Wall Street is poised to conclude the week on a cautious note, with equities easing on Friday after President Donald Trump signaled a <a href="https://www.benzinga.com/topic/donald-trump">more aggressive trade stance. </a>



A formal letter outlining tariff intentions is expected to be delivered to EU leaders in the coming hours, following Trump&#8217;s announcement earlier this week of a 35% tariff on Canadian imports starting Aug. 1 and blanket duties of 15% to 20% on most other trading partners.



The S&amp;P 500 dipped 0.2% and the Nasdaq Composite was flat, after both notched fresh record highs on Thursday. The Dow Jones Industrial Average fell nearly 300 points, dragged down by renewed fears of a global trade escalation and weak sentiment in industrials and financials. Small caps, which had outperformed in recent sessions, dropped over 1%. 



Treasury markets reflected the increased anxiety. The yield on the 10-year U.S. Treasury note climbed nearly 4 basis points to 4.39%, as investors braced for potential inflationary effects from tariffs.



Commodities took center stage, with gold jumping over 1% to $3,355 per ounce, supported by safe-haven flows amid deepening trade frictions. Silver extended its bullish run, surging past $38 per ounce, its highest level in nearly 14 years.



Crude oil prices also regained momentum, with West Texas Intermediate (WTI) futures rising above $68 per barrel, recovering from a 2.5% loss in the prior session.



Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) pulled back modestly after hitting a new all-time high of $118,839 overnight. The largest cryptocurrency was last trading near $117,500 as broader risk sentiment weakened. 



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



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Major Indices</td><td>Price</td><td>Chg %</td></tr><tr><td>Nasdaq 100</td><td>22,842.01</td><td>0.0%</td></tr><tr><td>S&amp;P 500</td><td>6,267.82</td><td>-0.2%</td></tr><tr><td>Dow Jones</td><td>44,374.39</td><td>-0.6%</td></tr><tr><td>Russell 2000</td><td>2,242.18</td><td>-1.0%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 1:30 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>) fell 0.3% to $573.92.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) dropped 0.6% to $443.91.</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;flattened at $555.28.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) dropped $222.59.</li>



<li>The&nbsp;Energy&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) outperformed, up 0.5%; the&nbsp;Health Care&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) lagged, down 1.1%.</li>
</ul>



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



<ul class="wp-block-list">
<li>Halliburton Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>) rallied 3.7% after TD Cowen raised its price target to $36 from $32, while reiterating a Buy rating.</li>



<li>Enphase Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) fell 4.5% after HSBC lowered its price target to $47 from $50, maintaining a Hold rating.</li>



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4.28906 7.1416C4.17212 6.55728 3.94179 6.04956 3.58203 5.66211C3.22483 5.27757 2.72347 4.99395 2.0332 4.87891C1.88897 4.85446 1.7832 4.72938 1.7832 4.58301C1.78335 4.43673 1.88902 4.3115 2.0332 4.28711C2.72366 4.17203 3.22481 3.88861 3.58203 3.50391C3.94186 3.11638 4.17214 2.60888 4.28906 2.02441L4.30371 1.97363C4.34801 1.86052 4.45804 1.78333 4.58301 1.7832Z"></path><div class="text-center"></div><path d="M6.24992 11.0417C6.65578 11.0417 7.04227 10.9587 7.39339 10.809C7.05099 11.7065 6.35374 12.9827 5.29864 13.1333C4.84303 13.1985 4.52644 13.6206 4.59153 14.0762C4.65662 14.5318 5.07873 14.8484 5.53434 14.7832C7.66169 14.4794 8.93792 12.0592 9.30742 10.1591C9.50975 9.11833 9.48792 7.98412 9.04084 7.03938C8.53525 5.97097 7.43538 5.20335 6.23748 5.20834C4.63238 5.21504 3.33325 6.5183 3.33325 8.12498C3.33325 9.73583 4.63909 11.0417 6.24992 11.0417Z"></path><path d="M13.4832 11.0417C13.889 11.0417 14.2755 10.9587 14.6267 10.809C14.2843 11.7065 13.587 12.9827 12.5319 13.1333C12.0763 13.1985 11.7597 13.6206 11.8248 14.0762C11.8899 14.5318 12.312 14.8484 12.7676 14.7832C14.8949 14.4794 16.1712 12.0592 16.5407 10.1591C16.743 9.11833 16.7212 7.98412 16.2741 7.03938C15.7685 5.97097 14.6687 5.20335 13.4708 5.20834C11.8656 5.21504 10.5665 6.5183 10.5665 8.12498C10.5665 9.73583 11.8724 11.0417 13.4832 11.0417Z"></path>Boyd Gaming Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYD#NYSE">BYD</a>) tumbled 6% after announcing it will sell its 5% stake in FanDuel to Flutter Entertainment for $1.76 billion. The deal is expected to close in the third quarter of 2025.</li>
</ul>



Read Next:



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<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/07/46369817/goldman-sachs-top-ai-chip-stocks-2025-nvidia-broadcom">Goldman Sachs: 4 Must-Buy Chip Stocks, And A Few You Should Forget</a></li>
</ul>



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$BTC

ENPH

Tariff Jitters Hit Stocks, Silver Jumps To 14-Year Highs: What's Moving Markets Friday?

Bitcoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) price surge to new all time highs on Thursday is not merely crypto euphoria but a broader macro story: according to several leading executives in the digital asset space, that story revolves around weakening <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46363070/bitcoin-sets-all-time-high-at-118909-ethereum-xrp-surge-8-each">confidence in the U.S. dollar.</a>



Bitcoin&#8217;s performance in non-dollar currencies



While Bitcoin has already achieved new all-time highs in USD terms, it remains just shy of similar milestones against the euro and Swiss franc. 



Analysts say that may soon change as macroeconomic conditions shift further in BTC's favor.



"Bitcoin isn't underperforming in euros or Swiss francs—the euro and franc have simply been unusually strong," said Shaaran Lakshminarayanan, founder of RWA yield platform Multipli, speaking with Benzinga. "With the dollar weakening, BTC is serving as the high-beta leg of the global ‘short-USD' trade."



This view is echoed by Maclane Wilkison, CEO of Threshold Labs, who points to broader dollar fragility earlier this year as a key factor. 



"The recent BTC strength against the euro and Swiss franc likely reflects broader USD weakness earlier this year," he said. "It's likely that Bitcoin will soon break its all-time highs against both."



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46364023/tom-lee-ethereum-not-solana-is-the-preferred-choice-for-jp-morgan-robinhood-circle-to-build-on">Tom Lee: Ethereum, Not Solana, Is The &#8216;Preferred Choice&#8217; For JP Morgan, Robinhood, Circle To Build On</a>



The macro backdrop



As U.S. inflation expectations drift lower and speculation about Federal Reserve interest rate cuts intensifies, the dollar's grip on global markets appears to be loosening, benefiting alternative assets like Bitcoin.



"Bitcoin's rally has coincided with falling U.S. bond yields and a weakening dollar index," said Lakshminarayanan. "Conditions that generally boost alternative stores of value and risk assets."



Even traditionally strong currencies may begin to feel the effects of monetary pivots. 



Konstantins Vasilenko, Co-Founder of Paybis, noted that institutional interest is also driving price pressure. 



"We're seeing some of the heaviest institutional accumulation ever through the spot and ETF markets," he told Benzinga. "From Michael Saylor's continued purchases to BlackRock's ETF surpassing 700,000 BTC, the demand-supply imbalance makes a case for higher price breakouts."



Still, some caution remains. "The pace [of BTC's rise] can feel a bit slow in the euro and CHF markets due to investor caution around broader economic pressures," said Vasilenko. "But in the long term, more frequent breakouts cannot be ruled out."



Overall, the experts agree: the current rally is not irrational exuberance but a reflection of Bitcoin's positioning in a shifting monetary world order.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46351536/you-can-stake-ethereum-solana-on-robinhood-but-is-it-worth-the-25-cut">You Can Stake Ethereum, Solana On Robinhood—But Is It Worth The 25% Cut?</a></li>
</ul>



Image: Shutterstock

Cryptocurrency

News

Bitcoin Hits Dollar All-Time High, But Trails In Euro, Swiss Franc: Dollar What's Driving The Divergence?

Clean energy investors weren't exactly celebrating Christmas in July when President Donald Trump <a href="https://www.benzinga.com/news/politics/25/07/46263434/trump-signs-sweeping-tax-and-spending-bill-that-cbo-says-will-add-3-3-trillion-to-us-deficit-cut-health-coverage-for-11-8-million-americans">signed</a> the One Big Beautiful Bill Act (OBBBA) into law over the 4th of July holiday weekend.



The bill's primary focus was the extension of his 2017 tax cuts, but it also rolled back several clean energy initiatives that former President Joe Biden had included in the Inflation Reduction Act (IRA) of 2021.



While the official Senate version is more lenient to clean energy than the original House of Representatives&#8217; version, the OBBBA strikes down a number of tax credits and incentives for renewable energy in both residential and commercial spaces.



Some clean energy sources fared better than others. Geothermal, hydroelectric and nuclear energy companies will feel less of a sting, but solar and wind stocks are looking at some serious headwinds coming in 2026.



<h2 class="wp-block-heading">Volatility Watch: Matt Maley's Strategy for Macro-Driven Moves</h2>



Join 42-year Wall Street veteran Matt Maley on Wednesday, July 16, at 6 PM ET—just hours after fresh inflation and industrial production data drop. With macro pressure building and the market stretched near all-time highs, Matt will show how he's trading the next wave of volatility using leveraged ETFs, low-cost options, and real-time macro signals. Register <a href="https://events2.benzinga.com/matt-maley-webinar-wed-july16-2025-registration/?utm_campaign=webinar071625&amp;utm_adType=sponsorad&amp;utm_ad=RDweb071125">HERE</a> for this FREE strategy session.



Some of the key provisions of the new law affecting the renewables sector include:



<ul class="wp-block-list">
<li>Elimination of the 30% residential solar tax credit by the end of 2025 (originally slated to end in 2034).</li>



<li>The phaseout of tax credits for commercial solar and wind projects started after July 4, 2026, for those not placed into service by December 31, 2027.</li>



<li>Elimination of standalone battery backup tax credits after December 31, 2025.</li>



<li>Termination of accelerated depreciation of solar property for anything built after 2024.</li>



<li>Restrictions on receiving "material assistance" from Foreign Entities of Concern (FEOC), i.e., China, where a large percentage of solar components are produced.</li>
</ul>



The renewable energy industry is expected to face reduced demand, higher prices, job losses and increased regulatory burdens as a result of these new provisions. Today, we'll look at three stocks that investors may want to avoid as U.S. energy policy turns against wind and solar.



<h2 class="wp-block-heading">Sunrun Inc.</h2>



Sunrun (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>) is facing headwinds from multiple angles as its stock continues to plunge &#8211; a trend that began last August. The company manufactures and installs solar systems for homeowners, with approximately 85% of its revenue derived from the residential sector. Sunrun's business model is heavily reliant on these tax credits, and now that the phaseout comes in five months instead of nine years, the company will likely face revenue drops and layoffs. Sunrun has a market cap of $2.4 billion and generates approximately $2 billion in annual sales.



However, despite a few profitable quarters, it has yet to post positive net income for a full year and has lost nearly $3 billion in the last 12 months alone. It's also one of the more heavily-shorted stocks on Wall Street, with more than 31% of the float sold short as of this writing. And, despite the recent upgrade from ‘Hold' to ‘Underperform' from Jeffries, the fundamental and technical outlook for Sunrun looks bleak.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXe5gHOg5hvYTQBXlMl4kf9zBusBKextLRn0hBjAyVLasuGdAeixO-UguXjuGf6pa1I7wWkmaT7hp-iFfr6svrhPtQU5Qtcjzu1RLl9CR-LGCwzqw2VZxtv6f0DdvpeQyEyFY7hG9A?key=S9hK9W7ctwEd6DOBWo9D8Q" alt=""/></figure>



Any hope Sunrun shares had of breaking out of their long-term downtrend likely fizzled with the passage of Trump&#8217;s bill. The stock has been fading for nearly 12 months now, with the downtrend line tested but yet to be broken. Two previous attempts to break the downward momentum resulted in quick reversals back to the lows, and now that OBBBA is law and projections indicate continued unprofitability, this cycle of sellers&#8217; momentum is likely to persist.



<h2 class="wp-block-heading">SolarEdge Technologies Inc.&nbsp;</h2>



SolarEdge (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>) is a small-cap producer of inverters and power optimizer systems used in photovoltaic solar projects. The Israeli-based firm has a market capitalization of under $1.6 billion and generates annual sales of less than $900 million, with a net loss of approximately $1.8 billion over the last 12 months. While the company develops systems for both residential and utility-scale projects, regulatory headwinds and a lack of profits could doom the stock in a similar fashion to Sunrun.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcgKKeqTVroVdw_cQ4EoaDdjDGIcI1tWhE1xoiqILQ3MhaYhww3KgPIkHhsQHyJDwmy5GH-V_BQ8FwjCLlYAyvzdcZ6ZRL6lwvo_GG0LrgDoUiIZ_Kj84IYYKB0pAbZuVZqad04Yw?key=S9hK9W7ctwEd6DOBWo9D8Q" alt=""/></figure>



SolarEdge narrowed its losses in Q1 2025, with EPS figures coming in at -$1.14 per share (beating -$1.26 consensus), and the $219 million in revenue represented 7.4% year-over-year (YoY) growth. However, analysts remain unimpressed: the stock has only one Buy rating from the 26 analysts with coverage, along with 15 Hold and 10 Sell ratings. The average price target is just $18.56, which implies a downside of more than 25% from the current market price.



The daily stock chart also provides some hints about the next price move, as the Relative Strength Index (RSI) has triggered an Overbought signal once again. In the previous two instances, the RSI hitting 70 resulted in the stock gapping down hard, and there's plenty of evidence to suggest this scenario will play out once again.



<h2 class="wp-block-heading">Enphase Energy Inc.&nbsp;</h2>



Enphase Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NYSE">ENPH</a>) is the largest company on our list, with a market capitalization of $5.6 billion and annual sales of $1.33 billion. It&#8217;s also the only profitable company listed here, with a net income of $102 million over the last 12 months and profit margins exceeding 10%. However, despite its size, profitability and an international client list, the company remains deeply tied to the U.S. residential solar and battery storage markets &#8211; two areas where the OBBBA seeks to reduce government subsidies.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdELz9gE2EXyYiEZGeymDFN0WnveyUgmDHw23UmZeia603226Ez0V_SprB28QvnEze0-992C-04gGjHaAOcvoOAuRT7-R5F_0iribx8j6cIYKEATaLa7qpT1nOm2glm7eiELYSw6w?key=S9hK9W7ctwEd6DOBWo9D8Q" alt=""/></figure>



Enphase Energy aims to be a one-stop shop for solar energy generation and storage, while also offering software solutions for energy management and communication. While this business model has proven profitable, the elimination of the residential solar credit and battery storage credit could reduce the company's margins and hinder future profit growth.



The stock had been trending downward since the November election, when the 50-day moving average crossed below the 200-day moving average. Now, the 50-day MA appears to be functioning as a strong resistance level, and ENPH shares have failed to punch through this level for the entirety of 2025. The RSI also shows a stock with fading momentum as the indicator has been stuck in a tight range since last December, suggesting limited interest from both investors and institutions. The stock also trades with more than 25% of the float sold short, which isn't high enough to induce a short squeeze, but substantial enough to indicate the sour sentiment in the solar energy sector.



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



Photo: Shutterstock

Opinion

Trading Ideas

SEDG

3 Stocks To Sell Now That Trump's Big Beautiful Bill Is Law

With over $350 billion already funneled into artificial intelligence infrastructure, Goldman Sachs says the next phase of chip investing hinges on performance, cost-efficiency, and software breadth, setting the stage for new market leaders <a href="https://www.benzinga.com/topic/expert-ideas">and fresh laggards.</a>



Goldman Sachs analyst James Schneider sees the AI investment cycle transitioning from blind spending to early monetization, driving both opportunities and shakeouts across the semiconductor space.



In a new note shared Friday, Goldman rated seven top semiconductor stocks and introduced a &#8220;barbell&#8221; investing strategy: buy two types of companies. First, the performance leaders with strong software ecosystems. Second, the low-cost chipmakers helping companies run AI at scale.



"Although monetization has been elusive, we see early signs of incremental revenue and much clearer evidence of cost takeout to justify these investments," Schneider said.



Four stocks earned a Buy rating: Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), Cadence Design Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>) and Synopsys Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNPS#NASDAQ">SNPS</a>). Goldman is Neutral on Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Arm Holdings PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) and Marvell Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>). 



<h3 class="wp-block-heading">Nvidia And Broadcom Are Still The Big AI Bets</h3>



Goldman sees Nvidia as the primary beneficiary of the ongoing AI buildout. Despite talk of &#8220;peak AI&#8221; and rising competition from custom chips, Nvidia's strong product lineup, broad customer base and early signs of AI revenue give it the edge. Goldman set a $185 price target on the stock, or 12% above current market prices.



Broadcom is also a top pick. Goldman expects AI-related revenue to make up more than 40% of its total by 2026. Its strength in custom silicon for cloud giants and a solid software business make it one of the most reliable names in the space. Price target: $315, implying a 15% surge from current levels. 



"We believe the company will leverage its leadership in enterprise networking silicon to drive outsized share in custom silicon for hyperscalers," Schneider said about Broadcom. 



<h3 class="wp-block-heading">The Quiet Power Of Cadence And Synopsys</h3>



Chip design is getting more complex, and that's where software firms like Cadence and Synopsys come in.



Cadence, with a $380 price target, is gaining from the rise in custom chip development. More companies are designing their own AI chips, and Cadence provides the tools they need.



Synopsys, targeted at $620, is a key player in physical chip design. Its customer base is growing fast, and Goldman sees big upside—especially if its acquisition of Ansys goes through as planned.



<h3 class="wp-block-heading">AMD, Arm, Marvell: Neutral For Now</h3>



Goldman is cautious on AMD, Arm and Marvell. While all three are involved in AI, they don't offer the same upside potential right now.



&#8220;Our ratings reflect a more negative risk/reward skew on these companies' shares from current levels, or areas where we see additional downside risk to fundamentals," Schneider said.



AMD is in the AI race but faces tough competition from Nvidia and others. Arm has potential, but its growth depends on how widely its chip architecture spreads outside of smartphones. Marvell has AI exposure, but Goldman doesn't see enough upside right now to recommend buying.



<h3 class="wp-block-heading">AI Is Already Saving Money—and That's Just the Start</h3>



Goldman says the first wave of AI tools is already helping companies cut costs—especially by reducing headcount. The firm estimates these tools could save Fortune 500 companies about $935 billion by 2030. That cash could then fuel more investment in AI that actually drives revenue.



Right now, real monetization is limited. Most AI tools still aren&#8217;t making serious money. But social media platforms are showing more engagement and better ad conversions. E-commerce is improving through smarter recommendation engines. That's the start of what could be a major return cycle.



<h3 class="wp-block-heading">Key AI Trends To Watch</h3>



Goldman laid out five major themes for the chip sector in the next 12 to 24 months:



<ol class="wp-block-list">
<li>AI spending is shifting from hype to real returns</li>



<li>Inventory cycles and demand mismatches will matter more</li>



<li>Geopolitical risks could reshape supply chains</li>



<li>The battle between chip architectures—x86, ARM, RISC-V—is heating up</li>



<li>Companies must decide between standard chips or building custom ones</li>
</ol>



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/07/46367400/why-ionq-is-my-top-stock-pick-for-2025">Why IonQ Is My Top Stock Pick For 2025 </a></li>
</ul>



Photo: Shutterstock

Equities

Large Cap

Tech

AVGO

CDNS

MRVL

NVDA

SNPS

Goldman Sachs: 4 Must-Buy Chip Stocks, And A Few You Should Forget

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) has surged to a new all-time high of $118,909 on Coinbase on Friday morning propelled by steady institutional buying, but analysts warn the rally could face pressure from geopolitical and inflation-driven uncertainties in <a href="https://www.benzinga.com/money/bitcoin-price-prediction">the weeks ahead</a>.



What Happened: The world's largest cryptocurrency jumped 6.3% in the last 24 hours, breaking out of the sideways trading pattern that has persisted for much of the past two months.



Stephen Wundke, Director of Strategy and Revenue at Algoz, pointed to the continued inflows into U.S.-listed spot Bitcoin ETFs, amounting to $15 billion in net buying over the past two months, as a critical driver of upward momentum. 



"Institutions have kept buying BTC ETFs," Wundke told Benzinga. "Traders who lack exposure are now trying to recover positions, forcing prices higher."



He added that dovish inflation signals globally and renewed corporate interest in adding Bitcoin to treasury holdings are fostering favorable conditions for further upside. 



"History shows us when BTC breaks new highs and holds, there's been a circa 20% uplift in the next 60 days," he noted, predicting a short-term target of $125,000—provided inflation data from the U.S. remains benign.



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46351536/you-can-stake-ethereum-solana-on-robinhood-but-is-it-worth-the-25-cut">You Can Stake Ethereum, Solana On Robinhood—But Is It Worth The 25% Cut?</a>



Ajay Dhingra, Head of Research and Partnerships at Unizen, was more cautious. "Bitcoin's new all-time high comes during a rare moment of calm in global politics and trade," he said. 



However, Dhingra warned that upcoming macro data releases—particularly GDP and inflation figures—may reflect the impact of Middle East tensions and impending tariffs, potentially reigniting market volatility. 



"This rally may not hold if that calm gives way to fresh volatility," he added.



The broader crypto market followed Bitcoin's lead. 



Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) rose over 8% to top $3,000, while XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) gained 8% as well to surpass $2.60.



Market sentiment also received a lift from optimism around likely ETF approvals for altcoins like Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) and Ripple, both of which broke key trendlines in recent trading sessions.



What&#8217;s Next: While enthusiasm is growing, experts caution that the sustainability of this rally hinges on upcoming macroeconomic events, particularly the U.S. inflation report due July 15 and the Bitcoin options expiry on July 25, two potential catalysts that could sway short-term market direction.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46345201/bitcoins-rally-to-112000-yes-its-different-this-time">Bitcoin&#8217;s Rally To $112,000: Yes, It&#8217;s Different This Time</a></li>
</ul>



Image: Shutterstock

$ETH

$SOL

$XRP

Bitcoin Sets All-Time High At $118,909, Ethereum, XRP Surge 8% Each

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="678" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/09011117/IonQ-Ion-MGT-Trap-1024x678.jpg" alt="" class="wp-image-15509" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/09011117/IonQ-Ion-MGT-Trap-1024x678.jpg 1024w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/09011117/IonQ-Ion-MGT-Trap-300x199.jpg 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/09011117/IonQ-Ion-MGT-Trap-768x509.jpg 768w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/09011117/IonQ-Ion-MGT-Trap.jpg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



Trapped-ion computing processor. Used with permission: IonQ.



Quantum computing has arrived. IonQ (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IONQ#NYSE">IONQ</a>), a leading commercial quantum computing and networking company, is shipping quantum computers and networks, growing at an almost 100% YoY pace, as well as selling and winning deals at over $44 a share. Ironically, it seems that the market hasn't fully grasped that yet. They're still thinking of massive lab prototypes and expensive sub-Kelvin dilution refrigerators, while IonQ is bringing live systems to paying customers worldwide.



<h2 class="wp-block-heading">Selling full quantum systems, while scaling from the cloud to the planet</h2>



IonQ systems run on AWS Braket, Azure Quantum and Google Quantum AI Cloud. That makes at least three major public clouds. No other quantum vendor matches that reach. Through its strategic organic and inorganic expansion, IonQ operates in Asia, EU, Canada, UK and America. That global network footprint isn't experimental. The company&#8217;s commercial infrastructure leverages hyperscalers, telecom and defense-adjacent applications.



And they didn't stumble into this, they systematically assembled it. They <a href="https://ionq.com/news/ionq-completes-acquisition-of-lightsynq-accelerating-quantum-computing-and">bought Lightsynq in June</a> to further expand their photonic interconnect and quantum memory capabilities. "With this acquisition, we're accelerating our development timeline to fault tolerant quantum computers and long distance networking capabilities," CEO Niccolo de Masi said during an exclusive interview.



The acquired Lightsynq technology allows IonQ to provide optimized compute capabilities over thousands of kilometers. He said Lightsynq latency shifts from about 55 milliseconds to two seconds, which is a 97% improvement, letting entanglement persist long enough for even more complex real-world applications to run. That's not hypothetical puffery, it's architectural muscularity.



They also inked a <a href="https://ionq.com/news/ionq-announces-usd22m-deal-with-epb-establishing-chattanooga-tennessee-as">$22 million deal with EPB </a>to establish a quantum hub in Chattanooga offering Forte Enterprise and networking training for grid optimization. That marks the first U.S. quantum computing and networking center complete with a new IonQ office.



<h2 class="wp-block-heading">This is an acquisition spree with strategy</h2>



In addition to buying Lightsynq, IonQ is now the majority shareholder of <a href="https://ionq.com/news/ionq-to-acquire-id-quantique-enter-into-strategic-partnership-with-sk">ID Quantique</a> to beef up their Swiss-grade quantum networking capabilities. They announced the <a href="https://ionq.com/news/ionq-announces-plans-for-first-space-based-quantum-key-distribution-network">Capella Space</a> acquisition to take quantum key distribution systems into orbit, creating a secure satellite-ground quantum internet. Most recently they agreed to <a href="https://ionq.com/news/ionq-announces-agreement-to-acquire-oxford-ionics-accelerating-path-to-pioneering">buy Oxford Ionics for $1.075 billion</a>, gaining OI&#8217;s complementary ion-trap breakthrough tech and UK R&amp;D depth.



Add it up. They're assembling compute, memory, networking, satellite and cloud access into one commercial platform. That's a full tech stack, vertically integrated. IonQ is one of the biggest, if not the biggest, public-quantum movers by acquisition count with an IP portfolio of almost 1000 owned and controlled patents.



<h2 class="wp-block-heading">AQ is the metric that actually matters</h2>



IonQ talks algorithmic qubits, AQ, rather than inflated raw qubit counts. Their Forte and Forte Enterprise quantum systems hit AQ 36. While the next-gen Tempo quantum systems will target AQ 64 by the end of 2025.



"AQ 64 is an important milestone for our industry. Even a data center packed with classical GPUs couldn't keep up with a single AQ 64 machine when trying to exactly simulate its quantum circuits. Especially for small-scale versions of factoring, decryption, optimization or linear-algebra workloads,&#8221; explained de Masi.



AQ signals usable compute power, not just hardware specs. It integrates error rates, fidelity, connectivity and circuit depth. It's performance that users can build with. And they're already delivering. 



Software simulation leader Ansys saw a <a href="https://www.iotworldtoday.com/quantum/medical-engineering-simulations-accelerated-12-by-quantum-computer">12% speed-up on heart-pump simulations</a>, and IonQ&#8217;s work with AstraZeneca, AWS and Nvidia <a href="https://thequantuminsider.com/2025/06/09/ionq-speeds-quantum-accelerated-drug-development-application-in-partnership-with-astrazeneca-aws-and-nvidia/">cut drug-discovery interference times by 20x</a>. These are real customer benchmarks.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="683" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/09011514/Nicco-de-Masi_022625_001-Edit-1-1024x683.jpg" alt="" class="wp-image-15511" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/09011514/Nicco-de-Masi_022625_001-Edit-1-1024x683.jpg 1024w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/09011514/Nicco-de-Masi_022625_001-Edit-1-300x200.jpg 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/09011514/Nicco-de-Masi_022625_001-Edit-1-768x512.jpg 768w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/09011514/Nicco-de-Masi_022625_001-Edit-1.jpg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



Niccolo de Masi, IonQ CEO and Cambridge-trained physicist. Used with permission: IonQ.



<h2 class="wp-block-heading">Quantum networking is the subplot few are pricing in</h2>



Compute grabs headlines. Networking unlocks scale. IonQ leads here. "We are the only public quantum networking company in the world," de Masi said.



IonQ is building quantum repeaters via Lightsynq. Capella Space extends links to satellites and back to earth. EPB in Tennessee gives grid-scale metropolitan hubs. ID Quantique expands the quantum networking capabilities and backbone. That adds up to a real quantum internet. Encryption, finance, defense and satellite operations are all sectors IonQ is positioning to serve through secure networks.



"We have an exceptional opportunity to accelerate our vision for the quantum internet through our announced acquisitions of Lightsynq and Capella," de Masi said. That's ambition backed by capital and hardware.



<h2 class="wp-block-heading">Miniaturization and energy-efficient design</h2>



Quantum systems usually require bulky cryogenic setups. IonQ has been pushing room-temperature, vacuum-less parts that reduce weight, cost and power use. They're moving toward modular, replaceable components that match data center readiness. It's also about building a compute, networking and applications ecosystem smartly, not just building massive server farms with extreme climate controls and state-mandated, co-located power stations.



"This is the quantum computing industry, not the quantum construction business. Never in the history of computing has anything other than smaller and cheaper won. Additionally, quantum computers run on a fraction of the electricity of classical supercomputers, and <a href="https://theconversation.com/could-energy-efficiency-be-quantum-computers-greatest-strength-yet-191989">in some instances quantum is 100x more energy efficient</a> than traditional compute, " de Masi said.



That's not theoretical. It's operational.



<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="576" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/09011643/Tori-Carey-in-CP-3-1024x576.jpg" alt="" class="wp-image-15513" style="width:920px;height:auto" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/09011643/Tori-Carey-in-CP-3-1024x576.jpg 1024w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/09011643/Tori-Carey-in-CP-3-300x169.jpg 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/09011643/Tori-Carey-in-CP-3-768x432.jpg 768w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/09011643/Tori-Carey-in-CP-3.jpg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



IonQ engineer holding a test wafer of dozens of quantum processors. Used with permission: IonQ.



<h2 class="wp-block-heading">Financial strength and capital to execute</h2>



IonQ recently <a href="https://finance.yahoo.com/news/ionq-announces-pricing-1-0-125500938.html">priced a $1 billion equity raise</a> at $55.49 a share, that&#8217;s more than a 25% premium over the prior market closing price, lifting cash to $1.68 billion. That's one of the largest single-investor deals in quantum history. <a href="https://finance.yahoo.com/news/ionq-price-target-raised-55-122507534.html">Benchmark</a> and <a href="https://investorsobserver.com/news/stock-update/priced-for-the-future-ionq-can-grow-into-quantum-premium-analyst-says/#:~:text=That's%20one%20of%20the%20main,capitalization%20of%20approximately%20$11.5%20billion.">Cantor</a> called it confirmation of IonQ's differentiated commercial model across hardware, services and applications.



While still pursuing profitability, its Q1 revenue came in above guidance. Cash sat at nearly $750 million. Hyundai, Airbus, Air Force Research Lab, EPB, University of Maryland and AWS are all paying or paid to use IonQ's tech. Based on IonQ's earnings disclosures and expansion activity, the capital appears targeted toward scaling compute, networking and commercial systems.



<h2 class="wp-block-heading">The entire company is its competitive moat</h2>



IonQ is unique within the pure-play quantum computing space. Acquisitions, cloud reach, engineering, hardware, networking, satellite and workforce hubs. Patent depth. Customer results. Cash. Its technical roadmap.



"Every day we get up in the morning knowing that we can impact every area of applied science," de Masi told me. "Whether it's drug discovery or defense and intelligence or logistics or material science, we impact everything."



IonQ's execution speaks louder than its pure-play quantum computing competitors. That's what sets them apart.



<h2 class="wp-block-heading">Do your own research, you&#8217;ll see what the &#8220;smart money&#8221; sees</h2>



These are obviously personal opinions; not financial advice. Anyone considering investing in any asset needs to do their own research and understand the risks associated with emerging tech such as quantum computing. While I no longer own any shares of IonQ, when I sold my entire stake in mid-December 2024 I turned a 340% profit. That was the best performing equity asset in my portfolio. And based on all the publicly available information about this company; it&#8217;s still a banger with room to run.



The latest sale to <a href="https://finance.yahoo.com/news/ionq-announces-pricing-1-0-125500938.html">Heights Capital Management of more than 14 million IonQ shares</a> at a 25% markup with the seven-year option of buying another 36 million shares at $99.88 each is a resounding vote of confidence from Wall Street sharps regarding IonQ&#8217;s potential upside.



Quantum isn't five years away. It's crossing into reality with commercial contracts, live networks and satellite integration underway. IonQ is the stock that reflects that. Not early-stage theory. Not hype. Just results.

Long Ideas

IONQ

Why IonQ Is My Top Stock Pick For 2025

U.S. Secretary of State Marco Rubio has expressed optimism about the possibility of a summit between President Donald Trump and Chinese President Xi Jinping this year, following &#8220;constructive&#8221; discussions with Chinese Foreign Minister Wang Yi.



What Happened: Rubio, during a meeting with Wang at&nbsp;an Association of Southeast Asian&nbsp;Nations (ASEAN) gathering in Kuala Lumpur, described the talks as &#8220;very constructive and positive,&#8221;&nbsp;<a href="https://www.scmp.com/news/china/diplomacy/article/3317897/odds-high-xi-trump-meeting-rubio-says-after-constructive-talks-wang-yi-asean">reported</a>&nbsp;the South China Morning Post on Friday.



He acknowledged the differences between the U.S. and China but expressed optimism that the two countries can reach strategic stability and find common ground for cooperation.



When asked about the likelihood of a Trump-Xi meeting this year, Rubio said, &#8220;the odds are high,&#8221; but emphasized the need to &#8220;build&nbsp;the right atmosphere and the&nbsp;right deliverables.&#8221; He also stressed the importance of establishing a constructive baseline for continued dialogue on various issues.



This marked the first in-person meeting between the two diplomats since Rubio assumed office in January. Although he didn't disclose specific topics, Rubio emphasized that the meeting wasn't intended to negotiate contentious issues like Taiwan, but to foster improved communication and trust.



See Also:&nbsp;<a href="https://benzinga.com/news/politics/25/07/46360686/trump-to-make-a-major-statement-on-russia-on-monday-amid-escalating-ukraine-conflict-im-disappointe" target="_blank" rel="noreferrer noopener">Trump To Make A &#8216;Major Statement&#8217; On Russia On Monday Amid Escalating Ukraine Conflict: &#8216;I&#8217;m Disappointed&#8230;&#8217;</a>



Why It Matters: Rubio&#8217;s optimistic outlook on a potential Trump-Xi summit comes amid escalating trade tensions between the two global powers. The U.S. and China have been at odds over trade policies, with China warning against the re-imposition of substantial U.S. tariffs on its goods and<a href="https://www.benzinga.com/news/politics/25/07/46362002/marco-rubio-holds-talks-with-chinas-wang-yi-at-east-asia-summit-amid-escalating-us-china-trade-tensions"> threatening retaliation </a>against countries that cut it out of their supply chains.



Despite the trade and tariff-related turbulence, China&#8217;s total exports<a href="https://www.benzinga.com/markets/asia/25/07/46290263/is-china-dodging-us-tariffs-direct-exports-to-america-plunge-43-as-vietnam-and-indonesia-see-big-spurts-report"> have increased</a> 4.8% according to official figures, with a significant rise in exports to the Association of Southeast Asian Nations and through countries like Vietnam and Indonesia. This indicates potential efforts by China to circumvent the current U.S. trade and tariff regime.



Meanwhile, China&#8217;s Yi has reportedly expressed concerns to the European Union about a <a href="https://www.benzinga.com/news/politics/25/07/46268640/china-expresses-concern-to-eu-over-russias-potential-defeat-in-ukraine-conflict-amid-fears-that-trump-would-do-this-report">potential Russian defeat</a> in the ongoing Ukraine conflict, amid fears that the U.S. and Trump would shift their focus entirely to China if Russia were to lose. This is a deviation from China&#8217;s usual assertion that it is &#8220;not a party&#8221; to the war.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/07/46362328/nvidia-ceo-jensen-huang-to-meet-trump-at-white-house-ahead-of-crucial-china-visit-report">Nvidia CEO Jensen Huang To Meet Trump At White House Ahead Of Crucial China Visit: Report</a></li>
</ul>



Image via Shutterstock



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

Xi Jinping Could Meet Trump This Year, Marco Rubio Says After 'Very Constructive' Talks With Wang Yi: 'The Odds Are High'

JP Morgan&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) CEO&nbsp;Jamie Dimon&nbsp;has raised a red flag about the potential underestimation of the risk of higher U.S. interest rates by the financial markets.



What Happened: Dimon expressed his concerns at an event hosted by Ireland&#8217;s foreign ministry in Dublin on Thursday. He stated that the financial markets may not be fully considering the possibility of a rise in U.S. interest rates, which he described as a &#8220;cause for concern,&#8221;&nbsp;reported&nbsp;Reuters.



Dimon&#8217;s apprehension is based on several factors, including the impact of tariffs, the U.S. government&#8217;s immigration policies and the country&#8217;s budget deficit. He also highlighted the potential inflationary effects of the global trade restructuring and demographic changes.



Despite the&nbsp;recent decision of the Federal Reserve to maintain&nbsp;the current interest rates, Dimon believes that the likelihood of a further increase is higher than what the market is currently pricing in. He noted that the market is pricing in a 20% chance of a rate hike, while he would put it at 40-50%.



Dimon also pointed out the challenges in reading&nbsp;&#8216;real-time data&#8217; on the U.S.&nbsp;economy, stating that it is &#8220;totally impossible to read.&#8221; He further criticized the market for being complacent in the face of President Donald Trump&#8216;s tariff policies and global trade uncertainty.



See Also: <a href="https://benzinga.com/crypto/cryptocurrency/25/07/46352378/bitcoin-breaks-above-113000-but-there-is-a-catch" target="_blank" rel="noreferrer noopener">Bitcoin Breaks Above $113,000&#8230;But There Is A Catch</a>



Why It Matters: The Federal Reserve&#8217;s <a href="https://www.benzinga.com/news/politics/25/07/46336115/as-trump-calls-for-3-percentage-point-rate-cut-too-late-jerome-powell-to-resign-june-fed-minutes-show-uncertainty-reigns-supreme">June meeting </a>was marked by &#8220;uncertainty&#8221; amid tariff turmoil and Trump&#8217;s call for a 3 percentage point rate cut. Furthermore, Federal Reserve Chair Jerome Powell indicated that Trump&#8217;s <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46213909/jerome-powell-says-trumps-tariffs-deterred-fed-from-easing-monetary-policy-july-decision-to-depend-on-data-wouldnt-take-any-meeting-off-the-table">tariff strategy </a>deterred the central bank from easing monetary policy.



At the same time, money market funds hit a <a href="https://www.benzinga.com/markets/equities/25/07/46337134/bill-ackman-cheers-money-market-funds-hitting-record-7-4-trillion-as-jerome-powell-snubs-trumps-rate-cut-demands">record $7.4 trillion</a>, hinting that any rate cuts could direct these funds into the equity markets, as noted by billionaire Bill Ackman. This context underscores Dimon&#8217;s concerns about the underestimated risk of higher interest rates and potential economic instability.



Meanwhile, polymarket bettors now see a <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46314139/polymarket-bettors-see-50-chance-of-fed-september-rate-cuts-as-trump-turns-up-heat-on-powell">50% chance</a> that the Federal Reserve will make its first interest rate cut of 2025 at the September meeting, while there was a 44% chance that rates would stay at the current 4.25%–4.50% range.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://benzinga.com/news/politics/25/07/46360429/mike-pence-says-trumps-tariff-escalations-with-us-allies-are-like-dismissing-your-front-line-in-a-f" target="_blank" rel="noreferrer noopener">Mike Pence Says Trump&#8217;s Tariff Escalations With US Allies Are Like &#8216;Dismissing Your Front Line In A Football Game</a></li>
</ul>



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



Image via Shutterstock

Jamie Dimon Warns Market May Be Underestimating Rate Hike Risks, Flags Investor Complacency Amid Trump Tariffs: 'Cause Of Concern'

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



After President Donald Trump imposed <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46334793/trump-sends-lula-a-letter-imposing-50-tariffs-calls-bolsonaro-trial-a-witch-hunt-brazils-president-hits-back-will-not-accept-any-form-of-tutelage">50% tariffs on Brazil</a>, the country&#8217;s President, Luiz Inácio Lula da Silva, issued a warning Thursday about <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46359200/brazil-hits-back-at-trumps-tariff-letter-lula-says-if-hes-going-to-charge-us-50-wee-going-to-charge-him-50">potential retaliatory tariffs </a>if the U.S. proceeds with its planned 50% tax on Brazilian imports from Aug. 1.



The 10-year Treasury bond yielded 4.38% and the two-year bond was at 3.88%. 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 93.3% likelihood of the Federal Reserve keeping the current interest rates unchanged in its July meeting. 



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Dow Jones</td><td>-0.62%</td></tr><tr><td>S&amp;P 500</td><td>-0.57%</td></tr><tr><td>Nasdaq 100</td><td>-0.50%</td></tr><tr><td>Russell 2000</td><td>-0.99%</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 lower in premarket on Friday. The SPY was down 0.54% at $622.44, while the QQQ declined 0.47% to $552.86, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From Last Session:



On Thursday, most sectors within the S&amp;P 500 finished higher, with consumer discretionary, utilities, and energy stocks leading the gains.



Conversely, communication services and information technology sectors bucked the trend, ending the session lower. U.S. stocks settled higher overall, with the S&amp;P 500 hitting an all-time high during the day.



A significant boost came from Delta Air Lines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>), which surged approximately 12% after reporting second-quarter results that exceeded both earnings and revenue forecasts, signaling a robust demand outlook and igniting a widespread rally across the airline sector.



On the economic front, the U.S. labor market continued to demonstrate resilience, as initial jobless claims decreased to 237,000 last week, surpassing expectations. However, continuing claims increased to 1.965 million, reaching their highest level since 2021.



<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>0.094%</td><td>20,630.66</td></tr><tr><td>S&amp;P 500</td><td>0.27%</td><td>6,280.46</td></tr><tr><td>Dow Jones</td><td>0.43%</td><td>44,650.64</td></tr><tr><td>Russell 2000</td><td>0.48%</td><td>2,263.41</td></tr></tbody></table></figure>



Insights From Analysts:



As the trade-related tussle evolves with the U.S. trading partners, Louis Navellier of Navellier &amp; Associates said that &#8220;There is no doubt that the tariffs the Trump Administration is imposing are controversial, but the countries that cooperate with the U.S., like Australia and Britain, are only being hit with 10% baseline tariffs, which should be largely offset by appreciation in the U.S. dollar in the upcoming months.&#8221;



Highlighting that the tariff revenue to the U.S. Treasury soared to $24.2 billion in May and is now expected to soar to $60 billion or higher per month in the upcoming months, he added, &#8220;I remain in the camp that when all the dust settles, there will be freer trade with fewer tariffs, since many countries cannot fight with the U.S.&#8221;



&#8220;Markets appear to have become desensitized to tariff news,&#8221; said Michelle Gibley, director of international research at the Schwab Center for Financial Research. &#8220;There may be some thought that the rates announced won&#8217;t be the final tariffs—some of the figures seem random and part of a negotiation.&#8221;



Meanwhile, Ed Yardeni of Yardeni Research highlighted that the Warren Buffett Indicator <a href="https://www.benzinga.com/markets/equities/25/07/46360976/warren-buffett-indicator-soars-to-208-surpassing-dot-com-2008-levels">hit an alarming valuation</a>, indicating a potentially overvalued market, but the U.S. economy has demonstrated remarkable resilience.



He pointed out a fascinating paradox: "The economy won't let us down. Despite numerous crises, real GDP has remained recession-resistant since the Covid lockdown during the first half of 2020."



He emphasizes nearly six years without a recession, despite significant global challenges such as the pandemic, the conflict in Ukraine, stricter monetary policies, the Middle East war, and the economic disruption caused by Donald Trump&#8217;s tariffs.



Indeed, Yardeni argues, "it really has been the Roaring 2020s so far. Real GDP is at a record high and so is the stock market."



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>Monthly U.S. federal budget data will be released at 2:00 p.m. ET.</li>
</ul>



Stocks In Focus:



<ul class="wp-block-list">
<li>Strategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) was up 3.35%, Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) rose 2.38%, Riot Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>) advanced 2.94%, MARA Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) was 4.20% higher, along with all the other Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) exposed stocks as the cryptocurrency hit a fresh high of $118,403.89 on Thursday.</li>



<li>Several drone-related stocks were also higher after Defense Secretary Pete Hegseth issued new orders to <a href="https://www.benzinga.com/trading-ideas/movers/25/07/46356963/drone-stocks-fly-as-defense-secretary-fast-tracks-drone-production-deployment">fast-track drone manufacturing</a> and deployment. This includes Red Cat Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCAT#NASDAQ">RCAT</a>), which soared 16.08%, AeroVironment Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVAV#NASDAQ">AVAV</a>), which advanced 4.11%, Ageagle Aerial Systems Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UAVS#NYSE">UAVS</a>), which was up 9.68%, and Ondas Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONDS#NASDAQ">ONDS</a>) higher by 5.47%.</li>



<li>Levi Strauss &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEVI#NYSE">LEVI</a>) jumped 7.25% after reporting stronger-than-expected second-quarter financial results and raising its full-year guidance.</li>



<li>PriceSmart Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSMT#NASDAQ">PSMT</a>) climbed 7.10% higher after reporting better-than-expected third-quarter financial results.</li>



<li>Frequency Electronics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FEIM#NASDAQ">FEIM</a>) tumbled 2.12% after reporting earnings of 34 cents per share for the fourth quarter, up from 28 cents per share in the year-ago period. The company&#8217;s sales rose to $19.986 million from $15.576 million.</li>



<li>E2open Parent Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETWO#NYSE">ETWO</a>) was up 0.31% after posting better-than-expected earnings for its first quarter and affirming its fiscal year 2026 sales guidance.</li>



<li>WD-40 Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDFC#NASDAQ">WDFC</a>) was 0.093% higher after posting better-than-expected earnings for its third quarter, while sales missed estimates. The company raised its EPS guidance, but narrowed its sales forecast.</li>
</ul>



Commodities, Gold, And Global Equity Markets:



Crude oil futures were trading higher in the early New York session by 0.03% to hover around $66.59 per barrel.



Gold Spot US Dollar rose 0.29% to hover around $3,333.71 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was higher by 0.14% at the 97.7890 level.



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



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/07/46360976/warren-buffett-indicator-soars-to-208-surpassing-dot-com-2008-levels">Warren Buffett Indicator Soars To 208%, Surpassing Dot-Com, 2008 Levels</a></li>
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Photo courtesy: godongphoto / Shutterstock.com

AVAV

COIN

ETWO

FEIM

LEVI

MARA

MSTR

ONDS

PSMT

RCAT

RIOT

UAVS

WDFC

US Stocks Expected To Open Lower, But Bitcoin-Exposed Stocks Soar In Premarket After BTC Breaches $118K Mark

Defense Secretary Pete Hegseth reportedly authorized a pause on weapons shipments to Ukraine without informing the White House. The decision triggered internal confusion and required explanations to Congress and Ukrainian officials.



What Happened: President Donald Trump distanced himself from the move during a on Tuesday Cabinet meeting. When asked if he approved the pause, Trump said the U.S. would continue sending defensive weapons to Ukraine. Pressed on who authorized the halt, Trump replied, &#8220;I don&#8217;t know, why don&#8217;t you tell me?&#8221;



The episode highlights policy-making challenges within the Trump administration, particularly at the Defense Department under Hegseth, CNN <a href="https://edition.cnn.com/2025/07/08/politics/hegseth-did-not-inform-white-house-ukraine-weapons-pause">reported</a>, citing sources. This marked the second time this year Hegseth halted Ukraine weapons flows without advance notice to senior national security officials.



The first pause occurred in February and was quickly reversed, according to CNN. Similarly, Trump announced Monday night that weapons shipments would resume despite Hegseth&#8217;s earlier authorization of the halt.



The weapons package had been allocated by the previous administration and was en route when stopped. In a Friday call with Ukrainian President Volodymyr Zelensky, Trump downplayed his role in the decision, according to the report.



Trump appears less inclined to give Russia a &#8220;win&#8221; by halting military aid as he has soured on Russian President Vladimir Putin. 



See Also: <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46359200/brazil-hits-back-at-trumps-tariff-letter-lula-says-if-hes-going-to-charge-us-50-wee-going-to-charge-him-50">Brazil Hits Back At Trump&#8217;s Tariff Letter, Lula Says If &#8216;He&#8217;s Going To Charge Us 50, We&#8217;e Going To Charge Him 50&#8217;</a>



&#8220;We get a lot of bulls&#x2A;&#x2A;t thrown at us by Putin,&#8221; Trump said Tuesday. &#8220;You want to know the truth? It&#8217;s very nice all the time, but it turns out to be meaningless.&#8221;



Why It Matters: The Pentagon suspended shipments after Trump requested an assessment of U.S. weapons stockpiles during their NATO summit trip. With Iran and Israel exchanging attacks, Trump wanted to ensure adequate munitions for regional U.S. troops.



Meanwhile, Hegseth has separately moved to <a href="https://www.benzinga.com/trading-ideas/movers/25/07/46356963/drone-stocks-fly-as-defense-secretary-fast-tracks-drone-production-deployment">accelerate drone technology deployment</a>, signing memos to rescind restrictive policies on drone production. The move boosted drone stocks, including Red Cat Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCAT#NASDAQ">RCAT</a>), AeroVironment Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVAV#NASDAQ">AVAV</a>), and Kratos Defense &amp; Security Solutions Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KTOS#NASDAQ">KTOS</a>) in after-hours trading.



The controversy comes as Hegseth has taken a hawkish stance on China, warning at Singapore&#8217;s Shangri-La Dialogue that Beijing&#8217;s potential military move against Taiwan represents an &#8220;imminent&#8221; threat. He urged Indo-Pacific nations to increase defense spending and <a href="https://www.benzinga.com/news/politics/25/05/45710652/hegseth-urges-asia-to-arm-up-as-china-eyes-taiwan">reduce dependence on U.S. protection</a>.



Read Next: 



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<li><a href="https://www.benzinga.com/news/politics/25/07/46360686/trump-to-make-a-major-statement-on-russia-on-monday-amid-escalating-ukraine-conflict-im-disappointed">Trump To Make A &#8216;Major Statement&#8217; On Russia On Monday Amid Escalating Ukraine Conflict: &#8216;I&#8217;m Disappointed&#8230;&#8217;</a></li>
</ul>



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



Photo Courtesy: Shutterstock/Joshua Sukoff

Politics

KTOS

Trump Says 'I Don't Know' Who Paused Ukraine Weapon Shipments—Hegseth Did Not Inform The White House: Report

Leading cryptocurrencies scripted another strong rally Thursday, despite President Donald Trump&#8217;s tariff moves casting a pall over the market.



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 9:10 p.m. ET)</th></tr></thead><tbody><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>+4.09%</td><td>$115,629.51</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+6.22%</td><td>$2,931.12</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+7.76%</td><td>$0.1922</td></tr></tbody></table></figure>



What Happened: Bitcoin blasted to a new record high above $116,000 in the evening, as trading volume for the apex cryptocurrency spiked 62% to a whopping $96 billion in the last 24 hours.



Ethereum was closing in on $3,000, hitting levels last seen in early February.



The second-largest cryptocurrency's market share jumped to 9.8%, while Bitcoin's dominance slipped below 64%.



Over $1 billion was liquidated from the market in the last 24 hours, with $969 million in downside bets erased.



Bitcoin's open interest increased by 2.86% in the last 24 hours to an all-time high of $81.35 billion. Notably, the long/short ratio was below 1, indicating a higher number of short bets compared to long bets.



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



Top Gainers (24 Hours)



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 9:10 p.m. ET)</th></tr></thead><tbody><tr><td>Pudgy Penguins (PENGU)</td><td>+22.70%</td><td>$0.01919</td></tr><tr><td>Sei (SEI)&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+19.84%</td><td>$0.3134</td></tr><tr><td>Worldcoin (WLD)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+19.60%</td><td>$1.08 </td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.60 trillion, following a 4.03% jump in the last 24 hours.



Stocks also notched record highs on Thursday. The S&amp;P 500 rallied 0.27% to end at 6,280.46. The tech-focused Nasdaq Composite rose 0.09% to close at 20,630.67. &nbsp;The Dow Jones Industrial Average gained 192.34 points, or 0.43%, to end at 44,458.30.



Meanwhile, stock futures bled overnight after Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/114831716625825473">announced </a>35% tariffs on all goods imported from Canada starting Aug. 1



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



Analyst Notes: Blockchain analytics firm Santiment said that despite Bitcoin's record highs, traders are not keen to shift coins back onto exchanges for profit-taking.



On the contrary, the last four months have seen a net drop of 21% in BTC on exchanges.



"The trend of coins staying off exchanges is a sign that the threat of sudden market plummets is more limited, and long-term investors are increasingly content to keep their coins safe in personal storage for the long run," Santiment added.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f4c8; Bitcoin has made yet another historic all-time high, surging to a market value of $113,923 30 minutes ago. Despite <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>&#39;s +13.6% price rise since its June 22nd local bottom, traders are not showing eagerness to move coins back on to exchanges (to potentially sell). &#x1f92f; In… <a href="https://t.co/FsOLjUF7Kj">pic.twitter.com/FsOLjUF7Kj</a>&mdash; Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1943379116541063204?ref_src=twsrc%5Etfw">July 10, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Widely followed cryptocurrency analyst and trader Ali Martinez stated this might be the "last chance" to catch Ethereum's breakout.



"Right now, ETH is sitting in the middle of a parallel channel. If momentum builds, it has a good chance of rising to $4,000," Martinez projected.



<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">This is your last chance to catch the Ethereum <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> breakout! <a href="https://t.co/EvpzDHQBFM">pic.twitter.com/EvpzDHQBFM</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1943446636983640561?ref_src=twsrc%5Etfw">July 10, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo Courtesy: PeopleImages.com &#8211; Yuri A on Shutterstock.com



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



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<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46353081/bitcoin-can-easily-crash-buy-silver-instead-peter-schiff-says-silver-should-rise-much-more-downside-seems-limited">&#8216;Bitcoin Can Easily Crash,&#8217; Buy Silver Instead, Peter Schiff Says &#8211; &#8216;Silver Should Rise Much More, Downside Seems Limited&#8217;</a></li>
</ul>

$DOGE

Bitcoin Breaks $116,000, Ethereum, Dogecoin Soar As Crypto Investors Shrug Off Tariff Concerns: Analyst Says This Is Your 'Last Chance' To Catch ETH's Breakout

Brazil&#8217;s President, Luiz Inácio Lula da Silva, issued a warning Thursday about potential retaliatory tariffs if the U.S. proceeds with its planned 50% tax on Brazilian imports from Aug. 1.



What Happened: Lula stated via his official X handle that Brazil would take the necessary measures to &#8220;protect its people and its companies.&#8221;



&#8220;The Brazilian people must be respected. Brazilian justice must be respected.&#8221; Lula said, &#8220;We are a great, sovereign country with a historic tradition of diplomacy with all nations.&#8221;



&#8220;And don&#8217;t have any doubt that first we will try to negotiate, but if there is no negotiation, the law of reciprocity will be put into practice,&#8221; the Brazilian president stated in an interview with local media. &#8220;If he&#8217;s [Trump] going to charge us 50, we&#8217;re going to charge him 50.&#8221;



<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">O povo brasileiro precisa ser respeitado. A justiça brasileira precisa ser respeitada. Somos um país grande, soberano, e de tradições diplomáticas históricas com todos os países. O Brasil vai adotar as medidas necessárias para proteger seu povo e suas empresas.<a href="https://twitter.com/hashtag/EntrevistaRecord?src=hash&amp;ref_src=twsrc%5Etfw">#EntrevistaRecord</a> <a href="https://t.co/pdMuVP1rPM">pic.twitter.com/pdMuVP1rPM</a>&mdash; Lula (@LulaOficial) <a href="https://twitter.com/LulaOficial/status/1943377623247114667?ref_src=twsrc%5Etfw">July 10, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



See Also:&nbsp;<a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46338641/ray-dalio-says-trumps-tariffs-are-theoretical-warns-they-may-not-bring-manufacturing-back-to-us">Ray Dalio Says Trump&#8217;s Tariffs Are &#8216;Theoretical,&#8217; Warns They May Not Bring Manufacturing Back To US</a>



Meanwhile, Brazil&#8217;s Finance Minister,&nbsp;Fernando Haddad, is trying to defuse the growing tensions. He expressed confidence that any dispute &#8220;can&nbsp;and must be overcome through&nbsp;diplomacy,&#8221; Reuters reported.



Why It Matters: This development follows a flare-up in tensions between the U.S. and Brazil after President Donald Trump sent a letter to Lula, <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46334793/trump-sends-lula-a-letter-imposing-50-tariffs-calls-bolsonaro-trial-a-witch-hunt-brazils-president-hits-back-will-not-accept-any-form-of-tutelage">threatening to impose</a> 50% tariffs on Brazilian imports. 



Trump accused Brazil of &#8220;insidious attacks on free elections&#8221; and dubbed the trial of former President&nbsp;Jair Bolsonaro a &#8220;witch hunt.&#8221;



The proposed tariffs have begun to impact the Brazilian economy, with shares of Brazilian aircraft manufacturer Embraer S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ERJ#NYSE">ERJ</a>) <a href="https://www.benzinga.com/news/travel/25/07/46357953/trumps-50-tariffs-send-this-jet-maker-into-a-tailspin">plunging in Thursday&#8217;s regular trading</a>. As the world&#8217;s third-largest aircraft maker, Embraer heavily relies on the U.S. market, making it particularly vulnerable to these proposed trade measures.



Price Action: Shares of iShares MSCI Brazil ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWZ#NYSE">EWZ</a>) closed 1.56% lower at $27.72 on Thursday, while Embraer slid 4.65%.



The Embraer stock demonstrated a very high momentum score as of this writing. Use <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Benzinga Edge Stock Rankings</a>. to see how it compares to Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>).



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="445" height="190" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10220508/image-130.png" alt="" class="wp-image-980972" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10220508/image-130.png 445w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10220508/image-130-300x128.png 300w" sizes="(max-width: 445px) 100vw, 445px" /></a></figure>



Photo Courtesy: Marcus Mendes on Shutterstock.com



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<li><a href="https://www.benzinga.com/news/25/07/46350703/airline-stocks-surge-trump-tariffs-hit-brazil">Airline Stocks Take Off, Trump Hits Brazilian ETF: What&#8217;s Moving Markets Thursday?</a></li>
</ul>

Brazil Hits Back At Trump's Tariff Letter, Lula Says If 'He's Going To Charge Us 50, We'e Going To Charge Him 50'

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has announced November 6 as the date for the company's annual shareholder meeting amid mounting pressure from investors who are concerned about Elon Musk's political ambitions and mounting tensions with President Donald Trump.



Check out the current price of <a href="https://benzinga.com/quote/tsla">TSLA stock here</a>.



What Happened: "The board of directors of Tesla has designated November 6, 2025 as the date of Tesla's 2025 annual meeting of shareholders," a filing by the EV giant with the U.S. Securities and Exchange Commission or SEC showed on Thursday.



The company will also present its proxy statement during the meeting, the filing shows.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="438" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10233351/sec-filing-TSLA--1024x438.jpg" alt="" class="wp-image-981049" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10233351/sec-filing-TSLA--1024x438.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10233351/sec-filing-TSLA--300x128.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10233351/sec-filing-TSLA--768x328.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10233351/sec-filing-TSLA--1536x657.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10233351/sec-filing-TSLA--2048x875.jpg 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



Source: SEC



Amid the news hitting the wires, Wedbush Securities analyst Dan Ives weighed in on the matter in a post on social media platform X on Thursday. "Now the Musk new pay package will be the focus," Ives said in the post.



The pay package in question reportedly stands at over $56 billion, which was awarded to Musk following Tesla&#8217;s growth, a Reuters report from March suggests. The Tesla board approved Musk&#8217;s pay package, which could be among the highest CEO payouts ever, on two separate occasions.



Musk&#8217;s pay package was awarded to the CEO in 2018. However, a member of the Tesla board had filed a lawsuit objecting to the compensation for Musk. A court ruling in Delaware, Texas, rejected the pay package last year. Musk has since appealed to restore it. 



<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">Now the Musk new pay package will be the focus &#x1f3af;&#x1f447; <a href="https://t.co/he1Vt9xOGP">https://t.co/he1Vt9xOGP</a>&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1943271235946758262?ref_src=twsrc%5Etfw">July 10, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Why It Matters: The date for the investors' meeting comes in after the Tesla BoD faced pressure from shareholders, with a group of 27 investors recently writing a <a href="https://www.benzinga.com/markets/tech/25/07/46335587/tesla-investors-call-for-shareholder-meeting-amid-elon-musk-trump-feud-declining-sales-report">letter to the board</a>, urging it to set up a date for the annual shareholder meeting.



Tesla has also been under fire from analysts, with Gerber Kawasaki's co-founder Ross Gerber slamming Musk, claiming that the CEO has "<a href="https://www.benzinga.com/markets/tech/25/07/46337215/tesla-is-basically-hijacked-by-elon-musk-says-ross-gerber-calling-it-completely-ridiculous-america-party-is-the-worst-news-for-tsla">hijacked the company</a>" and that his America Party will be "an abject failure."



Ives, who has maintained Bullish views on the company, also called on the Tesla board to set up a <a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/07/46305934/musk-tells-tesla-analyst-dan-ives-to-shut-up-but-hes-not-backing-down-this-is-the-time-for-a-plan">25% voting control for Musk</a> and maintain oversight of his involvement in politics.



<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="200" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10233459/TSLA-JUL-11-2025-1024x200.jpg" alt="" class="wp-image-981051" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10233459/TSLA-JUL-11-2025-1024x200.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10233459/TSLA-JUL-11-2025-300x59.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10233459/TSLA-JUL-11-2025-768x150.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10233459/TSLA-JUL-11-2025-1536x300.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10233459/TSLA-JUL-11-2025.jpg 1568w" 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&#8217;s Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>



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<li><a href="https://www.benzinga.com/markets/tech/25/07/46335539/elon-musk-asked-dan-ives-to-shut-up-and-the-tesla-bull-says-thats-cool-heres-why">Elon Musk Asked Dan Ives To &#8216;Shut Up&#8217; And The Tesla Bull Says &#8216;That&#8217;s Cool&#8217;: Here&#8217;s Why</a></li>
</ul>



Photo courtesy: Shutterstock

TSLA

Tesla's Annual Shareholder Meeting Set For November 6th, Dan Ives Says Elon Musk's $56 Billion Pay Package 'Will Be The Focus'

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



U.S. stocks settled higher on Thursday, with the S&amp;P 500 closing at an all-time high level during the session. A day earlier, President Donald Trump announced sweeping 50% tariffs on imports from Brazil and confirmed the 50% tariff on copper, effective Aug. 1.



Delta Air Lines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) surged around 12% on Thursday after posting second-quarter results that topped both earnings and revenue expectations, while indicating a strong demand outlook, sparking a broad rally across the airline sector.



On the economic data front, the U.S. labor market continued to show resilience as initial jobless claims dropped to 237,000 last week, beating forecasts. However, continuing claims rose to 1.965 million, the highest level since 2021.



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



The Dow Jones closed higher by 192 points to 44,650.64 on Thursday. The S&amp;P 500 rose 0.27% to 6,280.46, while the Nasdaq Composite gained 0.09% to 20,630.66 during Thursday's session.



What is CNN Business Fear &amp; Greed Index?



At a current reading of 76.5, the index remained in the &#8220;Extreme Greed&#8221; zone on Thursday, versus a prior reading of 75.2.



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



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/dividends/25/07/46341009/how-to-earn-500-a-month-from-jpmorgan-stock-ahead-of-q2-earnings">How To Earn $500 A Month From JPMorgan Stock Ahead Of Q2 Earnings</a></li>
</ul>



Photo courtesy: Shutterstock

Pre-Market Outlook

S&P 500 Settles At Record High As Delta Air Lines Stock Surges: Fear & Greed Index Remains In 'Extreme Greed' Zone

Greece's 2010 collapse was so severe it leased islands, gutted public jobs and pensions, while some abroad even joked about selling the <a href="https://www.benzinga.com/markets/eurozone">Acropolis to appease creditors.</a>



Fast forward 15 years, and the picture couldn't be more different.



The Athens Stock Exchange has soared nearly 34% year-to-date, making Greece the world's best-performing equity market thus far in 2025. 



Meanwhile, the Global X MSCI Greece ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GREK#NYSE">GREK</a>), the main U.S.-listed vehicle for investing in Greek stocks, has jumped a staggering 57% year-to-date, beating the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) and Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) by about a 50-percentage-point margin.



Once the poster child of Europe's debt crisis, Greece is now delivering the world's hottest stock market rally.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="525" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10145706/image-123-1024x525.png" alt="" class="wp-image-980651" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10145706/image-123-1024x525.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10145706/image-123-300x154.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10145706/image-123-768x394.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10145706/image-123-1536x788.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10145706/image-123-2048x1051.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h2 class="wp-block-heading">Why Is Greek Stock Market Rallying In 2025?</h2>



Fiscal discipline, tax overhauls, and improved public administration have laid the groundwork for this resurgence. Major structural reforms, supported by funding from the European Union's Next Generation EU plan, are also paying off.



The Greek economy is expected to grow 3.2% this year, according to the European Commission — more than double the eurozone average.



The real engine of the Greek stock market&#8217;s rally in 2025 has been the financial sector.



Greek banks, once considered radioactive by global investors, are now leading the charge. Alpha Bank S.A. is up 73% year-to-date, Piraeus Financial Holdings is up 72% and Optima Bank has soared 80%.



<h2 class="wp-block-heading">Is There Still Room To Run?</h2>



Despite the blistering rally in 2025, Greek stocks remain far from overheated. In fact, the Athens Stock Exchange is still trading 62% below its 2007 all-time high, leaving plenty of headroom for further gains.



That valuation gap hasn't gone unnoticed by major Wall Street firms, which continue to back the Greek rebound. Goldman Sachs and Bank of America both argue that, despite a surge of 50% or more in bank stocks, the sector remains fundamentally undervalued.



According to Goldman Sachs analyst Mikhail Butkov, Greek banks are expected to deliver return on tangible equity (RoTE) of around 14% from 2025 to 2029. He also expects dividend payout ratios to rise to at least 50%, bad loan ratios (non-performing exposures, or NPEs) to fall to 3% next year and 2% by 2029, and capital levels (CET1 ratios) to remain healthy at 16%-17%.



Even with the European Central Bank signaling lower interest rates, Goldman believes Greek banks can still beat expectations. 



"We believe this will be offset by stronger-than-expected lending growth, higher contribution from securities income and better spreads," Butkov said.



Bank of America thinks the rally isn't over yet.



Bank of America equity analyst Ilija Novosselsky wrote last week that Greek banks "still look cheap despite the rally&#8221; and listed several reasons why the upside may continue: net interest income (NII) is turning higher, fee income is growing at an 8.5% compound annual rate, earnings are boosted by mergers and acquisitions, risk costs (CoR) are falling and dividend payouts could reach 70%.



Novosselsky reiterated Buy ratings on Eurobank, Alpha Bank and Piraeus, naming Eurobank his top pick with 42% upside potential. 



Fifteen years after the debt meltdown, Greece has finally shifted from fiscal tragedy to market opportunity.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/07/46348036/trump-trade-regional-bank-stocks-2025">This Trump Trade Boomed After Election—Now It May Be Making A Comeback</a><span class="author" style="box-sizing: border-box; border: 0px solid rgb(229, 231, 235); --tw-scale-x: 1; --tw-scale-y: 1; --tw-pan-x: ; --tw-pan-y: ; --tw-pinch-zoom: ; --tw-scroll-snap-strictness: proximity; --tw-gradient-from-position: ; --tw-gradient-via-position: ; --tw-gradient-to-position: ; --tw-ordinal: ; --tw-slashed-zero: ; --tw-numeric-figure: ; --tw-numeric-spacing: ; --tw-numeric-fraction: ; --tw-ring-inset: ; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246/0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; --tw-blur: ; --tw-brightness: ; --tw-contrast: ; --tw-grayscale: ; --tw-hue-rotate: ; --tw-invert: ; --tw-saturate: ; --tw-sepia: ; --tw-drop-shadow: ; --tw-backdrop-blur: ; --tw-backdrop-brightness: ; --tw-backdrop-contrast: ; --tw-backdrop-grayscale: ; --tw-backdrop-hue-rotate: ; --tw-backdrop-invert: ; --tw-backdrop-opacity: ; --tw-backdrop-saturate: ; --tw-backdrop-sepia: ; --tw-contain-size: ; --tw-contain-layout: ; --tw-contain-paint: ; --tw-contain-style: ;"></li>
</ul>



Photo: sasirin pamai/Shutterstock

Emerging Markets

Eurozone

Emerging Market ETFs

Econ #s

GREK

The Market Everyone Gave Up On Is Crushing Nasdaq 100 In 2025

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) has punched through the $113,000 mark, igniting fresh bullish momentum across the crypto market, but some experts caution the rally <a href="https://www.benzinga.com/money/bitcoin-price-prediction">may be short-lived.</a>



What Happened: Crypto trader Jelle compared the move to "a ball breaking above the surface," and suggests it's finally time for Bitcoin to soar.



<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">Like a ball being held underwater. We just broke above the surface &#8211; time to shoot higher.<a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/8t1PipBaTt">pic.twitter.com/8t1PipBaTt</a>&mdash; Jelle (@CryptoJelleNL) <a href="https://twitter.com/CryptoJelleNL/status/1943358523339084183?ref_src=twsrc%5Etfw">July 10, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



But not everyone is convinced the path higher will be smooth. 



CoinBureau co-founder Nic Puckrin told Benzinga that this breakout wasn't unexpected, given Bitcoin's recent low volatility and ongoing correlation with tech stocks like Nvidia, which just crossed a $4 trillion market cap.



Puckrin cautions that heavy resistance lies just ahead and warns that profit-taking around $115,000 could cool the momentum. 



He emphasized this move likely isn't the final run-up of the cycle, but rather a "pressure release," possibly followed by a correction and slower summer trading before the next major leg higher.



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46348748/bitcoins-booming-coinbases-167-rally-says-told-you-so">Bitcoin&#8217;s Booming &#8211; Coinbase&#8217;s 167% Rally Says &#8216;Told You So&#8217;</a>



Why It Matters: According to CryptoQuant analyst Axel Adler Jr., long-term Bitcoin holders (LTHs) have a history of <a href="https://x.com/thecryptobasic/status/1942976175925600550">selling </a>when their unrealized profits reach 300%, often triggering short-term corrections. 



This behaviour was evident during the earlier selloffs near $73,000 and $106,000.



At the current cost basis, Adler estimates Bitcoin would need to hit $137,600 before reaching that 300% unrealized profit threshold again. Until then, some gradual selling may occur, but a major LTH exodus seems unlikely just yet.



Adler also pointed out that BTC typically hits a new all-time high within 50 days of the last one—as long as a 20%+ correction doesn&#8217;t occur—suggesting more upside could follow if momentum holds.



Glassnode reports that a majority of BTC wealth is now held by newer long-term investors. Short-term holder activity remains minimal, reinforcing a more structurally bullish backdrop.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46345201/bitcoins-rally-to-112000-yes-its-different-this-time">Bitcoin&#8217;s Rally To $112,000: Yes, It&#8217;s Different This Time</a></li>
</ul>



Image: Shutterstock

Bitcoin Breaks Above $113,000...But There Is A Catch

Seasonality suggests that the bullish price action we&#8217;ve seen lately is likely to continue into the last week of July.



That sets us up perfectly for a low-risk, high-reward option play.



The trade in question is a long call in fintech company SoFi Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>). This is a very short-term trade leaning into the seasonality of July. Once August is upon us, the seasonality of this trade will taper sideways into negative price behavior.



<h2 class="wp-block-heading">How Chris Capre Is Trading This Week's Volatility — And Landing Triple-Digit Gains</h2>



Markets are bouncing on inflation data, Fed speculation, and rising geopolitical tension. While most traders are getting whipsawed, former hedge fund manager Chris Capre is capitalizing on the chaos. He's using a fast-moving strategy called Trading Waves — explicitly built for high-volatility conditions like this — and the results speak for themselves:



Chris recently locked in +87.5% on PANW, +66% on NVDA, and +115% on SOXL just by timing key breakouts and reversals. Now you can get inside the system yourself, free for 7 days, and see exactly how he's setting up for this week's opportunities. Get started right <a href="https://www.benzinga.com/premium/ideas/7-day-free-trial-chris-capre-trading-waves/?utm_campaign=7daytrial&amp;utm_adType=sponsorad&amp;utm_ad=RDweb071025">HERE</a>.



<h2 class="wp-block-heading">Eye On Expiration Date</h2>



Please note the expiration of this quick trade. Option positioning is currently very bullish in the chains with more than 45,000 contracts positioned between the $20 and $22.50 strike price. SOFI&#8217;s relative resistance zone is around $22.5, while support sits near $18.50.



With that in mind, here&#8217;s the trade:



<ul class="wp-block-list">
<li>Buy to open SOFI 25 Jul (weekly) $19 calls currently priced at $1.55.</li>
</ul>



The breakeven price of the stock at expiration on this trade is calculated by adding the debit to the strike price = $19 + $1.55 =$20.55 plus commissions. The implied volatility move is showing a target around $22.50.&nbsp;



The three main possible ways to leave the trade include:



<ol class="wp-block-list">
<li>Hold the option until the July 25 expiration date. If the price of the stock is above $19.50, the trader will relinquish the stock and can sell it at the current market price (not my first choice).</li>



<li>Set an alert for $22. Sell the option at the time the stock is priced at $22, regardless of the time the price is triggered.</li>



<li>Set a risk threshold for this option cost. I normally use 50% but this is a personal decision. Once the option cost falls below $0.80, it is advisable to sell.</li>
</ol>



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



Photo: Shutterstock

SOFI

This Week's Easy Option Play

A quiet day on Wall Street turned into a major win for airline investors Thursday, as Delta Air Lines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) surged 12% after posting second-quarter results that topped both earnings and revenue expectations, while indicating a strong demand outlook, sparking <a href="https://www.benzinga.com/markets/earnings/25/07/46341383/delta-air-lines-ceo-confident-in-stronger-2025-as-demand-holds-steady">a broad rally across the sector.</a>



Shares of American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) jumped 12.5% and United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) rallied 13.5%. The U.S. Global Jets ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JETS#NYSE">JETS</a>), which tracks airline stocks, soared 7.2% for its best day since the 90-day tariff pause in April.



Elsewhere, major large-cap averages were little moved. The Nasdaq 100 slipped 0.3% after hitting all-time highs on Wednesday. Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) eased 0.2%, following a 1.8% surge the day before that pushed its market cap to a record-breaking $4 trillion — the largest ever for any company.



Small-cap stocks continued to outperform, with the Russell 2000 touching levels last seen in February. 



A day earlier, President Donald Trump announced sweeping 50% tariffs on imports from Brazil and confirmed the 50% tariff on copper, effective Aug. 1.



iShares MSCI Brazil ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWZ#NYSE">EWZ</a>) fell 1.6% Thursday, adding to a 1.7% decline on Wednesday. The combined 3.3% drop marked the worst two-day performance for Brazilian equities since early April.



Copper futures surged 2.2% to around $5.60 per pound in reaction, with strength spilling into other industrial metals. Silver rose 1.6%, while palladium gained 3.6%, reflecting expectations of tightening supply.



Crude oil prices declined over 2% as the market absorbed reports that OPEC+ is considering halting its planned production increases starting in October, highlighting concerns about a potential oversupply after the summer. 



In economic news, the U.S. labor market showed continued resilience as initial jobless claims dropped to 237,000 last week, beating forecasts. However, continuing claims rose to 1.965 million, the highest level since 2021.



Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) traded flat at $111,300 after touching a fresh record of $112,040 on Wednesday.



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



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Major Indices</td><td>Price</td><td>%chg</td></tr><tr><td>Russell 2000</td><td>2,266.68</td><td>0.7%</td></tr><tr><td>Dow Jones</td><td>44,705.80</td><td>0.6%</td></tr><tr><td>S&amp;P 500</td><td>6,275.94</td><td>0.2%</td></tr><tr><td>Nasdaq 100</td><td>22,790.40</td><td>-0.3%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 12:18 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>) inched 0.2% higher to $574.78.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 0.6% to $446.98.</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;slipped 0.3% to $554.72.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) soared 0.7% to $225.12.</li>



<li>The&nbsp;Health Care&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) outperformed, up 1%; the&nbsp;Technology&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) lagged, down 0.4%.</li>
</ul>



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



<ul class="wp-block-list">
<li>Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) jumped more than 4% after NorthCoast Research raised its price target to $28 from $21, reiterating its &#8216;Buy&#8217; rating.</li>



<li>Freeport-McMoRan Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) climbed 3.3% as copper prices extended gains, with futures rising above $5.60 per pound amid renewed supply concerns.</li>



<li>Nu Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NU#NYSE">NU</a>) dropped 5.1% after Trump announced a 50% tariff on Brazilian imports, sparking a broad selloff in Brazil-linked assets. Read now:<a href="https://www.benzinga.com/news/25/07/46344520/defense-stocks-outperform-tech-trump-budget-boost"></a></li>



<li><a href="https://www.benzinga.com/news/25/07/46344520/defense-stocks-outperform-tech-trump-budget-boost">Forget Tech—Trump Just Made Defense The Hottest Trade On Wall Street</a></li>
</ul>



Photo: Shutterstock

JETS

NCLH

Airline Stocks Take Off, Trump Hits Brazilian ETF: What's Moving Markets Thursday?

Early data from Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) Prime Day 2025 is in, and one major firm sees the mega-sale event driving traffic and grabbing market <a href="https://www.benzinga.com/markets/large-cap/25/07/46247962/21-billion-in-4-days-amazon-prime-day-set-to-go-beast-mode-and-its-stock-might-join-the-party">share for the retailer. </a>



Early Data: Analysts from Telsey Advisory Group highlighted Google Trends data showing that Amazon's web traffic increased by more than 50% during the first 36 hours of Prime Day, compared to the previous two-week period. 



U.S. online retail sales from the first day of Prime Day climbed 10% year-over-year to reach $7.9 billion, according to Adobe Analytics.&nbsp;



Read Next: <a href="https://www.benzinga.com/news/politics/25/07/46308025/get-ready-for-800-hours-of-blackouts-trumps-doe-warns?utm_source=articleShare">Get Ready For 800 Hours Of Blackouts, Trump&#8217;s DOE Warns</a>&nbsp;



Categories showing the strongest sequential growth included appliances, electronics, tools and home improvement, home and garden, furniture, apparel and toys.&nbsp;



Amazon has doubled the duration of <a href="https://www.benzinga.com/markets/large-cap/25/07/46299727/amazon-prime-day-vs-walmart-deals-days-vs-target-circle-week-summer-sales-showdown">its sales event </a>from 24 hours to 48 hours this year, and Telsey Group sees the longer promotional period driving increased traffic and sales for the retailer. 



According to data from Numerator, the average household spent $126.26 on Amazon—almost identical to the $126.54 average during the first 32 hours of Prime Day 2024.&nbsp;



The average order value was $57.12, compared to about $60.03 last year. Top-selling items were household essentials including Liquid I.V., Dawn Platinum Powerwash, Premier Protein Shakes and electronics including the Fire TV Stick.



If average spend continues on a similar trend for the duration of 2025's extended Prime Day, Amazon could see record-breaking sales over the four-day period.&nbsp;



Telsey analysts pointed to a projection from Adobe Analytics for total sales over the Prime Day event to approach $23.8 billion, which would be a 60%+ jump over last year's event. 



Telsey Advisory Group maintained Amazon stock with an Outperform rating and $235 price target.&nbsp;



AMZN Price Action: Amazon.com shares were down 0.23% at $222.03 at the time of publication Thursday, <a href="https://www.benzinga.com/pro/" target="_blank" rel="noreferrer noopener">according to Benzinga Pro</a>.



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/health-care/25/07/46326465/unitedhealth-slammed-with-another-lawsuit-over-119-billion-stock-plunge?utm_source=articleShare">UnitedHealth Slammed With Another Lawsuit Over $119 Billion Stock Plunge</a></li>
</ul>



Photo: Shutterstock

Movers

AMZN

Amazon Prime Day 1 Sales Roar To $7.9 Billion, Shoppers Slam Website With Traffic Up 50%+

Once seen as one of Wall Street's favorite bets on a Trump presidency, regional bank stocks have lagged in 2025—but renewed optimism around deregulation and cheap valuations could <a href="https://www.benzinga.com/topic/expert-ideas">soon turn the tide.</a>



When Donald Trump won the presidential election for a second time in November 2024, regional bank stocks skyrocketed.



The SPDR Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), which tracks 147 small- and mid-sized U.S. lenders, surged 13% on Nov. 6, 2024. That was its biggest one-day rally since the vaccine frenzy of November 2020, and excluding that anomaly, the strongest since October 2008.



The Russell 2000 index, which heavily weights regional banks, popped 6% that same day, outshining the S&amp;P 500's 2.5% and the Nasdaq 100's 2.7% moves. 



No other sector on Wall Street rallied as sharply as regional banks did following the 2024 election.



Investors were betting hard that a deregulatory Trump agenda would fuel profits, spark mergers and acquisitions and slash compliance costs for smaller banks.



After Trump was sworn in January, many expected a continuation of the rally, but that never came.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="525" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10111357/image-122-1024x525.png" alt="" class="wp-image-980297" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10111357/image-122-1024x525.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10111357/image-122-300x154.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10111357/image-122-768x394.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10111357/image-122-1536x788.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10111357/image-122-2048x1051.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h2 class="wp-block-heading">Six Months In, This Trade Has Gone Nowhere—Yet</h2>



Six months into the new administration, the KRE ETF is barely unchanged for the year, while tech-heavy benchmarks continue to rise.



Some of the shine faded as investors realized that regulatory rollbacks would take time, and Federal Reserve rate cuts—key to boosting lending—never materialized.



While Wall Street has already rewarded large-cap financials—Investment Banking and Diversified Bank stocks have outperformed in 2025—regional banks have been left behind.



The iShares U.S. Broker-Dealers &amp; Securities Exchange ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>) is up 18% year-to-date, nearly three times the gain of regional banks.



<h2 class="wp-block-heading">This Forgotten Trump Trade May Be Ready To Reignite, Says Wall Street Veteran</h2>



Ed Yardeni believes that's exactly why now might be the moment to look at regional banks again.



"The Regional Banks index can't boast that. But trading at a much lower P/E and with rosy earnings rebound prospects, Regional Banks may be the more interesting play," said the Wall Street veteran in a Thursday note.



Valuation is a big part of the bull case. 



Regional banks trade at a significant discount to large-cap banks, with a forward price-to-earnings ratio in the single digits. 



The Diversified Banks and Investment Banking &amp; Brokerage industries trade at the highest forward P/Es—13.3 and 15.9—while Regional Banks lag behind with the lowest at 11.1.



That's historically low, suggesting investors aren't yet pricing in a regulatory tailwind.



&#8220;The Regional Banks industry's forward revenues and operating earnings remain well off their 2023 highs, but earnings growth is expected to improve sharply from a 7.6% decline in 2024 to increases of 11.3% and 15.5% this year and next,&#8221; Yardeni said.



Mergers and acquisitions could also come back in vogue if Trump delivers on regulatory relief. During his first term, regional banks were among the most active dealmakers. 



A repeat could help mid-sized lenders scale up in a competitive landscape dominated by giants like JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) and Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>)



Read now: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/earnings/25/07/46330576/big-banks-q2-earnings-july-2025">Big Bank Stocks Soared In 2025—But This Earnings Season Could Shake Things Up</a></li>
</ul>



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