy&nbsp;goals.



This latest set of agreements builds upon a previously announced partnership from 2024, which already saw Invenergy providing Meta with 1,000 MW of renewable energy.



Also Read: <a target="_blank" href="https://www.benzinga.com/25/01/43032486/meta-boosts-green-energy-with-new-solar-deal-supporting-ai-data-center-growth" rel="noreferrer noopener">Meta Boosts Green Energy With New Solar Deal, Supports AI Data Center Growth</a>



Together, these projects bring the companies&#8217; partnership to 1,800 MW, including over 740 MW of new energy generation in&nbsp;Ohio.



The electricity from these projects will be delivered to the local grid, while Meta will receive the clean energy credits associated with the new generation capacity coming online.



These four agreements leverage Invenergy&#8217;s expertise across a diverse portfolio of strategically located clean energy facilities in the U.S.



These include the Yellow Wood Solar Energy Center (300 MW) and the Pleasant Prairie Solar Energy Center (140 MW), both in Ohio and anticipated to commence commercial operations in 2027.



Also part of the deal is the Decoy Solar Energy Center (155 MW) in Arkansas, slated for commercial operations in the same year. Rounding out the quartet is the Seaway Wind Energy Center (196 MW) in Texas, projected to come online in 2028.



The move marks Big Tech&#8217;s prioritization of renewable energy to reduce its carbon footprint and costs and improve sustainability as a large consumer of energy, particularly for data centers.



Beyond solar and wind, Meta is also exploring other innovative energy solutions. In December, Meta <a target="_blank" href="https://www.benzinga.com/tech/24/12/42321266/meta-joins-big-techs-shift-to-nuclear-power-for-ai-ambitions" rel="noreferrer noopener">announced plans to</a> seek proposals from nuclear energy developers to accomplish its artificial intelligence innovation&nbsp;and sustainability goals.



It targeted 1-4 gigawatts of new nuclear generation capacity in the U.S. starting in the early 2030s. Meta said it expects nuclear energy to support the growth needs of the electric grids that power its data centers and the communities around them.



Price Action: META stock was up 0.41% at $711.22 at last check Thursday.



Read Next:



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<li><a href="https://www.benzinga.com/markets/large-cap/25/06/45748439/constellation-energy-signs-20-year-nuclear-power-deal-with-meta-stock-surges" target="_blank" rel="noreferrer noopener">Constellation Energy Signs 20-Year Nuclear Power Deal With Meta, Stock Surges</a></li>
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Photo by Skorzewiak via Shutterstock

Meta Secures More Clean Energy For Power Hungry AI And Data Center Growth

Retail spending on non-essential goods in the U.S. has slumped by 4% in early 2025, a stark reminder of the 2008 financial crisis, according to economist Craig Shapiro.



What Happened: The macro strategist at Bear Traps Report, Shapiro, links this downturn to growing consumer panic over artificial intelligence-driven job losses, drawing parallels to the economic uncertainty that gripped the world over a decade ago during the Global Financial Crisis.



&#8220;The National Retail Federation noted a 4% decline in non-essential retail sales, blaming AI-related job fears. This mirrors the 2008 crisis and threatens industries like hospitality and retail, potentially triggering further layoffs and a downward economic spiral,&#8221; said Shapiro in a Substack post.



He highlighted the Bureau of Economic Analysis data, reporting a 3.5% drop in luxury spending in the first quarter of 2025, which contrasted with a 1.8% rise in necessities.



"Consumers are saving more, spending less, and it's a vicious cycle," Shapiro warns.



Additionally, his analysis points to AI's rapid encroachment into white-collar sectors, with tech giants like Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) investing billions in automation.



See Also: <a href="https://www.benzinga.com/markets/economic-data/25/06/46093421/ai-will-disrupt-25-of-us-jobs-by-2030-and-the-fed-cant-save-them-economist-warns">AI Will Disrupt 25% Of US Jobs By 2030—And The Fed Can&#8217;t Save Them, Economist Warns</a>



Why It Matters: Apart from this, on a monthly basis, the U.S. consumers exhibited <a href="https://www.benzinga.com/markets/economic-data/25/06/45971228/retail-sales-slump-more-than-expected-as-tariff-fears-hit-spending">signs of pressure in May</a>, with a critical spending indicator shrinking for the second time this year, heightening worries about a potential demand slowdown driven by tariff-related trade uncertainties.



Headline retail sales plummeted by 0.9% month-over-month in May 2025, a significant decline from April's revised 0.1% drop, according to the U.S. Census Bureau's Tuesday report. The figure fell short of economists' already pessimistic expectations of a 0.7% decrease.



Shapiro also argues that Federal Reserve interest rate cuts, like the recent 25-basis-point reduction, are <a href="https://www.benzinga.com/markets/economic-data/25/06/46093421/ai-will-disrupt-25-of-us-jobs-by-2030-and-the-fed-cant-save-them-economist-warns">powerless against this structural shift</a>. 



Shapiro advocates for urgent measures like retraining programs and universal basic income pilots, citing Finland's 2017-2018 experiment. As AI panic echoes 2008, he cautions that without bold action, the retail slump could signal a broader economic unraveling.



Price Action: 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 0.34% at $609.18, while the QQQ advanced 0.46% to $543.64, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Read Next:



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<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-expire-and-full-salt-come-back">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>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. 



Image Via shutterstock



<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-expire-and-full-salt-come-back"> </a>

AI Panic Feels Like 2008 Global Financial Crisis All Over Again, Shapiro Says As Retail Sales Plunge 4%

A Harvard scholar has suggested that the United States and China are on the verge of finalizing a trade deal, with the potential for an&nbsp;agreement as soon as next&nbsp;week.



What Happened:  Graham Allison, the founding dean of Harvard University&#8216;s John F. Kennedy School of Government and a former U.S. official, hinted at the possibility of a trade deal between the U.S. and China. He made these remarks at a World Economic Forum (WEF) meeting in Tianjin on Thursday, <a href="https://www.scmp.com/news/china/diplomacy/article/3315914/us-china-trade-deal-near-harvard-scholar-hints-progress-very-intense-talks?module=top_story&amp;pgtype=homepage">reported</a> the South China Morning Post.



Allison stated, &nbsp;&#8220;I&nbsp;would be surprised if in&nbsp;the next week or so&nbsp;we do not see an&nbsp;MOU (memorandum of understanding) coming&nbsp;out of the discussions that&nbsp;have been going on between&nbsp;Bessent and He and their&nbsp;teams in the intermediate period,&#8221; referring to U.S. Treasury Secretary&nbsp;Scott Bessent&nbsp;and China's Vice-Premier&nbsp;He Lifeng, who are leading the trade talks.



Allison shared his perspective on the trade talks following a recent meeting with China's top diplomat, Wang Yi, who voiced optimism about achieving peaceful coexistence between the two countries.



"These are business problems that serious businesspeople know how to solve. And I'm thinking they are going to stabilize this, I believe. But we'll see,"&nbsp;stated Allison



SEE ALSO:&nbsp;<a href="https://benzinga.com/markets/equities/25/06/46107333/nvidia-micron-technology-super-micro-computer-bp-and-tesla-why-these-5-stocks-are-on-investors-r" target="_blank" rel="noreferrer noopener">Nvidia, Micron Technology, Super Micro Computer, BP And Tesla: Why These 5 Stocks Are On Investors&#8217; Radars Today</a>



Why It Matters: The ongoing trade war between the US and China has had significant impacts on both economies. U.S.-listed Chinese stocks such as&nbsp;Alibaba Group Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>),&nbsp;Baidu, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>), and&nbsp;JD.Com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>)&nbsp;rallied after experiencing a downturn earlier this month following President Donald Trump&#8217;s confirmation of a framework finalization for China trade deal.



Furthermore, the tariffs imposed by the Trump administration have led to a <a href="https://www.benzinga.com/markets/macro-economic-events/25/06/46111863/toy-prices-see-unprecedented-surge-as-trump-tariffs-take-a-toll-theres-just-no-escaping-china">surge in toy prices</a> in the U.S. The price of games and playground equipment saw a record 2.2% increase between April and May 2025, a rate significantly higher than the overall inflation rate, as close to 75% sellers in the U.S. import toys from China 



The potential trade agreement could alleviate these economic pressures, marking a significant step towards economic stability for both nations.



<ul class="wp-block-list">
<li>READ MORE: <a href="https://benzinga.com/markets/tech/25/06/46087590/trumps-made-in-america-phone-plan-is-backed-by-a-little-known-network-based-in-his-miami-condo-whose" target="_blank" rel="noreferrer noopener">Trump&#8217;s &#8216;Made in America&#8217; Phone Plan Is Backed By A Little-Known Network Based In His Miami Condo, Whose Website Still Says &#8216;What Is Lorem Ipsum?&#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.

BIDU

US-China Trade Deal Could Be Finalized Next Week, Says Harvard Scholar: 'They Are Going To Stabilize This'

President Donald Trump&#8216;s fiscal 2026 defense budget request signals a strategic pivot toward advanced missile systems and unmanned warfare capabilities while scaling back traditional fighter jet procurement, potentially reshaping revenue streams for major defense contractors.



What Happened: The $892.6 billion defense and national security budget, flat compared to fiscal 2025, cuts F-35 Lightning II orders to 47 units from the 68 requested in former President Joe Biden&#8216;s final budget proposal, Reuters reported, citing budget materials released on Wednesday by the White House.



Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>), the F-35&#8217;s sole manufacturer, faces reduced near-term revenue from the program despite House appropriators proposing to increase the buy to 69 aircraft.



The budget emphasizes procurement of long-range precision munitions, including the Joint Air-to-Surface Standoff Missile Extended Range and Long Range Anti-Ship Missile, both manufactured by Lockheed Martin. These weapons systems align with Pentagon priorities for Indo-Pacific operations designed to counter Chinese military expansion.



Naval shipbuilding also faces constraints, with only three warships included in the base budget request. General Dynamics Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) and Huntington Ingalls Industries Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HII#NYSE">HII</a>), primary builders of Virginia-class submarines and surface vessels, will see reduced procurement volumes as the Navy eliminates 7,286 civilian positions to control costs.



See Also: <a href="https://www.benzinga.com/markets/equities/25/06/46109638/microsoft-ceo-satya-nadella-praises-palantirs-fde-model-as-fantastic-insiders-say-its-not-consulting-it-builds-the-product-customers-need">Microsoft CEO Satya Nadella Praises Palantir&#8217;s FDE Model As &#8216;Fantastic&#8217;—Insiders Say It&#8217;s Not Consulting, It Builds &#8216;The Product Customers Need&#8217;</a>



Why It Matters: The budget allocates increased funding for small drone systems, reflecting lessons learned from the Ukraine conflict, where unmanned aerial vehicles proved cost-effective force multipliers. This shift <a href="https://www.benzinga.com/news/space/25/06/46090791/us-tests-radar-that-could-help-trumps-golden-dome-detect-missiles-over-1200-miles-report">benefits emerging defense technology</a> companies competing for Pentagon contracts alongside traditional prime contractors.



Trump&#8217;s Golden Dome missile defense initiative, estimated to cost over $175 billion, receives initial funding through a separate $150 billion defense package. The program has attracted interest from non-traditional defense players, including SpaceX, Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>), and artificial intelligence <a href="https://www.benzinga.com/news/space/25/06/46090791/us-tests-radar-that-could-help-trumps-golden-dome-detect-missiles-over-1200-miles-report">companies seeking to disrupt</a> the established contractor base.



The budget includes a 3.8% military pay raise while retiring aging platforms to reduce operational costs, according to the report. 



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



Photo courtesy: Joey Sussman / Shutterstock.com

Politics

PLTR

Trump's Defense Budget Shifts Focus To Missiles, Drones: F-35 Orders Cut By 31%

U.S. futures rose on Thursday after a mixed close on Wednesday. Futures of major benchmark indices were trading higher.



During his testimony to Congress, Federal Reserve Chair Jerome Powell signaled slower growth and hotter inflation after the central bank left interest rates unchanged.



President Donald Trump, who has been pushing the Fed to cut rates, said that he could announce Powell&#8217;s successor by September, whose term ends later in May 2026, <a href="https://www.wsj.com/economy/central-banking/trump-next-federal-reserve-chair-powell-d3edcb9c?mod=hp_lead_pos1">reported</a> the Wall Street Journal. 



The 10-year Treasury bond yielded 4.28% and the two-year bond was at 3.76%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections show markets pricing a 75.2% 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>0.20%</td></tr><tr><td>S&amp;P 500</td><td>0.26%</td></tr><tr><td>Nasdaq 100</td><td>0.40%</td></tr><tr><td>Russell 2000</td><td>0.12%</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 Thursday. The SPY was up 0.28% at $608.84, while the QQQ advanced 0.41% to $543.36, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From Last Session:



Information technology and communication services stocks bucked the overall market trend, closing higher on Wednesday, while most sectors on the S&amp;P 500 closed on a negative note, with real estate, consumer staples, and utilities recording the biggest losses.



At a NATO meeting in the Netherlands, President Trump stated that a ceasefire between Israel and Iran remains in effect, and the United States will persist in pressuring Tehran. He clarified that while sanctions are still in place, Iran is presently permitted to sell oil to China.



Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) spearheaded chipmaker gains, increasing 3.6% and reaching its highest level since early December 2024. Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) shares also surged 4.3% on Wednesday.



On the economic front, U.S. sales of new single-family homes decreased by 13.7% from the previous month, reaching an annualized rate of 623,000 units in May. U.S. building permits declined by 2% to an annualized rate of 1.394 million in May.



The Dow Jones index ended 507 points or 0.25% lower at 42,982.43, whereas the S&amp;P 500 index fell 0.0003% to 6,092.16. Nasdaq Composite advanced 0.31% to 19,973.55, and the small-cap gauge, Russell 2000, tumbled 1.16% to end at 2,136.18.



<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>0.31%</td><td>19,973.55</td></tr><tr><td>S&amp;P 500</td><td>-0.00033%</td><td>6,092.16</td></tr><tr><td>Dow Jones</td><td>-0.25%</td><td>42,982.43</td></tr><tr><td>Russell 2000</td><td>-1.16%</td><td>2,136.18</td></tr></tbody></table></figure>



Insights From Analysts:



Liz Ann Sonders, the chief investment strategist at Schwab, said that the Middle East remains unstable, but maybe not as unstable as it looked a few days ago, so the market shook off the fear and rose.



&#8220;There was a spike in oil and concerns over the weekend and what futures signaled Sunday night, but things aren&#8217;t as bad as expected, and we&#8217;re not seeing escalation, so markets rallied.&#8221;



Talking about international equities, Brock Weimer, an investment strategist at Edward Jones, said that &#8220;We believe the more compelling opportunity lies in U.S. equities over the next one to three years. As part of our opportunistic asset-allocation guidance, we recommend a slight underweight to international developed equities in favor of U.S. stocks.&#8221;



Meanwhile, Louis Navellier commented on Powell&#8217;s Congress testimony and said, &#8220;So, despite the fact that three other Fed members are now signaling a July key interest rate cut, Chairman Powell remains a hawk and continues to ignore favorable inflation data as well as lower Treasury yields.&#8221;



&#8220;The Fed has been anticipating an inflation &#8216;bogeyman&#8217; that has not materialized. Central banks around the world continue to cut key interest rates. Deflation is becoming increasingly common around the world, especially in China,&#8221; Navellier said.



Talking about the U.S. dollar, he said he expects the U.S. dollar to &#8220;firm up&#8221; due to;



(1) higher interest rates compared to the rest of the world, (2) stronger economic growth, and (3) military might.



&#8220;A strong U.S. dollar is also naturally deflationary, since commodities are priced in U.S. dollars,&#8221; he added.



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



Upcoming Economic Data



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



<ul class="wp-block-list">
<li>May&#8217;s advanced U.S. trade balance in goods, retail inventories, and wholesale inventories, along with the initial jobless claims data for the week ended June 21, will be released by 8:30 a.m. ET.</li>



<li>May&#8217;s headline and core durable-goods orders and second revision for the first quarter GDP will also be released at 8:30 a.m. ET.</li>



<li>Cleveland Fed President Beth Hammack will speak at 9:00 a.m., and pending home sales for May will be out by 10:00 a.m. ET.</li>
</ul>



Stocks In Focus:



<ul class="wp-block-list">
<li>Walgreens Boots Alliance Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>) was up 0.27% in premarket on Thursday as analysts expect it to report quarterly earnings of 34 cents per share on revenue of $36.84 billion, before the opening bell.</li>



<li>Acuity Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AYI#NYSE">AYI</a>) advanced 1.35% as analysts expect it to report quarterly earnings of $4.43 per share on revenue of $1.15 billion, before the opening bell.</li>



<li>Nike Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) was 0.74% higher as analysts expect it to report quarterly earnings of 13 cents per share on revenue of $10.72 billion after the closing bell.</li>



<li>McCormick &amp; Company Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MKC#NYSE">MKC</a>) rose 0.84% as analysts expect it to report quarterly earnings of 65 cents per share on revenue of $1.66 billion, before the opening bell.</li>



<li>Worthington Steel Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WS#NYSE">WS</a>) jumped 16.15% after reporting stronger-than-expected financial results for the fourth quarter. The company reported quarterly earnings of $1.05 per share, which beat the analyst consensus estimate of 82 cents per share.</li>



<li>Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) was up 2.18% after reporting better-than-expected financial results for the third quarter after the market closed on Wednesday. The company said it expects fourth-quarter revenue of $10.7 billion, plus or minus $300 million, versus estimates of $9.88 billion.</li>



<li>Bumble Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMBL#NASDAQ">BMBL</a>) gained 0.61% after announcing 30% of job cuts and restructuring plans.</li>



<li>Bit Digital Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTBT#NASDAQ">BTBT</a>) tumbled 3.83% commenced an underwritten public offering of its ordinary shares, with all shares being offered by the company.</li>
</ul>



Commodities, Gold, And Global Equity Markets:



Crude oil futures were trading higher in the early New York session by 0.15% to hover around $65.02 per barrel.



Gold Spot US Dollar rose 0.29% to hover around $3,341.87 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 Thursday, 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 advanced. European markets were mostly higher in early trade.



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Photo courtesy: godongphoto / Shutterstock.com

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Nippon Steel Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NPSCY#OTC">NPSCY</a>) completed its acquisition of United States Steel Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>), with President Donald Trump securing unprecedented &#8220;golden share&#8221; powers that grant the U.S. government veto authority over key corporate decisions.



What Happened: The $14 billion transaction transforms U.S. Steel into a wholly owned subsidiary of Nippon Steel North America, according to U.S. Securities and Exchange Commission filings. U.S. Steel shares ceased trading on the New York Stock Exchange last week, with delisting effective June 30.



Trump&#8217;s approval came through a National Security Agreement signed June 13 between the companies and the U.S. Treasury and Commerce departments. 



The golden share mechanism gives the current president veto power over U.S. Steel&#8217;s name changes, headquarters relocation from Pittsburgh, production shifts overseas, facility closures, and material acquisitions of competing U.S. businesses.



The structure ensures future presidents will inherit these oversight powers, creating permanent government influence over the iconic steelmaker&#8217;s strategic decisions. According <a href="https://www.cnbc.com/2025/06/18/us-steel-ceases-trading-on-the-nyse-as-japans-nippon-finalizes-takeover.html">to</a> CNBC, under the NSA terms, U.S. Steel&#8217;s board majority and CEO must remain U.S. citizens, while the company stays incorporated domestically.



See Also: <a href="https://www.benzinga.com/markets/tech/25/06/46107638/mark-zuckerbergs-meta-beats-lawsuit-over-ai-training-on-books-judge-finds-no-meaningful-evidence-on-market-dilution">Mark Zuckerberg&#8217;s Meta Beats Lawsuit Over AI Training On Books, Judge Finds &#8216;No Meaningful Evidence On Market Dilution&#8217;</a>



Why It Matters: Nippon Steel committed $11 billion in U.S. investments by 2028, including $1 billion for a new greenfield facility. The companies pledged to protect over 100,000 jobs while <a href="https://www.benzinga.com/trading-ideas/movers/25/06/45961309/us-steel-stock-soars-as-nippon-steel-partnership-gets-green-light-from-white-house">maintaining domestic production capacity</a>.



The deal reverses Biden administration opposition, which blocked the acquisition in January, citing national security concerns. Trump initially opposed the takeover during his 2024 campaign but ordered a fresh review after taking office in January.



U.S. Steel stock <a href="https://www.benzinga.com/trading-ideas/movers/25/06/45961309/us-steel-stock-soars-as-nippon-steel-partnership-gets-green-light-from-white-house">surged 5.10% to $54.85 on approval news</a>, with trading volume exceeding 14 million shares compared to the 100-day average of 8.55 million shares. The company&#8217;s shares reached $54.97 before the trading suspension.



The transaction required <a href="https://www.benzinga.com/m-a/25/06/45960965/us-steel-stock-rallies-after-trump-approves-nippon-steel-deal">multiple regulatory clearances</a>, including the Department of Justice antitrust review. Trump simultaneously doubled steel import tariffs to 50% to protect domestic production while approving the foreign acquisition.



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



Photo courtesy: T. Schneider / Shutterstock.com

NPSCY

Trump Gets 'Golden Share' In $14 Billion US Steel Deal, But Control Shifts To Federal Agencies Under Future Presidents

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