Wall Street closed the week higher, with tech-heavy indices notching fresh records as upbeat corporate earnings, resilient macro data and breakthrough trade deals converged <a href="https://www.benzinga.com/markets">to boost risk appetite.</a>



<ul class="wp-block-list">
<li>SPY ETF has rallied 5% over the past month.<a href="https://www.benzinga.com/quote/SPY"> See the chart here. </a></li>
</ul>



The U.S. finalized new trade agreements with Indonesia, the Philippines and Japan. The Tokyo deal was the most significant, locking in a reduction in tariffs on Japanese autos and goods from 25% to 15%, while Japan pledged $550 billion in investment and improved access <a href="https://www.benzinga.com/news/25/07/46587245/japan-bond-yields-trump-trade-deal">to American-made goods.</a>



A U.S.-EU trade deal is now reportedly close, expected to align with the Japan framework and potentially ease existing tariff rates ahead of the Aug. 1 deadline.



Separately, President Donald Trump signed an Executive Order to boost the U.S. artificial intelligence sector by promoting the export of full-stack AI systems to trusted global partners. The White House said the move is aimed at strengthening economic leadership and national security.



Among the week's strongest performers, Thermo Fisher Scientific Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMO#NYSE">TMO</a>) rallied over 12%, topping the leaderboard for large-cap stocks, followed by T-Mobile US Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>), up 9%.



Within the Magnificent Seven, Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) rose by 1% after delivering better-than-expected results and raising its 2025 capital expenditures (capex) outlook by $10 billion, reinforcing its commitment to scaling AI infrastructure.



Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) dropped 8.2% following cautious commentary from CEO Elon Musk, who warned that upcoming quarters could prove challenging amid rising <a href="https://www.benzinga.com/markets/tech/25/07/46626447/elon-musk-says-20-trillion-valuation-possible-for-tesla-even-as-second-quarter-earnings-show-sales-revenue-decline-extreme-execution-is-needed">costs and margin pressures.</a>



Economic indicators added fuel to the rally. U.S. business activity surprised to the upside, with the Composite Purchasing Managers&#8217; Index climbing to a seven-month high in July, helped by expansion in services and steady consumer strength.



Trump's push to influence monetary policy continued with an unannounced visit to the Federal Reserve's headquarters in Washington, D.C. — the first by a sitting president <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46633129/trumps-fed-visit-powell-interest-rates">in nearly 20 years.</a>



Wearing a hard hat alongside Fed Chair Jerome Powell, Trump criticized the central bank's renovation project, claiming costs had surged to $3.1 billion. Powell countered on the spot, clarifying that the real cost is closer to $2.5 billion, excluding unrelated construction.



Pressed on rate policy, Trump said, "I'd love to see him lower interest rates."



Markets now shift focus to the July 30 Fed meeting, where expectations remain anchored for a hold — but not without growing political heat.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/large-cap/25/07/46641084/wall-street-stock-bubble-2025">Is A Stock Market Crash Imminent? Bubble Warnings Grow Louder</a></li>
</ul>



Image created using artificial intelligence via Midjourney.

Analyst Color

Equities

Government

Large Cap

Macro Economic Events

Regulations

Broad U.S. Equity ETFs

Economics

Federal Reserve

Analyst Ratings

Tech

ETFs

GOOGL

TMUS

TSLA

Trade Deals Fuel Wall Street Gains, Trump Renews Fed Attack: This Week In Markets

From meme stock rallies and sky-high call options to trillion-dollar tech valuations, signs of a new stock market bubble are flashing across Wall Street—and this time, the warnings are coming from nearly every corner <a href="https://www.benzinga.com/topic/expert-ideas">of the financial world.</a>



<ul class="wp-block-list">
<li>NVDA stock has already rallied 30% this year: <a href="https://www.benzinga.com/quote/NVDA">Check live chart here. </a></li>
</ul>



In a week packed with red flags, experts from Goldman Sachs, Bank of America, Yardeni Research, Apollo and JPMorgan have all pointed to levels of speculative activity, policy easing and market concentration that closely resemble the lead-up to past financial manias.



<h3 class="wp-block-heading">Goldman Sachs: Speculation Near Historic Extremes</h3>



Goldman Sachs analyst Ben Snider reported Friday that the firm&#8217;s Speculative Trading Indicator is now at its highest level outside of the 1999-2001 and 2020-2021 bubbles.



The surge is driven by an explosion in trading volumes for unprofitable stocks, penny stocks, and high-multiple tech names, alongside a 50% rally in a basket of retail trader favorites since April.



Goldman also flagged an extreme short squeeze in the most shorted stocks, with gains of over 60% in three months, a spike exceeded only by the blow-off tops of the dot-com and meme-stock eras.



&#8220;Speculative trading activity has also accompanied one of the sharpest short squeezes on record, another dynamic reminiscent of both 2000 and 2021,&#8221; Snider said. 



Adding to the frenzy, call options now account for 61% of all options activity, the highest since 2021, while IPOs and SPAC issuance are roaring back—with $9 billion in SPAC capital raised in second quarter alone, the strongest quarter since early 2022.



<h3 class="wp-block-heading">Bank of America: Bigger Retail, Bigger Bubble</h3>



Michael Hartnett, chief strategist at Bank of America, highlighted a parallel trend: policy-driven bubbles fueled by deregulation and monetary easing. 



He highlighted a global shift toward looser monetary policy, with the world policy rate falling from 4.8% to 4.4% over the past year, and expected to drop to 3.9% in the next 12 months.



Meanwhile, President Donald Trump's administration is working to finalize an executive order allowing private equity into 401(k)s, while regulators are exploring easing day trading rules for retail investors by slashing margin requirements from $25,000 to $2,000.



Hartnett said these changes could lead to &#8220;bigger retail, bigger liquidity, bigger volatility, bigger bubble.&#8221;



<h3 class="wp-block-heading">AI Bubble Surpassing 1999 Tech Peak?</h3>



Apollo's chief economist Torsten Sløk issued one of the starkest warnings, saying today's AI-driven bubble has eclipsed the tech bubble of the 1990s. 



He noted that P/E ratios for the top 10 S&amp;P 500 companies, many of them in AI—like Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)—are now higher than during the peak of the dot-com era.



"Almost 40% of the S&amp;P 500 is concentrated in just 10 stocks," Sløk said. "If I buy the S&amp;P 500 today, I'm really just betting on the AI story continuing."



J.P. Morgan, in a July 22 research note, was more direct. 



They flagged excessive investor interest in high-volatility stocks as a "red flag for the broader market" and cited the S&amp;P 500's forward P/E of 26—well above its historical average of 18—as a potential setup for disappointment if growth cools.



<h3 class="wp-block-heading">Yardeni: A Slow-Motion Melt-Up, </h3>



Veteran market strategist Ed Yardeni is less concerned about a crash but agrees the market is riding a wave of exuberance. 



&#8220;It&#8217;s a slow-motion melt-up," Yardeni said Thursday on CNBC. 



According to Ed Yardeni, the risk of a recession—and the bear market that would likely follow—remains low, thanks to resilient consumer health supported by baby boomer wealth, solid household spending, and growing confidence in President Trump's recent trade deals.



"People of my generation have $80 trillion in net worth," Yardeni said. "They&#8217;re retiring and spending. And their portfolios are rising, so they're happy."



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/commodities/25/07/46579748/trump-copper-tariff-rally-record-highs-freeport2025">Trump Shock Treatment Ignites Copper Boom—And It&#8217;s Only Getting Started </a></li>
</ul>



Photo: Shutterstock

NVDA

Is A Stock Market Crash Imminent? Bubble Warnings Grow Louder

Despite all the noise surrounding tariffs and the budget bill this year, seasonality has held up very well. In fact, seasonality has become my favorite backdrop to use when looking for price action to trade on.&nbsp;



That&#8217;s why my favorite trade setup for this coming week is a long trade on Ross Stores (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROST#NASDAQ">ROST</a>), extending well into January 2026.



Here are the details.



<h2 class="wp-block-heading">Missed the First Half Rally? Here's Where the Real Opportunity Starts</h2>



The next wave of market gains won't come from chasing headlines, it'll come from spotting what others miss. This Wednesday, Tim Melvin, Anne-Marie Baiynd, and Ryan Faloona reveal the overlooked trades, undervalued stocks, and income setups built to outperform into Q3 and beyond.&nbsp;<a href="https://events2.benzinga.com/bz-pro-webinar-wed-july30-2025-registration/?utm_campaign=073025-webinar&amp;&amp;utm_adType=sponsorad&amp;utm_ad=RD072625/?el=ResearchDaily&amp;he=%7B%7Bemail%7D%7D&amp;adt_ei=%7B%7Bemail%7D%7D&amp;utm_medium=newsletter">Secure your seat now and don't miss the move</a>.



ROST&#8217;s current relative resistance zone sits right around $160, but trading could be choppy for the next few weeks. ROST&#8217;s support sits near $120.



Given this, the best trade strategy is a &#8220;long call butterfly.&#8221; That&#8217;s the combination of a long call spread and a short call spread that share the same short strike and the same expiration date. Though the position is often defined as &#8220;delta neutral,&#8221; this trade certainly delivers profit if price action rises as expected.&nbsp;



The legs of the trade are:



<ul class="wp-block-list">
<li>Buy to open 1 ROST 16 Jan26 135 calls&nbsp;</li>



<li>Sell to open 2 ROST 16 Jan26 150 calls&nbsp;</li>



<li>Buy to open 1 ROST 16 Jan26 165 calls&nbsp;</li>
</ul>



Set an alert for $150 so that you are very aware of the motion into the trade&#8217;s middle strike as this is where the maximum profit will be into expiration. You will also notice that price action for the butterfly is more sensitive to fluctuation the closer we are to expiration.



This long call butterfly holds a current debit of $3.28 at this writing, which represents the total risk incurred in the trade. The breakeven price of the stock at expiration on this trade is $138.23 plus commissions.&nbsp;



The total highest potential profit is $15 (the distance between the $135 and $150 strikes) less the cost of the debit incurred by buying the call butterfly, so $20 &#8211; $3.28 = $1,672 less commissions. That represents a potential profit of $1,672 on the risk of $328.&nbsp;



Now, it is extremely rare to collect all this premium in this kind of butterfly. Consider price action information to drive your risk and profit parameters; consider profit targets near resistance prices and 100-200% returns, as a suggestion.&nbsp;



This strategy provides several ways to exit, but I will discuss the main two:&nbsp;



<ol class="wp-block-list">
<li>Sell the call butterfly when the profit goal moves into your target parameters &#8211; particularly once the middle strike is tested near the expiration time. I often look for 100% to 300% return for these types of call butterflies.</li>



<li>Sell the call butterfly when your loss threshold is breached. Customarily, this is 50% for me.&nbsp;</li>
</ol>



More advanced traders might consider rolling the short strikes down over time if price continues upward.



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.



Image: Shutterstock

Opinion

Trading Ideas

ROST

My Top Seasonality Trade For Next Week

Crypto analyst Benjamin Cowen expects a bearish month for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) in August, which could lead to fresh <a href="https://www.benzinga.com/money/ethereum-eth-price-predictions#:~:text=Maximum%20Prediction%3A%20%244%2C783,regulatory%20developments%20could%20moderate%20prices.">lows for altcoins</a>.



What Happened: In a July 21 <a href="https://www.youtube.com/watch?v=kfg7dNU7TJk">podcast</a>, Cowen maintains that altcoins remain elevated when measured against BTC, citing his custom indicator, &#8220;Total3 minus USDT divided by Bitcoin&#8221;, which suggests further downside for altcoins. 



According to Cowen, even when Bitcoin dominance hit 60% in October 2024, altcoins were still trading 27%–28% above their historical range lows.



&#8220;It didn't make sense for that to be the top of Bitcoin dominance because altcoin/BTC pairs were still well above their range lows,&#8221; he said.



While Cowen sees Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) as likely having bottomed vs BTC, he warns most altcoins are still bleeding heavily, down over 42% vs ETH since April. 



Given the risk-reward profile, Cowen says he prefers ETH over smaller-cap altcoins, calling it a lower-risk, higher-upside play in the current macro setup.



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46627515/bitcoin-slips-below-117000-on-whale-selling-ethereum-xrp-hold-steady">Bitcoin Slips Below $117,000 On Whale Selling, Ethereum, XRP Hold Steady</a>



What's Next: Cowen emphasizes August&#8217;s seasonal weakness, pointing out that Bitcoin has historically dropped between 12%–14% in August for the past three years. 



This could pressure both BTC and altcoins, although he sees BTC dominance climbing sharply from late August onward.



He expects the combined dominance of BTC and ETH, currently around 73%, to rise to near 85%, especially if altcoins underperform into Q4. 



Even if altcoins rally briefly, as in 2017, he expects them to revisit cycle lows around 0.25 on his custom metric by October.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46612914/bitcoin-could-go-to-300000-before-great-depression-crisis-traders-argue">Bitcoin Could Go To $300,000 Before &#8216;Great Depression&#8217; Crisis, Traders Argue</a></li>
</ul>

Cryptocurrency

News

$BTC

$ETH

Bitcoin Could See Bearish August, Analyst Says—What Does It Mean For Ethereum, XRP, Solana?

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is facing mounting pressure from investors as concerns intensify over its lagging generative AI (GenAI) strategy, a key driver of growth across the tech sector. 



With the company&#8217;s shares down 14% year-to-date, contrasting sharply with the S&amp;P 500&#8217;s 8% gain, the market is signaling a clear demand for a definitive plan to catch up with rivals like Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google and Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), which have aggressively integrated AI into their offerings. 



The upcoming fiscal third-quarter earnings call on July 31 is now seen as a critical juncture for Apple to unveil a substantial GenAI investment roadmap, potentially involving significant increases in capital expenditure for infrastructure and even a multi-billion dollar acquisition, to stem the innovation gap and justify its premium valuation.



Also Read: <a href="https://www.benzinga.com/markets/tech/25/07/46538668/apples-online-store-is-now-live-in-saudi-arabia-flagship-stores-coming-by-2026" target="_blank" rel="noreferrer noopener">Apple&#8217;s Online Store Is Now Live In Saudi Arabia, Flagship Stores Coming By 2026</a>



Needham analyst Laura Martin, who maintains a <a href="https://www.benzinga.com/quote/AAPL/analyst-ratings">Hold rating</a> on Apple shares, issued a cautionary note to investors ahead of the earnings release. Martin emphasized that Apple can no longer afford a passive stance without a clearly defined GenAI strategy or implementation plan.



So far, the analyst noted that Alphabet Google has emerged as the fastest adopter among Big Tech, embedding GenAI across its entire product suite and operational framework. As a result, iOS continues to lag further behind Android each quarter, she said. 



Since the iPhone remains Apple&#8217;s anchor product, driving both hardware upgrades and services revenue, Martin noted the widening innovation gap as a potential existential threat to Apple. 



Today&#8217;s most forward-thinking technologists want to work on GenAI to build what wasn&#8217;t previously possible. If Apple fails to give its employees the tools and freedom to integrate GenAI into its ecosystem, the analyst said it risks losing top AI talent to firms like Meta Platforms, OpenAI, or Anthropic.



With every quarter Apple delays its GenAI vision, criticism from both the media and Wall Street about Tim Cook&#8217;s leadership grows louder, he said. Apple shares have dropped 14% year-to-date, while the S&amp;P 500 is up 8%, a clear signal that investors expect Apple to act, as per the analyst.



Martin continues to advise caution ahead of next week&#8217;s earnings call. The analyst says Apple needs to present a defined GenAI investment plan. She says the company is trailing its peers by 1–2 years, and catching up will require elevated operating costs, increased capital expenditures, and potentially even a large acquisition.



Specifically, Martin is concerned Apple may announce a significant increase in CapEx guidance, from $12 billion in fiscal 2025 to somewhere between $30-$50 billion annually, to build GenAI-ready data centers, networking gear, and server infrastructure.



The analyst feared the company may announce a multi-billion-dollar annual licensing deal with Anthropic or another proprietary model developer to create a custom GenAI foundation for Apple.



She expressed concerns over the company&#8217;s announcement of higher operating expenses due to adding GenAI engineers, absorbing cloud usage costs (since Apple lacks its own cloud business), and building GenAI tools and systems.



Martin highlighted increased costs to retain GenAI talent as Apple faces fierce hiring competition from Meta and others and growing signs of talent attrition.



According to the analyst, a large-scale GenAI acquisition, such as Perplexity AI ($14 billion), would accelerate GenAI&#8217;s capabilities and close the gap.



Most Big Tech companies have already laid out GenAI roadmaps that aim to enhance return on invested capital (ROIC), and their valuations reflect that, despite higher costs and CapEx. 



In contrast, Martin noted that Apple&#8217;s forecasts don&#8217;t account for the incremental investment needed to catch up in the GenAI race. 



She said that Apple&#8217;s stock could come under pressure once the market prices are at the true cost of this catch-up. Until Apple&#8217;s GenAI capital plans align with the pace of its competitors, the analyst advised staying cautious.



Apple remains the only Big Tech firm still on the sidelines, allocating just $12 billion annually to CapEx. Martin noted this won&#8217;t be sustainable if Apple wants to remain competitive in a GenAI-driven world.



Apple currently trades at a forward FY2026 P/E of approximately 27.7x, which is 63% higher than Apple&#8217;s 10-year historical average of ~17x, nearly 25% higher than the S&amp;P 500&#8217;s average 2026 P/E of ~22x.



For Apple shares to justify this multiple, a major iPhone upgrade cycle is needed, something Martin doesn&#8217;t anticipate within the next 12 months.



She expects Apple will need to pour billions into GenAI over the next three years, costs that aren&#8217;t factored into current consensus estimates.



Martin noted that despite trading at a premium, Apple is delivering the slowest revenue and margin growth among Big Tech. In the March 2025 quarter, peers reported 2-3 times faster revenue growth and 3-12 times faster margin expansion. According to the analyst, these metrics suggest Apple&#8217;s premium valuation relative to peers is vulnerable.



Martin noted that Apple faces structural disadvantages in the long term. It can only use GenAI to enhance its own ecosystem, while Google not only improves Android with its Gemini LLM but also monetizes it through Google Cloud by licensing it to thousands of external customers, as per the analyst.



Similarly, Amazon.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) benefits from a large cloud business that earns revenue from GenAI startups building on its infrastructure, she said. Apple, lacking a cloud platform, bears GenAI costs without the offsetting revenue potential, putting it at a competitive and valuation disadvantage, as per the analyst.



Meanwhile, Apple&#8217;s Big Tech rivals are building platforms designed to bypass Apple&#8217;s ecosystem entirely, targeting its 15-30% App Store revenue share. Martin added that Apple remains exposed without a strategic GenAI plan to protect its moat.



AAPL&nbsp;Price Action:&nbsp;Apple stock is trading higher by 0.45% to $214.70 at last check Friday.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/07/46625455/samsung-in-talks-with-openai-and-perplexity-ai-for-galaxy-s26" target="_blank" rel="noreferrer noopener">Samsung In Talks With OpenAI And Perplexity AI For Galaxy S26</a></li>
</ul>



Image via Shutterstock

Reiteration

AAPL

AMZN

Apple Faces Existential Threat If It Fails To Act On GenAI

Wall Street looked set to close the week on a high note, with large-cap benchmarks pushing higher in Friday's midday trading as optimism over corporate earnings and progress on global trade talks provided support for risk assets. The S&amp;P 500 climbed 0.4% to 6,390, marking a fresh all-time high and the Nasdaq 100 also rose 0.5% to break above 23,330, led by strength in <a href="https://www.benzinga.com/topic/technology-stocks">tech and consumer names. </a>



<ul class="wp-block-list">
<li>QQQ ETF has risen 40% off April&#8217;s lows. <a href="https://www.benzinga.com/quote/QQQ">Track it now here.</a> </li>
</ul>



With today's gains on Wall Street, the combined market capitalization of the Magnificent Seven has hit a new record of $19 trillion, with NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) alone climbing to $4.25 trillion.



The Roundhill Magnificent Seven ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NYSE">MAGS</a>) is up 1.4% this week and is on pace to log its seventh weekly gain in the last eight.



Markets were buoyed by news from Brussels, where European officials confirmed a Sunday meeting with President Donald Trump. Investors are anticipating the U.S. will move forward with a 15% tariff on EU goods, mirroring the Japan deal structure finalized earlier this week.



President Donald Trump indicated confidence that the Federal Reserve will begin cutting rates, just a day after his high-profile visit to Fed Chair Jerome Powell in Washington, D.C.



Yields on 10-year Treasury bonds held steady at 4.40%, unchanged for the week, while the U.S. dollar index rose 0.3%, paring weekly losses but still set to close lower.



Commodities were broadly weaker. Gold dropped 1.2% to $3,329 per ounce, silver slid 2.4% to $38 per ounce and WTI crude oil declined 1% to $65.40 per barrel.



Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) extended its decline for a third straight session, slipping 2.2% toward $115,800 and heading for its second consecutive weekly loss—a streak not seen since March 2025.



<h2 class="wp-block-heading">Friday&#8217;s Performance In Major U.S. 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 % chg</td></tr><tr><td>Nasdaq 100</td><td>23,322.82</td><td>0.4%</td></tr><tr><td>S&amp;P 500</td><td>6,389.82</td><td>0.4%</td></tr><tr><td>Dow Jones</td><td>44,807.79</td><td>0.3%</td></tr><tr><td>Russell 2000</td><td>2,251.34</td><td>-0.1%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 12:35 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 $585.34.</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 0.2% up to $447.87.</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 $567.18.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) held steady at $223.55.</li>



<li>The&nbsp;Consumer Discretionary&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) outperformed, up 1.1%; the&nbsp;Communication Services&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) lagged, down 1%.</li>
</ul>



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



<ul class="wp-block-list">
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rebounded 5.6% after sliding 8.2% on Thursday amid weaker-than-expected quarterly results. </li>
</ul>



Stocks reacting to earnings reports included:



<ul class="wp-block-list">
<li>Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) down 8.94%</li>



<li>Aon plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AON#NYSE">AON</a>) up 4.58%</li>



<li>HA Healthcare, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAHC#NASDAQ">HAHC</a>) down 2.97%</li>



<li>Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) up 5.80%</li>



<li>Digital Realty Trust, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DLR#NYSE">DLR</a>) down 0.75%</li>



<li>Phillips 66 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>) up 0.80%</li>



<li>Charter Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>) down 17.48%</li>



<li>Edwards Lifesciences Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EW#NYSE">EW</a>) up 3.63%</li>



<li>VeriSign, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRSN#NASDAQ">VRSN</a>) up 6.29%</li>



<li>First Citizens BancShares, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>) down 0.99%</li>



<li>Shinhan Financial Group Co., Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHG#NYSE">SHG</a>) up 1.26%</li>



<li>Deckers Outdoor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>) up 11.91%</li>



<li><a href="https://www.benzinga.com/markets/earnings/25/07/46628310/booz-allen-sticks-to-bold-2026-outlook-as-backlog-hits-38-billion">Booz Allen </a>Hamilton Holding Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAH#NYSE">BAH</a>) down 2.27%</li>



<li>Centene Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNC#NYSE">CNC</a>) up 4.90%</li>



<li>Saia, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAIA#NASDAQ">SAIA</a>) up 5.49%</li>



<li>AutoNation, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>) down 0.13%</li>



<li>OneMain Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OMF#NYSE">OMF</a>) up 0.87%</li>



<li>Boyd Gaming Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYD#NYSE">BYD</a>) up 2.24%</li>



<li>Gentex Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GNTX#NASDAQ">GNTX</a>) up 14.19%</li>
</ul>



Read Now:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46633129/trumps-fed-visit-powell-interest-rates">Trump&#8217;s Rare Fed Visit Sparks Talks Of A $7 Trillion Problem</a> Photo: khunkornStudio via Shutterstock<a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46633129/trumps-fed-visit-powell-interest-rates"> </a></li>
</ul>

CHTR

DECK

FCNCA

GNTX

INTC

MAGS

SAIA

VRSN

HAHC

US Stocks Hit New Highs As Magnificent Seven Reach $19 Trillion: What's Moving Markets Friday?

President Donald Trump showed up at the Federal Reserve on Thursday to tour its renovation — but the symbolism of the visit revealed something far more urgent: America's spiraling $7.1 trillion deficit and the rising risk it places on <a href="https://www.benzinga.com/news/politics/25/07/46620784/trump-powell-clash-over-3-billion-federal-reserve-renovations-in-front-of-reporters">markets and monetary policy.</a>



<ul class="wp-block-list">
<li>TLT ETF is down 2.5% this month: <a href="https://www.benzinga.com/quote/tlt">See the chart here.</a></li>
</ul>



Trump's appearance, just the fourth ever by a sitting U.S. president at the Fed, took a sharp turn when he publicly clashed with Chair Jerome Powell over the cost of the central bank's real estate overhaul.



But behind the construction spat lies a bigger concern: the cost of servicing the ballooning national debt, and the political pressure now building for lower interest rates.



<h2 class="wp-block-heading">$7 Trillion In Spending, $1 Trillion In Interest</h2>



According to Bank of America chief investment strategist Michael Hartnett, the scale of current U.S. government spending — $7.1 trillion annually — is so large that it translates to roughly $2.6 billion in outlays every three hours and 12 minutes.



That&#8217;s equal to the cost of the&nbsp;Federal Reserve&#8217;s renovation of its Washington, D.C. headquarters. 



The fiscal strain is becoming untenable: interest payments alone are approaching $1 trillion a year. In this environment, Hartnett said Trump's team is likely to push for interest rates below 3% to stabilize borrowing costs.



That could mean an extraordinary shift in how the Fed manages rates. 



"The next Fed governor is likely to launch Yield Curve Control to control debt," Hartnett said — referring to a controversial policy in which the Fed would cap long-term Treasury yields by buying bonds, similar to Japan's monetary framework.



<h2 class="wp-block-heading">Trump And Powell Clash — Publicly, And In Hard Hats</h2>



<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">Trump: It looks like it's about $3.1 billion Powell: I'm not aware of that. Trump: It just came out Powell: You just added in a third building Trump: It's a building that's being built Powell: It was built five years ago. &#x1f37f;&#x1f37f;&#x1f37f; <a href="https://t.co/vaQ6MTYdfV">pic.twitter.com/vaQ6MTYdfV</a>&mdash; Spencer Hakimian (@SpencerHakimian) <a href="https://twitter.com/SpencerHakimian/status/1948476466095960509?ref_src=twsrc%5Etfw">July 24, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The president's Fed visit wasn't just symbolic — it quickly turned tense.



Standing side-by-side in hard hats, Trump told reporters the renovation of the Fed's historic buildings ballooned to $3.1 billion.



Powell fired back immediately, saying Trump had included costs from an unrelated building completed five years ago. 



The correct figure, Powell clarified, is around $2.5 billion — a number backed by prior Congressional reporting.



Responding to a reporter who asked what he hoped to hear from the Fed chair, Trump said, "I'd love to see him lower interest rates."



The visit, broadcast live on major networks, marked yet another chapter in Trump's long-standing campaign to pressure Powell and the Fed into cutting rates. 



With the Federal Funds Rate currently at 4.25%–4.50%, Trump reiterated his position that borrowing costs are too high. 



This time, though, the push didn't come via X or Truth Social — it happened in person, on camera, and in the heart of the central bank's headquarters.



<h2 class="wp-block-heading">Trump vs. Powell: What Happens Next?</h2>



While Trump publicly said he doesn't plan to replace Powell, betting markets suggest the story isn't over. 



On July 25, Kalshi data showed about a 20% chance Powell is out by year-end, and 7% odds of an early exit before September.



<iframe loading="lazy" src="https://kalshi.com/external-widgets/events/LEAVEPOWELL-25?color_scheme=light&#038;widget_size=medium&#038;variant=a&#038;ids=LEAVEPOWELL-25-DEC31&#038;ids=LEAVEPOWELL-25-AUG31&#038;ids=LEAVEPOWELL-25-JUL31&#038;utm_campaign=benzinga_widget" width="488px" height="196px" style="border:0"></iframe>



Names floated as potential replacements include former Fed Governor Kevin Warsh (37%), economist Kevin Hassett (23%), current Fed Gov. Christopher Waller (20%) and Treasury Secretary Scott Bessent (14%).



As Trump gears up for further fiscal expansion under his One Big Beautiful Bill Act — expected to add $3.4 trillion to deficits over the next decade, <a href="https://www.cbo.gov/publication/61570">according </a>to the Congressional Budget Office — his campaign to reshape the Fed into a growth-oriented institution appears far from over.



Read Now:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/25/07/46587245/japan-bond-yields-trump-trade-deal">Trump&#8217;s Japan Trade Deal Just Triggered A 2008-Style Bond Market Earthquake</a> Photo: Shutterstock</li>
</ul>

Bonds

Specialty ETFs

Politics

Treasuries

Econ #s

Trump's Rare Fed Visit Sparks Talks Of A $7 Trillion Problem

Charter Communications (NASDAQ: CHTR) stock declined after it released its <a href="https://www.benzinga.com/pressreleases/25/07/n46626616/charter-announces-second-quarter-2025-results" target="_blank" rel="noreferrer noopener">fiscal second-quarter</a> 2025 results on Friday. 



The company reported quarterly revenue growth of 0.6% year-on-year to $13.77 billion, beating the <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">analyst consensus estimate</a> of $13.76 billion.



Earnings per share of $9.18 missed the analyst consensus estimate of $9.80.



Also Read: <a href="https://www.benzinga.com/analyst-ratings/price-target/25/05/45502573/charters-proposed-cox-deal-could-challenge-comcast-surpass-att-in-broadband" target="_blank" rel="noreferrer noopener">Charter&#8217;s Proposed Cox Deal Could Challenge Comcast, Surpass AT&amp;T In Broadband</a>



The topline performance reflects revenue growth of 24.9% for residential mobile service, 2.8% for residential Internet, and 18.9% for other revenue.



Charter lost 117,000 internet customers, compared to a decline of 149,000 during the second-quarter of 2024 which included the impact of approximately 50,000 disconnects related to the end of the FCC&#8217;s Affordable Connectivity Program subsidies.



Charter&#8217;s residential video customers decreased by 80,000 compared to 408,000 in the previous year.



Charter&#8217;s mobile lines increased by 500,000 during the quarter, reaching 10.9 million as of June 30. AT&amp;T (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) added 401,000 <a href="https://www.benzinga.com/markets/earnings/25/07/46570015/atts-discount-bundles-fuel-subscriber-gains-tax-savings-to-supercharge-fiber-expansion" target="_blank" rel="noreferrer noopener">postpaid phone customers</a> in the second quarter, down slightly from 419,000 last year but still strong. In contrast, Verizon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) lost 9,000 postpaid phone connections, missing analyst expectations for a 13,000 gain.



Charter&#8217;s adjusted EBITDA margin remained flat at 41.4%.



The quarterly free cash flow of $1.1 billion decreased from $1.3 billion in the prior year, primarily driven by lower net cash flows from operating activities.



As of June 30, Charter served 29.9 million residential and small business Internet customers.



Net cash flow from operating activities totaled $3.6 billion during the quarter. As of June 30, the company held $606 million in cash and equivalents.



During the quarter, Charter purchased 4.5 million Charter and Charter Communications shares totaling&nbsp;$1.7 billion.



2025 Outlook: Charter Communications&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">expects a capex</a>&nbsp;of approximately&nbsp;$11.5 billion (<a target="_blank" href="https://www.benzinga.com/news/earnings/25/04/45007666/charter-loses-internet-and-tv-subscribers-but-beats-rivals-with-strong-mobile-line-gains" rel="noreferrer noopener">prior $12 billion</a>) versus $11.27 billion&nbsp;in fiscal 2024. The decrease primarily reflects the timing of network evolution spending and lower commercial and subsidized rural line extensions spending.



Charter stock gained 11% year-to-date compared to the NASDAQ Composite Index&#8217;s (which includes the stock) over 9% returns.



Price Action: Charter Communications stock is down 10.6% to $339.61 in the premarket at the last check on Friday.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/04/45119505/t-mobiles-consistent-subscriber-growth-and-strong-market-trends-prompt-analyst-upgrade" target="_blank" rel="noreferrer noopener">T-Mobile Stock Gets A Lift As Subscriber Growth Holds Steady</a></li>
</ul>



Image: Shutterstock

Earnings

Guidance

Charter Stock Slides Despite Revenue Beat—Mobile Gains Offset By Internet, Video Subscriber Losses

Wedbush Securities analyst Dan Ives compared Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) to world No. 1 golfer Scottie Scheffler ahead of the tech giant&#8217;s fourth-quarter <a href="https://www.benzinga.com/quote/MSFT">earnings release Wednesday after market close</a>.



What Happened: &#8220;We expect more good news next week from Redmond as Nadella &amp; Co. will deliver another robust quarter driven by the AI Revolution,&#8221; Ives wrote on X Friday. &#8220;The Scottie Scheffler of software is firing on all cylinders as this cloud stalwart is front and center as the core AI enterprise foundation.&#8221;



The comparison references Scheffler&#8217;s dominant performance in professional golf. The 29-year-old American has held the world No. 1 ranking for over 100 weeks and won four major championships, according to the Official World Golf Ranking.



Microsoft trades at $510.80, with analysts setting a <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">consensus price target</a> of $551.07 based on 30 ratings. Citigroup issued the highest target at $613 while JPMorgan set the lowest at $475 in May. 



Ives maintains an Outperform <a href="https://www.benzinga.com/markets/tech/25/06/46132007/amazon-google-not-far-behind-but-dan-ives-says-microsoft-clearly-leading-in-these-segments-600-price-target-is-probably-conservative">rating with a $600 price target</a>, calling it &#8220;probably conservative.&#8221; He projects Microsoft will join Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) in the $4 trillion market cap club this summer, with potential for $5 trillion within 18 months.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We expect more good news next week from Redmond as Nadella &amp; Co. will deliver another robust quarter driven by the Al Revolution. The Scottie Scheffler of software is firing on all cylinders as this cloud stalwart is front and center as the core AI enterprise foundation &#x1f525;&#x1f3c6;&#x1f402;&#x1f37f;&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1948678677383839823?ref_src=twsrc%5Etfw">July 25, 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/markets/tech/25/07/46625465/chinese-repair-shops-quietly-keep-smuggled-nvidia-ai-chips-alive-fixing-up-to-500-banned-h100-gpus-per-month-as-us-scrambles-to-track-them-report">Chinese Repair Shops Quietly Keep Smuggled Nvidia AI Chips Alive, Fixing Up To 500 Banned H100 GPUs Per Month As US Scrambles To Track Them: Report</a>



Why It Matters: The Redmond-based company <a href="https://www.benzinga.com/markets/tech/25/07/46625150/jd-vance-slams-microsoft-for-firing-americans-relying-on-h-1b-workers-satya-nadella-says-layoffs-are-weighing-heavily-on-him">faces scrutiny over workforce decisions</a>. Vice President JD Vance criticized Microsoft for laying off 9,000 American workers while increasing H-1B visa applications. CEO Satya Nadella addressed the cuts in an employee memo Thursday, saying the decisions &#8220;weigh heavily&#8221; on him.



Despite layoffs, Microsoft expanded its AI team by hiring approximately 24 employees from Alphabet Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) DeepMind division. Ives expects over 70% of Microsoft&#8217;s installed base to adopt AI functionality within three years, potentially <a href="https://www.benzinga.com/analyst-stock-ratings/reiteration/25/07/46351238/microsoft-headed-for-4-trillion-market-cap-this-summer">adding $25 billion in revenue by fiscal 2026</a>.



Microsoft allocated $80 billion in capital <a href="https://www.benzinga.com/analyst-stock-ratings/reiteration/25/07/46351238/microsoft-headed-for-4-trillion-market-cap-this-summer">expenditure guidance for fiscal 2025</a> to expand data center capacity and capitalize on AI demand trajectory.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://benzinga.com/crypto/cryptocurrency/25/07/46612914/bitcoin-could-go-to-300000-before-great-depression-crisis-traders-argue" target="_blank" rel="noopener">Bitcoin Could Go To $300,000 Before &#8216;Great Depression&#8217; Crisis, Traders Argue</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

GOOG

MSFT

Dan Ives Calls Microsoft 'Scottie Scheffler Of Software' Ahead Of Earnings — Says Satya Nadella-Led Cloud Giant Is Firing On All Cylinders In AI Boom

The cryptocurrency market is seeing a modest pullback on Friday, with Bitcoin breaking below the $117,000 level, caused by an uptick in whale selloffs.



<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>$116,634.79</td></tr><tr><td>Ethereum</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>$3,730.88</td></tr><tr><td>Solana</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td><td>$181.14</td></tr><tr><td>XRP</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td><td>$3.13</td></tr><tr><td>Dogecoin</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>$0.2325</td></tr><tr><td>Shiba Inu</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>$0.00001369</td></tr></tbody></table></figure>



Notable Statistics:



<ul class="wp-block-list">
<li>IntoTheBlock data shows Bitcoin and Ethereum large transaction increased by 5.8% and 5.1%, respectively. Daily active addresses decreased 6% and grew 3.5%, respectively.</li>



<li>Coinglass data shows 141,129 traders were liquidated in the past 24 hours for $534.38 million. &nbsp;</li>



<li>SoSoValue data shows net intflows of $226.6 million into spot Bitcoin ETFs on Wednesday. Spot Ethereum ETFs saw net inflows of $231.2 million.</li>
</ul>



Trader Notes: Bitcoin is under pressure, slipping below $117,000, but traders are closely watching the $115,000 level where spot buyers are beginning to absorb sell pressure, according to crypto trader Skew. 



He <a href="https://x.com/52kskew/status/1948685293256946099">notes</a> that a short squeeze may follow if BTC consolidates near $117,000 and short positions build up.



BitBull predicts Bitcoin could drop as low as $111,000–$112,000, citing a missing breakout retest after its all-time high rally.



 The current correction, he says, echoes Q1's price action, where a sharp rally was followed by a cooling-off period, a setup that could lead to a strong continuation higher after the short-term dip.



<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=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> could drop towards $111K-$112K level. Usually, BTC retests its breakout level which hasn&#39;t happened this time. After hitting a new ATH, BTC went up straight for a few days and now a correction is happening. This is very similar to what happened in Q1, before BTC pumped to… <a href="https://t.co/JRk5qF3NHT">pic.twitter.com/JRk5qF3NHT</a>&mdash; BitBull (@AkaBull_) <a href="https://twitter.com/AkaBull_/status/1948682386549465373?ref_src=twsrc%5Etfw">July 25, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Ethereum shows signs of strength with two potential bullish trajectories, according to CryptoWolf. 



The conservative scenario targets $8,000, while a more aggressive path eye $13,000+. 



In both cases, he expects a 20%–25% correction post-All-time high to serve as a final shakeout before ETH's explosive Q4 rally.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">As promised, here's the updated <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> outlook. Two paths ahead: • Conservative target: $8K+ • Optimistic: $13K+ and beyond In both scenarios, expect a sharp 20–25% washout after ATHs, the final shakeout before liftoff. Q4 is when it ignites. This is the roadmap. <a href="https://t.co/bI48uCQuhT">pic.twitter.com/bI48uCQuhT</a>&mdash; Wolf &#x1f43a; (@IamCryptoWolf) <a href="https://twitter.com/IamCryptoWolf/status/1948691177743548533?ref_src=twsrc%5Etfw">July 25, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Solana is also in focus, with DegenHardy <a href="https://x.com/Degen_Hardy/status/1948688741037736108">identifying</a> a classic bullish setup. 



Bullish divergences are forming at a key support zone, a common precursor to sharp upward movements. 



He sees this as a "get ready" moment for traders aligned with his go-to strategy.



Dogecoin could be carving out a double bottom, per chart analyst Ali Martinez. 



If DOGE can <a href="https://x.com/ali_charts/status/1948668042000347468">reclaim</a> $0.26 as support, the pattern may confirm and fuel a breakout toward $0.46, opening the door for a significant meme coin rally.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46612914/bitcoin-could-go-to-300000-before-great-depression-crisis-traders-argue">Bitcoin Could Go To $300,000 Before &#8216;Great Depression&#8217; Crisis, Traders Argue</a></li>
</ul>



Image: Shutterstock

$DOGE

$SHIB

$SOL

$XRP

Bitcoin Slips Below $117,000 On Whale Selling, Ethereum, XRP Hold Steady

U.S. stock futures swung between gains and losses on Friday after ending on a mixed note on Thursday. Futures of major benchmark indices were mixed.



In the escalating feud between the two, President Donald Trump <a href="https://www.benzinga.com/news/politics/25/07/46620784/trump-powell-clash-over-3-billion-federal-reserve-renovations-in-front-of-reporters">visited the Federal Reserve</a> and met Chairman Jerome Powell, having a public disagreement over the escalating price for renovation work at the Federal Reserve&#8217;s headquarters. 



This occurred just a few days ahead of the Fed&#8217;s decision on interest rates on July 30. Trump has been increasing pressure on Powell to decrease interest rates, while also backing away from his earlier talk of dismissing Powell before his term ends next May.



Meanwhile, the administration&#8217;s Aug. 1 deadline on tariff negotiations also falls on Thursday next week as investors look out for more trade deals.



The 10-year Treasury bond yielded 4.42% and the two-year bond was at 3.93%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool&#8217;</a>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>0.12%</td></tr><tr><td>S&amp;P 500</td><td>0.07%</td></tr><tr><td>Nasdaq 100</td><td>-0.04%</td></tr><tr><td>Russell 2000</td><td>0.15%</td></tr></tbody></table></figure>



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, were higher in premarket on Friday. The SPY was up 0.13% at $635.26, while the QQQ advanced 0.048% to $565.28, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From Last Session:



Energy and information technology stocks bucked the overall market trend on Thursday, closing the session higher, while most sectors on the S&amp;P 500 closed on a negative note, with health care, materials, and consumer discretionary stocks recording the biggest losses. U.S. stocks settled mixed.



Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) reported better-than-expected second-quarter financial results and increased its investment in capital expenditures in 2025.



Conversely, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) reported weaker-than-expected second-quarter financial results after the market closed Wednesday.



On the economic data front, the S&amp;P Global manufacturing PMI declined to 49.5 in July, down from market estimates of 52.6, while U.S. initial jobless claims declined by 4,000 from the previous week to 217,000 in the third week of July, compared to market estimates of 227,000.



<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>0.18%</td><td>21,057.96</td></tr><tr><td>S&amp;P 500</td><td>0.07%</td><td>6,363.35</td></tr><tr><td>Dow Jones</td><td>-0.70%</td><td>44,693.91</td></tr><tr><td>Russell 2000</td><td>-1.36%</td><td>2,252.13</td></tr></tbody></table></figure>



Insights From Analysts:



Analysis by Adam Turnquist, the chief technical strategist at LPL Financial, highlighted that the advance-decline line reached new highs before the S&amp;P 500, creating a bullish divergence that supported the case for a sustainable rally.



This followed a recovery from the April 8 low, showing broad participation, with most stocks rebounding sharply from oversold conditions, Turnquist explained.



A rising advance-decline line is indicative of positive market breadth as the number of advancing stocks is outpacing the number of declining stocks. The line is calculated by taking the difference between the number of advancing and declining stocks on the index for a given trading day and adding that difference to the prior day's value.



However, Turnquist noted that &#8220;over the past month, participation in the S&amp;P 500's push to new highs narrowed. For example, without the help from a handful of Magnificent Seven names, the S&amp;P 500 would only be up around 0.5% month-to-date, far below the index's 1.7% total return.&#8221;



This has resulted in the advance-decline line failing to set a new high earlier this month, creating a short-term divergence between price and breadth.



&#8220;Encouragingly, this gap is now closed as participation recently expanded beyond large-cap and/or tech stocks. Yesterday's (Wednesday&#8217;s) new high in the A/D line reinforces the health of the bull market, signaling a broader rally with receding concentration risk,&#8221; he added.



Louis Navellier of Navellier &amp; Associates explained that &#8220;we are truly in a special environment and an economic renaissance for the U.S.&#8221;



According to him, as Asia and much of Europe are in the midst of a demographic collapse, the U.S. is better positioned for household formation and better assimilates immigrants.



&#8220;Furthermore, the U.S. is food and energy independent, plus is benefiting from surging exports as well as onshoring. This is why the U.S. dollar suddenly got its &#8216;mojo&#8217; back, since it is obvious that the tariffs are going to help the U.S. to better manage its budget deficit,&#8221; he said.



He concluded by noting that &#8220;Hopefully, all the tariffs will be finalized on August 1st, the Fed signals that rate cuts will be forthcoming and virtually all economic uncertainty will end. As estimates for GDP growth steadily rise, I expect both business and consumer confidence will soar.&#8221;



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



Upcoming Economic Data



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



<ul class="wp-block-list">
<li>June durable-goods orders data will be announced by 8:30 a.m. ET.</li>
</ul>



Stocks In Focus:



<ul class="wp-block-list">
<li>Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) dropped 4.99% after reporting a loss for the second quarter, while sales topped estimates. CEO Lip-Bu Tan shared a memo with employees saying that the company will reduce its workforce to 75,000 employees by the end of the year through layoffs and attrition.</li>



<li>Phillips 66 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>) was up 0.72% as analysts expect it to report earnings of $1.69 per share on revenue of $32.53 billion before the opening bell.</li>



<li>Centene Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNC#NYSE">CNC</a>) rose 1.46% as it is expected to report earnings before the opening bell. Analysts estimate earnings of $1.26 per share on revenue of $44.48 billion.</li>



<li>Charter Communications Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>) advanced 1.36% as analysts expect it to report earnings of $9.78 per share on revenue of $13.76 billion before the opening bell.</li>



<li>NextCure Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXTC#NASDAQ">NXTC</a>) jumped 24.33% after the company presented new preclinical data for NC605, a potential treatment for brittle bone disease.</li>



<li>Garden Stage Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSIW#NASDAQ">GSIW</a>) zoomed 33.94% after the company announced a $4.2 million registered direct offering of 38.4 million ordinary shares and pre-funded warrants at $0.11 per share.</li>



<li>Linkhome Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LHAI#NASDAQ">LHAI</a>) gained 54.42% after listing on July 24 as it upsized its initial public offering of $6 million. Consisting of 1,500,000 shares of common stock, the offering was priced at $4 per share. Before deducting underwriting discounts and offering expenses, the total gross proceeds resulted in $6 million.</li>



<li>Charles Schwab Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) was 1.04% higher after authorizing a $20 billion stock repurchase program.</li>



<li>Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) was up 3.09% after the Federal Communications Commission approved its merger with Skydance Media.</li>
</ul>



Commodities, Gold, And Global Equity Markets:



Crude oil futures were trading higher in the early New York session by 0.42% to hover around $66.31 per barrel.



Gold Spot US Dollar fell 0.73% to hover around $3,344.22 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was higher by 0.33% at the 97.7020 level.



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



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Photo courtesy: Shutterstock

GSIW

LHAI

NXTC

PARA

SCHW

US Stocks Likely To Open On A Mixed Note: Intel, Philips 66, Centene, Charter Earnings In Focus

Honeywell International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>) on Thursday reported <a target="_blank" href="https://www.benzinga.com/pressreleases/25/07/n46595843/honeywell-reports-second-quarter-results-updates-2025-guidance" rel="noreferrer noopener">second-quarter 2025 results</a> that beat Wall Street expectations and raised its full-year earnings and sales outlook as it continues a sweeping portfolio transformation.



The company posted adjusted earnings of $2.75 per share, topping <a href="https://www.benzinga.com/earnings">analysts&#8217; estimates of $2.65</a>. Revenue for the quarter rose 8% year over year to $10.35 billion, beating expectations of $10.02 billion.



Net income on a GAAP basis was $2.45 per share, up 4% from the prior-year period.



Also Read: <a href="https://www.benzinga.com/analyst-stock-ratings/reiteration/25/07/46400504/honeywell-set-to-soar-analyst-says-smart-price-hikes-solid-backlog-ma-could-drive-big-gains" target="_blank" rel="noreferrer noopener">Honeywell Set To Soar? Analyst Says Smart Price Hikes, Solid Backlog, M&amp;A Could Drive Big Gains</a>



Operating income rose 7% and segment profit increased 8% to $2.4 billion, led by strength in Building Automation and Defense and Space. Operating margin contracted 30 basis points to 20.4% and segment margin contracted 10 basis points to 22.9%.



Operating cash flow was $1.3 billion, down 4% year over year, and free cash flow was $1.0 billion, down 9% year over year.



Segment results were mixed. Aerospace Technologies generated $4.31 billion in sales, up 6% organically, though segment margins declined 170 basis points due to cost inflation and recent acquisitions.



Building Automation posted $1.83 billion in sales with 8% organic growth and a 90 basis-point margin expansion.



Industrial Automation reported $2.38 billion in sales, flat on an organic basis, as gains in sensing and smart energy were offset by declines in warehouse automation and productivity solutions.



Energy and Sustainability Solutions recorded $1.84 billion in sales, up 6% organically, though segment margins contracted due to cost inflation and a customer settlement.



The quarter also marked continued execution on Honeywell&#8217;s portfolio restructuring. The company closed its $2.2 billion <a target="_blank" href="https://www.benzinga.com/25/03/44109915/honeywell-acquires-sundyne-for-216-billion-expanding-energy-and-industrial-equipment-portfolio" rel="noreferrer noopener">acquisition</a> of Sundyne, <a target="_blank" href="https://www.benzinga.com/news/large-cap/25/05/45561483/honeywell-deepens-renewable-fuels-push-with-2-4-billion-deal" rel="noreferrer noopener">announced</a> the £1.8 billion acquisition of Johnson Matthey&#8217;s Catalyst Technologies business, and completed the $1.3 billion sale of its personal protective equipment unit. It also <a target="_blank" href="https://www.benzinga.com/markets/asset-sales/25/07/46297523/honeywell-eyes-strategic-changes-ahead-of-2026-split" rel="noreferrer noopener">initiated</a> a strategic review of its Productivity Solutions and Services and Warehouse and Workflow Solutions segments.



In February, Honeywell <a target="_blank" href="https://www.benzinga.com/news/earnings/25/02/43526541/honeywell-q4-earnings-revenue-and-eps-beat-pursues-planned-split-into-3-public-companies-by-2026" rel="noreferrer noopener">announced</a> it would separate its Automation and Aerospace businesses. The Solstice Advanced Materials spin-off remains on track for the fourth quarter of 2025, with the full restructuring expected to be completed in the second half of 2026.



&#8220;With the announcement of our review of strategic alternatives for our Productivity Solutions and Services and Warehouse and Workflow Solutions businesses, this month also marked the conclusion of the in-depth portfolio review that I initiated early in my tenure as CEO to simplify and optimize Honeywell&#8217;s businesses. As we prepare to separate into three industry-leading public companies, we are confident that our efforts to shape our portfolio have positioned Honeywell to deliver significant value for customers, employees, and shareholders,&#8221; commented Vimal Kapur, chairman and chief executive officer of Honeywell.



<h2 class="wp-block-heading">Outlook 2025</h2>



Honeywell raised its full-year 2025 adjusted earnings guidance to $10.45 to $10.65 per share, up from its prior forecast of $10.20 to $10.50, <a href="https://www.benzinga.com/calendars/guidance">versus the consensus of $10.40</a>.



The company also increased its full-year sales outlook to $40.8 billion and $41.3 billion, up from $39.6 billion to $40.5 billion, versus a consensus of $40.27 billion.



Honeywell expects operating cash flow to be between $6.7 billion and $7.1 billion, and free cash flow between $5.4 billion and $5.8 billion. Excluding the Bombardier settlement, it forecasts 3% to 4% organic sales growth, slightly lower segment margins, and adjusted EPS growth of 1% to 3%.



For the third quarter, Honeywell expects adjusted earnings of $2.50 to $2.60 per share, compared with the analysts&#8217; estimate of $2.54. GAAP earnings are projected to range from $2.30 to $2.40 per share.



Sales are expected to be between $10 billion and $10.3 billion, versus the consensus of $10.02 billion. The updated forecast includes contributions from the Sundyne acquisition and the sale of its personal protective equipment business.



Price Action: At last check Thursday, HON shares were trading lower by 3.04% to $232 premarket.



Read Next:



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<li><a href="https://www.benzinga.com/markets/tech/25/07/46597398/elon-musks-starlink-powered-t-satellite-aims-to-end-dead-zones-but-expert-warns-this-will-bite-t-mobile-after-12-month-deal-ends" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s Starlink-Powered T-Satellite Aims To End Dead Zones — But Expert Warns: &#8216;This Will Bite T-Mobile&#8217; After 12-Month Deal Ends</a></li>
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Photo by Piotr Swat via Shutterstock

Movers

Honeywell Lifts Outlook As Transformation Picks Up Speed

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