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General

The FDA Approves Eli Lilly's Label Update With A New Recommended Titration Dosing Schedule For Kisunla (Donanemab-azbt), Once-monthly Amyloid-targeting Therapy For Adults With Early Symptomatic Alzheimer's Disease

Venture capitalist Harry Stebbings says founders who clock out at 5 pm will never helm a $10 billion company, arguing the global race for artificial intelligence dominance demands "seven days a week" commitment.
What Happened: Stebbings ignited a firestorm in June when he <a href="https://www.linkedin.com/posts/harrystebbings_founder-funding-business-activity-7334473729579606016-56Od/">wrote</a> on LinkedIn that "7 days a week is the required velocity to win right now," warning European startups they are competing with round-the-clock teams in Silicon Valley and China.
The post, viewed hundreds of thousands of times, surprised the 20VC founder. "I wasn't prepared for the criticism," he <a href="https://www.cnbc.com/2025/07/08/vc-behind-996-work-culture-debate-defends-7-day-work-weeks-.html">later told</a> CNBC Make It.
Critics <a href="https://thenextweb.com/news/startup-founders-7-day-work-week">branded</a> the message "toxic" and "childish," saying Europe needs capital, not burnout. Stebbings countered that speed separates winners from also-rans. "When you go to the Valley now, and when you go to China now, they are working seven days a week in the fastest-growing companies. It's that simple."
He cited China's "996" ethos as proof that relentless pace drives scale, though he called adopting it verbatim "ignorant" without breaks for gym, family, or friends. "There is nuance," he said. "I'm not saying miss dinner or just sit at your desk all day."
The 996 working hour system refers to a grueling schedule—9 a.m. to 9 p.m., six days a week—practiced by some Chinese companies, especially in tech. Though illegal under Chinese labor laws, it&#8217;s widely used, according <a href="https://pitchbook.com/news/articles/should-chinas-996-work-culture-be-the-new-normal-for-startup-founders">to</a> PitchBook. 
See also: <a href="https://www.benzinga.com/markets/equities/25/07/46313915/tom-lee-calls-robinhood-morgan-stanley-for-gen-z-draws-1980s-wall-street-broker-analogy-to-explain-fintechs-rise">Tom Lee Calls Robinhood &#8216;Morgan Stanley&#8217; For Gen Z, Draws 1980s Wall Street Broker Analogy To Explain Fintech&#8217;s Rise</a>
Stebbings, whose London-based firm manages roughly $650 million as per a FT <a href="https://www.ft.com/content/7b553b44-7c92-415c-979e-5b500bb8108f">report</a> from late 2024, argues Europeans lack marketing flair, not cash. "If you think that you can build a $10 billion business and work five days a week, then I'm sorry to say, you're deluding yourself."
Why It Matters: Stebbings isn&#8217;t the only one vouching for more struggle and dedication in the workplace. Shark Tank investor Kevin O&#8217;Leary recently said on a podcast that he believes only about <a href="https://www.benzinga.com/personal-finance/entrepreneurship/25/07/46265862/kevin-oleary-says-youll-never-be-free-if-you-remain-an-employee-but-theres-actually-nothing-wrong-with-it-heres-why">one in three</a> has the grit to thrive as an entrepreneur.
Similarly, Scale AI's billionaire co-founder Lucy Guo says anyone focused on hunting work-life balance is likely &#8220;not in the right work,&#8221; arguing <a href="https://www.benzinga.com/markets/tech/25/06/46046542/scale-ais-co-founder-says-those-seeking-work-life-balance-are-not-in-the-right-work">90-hour weeks</a> are the new baseline for startup success. A handful of others agree. Google co-founder Sergey Brin recently <a href="https://www.benzinga.com/news/25/03/44145930/its-the-sweet-spot-googles-sergey-brin-wants-engineers-in-the-office-60-hours-a-week-theyre-building-ai-that-may-make-them-obsolete">told AI teams</a> that &#8220;60 hours is the sweet spot,&#8221; according to a leaked memo.
Read next: 
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<li><a href="https://www.benzinga.com/news/politics/25/07/46313491/trump-says-he-would-have-done-doge-cuts-differently-downplays-concerns-over-elon-musks-third-party-i-think-itll-help-us">Trump Says He Would Have Done DOGE Cuts &#8216;Differently,&#8217; Downplays Concerns Over Elon Musk&#8217;s Third Party: &#8216;I think It&#8217;ll Help Us&#8217;</a></li>
</ul>
Image Via Shutterstock

Entrepreneurship

Startups

Tech

VC Insists Only '996' Culture Can Propel Toward Billion-Dollar Startups, But Reveals 'There Is Nuance'

Needham analyst Bernie McTernan maintains Super Group (SGHC) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGHC#NYSE">SGHC</a>) with a Buy and raises the price target from $11 to $14.

Price Target

Analyst Ratings

SGHC

Needham Maintains Buy on Super Group (SGHC), Raises Price Target to $14

Oppenheimer analyst Brian Schwartz upgrades Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) from Perform to Outperform and announces $600 price target.

Upgrades

MSFT

Oppenheimer Upgrades Microsoft to Outperform, Announces $600 Price Target

HC Wainwright &amp; Co. analyst Andres Maldonado reiterates I-MAB (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMAB#NASDAQ">IMAB</a>) with a Buy and maintains $7 price target.

Reiteration

IMAB

HC Wainwright & Co. Reiterates Buy on I-MAB, Maintains $7 Price Target

Keybanc analyst Brandon Nispel downgrades T-Mobile US (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) from Sector Weight to Underweight and maintains the price target from $200 to $200.

Downgrades

TMUS

Keybanc Downgrades T-Mobile US to Underweight, Maintains Price Target to $200

Needham analyst Gil Blum reiterates I-MAB (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMAB#NASDAQ">IMAB</a>) with a Buy and maintains $5 price target.

Needham Reiterates Buy on I-MAB, Maintains $5 Price Target

In a bold projection that paints a picture of tomorrow&#8217;s workforce, Chinese tech giant Alibaba Group Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) anticipates that <a target="_blank" href="https://www.benzinga.com/topic/alibaba" rel="noreferrer noopener">AI-powered &#8220;digital colleagues&#8221;</a> will be an everyday reality within the next five years.
This isn&#8217;t just a futuristic fantasy; it&#8217;s a strategic vision fueled by a burgeoning ecosystem of developers crafting sophisticated AI agents to cater to both consumer and business demands.
These digital colleagues, essentially virtual employees powered by AI software, are set to revolutionize how we work by taking on the repetitive, routine tasks traditionally handled by humans.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/tech/25/07/46273435/huawei-alibaba-clash-heats-up-on-ai-model-plagiarism-allegations" rel="noreferrer noopener">Huawei-Alibaba Clash Heats Up On AI Model Plagiarism Allegations</a>
This shift, according to Alibaba, will free up human employees to concentrate on more strategic, creative, and high-value responsibilities.
Huang Fei, vice president of Alibaba Cloud and head of its Tongyi Natural Language Processing Lab, <a target="_blank" href="https://www.scmp.com/business/china-business/article/3317429/alibaba-expert-envisions-ai-agents-transforming-daily-life-5-years" rel="noreferrer noopener">told</a> the SCMP that agentic AI systems that autonomously carry out tasks and achieve goals on behalf of users are quickly gaining momentum across the industry.
Speaking at the China Conference 2025 hosted by the SCMP, Huang outlined how a handful of core model providers and a broader base of developers building specialized agents will likely shape the AI landscape.
This vision aligns with Alibaba&#8217;s broader strategy to become a central player in AI infrastructure and foundational models. The company&#8217;s Qwen series of open-source large language models has gained strong adoption, and Alibaba has committed over $53 billion toward AI infrastructure over the next three years.
Huang emphasized Hong Kong&#8217;s potential as a hub for AI development, citing its strong legal system, government support, leading universities, access to capital, and close connection to mainland China. He said the city provides financial backing, talent, and foundational support for the AI industry.
He also pointed to Hong Kong&#8217;s first AI Supercomputing Centre, launched in December and run by the government-backed Cyberport Management Company, which has already reached 90% utilization.
Huang outlined five stages in AI evolution. The first involved chatbots capable of responding to human language. The second, called the &#8220;reasoner,&#8221; included AI that could tackle math and code. The third, the &#8220;agent&#8221; stage, marks a shift toward systems that understand user goals and use tools to perform complex tasks.
This transformation is already being felt across industries. In June, Salesforce (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) CEO Marc Benioff revealed that AI <a target="_blank" href="https://www.benzinga.com/markets/tech/25/06/46135663/marc-benioff-says-ai-now-handles-up-to-50-of-work-at-salesforce-could-an-ai-agent-eventually-take-over-his-job" rel="noreferrer noopener">now handles up to 50%</a> of tasks in key areas like engineering, coding, and support. When asked if AI could replace him, Benioff joked, &#8220;I hope so,&#8221; highlighting AI&#8217;s growing role, even at the top.
Similarly, Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) CEO Satya Nadella stated in March that <a target="_blank" href="https://www.benzinga.com/news/25/03/44066026/satya-nadella-says-ai-agents-will-replace-knowledge-work-but-theres-one-role-humans-will-always-need-to-play" rel="noreferrer noopener">AI will transform</a> how people perform cognitive tasks, rather than replacing knowledge workers outright. He foresees AI agents managing repetitive work, liberating humans for creativity and strategic thinking, much like email or spreadsheets did for previous generations.
Meanwhile, Alibaba and other Chinese stocks faced downward pressure on Wednesday amidst looming U.S. tariff deadlines. President Trump signaled potential tariffs as high as 70% effective August 1, a significant jump from the 10%-50% range proposed in April, as reported by Reuters on Tuesday. 
The first batch of tariff notification letters was sent to 12 countries on Monday, just before Wednesday&#8217;s deadline, marking the end of a 90-day pause. Investors anticipate continued uncertainty, as a comprehensive trade deal with all major partners—including India, Japan, and the EU—is unlikely to materialize this week.
It&#8217;s a stark contrast to May, when Beijing and Washington had <a target="_blank" href="https://www.benzinga.com/government/regulations/25/05/45348699/us-listed-chinese-stocks-rally-as-countries-agree-to-ease-import-tariffs" rel="noreferrer noopener">agreed to temporary tariff reductions</a>: the U.S. cutting tariffs on most Chinese imports from 145% to 30%, and China lowering duties on American products from 125% to 10% for a 90-day period.
Price Action:&nbsp;BABA shares are trading lower by&nbsp;2.64% to&nbsp;$105.14 premarket at&nbsp;last check on Wednesday.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/movers/25/07/46292413/alibabas-delivery-ambition-sets-stage-for-chinas-epic-clash-of-giants" target="_blank" rel="noreferrer noopener">Alibaba&#8217;s Delivery Ambition Sets Stage For China&#8217;s Epic Clash Of Giants</a></li>
</ul>
Photo by Mamun_Sheikh via Shutterstock

Asia

Media

AAPL

BABA

Alibaba Predicts AI Digital Colleagues Will Be Commonplace Within Five Years

Acquisition aligns with Merck's science-led business development strategy and expands pipeline and portfolio of treatments for cardio-pulmonary diseases
Merck to hold investor call at 8 a.m. ET today
Merck (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>), known as MSD outside of the United States and Canada, and Verona Pharma plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRNA#NASDAQ">VRNA</a>) ("Verona Pharma"), a biopharmaceutical company focused on respiratory diseases, today announced that the companies have entered into a definitive agreement under which Merck, through a subsidiary, will acquire Verona Pharma for $107 per American Depository Share (ADS), each of which represents eight Verona Pharma ordinary shares, for a total transaction value of approximately $10 billion.
Through this acquisition Merck will add Ohtuvayre&#xAE; (ensifentrine), a first-in-class selective dual inhibitor of phosphodiesterase 3 and 4 (PDE3 and PDE4), to its growing cardio-pulmonary pipeline and portfolio. The U.S. Food and Drug Administration <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.veronapharma.com%2Fnews%2Fverona-pharma-announces-us-fda-approval-of-ohtuvayre-ensifentrine%2F&amp;esheet=54287806&amp;newsitemid=20250708346048&amp;lan=en-US&amp;anchor=approved&amp;index=1&amp;md5=aa256e353e68095e072f61ca5f9dd864">approved</a> Ohtuvayre in June 2024 for the maintenance treatment of chronic obstructive pulmonary disease (COPD) in adult patients. Ohtuvayre is the first novel inhaled mechanism for the treatment of COPD in more than 20 years and combines bronchodilator and non-steroidal anti-inflammatory effects. Ohtuvayre is also being evaluated in clinical trials for the treatment of non-cystic fibrosis bronchiectasis.
The transaction was unanimously approved by both the Merck and Verona Pharma Boards of Directors and is intended to be effected by way of a scheme of arrangement under UK law. Closing of the proposed acquisition is subject to approval under the Hart-Scott-Rodino Antitrust Improvements Act, approval of Verona Pharma shareholders, sanction by the High Court of Justice of England and Wales and other customary conditions. The transaction is expected to close in the fourth quarter of 2025 and will result in the capitalization of most of the purchase price as an intangible asset for Ohtuvayre (which will be amortized as a GAAP-only charge over the life of the product). &nbsp;

VRNA

Merck To Acquire Verona Pharma In $10B Deal, Offering $107 Per ADS

Needham analyst Laura Martin maintains Roku (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>) with a Buy and raises the price target from $88.5 to $100.

ROKU

Needham Maintains Buy on Roku, Raises Price Target to $100

Billionaire venture capitalist Chamath Palihapitiya believes a long-term decline of the U.S. dollar is not an existential concern for America, despite the currency&#8217;s worst first-half performance in over 50 years.
What Happened: Speaking on the All-In podcast on Friday, Palihapitiya responded to host Jason Calacanis, highlighting that the U.S. Dollar Index (DXY) lost nearly 11% of its value against major currencies in the first six months of 2025. 
While Calacanis described the slump as &#8220;shocking,&#8221; Palihapitiya argued the dollar has been in decline for decades without major consequences because gains from U.S. assets have consistently outweighed currency depreciation.
&#8220;This has been a one-way trade for a very long time,&#8221; Palihapitiya said. &#8220;The United States finances a lot of growth, and that has been the right decision. Unless you see a complete collapse in the currency, I suspect that this decay continues to happen.&#8221;
The key question, according to Palihapitiya, is whether dollar decline represents a fundamental problem. &#8220;The answer is it depends. Because if asset prices increase faster than the dollar devalues, you&#8217;re still ahead,&#8221; he explained.
Palihapitiya emphasized that U.S. assets remain the global &#8220;flight to quality&#8221; across equity markets, real estate, and hard assets. &#8220;The reality is that a lot of people still want to own these assets more than they want to own other assets and those assets are dollar-denominated.&#8221;
He noted that constant demand for dollar-denominated assets will persist as long as &#8220;there&#8217;s American ingenuity and American supremacy,&#8221; meaningfully offsetting USD holding risks.
See Also: <a href="https://www.benzinga.com/markets/equities/25/07/46312401/dow-tumbles-over-150-points-amid-trump-tariffs-investor-sentiment-declines-fear-index-moves-to-greed-zone">Dow Tumbles Over 150 Points Amid Trump Tariffs: Investor Sentiment Declines, Fear Index Moves To &#8216;Greed&#8217; Zone</a>
Why It Matters: The dollar&#8217;s decline accelerated after Germany launched large-scale stimulus and the EU unveiled its €800 billion &#8220;ReArm Europe&#8221; plan in March. Trump&#8217;s &#8220;Liberation Day&#8221; tariffs in April and a 0.5% f<a href="https://www.benzinga.com/markets/forex/25/06/46175116/weaker-dollar-stocks-beneficiaries-foreign-revenue">irst-quarter economic contraction further pressured the currency</a>.
Economist Peter Schiff warned that &#8220;the world is losing confidence in the dollar&#8221; <a href="https://www.benzinga.com/markets/bonds/25/05/45396490/peter-schiff-says-trade-truce-aside-the-world-is-losing-confidence-in-dollar-and-in-us-ability-to-put-fiscal-house-in-order">after 10-year Treasury yields climbed</a> to 4.5% in May. Warren Buffett <a href="https://www.benzinga.com/general/market-summary/25/05/45218040/warren-buffett-expresses-disappointment-over-dollar-depreciation-dont-want-to-own-assets-in-a-currency-that-is-really-going-to-hell">expressed disappointment over dollar depreciation</a>, saying investors wouldn&#8217;t want assets &#8220;in a currency that was really going to hell.&#8221;
However, analysts note the <a href="https://www.benzinga.com/25/05/45213790/us-dollar-depreciation-is-cushioning-the-impact-of-tariffs-on-corporate-profits-says-expert-heres-how">weaker dollar benefits U.S. multinational</a>s with significant overseas revenue, as approximately 40-45% of S&amp;P 500, tracked by SPDR S&amp;P 500 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), revenues come from abroad. 
Price Action: The U.S. Dollar Index is currently trading at 97.56, reflecting a year-to-date decline of 10.07%. Among related ETFs, the Invesco DB U.S. Dollar Index Bullish Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) is down 7.92% at $27.09, while the WisdomTree Bloomberg U.S. Dollar Bullish Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USDU#NYSE">USDU</a>) is trading at $26.01, down 5.97% year-to-date.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: Adny on Shutterstock.com

Currency ETFs

Economics

USDU

PowerShares DB US Dollar Index Bullish Fund

Chamath Palihapitiya Shrugs Off Dollar's 11% Slide In Worst Half-Century Drop, Says 'Decay Continues' Without Total Collapse

TRMB

Trimble And KT Corporation Partner To Deliver Bundled Telecom And Centimeter-Level Precise Positioning Services Across South Korea

Needham analyst David Saxon reiterates RxSight (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RXST#NASDAQ">RXST</a>) with a Buy and maintains $22 price target.

RXST

Needham Reiterates Buy on RxSight, Maintains $22 Price Target

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) recorded a 9.09% year-over-year jump in Model Y sales in the Chinese market during June, in line with the company's better-than-expected Q2 deliveries.
Check out the current price of <a href="https://benzinga.com/quote/tsla">TSLA stock here</a>.
What Happened: The EV giant sold 44,848 units of the SUV in the Chinese market after experiencing a two-month decline in sales figures, data obtained by CnEVPost showed <a href="https://cnevpost.com/2025/07/09/tesla-model-y-sales-china-jun-2025/">on</a> Wednesday.
The Model Y sales increased by over 81% in June compared to May, the data showed. However, the Model Y's cumulative sales were down, as Tesla recorded 171,491 units sold, which is a 17.48% YoY decline.
Why It Matters: The news comes in despite Tesla experiencing a <a href="https://www.benzinga.com/markets/asia/25/07/46289899/tesla-china-sales-plunge-over-75-in-first-week-of-july-despite-strong-q2-deliveries">weak performance in sales</a> during the week of June 30 to July 6 in China, as the company sold 5,010 units.
However, Tesla sales also <a href="https://www.benzinga.com/markets/tech/25/07/46257617/elon-musk-led-tesla-sales-surge-12-in-the-uk-during-june-q2-deliveries-beat-analyst-estimates">surged in the UK</a>, where the company recorded a 12% increase as the company delivered 7,189 units during Q2 2025. This coincides with Musk's decision to <a href="https://www.benzinga.com/markets/tech/25/07/46214467/elon-musk-will-oversee-tesla-sales-in-the-us-europe-after-omead-afshars-exit-report">assume oversight of Tesla sales</a> in Europe and the U.S. after Omead Afshar's exit from the company.
Elsewhere, amid the political turmoil resulting from rising tensions between Musk and U.S. President Donald Trump, <a href="https://www.benzinga.com/markets/tech/25/07/46288776/ross-gerber-slams-joke-tesla-board-as-elon-musk-returns-to-politics-dan-ives-says-musk-cannot-start-own-political-party-and-remain-ceo">experts have slammed</a> the billionaire's decision to pursue his political ambitions via the "America Party."
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="198" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/09061800/TSLA-JUL-9-2025-1024x198.jpg" alt="" class="wp-image-978073" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/09061800/TSLA-JUL-9-2025-1024x198.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/09061800/TSLA-JUL-9-2025-300x58.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/09061800/TSLA-JUL-9-2025-768x149.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/09061800/TSLA-JUL-9-2025-1536x297.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/09061800/TSLA-JUL-9-2025.jpg 1560w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Tesla offers poor Momentum and Value, while scoring well on the Growth metric and offering satisfactory Quality. For more such insights, sign up for<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"> Benzinga Edge Stock Rankings</a> today!
Check out more of Benzinga's Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>
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</ul>
Photo courtesy: VTT Studio / Shutterstock.com

TSLA

Elon Musk-Led Tesla Records 9% Surge in June Model Y Sales In China

Needham analyst Quinn Bolton reiterates Penguin Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENG#NASDAQ">PENG</a>) with a Buy and maintains $27 price target.

Penguin Solutions, Inc. - Ordinary Shares

PENG

Needham Reiterates Buy on Penguin Solutions, Maintains $27 Price Target

WestPark Capital analyst Curtis Shauger initiates coverage on C3.ai (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AI#NYSE">AI</a>) with a Buy rating and announces Price Target of $40.

Initiation

WestPark Capital Initiates Coverage On C3.ai with Buy Rating, Announces Price Target of $40

Citigroup analyst Patrick Donnelly downgrades Illumina (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>) from Neutral to Sell and lowers the price target from $85 to $80.

ILMN

Citigroup Downgrades Illumina to Sell, Lowers Price Target to $80

U.S. stock futures advanced on Wednesday after ending on a mixed note on Tuesday. Futures of major benchmark indices were trading higher.
President Donald Trump announced a <a href="https://www.benzinga.com/markets/equities/25/07/46305321/copper-price-surges-trump-tariffs-stocks-july-2025">50% tariff on copper imports</a> and confirmed the &#8220;reciprocal&#8221; tariffs, paused in April, will resume on Aug. 1, stating, &#8220;no extensions will be granted&#8221; to countries without finalized deals by that date. 
The 10-year Treasury bond yielded 4.41% and the two-year bond was at 3.90%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool&#8217;s</a> projections show markets pricing a 95.3% likelihood of the Federal Reserve keeping the current interest rates unchanged in its July meeting.
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<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.20%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.18%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>0.19%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>0.08%</td>
</tr>
</tbody>
</table>
</figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, were higher in premarket on Wednesday. The SPY was up 0.17% at $621.37, while the QQQ advanced 0.16% to $553.24, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Cues From Last Session:
Energy and materials stocks bucked the overall market trend, closing Tuesday&#8217;s session higher, while most other sectors on the S&amp;P 500 ended negatively.
Consumer staples, utilities, and financial stocks notably recorded the biggest losses.
U.S. stocks settled mostly lower on Tuesday.
Shares of ProKidney Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PROK#NASDAQ">PROK</a>) jumped an impressive 515% on Tuesday. This surge followed the company&#8217;s announcement of statistically and clinically significant topline results from its Phase 2 REGEN-007 trial, which evaluated Rilparencel in patients with chronic kidney disease and diabetes.
On the economic data front, the US Manheim Used Vehicle Value Index saw a 1.6% month-over-month increase for June, a rebound after a 1.4% decline in May. Meanwhile, the NFIB Small Business Optimism Index dipped to 98.6 in June from 98.8 in May, slightly below market estimates of 98.7.
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>0.029%</td>
<td>20,418.46</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.072%</td>
<td>6,225.52</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.37%</td>
<td>44,240.76</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>0.66%</td>
<td>2,228.74</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Jeffrey Buchbinder, the chief equity strategist at LPL Financial, forecasted modest gains for equities in its mid-year outlook.
&#8220;AI-driven capex remains a key tailwind, but tariff-related earnings pressure and elevated valuations may cap upside. Pullbacks should be viewed as selective buying opportunities,&#8221; he said.
LPL's year-end S&amp;P 500 target range was set at 6,000 to 6,100 points, based on $275 in 2026 EPS.
Meanwhile, the senior economist at WisdomTree, Jeremy Siegel, said that &#8220;Equity markets found encouragement, not because employment showed strength, but because it did not show further deterioration.&#8221;
Talking about AI, he said, &#8220;Companies able to leverage AI for productivity gains—particularly in financials and traditional industries—are poised to outperform.&#8221;
Siegel also stated that he will be closely watching for a potential shift in market leadership. &#8220;July has opened strongly for smaller caps, but I believe the stage is set for a longer-lasting rotation.&#8221;
&#8220;If users begin to invest in cost-saving technologies under the pressure of higher tariffs or wage costs, value could finally have its day,&#8221; he added.
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How to Trade Futures</a> 
Upcoming Economic Data
Here&#8217;s what investors will keep an eye on Wednesday:
<ul class="wp-block-list">
<li>The wholesale inventories data will be out by 10:00 a.m. ET.</li>
<li>Minutes of the Fed&#8217;s May FOMC meeting will be released by 2:00 p.m. ET.</li>
</ul>
Stocks In Focus:
<ul class="wp-block-list">
<li>Entero Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENTO#NASDAQ">ENTO</a>) surged 57.84% after regaining Nasdaq compliance following its annual meeting.</li>
<li>Calidi Biotherapeutics Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLDI#NYSE">CLDI</a>) zoomed 50.57% after it announced the development of a precision genetic medicine platform for cancer treatment. Its innovative approach focuses on using engineered viruses to deliver genetic medicines that can target both primary tumors and metastatic sites.</li>
<li>Sobr Safe Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOBR#NASDAQ">SOBR</a>) climbed 42.73% after the company announced it had been granted European patent number EP4171362.</li>
<li>Birks Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BG#NYSE">BG</a>) gained 21.10% after completing the acquisition of the Watch and Jewellery Business of European Boutique and related debt financing amendments.</li>
<li>Sharplink Gaming Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBET#NASDAQ">SBET</a>) advanced 14.06% after the company announced that it acquired an additional 7,689 ETH for the week of June 28 through July 4.</li>
<li>GameSquare Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GAME#NASDAQ">GAME</a>) was 1.95% higher after a $100 million Ethereum investment announced on Tuesday spurred a 58% rally.</li>
<li>AZZ Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZZ#NYSE">AZZ</a>) rose 2.01% in premarket on Wednesday as analysts expect it to report earnings of $1.58 per share on revenue of $434.79 million after the closing bell.</li>
<li>Methode Electronics Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MEI#NYSE">MEI</a>) advanced 4.72% as it is expected to report earnings after market close. Analysts estimate earnings of 4 cents per share on revenue of $232.87 million.</li>
<li>Penguin Solutions Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TZUP#NASDAQ">TZUP</a>) dropped 6.09% after reporting upbeat earnings for the third quarter, while sales missed estimates. The company raised its FY2025 earnings guidance, but narrowed its sales forecast.</li>
<li>Aehr Test Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEHR#NASDAQ">AEHR</a>) plummeted 20.11% after posting weaker-than-expected revenue for the fourth quarter on Tuesday. Aehr Test Systems reported fourth-quarter revenue of $14.09 million, missing analyst estimates of $14.82 million.</li>
</ul>
Commodities, Gold, And Global Equity Markets:
Crude oil futures were trading lower in the early New York session by 0.51% to hover around $68.68 per barrel.
Gold Spot US Dollar fell 0.37% to hover around $3,289.34 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was higher by 0.06% at the 97.5760 level.
Asian markets ended mostly lower on Wednesday, except South Korea's Kospi and Japan's Nikkei 225 indices. Meanwhile, India's S&amp;P BSE Sensex, Hong Kong's Hang Seng, Australia's ASX 200, and China&#8217;s CSI 300 indices fell. European markets were higher in early trade.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/07/46313514/warren-buffetts-quiet-dividend-play-9-high-yield-stocks-held-by-a-berkshire-subsidiary">Warren Buffett&#8217;s Quiet Dividend Play: 9 High-Yield Stocks Held By A Berkshire Subsidiary</a></li>
</ul>
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