Affirm Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>) released its third-quarter results after Thursday's closing bell. Here's a look at the key <a href="https://www.benzinga.com/pressreleases/25/05/b45299243/affirm-reports-third-fiscal-quarter-2025-results">figures in the report. </a>



The Details: Affirm reported quarterly losses of one cent per share, which beat the Street estimate of losses of three cents. Quarterly revenue of $783.13 million beat the consensus estimate of $783.03 million and is up from revenue of $576.16 million from the prior year&#8217;s quarter.



Read Next: <a href="https://www.benzinga.com/news/earnings/25/05/45292652/thursdays-top-5-trending-stocks-whats-going-on-with-d-wave-novavax-carvana?utm_source=articleShare">Thursday&#8217;s Top 5 Trending Stocks: What&#8217;s Going On With D-Wave, Novavax, Carvana?</a>



For the third quarter, Affirm reported:



<ul>
<li>Gross Merchandise Volume (GMV) grew 36% to $8.6 billion. </li>



<li>Direct-to-Consumer GMV (D2C GMV) grew 50% to $2.4 billion and Affirm Card GMV within this grew 115% to $807 million. </li>



<li>Active consumers, excluding the discontinued Returnly business, increased 23% to 21.9 million. </li>



<li>Active merchant count increased 23% to 358,000 at the end of the quarter. </li>
</ul>



&#8220;Demand for Affirm remains excellent: year-over-year GMV growth accelerated for the third consecutive quarter, including a strong March, which continued into April. Credit outcomes are in line with our predictions, and as always, we are watching attentively for any indicators of macroeconomic stress, and fine-tuning the settings of our models continuously, CEO Max Levchin wrote in a letter to shareholders.



AFRM Price Action: According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Affirm stock was down 7.96% at $49.94 after-hours Thursday.  



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/general/travel/25/05/45260938/disneys-new-abu-dhabi-theme-park-will-be-authentically-disney-and-distinctly-emirati-ceo-bob-iger-says?utm_source=articleShare">Disney&#8217;s New Abu Dhabi Theme Park Will Be &#8216;Authentically Disney And Distinctly Emirati,&#8217; CEO Bob Iger Says&nbsp;</a></li>
</ul>



Photo: Shutterstock

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Affirm Stock Sinks Despite Better-Than-Expected Q3 Results

Rocket Lab USA Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>) reported financial results for the first quarter on Thursday after the bell. Here&#8217;s a rundown of the <a href="https://www.benzinga.com/pressreleases/25/05/b45300130/rocket-lab-announces-first-quarter-2025-financial-results-posting-quarterly-revenue-of-123m-repres">end-to-end space company&#8217;s report</a>.



Q1 Earnings: Rocket Lab reported first-quarter revenue of $122.57 million, beating the&nbsp;<a href="http://benzinga.com/quote/rklb/earnings" target="_blank" rel="noreferrer noopener">consensus estimate</a>&nbsp;of $121.38 million. The company reported a first-quarter loss of 12 cents per share, beating analyst estimates for a loss of 13 cents per share, according to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.



Total revenue was up 32% year-over-year&nbsp;after the company successfully launched five Electron missions for three separate commercial satellite constellation operators in the first quarter.



The space company ended the quarter with approximately $303.15 million in cash and cash equivalents, up from $271 million at the end of 2024.



&#8220;Rocket Lab has delivered a strong first quarter performance, with wins across our launch and space systems divisions reflected in our near-record $123 million revenue — at the top end of our guidance and a 32% increase year-on-year compared to Q1 2024,&#8221; said Peter Beck, founder and CEO of Rocket Lab.



&#8220;We also remain confident in our ability to execute and deliver on what&#8217;s set to be another strong quarter, with our Q2 2025 revenue guidance in the $130m-$140 million range — which would reflect the underlying strength of our increasingly diverse business within the current geopolitical climate, showing the resilience of our vertically integrated end-to-end space company business model.&#8221;



Check This Out: <a href="https://www.benzinga.com/news/financing/25/05/45297876/after-spacex-cathie-wood-bets-big-on-elon-musks-xai">After SpaceX, Cathie Wood Bets Big on Elon Musk&#8217;s xAI</a>



Rocket Lab announced a <a href="https://www.benzinga.com/pressreleases/25/05/b45300282/rocket-lab-partners-with-u-s-air-force-for-neutron-launch-for-re-entry-mission">partnership</a> with the U.S. Air Force in which the company will launch its new medium-lift reusable rocket Neutron for a Rocket Cargo mission that supports point-to-point cargo transportation. The mission is scheduled for a return-to-Earth launch no earlier than 2026.



Guidance:&nbsp;Rocket Lab sees second-quarter revenue of $130 million to $140 million versus estimates of $136.82 million. The company anticipates an adjusted EBITDA loss of $28 million to $30 million in the second quarter.



Rocket Lab announced plans to establish a holding company structure. The new parent company, Rocket Lab Corporation, will replace Rocket Lab USA, Inc. as the publicly listed company on the Nasdaq. The new company structure is expected to be in effect by June 1.



Rocket Lab management will further discuss the company&#8217;s quarterly results on a call with investors and analysts at 5 p.m. ET.



RKLB Price Action: <a href="https://www.benzinga.com/quote/RKLB" target="_blank" rel="noreferrer noopener">Rocket Lab shares</a> were down 3.59% after-hours, trading at $22.23 at the time of publication on Thursday, according to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/05/45249164/elon-musks-mars-ambitions-take-flight-as-spacex-gets-faa-approval-for-texas-starship-launches">Elon Musk&#8217;s Mars Ambitions Take Flight As SpaceX Gets FAA Approval For Texas Starship Launches</a></li>
</ul>



Photo: courtesy of Rocket Lab.

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Guidance

RKLB

Rocket Lab Q1 Earnings: Revenue Beat, EPS Beat, Planned Neutron Launch For US Air Force, 'Another Strong Quarter' Ahead

The cryptocurrency market is pushing higher, buoyed by a newly agreed-upon trade deal between the United States and the United Kingdom.



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;</td><td>Gains +/-</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>$101,123.47</td><td>+4.8%</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>$2,064.54</td><td>+14.5%</td></tr><tr><td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td><td>$160.14</td><td>+9.3%</td></tr><tr><td>XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td><td>$2.24</td><td>+5.9%</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>$0.1902&nbsp;</td><td>+11.6%</td></tr><tr><td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>$0.00001396</td><td>+10%</td></tr></tbody></table></figure>



Notable Statistics:



<ul>
<li>IntoTheBlock data shows large transaction volume increasing by 2.3% and daily active addresses growing by 8.7%. Transactions greater than $100,000 are up from 9,668 to 10,628 in a single day. Exchanges netflows are down by 667.9%.</li>



<li>Coinglass data reports 145,654 traders were liquidated in the past 24 hours for $583.27 million, with short liquidations of $472.8 million at the highest level since April 22.</li>
</ul>



Notable Developments:



<ul>
<li><a href="Coinbase%20Acquires%20Deribit%20In%20$2.9B%20Deal%20To%20Expand%20Crypto%20Derivatives%20Business">Coinbase Acquires Deribit In $2.9B Deal To Expand Crypto Derivatives Business</a></li>



<li><a href="https://in.benzinga.com/markets/cryptocurrency/25/05/45293063/judge-dismisses-most-claims-against-tom-brady-stephen-curry-over-ftx-crypto-endorsements">Judge Dismisses Most Claims Against Tom Brady, Stephen Curry Over FTX Crypto Endorsements</a></li>



<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45277600/trumps-crypto-policy-like-a-large-buffet-says-anthony-scaramucci-you-have-to-eat-everything-at-the-table">Anthony Scaramucci Compares Trump&#8217;s Crypto Policy To Mar-A-Lago Buffet: &#8216;You Have To Eat Everything At The Table&#8217;</a></li>



<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45288788/bitcoin-ethereum-xrp-surge-as-experts-predict-btc-to-112000-soon">Bitcoin, Ethereum, XRP Surge As Experts Predict BTC To $112,000 Soon</a></li>



<li><a href="https://www.benzinga.com/25/05/45284152/coin-vs-mara-which-crypto-stock-chart-has-the-bullish-edge-before-q1-earnings-drop">COIN Vs. MARA: Which Crypto Stock Chart Has The Bullish Edge Before Q1 Earnings Drop?</a></li>



<li><a href="https://www.benzinga.com/25/05/45288307/xrp-gains-on-ripple-expansion-and-sec-vote-speculation">XRP Gains on Ripple Expansion And SEC Vote Speculation</a></li>
</ul>



Top Gainers:



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;</td><td>Gains +/-</td></tr><tr><td>Brett (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">BRETT</a>)</td><td>$0.07278</td><td>+39.4%</td></tr><tr><td>Virtuals Protocol (CRYPTO: VIRTUAL)</td><td>$1.80</td><td>+33.2%</td></tr><tr><td>Pudgy Penguins (CRYPTO: PENGU)</td><td>$0.01431</td><td>+32.4%</td></tr></tbody></table></figure>



Trader Notes: CryptoCon says many investors will regret missing phases 4 and 5 of the Bitcoin MVRV cycle, which historically mark the heart of the bull market. He remains confident that Bitcoin is en route to reclaim $100,000 and beyond.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I think there will be a lot of people who are very upset when they miss phases 4 and 5 of the Bitcoin MVRV cycle (the entire bull market). 100k+ again feels nice! <a href="https://t.co/5VXuGcvJL0">pic.twitter.com/5VXuGcvJL0</a>&mdash; CryptoCon (@CryptoCon_) <a href="https://twitter.com/CryptoCon_/status/1920518551359656110?ref_src=twsrc%5Etfw">May 8, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Crypto trader Kevin highlighted his April 28 prediction of a drop in Bitcoin dominance, which has since declined by 1%, confirming his forecast that altcoins would begin outperforming BTC.



Meanwhile, Blockchainedbb remains disciplined in her strategy, despite Bitcoin's 34% rally. She plans to take profits within a set range and anticipates BTC will consolidate between $108,000–$122,000 for up to three months. During that time, she expects a strong altcoin rally, warning that most retail buyers will likely enter near the top, repeating classic cycle behaviour.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> up 34% . Absolutely no change in plan . I'll take profits , at the said range ! <a href="https://twitter.com/search?q=%24BTc&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTc</a> will hover between 108-122k for upto 3 months and alts will rally hard so yall buy the top . And you will . History will repeat ! <a href="https://t.co/o5IAMlqFpI">https://t.co/o5IAMlqFpI</a>&mdash; Blockchainedbb (@blockchainedbb) <a href="https://twitter.com/blockchainedbb/status/1920481433375674369?ref_src=twsrc%5Etfw">May 8, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Rekt Capital added that the recent bullish divergence ended Bitcoin's downside deviation, pushing BTC back above $100,000, signaling renewed strength.



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45281333/bitcoin-120000-price-target-may-be-too-low-says-standard-chartered-i-apologize">Bitcoin $120,000 Price Target May Be Too Low, Says Standard Chartered: &#8216;I Apologize&#8217;</a></li>
</ul>



Image: Shutterstock

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$BTC

$DOGE

$ETH

$SHIB

$SOL

$XRP

Bitcoin, Ethereum, XRP, Dogecoin Explode For Double-Digit Percentage Gains After Trump Trade Deal News

Mexican stocks are charging ahead of their U.S. counterparts this year, setting the stage for their strongest outperformance versus the S&amp;P 500 since 2005, defying speculations that a Donald Trump administration would deal a<a href="https://www.benzinga.com/topic/mexico"> blow to Mexican assets. </a>



Through May 8, the iShares MSCI Mexico ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWW#NYSE">EWW</a>)—a key vehicle for U.S. investors to access Mexican equities—has surged 26%, while the S&amp;P 500, tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), has dropped 4.5%.



That's a staggering 30.5 percentage point lead in less than five months, rivaling the 37% annual outperformance seen in 2005—but at a much faster pace.



<h3 class="wp-block-heading">Mexican vs. US Stocks: YTD Performance (Through May 8, 2025)</h3>



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><thead><tr><th>Index/ETF</th><th>YTD % Change</th></tr></thead><tbody><tr><td>EWW (iShares MSCI Mexico)</td><td>+26.0%</td></tr><tr><td>SPY (SPDR S&amp;P 500)</td><td>-4.5%</td></tr><tr><td>Outperformance Gap</td><td>+30.5%</td></tr></tbody></table></figure>



<h3 class="wp-block-heading">Peso Recovery And Economic Resilience Fuel the Rally</h3>



The Mexican peso has appreciated 6.5% against the U.S. dollar so far this year, clawing back losses after a 23% decline in 2024. 



Meanwhile, the Mexican economy narrowly avoided a technical recession in the first quarter, while the U.S. economy contracted.



"Despite heightened domestic and external uncertainty, Mexico (barely) escaped entering a technical recession in 1Q25," said Alberto Ramos, economist at Goldman Sachs.



According to Ramos, strong trade flows into the U.S. ahead of anticipated import tariff changes supported activity in early 2025. However, he also flagged warning signs, with weakening business confidence and a downturn in manufacturing sentiment.



April's manufacturing PMIs showed clear contraction, particularly in new domestic and export orders.



<h3 class="wp-block-heading">Banxico In Easing Mode As Growth Risks Rise</h3>



Mexico's central bank has responded to the shifting macroeconomic landscape with monetary easing. Since July 2024, Banxico has cut rates by 200 basis points, bringing the policy rate down to 9%.



Since January, the pace of cuts has accelerated to 50 basis points per meeting. This comes amid rising global uncertainty, especially around the potential for renewed U.S. trade tensions under the Trump administration.



Analysts expect another 50-basis-point cut on May 9, assuming inflation trends continue to improve, suggesting further easing may be in the pipeline.



<h3 class="wp-block-heading">Top-Performing Mexican Stocks In 2025</h3>



Several Mexican equities have delivered stellar returns this year, with four stocks in the EWW ETF already posting gains above 50%:



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><thead><tr><th>Company</th><th>YTD Performance</th><th>Description</th></tr></thead><tbody><tr><td>Operadora de Sites Mexicanos</td><td>+63%</td><td>Operates telecom towers and infrastructure; a major player in wireless expansion.</td></tr><tr><td>Industrias Peñoles</td><td>+59%</td><td>A mining firm with large exposure to silver, zinc, and precious metals.</td></tr><tr><td>Gentera</td><td>+57%</td><td>Provides microfinance and banking services to underserved markets.</td></tr><tr><td>Megacable Holdings</td><td>+53%</td><td>Offers broadband, TV, and telecommunications services across Mexico.</td></tr></tbody></table></figure>



A key contributor has also been Grupo Financiero Banorte, up 35% year to date and currently the largest holding in the EWW ETF, with an 11% weight.



Market breadth has been notably positive, with just 6 of the 47 EWW constituents posting losses this year through May 8.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/government/regulations/25/05/45266366/powell-flags-sharp-tariff-shock-elevated-uncertainty-fed-sticks-to-wait-and-see-mode">Powell Flags Sharp Tariff Shock, Elevated Uncertainty: Fed Sticks To &#8216;Wait-And-See&#8217; Mode</a></li>
</ul>



Photo: Shutterstock

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Mexican Stocks Post Biggest Outperformance Over Wall Street In 20 Years

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) on Thursday evening crossed the $100,000 milestone for the first time in three months, fueling debate over whether this marks the beginning of a sustainable bull run or a <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45288788/bitcoin-ethereum-xrp-surge-as-experts-predict-btc-to-112000-soon">momentary technical breakout. </a>



Experts are now focused less on the price level itself and more on what the breakout signals for Bitcoin&#8217;s evolving role in global finance.



What Experts Are Saying: Speaking with Benzinga, Christian Thompson, Managing Director at the Sui Foundation said he believes the narrative is shifting from passive holding to real-world use cases.



"Bitcoin hitting $100,000 is a big milestone, but the real story is what happens next," he said. "We're entering a phase where you can actually use it — to borrow, lend or access new kinds of financial tools."



Thompson noted that platforms like Sui are enabling developers to build more practical and secure applications, likening the current transition to the shift from plug-in to battery-powered tools: "It suddenly made everything more mobile, more accessible, and easier to build with. That's what we're seeing with Bitcoin now."



Bitcoin is currently trading at $101,450, having reached an intraday high of $101,784, up about 5% in the past 24 hours. Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) is also rallying, up 13%, while Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) and XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) gained 10% and 6%, respectively.



Duncan Moir, President of 21Shares, emphasized Bitcoin&#8217;s growing identity as a standalone asset class. 



"Bitcoin&#8217;s recovery to $100,000 isn't just a milestone: it's a powerful confirmation that crypto is entering a new era," Moir said in a note to Benzinga. "Investors are no longer treating Bitcoin as just a speculative play. It's becoming a strategic allocation and a store of value."



From a technical perspective, Arthur Azizov, Founder of B2 Ventures, pointed to key breakouts. 



Also Read:<a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45293063/judge-dismisses-most-claims-against-tom-brady-stephen-curry-over-ftx-crypto-endorsements"> Judge Dismisses Most Claims Against Tom Brady, Stephen Curry Over FTX Crypto Endorsements</a>



"BTC has broken out of the descending channel and pennant formation, both indicating bullish patterns," he said. 



While he warned that the current RSI suggests an overbought condition, he noted strong volume support and identified $103,000–$105,000 as the next key resistance zone.



Azizov also linked the rally to geopolitical developments and institutional demand. 



"Trump's announcement about removing tariffs on UK steel and aluminum and the Fed&#8217;s decision to preserve rates have lifted risk assets. 



Meanwhile, Strategy's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) move to increase its BTC reserves is reinforcing institutional confidence."



Grigore Roșu, CEO of Pi Squared, added that Bitcoin's price action reflects broader sentiment. 



"The upswing follows the Fed's recent decision to maintain interest rates, alleviating pressure on risk assets," he said. "Ethereum's 12% rally in the past 24 hours also reflects confidence, driven by the successful implementation of its Pectra upgrade."



Anthony Anzalone, CEO of XION, echoed those views, stating: "Bitcoin crossing $100k solidifies its role as &#8216;digital gold.&#8217; Some experts like Charles Hoskinson are even more bullish, predicting BTC could reach $250k by the end of 2025."



Meanwhile, Alice Liu, Head of Research at CoinMarketCap, stressed that macro trends are playing a crucial role. 



"The U.S. Dollar Index has dropped 9% since January, and the U.S. M2 money supply has risen 4% year-on-year—both supportive of Bitcoin," she told Benzinga. 



She also noted that Bitcoin exchange balances are at their lowest since 2018, indicating long-term accumulation. "It's still too early to call this a full-fledged bull market, but the fundamentals are aligning."



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45287050/coinbase-acquires-deribit-in-2-9b-deal-to-expand-crypto-derivatives-business">Coinbase Acquires Deribit In $2.9B Deal To Expand Crypto Derivatives Business</a></li>
</ul>



Image: Shutterstock

MSTR

Bitcoin Breaks $100,000, Ethereum, XRP, Dogecoin Roar 10% Higher: What Do Experts Predict Next?

Bank of America is doubling down on its call that the Federal Reserve will not cut interest rates in 2025, underscoring the central bank's growing discomfort with a dual threat of rising inflation and unemployment revealed at <a href="https://www.benzinga.com/topic/federal-reserve">this week's policy meeting.</a>



In a note shared Thursday, BofA economist Aditya Bhave said the key takeaway from the May Federal Open Market Committee meeting was "an upgrade to the Fed&#8217;s assessment of economic uncertainty." 



Bhave referred to two new lines in the Fed's statement: first, that uncertainty "has increased further," and second, "risks of higher unemployment and higher inflation have risen."



<h3 class="wp-block-heading">Hawkish Tilt As Fed Acknowledges Stagflation Risks</h3>



While the Fed kept rates unchanged at 4.25%-4.50%, Chair Jerome Powell's press conference took a cautious, hawkish tone compared to March.



Powell repeatedly emphasized the central bank's comfort with staying on hold and made clear that the Fed would not act preemptively—unlike in 2019 when it delivered three rate cuts as inflation was running well below target.



That's not the case today. Core inflation has exceeded the Fed's 2% target for four straight years, giving policymakers far less room to maneuver. 



Bhave said Powell's message was clear: "Uncertainty is high, and the Fed is comfortable staying on hold until there is greater clarity."



<h3 class="wp-block-heading">Higher Bar For Cuts, Markets Start To Adjust</h3>



According to Bhave, this approach means the hurdle for a June cut is now significantly higher. 



Market expectations have already begun to reflect that shift. 



The CME FedWatch tool shows that the probability of a June rate cut tumbled to 16% on Thursday &#8211; down from 28% before Powell's remarks. The chances of a July move are 65%, down from 92% a week ago.



BofA's base case assumes a steady labor market paired with renewed inflationary pressures—conditions that effectively rule out any Fed rate cuts.



"If our base case of a steady labor market and rising inflation is correct, we don&#8217;t see a path to cuts in 2025," Bhave said.



<h3 class="wp-block-heading">Implications For Markets</h3>



BofA rate strategist Mark Cabana said front-end Treasury yields could move higher as investors increasingly price out near-term rate cuts. He also recommends staying underweight in longer-dated Treasuries, where issuance—particularly in the 30-year tenor—continues to exceed demand.



BofA maintains a broadly bearish stance on the U.S. dollar despite adopting a more hawkish-than-consensus view on the rate outlook. Cabana said the dollar remains "notably dislocated from short-term rate differentials," and that this misalignment is unlikely to correct through subtle shifts in Fed language alone.



"We remain broadly dollar-bearish, and negative sentiment more broadly has increased over the past month, with many re-thinking broader allocations to U.S. assets and/or FX hedges," the investment bank said.



The U.S. dollar index – as tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) – has fallen 8% year-to-date, on track for its worst year since 2017. 



 Read now: 



<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45269703/stagflation-emerges-as-key-economic-risk-to-federal-reserve-policy-economists-warn">Stagflation Emerges As Key Risk To Fed Policy, Economists Warn: &#8216;We&#8217;re Grappling With A Rare Trifecta&#8217;</a></li>
</ul>



Photo: Shutterstock

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Forget Rate Cuts This Year, Bank Of America Warns After Powell's Hawkish Tone

U.S. stocks rallied Thursday after the Trump administration signed its first major trade agreement with the United Kingdom, igniting optimism about further global deals — especially with China — and lifting investor <a href="https://www.benzinga.com/markets">appetite for riskier assets.</a>



The S&amp;P 500 jumped 1.3% to close at 5,700, led by gains in technology stocks. The Russell 2000 soared 2.1%, outperforming larger-cap counterparts and fully recovering the losses triggered by the April 2 tariff announcement.



Under the deal, the U.S. slashed tariffs on UK-made vehicles from 25% to 10%, granting British carmakers a 100,000-vehicle quota. In return, the UK reduced tariffs on American beef to near-zero levels and pledged to purchase $10 billion worth of Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) aircraft. Trump confirmed that the 10% tariff would remain the baseline for now, though he suggested other nations with large trade surpluses should expect higher rates.



During a press briefing, Trump hinted at the &#8220;biggest tax cuts in history&#8221; and urged investors to act: "You better go out and buy stock. This country will be like a rocket ship," he said.



The president also responded to Federal Reserve Chair Jerome Powell, who noted a day earlier he hadn't been invited to meet with Trump. "I could call him from a meeting, but it's like talking to a wall," Trump said. 



"He's always too late [in cutting interest rates]. But in this case, it's not going to matter that much because our country is so strong."



Markets reflected that strength. The U.S. dollar rallied sharply as the new trade deal and reduced economic uncertainty boosted confidence. The U.S. Dollar Index (DXY) jumped to its highest level since April 11, climbing over 1% against the Japanese yen.



Treasury yields rose across the curve, with the 10-year yield adding 7 basis points to reach 4.34%.



In commodities, gold prices dropped as investors rotated out of safe havens. The SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) fell 1.5%, trimming its weekly gains. Oil prices rose 3.5%, with West Texas Intermediate crude topping $60 per barrel.



Crypto markets erupted higher. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) broke above $100,000 for the first time since February, rising 4.1%. Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) surged 13%, while Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) gained 10%.



<h3 class="wp-block-heading">Thursday&#8217;s Performance In Major US Indices, ETFs</h3>



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Major Indices</td><td>Price</td><td>1-day % Chg</td></tr><tr><td>Russell 2000</td><td>2,030.85</td><td>+2.1%</td></tr><tr><td>Nasdaq 100</td><td>20,218.21</td><td>+1.8%</td></tr><tr><td>Dow Jones</td><td>41,683.40</td><td>+1.4%</td></tr><tr><td>S&amp;P 500</td><td>5,707.58</td><td>+1.3%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 12:10 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>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rallied 1.4% to $569.13.</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 1.4% to $416.94.</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;rallied 1.8% to $491.78.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) soared 2.2% to $201.78.</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 2.5%; 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 0.4%.</li>
</ul>



<h3 class="wp-block-heading">Thursday&#8217;s Stock Movers</h3>



Stocks reacting to earnings reports included: 



<ul>
<li>Fortinet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) down 9.5%</li>



<li>Axon Enterprise Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AXON#NASDAQ">AXON</a>) down 0.6%</li>



<li>Corteva Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTVA#NYSE">CTVA</a>) up 6.2%</li>



<li>Occidental Petroleum Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) up 6.3%</li>



<li>Texas Pacific Land Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPL#NYSE">TPL</a>) up 1.5%</li>



<li>Atmos Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ATO#NYSE">ATO</a>) up 0.6%</li>



<li>Fidelity National Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FNF#NYSE">FNF</a>) down 7.0%</li>



<li>Western Gas Partners LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WES#NYSE">WES</a>) up 2.9%</li>



<li>Shopify Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>) down 1.85%</li>



<li>ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>) up 4.30%</li>



<li>Canadian Natural Resources Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNQ#NYSE">CNQ</a>) up 4.93%</li>



<li>Cheniere Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LNG#NYSE">LNG</a>) up 0.79%</li>



<li>Sempra (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SRE#NYSE">SRE</a>) up 0.83%</li>



<li>Cenovus Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVE#NYSE">CVE</a>) up 8.87%</li>



<li>Tapestry, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPR#NYSE">TPR</a>) up 4.26%</li>



<li>Molson Coors Beverage Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>) down 3.44%</li>



<li>Lincoln National Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LNC#NYSE">LNC</a>) down 0.60%</li>



<li>PENN Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>) up 1.64%</li>



<li>Hanesbrands Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HBI#NYSE">HBI</a>) up 5.21%</li>



<li>Spectrum Brands Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPB#NYSE">SPB</a>) up 3.81%</li>



<li>Global Partners LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLP#NYSE">GLP</a>) down 2.15%</li>



<li>NCR Voyix Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VYX#NYSE">VYX</a>) up 15.14%</li>



<li>Owens &amp; Minor, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OMI#NYSE">OMI</a>) down 7.16%</li>
</ul>



Stocks slated to report earnings after the close include Akamai Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AKAM#NASDAQ">AKAM</a>), Expedia Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>), Microchip Technology Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHP#NASDAQ">MCHP</a>), McKesson Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCK#NYSE">MCK</a>), and News Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWSA#NASDAQ">NWSA</a>).



Read now: 



<ul>
<li><a href="https://www.benzinga.com/politics/25/05/45293839/trump-starmer-strike-us-uk-trade-deal-steel-cars-beef">Trump, Starmer Strike US-UK Trade Deal: Steel, Cars, Beef At Center Of Pact</a></li>
</ul>

Mid Cap

Sector ETFs

Commodities

Tech

AKAM

AXON

CTVA

EXPE

FTNT

MCHP

NWSA

PENN

SHOP

Wall Street Rallies After US Seals First Trade Deal: 'You Better Go Out And Buy Stock,' Trump Says

Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) analysts highlight strong parks and streaming growth with raised guidance after <a href="https://www.benzinga.com/25/05/45251203/disney-rides-strong-subscriber-growth-and-movie-hits-lifts-forecast-with-1-billion-streaming-goal">first-quarter results. </a>



The Disney Analysts: Bank of America analyst Jessica Reif Ehrlich reiterated a Buy rating on Disney with a $140 price target.



Guggenheim analyst Michael Morris maintained a Buy rating and lowered the price target from $130 to $120.



Needham analyst Laura Martin maintained a Buy rating with a $125 price target.



Read Also: <a href="https://www.benzinga.com/general/education/25/05/45262536/disney-expands-to-abu-dhabi-with-new-theme-park-heres-how-the-stock-performs-after-park-openings">Disney Expands To Abu Dhabi With New Theme Park: Here&#8217;s How The Stock Performs After Park Openings</a>



Bank of America on DIS: The media giant had a "resilient" quarter despite macro trends, Ehrlich said in a new investor note.



The analyst said revenue, operating income, earnings per share and free cash flow were all above expectations.



Ehrlich said Disney raising its full-year earnings per share was "encouraging considering recent macro volatility."



"While DIS did not raise FY25 Experiences guidance, future bookings data is strong, with Walt Disney World bookings up 4% in 3Q and 7% in 4Q," Ehrlich said.



The analyst said near-term catalysts include profitability inflection for the direct-to-consumer segment, reacceleration of the Parks business, and a strong film slate that drives the other business segments.



Guggenheim on DIS: Morris also highlighted the "resilience" shown by Disney in key categories despite the macro concerns.



"Broad-based beat coupled with management maintaining and/or raising most FY25 guidance and longer-term EPS growth outlook underpin confidence in our Buy rating," Morris said.



The analyst said that management commentary highlighted strong domestic park bookings over the next two quarters and said advertising revenue will likely come in ahead of previous guidance.



"DTC subscriber trends remain healthy, with management highlighting churn/engagement benefit from Hulu integration within Disney+."



The analyst said Disney&#8217;s long-term strength includes Parks growth and a renewed focus on profitable growth for media and entertainment, while consumer demand uncertainty and linear network decline remain concerns.



Needham on DIS: Raised earnings per share guidance and a newly announced Disney theme park highlighted in the quarter for Martin, who called it a "strong" quarter.



Martin said the launch of ESPN&#8217;s flagship streaming platform in the fourth quarter is another item to look forward to, as there will be an option to bundle it with Hulu and Disney.



"DIS believes that there's nothing like this subscription-driven bundle in the streaming industry. It's unrivaled in terms of quality, in terms of volume, and in terms of variety," Martin said.



The analyst highlighted Disney's DTC segment having its fourth consecutive profitable quarter with the company saying full-year DTC operating profit is expected to be over $1 billion.



"This strong profit growth suggests that Disney+ and Hulu are on track to achieve long-term sustainable profitability."



DIS Price Action: Disney stock was up 3.1% to $105.27 on Thursday, versus a 52-week trading range of $80.10 to $118.63. However, Disney stock is down 5% year-to-date in 2025, while shares have remained nearly flat over the last year.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/general/entertainment/24/12/42750888/top-anticipated-2025-movies-for-big-screen-success-and-stocks-investors-should-watch">Top Anticipated 2025 Movies For Big Screen Success And Stocks Investors Should Watch</a></li>
</ul>



Photo: Jerome LABOUYRIE / Shutterstock.com

Price Target

Reiteration

Trading Ideas

Disney Stock 'Resilient' In Uncertain Economy As Raised Guidance Signals Confidence

Despite last week&#8217;s market rally, which saw US markets recover losses since President Trump&#8217;s <a href="https://www.benzinga.com/25/04/44756759/new-research-shows-donald-trumps-25-tariffs-could-cost-auto-companies-108billion-report">tariff announcement </a>in early April, American stocks are still underperforming their European counterparts.



The S&amp;P 500 has rallied 12.5% since Trump's reciprocal tariffs <a href="https://www.benzinga.com/25/04/44729384/trump-pauses-tariffs-after-yields-surge-bond-vigilantes-hit-another-homerun-experts-point-to-bond-market-panic-for-reversal">were paused</a>, but the Vanguard Europe ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VGK#NYSE">VGK</a>) is up over 18% in the same timeframe. Despite the ‘Sell America' trade losing some steam, investors still seem to prefer European equities to US equities.



Of course, this surge in European stocks has left most big-name European investments at high valuations. But that doesn&#8217;t mean there are no more good stocks to buy across the Atlantic.



Today, we&#8217;re looking at five European stocks that haven&#8217;t rallied as much as their peers but are still undervalued and have room to run.



Each one ranks high on Benzinga Edge&#8217;s Value rankings, too.



These firms all have a Price-to-Earnings (P/E) ratio under 15, a minimum Benzinga Edge Value score of 85, and sales growth of at least 10% over the last five years. Note that many of these companies trade in the US using securities like American Depository Receipts (ADRs), which function as proxies to international equities but have some differences investors should familiarize themselves with before buying.



<h2 class="wp-block-heading">Equinor ASA</h2>



Benzinga Edge Value Score: 93.23



Equinor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQNR#NYSE">EQNR</a>) is a fully integrated oil and gas company based in Norway. It has a $63.6 billion market cap and a P/E ratio of 7.31. The Norwegian government owns a 67% stake in the firm, but its shares trade on the New York Stock Exchange and European exchanges. Equinor mines for oil on the Norwegian Continental Shelf and also operates solar, wind, and natural gas refineries.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXe9uPC-lJJzFwPSnbTtP5iOa07AApLaHwDVkx3cgQuDwKxkHYYa2lO-9RTR3f16_dikQs_Z3g7lEHrZQy37gWEx79XB6beJnFDwFBMHuGufDDUdQTUnPT_2t2tJ8TyStw0zNFdTng?key=K8dCG8bnYTHY9lvM_fV4Pg" alt=""/></figure>



Equinor&#8217;s revenue has expanded for the last three quarters, the first time it has seen revenue growth in three consecutive quarters since 2022. Despite the recent slowdown, Equinor has grown sales at a 21% clip over the last five years, and its dividend currently yields over 6%. A recent earnings miss caused the stock to drop, but the decline ended at the same level as a previous drawdown, indicating a potential bottom and possible entry point.



<h2 class="wp-block-heading">Adecoagro SA&nbsp;</h2>



Benzinga Edge Value Score: 91.79



With a ticker like that, you can probably guess the industry—Adecoagro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGRO#NYSE">AGRO</a>) is a small-cap agricultural firm headquartered in Luxembourg with operations primarily in South America. Although its market cap is under $1 billion, it posted $1.45 billion in revenue over the last 12 months and has grown sales by 13% in the previous five years.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcnBdbVblawYAfq6oDU5lbM73vfH85oa82lcWlDQj5q3E0kpFdS3RICq_NqKfr0LPWMpw4LFPSaeOlOITBfhsBBen5KOQW0f8TCkmyW4VAmalQUR7o_a54X1DufAY_0MnQWYK0zgQ?key=K8dCG8bnYTHY9lvM_fV4Pg" alt=""/></figure>



AGRO shares have a P/E ratio of 9.49 and trade at just 0.60 times sales, but recent downgrades from Morgan Stanley and Bank of America sent the stock plunging under $9 per share. It is trading near its 52-week low, but the Relative Strength Index (RSI) is in oversold territory, indicating this selloff might be petering out.



<h2 class="wp-block-heading">Global Ship Lease Inc.&nbsp;</h2>



Benzinga Edge Value Score: 96.89



Global Ship Lease (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSL#NYSE">GSL</a>) is a Greek-based container shipping line with over 60 ships and a market cap of around $760 million. Most of the company's business comes from MAERSK charters, and its sales have grown by 24% over the last five years. It currently trades with a P/E ratio of just 2.28 with a Price-to-Book value of 0.52.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfOgyaKxvTPC7jixULOPzcVWRVCZC1_kwpZ-pTnfsWfxzIDQ13pdnSZ7oqHHVvR9xR-A7-LPUPNfNNYBTvMRWXt-1VEhuKJNSNFuA-cUOlLkoV4hR-BjNqSISDSSX_3ZUAeULmr_Q?key=K8dCG8bnYTHY9lvM_fV4Pg" alt=""/></figure>



Investing in a shipping company seemed risky once the reciprocal tariff chart was released, and GSL shares plummeted in the days following Trump's Rose Garden announcement. But the stock has rebounded in the weeks following the pause, including a rally that saw eight green candles in nine days. GSL has boosted revenue in six of the last seven quarters as well. Its profit margins are approaching 50%. Jeffries is the only research firm with a rating on the stock, but it&#8217;s a Buy with a price target of $29, indicating an upside of over 35%.



<h2 class="wp-block-heading">Tenaris SA&nbsp;</h2>



Benzinga Edge Value Score: 87.64



Tenaris (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TS#NYSE">TS</a>) resides in the energy sector and produces goods used in oil and gas well construction. The company is based in Luxembourg but has operations in the United States, Argentina, Mexico, and Italy. Tenaris builds some of the most resilient tubular goods used in deep-water and horizontal shale wells.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXepep04kxFz5LigOCKkOFTi_Jcao2DZdJkX_HHkYojkCFq8T8MpSe8B2L6nLoHqsJPJr_Zo7zNlybBiY5ztH0IaQWhsyfrz0j42D9UlCkiuz0cMuuXT4RQPoO0i1e-Cg4k-x6jriA?key=K8dCG8bnYTHY9lvM_fV4Pg" alt=""/></figure>



Tenaris is a large-cap firm in the oil and gas space with an $18 billion market cap and $12 billion in annual sales. The company has grown sales by 17.7% over the last five years, but revenue has declined recently. Profit margins have dipped from 26% in December 2023 to 15% in the most recent report in March. The stock fell below the 50-day and 200-day SMAs following the Rose Garden press conference, but the steep decline triggered an oversold reading on the RSI, and shares currently trade at just 9.5 times forward earnings. 



<h2 class="wp-block-heading">Stellantis NV&nbsp;</h2>



Benzinga Edge Value Score: 97.56



A car manufacturer like Stellantis (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) might seem like a bold investment choice in a trade war. The company makes popular American brands like Dodge, Jeep, and Ram. However, only 26% of Stellantis's 2024 sales occurred in North America, and the company does nearly 50% of its business in Europe, providing some level of tariff protection. Stellantis made more than $169 billion in sales over the last 12 months with income of $5.92 billion.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcIzUAo3AZPVu8UKpGTgkdqpIuMjcVaF-M0OOtPDRxN3cet_4mwFsaLpd-gsOEsoQaF-T5fNXFAFCIhfmKGc89IlU-kM5-nZ3QLXtdyk7PAylOfuFCCTpfxAVmP85hQPqQgH3rYQg?key=K8dCG8bnYTHY9lvM_fV4Pg" alt=""/></figure>



Car manufacturers like Stellantis have been some of the hardest hit stocks during the tariff tumult; its shares are down more than 28% year-to-date. However, it might be an opportune time to take a position in the stock as Stellantis is a large-cap company with a significant global presence. The company grew revenue by 33.6% over the last five years and trades at its cheapest valuation in years at just 4.8 times earnings and 0.16 times sales. The stock also pays a 6% dividend yield with a 36% dividend payout ratio, offering income as well as stock price appreciation. And with the RSI triggering an oversold signal, a momentum reversal could be coming soon.



<h2 class="wp-block-heading">The Market's Out of Control – You Don't Have to Be</h2>



Seize back control with Benzinga Edge – your investment command center. With real-time portfolio alerts, actionable stock ideas, and pro-grade tools…you get the complete investor's arsenal — ready to help you profit in any market. Take Back Control Now – Get Your Edge <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/?el=ResearchDaily&amp;he=%7B%7Bemail%7D%7D&amp;adt_ei=%7B%7Bemail%7D%7D&amp;utm_adType=SponsorAd&amp;utm_ad=RD0508&amp;utm_campaign=commandcenter">HERE</a>



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

AGRO

EQNR

STLA

5 European Stocks Rated High On Our Value Rankings

Major cryptocurrencies rallied across the board following President Trump&#8217;s announcement of a <a href="https://www.benzinga.com/25/05/45277281/us-and-uk-close-to-finalizing-trade-deal-as-trump-teases-very-very-big-announcement-report">trade deal with the United Kingdom.</a>



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;</td><td>Gains +/-</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>$99,520.02</td><td>+2.6%</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>$1,949.30</td><td>+6.3%</td></tr><tr><td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td><td>$153.93</td><td>+4.3%</td></tr><tr><td>XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td><td>$2.20</td><td>+3.1%</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>$0.1833</td><td>+5.8%</td></tr><tr><td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>$0.00001342</td><td>+4.8%</td></tr></tbody></table></figure>



Notable Statistics:



<ul>
<li>IntoTheBlock data shows Bitcoin large transaction volume and daily active addresses increased by 2.3% and 8.7% respectively in a single day. Transactions greater than $100,000 increased from 9,668 to 10,628. Driven by recent optimism, around 97% BTC holders are in profit.</li>



<li>Coinglass data shows crypto total short liquidations at $239 million, the highest since April 22, while long liquidations ($20.2 million) are at their lowest since April 19.</li>



<li>Trader Christiaan Defi <a href="https://x.com/ChristiaanDefi/status/1920404171074736514">highlighted </a>a new peak in cumulative Bitcoin ETF inflows at $40.6 billion, the highest ever.</li>



<li>Crypto chart analyst Ali Martinez <a href="https://x.com/ali_charts/status/1920236196904775714">pointed</a> out that whales booked profits by selling more than 60,000 BTC to capitalize on the recent price surge.</li>
</ul>



Trader Notes: Martinez flagged a major resistance at $101,673, with 81,910 BTC held at that level. Strong support lies at $94,719, where 195,320 BTC were accumulated.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> has established a strong support floor at $94,719, where 195,320 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> were accumulated. On the upside, a key resistance wall stands at $101,673, with 81,910 <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> accumulated at that level. <a href="https://t.co/PRFCKAeDFY">pic.twitter.com/PRFCKAeDFY</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1920414739714265187?ref_src=twsrc%5Etfw">May 8, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



In another X post, Martinez <a href="https://x.com/ali_charts/status/1920236196904775714">confirmed</a> Ethereum has broken past prior resistance at $1,860, where over 4.5 million wallets held ETH. He expects ETH to rally.



CryptoQuant analysts <a href="https://x.com/cryptoquant_com/status/1920402256056160681">warn</a> Ethereum is deeply undervalued compared to Bitcoin — a historically bullish signal, but caution remains due to supply pressure, weak demand and flat activity which could hamper the rebound.



Trader Mags predicts XRP to hit $2.80, noting favorable structure.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$XRP</a> is looking good here. $2.8 soon. <a href="https://t.co/mbX8WlaGml">pic.twitter.com/mbX8WlaGml</a>&mdash; Mags (@thescalpingpro) <a href="https://twitter.com/thescalpingpro/status/1920425126618608009?ref_src=twsrc%5Etfw">May 8, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



While CW <a href="https://x.com/CW8900/status/1920372695222673486">predicts</a> Solana to spike to $270 if it breaks through the sell wall at $270, Trader Tardigrade <a href="https://x.com/TATrader_Alan/status/1920421682323599588">points</a> to a breakout in Dogecoin's RSI, calling its uptrend "programmed."



A Texas bill to create a Strategic Bitcoin Reserve cleared a key House committee and now heads to a floor vote. 



In Arizona, the governor established a Bitcoin and Digital Assets Reserve Fund using unclaimed digital property. 



New Hampshire also made headlines, becoming the first state to legally authorize public fund investments in Bitcoin and other approved digital assets.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45192498/bitcoins-key-level-is-96500-analyst-warns-but-heres-what-could-trigger-a-breakdown">Bitcoin&#8217;s Key Level Is $96,500, Analyst Warns, But Here&#8217;s What Could Trigger A Breakdown</a></li>
</ul>



Image: Shutterstock

Bitcoin Close To $100,000, Ethereum, XRP, Dogecoin Pump As Trump Touts Trade Deal With The UK

U.S. Vice President J.D. Vance has highlighted the importance of unity between the U.S. and Europe, marking a significant shift from his previous stance.



What Happened:&nbsp;Vance made these comments at&nbsp;the Munich Leaders Meeting in&nbsp;Washington on Wednesday. &#8220;I&nbsp;do still very much think&nbsp;the US and Europe are&nbsp;on the same team,&#8221; stated Vance, as reported by the&nbsp;<a href="https://www.scmp.com/news/world/europe/article/3309470/striking-softer-tone-vance-says-us-and-europe-same-team">South China Morning Post</a>. &nbsp;His comments stood in stark contrast to his February speech at a security forum in Munich, where he drew criticism in Europe for attacking EU policies on immigration and free speech.



In his latest address, Vance stressed the deep-rooted connections between&nbsp;Europe and the United States. He dismissed the notion of a significant divide between the two and said &#8220;..it's completely ridiculous to think that you're ever going to be able to drive a firm wedge between the United States and Europe."



SEE ALSO:&nbsp;<a href="https://benzinga.com/25/05/45254558/china-could-sell-its-us-holdings-without-having-to-give-in-says-expert-risk-asset-prices-are-trumps-achilles-heel" target="_blank" rel="noreferrer noopener">China Could Sell Its US Holdings Without Having To &#8216;Give In,&#8217; Says Expert: &#8216;Risk Asset Prices Are Trump&#8217;s Achilles Heel&#8217;</a>



Why It Matters: Vance&#8217;s change in tone comes amid a series of events that have strained US-Europe relations. In April, the&nbsp;<a href="https://www.benzinga.com/markets/eurozone/25/04/44695371/eu-online-crackdown-may-fuel-more-tensions-with-trump-officials">EU&#8217;s crackdown</a> on online speech&nbsp;led to potential tensions with the Trump administration. Later that month, concerns arose that&nbsp;China might exploit <a href="https://www.benzinga.com/news/global/25/04/44892820/xi-jinping-could-woo-europe-with-a-potential-china-deal-to-undercut-trumps-tariff-strategy-expert-warns">strained US-EU relations</a>&nbsp;to its advantage in trade negotiations.



Earlier this week, <a href="https://www.benzinga.com/25/05/45193766/france-and-eu-lure-us-researchers-with-nearly-567-million-incentives-amid-trumps-academic-funding-cuts">France and the EU offered incentives</a> worth millions to attract U.S. researchers in response to academic funding cuts in the U.S.



Vance&#8217;s recent remarks may be seen as an attempt to mend fences and strengthen ties between the US and Europe amid these challenges. Also, European Trade Commissioner Maros Sefcovic stated on Wednesday that the European Union's executive arm will provide more details on its proposed countermeasures to President Donald Trump&#8216;s tariffs in an update scheduled for Thursday.



<ul>
<li>READ MORE:&nbsp;<a href="https://benzinga.com/25/05/45275169/ethereum-stagnant-after-pectra-upgrade-but-analyst-deems-the-overhaul-tailwind-that-could-power-eth-above-2000" target="_blank" rel="noreferrer noopener">Ethereum Flat After Pectra Upgrade, But Analyst Foresees Overhaul &#8216;Tailwind&#8217; That Could Take ETH Above $2,000 &#8211; Benzinga</a></li>
</ul>



Image via Shutterstock



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

Markets

JD Vance Softens Tone, Says US And Europe Are On 'Same Team,' Calls Divide Talk 'Completely Ridiculous' Ahead Of EU Tariff Response

U.S. stock futures rose on Thursday after two days of advance on Wednesday. Futures of major benchmark indices were higher in premarket.



This followed the Federal Reserve&#8217;s <a href="https://www.benzinga.com/government/regulations/25/05/45266366/powell-flags-sharp-tariff-shock-elevated-uncertainty-fed-sticks-to-wait-and-see-mode">decision to hold the interest rate</a> steady at 4.25% to 4.5% on Wednesday. 



"The tariff increases announced so far have been significantly larger than anticipated," Fed Chair Jerome Powell said.



He noted that if the tariffs are sustained, they could lead to higher inflation, weaker growth, and a rise in unemployment, directly undermining the Fed&#8217;s dual mandate.



"We don&#8217;t think we need to be in a hurry. We are going to be watching the data. It may move quickly or slowly. But we&#8217;re well-positioned to wait," he said.



Meanwhile, the 10-year Treasury bond yielded 4.31% and the two-year bond was at 3.82%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections show markets pricing a 79.8% likelihood of the Federal Reserve keeping the current interest rates unchanged in its June meeting.



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Dow Jones</td><td>0.72%</td></tr><tr><td>S&amp;P 500</td><td>0.94%</td></tr><tr><td>Nasdaq 100</td><td>1.38%</td></tr><tr><td>Russell 2000</td><td>1.31%</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, rose in premarket on Thursday. The SPY was up 1.14% to $567.54, while the QQQ advanced 1.51% to $490.61, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From Last Session:



Leading the gains among sectors in the S&amp;P 500 on Wednesday were health care, consumer discretionary, and information technology stocks, as most sectors closed positively.



Bucking this trend were communication services and materials stocks, which finished the session lower.



In company news, Uber Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) reported first-quarter revenue that fell short of expectations, while Walt Disney Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) announced positive fiscal second-quarter 2025 results on Wednesday.



On the economic front, U.S. mortgage application volumes saw an 11% increase from the prior week for the week ending May 2nd.



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>0.27%</td><td>17,738.16</td></tr><tr><td>S&amp;P 500</td><td>0.43%</td><td>5,631.28</td></tr><tr><td>Dow Jones</td><td>0.70%</td><td>41,113.97</td></tr><tr><td>Russell 2000</td><td>0.33%</td><td>1,989.66</td></tr></tbody></table></figure>



Insights From Analysts:



Sharing a<a href="https://www.benzinga.com/general/market-summary/25/05/45278334/sp-500-chart-indicates-adding-long-positions-as-expert-says-market-has-found-its-balance?utm_campaign=Watchlist&amp;utm_source=Benzinga&amp;utm_medium=Email"> 10-year S&amp;P 500 chart</a> on X, Jurrien Timmer, Director of Global Macro at Fidelity Investments, offered a simple yet thought-provoking approach to navigating uncertainty.



He suggested considering whether to take a long or short position based on the index&#8217;s historical performance. Analyzing the technical patterns, Timmer concluded that establishing or increasing &#8220;long&#8221; positions appeared to be the more favorable strategy.



Timmer stated that the S&amp;P 500 appears to have gravitated back to this long-term uptrend line. This convergence, according to Timmer, suggests that the &#8220;market has found its balance.&#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">At times of uncertainty, I find it useful to pull up a simple chart of the S&amp;P 500 and ask myself: do I want to be long or short this chart? Different people will come up with different answers, but for me the chart below suggests "long." We have a rising uptrend line and a… <a href="https://t.co/DsLOxYz6sn">pic.twitter.com/DsLOxYz6sn</a>&mdash; Jurrien Timmer (@TimmerFidelity) <a href="https://twitter.com/TimmerFidelity/status/1920148872690532867?ref_src=twsrc%5Etfw">May 7, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Scott Wren, the senior global market strategist at Wells Fargo, stated in his weekly note that &#8220;Further near-term upside in the S&amp;P 500 Index is likely limited, and we expect to see more downside volatility before the tariff uncertainties are resolved.&#8221;



According to Wren, central bankers keep telling us they are "data dependent." That means Chair Powell and the other voting Federal Open Market Committee members need to see the data that tells the Federal Reserve the labor environment is weak and/or inflation readings are coming down consistently.



&#8220;In the meantime, we are looking into 2026 and seeing an economic and earnings recovery. For now, while volatility remains the likely headline, we prefer to focus on quality, like large- and mid-cap U.S. equities, and favor the Energy, Communication Services, Information Technology, and Financials sectors,&#8221; he added.



Upcoming Economic Data



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



<ul>
<li>Initial jobless claims for the week ended May 3 and U.S. productivity data for the first quarter will be released by 8:30 a.m. ET.</li>
</ul>



<ul>
<li>March&#8217;s wholesale inventories data will be out by 10:00 a.m. ET.</li>
</ul>



Stocks In Focus:



<ul>
<li>US Foods Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USFD#NYSE">USFD</a>) fell 0.17% in premarket on Thursday as it is expected to report earnings before the opening bell. Analysts expect a quarterly earnings of 69 cents per share on revenue of $9.38 billion.</li>



<li>ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>) was up 1.35% as Wall Street expects it to report earnings of 50 cents per share on revenue of $11.62 billion before the opening bell.</li>



<li>Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) jumped 4.53% as it is expected to report earnings before the opening bell. Analysts expect a quarterly earnings of 69 cents per share on revenue of $9.38 billion.</li>



<li>Anheuser-Busch Inbev SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>) rose 2.55% after reporting a 7.9% increase in operating profit for the first quarter, also topping market estimates.</li>



<li>Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) dropped 9.31% after posting a wider-than-expected loss for the first quarter after the closing bell on Wednesday. The company also said it expects full-year 2025 steel unit cost reductions of approximately $50 per net ton compared to the prior year.</li>



<li>Digital Ally Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DGLY#NASDAQ">DGLY</a>) jumped 64.49% after it received a positive determination from the Nasdaq Hearings Panel regarding its continued listing on the Nasdaq Stock Market.</li>



<li>Costamare Bulkers Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMDB#NYSE">CMDB</a>) zoomed 40.27%, announced today that it has completed the spin-off of its dry bulk business into a standalone public company, Costamare Bulkers Holdings Ltd.</li>



<li>Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) was 0.82% higher after China Airlines announced an order including Boeing 777X passenger and freighter models.</li>



<li>Asset Entities Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASST#NASDAQ">ASST</a>) skyrocketed 54.57% after it entered into a definitive merger agreement with Strive Asset Management, a subsidiary of Strive Enterprises, Inc.</li>



<li>Beyond Meat Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BYND#NASDAQ">BYND</a>) declined 2.36% after missing analysts&#8217; expectations during the first quarter.</li>



<li>Carvana Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>) jumped 4.21% after the company reported better-than-expected results during the first quarter.</li>
</ul>



Commodities, Gold, And Global Equity Markets:



Crude oil futures were trading higher in the early New York session by 1.10% to hover around $58.71 per barrel.



Gold Spot US Dollar fell 0.77% to hover around $3,338.64 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was higher by 0.45% at the 100.0640 level.



Asian markets ended higher on Wednesday except India's S&amp;P BSE Sensex. On the other hand, Japan's Nikkei 225, Australia's ASX 200, China&#8217;s CSI 300, Hong Kong's Hang Seng, and South Korea's Kospi index rose. European markets were mixed in early trade.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/general/market-summary/25/05/45251508/warren-buffett-falls-behind-nancy-pelosi-in-stock-market-returns-over-the-last-11-years-heres-what-data-shows">Warren Buffett Falls Behind Nancy Pelosi In Stock Market Returns Over The Last 11 Years: Here&#8217;s What Data Shows</a></li>
</ul>



Photo courtesy: Shutterstock

Market Summary

Futures

Technicals

Federal Reserve

Pre-Market Outlook

ASST

BYND

CMDB

COIN

CVNA

DGLY

UBER

USFD

US Stocks Likely To Open Higher After Two Days Of Advance: 'Market Has Found Its Balance,' Says Expert Citing S&P 500's Technical Analysis

In a recent nonpartisan analysis, it was revealed that millions of Americans stand to lose their Medicaid health insurance coverage. This is a result of several proposals by Republican Congress members aimed at reducing spending to back President Donald Trump&#8216;s&nbsp;tax cuts and domestic policy&nbsp;agenda.



What Happened: The Congressional Budget Office (CBO) performed an analysis at the request of Sen. Ron Wyden (D-Oregon) and Rep. Frank Pallone (D-N.J.) The analysis disclosed that millions could lose Medicaid coverage under different proposals put forth by Congressional Republicans.



The CBO analyzed five scenarios reportedly considered by Republicans, estimating Medicaid coverage losses between 2.3 million and 8.6 million people. The proposals include reducing federal funding for states that expanded Medicaid under the Affordable Care Act, a move that could save $710 billion but would eliminate coverage for 5.5 million enrollees by 2034. Out of that, 2.4 million will be left without health insurance.



Another proposal involves eliminating state provider taxes, which, according to the CBO, would save the federal government $668 billion but result in 8.6 million people losing Medicaid coverage. It would result in 3.9 million more people being uninsured by 2034.



Notably, Wyden and Pallone did not request a CBO analysis of a proposed Medicaid work requirement for non-disabled enrollees, which House Speaker Mike Johnson says is still under consideration. Republicans have also suggested more frequent eligibility checks and cutting coverage for noncitizens, <a href="https://www.usatoday.com/story/money/2025/05/07/cbo-millions-americans-lose-medicaid-coverage/83495422007/">reported </a>USA Today. 



Supporters argue that a work requirement would encourage employment and reduce taxpayer costs, with a 2023 CBO estimate projecting $109 billion in savings over ten years.



SEE ALSO:&nbsp;<a href="https://benzinga.com/news/25/05/45239391/grant-cardone-says-america-about-to-have-greatest-resurgence-in-its-250-year-history-thanks-trump-for-encour" target="_blank" rel="noreferrer noopener">Grant Cardone Says, &#8216;America About To Have Greatest Resurgence In Its 250-Year History,&#8217; Thanks Trump For Encouraging Big Tech To Come Home</a>



Why It Matters: President Donald Trump had previously stated in an interview with&nbsp;TIME Magazine&nbsp;that he would <a href="https://www.benzinga.com/government/25/04/45064937/donald-trump-threatens-to-veto-any-gop-bill-that-touches-medicaid-or-social-security-if-it-cuts-it-i-would-not-approve">veto any bill</a> that trims Social Security or federal health programs, including Medicaid. 



Meanwhile, Rep. Don Bacon (R-Neb.) had <a href="https://www.benzinga.com/markets/25/04/45092912/don-bacon-supports-500b-medicaid-cuts-proposal-including-annual-eligibility-audits-to-preserve-2017-tax-c">expressed his support</a> for $500 billion in Medicaid cuts. This comes as congressional Republicans are striving to preserve the 2017 Tax Cuts and Jobs Act. The proposed cuts include imposing work requirements for able-bodied adults without children, removing undocumented migrants from Medicaid coverage, and requiring annual audits to ensure only eligible individuals receive Medicaid.



However, on Tuesday, House Speaker Mike Johnson stated that Republicans have ruled out cutting federal funding to states that expanded Medicaid and seemed disinclined to support per-capita caps for those states.



<ul>
<li>READ MORE:&nbsp;<a href="https://benzinga.com/25/05/45241136/jeff-bezos-says-he-won-the-lottery-with-his-teen-mom-she-had-him-at-17-took-him-to-night-school-then-invested-her" target="_blank" rel="noreferrer noopener">Jeff Bezos Says He &#8216;Won the Lottery&#8217; With His Teen Mom—She Had Him at 17, Took Him to Night School, Then Invested Her $245K Savings In Amazon</a></li>
</ul>



Image via Shutterstock



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

Over 5 Million Americans Risk Losing Health Coverage By 2034 Amid Proposed GOP Medicaid Cuts, CBO Finds

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



U.S. stocks settled higher on Wednesday, with the Dow Jones index gaining more than 250 points during the session following the interest-rate decision from the Federal Reserve.



The US central bank kept interest rates unchanged, but warned of macroeconomic dangers from President Donald Trump's tariff moves.



Uber Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) reported weaker-than-expected revenue for the first quarter on Wednesday. Walt Disney Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) reported upbeat fiscal second-quarter 2025 results on Wednesday.



On the economic data front, U.S. mortgage application volumes climbed by 11% from the previous week during the week ending May 2.



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



The Dow Jones closed higher by around 285 points to 41,113.97 on Wednesday. The S&amp;P 500 rose 0.43% to 5,631.28, while the Nasdaq Composite gained 0.27% to 17,738.16 during Wednesday's session.



Investors are awaiting earnings results from US Foods Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USFD#NYSE">USFD</a>), ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>), and Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) today.



What is CNN Business Fear &amp; Greed Index?



At a current reading of 56.4, the index was in the &#8220;Greed&#8221; zone on Wednesday, versus a prior reading of 55.



The Fear &amp; Greed Index is a measure of the current market sentiment. It is based



&nbsp;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>
<li><a href="https://www.benzinga.com/25/05/45250672/wall-streets-most-accurate-analysts-give-their-take-on-3-industrials-stocks-delivering-high-dividend-yields">Wall Street&#8217;s Most Accurate Analysts Give Their Take On 3 Industrials Stocks Delivering High-Dividend Yields</a> </li>
</ul>



Photo courtesy: Shutterstock

Dow Surges Over 250 Points Following Fed Decision: Investor Sentiment Improves, Fear Index In 'Greed' Zone

Leading cryptocurrencies traded sideways on Wednesday, as the Federal Reserve <a href="https://www.benzinga.com/government/regulations/25/05/45266366/powell-flags-sharp-tariff-shock-elevated-uncertainty-fed-sticks-to-wait-and-see-mode">warned of macroeconomic dangers</a> from President Donald Trump&#8217;s tariff moves.



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 9:00 p.m. ET)</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>+0.53%</td><td>$98,018.94</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>-0.89%</td><td>$1,830.59</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>-0.88%</td><td>$0.1721</td></tr></tbody></table></figure>



What Happened: Bitcoin encountered tough resistance in the mid-$97,000s throughout the day before breaking the barrier overnight and recovering $98,000 for the first time since Feb. 21.



Bitcoin's market dominance rose to a yearly high of 64.4%, signaling continued capital rotation from other assets to the apex cryptocurrency.



Ethereum recovered after falling to an intraday low of $1,788.69 in a turbulent trading session that saw volume soar up to 220%.



Over $184 million was liquidated from the cryptocurrency market in the last 24 hours, with bearish bets accounting for the majority.



Bitcoin's Open Interest dropped marginally by 0.78% in the last 24 hours. Interestingly, over 63% of the Bitcoin derivatives traders on Binance bet against the leading cryptocurrency.



The "Greed" sentiment prevailed in the market, according to the Crypto Fear and Greed Index.



Top Gainers (24-Hours)



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:30 p.m. ET)</td></tr><tr><td>Eos (EOS)</td><td>+16.78%</td><td>$0.8168</td></tr><tr><td>Stacks (STX)</td><td>+9.62%</td><td>$0.892</td></tr><tr><td>Zcash (ZEC)</td><td>+5.10%</td><td>$40.32</td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3 trillion, following a 0.20% contraction in the last 24 hours.



Stocks staged a pullback on Wednesday. The Dow Jones Industrial Average rose 284.97 points, or 0.70%, to end at 41,113.97. The S&amp;P 500 gained 0.43% to close at 5,631.28, while the tech-focused Nasdaq Composite spiked 0.27%, ending at 17,738.16.



Fed Chair Jerome Powell flagged concerns that Trump's tariff measures could lead to higher inflation, weaker growth, and a rise in unemployment. This came after the central bank&#8217;s widely predicted decision to maintain interest rates at 4.25%-4.50%.



Additionally, shares of Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) climbed late in the day on reports that the Trump administration plans to <a href="https://www.benzinga.com/news/global/25/05/45269811/chip-stocks-rise-as-trump-reportedly-plans-to-roll-back-biden-era-ai-export-curbs">scrap Biden-era AI chip curbs</a>.



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



Analyst Notes: Cryptocurrency analyst Rekt Capital stated that the altseason, which occurs when altcoins outperform Bitcoin in price gains, would begin once Bitcoin dominance hits the 71% ceiling, about 6% away from current value.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> Dominance If history repeats, the real Altseason everybody is waiting for would begin once Bitcoin Dominance rejects from 71% (red) And right now, 71% is only ~6% away<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Altseason?src=hash&amp;ref_src=twsrc%5Etfw">#Altseason</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/29vBkhA5aj">pic.twitter.com/29vBkhA5aj</a>&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1920102471851995590?ref_src=twsrc%5Etfw">May 7, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Cryptocurrency expert and trader Michaël van de Poppe expressed optimism in Ethereum&#8217;s short-term prospects, stating that the cryptocurrency was holding above a &#8220;crucial&#8221; level.



"I think we&#8217;ll be about to witness a big breakout to $2,100 in the coming 1-2 weeks," the analyst said.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> is hodling above the crucial level and starts to bounce upwards. I think we&#39;ll be about to witness a big breakout to $2,100 in the coming 1-2 weeks. <a href="https://t.co/p10vYV6ueX">pic.twitter.com/p10vYV6ueX</a>&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1920059784788918717?ref_src=twsrc%5Etfw">May 7, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo Courtesy: alfernec on Shutterstock.com



Read Next:    



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45262012/treasury-sec-scott-bessent-us-should-be-the-premier-destination-for-digital-assets">Treasury Sec Scott Bessent: US Should Be The &#8216;Premier Destination For Digital Assets&#8217;</a></li>
</ul>

NVDA

Bitcoin Taps $98,000, Ethereum, Dogecoin Steady As Fed Chair Jerome Powell Raises Trump Tariff-Induced Concerns: Analyst Says ETH Holding Above 'Crucial Level' And Begins Its 'Bounce Upwards'

Countries facing U.S. tariffs are reportedly increasingly granting licenses and approvals to Elon Musk's Starlink — the satellite internet arm of SpaceX — as part of efforts to smooth trade relations with the Donald Trump administration.



What Happened: For example, just weeks after Trump announced a 50% tariff on goods from Lesotho, the small African nation approved Starlink's first-ever satellite internet license, set to last 10 years, <a href="https://www.washingtonpost.com/business/2025/05/07/elon-musk-starlink-trump-tariffs/?utm_campaign=wp_main&amp;utm_source=facebook,twitter&amp;utm_medium=social">reported</a> the Washington Post.&nbsp;



According to internal State Department cables obtained by the publication, Lesotho hoped the decision would "demonstrate goodwill and intent to welcome U.S. businesses" as it negotiated trade deals.



Lesotho isn't alone. Countries like India, Cambodia, Somalia, Bangladesh, Pakistan, Vietnam, and the Democratic Republic of Congo have also made <a href="https://www.benzinga.com/markets/25/03/44487526/elon-musks-starlink-gains-green-light-in-vietnam-to-begin-satellite-internet-service-trial">moves to accommodate</a> Starlink, often during or after trade talks.



See Also: <a href="https://www.benzinga.com/general/space/25/05/45163320/as-elon-musks-spacex-adds-28-starlinks-research-flags-climate-impact-from-deorbiting-satellites">As Elon Musk&#8217;s SpaceX Adds 28 Starlinks, Research Flags Climate Impact From Deorbiting Satellites</a>



In India, two sources familiar with the matter told the publication that <a href="https://www.benzinga.com/general/space/25/03/44244377/elon-musks-spacex-partners-with-airtel-to-launch-starlink-in-india-weeks-after-pm-narendra-modis-us-visit">Starlink approvals</a> were sped up in part because local officials believed it would help cement a broader trade deal with Washington.



While the U.S. government has not explicitly demanded regulatory favors for Starlink in exchange for lower tariffs, the cables show that Secretary of State Marco Rubio has instructed diplomats worldwide to advocate for American satellite companies, with Starlink often named directly, the report added.



This is part of the administration's efforts to counter Chinese and Russian telecom providers.



&#8220;The only consideration in the Trump administration's trade negotiations with other countries is what's best for the American people — which includes American companies succeeding at home and abroad,&#8221; White House spokesperson Kush Desai told the publication. &#8220;President Trump will not tolerate any conflicts of interest, and every administration official is following ethical guidelines set by their respective agencies.&#8221;



Why It's Important: Musk has contributed $277 million to Trump's campaign and other Republican candidates during last year's election cycle.



The Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO also holds a position within the administration, overseeing the Department of Government Efficiency Service, although he has indicated plans to <a href="https://www.benzinga.com/news/management/25/05/45140155/musk-shifts-focus-back-to-tesla-says-doge-will-endure-without-him-is-buddha-needed-for-buddhism">step back from his day-to-day management role</a>.



Starlink has reached 5 million customers as of March. The explosive growth of Starlink has played a major role in propelling SpaceX's valuation to an estimated $350 billion as of December 2024, making it the most valuable privately held company in the world.



Despite this surge, some industry analysts remain cautious, questioning whether the company's sky-high <a href="https://www.benzinga.com/25/04/44731833/starlinks-challenges-poses-threat-to-the-high-valuation-of-elon-musks-spacex-report">valuation can be sustained</a> over the long term.



Read Next:



<ul>
<li><a href="https://benzinga.com/25/04/44710082/trumps-liberation-day-tariffs-wipe-out-174-billion-from-the-net-worth-of-worlds-top-10-billionaires-including-war" target="_blank" rel="noreferrer noopener">Trump's Tariff Turmoil Topples Ultra-Rich's Wealth — $174B Wiped Out From Fortunes Of World's Top 10 Billionaires, Including Elon Musk, Warren Buffett And Mark Zuckerberg</a></li>
</ul>



Photo Courtesy: RossHelen On Shutterstock.com



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

Government

Media

TSLA

Trump Tariff Pressure Reportedly Opens Global Doors For Elon Musk's Starlink As Nations Rush To Show 'Goodwill'

On Wednesday, Cathie Wood&#8216;s Ark Invest made notable trades involving Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>), and Tempus AI Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEM#NASDAQ">TEM</a>). These trades reflect Ark&#8217;s ongoing strategy to adjust its portfolio in response to market dynamics and company performance.



The Nvidia Trade saw Ark Invest making significant purchases of the Jensen-Huang-led tech giant. shares across its ARK Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#BATS">ARKK</a>), ARK Autonomous Technology &amp; Robotics ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKQ#BATS">ARKQ</a>), ARK Next Generation Internet ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#BATS">ARKW</a>), and ARK Fintech Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#BATS">ARKF</a>). NVIDIA, a leader in AI and graphics processing, has been experiencing a surge in its stock value, partially driven by <a href="https://www.benzinga.com/news/earnings/25/04/45121790/nvidia-stock-surges-after-hours-whats-going-on">strong earnings</a> from tech giants like Microsoft Corp and Meta Platforms Inc. On Wednesday, Ark Invest acquired 64,838 shares in ARKK, 11,464 shares in ARKQ, and 19,645 shares in ARKW. The firm also picked up 11,714 shares through ARKF. With NVIDIA&#8217;s stock closing at $117.06, the total value of these purchases is approximately $12.6 million. 



The AMD Trade involved Ark Invest buying shares of the chipmaker across multiple ETFs, including ARKK, ARKQ, ARKW, and ARKX. AMD has been gaining traction in the data center and AI chip markets, buoyed by a <a href="https://www.benzinga.com/markets/equities/25/05/45244462/amazon-acquires-844-million-stake-in-amd-amid-ai-chip-expansion">recent strategic investment</a> from Amazon.com Inc. On Wednesday, Ark Invest purchased 74,648 shares in ARKK, 13,198 shares in ARKQ, 22,617 shares in ARKW, and 4,118 shares in ARKX. With AMD&#8217;s stock closing at $100.36, the total value of these acquisitions is approximately $11.5 million. 



The Palantir Trade saw Ark Invest reducing its stake in the Alex Karp-led company across several ETFs, including ARKF, ARKK, ARKQ, ARKW, and ARK Space Exploration &amp; Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKX#BATS">ARKX</a>). Despite Palantir&#8217;s strong first-quarter earnings, its stock has <a href="https://www.benzinga.com/25/05/45242668/cathie-wood-sells-41-million-worth-of-palantir-shares-following-post-earnings-plunge">faced downward pressure</a>. On Wednesday, Ark Invest sold 12,217 shares in ARKF, 270,498 shares in ARKK, 23,914 shares in ARKQ, 3,731 shares in ARKX, and 40,980 shares in ARKW. With Palantir&#8217;s stock closing at $110.48, the total value of these sales is approximately $38.8 million. Notably, Wood had <a href="https://www.benzinga.com/25/05/45242668/cathie-wood-sells-41-million-worth-of-palantir-shares-following-post-earnings-plunge">sold $41 million</a> worth of Palantir shares on Tuesday. Palantir is now Ark's fifth-largest holding, making up 6.62% of the portfolio with a total value of $324.4 million.



The Tempus AI Trade involved Ark Invest purchasing shares of the company through its ARKK ETF. Tempus AI, a company focused on precision medicine, recently reported strong first-quarter results, leading to a surge in its stock price. On Wednesday, Ark Invest acquired 75,020 shares of Tempus AI. With the stock closing at $58.76, the total value of this purchase is approximately $4.4 million. Tempus AI&#8217;s performance has been promising, with the company&#8217;s <a href="https://www.benzinga.com/general/health-care/25/05/45238450/tempus-ai-q1-earnings-revenue-beat-eps-beat-raised-fy-guidance-shares-surge">first-quarter revenue</a> coming in at $255.74 million, beating estimates of $248.13 million.



Other Key Trades:



<ul>
<li>Ark Invest bought shares of CRISPR Therapeutics AG in ARKK and ARKG.</li>



<li>Ark Invest sold shares of Arcturus Therapeutics Holdings Inc. in ARKG.</li>



<li>Ark Invest acquired shares of GitLab Inc. in ARKK.</li>
</ul>



AMD or Nvidia? Make decisions like that easier by getting the full picture. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here</a> to check out Benzinga Edge Stock Rankings



<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="438" height="281" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/07221135/Screenshot-2025-05-08-at-11.11.15.png" alt="" class="wp-image-906946" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/07221135/Screenshot-2025-05-08-at-11.11.15.png 438w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/07221135/Screenshot-2025-05-08-at-11.11.15-300x192.png 300w" sizes="(max-width: 438px) 100vw, 438px" /></a></figure>



Photo Courtesy: viewimage on Shutterstock.com



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<li><a href="https://benzinga.com/markets/cannabis/21/06/21541737/exclusive-jordan-tishler-md-talks-about-medical-cannabis-success-rates-side-effects-and-that-it-" target="_blank" rel="noreferrer noopener">EXCLUSIVE: Jordan Tishler, MD Talks About Medical Cannabis, Success Rates, Side Effects And That It Should Be A Specialty Field Of Its Own &#8211; Benzinga</a></li>
</ul>



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

ARKF

ARKK

ARKQ

ARKW

ARKX

PLTR

Cathie Wood Strengthens AI Chip Holdings With Nvidia And AMD Purchases, Reduces Palantir Position By Another $38.8 Million

Federal Reserve Chair Jerome Powell warned Wednesday that the step increases in tariffs announced by President Donald Trump last month has introduced &#8220;a great deal of uncertainty&#8221; <a href="https://www.benzinga.com/news/econ-s">into the U.S. economic outlook.</a>



Addressing reporters after the May Federal Open Market Committee meeting, the Fed Chair hinted that the central bank is increasingly concerned about rising risks to both of its congressional mandates: maximum employment and stable prices.



&#8220;The tariff increases announced so far have been significantly larger than anticipated,&#8221; Powell said. 



He noted that if the tariffs are sustained, they could lead to higher inflation, weaker growth, and a rise in unemployment—directly undermining the Fed's dual mandate.



<h3 class="wp-block-heading">This Is Not 2019</h3>



Powell underscored that monetary policy is now in a "good place" to remain on hold as the Fed awaits further clarity on how recent developments—including aggressive trade policy shifts—will affect the economy.



&#8220;We don't think we need to be in a hurry. We are going to be watching the data. It may move quickly or slowly. But we're well positioned to wait,&#8221; he said.



&#8220;We are in a good place to wait and see,&#8221; he added.



This marks a shift from past Fed playbooks to tariffs, notably during the 2019 trade war, when the Fed moved preemptively to cut rates amid tariff shocks and weaker inflation. 



&#8220;During the prior trade war of 2019 we did cut three times. We had a weakening economy and inflation at 1.6%.&#8221;



Yet, Powell made it clear that this is not 2019. Inflation has now run above the Fed's 2% target for four consecutive years, limiting the central bank's flexibility to respond aggressively to weakening economic conditions without risking price instability.



<h3 class="wp-block-heading">Twin Risks: Inflation and Unemployment Both Creep Higher</h3>



Adding new language to its policy statement, the FOMC acknowledged that &#8220;risks of higher unemployment and higher inflation have risen,&#8221; a rare dual warning that reflects the unpredictable outcomes of supply-side shocks like tariffs.



Powell indicated that the economy could enter a situation where the Fed's two goals are "in tension," stating: "We'd have to look at how far each variable is from its goal and make a difficult judgment."



While Powell declined to publish an official recession probability, he admitted that downside risks have increased, though they are not yet visible in the current data.



"We don't see [the risks] materializing in the data yet, but that could change," he said.



<h3 class="wp-block-heading">Powell Dodged Questions On Trump</h3>



Although Powell avoided direct confrontation with Trump, who has vocally demanded lower rates and signaled he would not reappoint Powell if reelected, he reiterated the Fed's independence. 



Asked about any meetings with the president, Powell replied: "I have never asked for a meeting with any president and I never will."



Asking whether potential tax cuts could further jeopardize U.S. fiscal sustainability, Powell replied: &#8220;I think they don&#8217;t need my advice and our advice on how to do fiscal policy. Any more than we need their advice on monetary policy.&#8221;



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



Market expectations for a June rate cut dipped to 23% following the Fed Chair&#8217;s press conference, down from 28% earlier in the session.



Traders now assign a 72% probability to a 25-basis-point decrease in July, with a rate reduction nearly fully priced in by September, as per the CME FedWatch tool.



The S&amp;P 500 reversed earlier losses after a major post-Powell development: reports surfaced that Trump plans to rescind global chip export restrictions amid a broader debate on AI-related curbs. 



Officials are reportedly preparing to roll back the AI diffusion rule introduced during the Biden administration.



Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) surged 2.4% to $116 on the news, helping lift the broader market. The S&amp;P 500 rose 0.5%, finishing the day at 5,629 points.



Read now: 



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45262012/treasury-sec-scott-bessent-us-should-be-the-premier-destination-for-digital-assets">Treasury Sec Scott Bessent: US Should Be The &#8216;Premier Destination For Digital Assets&#8217;</a></li>
</ul>



Photo: Shutterstock

Regulations

Powell Flags Sharp Tariff Shock, Elevated Uncertainty: Fed Sticks To  'Wait-And-See' Mode

Applovin Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) reported financial results for the first quarter after the market close on Wednesday. Here&#8217;s a look at the key details <a href="https://www.benzinga.com/pressreleases/25/05/b45266259/applovin-announces-first-quarter-2025-financial-results">from the report</a>.



Q1 Earnings: AppLovin reported first-quarter revenue of $1.48 billion, beating analyst&nbsp;<a href="http://benzinga.com/quote/app/earnings" target="_blank" rel="noreferrer noopener">estimates</a>&nbsp;of $1.38 billion, according to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>. The company reported first-quarter earnings of $1.67 per share, beating analyst estimates of $1.45 per share.



Total revenue was up 40% year-over-year. Advertising revenue grew 71% year-over-year, while Apps revenue declined 14%. Cash flow from operations was $832 million in the quarter and free cash flow came in at $826 million. Applovin ended the quarter with approximately $551 million in cash and cash equivalents.



AppLovin also announced that it entered into a definitive agreement to sell its mobile gaming business to privately held Tripledot Studios for $400 million in cash, combined with a 20% ownership stake in Tripledot. The transaction is expected to close in the second quarter.



Outlook: AppLovin expects second-quarter advertising revenue in the range of $1.195 billion to $1.215 billion. The company anticipates second-quarter advertising adjusted EBITDA of $970 million to $990 million.



AppLovin executives will further discuss the quarter on a conference call with investors and analysts at 5 p.m. ET.



APP Price Action: <a href="http://benzinga.com/quote/app" target="_blank" rel="noreferrer noopener">Applovin shares</a> were trading lower before the <a href="https://www.benzinga.com/25/05/45264550/muddy-waters-doubles-down-on-applovin-in-new-short-report-ahead-of-q1-earnings">short report</a> from Muddy Waters Research. The stock was up 17.32% in Wednesday&#8217;s after-hours session, trading at $355.320 at the time of publication, according to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.



Read Next:



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<li><a href="https://www.benzinga.com/25/05/45264550/muddy-waters-doubles-down-on-applovin-in-new-short-report-ahead-of-q1-earnings">Muddy Waters Doubles Down On AppLovin In New Short Report Ahead Of Q1 Earnings</a></li>
</ul>



Photo: <a href="https://www.shutterstock.com/g/Piotr+Swat">Piotr Swat</a>/Shutterstock.

Short Sellers

AppLovin Stock Shakes Off Short Seller Report, Shares Surge On Q1 Earnings Beat

Movie theater company AMC Entertainment Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) reported first-quarter financial results<a href="https://www.benzinga.com/earnings"> after market close.</a>



Here are the highlights.



What Happened: AMC reported first-quarter revenue of $862.5 million, down 9.3% year-over-year. The total beat a Street consensus estimate of $837.1 million according to data <a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0507">from Benzinga Pro.</a>



The company reported an adjusted loss of 58 cents per share for the quarter, beating a Street consensus estimate of a loss of 59 cents per share.



"Anyone trying to draw any conclusions about the success or appeal of movie theaters from the results of the first quarter of 2025 is likely to be mistaken, because the industrywide domestic box office in Q1 was in our view a distorting anomaly that has already corrected itself," AMC CEO Adam Aron said.



Aron said the company grew per-patron operating metrics, including an all-time first quarter record for U.S. admissions revenue per patron. The AMC CEO highlighted the success of programs like AMC Stubs loyalty and the A-List subscription programs in the quarter.



Total attendance was 41.9 million in the first quarter, down 10.1% year-over-year. U.S. attendance was 26.9 million, down 11.8% year-over-year, while international attendance of 15.0 million was down 7.1% year-over-year.



AMC ended the first quarter with $378.7 million in cash.



Read Also: <a href="https://www.benzinga.com/general/entertainment/24/12/42750888/top-anticipated-2025-movies-for-big-screen-success-and-stocks-investors-should-watch">Top Anticipated 2025 Movies For Big Screen Success And Stocks Investors Should Watch</a>



 What's Next: Aron highlighted the future growth for AMC and the movie theater sector with a strong lineup of blockbusters in 2025 and 2026, echoing comments from past years.



"We continue to believe that moviegoing demand for the balance of 2025 and all of 2026 will show great strength," Aron said.



While the first three months of 2025 were the lowest box office totals since 1996, excluding the Covid-impacted years, Aron said the turnaround started in April 2025.



"Since April 1, movie theater demand has been booming. The April 2025 industry-wide domestic box office was double that of April 2024."



Aron said May is currently pacing at double the rate of a year ago.



"AMC is playing on offense again," Aron added, when highlighting the company's investments in more premium theaters.



Aron predicts that AMC can continue to recover from the challenges of recent years.



"We are optimistic that we will get done what needs to be done, and that AMC is poised to capture the momentum for a strengthening 2025 and 2026, and what we believe will be an even brighter future beyond."



AMC Price Action: AMC stock is up 1.5% to $2.76 in after-hours trading versus a 52-week trading range of $2.45 to $11.88.



Read Next: 



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<li><a href="https://www.benzinga.com/general/entertainment/24/05/39010959/amc-ceo-says-were-still-here-how-taylor-swift-popcorn-buckets-help-movie-theater-from-going">AMC CEO Says &#8216;We&#8217;re Still Here&#8217;: How Taylor Swift, Popcorn Buckets Help Movie Theater From Going &#8216;Kaplooey&#8217;</a></li>
</ul>



Photo: Shutterstock

Entertainment

AMC Q1 Earnings Highlights: Double Beat, CEO Highlights 2025, 2026 Slate As Box Office Doubles In April

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