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



U.S. stocks settled higher on Wednesday, with the Dow Jones index gaining more than 200 points during the session as investors shrugged off fresh trade uncertainty after the White House delayed the start of new tariffs to Aug. 1, raising hopes for new rounds of negotiations.



Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) grabbed headlines once again, with its market capitalization hitting $4 trillion, solidifying its lead as the world&#8217;s most valuable company. According to the Financial Times, Nvidia is planning to launch a new AI chip designed specifically for China as soon as September.



On the economic data front, U.S. wholesale inventories declined by 0.3% month-over-month to $905.5 billion in May in line with the preliminary estimate and compared to a 0.1% increase in the previous month.



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



The Dow Jones closed higher by 218 points to 44,458.30 on Wednesday. The S&amp;P 500 rose 0.61% to 6,263.26, while the Nasdaq Composite gained 0.94% to 20,611.34 during Wednesday's session.



Investors are awaiting earnings results from Conagra Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>), Delta Air Lines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) and Helen of Troy Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HELE#NASDAQ">HELE</a>) today.



What is CNN Business Fear &amp; Greed Index?



At a current reading of 75, the index moved to the &#8220;Extreme Greed&#8221; zone on Wednesday, versus a prior reading of 74.



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



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/07/46316741/top-3-risk-off-stocks-that-may-rocket-higher-in-q3">Top 3 Risk Off Stocks That May Rocket Higher In Q3</a> </li>
</ul>



Photo courtesy: Shutterstock

Pre-Market Outlook

HELE

NVDA

S&P 500 Surges Amid Rise In Nvidia Shares: Investor Sentiment Improves, Fear & Greed Index Moves To 'Extreme Greed' Zone

Leading cryptocurrencies rallied on Wednesday&nbsp;on soaring institutional interest, Nvidia Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) $4 trillion push.



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 9:05 p.m. ET)</th></tr></thead><tbody><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>+1.83%</td><td>$110,964.87</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>+5.53%</td><td>$2,758.68</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>+4.84%</td><td>$0.1790</td></tr></tbody></table></figure>



What Happened: Bitcoin hit a new all-time high above $112,000 late afternoon before easing to the early $111,000s overnight. The apex cryptocurrency's trading volume rose by over 38% in the last 24 hours.



Institutional appetite grew, with Bitcoin exchange-traded funds recording more than $75 million in net inflows as of July 9, <a href="https://sosovalue.com/assets/etf/Total_Crypto_Spot_ETF_Fund_Flow?page=usBTC">according </a>to SoSo Value.



Ethereum, the second-largest cryptocurrency, raced to an intraday high of $2,794, with trading volume surging by 68%.



The rally wiped out nearly $448 million in bearish shorts over the last 24 hours.



Bitcoin's open interest jumped 6.46% in the last 24 hours, signaling high speculative interest in the leading digital asset.&nbsp;



The "Greed" sentiment strengthened in the market, 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 9:05 p.m. ET)</th></tr></thead><tbody><tr><td>dogwifhat (WIF)</td><td>+12.08%</td><td>$0.9453</td></tr><tr><td>SPX6900 (SPX)&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+10.98%</td><td>$1.51</td></tr><tr><td>Stellar (XLM)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+9.95%</td><td>$0.2858 </td></tr></tbody></table></figure>



The global cryptocurrency market capitalization surged to $3.46 trillion, following a 2.58% jump in the last 24 hours.



Stocks rallied on Wednesday. The Dow Jones Industrial Average spiked 217.54 points, or 0.49%, to end at 44,458.30. The S&amp;P 500 rose 0.61% to end at 6,263.26. The tech-heavy Nasdaq Composite climbed 0.95% to close at a record high of 20,611.34.



Artificial intelligence darling Nvidia spurred the rally, closing 1.77% higher and <a href="https://www.benzinga.com/trading-ideas/movers/25/07/46321541/nvidia-hits-4-trillion-market-cap-stock-surges-to-all-time-high">exceeding the historic $4 trillion market capitalization milestone</a>.



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



Analyst Notes: Blockchain analytics firm Santiment stated that Bitcoin's breakout followed panic selling by retailers who were dropping out due to "boredom or disbelief."



"History has shown that this is a prime sign of a potential breakout, as crypto markets typically move the opposite direction of the crowd&#8217;s expectations," Santiment remarked.



<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">&#x1f973; Bitcoin has officially made a new all-time high, achieving a market value of $112,152 just 30 minutes ago. Unsurprisingly, many retailers had been dropping out due to boredom or disbelief over the past few days. &#x1f433; History has shown that this is a prime sign of a potential… <a href="https://t.co/r1IQWqZcG3">pic.twitter.com/r1IQWqZcG3</a>&mdash; Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1943043967903224239?ref_src=twsrc%5Etfw">July 9, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Seasoned trader Peter Brandt spotted an expanding inverted triangle pattern in Bitcoin's daily price movement, suggesting a higher risk of "mortality" or pattern failure.



An inverted triangle pattern, or descending triangle, is a bearish chart formation characterized by a horizontal support line and a descending resistance line.



"Nevertheless, I am long BTC. A decline below $107,000 would suggest morphology," he added.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">There is nothing special about this chart. An expanding inverted triangle has a higher rate of morphing or mortality than a pattern such a horizontal pennant. Nevertheless I am long BTC. A decline below 107000 would suggest morphology <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://t.co/TsfmT4mQud">pic.twitter.com/TsfmT4mQud</a>&mdash; Peter Brandt (@PeterLBrandt) <a href="https://twitter.com/PeterLBrandt/status/1943085280363209130?ref_src=twsrc%5Etfw">July 9, 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/25/07/46317095/bitcoin-miners-rake-in-55k-daily-despite-heat-driven-hashrate-dip-heres-their-secret">Bitcoin Miners Rake In $55K Daily Despite Heat-Driven Hashrate Dip — Here&#8217;s Their Secret</a></li>
</ul>



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

Markets

$BTC

$DOGE

$ETH

Bitcoin Breaks $112,000, Ethereum, Dogecoin Surge Amid Growing Institutional Interest, Nvidia-Driven Tech Rally: Experienced Trader Peter Brandt Says, 'I Am Long BTC'

Tensions are flaring between the United States and Brazil following President Donald Trump&#8217;s threats of sweeping 50% tariffs on imports from the South American nation. 



What Happened: On Wednesday, Trump wrote a letter telling Brazilian President Luiz Inácio Lula da Silva that the trial of former President Jair Bolsonaro was &#8220;a Witch Hunt that should end IMMEDIATELY,&#8221; while accusing the nation of &#8220;insidious attacks on Free Elections,&#8221; which prompted the punitive trade measure. 



The letter further accused Brazil's Supreme Court of issuing &#8220;hundreds of SECRET and UNLAWFUL Censorship Orders to U.S. Social Media platforms,&#8221; threatening free speech and violating trade norms.



See Also: <a href="https://www.benzinga.com/news/politics/25/07/46313013/trumps-tariff-letters-spark-high-level-of-uncertainity-and-volatility-says-economist-mohamed-el-erian">Trump&#8217;s Tariff Letters Spark &#8216;High Level Of Uncertainity And Volatility,&#8217; Says Economist Mohamed El-Erian</a>



Trump also argues that Brazil's trade practices have resulted in &#8220;unsustainable Trade Deficits against the United States,&#8221; calling it a major threat to the economy, as well as national security.



As a result, Trump says in the letter that, effective August 1, all Brazilian goods would face a 50% tariff, with additional duties on goods routed through third countries. He also ordered the U.S. Trade Representative to launch a Section 301 investigation into Brazil's digital trade practices and market access barriers.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="680" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/09214231/Screenshot-2025-07-10-at-7.12.17-AM-1024x680.png" alt="" class="wp-image-979115" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/09214231/Screenshot-2025-07-10-at-7.12.17-AM-1024x680.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/09214231/Screenshot-2025-07-10-at-7.12.17-AM-300x199.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/09214231/Screenshot-2025-07-10-at-7.12.17-AM-768x510.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/09214231/Screenshot-2025-07-10-at-7.12.17-AM.png 1186w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



Screenshot from Donald Trump&#8217;s Truth Social Account



Lula has since pushed back, stating that his country &#8220;will not accept any form of tutelage&#8221; and defended the ongoing legal proceedings against Bolsonaro as a matter of judicial sovereignty.



Defending Brazil's regulatory actions, Lula says that &#8220;Brazilian society rejects hateful content, racism, child pornography, scams, fraud, and speeches against human rights and democratic freedom.&#8221; He also adds that &#8220;freedom of expression must not be confused with aggression or violent practices.&#8221;



He also challenged Trump&#8217;s claims on trade, stating that &#8220;Statistics from the U.S. government itself show a surplus of $410 billion in the trade of goods and services with Brazil over the past 15 years.&#8221; He says, any unilateral tariff hikes &#8220;will be addressed in accordance with Brazil's Economic Reciprocity Law.&#8221;



Lula concluded by establishing &#8220;sovereignty, respect, and the unwavering defense of the interests of the Brazilian people&#8221; as what guides his nation&#8217;s relationship with the world.



<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">In light of the public statement made by U.S. President Donald Trump on social media on the afternoon of Wednesday (9), it is important to highlight the following: Brazil is a sovereign nation with independent institutions and will not accept any form of tutelage. The judicial…&mdash; Lula (@LulaOficial) <a href="https://twitter.com/LulaOficial/status/1943094466903957505?ref_src=twsrc%5Etfw">July 9, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Why It Matters: This comes just days after Trump threatened an &#8220;additional 10% tariff&#8221; on any country <a href="https://www.benzinga.com/news/politics/25/07/46267477/trump-threatens-10-additional-tariff-on-all-brics-aligned-nations-says-tariff-letters-drop-at-noon-monday">that aligns itself</a> with the BRICS, an intergovernmental organization of which Brazil is one of the founding members. 



Former Trump ally, Elon Musk and his social media platform, X, have repeatedly tangled with Brazil&#8217;s top court in recent years. Last year, a judge called for an <a href="https://www.benzinga.com/news/24/08/40664929/brazil-judge-bans-x-after-months-long-feud-threatens-fines-of-nearly-9k-per-day-on-users-who-try-to">outright ban on X</a>, threatening daily fines for anyone who tried to circumvent the order.



The court then gave Musk 24 hours to <a href="https://www.benzinga.com/news/24/08/40623911/brazilian-supreme-court-tells-elon-musk-to-appoint-legal-representative-for-x-in-24-hours-or-face-su">appoint a legal representative</a> in Brazil or face a nationwide suspension of X, following the latter&#8217;s defiance of an earlier court order. 



Early this year, X was <a href="https://www.benzinga.com/media/25/02/43872696/elon-musks-x-hit-with-1-42-million-fine-from-brazil-judge-he-once-labeled-dictator">hit by a $1.42 million fine</a> by the nation&#8217;s Supreme Court for not complying with judicial orders, by Justice&nbsp;Alexandre de Moraes, who Musk had labelled a &#8220;dictator.&#8221;



Photo Courtesy: Joey Sussman on Shutterstock.com



Read More: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/07/46267477/trump-threatens-10-additional-tariff-on-all-brics-aligned-nations-says-tariff-letters-drop-at-noon-monday">Copper Rallies To Record Highs After Trump&#8217;s 50% Tariff Bombshell: What&#8217;s Moving Markets Tuesday?</a></li>
</ul>

Government

Latin America

Macro Economic Events

News

Politics

Global

Economics

Trump Sends Lula A Letter Imposing 50% Tariffs, Calls Bolsonaro Trial A 'Witch Hunt' — Brazil's President Hits Back: 'Will Not Accept Any Form Of Tutelage'

On Wednesday, the Cathie Wood-led Ark Invest made a significant move by purchasing a substantial number of shares in Tempus AI Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEM#NASDAQ">TEM</a>) and selling shares of Block Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XYZ#NYSE">XYZ</a>). The trades were executed through the ARKG and ARKK ETFs.



The Tempus AI Trade saw Ark Invest acquiring a combined total of 150,563 shares of Tempus across ARK Genomic Revolution ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKG#BATS">ARKG</a>) and ARK Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#BATS">ARKK</a>). The ARKG ETF added 19,582 shares, while the ARKK ETF purchased 130,981 shares. Tempus AI&#8217;s first-quarter financial results were impressive; the company reported revenue of $255.74 million, surpassing the estimated $248.13 million figure. Additionally, Tempus AI&#8217;s adjusted loss per share was narrower than expected, signaling a positive outlook for the AI-focused precision medicine company. The total value of the shares acquired by Ark Invest is $8.8 million based on the stock&#8217;s closing price of $58.41 on Wednesday.



The Block Trade involved Ark Invest selling 96,503 shares of the Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)-focused company through its ARKK ETF. The trade was valued at $6.6 million. Block shares ended the day at $69.01. Notably, Bitcoin, the apex cryptocurrency, hovered near all-time highs of $111,148.02 at the time of writing.



This decision comes amid recent developments at Block, where CEO Jack Dorsey unveiled a <a href="https://www.benzinga.com/markets/tech/25/07/46272105/jack-dorsey-unveils-bitchat-a-decentralized-bluetooth-powered-server-free-messaging-service">new decentralized messaging service</a> called Bitchat. The service, which operates over Bluetooth, represents Block&#8217;s ongoing efforts to innovate and expand its technological offerings.



Other Key Trades:



<ul class="wp-block-list">
<li>Sold 5,627 shares of Veeva Systems Inc (VEEV) through the ARKG ETF.</li>



<li>Sold 50,823 shares of Roku Inc (ROKU) through the ARKK ETF.</li>
</ul>



Read Next: 



<ul class="wp-block-list">
<li><a href="https://benzinga.com/markets/macro-economic-events/25/07/46312778/scott-bessent-never-made-time-for-japans-trade-negotiator-says-economist-yet-the-us" target="_blank" rel="noreferrer noopener">Scott Bessent Never &#8216;Made Time&#8217; For Japan&#8217;s Trade Negotiator, Says Economist, Yet The US Ally Got Hit With Trump Tariffs — How Should Tokyo Make Sense Of This?</a></li>
</ul>



Photo Courtesy: ChrisStock82 on Shutterstock.com



This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Equities

ETFs

ARKG

ARKK

Cathie Wood Dumps Jack Dorsey's Block As Bitcoin Flirts With All-Time Highs, Bets $8.8 million On Tempus AI

Wall Street's biggest banks have rallied hard in 2025, outpacing the S&amp;P 500 with an average 18% year-to-date gain, but as second-quarter earnings roll in starting July 15, analysts warn the easy gain may <a href="https://www.benzinga.com/markets">already be priced in.</a>



In a note shared Wednesday, Bank of America analyst Ebrahim H. Poonawala said this earnings season may represent a &#8220;breather&#8221; for the group.



While structural tailwinds remain strong, especially for names like Citigroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>) and Wells Fargo &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), the absence of fresh catalysts in the second half could slow the pace of gains unless earnings surprises deliver.



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><thead><tr><th>Bank</th><th>YTD return as of July 9, 2025</th></tr></thead><tbody><tr><td>The Goldman Sachs Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) </td><td>22.94%</td></tr><tr><td>Citigroup Inc.</td><td>22.4%</td></tr><tr><td>Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>)</td><td>13.84</td></tr><tr><td>Wells Fargo &amp; Company</td><td>17.44</td></tr><tr><td>JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>)</td><td>19.86</td></tr><tr><td>Bank of America Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>)</td><td>7.83</td></tr></tbody></table></figure>



<h3 class="wp-block-heading">JPMorgan Sets The Bar—But It's Already High</h3>



According to Poonawala, JPMorgan is expected to post earnings per share of $4.48 for the second quarter, slightly above consensus.



 Net interest income is expected at $11.96 billion, up 3.4% quarter over quarter, with FY25 guidance revised higher to $95.2 billion. 



CFO Jeremy Barnum said 2025 net interest income might "end up a little better, maybe by $1 billion," reflecting fewer expected Fed cuts. But with JPMorgan stock already up sharply by 19% year to date, the market is wondering if the near-term upside is limited.



<h3 class="wp-block-heading">Citi And Wells Fargo: Underdogs With Upside?</h3>



Citigroup could be one of the most interesting stories this quarter. While its second-quarter EPS estimate was trimmed to $1.62 by Bank of America, focus will be on whether its multi-year restructuring plan is finally bearing fruit.



Citigroup's trading revenues, adjusted for a $400 million gain from the sale of Visa shares, are expected to grow more than 17% year over year. The bank reaffirmed full-year revenue guidance of $83.1 billion to $84.1 billion.



Wells Fargo &amp; Co. is entering its first full quarter without the Fed-imposed asset cap. Second-quarter EPS is estimated at $1.42, with full-year net interest income projected at $48.5 billion, representing 1.1% year-over-year growth.



<h3 class="wp-block-heading">Capital Markets Slowdown A Drag On Morgan Stanley, Goldman Sachs?</h3>



Morgan Stanley and Goldman Sachs face tougher comps. Morgan Stanley's second-quarter EPS was cut to $1.96 due to higher provisions and lower net interest income. Still, the bank is seen as stable, supported by strong equity trading and its high-performing wealth management arm, which contributes around 40% of earnings.



Goldman Sachs, on the other hand, is forecast to post an EPS of $9.74, slightly above the consensus.



Strength in trading (+7% YoY) and improving M&amp;A activity are offsetting weaker asset management results. The bank has a $40 billion buyback program and increased dividends to $4.00 per share, reflecting confidence in future performance.



<h3 class="wp-block-heading">BNY Mellon and Northern Trust: M&amp;A Buzz Builds</h3>



M&amp;A chatter is swirling around The Bank of New York Mellon Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) and Northern Trust Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTRS#NASDAQ">NTRS</a>). BNY's Q2 EPS was raised to $1.80, as deposit strength lifts full-year NII growth to 6.8% year over year. 



Northern Trust is expected to deliver $2.08 in second-quarter EPS, driven by a strong wealth management business (accounting for 50% of profits) and deposit inflows.



Read Next:



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<li><a href="https://www.benzinga.com/markets/emerging-markets/25/07/46306953/emerging-markets-etfs-inflows-iemg-vwo-2025">Wall Street Is On Fire—So Why Is This Wall Of Cash Moving Abroad? </a></li>
</ul>



Image created using artificial intelligence via Midjourney.

Analyst Color

Earnings

Large Cap

Analyst Ratings

NTRS

Big Bank Stocks Soared In 2025—But This Earnings Season Could Shake Things Up

Wall Street rose on Wednesday as investors shrugged off fresh trade uncertainty after the White House delayed the start of new tariffs to Aug. 1, raising hopes for <a href="https://www.benzinga.com/topic/tariffs">new rounds of negotiations.</a>



This came just a day after President Donald Trump floated sweeping tariffs, including a 50% tariff on copper and a potential 200% tariff on pharmaceuticals, though the latter may include a grace period.



The Russell 2000 led the charge, rising 0.7% to 2,244, as small-cap stocks continued to rebound. 



The Nasdaq 100 gained 0.5%, climbing to 22,815, supported by strength in megacap tech names. Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) grabbed headlines once again, with its market capitalization hitting $4 trillion, solidifying its lead as the world's most valuable company. According to the <a href="https://www.ft.com/content/e496f80f-1789-46b3-9275-a3f54344047e">Financial Times</a>, Nvidia is planning to launch a new AI chip designed specifically for China as soon as September. 



The S&amp;P 500 added 0.4%, trading at 6,250, while the Dow Jones Industrial Average inched 0.3% higher. 



Sector performance was mixed, with utilities outperforming while consumer staples lagged.



In the bond market, Treasury yields fell 5 basis points ahead of a key 10-year auction later in the day. The U.S. dollar index held steady, ahead of the Federal Reserve's minutes from the June FOMC meeting, released on Wednesday afternoon.



Oil prices climbed for a third consecutive session, rising to $69 per barrel, while gold held flat at $3,325. In crypto, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) advanced 0.9% to $109,235, trading just 2.5% below its all-time highs set in May.



<h2 class="wp-block-heading">Wednesday&#8217;s Performance In Major US Indices, ETFs</h2>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Major Indices </td><td>Price</td><td>1-day %</td></tr><tr><td>Russell 2000</td><td>2,244.10</td><td>0.7%</td></tr><tr><td>Nasdaq 100</td><td>22,815.57</td><td>0.5%</td></tr><tr><td>S&amp;P 500</td><td>6,250.79</td><td>0.4%</td></tr><tr><td>Dow Jones</td><td>44,388.59</td><td>0.3%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 1:20 p.m. ET </figcaption></figure>



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



<ul class="wp-block-list">
<li>The&nbsp;Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) rose 0.4% to $572.28.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) inched 0.3% higher to $443.81.</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;rose 0.4% to $554.81.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.7% to $222.70.</li>



<li>The&nbsp;Utilities&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) outperformed, up 0.8%; the&nbsp;Consumer Staples&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) lagged, down 1%.</li>
</ul>



<h2 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h2>



<ul class="wp-block-list">
<li>Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) climbed nearly 5% after delivering 60 aircraft in June, a 27% increase from a year ago. The monthly total included sales to Chinese customers, appearing for the first time in months—a potential sign of recovery for the planemaker.</li>



<li>AES Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AES#NYSE">AES</a>) jumped 17% following a Bloomberg report that the renewable energy company is considering strategic alternatives, including a potential sale, as large investment firms express interest in a takeover.</li>



<li>Verona Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRNA#NASDAQ">VRNA</a>) soared 21% to $104.80 after Merck &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>) announced a $10 billion deal to acquire the biotech firm, which specializes in treatments for lung diseases.</li>
</ul>



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46314139/polymarket-bettors-see-50-chance-of-fed-september-rate-cuts-as-trump-turns-up-heat-on-powell">Polymarket Bettors See 50% Chance Of Fed September Rate Cuts As Trump Turns Up Heat On Powell </a></li>
</ul>



Photo: Shutterstock

Regulations

Broad U.S. Equity ETFs

Federal Reserve

Tech

VRNA

Nvidia's $4 Trillion Milestone Lifts Wall Street: What's Moving Markets Wednesday?

In just the first few days of July, we've seen more market-shaking headlines than we usually get over the span of a full quarter. Congress <a href="https://www.benzinga.com/news/politics/25/07/46255065/trumps-3-3-trillion-bill-passes-will-vulnerable-americans-pay-the-price">officially passed</a> President Trump's ‘Big Beautiful Bill' last week. In response, Elon Musk <a href="https://www.benzinga.com/news/politics/25/07/46265725/elon-musk-announces-formation-of-america-party-emerges-in-wake-of-donald-trumps-historic-spending-bill" target="_blank" rel="noopener">launched</a> a new third political party and Trump pushed the expiration of the 90-day tariff freeze to August 1, while announcing a slew of new tariffs.



Meanwhile, gold hit three all-time highs (a triple top), oil is up around 35% from its year-to-date low of $62, and Bitcoin is inching toward new record highs after closing the week at $109,000. 



So today, I want to break down the biggest moves in the market – including a "wildcard" no one's talking about – and why they matter.



<h2 class="wp-block-heading">Trade This Week's Market Volatility Like A Former Hedge Fund Pro</h2>



Markets are spiking and geopolitical tension is rising, but Chris Capre's Trading Waves system thrives in moments like this. His recent trades hit +87.5% on PANW, +66% on NVDA, and +115% on SOXL using this fast-moving, volatility-focused strategy. Get full access FREE <a href="https://www.benzinga.com/premium/ideas/7-day-free-trial-chris-capre-trading-waves/?utm_campaign=7daytrial&amp;utm_adType=sponsorad&amp;utm_ad=RDweb070925">HERE</a> for 7 days and see how to trade this week's market.



<h2 class="wp-block-heading">Politics, Tariffs And A Fresh Round Of Market Volatility</h2>



President Trump signed his ‘Big Beautiful Bill' (officially called the "One Big Beautiful Bill Act") into law on Friday during a White House Independence Day celebration. It wasn't a surprise, of course – he said he wanted to do just that. What really grabbed attention, though, was the tariff twist. Remember that 90-day freeze on tariffs is set to expire this Thursday? That's been pushed back to August 1 as the administration continues to work on deals.



The markets took the news in stride, at least at first. Stocks opened higher, with tech leading the charge; bond yields dipped as traders priced in the idea that Trump might kick the can down the road again. But don't be fooled, volatility's still in the air because this delay doesn't erase the threat – it just pushes it further out.



And that's not all. 



Elon Musk, who's been one of the loudest critics of Trump's budget bill, filed to launch his own political party, &#8220;America First,&#8221; in response to its passage. Add this to the mix of trade wars and political threats, and the markets are having to price in a fresh round of uncertainty. We saw that on Monday when the Dow dropped more than 300 points to start the day.



<h2 class="wp-block-heading">Gold's Seasonal Slide And Oil's Short-Lived Momentum</h2>



SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) hit all-time highs in April, May and June &#8211; a textbook triple top. Now it's started to back off a bit, sitting around 305 as I'm writing. But the trend still looks solid.



We've got a nice gap between the 50- and 200-day moving averages (MAs), so momentum's still there for now. That said, gold tends to trade lower in August. Additionally, volatility has been declining since its last peak, which suggests to me that gold may be losing momentum in a matter of weeks.



Meanwhile, nature's black gold (oil) is surging right now. We've gone from year-to-date (YTD) lows of $62 to YTD highs of around $84. That's a huge move, but there are signs that it's running out of gas. Prices have already pulled back a little, and the seasonal pattern that's been fueling this rally is about to end.



In fact, I wouldn't be surprised to see oil completely lose steam – even roll over – by next Friday. So, if you're looking to make a move, keep in mind that the window's closing fast.



<h2 class="wp-block-heading">Tech's Rebound Watchlist And The Mag 7's Turning Point</h2>



The Magnificent (MAG) 7 stocks – Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) – are showing signs of a rebound.



A great example of this is the Roundhill Magnificent Seven ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#BATS">MAGS</a>), which has just posted a textbook V-shaped recovery, bouncing off its April low of around $39 and climbing back toward its January high of nearly $56.50. Even better? Its chart just showed a bullish golden cross, where the 50-day MA crossed above the 200-day MA &#8211; a strong indication that momentum could be turning.



Now, MAGs are still trailing behind the S&amp;P and Dow – it's the caboose. But if this rally keeps rolling, MAGs could catch up fast, possibly even leapfrogging them to the front of the train. And if the biggest names in tech start firing again, it's a signal the broader market could be setting up for another breakout.



<h2 class="wp-block-heading">Tesla's Uncertainty Factor And The Risk Beneath The Rally</h2>



The real wildcard of the markets right now? Tesla.



We've seen the stock hit YTD highs near $426 earlier this year, then tank below $221 and then bounce again. This hasn't happened once or twice – it's happened multiple times. At the moment, it's sitting around $295, but a new tweet by Musk could change that in a heartbeat.



Seasonality isn't giving us much to work with right now, either. There's no bullish or bearish edge we can lean on for July or August. Although we saw a bullish crossover recently, I'm not convinced it will hold, given the constant chaos surrounding the stock.



Volatility is low, Fibonacci levels are signaling a bearish trend, and the overall trend is sideways.



But the unknown factor here is Elon himself. His move to launch a third political party is doing more than just rattling headlines – it's stirring sentiment. Shareholders didn't sign up for this kind of drama or political spotlight. And with what seems to be bridges burned on both sides of the aisle, Tesla's getting dragged even deeper into the mess.



That kind of risk is exactly why Tesla is such a wild card in this market. If it breaks lower, it could drag the rest of the Mag 7 with it. And if it stabilizes, it might be the last piece needed for tech to start firing on all cylinders again.



Ultimately, we're looking at the perfect storm of uncertainty and opportunity right now. So, while the headlines can be distracting, remember that the charts and the patterns are where the real story is told.



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



Photo: Shutterstock

Opinion

Trading Ideas

AAPL

AMZN

GOOG

MAGS

MSFT

TSLA

3 Big Surprises Just Hit The Markets – Here's How I'm Trading Them

While President Donald Trump ramps up his global tariff campaign, sending warning letters to 14 countries, the U.S. junk bond market is behaving as if <a href="https://www.benzinga.com/markets/bonds">none of it matters.</a>



High-yield credit spreads—a closely watched barometer of risk in lower-quality corporate debt—have dropped to 286 basis points over comparable Treasuries, near year-to-date lows. 



That's a sharp retreat from early April, when spreads blew out to over 460 basis points in response to Trump's initial tariff salvo.



Despite new threats targeting key trading partners, credit investors appear convinced that the U.S. economy will weather the trade storm. 



Yet, the composure of high-yield spreads may be dangerously misleading. When credit markets fail to price in macro risks, they create stress no one sees until it&#8217;s too late—and that&#8217;s the time bomb. Should trade tensions lead to macroeconomic turbulence, junk debt could reprice abruptly and violently, sending shockwaves across the whole financial system and fueling the threat of a broader crisis.



&#8220;On the surface, the credit markets appear calm.&nbsp;Credit spreads are low, the demand for these bonds is healthy and default rates overall remain relatively low. Under the hood, however, some stress signals are starting to show,&#8221; said analyst Michael Gayed, CFA in an email comment. 



&#8220;The extra&nbsp;yield&nbsp;investors demand above and beyond the risk-free rate, go back to pre-Liberation Day levels,&#8221; he added.



Chart: Junk Bond Spread Has Completely Wiped Out Tariff-Related Risks



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="529" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/09112306/image-73-1-1024x529.png" alt="" class="wp-image-978631" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/09112306/image-73-1-1024x529.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/09112306/image-73-1-300x155.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/09112306/image-73-1-768x397.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/09112306/image-73-1-1536x794.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/09112306/image-73-1-2048x1059.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h3 class="wp-block-heading">A Calm Credit Market May Be Overlooking An Economic Fallout</h3>



On prediction platform Kalshi, the probability of a U.S. recession this year sits at just 19%, barely above the 17% low reached in January. On May 1, it had surged to as high as 61%. 



The drop in junk bond spreads suggests markets are pricing in minimal risk of recession, earnings deterioration or funding stress in the corporate sector.



Since April lows, the iShares iBoxx $ High Yield Corporate Bond ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HYG#NYSE">HYG</a>) has rallied almost 5%, while a broader measure of risk-free 



<iframe loading="lazy" src="https://kalshi.com/external-widgets/events/RECSSNBER-25/markets/RECSSNBER-25?color_scheme=light&#038;widget_size=medium&#038;variant=a&#038;utm_campaign=benzinga_widget" width="488px" height="242px" style="border:0"></iframe>



Earlier this week, the White House sent formal tariff warning letters to 14 countries—mostly in Asia—including Japan and South Korea. Absent bilateral trade deals, those nations face new "reciprocal" tariffs between 25% and 40%, starting Aug. 1.



Trump also warned the European Union that a similar letter would be sent within days, threatening tariffs as high as 200% on pharmaceuticals and 50% on copper imports.



In a note Wednesday, Goldman Sachs economist Elsie Peng said the Trump administration has already implemented a "range of tariff increases at both the country and sector levels," with further actions expected. Goldman estimates the effective U.S. tariff rate has already risen by 9 percentage points—and may reach 14 points if additional sectoral tariffs are enacted.



These types of shocks, Peng noted, tend to "meaningfully pass through to consumer prices," citing the 2018–2019 trade war experience.



<h3 class="wp-block-heading">High-Yield Spread: Why It Matters Now</h3>



The compression of high-yield spreads to 286 basis points signals calm, but risks may be building beneath the surface.



"Those juicy 7–8% yields might look tempting, but there's credit risk in there that most investors haven't had to really consider in a while," said Michael Gayed, CFA. "If credit spreads start widening and defaults tick up, the price direction on junk bonds can quickly turn south."



After a decade of cheap money, debt is now more expensive and credit quality matters. 



With trade tensions rising, volatility could return fast.



Read now:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/emerging-markets/25/07/46306953/emerging-markets-etfs-inflows-iemg-vwo-2025">Wall Street Is On Fire—So Why Is This Wall Of Cash Moving Abroad?</a></li>
</ul>



Image: Shutterstock

Bonds

Specialty ETFs

Treasuries

JOJO

Trump Tariffs: The Junk Bond Market May Be Sitting On A Time Bomb

NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) became the first company ever to reach a $4 trillion market capitalization on Wednesday.



The impressive milestone, which puts Nvidia in the history books, was correctly predicted by Benzinga readers who picked between three tech giants in a recent poll.



What Happened: Nvidia traces its roots to <a href="https://www.benzinga.com/news/education/25/05/45701924/jensen-huang-founded-nvidia-at-a-dennys-now-hes-worth-600x-more-than-the-restaurant-chain" target="_blank" rel="noopener">being created at a</a> Denny's restaurant from which it has come a long way to become the most valuable company in the world &#8211; a title it has earned multiple times over the last two years.



Nvidia <a href="https://www.benzinga.com/news/23/05/32630114/nvidia-becomes-ninth-company-to-hit-1-trillion-market-cap-who-could-be-next-to-join-elusive-club">became the ninth company </a>to pass the $1 trillion market capitalization milestone back in May 2023. The company then quickly surpassed more milestones over the last two years. It has fought back and forth with Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) to claim the title of the most valuable company on multiple occasions.



By hitting the $4 trillion milestone ahead of Microsoft and Apple, the company takes its place in history and disrupts a streak from Apple as the iPhone maker was the first U.S. company to be valued at $1 trillion, $2 trillion and $3 trillion market cap milestones.



In late June, <a href="https://www.benzinga.com/trading-ideas/long-ideas/25/07/46198021/nvidia-vs-microsoft-vs-apple-which-stock-reaches-4-trillion-first">Benzinga polled its readers</a> to ask which of these three tech giants would reach the $4 trillion market cap first.



The results on Instagram were:



<ul class="wp-block-list">
<li>Nvidia: 79%</li>



<li>Microsoft: 14%</li>



<li>Apple: 7%</li>
</ul>



The results on Threads were:



<ul class="wp-block-list">
<li>Nvidia: 79%</li>



<li>Microsoft: 17%</li>



<li>Apple: 4%</li>
</ul>



At the time, Nvidia had the market capitalization lead at $3.85 trillion, with Microsoft and Apple following closely behind at $3.70 trillion and $3.06 trillion, respectively.



Overall, Nvidia significantly won the polls with nearly 80% of the vote, ranking well ahead of the other two companies.



Here are the current market capitalizations as of Wednesday, July 9:



<ul class="wp-block-list">
<li>Nvidia: $4.00 trillion</li>



<li>Microsoft: $3.76 trillion</li>



<li>Apple: $3.14 trillion</li>
</ul>



Nvidia passing the milestone comes with the stock up 18.3% year-to-date and up 24.5% over the last year. Nvidia's gain of more than 1,400% over the last five years is significantly higher than that of its two peers.



Microsoft stock is up 20.4% year-to-date and 9.6% over the last 12 months. The stock has increased by 135% over the last five years.



Apple stock is down 13.7% year-to-date and 8.0% over the last 12 months. The stock has increased by 119% over the last five years.



Read Also: <a href="https://www.benzinga.com/general/social-media/24/03/37879478/humble-beginnings-like-nvidia-reddit-was-founded-inside-a-restaurant">Humble Beginnings: Like NVIDIA, Reddit Was Founded Inside A Restaurant</a>



What's Next: While Nvidia's rise to become the first $4 trillion company is historical, Benzinga readers are betting on more gains for the tech giant over the next 18 years.



President Donald Trump announced a plan to give parents $1,000 to invest for their children at birth. <a href="https://www.benzinga.com/trading-ideas/long-ideas/25/06/45973429/trump-wants-babies-to-get-1000-to-invest-at-birth-this-maginicent-7-stock-tops-poll-for-18-year-growth">Benzinga asked readers</a> which of the Magnificent 7 stocks they would invest $1,000 in today and hold for the next 18 years.



Here are the results:



<ul class="wp-block-list">
<li>Nvidia: 21%</li>



<li>Apple: 17%</li>



<li>Alphabet Inc: 14%</li>



<li>Meta Platforms: 14%</li>



<li>Amazon.com Inc: 12%</li>



<li>Microsoft: 12%</li>



<li>Tesla: 10%</li>
</ul>



The winner of the poll was Nvidia, with 21% of readers picking this stock as the one they would invest in and hold for the next 18 years to add wealth to their children&#8217;s investment account. Apple was a close second at 17%, with Alphabet and Meta tied for third at 14%.



Tesla ranked last in the poll of the Mag 7 stocks with 10% of the vote, while Microsoft and Amazon tied for fifth with 12%.



Benzinga readers are predicting big things for Nvidia in the future.



The company will report second-quarter financial results in late August. Nvidia<a href="https://www.benzinga.com/news/earnings/25/05/45657660/nvidia-q1-highlights-china-export-ban-hits-results-but-jensen-huang-says-demand-incredibly-strong"> previously guided for </a>second-quarter revenue to be $45.0 billion, +/- 2%, which includes a loss of $8.0 billion in H20 revenue due to the export controls.



Nvidia CEO Jensen Huang said at the time that the company's Blackwell AI supercomputer is in full-scale production and demand for the company's AI infrastructure is "incredibly strong."



&#8220;AI inference token generation has surged tenfold in just one year, and as AI agents become mainstream, the demand for AI computing will accelerate. Countries around the world are recognizing AI as essential infrastructure — just like electricity and the internet — and NVIDIA stands at the center of this profound transformation," Huang said.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/gaming/25/06/45776150/jensen-huang-says-nintendo-switch-2-has-ai-processors-to-enhance-gameplay-unlike-anything-weve-built-before">Jensen Huang Says Nintendo Switch 2 Has AI Processors To Enhance Gameplay: &#8216;Unlike Anything We&#8217;ve Built Before&#8217;</a></li>
</ul>



Photo: Shutterstock

Long Ideas

Movers

Nvidia Breaks $4 Trillion Barrier—Benzinga Poll Predicted It First

When copper prices exploded by more than 13%—marking the <a href="https://www.benzinga.com/markets/equities/25/07/46305321/copper-price-surges-trump-tariffs-stocks-july-2025">biggest single-day gain in history</a>—in response to President Donald Trump&#8216;s latest tariff threat, commodity investors cheered.



But for Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), that chart may as well have been a warning flare. With every Model Y and Cybertruck packing over 180 pounds of copper, the metal's meteoric rise just made building an EV a whole lot pricier.



<h2 class="wp-block-heading">Tesla's Copper Habit Just Got Expensive</h2>



Electric vehicles are copper gluttons. From motors to wiring to battery connectors, the red metal is the unsung hero of electrification. While a traditional gas-powered car uses around 50 pounds of copper, Teslas use more than three times that amount—roughly <a href="https://www.mining.com/new-tesla-low-voltage-system-a-big-deal-for-copper-says-musk/" target="_blank" rel="noreferrer noopener">180 pounds</a> per vehicle.



That makes Elon Musk's production lines especially vulnerable to copper's mood swings. And right now, copper is throwing a tantrum.



Read Also: <a href="https://www.benzinga.com/analyst-stock-ratings/downgrades/25/07/46308347/trumps-big-beautiful-bill-too-much-for-tesla-stock-direct-hit-to-profitability">Trump&#8217;s &#8216;Big Beautiful Bill&#8217; Too Much For Tesla Stock: &#8216;Direct Hit To Profitability&#8217;</a>



<h2 class="wp-block-heading">Blame The Tariff—Or The Speculators?</h2>



Jim Cramer thinks the surge isn't entirely organic. 



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The copper tariff is gratuitous. It makes data centers more costly. Of course, it makes a Tesla more expensive to make as it has a huge amount of copper in it. Please let that NOT be the reason for this tariff&#8230;&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1942750426417238077?ref_src=twsrc%5Etfw">July 9, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



He took to X to call the Trump administration's copper tariff "gratuitous," warning it could make both data centers and Teslas more expensive to build. And with AI infrastructure and EVs both guzzling copper like there's no tomorrow, that extra cost has nowhere to hide.



<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">JUST IN &#x1f6a8;: Copper gets a God Candle as it explodes by more than 13% for its biggest gain IN HISTORY &#x1f4c8;&#x1f4c8; <a href="https://t.co/rnj0KrtsZa">pic.twitter.com/rnj0KrtsZa</a>&mdash; Barchart (@Barchart) <a href="https://twitter.com/Barchart/status/1942695893230137579?ref_src=twsrc%5Etfw">July 8, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Meanwhile, traders are calling the surge a "God Candle"—a slang term for an epic breakout, noted Barcharts on X. Whether the move sticks or fizzles, companies like Tesla will feel it first.



<h2 class="wp-block-heading">A Shock To The Supply Chain</h2>



The irony? 



Copper was supposed to be the backbone of the green transition. Now it's threatening the affordability of EVs just as mainstream adoption gains speed. 



Tesla, which has long prided itself on vertical integration and margin control, may soon be forced to make some tough sourcing decisions.



For now, investors might enjoy the heat in copper miners. But Tesla? It's sweating the small stuff—180 pounds of it per car.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/07/46307371/musk-vs-trump-tesla-ceo-is-down-87-billion-in-2025-but-still-worth-49x-more-than-trump-media-trump-coin">Musk Vs. Trump: Tesla CEO Is Down $87 Billion In 2025 But Still Worth 49X More Than Trump Media &amp; Trump Coin</a></li>
</ul>



Photo: Shutterstock

Technicals

Commodities

Tesla Is Getting Burnt By Copper's God Candle

Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) may <a href="https://www.benzinga.com/topic/artificial-intelligence" target="_blank" rel="noreferrer noopener">dominate AI headlines</a>, but JPMorgan's Harlan Sur thinks Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) deserves more credit for building the infrastructure that makes artificial intelligence work.



From cutting-edge XPUs to networking muscle and enterprise software, Broadcom is the "#2 global AI semiconductor supplier" and the top name in custom ASICs, Sur says in a research note.



<h2 class="wp-block-heading">XPUs Built For A Million-Cluster World</h2>



Broadcom's AI strategy centers on its custom AI XPU business, which is firing on all cylinders. Sur highlights the company's collaboration with four AI customers and notes that it's "on track to tape-out first-generation AI XPU products this year."



He believes these customers—including OpenAI—are aiming to build massive AI clusters of "1 million XPU" units, which would place Broadcom at the heart of the AI buildout.



Read Also: <a href="https://www.benzinga.com/markets/tech/25/07/46276421/broadcom-tesla-mag-7-switch-musk-trump-feud">Musk Chaos Could Oust Tesla From Mag 7, Making Way For Broadcom</a>



<h2 class="wp-block-heading">Networking Gains From AI Compute</h2>



AI models require not just computing power but ultra-fast networking. That's where Broadcom's scale-up networking comes in, with 5–10x more dollar content per unit than traditional networks. As Sur puts it, "AI compute workloads continue to drive strong networking demand."



Broadcom's leadership in next-generation interconnects and silicon photonics further cements its position as the go-to vendor for high-performance infrastructure.



<h2 class="wp-block-heading">VMware Is The Sleeper Growth Engine</h2>



Don't overlook the software side. Sur notes VMware's Cloud Foundation (VCF) platform is set to "sustain strong growth until late 2026/2027," with revenues expected to hit $20 billion before settling into mid- to high-single-digit growth.



Despite lower gross margins on custom AI chips, Sur expects Broadcom to keep expanding operating margins due to business leverage. 



Importantly, "the team is focused on reinvesting in the business," says Sur, not chasing distractions like M&amp;A.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/analyst-stock-ratings/downgrades/25/07/46308347/trumps-big-beautiful-bill-too-much-for-tesla-stock-direct-hit-to-profitability">Trump&#8217;s &#8216;Big Beautiful Bill&#8217; Too Much For Tesla Stock: &#8216;Direct Hit To Profitability&#8217;</a></li>
</ul>



Image: Shutterstock

AVGO

Nvidia Is The Star―But Broadcom Is The AI Boom's Best-Kept Secret

Cryptocurrency bettors now estimate a 50% possibility that the Federal Reserve will cut interest rates for the first time in 2025 during its September meeting.



What happened: As of this writing, the <a href="https://polymarket.com/dashboards/fed-rates">odds</a> of a 25 basis point cut were at 50% on the decentralized prediction platform Polymarket. On the other hand, the odds that rates will remain unchanged from the current 4.25%-4.50% range were 44%.



The probability of rates going unchanged during the July meeting was 96%.



These bets were roughly consistent with the CME FedWatch tracker, which <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">showed </a>a 95% chance of rates remaining steady in July. For September, traders priced in a 62% chance of a 0.25% rate cut.



Goldman Sachs economists also <a href="https://www.benzinga.com/markets/economic-data/25/07/46188699/goldman-sachs-now-expects-3-fed-rate-cuts-in-2025-amid-weak-jobs-data-modest-trump-tariff-effects">anticipate a rate cut in September</a>, three months earlier than they had previously forecast, due to the lower-than-expected impact of tariffs.



See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/news/topics/25/07/46302822/peter-schiff-says-trumps-tax-cuts-wont-grow-the-economy-instead-he-warns-theyll-lead-to-higher-interest-rates-and-inflation">Peter Schiff Says Trump&#8217;s Tax Cuts &#8216;Won&#8217;t Grow The Economy.&#8217; Instead, He Warns They&#8217;ll Lead To Higher Interest Rates And Inflation</a>



Polymarket, based on Polygon (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">POL</a>), allows users to buy &#8220;Yes&#8221; and &#8220;No&#8221; shares in USDC (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>) stablecoin. The shares representing the correct outcome are paid out $1 USDC each upon market resolution.



The platform is not accessible in the U.S. due to regulatory restrictions.



Why It Matters: The jump in odds comes in the wake of President Donald Trump's escalating criticism of Fed Chair Jerome Powell.



Trump reiterated his call for Powell to &#8220;resign immediately&#8221; and asked for a congressional investigation into allegations that the Fed Chair gave<a href="https://www.benzinga.com/news/politics/25/07/46237506/trump-says-jerome-powell-should-resign-immediately-after-fhfa-director-alleges-fed-chair-lied-about-2-5-billion-renovation-plan"> false information</a> during a Senate Banking Committee testimony.



On monetary policy, Trump <a href="https://www.benzinga.com/news/politics/25/06/46165110/donald-trump-calls-fed-chair-jerome-powell-a-bad-person-who-keeps-rates-artificially-high-says-benchmark-should-drop-by-half">has accused Powell of keeping interest rates &#8220;artificially high&#8221;</a> and argued that the benchmark should be reduced to &#8220;1% or 2%,&#8221; or half of what it is now.



Earlier this month, Powell said that Trump's tariff strategy had <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46213909/jerome-powell-says-trumps-tariffs-deterred-fed-from-easing-monetary-policy-july-decision-to-depend-on-data-wouldnt-take-any-meeting-off-the-table">deterred the Federal Reserve</a> from implementing a more dovish monetary policy.



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/07/46313013/trumps-tariff-letters-spark-high-level-of-uncertainity-and-volatility-says-economist-mohamed-el-erian">Trump&#8217;s Tariff Letters Spark &#8216;High Level Of Uncertainity And Volatility,&#8217; Says Economist Mohamed El-Erian</a><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46148904/donald-trump-says-bitcoin-takes-a-lot-of-pressure-off-the-dollar"> </a></li>
</ul>



Image Credit: Jack Gruber / USA TODAY NETWORK via Imagn Images

$POL

$USDC

Polymarket Bettors See 50% Chance Of Fed September Rate Cuts As Trump Turns Up Heat On Powell

U.S. stock futures advanced on Wednesday after ending on a mixed note on Tuesday. Futures of major benchmark indices were trading higher.



President Donald Trump announced a <a href="https://www.benzinga.com/markets/equities/25/07/46305321/copper-price-surges-trump-tariffs-stocks-july-2025">50% tariff on copper imports</a> and confirmed the &#8220;reciprocal&#8221; tariffs, paused in April, will resume on Aug. 1, stating, &#8220;no extensions will be granted&#8221; to countries without finalized deals by that date. 



The 10-year Treasury bond yielded 4.41% and the two-year bond was at 3.90%. 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 95.3% 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>0.20%</td></tr><tr><td>S&amp;P 500</td><td>0.18%</td></tr><tr><td>Nasdaq 100</td><td>0.19%</td></tr><tr><td>Russell 2000</td><td>0.08%</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 Wednesday. The SPY was up 0.17% at $621.37, while the QQQ advanced 0.16% to $553.24, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From Last Session:



Energy and materials stocks bucked the overall market trend, closing Tuesday&#8217;s session higher, while most other sectors on the S&amp;P 500 ended negatively.



Consumer staples, utilities, and financial stocks notably recorded the biggest losses.



U.S. stocks settled mostly lower on Tuesday.



Shares of ProKidney Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PROK#NASDAQ">PROK</a>) jumped an impressive 515% on Tuesday. This surge followed the company&#8217;s announcement of statistically and clinically significant topline results from its Phase 2 REGEN-007 trial, which evaluated Rilparencel in patients with chronic kidney disease and diabetes.



On the economic data front, the US Manheim Used Vehicle Value Index saw a 1.6% month-over-month increase for June, a rebound after a 1.4% decline in May. Meanwhile, the NFIB Small Business Optimism Index dipped to 98.6 in June from 98.8 in May, slightly below market estimates of 98.7.



<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>0.029%</td><td>20,418.46</td></tr><tr><td>S&amp;P 500</td><td>-0.072%</td><td>6,225.52</td></tr><tr><td>Dow Jones</td><td>-0.37%</td><td>44,240.76</td></tr><tr><td>Russell 2000</td><td>0.66%</td><td>2,228.74</td></tr></tbody></table></figure>



Insights From Analysts:



Jeffrey Buchbinder, the chief equity strategist at LPL Financial, forecasted modest gains for equities in its mid-year outlook.



&#8220;AI-driven capex remains a key tailwind, but tariff-related earnings pressure and elevated valuations may cap upside. Pullbacks should be viewed as selective buying opportunities,&#8221; he said.



LPL's year-end S&amp;P 500 target range was set at 6,000 to 6,100 points, based on $275 in 2026 EPS.



Meanwhile, the senior economist at WisdomTree, Jeremy Siegel, said that &#8220;Equity markets found encouragement, not because employment showed strength, but because it did not show further deterioration.&#8221;



Talking about AI, he said, &#8220;Companies able to leverage AI for productivity gains—particularly in financials and traditional industries—are poised to outperform.&#8221;



Siegel also stated that he will be closely watching for a potential shift in market leadership. &#8220;July has opened strongly for smaller caps, but I believe the stage is set for a longer-lasting rotation.&#8221;



&#8220;If users begin to invest in cost-saving technologies under the pressure of higher tariffs or wage costs, value could finally have its day,&#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 Wednesday:



<ul class="wp-block-list">
<li>The wholesale inventories data will be out by 10:00 a.m. ET.</li>



<li>Minutes of the Fed&#8217;s May FOMC meeting will be released by 2:00 p.m. ET.</li>
</ul>



Stocks In Focus:



<ul class="wp-block-list">
<li>Entero Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENTO#NASDAQ">ENTO</a>) surged 57.84% after regaining Nasdaq compliance following its annual meeting.</li>



<li>Calidi Biotherapeutics Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLDI#NYSE">CLDI</a>) zoomed 50.57% after it announced the development of a precision genetic medicine platform for cancer treatment. Its innovative approach focuses on using engineered viruses to deliver genetic medicines that can target both primary tumors and metastatic sites.</li>



<li>Sobr Safe Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOBR#NASDAQ">SOBR</a>) climbed 42.73% after the company announced it had been granted European patent number EP4171362.</li>



<li>Birks Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BG#NYSE">BG</a>) gained 21.10% after completing the acquisition of the Watch and Jewellery Business of European Boutique and related debt financing amendments.</li>



<li>Sharplink Gaming Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBET#NASDAQ">SBET</a>) advanced 14.06% after the company announced that it acquired an additional 7,689 ETH for the week of June 28 through July 4.</li>



<li>GameSquare Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GAME#NASDAQ">GAME</a>) was 1.95% higher after a $100 million Ethereum investment announced on Tuesday spurred a 58% rally.</li>



<li>AZZ Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZZ#NYSE">AZZ</a>) rose 2.01% in premarket on Wednesday as analysts expect it to report earnings of $1.58 per share on revenue of $434.79 million after the closing bell.</li>



<li>Methode Electronics Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MEI#NYSE">MEI</a>) advanced 4.72% as it is expected to report earnings after market close. Analysts estimate earnings of 4 cents per share on revenue of $232.87 million.</li>



<li>Penguin Solutions Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TZUP#NASDAQ">TZUP</a>) dropped 6.09% after reporting upbeat earnings for the third quarter, while sales missed estimates. The company raised its FY2025 earnings guidance, but narrowed its sales forecast.</li>



<li>Aehr Test Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEHR#NASDAQ">AEHR</a>) plummeted 20.11% after posting weaker-than-expected revenue for the fourth quarter on Tuesday. Aehr Test Systems reported fourth-quarter revenue of $14.09 million, missing analyst estimates of $14.82 million.</li>
</ul>



Commodities, Gold, And Global Equity Markets:



Crude oil futures were trading lower in the early New York session by 0.51% to hover around $68.68 per barrel.



Gold Spot US Dollar fell 0.37% to hover around $3,289.34 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was higher by 0.06% at the 97.5760 level.



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



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/07/46313514/warren-buffetts-quiet-dividend-play-9-high-yield-stocks-held-by-a-berkshire-subsidiary">Warren Buffett&#8217;s Quiet Dividend Play: 9 High-Yield Stocks Held By A Berkshire Subsidiary</a></li>
</ul>



Photo courtesy: Shutterstock

AEHR

CLDI

ENTO

GAME

PROK

SBET

SOBR

TZUP

US Stocks Likely To Open Higher: Trump's Tariff Clock Ticks, Fed Likely To Keep Rates Unchanged

The CNN Money Fear and Greed index showed a decline in the overall market sentiment, while the index moved to the &#8220;Greed&#8221; zone on Tuesday.



U.S. stocks settled mostly lower on Tuesday, with the Dow Jones index falling more than 150 points during the session following a series of letters from the White House to major trading partners, outlining sweeping new tariffs.



Shares of ProKidney Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PROK#NASDAQ">PROK</a>) jumped 515% on Tuesday after the company reported statistically and clinically significant topline results from its Phase 2 REGEN-007 trial evaluating Rilparencel in patients with chronic kidney disease and diabetes.



On the economic data front, the US Manheim Used Vehicle Value Index increased 1.6% month-over-month for June, following a 1.4% decline in May. The NFIB Small Business Optimism Index fell to 98.6 in June from 98.8 in May and compared to market estimates of 98.7.



Most sectors on the S&amp;P 500 closed on a negative note, with consumer staples, utilities and financial stocks recording the biggest losses on Tuesday. However, energy and materials stocks bucked the overall market trend, closing the session higher.



The Dow Jones closed lower by 166 points to 44,240.76 on Tuesday. The S&amp;P 500 fell 0.07% to 6,225.52, while the Nasdaq Composite gained 0.03% to 20,418.46 during Tuesday's session.



Investors are awaiting earnings results from Theratechnologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/THTX#NASDAQ">THTX</a>), AZZ Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZZ#NYSE">AZZ</a>) and Methode Electronics, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MEI#NYSE">MEI</a>) today.



What is CNN Business Fear &amp; Greed Index?



At a current reading of 74.3, the index moved to the &#8220;Greed&#8221; zone on Tuesday, versus a prior reading of 75.2.



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:



<ul class="wp-block-list">
<li> <a href="https://www.benzinga.com/trading-ideas/short-ideas/25/07/46296650/top-2-industrials-stocks-you-may-want-to-dump-this-quarter">Top 2 Industrials Stocks You May Want To Dump This Quarter</a> </li>
</ul>



Photo courtesy: Shutterstock

THTX

Dow Tumbles Over 150 Points Amid Trump Tariffs: Investor Sentiment Declines, Fear Index Moves To 'Greed' Zone

Leading cryptocurrencies recovered and stocks traded flat on Tuesday as President Donald Trump stated that the Aug. 1 deadline for tariffs remains unchanged.



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 10:30 p.m. ET)</th></tr></thead><tbody><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>+0.90%</td><td>$108,766.98</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>+3.02%</td><td>$2,602.05</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+2.08%</td><td>$0.1702</td></tr></tbody></table></figure>



What Happened: Bitcoin rallied to an intraday high of $109,198.97, recouping losses from Monday&#8217;s sell-off. Ethereum broke above $2,600 but failed to sustain the rally



Institutional interest continued to grow, as iShares Bitcoin Trust&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>)&nbsp;<a href="https://www.benzinga.com/crypto/25/07/46291817/blackrocks-bitcoin-etf-just-overtook-michael-saylors-mstr-now-holds-nearly-700000-btc">surpassed&nbsp;</a>Strategy Inc.‘s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) BTC holdings.



Over $115 million was liquidated from the cryptocurrency market in the last 24 hours, with short position traders losing more. A further $260 million in Bitcoin perpetuals risked liquidation if the apex cryptocurrency rose to $111,000.



Bitcoin's open interest rose marginally by 0.52%. Notably, the majority of top traders on Binance were positioned short as of this writing.



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



Top Gainers (24 Hours)



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 10:30 p.m. ET)</th></tr></thead><tbody><tr><td>Cronos (CRO)</td><td>+18.22%</td><td>$0.09489</td></tr><tr><td>Zcash (ZEC)&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+9.25%</td><td>$42.14</td></tr><tr><td>SPX6900 (SPX)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+7.61%</td><td>$1.33 </td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.37 trillion, following a 1.16% increase in the last 24 hours.



Stocks were a mixed bag on Tuesday. The Dow Jones Industrial Average fell 165.60 points, or 0.37%, to end at 44,240.76. The S&amp;P 500 was little changed, closing 0.07% lower at 6,225.52. The tech-focused Nasdaq Composite gained 0.03% to end at 20,418.46.



Trump stated via Truth Social that the Aug. 1 deadline for tariffs remains <a href="https://truthsocial.com/@realDonaldTrump/posts/114818149310161097">unchanged</a>, and no extensions will be given. He also <a href="https://www.benzinga.com/markets/equities/25/07/46305321/copper-price-surges-trump-tariffs-stocks-july-2025">announced a 50% tariff</a> on copper imports, pushing the industrial metal to record highs.



Tuesday&#8217;s sideways movement came after markets fell on Monday after Trump&#8217;s announcement of <a href="https://www.benzinga.com/markets/equities/25/07/46281204/wall-street-today-trump-tariffs-japan-south-korea-stocks-drop">sweeping 25% tariffs</a> on all imports from Japan and South Korea beginning Aug. 1.



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



Analyst Notes: Blockchain analytics firm Santiment highlighted a surge in bullish retail crowd sentiment as Bitcoin sits above $108,500.



"Be cautious while crowd FOMO is pouring in, as it can often lead to short-term corrections," Santiment remarked.



<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">&#x1f92a; Bitcoin traders are leaning very bullish once again with crypto&#39;s top coin&#39;s market value sitting just above $108.5K. Be cautious while crowd FOMO is pouring in, as it can often lead to short-term corrections. &#x1f517; Link to keep tabs on <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> sentiment: <a href="https://t.co/NU755XSgel">https://t.co/NU755XSgel</a> <a href="https://t.co/cl8B0bsevy">pic.twitter.com/cl8B0bsevy</a>&mdash; Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1942601534224666849?ref_src=twsrc%5Etfw">July 8, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Widely followed technical analyst and trader Urkel said Bitcoin's path to $120,000-$130,000 will be smoother once it breaks above a "silly little wall" around $112,000.



"Just needs a big push," the analyst 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">Once <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> breaks through this silly little wall, there&#39;s not much in the way of a move to $120,000-130,000 next. Just needs a big push. <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://t.co/XnlK5bzvi9">pic.twitter.com/XnlK5bzvi9</a>&mdash; Urkel (@SteveUrkelDude) <a href="https://twitter.com/SteveUrkelDude/status/1942607886351536507?ref_src=twsrc%5Etfw">July 8, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo Courtesy: Miha Creative on Shutterstock.com



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



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/movers/25/07/46298016/kulr-technologys-bitcoin-bet-deepens-with-coinbase-credit">KULR Technology&#8217;s Bitcoin Bet Deepens With Coinbase Credit</a></li>
</ul>

Cryptocurrency

IBIT

MSTR

Bitcoin, Ethereum, Dogecoin Recover Even As Trump Reiterates August Tariff Deadline: Analyst Sees Move To $120,000-$130,000 If BTC Breaks Above This 'Silly Wall'

Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) founder and executive chairman, Jeff Bezos, has continued his selling spree in the company, offloading a fresh tranche of $666 million this week.



Check out the current price of&nbsp;<a href="https://www.benzinga.com/quote/AMZN" target="_blank" rel="noreferrer noopener">AMZN stock here.</a>



What Happened: According to a Form 4 filing submitted to the U.S. Securities and Exchange Commission on Tuesday, Bezos disposed of roughly 2.97 million shares in the e-commerce giant, across two transactions dated July 3 and July 7, at average prices of $223.73 and $223.92 per share, respectively.



The transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted in March 2025, which is essentially designed to allow corporate insiders to sell shares at predetermined times and volumes, without raising concerns of insider trading.



See Also: <a href="https://www.benzinga.com/personal-finance/management/25/07/46225954/sold-his-soul-the-devil-is-smiling-rosie-odonnell-blasts-jeff-bezos-50-million-wedding-oprah-and-his-fake-fembot-wife-in-sca">&#8216;Sold His Soul… The Devil Is Smiling&#8217; — Rosie O&#8217;Donnell Blasts Jeff Bezos&#8217; $50 Million Wedding, Oprah, and His &#8216;Fake Fembot Wife&#8217; in Scathing Rant</a>



Following the transaction, Bezos still holds over 902 million shares in Amazon, or just under 10% of its total outstanding shares, worth $197 billion at current market prices.



This comes just weeks after Bezos tied the knot with long-time partner, Lauren Sánchez, in a star-studded <a href="https://www.benzinga.com/news/events/25/06/46136092/jeff-bezos-lauren-sanchez-wedding-draws-star-studded-guest-list-to-venice-here-are-the-celebs-who-showed-up-so-far">$50 million wedding</a> in Venice two weeks ago. 



Why It Matters: Over a week ago, Bezos <a href="https://www.benzinga.com/markets/large-cap/25/07/46212089/jeff-bezos-sells-737-million-worth-of-amazon-stock-just-days-after-lavish-venetian-wedding">sold another tranche</a> of the company&#8217;s shares, worth $737 million, as part of the same pre-arranged trading plan.



According to a 10-Q filing made in May, Bezos <a href="https://www.benzinga.com/news/insider-trades/25/05/45175915/jeff-bezos-to-unload-almost-5-billion-in-amazon-stock-filing">plans to sell shares</a> worth $5 billion in the company, through May of 2026, aimed at funding his space exploration company, Blue Origin, alongside other ventures and charitable organizations. 



Bezos&#8217; net worth currently stands at $240 billion, according <a href="https://www.bloomberg.com/billionaires/profiles/jeffrey-p-bezos/">to</a> the Bloomberg Billionaires Index, with his holdings in Amazon making up a significant chunk of it. The rest comes from his ownership of Blue Origin, which has been marked on a cost-of-investment basis.



Price Action: Shares of Amazon were down 1.84% on Tuesday, trading at $219.36, and are up 0.13% after hours.



<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="148" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/08215956/Screenshot-2025-07-09-at-7.29.40-AM-1024x148.png" alt="" class="wp-image-977373" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/08215956/Screenshot-2025-07-09-at-7.29.40-AM-1024x148.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/08215956/Screenshot-2025-07-09-at-7.29.40-AM-300x43.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/08215956/Screenshot-2025-07-09-at-7.29.40-AM-768x111.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/08215956/Screenshot-2025-07-09-at-7.29.40-AM.png 1536w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



According to Benzinga&#8217;s Edge Stock Rankings, the stock scores well on Growth, ranked at the 96th percentile, and has a favorable price trend in the short, medium and long terms. Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a> for deeper insights into the stock.



Photo Courtesy: Lev Radin on Shutterstock.com



Read More: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/07/46283137/trump-vs-bezos-how-big-beautiful-bill-may-wreck-20k-ev-dream">Trump Vs. Bezos: How &#8216;Big Beautiful Bill&#8217; May Wreck $20K EV Dream</a></li>
</ul>

Insider Trades

Jeff Bezos Offloads Nearly $666 Million In Amazon Stock — Adds To Post-Wedding Sell-Off Streak

Mark Zuckerberg-led Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) has reportedly acquired a <a href="https://www.benzinga.com/24/07/39867045/metas-34-year-to-date-surge-and-a-5-stake-in-essilorluxottica-transform-ray-ban-smart-glasses-and-re">minority stake</a> in EssilorLuxottica (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ESLOF#OTC">ESLOF</a>).



What Happened: Meta has acquired nearly 3% of EssilorLuxottica, the French-Italian eyewear giant behind brands such as Ray-Ban and Oakley, <a href="https://www.bloomberg.com/news/articles/2025-07-08/meta-invests-3-5-billion-in-essilorluxottica-in-ai-glasses-push">reported</a> Bloomberg on Tuesday, citing people familiar with the matter.



The stake is worth approximately €3 billion ($3.52 billion) at current market prices and comes amid Meta's growing ambitions in the <a href="https://www.benzinga.com/25/01/43114842/meta-expands-ai-wearables-with-oakley-smart-glasses-camera-equipped-earbuds-in-development">wearable tech space</a>.



See Also: <a href="https://www.benzinga.com/markets/tech/25/07/46301582/metas-ai-empire-grows-fueled-by-openai-deepmind-apple-defectors">Meta&#8217;s AI Empire Grows — Fueled By OpenAI, DeepMind, Apple Defectors</a>



As per the report, Meta could increase its stake to as much as 5% over time.



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



Why It's Important: Last month, it was reported that Meta and EssilorLuxottica plan to <a href="https://www.benzinga.com/markets/large-cap/25/06/45987099/meta-teams-up-with-oakley-prada-for-next-gen-ai-smart-glasses">release new AI smart glasses</a> under the Oakley and Prada brands.



This comes after the popularity of the Ray-Ban Meta smart glasses, which launched in 2023 and have reportedly sold millions of units. In October 2024, it was reported that Ray-Ban and Meta's smart glasses have <a href="https://www.benzinga.com/news/24/10/41458752/metas-smart-glasses-dominate-ray-ban-stores-ai-features-still-missing">become the best-selling product</a> in 60% of Ray-Ban stores across Europe, the Middle East and Africa.



Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.



Meanwhile, Meta rival Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) reportedly has at <a href="https://www.benzinga.com/markets/tech/25/06/46161059/apple-has-the-potential-to-crush-metas-ray-ban-smart-glasses-says-ming-chi-kuo-but-the-tech-giant-has-been-surprisingly-slow">least seven headsets and smart glasses</a> in development. This includes Vision Pro M5 models, Vision Air, XR glasses and a display accessory, with some expected to launch starting in 2027.



Price Action: Meta shares rose 0.044% in after-hours trading, following a 0.32% gain during regular market hours, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.



Benzinga&#8217;s Edge Stock Rankings indicate that META shows a strong upward trend in the short, medium and long term. While its growth score remains high, its value rating is relatively lower. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">More detailed performance data is available here</a>.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/08213814/Screenshot-2025-07-09-at-7.06.22%E2%80%AFAM.png" alt="" class="wp-image-977355"/></a></figure>



Photo Courtesy: Skorzewiak on Shutterstock.com



Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.



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<li><a href="https://www.benzinga.com/markets/tech/25/06/46127671/amazon-loses-top-ai-leader-in-high-stakes-talent-shuffle" target="_blank" rel="noreferrer noopener">Amazon Loses Top AI Leader In High-Stakes Talent Shuffle</a></li>
</ul>



<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"> </a>

Media

ESLOF

Mark Zuckerberg-Led Meta Acquires Nearly 3% Of Ray-Ban, Oakley Parent EssilorLuxottica In $3.5 Billion Deal: Report

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk has spoken out about the &#8220;Big Beautiful Bill&#8221; backed by President Donald Trump and Congress on several occasions. The bill will make it <a href="https://www.benzinga.com/news/politics/25/07/46283137/trump-vs-bezos-how-big-beautiful-bill-may-wreck-20k-ev-dream">more expensive for consumers</a> to buy electric vehicles and provide less credits for EV companies.



One analyst says the bill will hurt Tesla in more ways than one. &nbsp;



The Tesla Analyst: William Blair analyst Jed Dorsheimer downgraded Tesla stock from &#8220;Outperform&#8221; to &#8220;Market Perform&#8221; in a recent investor note. The analyst does not have a price target on the stock.



Read Also: <a href="https://www.benzinga.com/news/politics/25/07/46300946/musk-vs-trump-soap-opera-must-end-tesla-analyst-shares-3-key-steps">Musk Vs. Trump &#8216;Soap Opera Must End&#8217;: Tesla Analyst Shares 3 Key Steps</a>



The Analyst Takeaways: The recently passed "Big Beautiful Bill" could be "too much" for Tesla stock to overcome, Dorsheimer said in a new investor note.



The analyst said the removal of the $7,500 EV tax credit for consumers was expected, but the elimination of the corporate average fuel economy (CAFE) fines was less expected and requires a reset.



"While the $7,500 tax credit is likely to affect demand, the combination of a demand headwind and over $2 billion in profit from regulatory credits at risk may be too much for investors to bear," Dorsheimer said.



The loss of the EV $7,500 tax credit could negatively impact demand for Tesla vehicles among consumers. The removal of regulatory credit revenue could directly hit Tesla's profitability, the analyst adds.



"No More CAFÉ Fines, No More Credit Buyers."



The analyst said the bill eliminates market demand for Tesla's credits. The company earned $2.8 billion from selling these credits in 2024, making up 16% of its total gross profit.



Dorsheimer estimates that 75% of Tesla's regulatory credit revenue is related to the CAFE standards and now gets zeroed out in 2027.



The analyst stated that the removal of the $7,500 consumer tax credit could lead to an increase in unit volumes in the third quarter and put pressure on the fourth-quarter figures.



Along with the weakened demand and lower profits from regulatory credits, the analyst cites Musk's political push as a potential distraction for the electric vehicle company.



"We expect that investors are growing tired of the distraction at a point when the business needs Musk's attention the most and only see downside from his dip back into politics."



The analyst said Tesla stock now trades at an enterprise value of 76 times its lowered 2026 EBITDA estimates.



Risks for Tesla from the analyst include competition, geopolitics and "key-man risk" with Musk.



TSLA Price Action: Tesla stock was up 1.3% Tuesday to $297.81 versus a 52-week trading range of $182.00 to $488.54. Tesla stock is down 20.4% year-to-date in 2025.



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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/07/46303314/heres-how-much-1000-invested-in-tesla-stock-today-will-be-worth-if-cathie-woods-price-prediction-comes-true-in-2029-2">Here&#8217;s How Much $1,000 Invested In Tesla Stock Today Will Be Worth If Cathie Wood&#8217;s Price Prediction Comes True In 2029</a></li>
</ul>



Image created using artificial intelligence via Midjourney.

Short Ideas

Downgrades

Trump's 'Big Beautiful Bill' Too Much For Tesla Stock: 'Direct Hit To Profitability'

Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) has had a rough ride this year, down nearly 25% in the past 12 months and 10% just this past month. However, after weeks of pressure, the chart is flashing a setup that has <a href="https://www.benzinga.com/quote/AMD/news">traders on high alert.</a>



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0708"><img loading="lazy" decoding="async" width="626" height="488" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/08134552/Screenshot-2025-07-08-at-11.15.35-PM.png" alt="" class="wp-image-976967" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/08134552/Screenshot-2025-07-08-at-11.15.35-PM.png 626w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/08134552/Screenshot-2025-07-08-at-11.15.35-PM-300x234.png 300w" sizes="(max-width: 626px) 100vw, 626px" /></a></figure>



<a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0708">Chart created using Benzinga Pro</a>



The stock has pulled back to around $135-$137, a level that aligns with strong technical support and fills a recent breakout gap. The RSI (relative strength index) has cooled off to 62.74, momentum remains intact, and the dip is looking more like a launchpad than a breakdown.



Read Also: <a href="https://www.benzinga.com/markets/equities/25/07/46290622/openai-sticks-with-nvidia-chatgpt-maker-says-no-plans-to-use-googles-ai-chips-at-scale">OpenAI Sticks With Nvidia: ChatGPT Maker Says No Plans To Use Google&#8217;s AI Chips At Scale</a>



<h2 class="wp-block-heading">Chart Patterns Don't Lie—And AMD's Is Repeating History</h2>



AMD has quietly begun delivering its MI350 units, and while headlines may still be catching up, the chart tells a familiar story. 



<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=%24AMD&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AMD</a> if you missed the First Wave bounce from the 7th of April you better make sure you don&#39;t miss the Wave 2 pull back support level to add.<a href="https://twitter.com/search?q=%24AMD&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AMD</a> was beaten up by everyone but the chart was flawless and the same pattern repeated itself from 2022 &#8211; 2023. Even if you did not… <a href="https://t.co/e3STGvp8YM">pic.twitter.com/e3STGvp8YM</a>&mdash; The Long Investor (@TheLongInvest) <a href="https://twitter.com/TheLongInvest/status/1942550191791337627?ref_src=twsrc%5Etfw">July 8, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The same pattern seen during AMD's 2022–2023 comeback is playing out again, noted The Long Investor on X &#8211; pullbacks to key moving averages followed by powerful rebounds.



<h2 class="wp-block-heading">Beneath The Dip, Bullish Signals Are Stacking Up</h2>



Technically speaking, AMD is sitting above its 20-day, 50-day, and 200-day moving averages—typically a bullish setup. The MACD (moving average convergence/divergence) indicator is in bullish territory, and every dip this year has been met with eager buyers. If history is any guide, this one may be too.



Some traders are eyeing the $136 range as an attractive entry point, with upside targets around $170 and risk management set below $125. Long-term investors? They're simply noting that every time AMD drops below its 200-week average, it ultimately rewards the patient.



In a chip market dominated by Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) headlines, AMD might just be setting up for its own moment. Missed the first wave? This second pullback could be your shot.



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</ul>



Photo: Shutterstock

AMD At $135? That Just Might Be The Launchpad

Wall Street may already be sitting near record highs, but Goldman Sachs believes the rally still has legs—thanks to lower yields, mega-cap momentum and the Fed's return to cutting rates, the bank now sees the S&amp;P 500 hitting <a href="https://www.benzinga.com/topic/expert-ideas">6,900 in the next 12 months.</a>



In a new note Monday, David J. Kostin, chief U.S. equity strategist at Goldman Sachs, said he expects 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>) – to climb to 6,400 in three months, a gain of 3%, 6,600 by year-end, up 6%, and 6,900 within 12 months, an 11% increase.



That's a significant boost from their previous targets of 5,900, 6,100 and 6,500, respectively—and well above the median consensus forecast of 5,975.



<h3 class="wp-block-heading">Why The Upgrade? Think Fed Cuts And Big Tech</h3>



Goldman's forecast shift is built on three key assumptions: earlier and deeper Fed cuts, lower bond yields and the staying power of mega-cap earnings.



The bank now expects the Federal Reserve to cut rates three times within one year, starting in September, followed by two more in 2026. Their rates team sees the 10-year Treasury yield ending 2025 at 4.2%, down from a prior estimate of 4.5%.



According to Goldman, "every 50 basis point decline in real yields is associated with a roughly 3% increase" in the S&amp;P 500's forward price-to-earnings ratio.



Strong first-quarter results from mega-cap names also gave Goldman more confidence that tech leaders can "sustain current investor expectations for their long-term growth."



<h2 class="wp-block-heading">Market Breadth Still Narrow, But That May Change</h2>



Despite the record highs, most stocks still lag behind. 



Goldman said the "median constituent remains more than 10 percent below its 52-week high," pointing to extremely narrow market breadth.



The Invesco S&amp;P 500 Equal-Weight ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RSP#NYSE">RSP</a>) still trades 3% below its record highs hit in late November 2024. 



But rather than a correction, Goldman sees a potential shift in leadership. "We believe a ‘catch up' is more likely than a ‘catch down'" as laggards start to recover in the coming months.



Notably, the recent rally has been unusually sharp: since the April low, the S&amp;P 500 is up 25%, ranking above the 99th percentile of three-month returns in the past 50 years.



<h3 class="wp-block-heading">Earnings Steady For Now, But Tariffs Cloud Outlook</h3>



Goldman is sticking with its earnings growth forecasts of 7% for both 2025 and 2026. Still, Kostin indicated uncertainty tied to the evolving tariff landscape, which could pressure margins.



"The shifting tariff landscape creates large uncertainty around our earnings forecasts," he said, though large-cap firms appear buffered by inventory and cost strategies.



<h3 class="wp-block-heading">3 Investment Plays for the Second Half of 2025</h3>



Goldman is positioning for a rally that broadens beyond mega-caps. The firm outlined three key trade ideas:



<ol class="wp-block-list">
<li>Balanced sector exposure, with overweights in Software &amp; Services, Materials, Utilities, Media &amp; Entertainment and Real Estate.</li>



<li>Alternative asset managers, which lagged despite recovering capital markets.</li>



<li>Companies with high floating-rate debt, which should benefit from lower rates.</li>
</ol>



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Image created using artificial intelligence via Midjourney.

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