Wall Street extended its historic rally this week, with major benchmarks such as the S&amp;P 500 and the tech-heavy Nasdaq 100 hitting fresh all-time highs, as strong corporate earnings, robust economic data and AI-fueled tech momentum continued <a href="https://www.benzinga.com/markets">to boost investor optimism.</a>



Big banks beat earnings estimates, setting a strong tone for the season. Airlines and consumer-focused giants also impressed.



Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) and PepsiCo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) reported their best trading weeks of the year, further supporting the confidence that solid consumer demand is driving margins across sectors.



Economic strength was underscored by June's retail sales data, which showed a 0.6% monthly increase — crushing economists&#8217; forecast of 0.1% — while jobless claims dropped to 221,000, their <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46467952/us-retail-sales-june-2025-fed-trump-inflation-consumer">lowest level since April.</a>



Investors appear to be buying into a &#8220;Goldilocks&#8221; scenario, where growth is strong enough to support profits but not so strong as to trigger new inflation fears. June's inflation data came in broadly lower than expected, marking a sharp turnaround from the stagflation concerns that gripped the market in the first quarter.



Since the post-tariff lows in April, the S&amp;P 500 has surged 27%, a rally that now ranks among the sharpest three-month advances ever.



Read also: <a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/07/46426381/sp500-rally-investor-sentiment-2025">S&amp;P 500 Defies Odds With Rare Rally — But &#8216;Toppy&#8217; Sentiment Creeps In</a>



NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) remains the epicenter of the tech rally. Its shares have nearly doubled since April, driven by surging demand for AI chips from cloud giants like Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>).



Nvidia's rally has helped lift the "Magnificent Seven" — including Microsoft Corp., Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Amazon.com Inc., Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</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>) — to a combined $18.5 trillion market cap, surpassing <a href="https://www.benzinga.com/markets/economic-data/25/07/46477275/wall-street-big-7-are-now-bigger-than-chinas-entire-economy">China's entire nominal GDP.</a>



Despite the economic strength, President Donald Trump has renewed his attacks on Fed Chair Jerome Powell, calling for immediate rate cuts. He even reportedly floated the idea of firing Powell before <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46454852/trump-fed-powell-odds-inflation-markets">backing off the proposal.</a>



Meanwhile, Fed Gov. Christopher Waller — a potential candidate to replace Powell next year — said he's willing to cut rates by <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46491573/waller-fed-chair-trump-rate-cut-july">the end of July.</a> The Fed meeting on July 30 now carries heightened political stakes, with growing signs of internal divisions.



Read Now:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/07/46496809/magnificent-7-stocks-wall-streets-estimates-google-alphabet-microsoft">These Two Magnificent 7 Stocks Are About To Hit Overdrive — And Wall Street&#8217;s Getting Excited </a></li>
</ul>



Photo: Shutterstock

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Wall Street Sets New Records As Magnificent Seven Valuation Tops $18.5 Trillion: This Week In Markets

Cryptocurrency markets are trading sideways on Friday as Bitcoin continues to trade below the $118,000 mark.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Ticker</td><td>Price</td></tr><tr><td>Bitcoin</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>$117,506.77</td></tr><tr><td>Ethereum</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>$3,583.13</td></tr><tr><td>Solana</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td><td>$178.23</td></tr><tr><td>XRP</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td><td>$3.45</td></tr><tr><td>Dogecoin</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>$0.2352</td></tr><tr><td>Shiba Inu</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>$0.00001477</td></tr></tbody></table></figure>



Notable Statistics:



<ul class="wp-block-list">
<li>IntoTheBlock data shows large transaction volume and daily active addresses increasing by 13.4% and 12.4% respectively. Transactions greater than $100,000 are up from 11,451 to 12,641 in a single day. Exchanges netflows are down by 77.7%.</li>



<li>Coinglass data shows 190,589 traders were liquidated in the past 24 hours for $909.36 million.</li>



<li>The top gainers/losers in the past 24 hours include Pump.fun (CRYPTO: PUMP), SPX6900 (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">SPX</a>) and Fartcoin (CRYPTO: FARTCOIN)</li>
</ul>



Notable Developments:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46497183/first-strategy-now-mei-pharma-litecoin-joins-bitcoin-as-treasury-asset">First Strategy, Now MEI Pharma: Litecoin Joins Bitcoin As Treasury Asset</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46494778/67m-for-more-eth-bit-digital-expands-its-ethereum-treasury-beyond-120000-coins">$67M For More ETH: Bit Digital Expands Its Ethereum Treasury Beyond 120,000 Coins</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46489126/another-1-1-billion-is-this-bitcoin-ethereum-etf-buying-spree-sustainable">Another $1.1 Billion: Is This Bitcoin, Ethereum ETF Buying Spree Sustainable?</a></li>



<li><a href="https://www.benzinga.com/trading-ideas/movers/25/07/46494592/coinbase-stock-soars-to-all-time-high-on-landmark-crypto-legislation">Coinbase Stock Soars To All-Time High On Landmark Crypto Legislation</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46491139/donald-trump-jr-backed-thumzup-media-approves-250m-in-bitcoin-ethereum-xrp-sol-dogecoin-treasury-purchases">Donald Trump Jr-Backed Thumzup Media Approves $250M In Bitcoin, Ethereum, XRP, SOL, Dogecoin Treasury Purchases</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46487109/ripple-ceo-hails-genius-act-as-transformational-legislation-compares-it-to-dodd-frank-act-this-moment-is-a-historic-one">Ripple CEO Hails GENIUS Act As &#8216;Transformational Legislation,&#8217; Compares It To Dodd-Frank Act: &#8216;This Moment Is A Historic One&#8217;</a></li>
</ul>



Trader Notes: Crypto trader Jelle emphasized the importance of a weekly breakout for Bitcoin, suggesting it could trigger a surge in bullish momentum or mark a key trend reversal. 



He expressed growing excitement about the upside potential if BTC can break from its current range.



<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">I wouldn&#39;t underestimate the power of a weekly breakout &#x1f440;<a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/8ntAMVZcOJ">pic.twitter.com/8ntAMVZcOJ</a>&mdash; Jelle (@CryptoJelleNL) <a href="https://twitter.com/CryptoJelleNL/status/1946213781786259953?ref_src=twsrc%5Etfw">July 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



In another X post, Jelle <a href="https://x.com/CryptoJelleNL/status/1946160697781416109">pointed</a> out that Bitcoin may remain range-bound over the weekend, but a sharp breakout could occur early next week. 



He warned that such a move could lead to a temporary pullback in altcoins, creating ideal dip-buying opportunities, a classic sign of capital rotating back into Bitcoin.



CrediBULL Crypto analyzed analyzed Bitcoin's Elliott Wave structure, noting that the 4th subwave correction appears near completion. 



According to him, the impulsive 5th wave, typically a strong upward move, is still in play, hinting at an imminent breakout once this consolidation resolves.



<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">Still missing that impulsive 5th subwave here&#8230;4th should be wrapping up soon&#8230;<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://t.co/QOY0DTbH5Q">https://t.co/QOY0DTbH5Q</a> <a href="https://t.co/EUz372ep5D">pic.twitter.com/EUz372ep5D</a>&mdash; CrediBULL Crypto (@CredibleCrypto) <a href="https://twitter.com/CredibleCrypto/status/1946272009362543044?ref_src=twsrc%5Etfw">July 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Bitcoin.com News <a href="https://x.com/BTCTN/status/1946270646247248207">reported</a> that Bitcoin dominance has slipped to a 4-month low, even as Ethereum, XRP, and other altcoins surge. 



This signals that traders are rotating profits from Bitcoin's all-time highs into altcoins, a typical hallmark of a summer altcoin season. 



While Bitcoin is still expected to rally again, the current price action favors alts in the short term.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/25/07/46476705/are-you-up-on-your-bitcoin-eth-xrp-holdings-take-out-enough-prominent-whale-cautions">Are You Up On Your Bitcoin, ETH, XRP Holdings? &#8216;Take Out Enough,&#8217; Prominent Whale Cautions</a></li>
</ul>

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$BTC

$DOGE

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$SHIB

$SOL

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Bitcoin Stuck Below $118,000 As Ethereum, XRP, Dogecoin Extend Gains

Dividend stocks are struggling this year, but savvy income-minded investors can still find some good deals.



According to the S&amp;P Dow Jones Indices, U.S. common dividend increases were $9.8 billion in the second quarter of 2025, down 49.8% from $19.5 billion in Q1 2025 and down 52.1% from $20.4 billion in Q2 2024.



&#8220;Dividend growth declined in Q2 2025, as concern over forward cash commitment was inhibited by the uncertainty over tariffs and their impact on sales, costs, and the general economy,&#8221; said Howard Silverblatt, senior index analyst at S&amp;P Dow Jones Indices.



Overall, companies continued to increase their dividends, albeit with more minor annual boosts for firms. &#8220;On the other hand, for the companies not on a perceived schedule, many appeared to put off their actions for now,&#8221; Silverblatt said.



Having said that, prospects for dividend growth look brighter for the rest of 2025, according to S&amp;P, and that&#8217;s good news for sector investors who count on stable dividend payouts to fortify their portfolios.



&#8220;The payment of a dividend plays a meaningful role in portfolio strategy,&#8221; said Tim Thomas, chief investment officer at Badgley Phelps Wealth Managers in Seattle, Washington. &#8220;Dividends provide investors with income, allowing them to access cash without needing to sell their shares at potentially inopportune times. Dividends also provide a consistent source of cash, even during periods of volatility, allowing investors to reinvest at more attractive valuations.&#8221;



<h2 class="wp-block-heading">The 10X Strategy Revealed &#8211; Free Live Event Wednesday</h2>



Professional investors don't guess which stocks will explode &#8211; they use proven systems to identify them early. See Tim Melvin's 35-year approach plus Anne-Marie Baiynd's strategies for maximizing returns. Live collaboration for the first time ever. Register <a href="https://events2.benzinga.com/next-10x-winner/?utm_campaign=072325-webinar&amp;el=ResearchDaily&amp;he={{email}}&amp;adt_ei={{email}}&amp;utm_adType=SponsorAd&amp;utm_ad=RD072125">HERE</a> For Free.



<h2 class="wp-block-heading">Three Solid Dividend Stocks Right Now</h2>



Investors seeking stellar dividend deals can take a cue from wealth managers, who point to several bargains for income-minded investors, with these three names at the top of the list.



<h3 class="wp-block-heading">Walmart</h3>



Dividend Yield: 0.99%



Currently, there are interesting opportunities in dividend-paying companies that are quietly integrating AI into their operations. &#8220;While the market chases high-multiple, pure-play AI names, many established businesses with strong fundamentals are being overlooked,&#8221; said Joseph Zappia, co-chief investment officer at LVW Advisors in Pittsford, New York.



Zappia points to Walmart (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>), which is leveraging AI for inventory management, supply chain efficiency, and customer service. &#8220;Despite being a &#8216;Dividend King&#8217; with over five decades of increases, it&#8217;s undervalued because it&#8217;s still seen as a traditional retailer,&#8221; he noted.



<h3 class="wp-block-heading">Verizon</h3>



Dividend Yield: 6.62%



Market experts also note that while the dividend yield itself is a significant feature, the ability to sustain and grow that dividend in the future is equally crucial.



&#8220;If a company&#8217;s revenues are shrinking, highly cyclical, or the dividend itself is a major portion of the overall profits, the dividend could likely be cut or suspended at some point in a capital restructuring,&#8221; said Karl Farmer, vice president and portfolio manager at Massachusetts-based Rockland Trust. &#8220;We look for companies that have raised dividends consistently every year without cuts. This, accompanied by the ability to keep paying, are typically a good indicator of stability.&#8221;



One of Farmer&#8217;s favorites is Verizon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>), which boasts a sturdy 6.60% dividend yield, and &#8220;steady cash flows from sticky customer base, low-growth, but high-consistency and dividend stability,&#8221; he noted.



VZ also fits the template of a good dividend stock, featuring an attractive yield and trading at reasonable valuations, as the spotlight remains on newer AI entrants. &#8220;Verizon benefits from edge computing tied to AI demand,&#8221; Zappia said.



<h3 class="wp-block-heading">UnitedHealth Group</h3>



Dividend Yield: 3.07%



UnitedHealth (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) has increased its dividend rate for 16 consecutive years, with an annual rate of 3.07%, paying $8.84 per share.



&#8220;A 50% stock hit has presented a 3% yield for United Health shareholders,&#8221; Farmer said. &#8220;Utilization and pricing will be addressed next year, and the dividend is a small part of the overall profits. Right now, UNH offers a great opportunity to collect income and a stock rebound could reward shareholders.&#8221;



<h2 class="wp-block-heading">Sector Outlook For The Rest Of 2025</h2>



Dividend growth should grow slowly but finish strong for the second half of the year.



&#8220;Given the speed and expected implementation of the current legislative changes from Washington, as well as an expected resolution to the tariff situation later this year (first through temporary extensions of the July 9 deadlines), companies may continue their uncertainty over economics,&#8221; Silverblatt noted.



Once policies become clear, companies &#8220;will be in a better position&#8221; to adjust their business plans and commit to dividends, he noted.



&#8220;Working with a base case for a higher-level resolution, the second half of 2025 could be stronger than historical averages for dividends,&#8221; Silverblatt added. &#8220;Q3 is expected to start out with an improvement from big banks as they continue to increase their dividends, helped by the Fed&#8217;s recent positive stress test results; the third quarter has the potential to set a new quarterly dividend payment record.&#8221;



Over the year, the S&amp;P 500 is expected to post a record dividend payment, with a 6% increase in dividend payments. &#8220;That&#8217;s down from the pre-2025 8% expectation; for 2024 dividend payments increased 6.4% and in 2023 5.1%,&#8221; Silverblatt said.



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

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3 Dividend Bargains For The Rest Of 2025

Bank of America analysts are ramping up expectations for Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) and Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), forecasting above-consensus earnings on strong artificial intelligence tailwinds, ad recovery and robust enterprise software demand heading into quarterly <a href="https://www.benzinga.com/earnings">results later this month.</a>



<h3 class="wp-block-heading">Alphabet Expected To Outperform On Search and FX Tailwinds</h3>



Alphabet reports its second-quarter results on July 23, and Bank of America analyst Justin Post said the stock looks well-positioned to beat expectations, driven by ad strength, macroeconomic tailwinds, and product monetization improvements from AI.



Post revised its revenue and earnings estimate to $81 billion and $2.21 per share, up from prior forecasts of $80 billion and $2.15. Wall Street consensus sits lower at $79.5 billion and $2.15.



Alphabet's core search revenue is expected to rise 11% year-over-year, ahead of Street estimates of 9%.



Search revenue has been the most closely watched—and arguably the most feared—metric for investors, as the rise of AI platforms threatens to bypass traditional search engines and disrupt Google&#8217;s core business model.



"We think Street estimates for Search… have upside," Post said, citing stable spending trends and FX that could add two points of growth. 



He also indicated that the company's AI-driven features, like AI Overviews and AI Mode, are reducing click volumes but improving conversion rates, which is ultimately a monetization win.



Cloud revenue is forecasted at $13.2 billion, modestly above the $13.1 billion Street view, with additional upside potential from price hikes in Workspace. 



Post raised the price target from $200 to $210, implying a 14% upside from current levels. The analyst flagged that Alphabet trades at an attractive 12x multiple on 2026 core Google earnings, compared to 21x for the S&amp;P 500.



Alphabet stock is up 10% since its I/O conference on May 20, but remains down 2.4% year-to-date. Notably, Alphabet has underperformed compared to the Roundhill Magnificent Seven ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NYSE">MAGS</a>), which has risen 5% year-to-date.



<h3 class="wp-block-heading">Microsoft Gets Lift from Azure Strength And Copilot Uptake</h3>



Microsoft reports its fiscal fourt-quarter results on July 30, and the firm analyst Brad Sills said checks with partners show steady demand trends, particularly for Azure and enterprise software like Office.



Azure is projected to grow 35.5% year-over-year in constant currency, driven by cloud migrations, security needs, and AI services.



In Microsoft's productivity and business processes segment, Office growth could reach 15% versus the previously guided 14%, thanks to commercial upgrades and the growing adoption of Copilot, Microsoft's generative AI assistant. The firm also sees upside in PC shipments, which tracked 7% year-over-year in the second quarter, outperforming the 4% expected.



Looking further ahead, Sills expects Microsoft's revenue to grow 14% in fiscal 2026, the same pace as in 2025, with Azure taking up a larger share. However, margins might flatten as capital expenditures (capex) ramps—forecasted to hit $99.1 billion, roughly 31% of revenue.



Sills said the next big test will be whether Copilot drives incremental top-line growth. 



"While an inflection quarter is unlikely, we believe Copilot has potential to drive incremental growth as we move through FY26."



Microsoft stock has rallied 22% in 2025, trailing only Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)&#8217;s 28% rally in the Magnificent Seven group.



Bank of America reiterated its Buy rating and lifted the price target from $515 to $585, implying a 15% upside from current levels. 



Price Action: Alphabet shares were up 0.62% at $184.71 and Microsoft shares were down 0.32% at $510.08 at the time of publication Friday, <a href="https://www.benzinga.com/pro/" target="_blank" rel="noreferrer noopener">according to Benzinga Pro</a>.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/economic-data/25/07/46477275/wall-street-big-7-are-now-bigger-than-chinas-entire-economy">Wall Street&#8217;s Big 7 Are Now Bigger Than China&#8217;s Entire Economy</a></li>
</ul>



Photo: Shutterstock

MAGS

These Two Magnificent 7 Stocks Are About To Hit Overdrive — And Wall Street's Getting Excited

It&#8217;s a cautious end to the week on Wall Street, as earnings from Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) <a href="https://www.benzinga.com/analyst-stock-ratings/reiteration/25/07/46498606/netflixs-blockbuster-profits-overshadowed-by-anemic-engagement">failed to impress investors</a>. 



Meanwhile, continued trade tensions kept investors on the sidelines, preventing further gains in tech-heavy indexes already <a href="https://www.benzinga.com/markets">sitting near record levels.</a>



The S&amp;P 500 remained pinned near the 6,300 mark, a key level it has failed to decisively break for the past two weeks. 



The Nasdaq 100 edged down to 23,040, while the Dow Jones Industrial Average slipped 250 points, or 0.5%, by midday trading in New York.



According to the Financial Times, President Donald Trump is pushing for a sweeping 15% to 20% minimum tariff on all European Union goods. He is also rejecting any cut to the current 25% duties on EU car imports. Trump has signaled that if no deal is reached by Aug. 1, a 30% blanket tariff on EU imports could be imposed.



Despite the downbeat tone on Wall Street, fresh data on Main Street offered some positive signals. 



The University of Michigan's consumer sentiment index came in at a five-month high for June. One-year inflation expectations fell to 4.4%, down from 5% in the prior month, easing concerns that tariffs are stoking broader price pressures.



In Fed talks, Federal Reserve Governor Christopher Waller affirmed his support for a July rate cut. He said he may dissent if the Federal Open Market Committee chooses to keep rates unchanged, adding to signs of internal division within the Fed ahead of the July 30 meeting.



In commodities, gold rose 0.4% to $3,360 per ounce as the U.S. dollar weakened



In crypto, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell 1.7% to $117,000 levels. The cryptocurrency is on track for a weekly decline after hitting record highs above $123,000 earlier in the week.



<h2 class="wp-block-heading">Friday&#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>% Chg</td></tr><tr><td>S&amp;P 500</td><td>6,294.04</td><td>0.0%</td></tr><tr><td>Nasdaq 100</td><td>23,047.36</td><td>-0.1%</td></tr><tr><td>Dow Jones</td><td>44,283.74</td><td>-0.5%</td></tr><tr><td>Russell 2000</td><td>2,244.44</td><td>-0.5%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 12:43 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>) eased 0.1% to $576.48.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) dipped 0.6% to $442.64.</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;eased 0.2% to $560.92.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.6% to $222.57.</li>



<li>The&nbsp;Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) outperformed, up 1.7%; the&nbsp;Energy&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down 0.8%.</li>
</ul>



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



<ul class="wp-block-list">
<li>Netflix fell 5%, heading for its worst session in over three months, as upbeat earnings were overshadowed by a disappointing outlook despite beating Wall Street's revenue and profit forecasts.</li>



<li>Other earnings-driven movers included American Express Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>), down 2.8%, Charles Schwab Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>), up 2.5%, Interactive Brokers Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBKR#NASDAQ">IBKR</a>), up 6.3%, Truist Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>), down 1%, 3M Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>), down 4.5%, Schlumberger NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>), down 3.8%, Huntington Bancshares Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HBAN#NASDAQ">HBAN</a>), down 1.8%, and Ally Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>), down 1.9%.</li>



<li>Invesco Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVZ#NYSE">IVZ</a>) jumped 14% Friday after filing to convert its flagship QQQ Trust Series 1 into an open-end fund, a move that would finally allow the firm to earn revenue from the $250 billion ETF. The regulatory shift marks a potential turning point for Invesco, which currently makes no profit from managing the popular tech-focused fund.</li>



<li>Sarepta Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRPT#NASDAQ">SRPT</a>) plunged 26% after reports that another patient died following treatment with its experimental gene therapy.</li>



<li>Talen Energy Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLN#NASDAQ">TLN</a>) rallied 25% after reaching agreements to acquire two Caithness Energy gas-fired power plants for $3.5 billion.</li>
</ul>



Now Read:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46491573/waller-fed-chair-trump-rate-cut-july">Trump&#8217;s Fed Pick? He&#8217;s Cutting First, And Cutting Powell Out </a></li>
</ul>



Image: Shutterstock

Broad U.S. Equity ETFs

ETFs

ALLY

HBAN

IBKR

NFLX

SCHW

SRPT

TLNE

Stocks Slip As Netflix Fails To Impress, Bitcoin Eyes Negative Week:  What's Moving Markets Friday?

Federal Reserve Governor Christopher Waller made his most assertive case yet for a July rate cut—and signaled he's ready to take Jerome Powell's seat if <a href="https://www.benzinga.com/topic/donald-trump">President Donald Trump asks.</a>



Speaking Friday on Bloomberg TV, Fed&#8217;s Waller joined fellow policymaker Michelle Bowman in backing a July rate cut—an implicit alignment with Trump's push for looser monetary policy.



Not only did Waller back a rate cut for the upcoming July meeting, he also said he would accept the job as Federal Reserve Chair in 2026 if offered.



His remarks follow a tense week in Washington as speculation mounts <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46454852/trump-fed-powell-odds-inflation-markets">over Powell's future. </a>



<h3 class="wp-block-heading">Waller Says He's Ready To Cut Now&#8230;</h3>



&#8220;I laid out my case. I don&#8217;t think I could be any more clear,&#8221; Waller said when asked how he plans to vote in July.



He warned of fragile underlying labor market data as a reason to ease rates now. While headline numbers look stable, he likened the private sector's condition to "walking on ice that's starting to crack."



"Half of the job growth last month came from the public sector," he said. "When you dig into the data, the private sector is flat. CEOs aren't hiring or firing—they're just waiting."



Waller also dismissed the idea that waiting six more weeks until September would make a meaningful difference, suggesting that the Fed should act preemptively rather than risk falling behind.



Waller downplayed the inflationary impact of tariffs, aligning with economic theory that suggests one-time price shocks don't generate persistent inflation. 



He estimated that a hypothetical 10% tariff might only lift the inflation rate by 0.3 percentage points in the short term before fading.



"The rule of thumb is: one-third of the cost hits suppliers, one-third firms, and one-third consumers," he said. 



"These effects show up in the three- to six-month data—not in long-term expectations."



He added that market-based inflation expectations remain anchored, indicating that investors have largely dismissed recent political noise, at least for now.



<h3 class="wp-block-heading">&#8230;And Ready To Take Fed&#8217;s Job Later</h3>



When asked if he would accept the Fed's top job, he responded: "If the president contacted me and said, ‘I want you to serve,' I would do it.&#8221;



While he noted that Trump hasn't reached out, prediction markets are already taking notice. 



According to CFTC-regulated betting platform Kalshi, Waller currently holds a 14% chance of becoming the next Fed Chair, behind Kevin Hassett at 31% and Kevin Warsh at 30%, but ahead of Treasury Secretary Scott Bessent, at 12%, and Judy Shelton, at 9%.



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



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



Waller's remarks fueled a drop in the U.S. dollar and lifted gold prices, as traders increased bets on near-term rate cuts. 



On Thursday, the S&amp;P 500—tracked by the Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>)—closed near record highs at 6,300 points.



Market-implied odds of a 25-basis-point rate cut in September rose to 60%, up from 52% the previous day, according to the CME FedWatch Tool.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/economic-data/25/07/46477275/wall-street-big-7-are-now-bigger-than-chinas-entire-economy">Wall Street&#8217;s Big 7 Are Now Bigger Than China&#8217;s Entire Economy </a></li>
</ul>



Image created using artificial intelligence via Midjourney.

Econ #s

Trump's Fed Pick? He's Cutting First, And Cutting Powell Out

Sarepta Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRPT#NASDAQ">SRPT</a>) shares plummeted on Friday following reports of a third patient death linked to its gene therapy pipeline this year, further clouding investor confidence despite the company&#8217;s recent efforts to provide clarity on its <a target="_blank" href="https://www.benzinga.com/news/fda/25/07/46473418/sarepta-therapeutics-reorganization-boosts-investor-confidence" rel="noreferrer noopener">restructuring</a> and FDA label plans.



The <a target="_blank" href="https://www.statnews.com/2025/07/18/sarepta-gene-therapy-muscular-dystrophy-limb-girdle-patient-death/" rel="noreferrer noopener">latest</a> fatality, a 51-year-old man participating in a clinical trial for SRP-9004, the company&#8217;s gene therapy for the treatment of limb-girdle muscular dystrophy (LGMD) type 2D/R3, suffered acute liver failure, a cause of death also reported in two earlier fatalities associated with Sarepta&#8217;s approved <a target="_blank" href="https://www.benzinga.com/news/fda/25/06/45945282/sarepta-therapeutics-stock-plummets-over-40-on-second-fatal-case-linked-to-its-gene-therapy" rel="noreferrer noopener">Duchenne muscular dystrophy treatment</a>, Elevidys.



The update was <a target="_blank" href="https://www.biocentury.com/article/656520/third-death-from-a-sarepta-gene-therapy" rel="noreferrer noopener">first</a> reported by the BioCentury website on Thursday.



Also Read: <a target="_blank" href="https://www.benzinga.com/news/fda/25/06/45945282/sarepta-therapeutics-stock-plummets-over-40-on-second-fatal-case-linked-to-its-gene-therapy" rel="noreferrer noopener">Sarepta Therapeutics Stock Plummets Over 40% On Second Fatal Case Linked To Its Gene Therapy</a>



Just a day before, the investors cheered as the company issued an update on ongoing label expansion efforts for Elevidys (delandistrogene moxeparvovec-rokl).



In response to these safety concerns, the U.S Food and Drug Administration (FDA) has requested that the label include a black box warning for acute liver injury (ALI) and acute liver failure (ALF), a change with which Sarepta has agreed.



This agreement appears to resolve any major issues with the label for the ambulant portion of the Elevidys patient population. In June, Sarepta temporarily suspended shipments of Elevidys for <a target="_blank" href="https://www.benzinga.com/news/fda/25/06/45945282/sarepta-therapeutics-stock-plummets-over-40-on-second-fatal-case-linked-to-its-gene-therapy" rel="noreferrer noopener">non-ambulatory patients</a>. Both previous Elevidys-related deaths involved non-ambulatory teenage boys.



Notably, the company did not disclose the third patient death in its recent business update. However, Sarepta reported it planned to deprioritize the development of its LGMD franchise, with the exception of SRP-9003 for LGMD 2E/R4, suggesting the patient death could have played a role in the company&#8217;s pipeline reprioritization.



Sarepta reprioritized its pipeline and paused several programs, including gene therapies in development for limb-girdle muscular dystrophy (LGMD). Sarepta is expected to submit the Biologics License Application for SRP-9003 for LGMD type 2E/R4 later this year.



William Blair analysts, commenting on the situation, noted that the patient death is &#8220;unfortunate and concerning, particularly since it occurred with one of the company&#8217;s other gene therapies.&#8221;



They suggested that, given the patient&#8217;s age, the acute liver failure was likely also caused by high-dose, systemic adeno-associated virus (AAV) delivery, a common vector for gene therapies.



Analyst Sami Corwin emphasized the uncertainty surrounding whether Sarepta will release more information about this latest patient death or when the FDA might respond to the broader safety concerns.



Despite the halted development of SRP-9004, Corwin added in an investor note on Friday that this incident could still raise concerns about the safety of SRP-9003 as it progresses toward potential approval, potentially impacting its commercial appeal.



The death in the LGMD trial might also increase patient hesitancy to use the already approved Elevidys and could further diminish overall investor confidence in Sarepta.



Due to ongoing doubts about the long-term success of Sarepta&#8217;s gene therapy and PMO platform programs, William Blair sees limited short-term upside on the stock and maintains <a target="_blank" href="https://www.benzinga.com/quote/SRPT/analyst-ratings" rel="noreferrer noopener">a Market Perform rating</a>.



Bank of America Securities also remains Neutral on Sarepta Therapeutics, lowering its price target from $28 to $20. Oppenheimer, while maintaining an Outperform rating for Sarepta Therapeutics, has similarly lowered its price forecast from $45 to $41.



Price Action: SRPT stock is trading lower by 15.5% to $18.57 at last check Friday.



Read Next:



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<li><a href="https://www.benzinga.com/m-a/25/07/46493214/exxons-block-fails-chevron-seals-53-billion-hess-deal-after-ruling" target="_blank" rel="noreferrer noopener">Exxon&#8217;s Block Fails—Chevron Seals $53 Billion Hess Deal After Ruling</a></li>
</ul>



Photo via Shutterstock

Biotech

Health Care

Price Target

Movers

General

Sarepta's Setback Deepens With Another Gene Therapy Fatality

American Express Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>) reported <a href="https://www.benzinga.com/topic/american-express">fiscal second-quarter 2025 results</a> on Friday, surpassing analyst estimates for both revenue and adjusted earnings per share.



The company reported quarterly revenue (net of interest expense) growth of 9% year-over-year to $17.86 billion, topping the <a href="https://ir.americanexpress.com/financials/earnings-and-sec-filings/default.aspx" target="_blank" rel="noreferrer noopener">analyst consensus estimate</a> of $17.71 billion. 



The revenue increase was primarily driven by strong Card Member spending, higher net interest income supported by growth in revolving loan balances, and accelerated card fee growth.



Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-stock-ratings/reiteration/25/06/46174274/american-express-capital-one-pass-feds-stress-test" rel="noreferrer noopener">American Express, Capital One Pass Fed&#8217;s Stress Test</a>



Adjusted EPS also exceeded projections, coming in at $4.08 against an <a href="https://www.benzinga.com/calendars/earnings">analyst consensus</a> of $3.87.



Delving into segments, Card Member spending, or Billed Business, rose 7% year-over-year to $416.3 billion. U.S. Consumer Services revenue climbed 10.6% to $8.55 billion, while Commercial Services revenue increased 6.5% to $4.21 billion. 



International Card Services saw a 14.5% jump to $3.23 billion, and Global Merchant and Network Services revenue grew 3.2% to $1.93 billion. Net card fees surged 20% year-over-year to $2.48 billion.



Total expenses, however, increased by 14% year-over-year to $12.9 billion, largely due to higher variable customer engagement costs. Provisions for credit losses also rose to $1.4 billion from $1.3 billion a year ago, reflecting a higher net reserve build and increased net write-offs, driven by growth in total loans and Card Member receivables.



CEO Stephen J. Squeri highlighted record Card Member spending during the quarter, strong demand for American Express&#8217;s premium products, and compelling credit performance. Squeri expressed confidence in maintaining the company&#8217;s leadership in the premium segment, citing the upcoming refresh of U.S. Consumer and Business Platinum Cards, along with its differentiated membership model and product innovation, as key drivers for future growth.



<h2 class="wp-block-heading">FY25 Outlook</h2>



American Express reiterated its <a href="https://www.benzinga.com/news/earnings/25/04/44862333/american-express-q1-card-spending-strong-ceo-maintains-annual-outlook-contingent-on-economic-climate">full-year 2025</a> revenue outlook of $71.22 billion to $72.54 billion, representing an 8%-10% year-over-year increase, aligning with the analyst consensus estimate of $71.31 billion. 



The company also reaffirmed its EPS guidance of $15.00–$15.50, consistent with the <a href="https://www.benzinga.com/calendars/guidance">analyst consensus</a> of $15.23, subject to the macroeconomic environment.



Price Action:&nbsp;As of the last check on Friday, AXP stock was up 1.47% in premarket trading at $320.00.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/large-cap/25/07/46365557/visa-vs-mastercard" target="_blank" rel="noreferrer noopener">Visa And Mastercard Remain Top Picks, But One May Outpace Growth</a></li>
</ul>



Image via Shutterstock

Earnings

Guidance

Amex Q2 Card Member Spending Hits Record, Card Fees Soar

<a href="https://www.benzinga.com/money/what-is-ethereum-etf">Spot Ethereum ETFs</a> recorded a net inflow of $602 million on July 17, marking the second-highest single-day inflow in history.



The inflow surpassed that of Bitcoin spot ETFs, which saw $523 million in net inflows on the same day, their 11th consecutive day of positive flow, according to <a href="https://sosovalue.com/assets/etf/us-btc-spot">data</a> from SoSoValue.



Combined, U.S. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) spot ETFs have amassed $54.3 billion and $7.09 billion in cumulative net inflows, respectively.



What Happened: The surge in investor appetite comes amid renewed market optimism, robust macroeconomic indicators, and mounting regulatory clarity, themes echoed across institutional research from Glassnode and Coinbase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>).



The dramatic capital rotation into ETH products aligns with a broader shift noted by analysts. "BTC is participating, but this rally belongs to ETH," said Dr. Sean Dawson, Head of Research at Derive.xyz. "The technical setup, option flows, and liquidations all point to a meaningful structural shift in positioning."



Ethereum ETFs also led in total value traded on July 17, reaching $2.29 billion, compared to Bitcoin's $3.7 billion, as tracked across major issuers like BlackRock, Grayscale, Fidelity, and Ark Invest. 



Notably, BlackRock&#8217;s Ethereum ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETHA#NASDAQ">ETHA</a>) recorded the largest daily net inflow of $546.7 million and holds over $8.4 billion in net assets.



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46463794/1-5-billion-in-one-day-why-bitcoin-and-ethereum-etfs-are-running-wild">$1.5 Billion In One Day: Why Bitcoin And Ethereum ETFs Are Running Wild</a>



From a macro and on-chain lens, the report by Coinbase and Glassnode highlights that Ethereum's liquid supply rose 8% in Q2, while illiquid supply — coins held for over a year — declined by 6%. 



Concurrently, ETH's MVRV (Market Value to Realized Value) ratio swung from negative in Q1 to positive in Q2, confirming improving profitability among holders. 



The share of ETH in profit rose from under 40% to nearly 90% during the quarter.



"With macro tailwinds, falling rates, and ETF momentum aligning, the back half of 2025 is setting up to be Ethereum's strongest in years," Dr. Dawson added.



Bitcoin, meanwhile, maintained strong institutional demand. 



As noted in the Glassnode report, U.S. spot Bitcoin ETFs purchased over 225% of all newly mined BTC since January 2024, reflecting relentless buying pressure against a structurally constrained supply.



What&#8217;s Next: While Bitcoin&#8217;s ETF net assets remain dominant at $154.6 billion, Ethereum's growing share is being closely watched.



Ethereum spot ETFs now represent 4.19% of total ETH market cap, compared to 6.51% for Bitcoin.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/25/07/46452094/trump-wishes-bitcoin-ethereum-xrp-happy-crypto-week-it-is-all-part-of-make-america-great-again">Trump Wishes Bitcoin, Ethereum, XRP &#8216;Happy Crypto Week!&#8217; — &#8216;It Is All Part Of Make America Great Again&#8217;</a></li>
</ul>



Image: Shutterstock

COIN

ETHA

Another $1.1 Billion: Is This Bitcoin, Ethereum ETF Buying Spree Sustainable?

Deutsche Bank has significantly raised its stock price target for MP Materials Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MP#NYSE">MP</a>) following a strategic investment from the Defense Department and a substantial contract with Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>).



What Happened: Deutsche Bank has more than tripled its stock price target for MP Materials, a rare-earth miner. The company&#8217;s shares are now projected to rise to $67, a substantial increase from the previous target of $20. This new target suggests an 11.18% upside from the closing price of $60.26 per share on Thursday, as <a href="https://www.cnbc.com/2025/07/17/mp-materials-defense-department-pentagon-apple-rare-earth-critical-mineral.html">reported</a> by CNBC.



The Pentagon&#8217;s strategic investment in MP Materials and Apple&#8217;s $500 million deal to purchase rare earth magnets from the company have significantly reduced the company&#8217;s operational risks, according to Deutsche Bank analyst&nbsp;Corinne Blanchard.



Blanchard stated, &#8220;The&nbsp;stock has now priced in&nbsp;the catalyst, and other potential&nbsp;catalysts are on the medium-term,&#8221; as she maintained the hold rating on MP.



See Also:&nbsp;<a href="https://benzinga.com/news/topics/25/07/46483073/bill-gates-says-elon-musk-was-super-mean-after-he-shorted-tesla-stock-but-hes-super-mean-to-so-many-p" target="_blank" rel="noopener">Bill Gates Says Elon Musk Was &#8216;Super Mean&#8217; After He Shorted Tesla Stock — &#8216;But He&#8217;s Super Mean to So Many People&#8217;</a>



Why It Matters: The rare earth minerals industry has been under the spotlight due to the U.S. government&#8217;s efforts to reduce its reliance on Chinese supply. This has led to a surge in the stock prices of companies in the <a href="https://www.benzinga.com/trading-ideas/movers/25/07/46429330/why-usa-rare-earth-usar-stock-is-skyrocketing-today">domestic critical minerals sector</a>, such as&nbsp;USA Rare Earth Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/USAR#NASDAQ">USAR</a>)



Despite the challenges, experts believe that the U.S. has&nbsp;multiple options to establish a <a href="https://www.benzinga.com/markets/25/04/45005825/us-has-tons-of-solutions-to-secure-rare-earth-production-if-china-halts-exports-experts-say-but-warn-of-significant-challenges">domestic supply chain</a> for rare earths&nbsp;within the next five years to replace China&#8217;s global monopoly. This includes substitutes for the seven restricted rare earths and the majority of the 17 rare earth elements and 50 critical minerals being present in the U.S.



As the U.S. faces a critical vulnerability in its supply chain concerning <a href="https://www.benzinga.com/markets/equities/25/07/46214341/china-showed-its-death-grip-on-rare-earths-during-trump-tariff-war-but-craig-shapiro-says-this-2-billion-plan-will-secure-us-supply-heres-how">rare earth supply</a>, economist&nbsp;Craig Shapiro&nbsp;asserts that this situation is fixable, and at a surprisingly manageable cost. This is evident in the recent developments at MP Materials, which have positioned the company as a strategic asset for the U.S.



Price Action: Apple closed Thursday at $210.02, slipping 0.06%, and edged up 0.10% in after-hours trading. MP Materials finished the day at $60.26, rising 2.92%, with an additional 0.56% gain after hours, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://benzinga.com/crypto/cryptocurrency/25/07/46479649/xrp-smashes-all-time-high-as-bitcoin-reclaims-119000-and-dogecoin-ethereum-continue-climb" target="_blank" rel="noopener">XRP Smashes All-Time High As Bitcoin Reclaims $119,000 And Dogecoin, Ethereum Continue Climb</a></li>
</ul>



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



Image via shutterstock

USAR

Apple's $500 Million Rare Earth Deal With MP Materials Pushes Deutsche Bank To Triple Price Target — Analyst Says Catalyst 'Priced In'

U.S. stock futures were positive on Friday after ending higher on Thursday. Futures of major benchmark indices were higher.



Investor nerves eased after President Donald Trump denied reports suggesting he was considering the removal of Federal Reserve Chair Jerome Powell.



Retail sales rebounded in June, rising 0.6% month-over-month after a revised 0.9% drop in May, far exceeding consensus expectations of a 0.1% gain.



Investors await American Express Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>) and Charles Schwab Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) earnings, scheduled to be released today.



Meanwhile, the 10-year Treasury bond yielded 4.44% and the two-year bond was at 3.89%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections show markets pricing a 97.4% 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>0.17%</td></tr><tr><td>S&amp;P 500</td><td>0.15%</td></tr><tr><td>Nasdaq 100</td><td>0.15%</td></tr><tr><td>Russell 2000</td><td>0.12%</td></tr></tbody></table></figure>



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, were slightly higher in premarket on Friday. The SPY was up 0.16% at $629.07, while the QQQ advanced 0.18% to $562.79, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From Last Session:



Stocks in the financial, information technology, and consumer staples sectors recorded the biggest gains on Thursday, contributing to a higher close for U.S. stocks, with the S&amp;P 500 reaching a fresh closing record. Conversely, health care and real estate stocks ended the session lower, bucking the overall market trend.



PepsiCo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) shares climbed over 7% following better-than-expected earnings, while United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) shares added more than 3% after the airline topped earnings estimates.



On the economic data front, U.S. initial jobless claims declined by 7,000 from the previous week to 221,000 in the recent week, compared to market expectations of 235,000.



<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>0.75%</td><td>20,885.65</td></tr><tr><td>S&amp;P 500</td><td>0.54%</td><td>6,297.36</td></tr><tr><td>Dow Jones</td><td>0.52%</td><td>44,484.49</td></tr><tr><td>Russell 2000</td><td>1.20%</td><td>2,253.68</td></tr></tbody></table></figure>



Insights From Analysts:



A key takeaway for investors, according to Scott Wren, Senior Global Market Strategist at Wells Fargo Investment Institute, is the certainty of rising tariffs on numerous U.S. trading partners in the near and intermediate terms. While the recent &#8220;One Big Beautiful Bill Act&#8221; momentarily sidelined trade concerns, tariffs are firmly back on the policy agenda.



As the second-quarter earnings season unfolds, corporate profitability will be under intense scrutiny. Wells Fargo anticipates a mid-single-digit earnings growth rate for the second quarter, a slowdown from the previous quarter, reflecting both a slightly softer economy and the emerging tariff headwinds.



While some companies have benefited from &#8220;buying ahead&#8221; to mitigate tariff impacts, others are now feeling the pressure on their bottom lines.



Wren highlights that S&amp;P 500 companies have generally enjoyed robust operating profit margins, around 14-15% since late 2021, exceeding the long-term average. This provides some capacity to absorb tariff costs. However, investors will be keenly focused on how much of these additional expenses will be passed on to consumers and the ultimate impact on earnings.



Wells Fargo continues to favor Information Technology and Communication Services for their expected strong earnings. They also see improved comparisons later this year and into 2026 for Energy, Utilities, and Financials.



For now, the firm suggests trimming overvalued sectors like Industrials, Consumer Discretionary, and U.S. Small Cap Equities, anticipating better buying opportunities towards the end of the year and into 2026.



Meanwhile, Ryan Detrick from Carson Research highlighted that the S&amp;P 500 made its ninth all-time high on Thursday.



&#8220;Since 1957 (when it became 500 stocks) today was ATH number 1,250,&#8221; he added.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Number nine! Today was the 9th new all-time high of 2025 for the S&amp;P 500. Since 1957 (when it became 500 stocks) today was ATH number 1,250. Congrats to those who followed their investment plan back in April. <a href="https://t.co/SPQXDO7BnD">pic.twitter.com/SPQXDO7BnD</a>&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1945939522044272809?ref_src=twsrc%5Etfw">July 17, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



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



Upcoming Economic Data



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



<ul class="wp-block-list">
<li>June&#8217;s housing starts and building permits data will be out by 8:30 a.m., and preliminary consumer sentiment data for July will be released by 10:00 a.m. ET.</li>
</ul>



Stocks In Focus:



<ul class="wp-block-list">
<li>American Express Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>) was up 0.70% in premarket on Friday as analysts expect it to report earnings of $2.03 per share on revenue of $22.29 billion before the opening bell.</li>



<li>Charles Schwab Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) advanced 1.82% as it is expected to report earnings before the opening bell. Analysts estimate earnings of $1.07 per share on revenue of $5.65 billion.</li>



<li>3M Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>) was up 1.79% as analysts expect it to report earnings of $2.01 per share on revenue of $6.09 billion before the opening bell.</li>



<li>Schlumberger NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) was 1.24% higher as it is expected to report earnings before the opening bell. Analysts estimate earnings of 74 cents per share on revenue of $8.47 billion.</li>



<li>Interactive Brokers Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBKR#NASDAQ">IBKR</a>) rose 4.61% after posting better-than-expected second-quarter results. Its quarterly earnings of 51 cents per share beat the analyst consensus estimate of 45 cents. Quarterly revenue of $1.48 billion beat the Street estimate of $1.36 billion.</li>



<li>Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) fell 1.11% despite beating earnings expectations. It said that it will be interested in partnering with top YouTube creators—but only if their content aligns with the company&#8217;s premium streaming standards and monetization model.</li>



<li>LQR House Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YHC#NASDAQ">YHC</a>) slumped 61.95% after the company announced plans to integrate cryptocurrency and blockchain technology into its business model.</li>



<li>Telomir Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TELO#NASDAQ">TELO</a>) surged 125.62% following the announcement of promising data regarding the company's lead candidate, Telomir-1. The data indicated that Telomir-1 could reverse epigenetic gene silencing, restoring the tumor suppressor in human prostate cancer cells.</li>
</ul>



Commodities, Gold, And Global Equity Markets:



Crude oil futures were trading higher in the early New York session by 0.84% to hover around $68.11 per barrel.



Gold Spot US Dollar rose 0.29% to hover around $3,348.97 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was lower by 0.36% at the 98.3770 level.



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



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/07/46463595/dan-ives-picks-5-stocks-for-2nd-half-of-2025-nvidia-palantir-microsoft-and-more-golden-age-of-tech-is-here-with-ai-revolution">Dan Ives Picks 5 Stocks For 2nd Half Of 2025: Nvidia, Palantir, Microsoft And More: &#8216;Golden Age Of Tech Is Here With AI Revolution&#8217;</a></li>
</ul>



Photo courtesy: Shutterstock

TELO

US Stocks Likely To Open Higher After Scaling Record Close: American Express, 3M, Charles Schwab Earnings In Focus

Elon Musk-led artificial intelligence company, xAI, unveiled new technology that will help the company "sustainably" cool its Memphis data center.



What Happened: Taking to social media platform X on Thursday, the company announced it was constructing "the world's largest ceramic membrane bioreactor (MBR) to sustainably supply 13 million gallons per day of cooling water to our Colossus Supercomputer."



A Membrane Bioreactor is a combination of technologies used in wastewater treatment by microfiltration or ultrafiltration with a biological wastewater treatment process in which biological organisms or enzymes are used to filter the water.



xAI says the cooling apparatus will use untreated wastewater from a nearby wastewater treatment plant to cool the Colossus Supercomputer facility.



<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">xAI continues to lead the way with cutting-edge technology. We have commenced construction on the world's large ceramic membrane bioreactor (MBR) to sustainably supply 13 million gallons per day of cooling water to our Colossus Supercomputer and neighboring industrial plants in… <a href="https://t.co/8JvHEO9mHk">pic.twitter.com/8JvHEO9mHk</a>&mdash; xAI Memphis (@xAIMemphis) <a href="https://twitter.com/xAIMemphis/status/1945844314942165195?ref_src=twsrc%5Etfw">July 17, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Why It Matters: The announcement follows criticism of xAI by environmentalists and rights groups for its use of<a href="https://www.benzinga.com/markets/tech/25/07/46462096/elon-musks-xai-faces-backlash-from-naacp-environmental-groups-over-memphis-data-centers-gas-burning-turbine-permit"> Gas-burning turbines</a> to cool the data center, which critics say increases air pollution in Memphis and disproportionately affects Black-majority communities.



xAI also recently announced <a href="https://www.benzinga.com/markets/tech/25/07/46407767/elon-musks-xai-launches-grok-for-government-after-winning-200-million-pentagon-contract">Grok for Government</a>, after the company won over <a href="https://www.benzinga.com/markets/tech/25/07/46407317/elizabeth-warren-rips-pentagon-deal-with-elon-musks-xai-days-after-company-apologized-for-groks-horrific-behavior-what-could-possibly-go-wrong">$200M worth of defense contracts</a> from the Pentagon to scale the U.S. defense's AI capabilities.



Grok is also being offered on all Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) <a href="https://www.benzinga.com/markets/tech/25/07/46386564/will-your-tesla-car-support-grok-only-these-vehicles-will-be-able-to-run-elon-musk-led-xais-latest-ai-model">vehicles in the U.S.</a>, with an Advanced Micro Devices Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) Ryzen chipset powering the onboard vehicle computer.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/07/46410520/elon-musks-tesla-once-built-cars-in-a-tent-to-meet-production-goals-now-mark-zuckerberg-is-channeling-his-nemesis-as-meta-builds-ai-data-centers-in-tents">Elon Musk&#8217;s Tesla Once Built Cars In A Tent To Meet Production Goals: Now, Mark Zuckerberg Is Channeling His Nemesis As Meta Builds AI Data Centers In Tents</a></li>
</ul>



Photo courtesy: Shutterstock

Elon Musk's xAI Unveils 'Sustainable' Way To Cool Memphis Data Center Amid Criticism From Environmental Rights Groups

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 Thursday.



U.S. stocks settled higher on Thursday, with the S&amp;P 500 surging to a fresh closing record during the session.



PepsiCo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) shares climbed more than 7% following better-than-expected earnings. United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) shares added over 3% after the airline topped earnings estimates.



On the economic data front, U.S. initial jobless claims declined by 7,000 from the previous week to 221,000 in the recent week, compared to market expectations of 235,000. U.S. retail sales rose 0.6% month-over-month in June, topping market expectations of a 0.1% increase. U.S. export prices increased 0.5% month-over-month in June, while import prices rose 0.1% in June.



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



The Dow Jones closed higher by 230 points to 44,484.49 on Thursday. The S&amp;P 500 rose 0.54% to 6,297.36, while the Nasdaq Composite gained 0.75% at 20,885.65 during Thursday's session.



Investors are awaiting earnings results from American Express Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>), 3M Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>) and Schlumberger Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) today.



What is CNN Business Fear &amp; Greed Index?



At a current reading of 75.1, the index moved to the &#8220;Extreme Greed&#8221; zone on Thursday, versus a prior reading of 73.8.



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



Read Next:<a href="https://www.benzinga.com/trading-ideas/short-ideas/25/07/46465973/top-2-defensive-stocks-that-are-ticking-portfolio-bombs-2"> </a>



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/short-ideas/25/07/46465973/top-2-defensive-stocks-that-are-ticking-portfolio-bombs-2">Top 2 Defensive Stocks That Are Ticking Portfolio Bombs</a> </li>
</ul>



Photo courtesy: Shutterstock

Pre-Market Outlook

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