When copper prices exploded by more than 13%—marking the <a href="https://www.benzinga.com/markets/equities/25/07/46305321/copper-price-surges-trump-tariffs-stocks-july-2025">biggest single-day gain in history</a>—in response to President Donald Trump&#8216;s latest tariff threat, commodity investors cheered.



But for Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), that chart may as well have been a warning flare. With every Model Y and Cybertruck packing over 180 pounds of copper, the metal's meteoric rise just made building an EV a whole lot pricier.



<h2 class="wp-block-heading">Tesla's Copper Habit Just Got Expensive</h2>



Electric vehicles are copper gluttons. From motors to wiring to battery connectors, the red metal is the unsung hero of electrification. While a traditional gas-powered car uses around 50 pounds of copper, Teslas use more than three times that amount—roughly <a href="https://www.mining.com/new-tesla-low-voltage-system-a-big-deal-for-copper-says-musk/" target="_blank" rel="noreferrer noopener">180 pounds</a> per vehicle.



That makes Elon Musk's production lines especially vulnerable to copper's mood swings. And right now, copper is throwing a tantrum.



Read Also: <a href="https://www.benzinga.com/analyst-stock-ratings/downgrades/25/07/46308347/trumps-big-beautiful-bill-too-much-for-tesla-stock-direct-hit-to-profitability">Trump&#8217;s &#8216;Big Beautiful Bill&#8217; Too Much For Tesla Stock: &#8216;Direct Hit To Profitability&#8217;</a>



<h2 class="wp-block-heading">Blame The Tariff—Or The Speculators?</h2>



Jim Cramer thinks the surge isn't entirely organic. 



<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">The copper tariff is gratuitous. It makes data centers more costly. Of course, it makes a Tesla more expensive to make as it has a huge amount of copper in it. Please let that NOT be the reason for this tariff&#8230;&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1942750426417238077?ref_src=twsrc%5Etfw">July 9, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



He took to X to call the Trump administration's copper tariff "gratuitous," warning it could make both data centers and Teslas more expensive to build. And with AI infrastructure and EVs both guzzling copper like there's no tomorrow, that extra cost has nowhere to hide.



<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">JUST IN &#x1f6a8;: Copper gets a God Candle as it explodes by more than 13% for its biggest gain IN HISTORY &#x1f4c8;&#x1f4c8; <a href="https://t.co/rnj0KrtsZa">pic.twitter.com/rnj0KrtsZa</a>&mdash; Barchart (@Barchart) <a href="https://twitter.com/Barchart/status/1942695893230137579?ref_src=twsrc%5Etfw">July 8, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Meanwhile, traders are calling the surge a "God Candle"—a slang term for an epic breakout, noted Barcharts on X. Whether the move sticks or fizzles, companies like Tesla will feel it first.



<h2 class="wp-block-heading">A Shock To The Supply Chain</h2>



The irony? 



Copper was supposed to be the backbone of the green transition. Now it's threatening the affordability of EVs just as mainstream adoption gains speed. 



Tesla, which has long prided itself on vertical integration and margin control, may soon be forced to make some tough sourcing decisions.



For now, investors might enjoy the heat in copper miners. But Tesla? It's sweating the small stuff—180 pounds of it per car.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/07/46307371/musk-vs-trump-tesla-ceo-is-down-87-billion-in-2025-but-still-worth-49x-more-than-trump-media-trump-coin">Musk Vs. Trump: Tesla CEO Is Down $87 Billion In 2025 But Still Worth 49X More Than Trump Media &amp; Trump Coin</a></li>
</ul>



Photo: Shutterstock

Technicals

Commodities

Markets

Tech

Trading Ideas

TSLA

Tesla Is Getting Burnt By Copper's God Candle

Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) may <a href="https://www.benzinga.com/topic/artificial-intelligence" target="_blank" rel="noreferrer noopener">dominate AI headlines</a>, but JPMorgan's Harlan Sur thinks Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) deserves more credit for building the infrastructure that makes artificial intelligence work.



From cutting-edge XPUs to networking muscle and enterprise software, Broadcom is the "#2 global AI semiconductor supplier" and the top name in custom ASICs, Sur says in a research note.



<h2 class="wp-block-heading">XPUs Built For A Million-Cluster World</h2>



Broadcom's AI strategy centers on its custom AI XPU business, which is firing on all cylinders. Sur highlights the company's collaboration with four AI customers and notes that it's "on track to tape-out first-generation AI XPU products this year."



He believes these customers—including OpenAI—are aiming to build massive AI clusters of "1 million XPU" units, which would place Broadcom at the heart of the AI buildout.



Read Also: <a href="https://www.benzinga.com/markets/tech/25/07/46276421/broadcom-tesla-mag-7-switch-musk-trump-feud">Musk Chaos Could Oust Tesla From Mag 7, Making Way For Broadcom</a>



<h2 class="wp-block-heading">Networking Gains From AI Compute</h2>



AI models require not just computing power but ultra-fast networking. That's where Broadcom's scale-up networking comes in, with 5–10x more dollar content per unit than traditional networks. As Sur puts it, "AI compute workloads continue to drive strong networking demand."



Broadcom's leadership in next-generation interconnects and silicon photonics further cements its position as the go-to vendor for high-performance infrastructure.



<h2 class="wp-block-heading">VMware Is The Sleeper Growth Engine</h2>



Don't overlook the software side. Sur notes VMware's Cloud Foundation (VCF) platform is set to "sustain strong growth until late 2026/2027," with revenues expected to hit $20 billion before settling into mid- to high-single-digit growth.



Despite lower gross margins on custom AI chips, Sur expects Broadcom to keep expanding operating margins due to business leverage. 



Importantly, "the team is focused on reinvesting in the business," says Sur, not chasing distractions like M&amp;A.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/analyst-stock-ratings/downgrades/25/07/46308347/trumps-big-beautiful-bill-too-much-for-tesla-stock-direct-hit-to-profitability">Trump&#8217;s &#8216;Big Beautiful Bill&#8217; Too Much For Tesla Stock: &#8216;Direct Hit To Profitability&#8217;</a></li>
</ul>



Image: Shutterstock

Analyst Color

Equities

Long Ideas

Analyst Ratings

AVGO

NVDA

Nvidia Is The Star―But Broadcom Is The AI Boom's Best-Kept Secret

Cryptocurrency bettors now estimate a 50% possibility that the Federal Reserve will cut interest rates for the first time in 2025 during its September meeting.



What happened: As of this writing, the <a href="https://polymarket.com/dashboards/fed-rates">odds</a> of a 25 basis point cut were at 50% on the decentralized prediction platform Polymarket. On the other hand, the odds that rates will remain unchanged from the current 4.25%-4.50% range were 44%.



The probability of rates going unchanged during the July meeting was 96%.



These bets were roughly consistent with the CME FedWatch tracker, which <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">showed </a>a 95% chance of rates remaining steady in July. For September, traders priced in a 62% chance of a 0.25% rate cut.



Goldman Sachs economists also <a href="https://www.benzinga.com/markets/economic-data/25/07/46188699/goldman-sachs-now-expects-3-fed-rate-cuts-in-2025-amid-weak-jobs-data-modest-trump-tariff-effects">anticipate a rate cut in September</a>, three months earlier than they had previously forecast, due to the lower-than-expected impact of tariffs.



See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/news/topics/25/07/46302822/peter-schiff-says-trumps-tax-cuts-wont-grow-the-economy-instead-he-warns-theyll-lead-to-higher-interest-rates-and-inflation">Peter Schiff Says Trump&#8217;s Tax Cuts &#8216;Won&#8217;t Grow The Economy.&#8217; Instead, He Warns They&#8217;ll Lead To Higher Interest Rates And Inflation</a>



Polymarket, based on Polygon (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">POL</a>), allows users to buy &#8220;Yes&#8221; and &#8220;No&#8221; shares in USDC (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>) stablecoin. The shares representing the correct outcome are paid out $1 USDC each upon market resolution.



The platform is not accessible in the U.S. due to regulatory restrictions.



Why It Matters: The jump in odds comes in the wake of President Donald Trump's escalating criticism of Fed Chair Jerome Powell.



Trump reiterated his call for Powell to &#8220;resign immediately&#8221; and asked for a congressional investigation into allegations that the Fed Chair gave<a href="https://www.benzinga.com/news/politics/25/07/46237506/trump-says-jerome-powell-should-resign-immediately-after-fhfa-director-alleges-fed-chair-lied-about-2-5-billion-renovation-plan"> false information</a> during a Senate Banking Committee testimony.



On monetary policy, Trump <a href="https://www.benzinga.com/news/politics/25/06/46165110/donald-trump-calls-fed-chair-jerome-powell-a-bad-person-who-keeps-rates-artificially-high-says-benchmark-should-drop-by-half">has accused Powell of keeping interest rates &#8220;artificially high&#8221;</a> and argued that the benchmark should be reduced to &#8220;1% or 2%,&#8221; or half of what it is now.



Earlier this month, Powell said that Trump's tariff strategy had <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46213909/jerome-powell-says-trumps-tariffs-deterred-fed-from-easing-monetary-policy-july-decision-to-depend-on-data-wouldnt-take-any-meeting-off-the-table">deterred the Federal Reserve</a> from implementing a more dovish monetary policy.



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/07/46313013/trumps-tariff-letters-spark-high-level-of-uncertainity-and-volatility-says-economist-mohamed-el-erian">Trump&#8217;s Tariff Letters Spark &#8216;High Level Of Uncertainity And Volatility,&#8217; Says Economist Mohamed El-Erian</a><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46148904/donald-trump-says-bitcoin-takes-a-lot-of-pressure-off-the-dollar"> </a></li>
</ul>



Image Credit: Jack Gruber / USA TODAY NETWORK via Imagn Images

News

$POL

$USDC

Polymarket Bettors See 50% Chance Of Fed September Rate Cuts As Trump Turns Up Heat On Powell

U.S. stock futures advanced on Wednesday after ending on a mixed note on Tuesday. Futures of major benchmark indices were trading higher.



President Donald Trump announced a <a href="https://www.benzinga.com/markets/equities/25/07/46305321/copper-price-surges-trump-tariffs-stocks-july-2025">50% tariff on copper imports</a> and confirmed the &#8220;reciprocal&#8221; tariffs, paused in April, will resume on Aug. 1, stating, &#8220;no extensions will be granted&#8221; to countries without finalized deals by that date. 



The 10-year Treasury bond yielded 4.41% and the two-year bond was at 3.90%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool&#8217;s</a> projections show markets pricing a 95.3% likelihood of the Federal Reserve keeping the current interest rates unchanged in its July meeting.



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Dow Jones</td><td>0.20%</td></tr><tr><td>S&amp;P 500</td><td>0.18%</td></tr><tr><td>Nasdaq 100</td><td>0.19%</td></tr><tr><td>Russell 2000</td><td>0.08%</td></tr></tbody></table></figure>



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, were higher in premarket on Wednesday. The SPY was up 0.17% at $621.37, while the QQQ advanced 0.16% to $553.24, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From Last Session:



Energy and materials stocks bucked the overall market trend, closing Tuesday&#8217;s session higher, while most other sectors on the S&amp;P 500 ended negatively.



Consumer staples, utilities, and financial stocks notably recorded the biggest losses.



U.S. stocks settled mostly lower on Tuesday.



Shares of ProKidney Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PROK#NASDAQ">PROK</a>) jumped an impressive 515% on Tuesday. This surge followed the company&#8217;s announcement of statistically and clinically significant topline results from its Phase 2 REGEN-007 trial, which evaluated Rilparencel in patients with chronic kidney disease and diabetes.



On the economic data front, the US Manheim Used Vehicle Value Index saw a 1.6% month-over-month increase for June, a rebound after a 1.4% decline in May. Meanwhile, the NFIB Small Business Optimism Index dipped to 98.6 in June from 98.8 in May, slightly below market estimates of 98.7.



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>0.029%</td><td>20,418.46</td></tr><tr><td>S&amp;P 500</td><td>-0.072%</td><td>6,225.52</td></tr><tr><td>Dow Jones</td><td>-0.37%</td><td>44,240.76</td></tr><tr><td>Russell 2000</td><td>0.66%</td><td>2,228.74</td></tr></tbody></table></figure>



Insights From Analysts:



Jeffrey Buchbinder, the chief equity strategist at LPL Financial, forecasted modest gains for equities in its mid-year outlook.



&#8220;AI-driven capex remains a key tailwind, but tariff-related earnings pressure and elevated valuations may cap upside. Pullbacks should be viewed as selective buying opportunities,&#8221; he said.



LPL's year-end S&amp;P 500 target range was set at 6,000 to 6,100 points, based on $275 in 2026 EPS.



Meanwhile, the senior economist at WisdomTree, Jeremy Siegel, said that &#8220;Equity markets found encouragement, not because employment showed strength, but because it did not show further deterioration.&#8221;



Talking about AI, he said, &#8220;Companies able to leverage AI for productivity gains—particularly in financials and traditional industries—are poised to outperform.&#8221;



Siegel also stated that he will be closely watching for a potential shift in market leadership. &#8220;July has opened strongly for smaller caps, but I believe the stage is set for a longer-lasting rotation.&#8221;



&#8220;If users begin to invest in cost-saving technologies under the pressure of higher tariffs or wage costs, value could finally have its day,&#8221; he added.



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



Upcoming Economic Data



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



<ul class="wp-block-list">
<li>The wholesale inventories data will be out by 10:00 a.m. ET.</li>



<li>Minutes of the Fed&#8217;s May FOMC meeting will be released by 2:00 p.m. ET.</li>
</ul>



Stocks In Focus:



<ul class="wp-block-list">
<li>Entero Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENTO#NASDAQ">ENTO</a>) surged 57.84% after regaining Nasdaq compliance following its annual meeting.</li>



<li>Calidi Biotherapeutics Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLDI#NYSE">CLDI</a>) zoomed 50.57% after it announced the development of a precision genetic medicine platform for cancer treatment. Its innovative approach focuses on using engineered viruses to deliver genetic medicines that can target both primary tumors and metastatic sites.</li>



<li>Sobr Safe Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOBR#NASDAQ">SOBR</a>) climbed 42.73% after the company announced it had been granted European patent number EP4171362.</li>



<li>Birks Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BG#NYSE">BG</a>) gained 21.10% after completing the acquisition of the Watch and Jewellery Business of European Boutique and related debt financing amendments.</li>



<li>Sharplink Gaming Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBET#NASDAQ">SBET</a>) advanced 14.06% after the company announced that it acquired an additional 7,689 ETH for the week of June 28 through July 4.</li>



<li>GameSquare Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GAME#NASDAQ">GAME</a>) was 1.95% higher after a $100 million Ethereum investment announced on Tuesday spurred a 58% rally.</li>



<li>AZZ Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZZ#NYSE">AZZ</a>) rose 2.01% in premarket on Wednesday as analysts expect it to report earnings of $1.58 per share on revenue of $434.79 million after the closing bell.</li>



<li>Methode Electronics Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MEI#NYSE">MEI</a>) advanced 4.72% as it is expected to report earnings after market close. Analysts estimate earnings of 4 cents per share on revenue of $232.87 million.</li>



<li>Penguin Solutions Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TZUP#NASDAQ">TZUP</a>) dropped 6.09% after reporting upbeat earnings for the third quarter, while sales missed estimates. The company raised its FY2025 earnings guidance, but narrowed its sales forecast.</li>



<li>Aehr Test Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEHR#NASDAQ">AEHR</a>) plummeted 20.11% after posting weaker-than-expected revenue for the fourth quarter on Tuesday. Aehr Test Systems reported fourth-quarter revenue of $14.09 million, missing analyst estimates of $14.82 million.</li>
</ul>



Commodities, Gold, And Global Equity Markets:



Crude oil futures were trading lower in the early New York session by 0.51% to hover around $68.68 per barrel.



Gold Spot US Dollar fell 0.37% to hover around $3,289.34 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was higher by 0.06% at the 97.5760 level.



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



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/07/46313514/warren-buffetts-quiet-dividend-play-9-high-yield-stocks-held-by-a-berkshire-subsidiary">Warren Buffett&#8217;s Quiet Dividend Play: 9 High-Yield Stocks Held By A Berkshire Subsidiary</a></li>
</ul>



Photo courtesy: Shutterstock

AEHR

CLDI

ENTO

GAME

PROK

SBET

SOBR

TZUP

US Stocks Likely To Open Higher: Trump's Tariff Clock Ticks, Fed Likely To Keep Rates Unchanged

The CNN Money Fear and Greed index showed a decline in the overall market sentiment, while the index moved to the &#8220;Greed&#8221; zone on Tuesday.



U.S. stocks settled mostly lower on Tuesday, with the Dow Jones index falling more than 150 points during the session following a series of letters from the White House to major trading partners, outlining sweeping new tariffs.



Shares of ProKidney Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PROK#NASDAQ">PROK</a>) jumped 515% on Tuesday after the company reported statistically and clinically significant topline results from its Phase 2 REGEN-007 trial evaluating Rilparencel in patients with chronic kidney disease and diabetes.



On the economic data front, the US Manheim Used Vehicle Value Index increased 1.6% month-over-month for June, following a 1.4% decline in May. The NFIB Small Business Optimism Index fell to 98.6 in June from 98.8 in May and compared to market estimates of 98.7.



Most sectors on the S&amp;P 500 closed on a negative note, with consumer staples, utilities and financial stocks recording the biggest losses on Tuesday. However, energy and materials stocks bucked the overall market trend, closing the session higher.



The Dow Jones closed lower by 166 points to 44,240.76 on Tuesday. The S&amp;P 500 fell 0.07% to 6,225.52, while the Nasdaq Composite gained 0.03% to 20,418.46 during Tuesday's session.



Investors are awaiting earnings results from Theratechnologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/THTX#NASDAQ">THTX</a>), AZZ Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZZ#NYSE">AZZ</a>) and Methode Electronics, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MEI#NYSE">MEI</a>) today.



What is CNN Business Fear &amp; Greed Index?



At a current reading of 74.3, the index moved to the &#8220;Greed&#8221; zone on Tuesday, versus a prior reading of 75.2.



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



Read Next:



<ul class="wp-block-list">
<li> <a href="https://www.benzinga.com/trading-ideas/short-ideas/25/07/46296650/top-2-industrials-stocks-you-may-want-to-dump-this-quarter">Top 2 Industrials Stocks You May Want To Dump This Quarter</a> </li>
</ul>



Photo courtesy: Shutterstock

Pre-Market Outlook

THTX

Dow Tumbles Over 150 Points Amid Trump Tariffs: Investor Sentiment Declines, Fear Index Moves To 'Greed' Zone

Leading cryptocurrencies recovered and stocks traded flat on Tuesday as President Donald Trump stated that the Aug. 1 deadline for tariffs remains unchanged.



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 10:30 p.m. ET)</th></tr></thead><tbody><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>+0.90%</td><td>$108,766.98</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>+3.02%</td><td>$2,602.05</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>+2.08%</td><td>$0.1702</td></tr></tbody></table></figure>



What Happened: Bitcoin rallied to an intraday high of $109,198.97, recouping losses from Monday&#8217;s sell-off. Ethereum broke above $2,600 but failed to sustain the rally



Institutional interest continued to grow, as iShares Bitcoin Trust&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>)&nbsp;<a href="https://www.benzinga.com/crypto/25/07/46291817/blackrocks-bitcoin-etf-just-overtook-michael-saylors-mstr-now-holds-nearly-700000-btc">surpassed&nbsp;</a>Strategy Inc.‘s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) BTC holdings.



Over $115 million was liquidated from the cryptocurrency market in the last 24 hours, with short position traders losing more. A further $260 million in Bitcoin perpetuals risked liquidation if the apex cryptocurrency rose to $111,000.



Bitcoin's open interest rose marginally by 0.52%. Notably, the majority of top traders on Binance were positioned short as of this writing.



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



Top Gainers (24 Hours)



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 10:30 p.m. ET)</th></tr></thead><tbody><tr><td>Cronos (CRO)</td><td>+18.22%</td><td>$0.09489</td></tr><tr><td>Zcash (ZEC)&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+9.25%</td><td>$42.14</td></tr><tr><td>SPX6900 (SPX)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+7.61%</td><td>$1.33 </td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.37 trillion, following a 1.16% increase in the last 24 hours.



Stocks were a mixed bag on Tuesday. The Dow Jones Industrial Average fell 165.60 points, or 0.37%, to end at 44,240.76. The S&amp;P 500 was little changed, closing 0.07% lower at 6,225.52. The tech-focused Nasdaq Composite gained 0.03% to end at 20,418.46.



Trump stated via Truth Social that the Aug. 1 deadline for tariffs remains <a href="https://truthsocial.com/@realDonaldTrump/posts/114818149310161097">unchanged</a>, and no extensions will be given. He also <a href="https://www.benzinga.com/markets/equities/25/07/46305321/copper-price-surges-trump-tariffs-stocks-july-2025">announced a 50% tariff</a> on copper imports, pushing the industrial metal to record highs.



Tuesday&#8217;s sideways movement came after markets fell on Monday after Trump&#8217;s announcement of <a href="https://www.benzinga.com/markets/equities/25/07/46281204/wall-street-today-trump-tariffs-japan-south-korea-stocks-drop">sweeping 25% tariffs</a> on all imports from Japan and South Korea beginning Aug. 1.



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



Analyst Notes: Blockchain analytics firm Santiment highlighted a surge in bullish retail crowd sentiment as Bitcoin sits above $108,500.



"Be cautious while crowd FOMO is pouring in, as it can often lead to short-term corrections," Santiment remarked.



<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">&#x1f92a; Bitcoin traders are leaning very bullish once again with crypto&#39;s top coin&#39;s market value sitting just above $108.5K. Be cautious while crowd FOMO is pouring in, as it can often lead to short-term corrections. &#x1f517; Link to keep tabs on <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> sentiment: <a href="https://t.co/NU755XSgel">https://t.co/NU755XSgel</a> <a href="https://t.co/cl8B0bsevy">pic.twitter.com/cl8B0bsevy</a>&mdash; Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1942601534224666849?ref_src=twsrc%5Etfw">July 8, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Widely followed technical analyst and trader Urkel said Bitcoin's path to $120,000-$130,000 will be smoother once it breaks above a "silly little wall" around $112,000.



"Just needs a big push," the analyst added.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Once <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> breaks through this silly little wall, there&#39;s not much in the way of a move to $120,000-130,000 next. Just needs a big push. <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://t.co/XnlK5bzvi9">pic.twitter.com/XnlK5bzvi9</a>&mdash; Urkel (@SteveUrkelDude) <a href="https://twitter.com/SteveUrkelDude/status/1942607886351536507?ref_src=twsrc%5Etfw">July 8, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo Courtesy: Miha Creative on Shutterstock.com



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



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/movers/25/07/46298016/kulr-technologys-bitcoin-bet-deepens-with-coinbase-credit">KULR Technology&#8217;s Bitcoin Bet Deepens With Coinbase Credit</a></li>
</ul>

Cryptocurrency

Movers

$BTC

$DOGE

$ETH

IBIT

MSTR

Bitcoin, Ethereum, Dogecoin Recover Even As Trump Reiterates August Tariff Deadline: Analyst Sees Move To $120,000-$130,000 If BTC Breaks Above This 'Silly Wall'

Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) founder and executive chairman, Jeff Bezos, has continued his selling spree in the company, offloading a fresh tranche of $666 million this week.



Check out the current price of&nbsp;<a href="https://www.benzinga.com/quote/AMZN" target="_blank" rel="noreferrer noopener">AMZN stock here.</a>



What Happened: According to a Form 4 filing submitted to the U.S. Securities and Exchange Commission on Tuesday, Bezos disposed of roughly 2.97 million shares in the e-commerce giant, across two transactions dated July 3 and July 7, at average prices of $223.73 and $223.92 per share, respectively.



The transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted in March 2025, which is essentially designed to allow corporate insiders to sell shares at predetermined times and volumes, without raising concerns of insider trading.



See Also: <a href="https://www.benzinga.com/personal-finance/management/25/07/46225954/sold-his-soul-the-devil-is-smiling-rosie-odonnell-blasts-jeff-bezos-50-million-wedding-oprah-and-his-fake-fembot-wife-in-sca">&#8216;Sold His Soul… The Devil Is Smiling&#8217; — Rosie O&#8217;Donnell Blasts Jeff Bezos&#8217; $50 Million Wedding, Oprah, and His &#8216;Fake Fembot Wife&#8217; in Scathing Rant</a>



Following the transaction, Bezos still holds over 902 million shares in Amazon, or just under 10% of its total outstanding shares, worth $197 billion at current market prices.



This comes just weeks after Bezos tied the knot with long-time partner, Lauren Sánchez, in a star-studded <a href="https://www.benzinga.com/news/events/25/06/46136092/jeff-bezos-lauren-sanchez-wedding-draws-star-studded-guest-list-to-venice-here-are-the-celebs-who-showed-up-so-far">$50 million wedding</a> in Venice two weeks ago. 



Why It Matters: Over a week ago, Bezos <a href="https://www.benzinga.com/markets/large-cap/25/07/46212089/jeff-bezos-sells-737-million-worth-of-amazon-stock-just-days-after-lavish-venetian-wedding">sold another tranche</a> of the company&#8217;s shares, worth $737 million, as part of the same pre-arranged trading plan.



According to a 10-Q filing made in May, Bezos <a href="https://www.benzinga.com/news/insider-trades/25/05/45175915/jeff-bezos-to-unload-almost-5-billion-in-amazon-stock-filing">plans to sell shares</a> worth $5 billion in the company, through May of 2026, aimed at funding his space exploration company, Blue Origin, alongside other ventures and charitable organizations. 



Bezos&#8217; net worth currently stands at $240 billion, according <a href="https://www.bloomberg.com/billionaires/profiles/jeffrey-p-bezos/">to</a> the Bloomberg Billionaires Index, with his holdings in Amazon making up a significant chunk of it. The rest comes from his ownership of Blue Origin, which has been marked on a cost-of-investment basis.



Price Action: Shares of Amazon were down 1.84% on Tuesday, trading at $219.36, and are up 0.13% after hours.



<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="148" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/08215956/Screenshot-2025-07-09-at-7.29.40-AM-1024x148.png" alt="" class="wp-image-977373" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/08215956/Screenshot-2025-07-09-at-7.29.40-AM-1024x148.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/08215956/Screenshot-2025-07-09-at-7.29.40-AM-300x43.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/08215956/Screenshot-2025-07-09-at-7.29.40-AM-768x111.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/08215956/Screenshot-2025-07-09-at-7.29.40-AM.png 1536w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



According to Benzinga&#8217;s Edge Stock Rankings, the stock scores well on Growth, ranked at the 96th percentile, and has a favorable price trend in the short, medium and long terms. Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a> for deeper insights into the stock.



Photo Courtesy: Lev Radin on Shutterstock.com



Read More: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/07/46283137/trump-vs-bezos-how-big-beautiful-bill-may-wreck-20k-ev-dream">Trump Vs. Bezos: How &#8216;Big Beautiful Bill&#8217; May Wreck $20K EV Dream</a></li>
</ul>

Large Cap

Insider Trades

AMZN

Jeff Bezos Offloads Nearly $666 Million In Amazon Stock — Adds To Post-Wedding Sell-Off Streak

Mark Zuckerberg-led Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) has reportedly acquired a <a href="https://www.benzinga.com/24/07/39867045/metas-34-year-to-date-surge-and-a-5-stake-in-essilorluxottica-transform-ray-ban-smart-glasses-and-re">minority stake</a> in EssilorLuxottica (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ESLOF#OTC">ESLOF</a>).



What Happened: Meta has acquired nearly 3% of EssilorLuxottica, the French-Italian eyewear giant behind brands such as Ray-Ban and Oakley, <a href="https://www.bloomberg.com/news/articles/2025-07-08/meta-invests-3-5-billion-in-essilorluxottica-in-ai-glasses-push">reported</a> Bloomberg on Tuesday, citing people familiar with the matter.



The stake is worth approximately €3 billion ($3.52 billion) at current market prices and comes amid Meta's growing ambitions in the <a href="https://www.benzinga.com/25/01/43114842/meta-expands-ai-wearables-with-oakley-smart-glasses-camera-equipped-earbuds-in-development">wearable tech space</a>.



See Also: <a href="https://www.benzinga.com/markets/tech/25/07/46301582/metas-ai-empire-grows-fueled-by-openai-deepmind-apple-defectors">Meta&#8217;s AI Empire Grows — Fueled By OpenAI, DeepMind, Apple Defectors</a>



As per the report, Meta could increase its stake to as much as 5% over time.



Meta did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga's</a> request for comments.



Why It's Important: Last month, it was reported that Meta and EssilorLuxottica plan to <a href="https://www.benzinga.com/markets/large-cap/25/06/45987099/meta-teams-up-with-oakley-prada-for-next-gen-ai-smart-glasses">release new AI smart glasses</a> under the Oakley and Prada brands.



This comes after the popularity of the Ray-Ban Meta smart glasses, which launched in 2023 and have reportedly sold millions of units. In October 2024, it was reported that Ray-Ban and Meta's smart glasses have <a href="https://www.benzinga.com/news/24/10/41458752/metas-smart-glasses-dominate-ray-ban-stores-ai-features-still-missing">become the best-selling product</a> in 60% of Ray-Ban stores across Europe, the Middle East and Africa.



Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.



Meanwhile, Meta rival Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) reportedly has at <a href="https://www.benzinga.com/markets/tech/25/06/46161059/apple-has-the-potential-to-crush-metas-ray-ban-smart-glasses-says-ming-chi-kuo-but-the-tech-giant-has-been-surprisingly-slow">least seven headsets and smart glasses</a> in development. This includes Vision Pro M5 models, Vision Air, XR glasses and a display accessory, with some expected to launch starting in 2027.



Price Action: Meta shares rose 0.044% in after-hours trading, following a 0.32% gain during regular market hours, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.



Benzinga&#8217;s Edge Stock Rankings indicate that META shows a strong upward trend in the short, medium and long term. While its growth score remains high, its value rating is relatively lower. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">More detailed performance data is available here</a>.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/08213814/Screenshot-2025-07-09-at-7.06.22%E2%80%AFAM.png" alt="" class="wp-image-977355"/></a></figure>



Photo Courtesy: Skorzewiak on Shutterstock.com



Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.



Read Next:



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</ul>



<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"> </a>

Media

AAPL

ESLOF

Mark Zuckerberg-Led Meta Acquires Nearly 3% Of Ray-Ban, Oakley Parent EssilorLuxottica In $3.5 Billion Deal: Report

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk has spoken out about the &#8220;Big Beautiful Bill&#8221; backed by President Donald Trump and Congress on several occasions. The bill will make it <a href="https://www.benzinga.com/news/politics/25/07/46283137/trump-vs-bezos-how-big-beautiful-bill-may-wreck-20k-ev-dream">more expensive for consumers</a> to buy electric vehicles and provide less credits for EV companies.



One analyst says the bill will hurt Tesla in more ways than one. &nbsp;



The Tesla Analyst: William Blair analyst Jed Dorsheimer downgraded Tesla stock from &#8220;Outperform&#8221; to &#8220;Market Perform&#8221; in a recent investor note. The analyst does not have a price target on the stock.



Read Also: <a href="https://www.benzinga.com/news/politics/25/07/46300946/musk-vs-trump-soap-opera-must-end-tesla-analyst-shares-3-key-steps">Musk Vs. Trump &#8216;Soap Opera Must End&#8217;: Tesla Analyst Shares 3 Key Steps</a>



The Analyst Takeaways: The recently passed "Big Beautiful Bill" could be "too much" for Tesla stock to overcome, Dorsheimer said in a new investor note.



The analyst said the removal of the $7,500 EV tax credit for consumers was expected, but the elimination of the corporate average fuel economy (CAFE) fines was less expected and requires a reset.



"While the $7,500 tax credit is likely to affect demand, the combination of a demand headwind and over $2 billion in profit from regulatory credits at risk may be too much for investors to bear," Dorsheimer said.



The loss of the EV $7,500 tax credit could negatively impact demand for Tesla vehicles among consumers. The removal of regulatory credit revenue could directly hit Tesla's profitability, the analyst adds.



"No More CAFÉ Fines, No More Credit Buyers."



The analyst said the bill eliminates market demand for Tesla's credits. The company earned $2.8 billion from selling these credits in 2024, making up 16% of its total gross profit.



Dorsheimer estimates that 75% of Tesla's regulatory credit revenue is related to the CAFE standards and now gets zeroed out in 2027.



The analyst stated that the removal of the $7,500 consumer tax credit could lead to an increase in unit volumes in the third quarter and put pressure on the fourth-quarter figures.



Along with the weakened demand and lower profits from regulatory credits, the analyst cites Musk's political push as a potential distraction for the electric vehicle company.



"We expect that investors are growing tired of the distraction at a point when the business needs Musk's attention the most and only see downside from his dip back into politics."



The analyst said Tesla stock now trades at an enterprise value of 76 times its lowered 2026 EBITDA estimates.



Risks for Tesla from the analyst include competition, geopolitics and "key-man risk" with Musk.



TSLA Price Action: Tesla stock was up 1.3% Tuesday to $297.81 versus a 52-week trading range of $182.00 to $488.54. Tesla stock is down 20.4% year-to-date in 2025.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/07/46303314/heres-how-much-1000-invested-in-tesla-stock-today-will-be-worth-if-cathie-woods-price-prediction-comes-true-in-2029-2">Here&#8217;s How Much $1,000 Invested In Tesla Stock Today Will Be Worth If Cathie Wood&#8217;s Price Prediction Comes True In 2029</a></li>
</ul>



Image created using artificial intelligence via Midjourney.

Short Ideas

Downgrades

Trump's 'Big Beautiful Bill' Too Much For Tesla Stock: 'Direct Hit To Profitability'

Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) has had a rough ride this year, down nearly 25% in the past 12 months and 10% just this past month. However, after weeks of pressure, the chart is flashing a setup that has <a href="https://www.benzinga.com/quote/AMD/news">traders on high alert.</a>



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0708"><img loading="lazy" decoding="async" width="626" height="488" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/08134552/Screenshot-2025-07-08-at-11.15.35-PM.png" alt="" class="wp-image-976967" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/08134552/Screenshot-2025-07-08-at-11.15.35-PM.png 626w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/08134552/Screenshot-2025-07-08-at-11.15.35-PM-300x234.png 300w" sizes="(max-width: 626px) 100vw, 626px" /></a></figure>



<a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0708">Chart created using Benzinga Pro</a>



The stock has pulled back to around $135-$137, a level that aligns with strong technical support and fills a recent breakout gap. The RSI (relative strength index) has cooled off to 62.74, momentum remains intact, and the dip is looking more like a launchpad than a breakdown.



Read Also: <a href="https://www.benzinga.com/markets/equities/25/07/46290622/openai-sticks-with-nvidia-chatgpt-maker-says-no-plans-to-use-googles-ai-chips-at-scale">OpenAI Sticks With Nvidia: ChatGPT Maker Says No Plans To Use Google&#8217;s AI Chips At Scale</a>



<h2 class="wp-block-heading">Chart Patterns Don't Lie—And AMD's Is Repeating History</h2>



AMD has quietly begun delivering its MI350 units, and while headlines may still be catching up, the chart tells a familiar story. 



<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=%24AMD&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AMD</a> if you missed the First Wave bounce from the 7th of April you better make sure you don&#39;t miss the Wave 2 pull back support level to add.<a href="https://twitter.com/search?q=%24AMD&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AMD</a> was beaten up by everyone but the chart was flawless and the same pattern repeated itself from 2022 &#8211; 2023. Even if you did not… <a href="https://t.co/e3STGvp8YM">pic.twitter.com/e3STGvp8YM</a>&mdash; The Long Investor (@TheLongInvest) <a href="https://twitter.com/TheLongInvest/status/1942550191791337627?ref_src=twsrc%5Etfw">July 8, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The same pattern seen during AMD's 2022–2023 comeback is playing out again, noted The Long Investor on X &#8211; pullbacks to key moving averages followed by powerful rebounds.



<h2 class="wp-block-heading">Beneath The Dip, Bullish Signals Are Stacking Up</h2>



Technically speaking, AMD is sitting above its 20-day, 50-day, and 200-day moving averages—typically a bullish setup. The MACD (moving average convergence/divergence) indicator is in bullish territory, and every dip this year has been met with eager buyers. If history is any guide, this one may be too.



Some traders are eyeing the $136 range as an attractive entry point, with upside targets around $170 and risk management set below $125. Long-term investors? They're simply noting that every time AMD drops below its 200-week average, it ultimately rewards the patient.



In a chip market dominated by Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) headlines, AMD might just be setting up for its own moment. Missed the first wave? This second pullback could be your shot.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/07/46261478/nvidias-4t-countdown-will-next-weeks-chart-print-a-trillion-dollar-breakout">Nvidia&#8217;s $4T Countdown: Will Next Week&#8217;s Chart Print A Trillion-Dollar Breakout?</a></li>
</ul>



Photo: Shutterstock

AMD At $135? That Just Might Be The Launchpad

Wall Street may already be sitting near record highs, but Goldman Sachs believes the rally still has legs—thanks to lower yields, mega-cap momentum and the Fed's return to cutting rates, the bank now sees the S&amp;P 500 hitting <a href="https://www.benzinga.com/topic/expert-ideas">6,900 in the next 12 months.</a>



In a new note Monday, David J. Kostin, chief U.S. equity strategist at Goldman Sachs, said he expects the S&amp;P 500 – as tracked by the Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) – to climb to 6,400 in three months, a gain of 3%, 6,600 by year-end, up 6%, and 6,900 within 12 months, an 11% increase.



That's a significant boost from their previous targets of 5,900, 6,100 and 6,500, respectively—and well above the median consensus forecast of 5,975.



<h3 class="wp-block-heading">Why The Upgrade? Think Fed Cuts And Big Tech</h3>



Goldman's forecast shift is built on three key assumptions: earlier and deeper Fed cuts, lower bond yields and the staying power of mega-cap earnings.



The bank now expects the Federal Reserve to cut rates three times within one year, starting in September, followed by two more in 2026. Their rates team sees the 10-year Treasury yield ending 2025 at 4.2%, down from a prior estimate of 4.5%.



According to Goldman, "every 50 basis point decline in real yields is associated with a roughly 3% increase" in the S&amp;P 500's forward price-to-earnings ratio.



Strong first-quarter results from mega-cap names also gave Goldman more confidence that tech leaders can "sustain current investor expectations for their long-term growth."



<h2 class="wp-block-heading">Market Breadth Still Narrow, But That May Change</h2>



Despite the record highs, most stocks still lag behind. 



Goldman said the "median constituent remains more than 10 percent below its 52-week high," pointing to extremely narrow market breadth.



The Invesco S&amp;P 500 Equal-Weight ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RSP#NYSE">RSP</a>) still trades 3% below its record highs hit in late November 2024. 



But rather than a correction, Goldman sees a potential shift in leadership. "We believe a ‘catch up' is more likely than a ‘catch down'" as laggards start to recover in the coming months.



Notably, the recent rally has been unusually sharp: since the April low, the S&amp;P 500 is up 25%, ranking above the 99th percentile of three-month returns in the past 50 years.



<h3 class="wp-block-heading">Earnings Steady For Now, But Tariffs Cloud Outlook</h3>



Goldman is sticking with its earnings growth forecasts of 7% for both 2025 and 2026. Still, Kostin indicated uncertainty tied to the evolving tariff landscape, which could pressure margins.



"The shifting tariff landscape creates large uncertainty around our earnings forecasts," he said, though large-cap firms appear buffered by inventory and cost strategies.



<h3 class="wp-block-heading">3 Investment Plays for the Second Half of 2025</h3>



Goldman is positioning for a rally that broadens beyond mega-caps. The firm outlined three key trade ideas:



<ol class="wp-block-list">
<li>Balanced sector exposure, with overweights in Software &amp; Services, Materials, Utilities, Media &amp; Entertainment and Real Estate.</li>



<li>Alternative asset managers, which lagged despite recovering capital markets.</li>



<li>Companies with high floating-rate debt, which should benefit from lower rates.</li>
</ol>



Read Next:



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<li><a href="https://www.benzinga.com/news/25/07/46280221/vice-stocks-beat-esg-trump-2025">Guns, Booze, And Gambling Stocks Are Crushing ESG In Trump&#8217;s America </a></li>
</ul>



Image created using artificial intelligence via Midjourney.

Macro Economic Events

Broad U.S. Equity ETFs

Econ #s

Economics

ETFs

S&P 500 Near 7,000? Inside Goldman's New Gravity-Defying Forecast

Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is <a href="https://www.benzinga.com/topic/nvidia" target="_blank" rel="noreferrer noopener">trading close</a> to its 52-week high of $161 on Tuesday. The stock has seen a notable increase this year, rising almost 18% year-to-date and gaining over 64% in market value in the last three months. 



This performance surpasses the broader market, as the S&amp;P 500 and NASDAQ Composite indexes have generated approximately 6% in returns year-to-date.



In May, Nvidia reported <a target="_blank" href="https://www.benzinga.com/markets/tech/25/06/46177736/what-is-going-on-with-nvidia-stock" rel="noreferrer noopener">first-quarter revenue</a> of $44.1 billion, a 69% increase year-over-year and a 12% sequential rise. This figure exceeded the Street consensus estimate of $43.2 billion, despite a new export ban impacting sales of its chips to China, one of its significant markets.



Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/06/45845825/ai-momentum-powers-nvidia-arm-and-chip-supply-chain-in-bofa-recap" rel="noreferrer noopener">AI Momentum Powers Nvidia, Arm And Chip Supply Chain In BofA Recap</a>



<h2 class="wp-block-heading">Recent Key Events Impacting Valuation</h2>



Several recent events have influenced Nvidia&#8217;s valuation. On July 4, 2025, President Donald Trump unveiled the &#8220;<a target="_blank" href="https://www.benzinga.com/markets/tech/25/07/46291393/micron-stock-soars-42-in-2025-but-ceo-warns-of-demand-pull-ins" rel="noreferrer noopener">Big Beautiful Bill</a>,&#8221; which would raise the semiconductor investment tax credit from 25% to 30% through 2026, giving chipmakers more substantial incentives to expand U.S. manufacturing.



He also created the United States Investment Accelerator within the Commerce Department by executive order, shifting control of the CHIPS Act program directly under the White House.



Although Trump previously criticized the $39 billion in grants and $75 billion in loans under the CHIPS and Science Act, he now backs pro-chip policies through this bill, which has cleared the Senate and is awaiting a House vote.



Also in July, OpenAI <a target="_blank" href="https://www.benzinga.com/markets/equities/25/07/46290622/openai-sticks-with-nvidia-chatgpt-maker-says-no-plans-to-use-googles-ai-chips-at-scale" rel="noreferrer noopener">confirmed it will</a> continue using Nvidia AI chips at scale, rejecting Alphabet&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Google&#8217;s tensor processing units (TPUs) despite a recent cloud deal with Google Cloud. Nvidia, in turn, reaffirmed its partnership with OpenAI, highlighting its role as the core hardware provider for OpenAI&#8217;s AI models.



<h2 class="wp-block-heading">Supply Chain And Export Controls</h2>



Reportedly, contract chipmaker and key Nvidia supplier Taiwan Semiconductor Manufacturing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) has <a href="https://www.benzinga.com/markets/tech/25/07/46283410/taiwan-semiconductor-shifts-focus-100-billion-usa-expansion" target="_blank" rel="noreferrer noopener">accelerated its U.S. expansion</a>. This move is a response to Washington&#8217;s chip tariff policies, leading TSM to delay the construction of its second plant in Japan to prioritize its growing American footprint.



In March, TSM Chairman C.C. Wei announced an additional $100 billion U.S. investment, building on the $65 billion disclosed in April 2024. This expanded investment aims to boost domestic chipmaking to support major clients like Nvidia and Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and reduce reliance on overseas production.



Meanwhile, the U.S. is drafting <a target="_blank" href="https://www.benzinga.com/markets/asia/25/07/46266218/us-plans-to-restrict-ai-chip-exports-to-malaysia-thailand-to-curb-diversion-to-china" rel="noreferrer noopener">new export controls</a> to prevent Nvidia AI chips from reaching China via third-party routes, specifically through Malaysia and Thailand. This marks the first formal step in Trump&#8217;s overhaul of prior AI chip export rules, though key security questions remain unresolved.



These U.S. sanctions had previously compelled Nvidia to halt H20 chip exports to China on April 9, resulting in a $4.5 billion first-quarter charge for Nvidia, attributed to excess inventory and purchase commitments. Consequently, Nvidia projected its second-quarter revenue at $45 billion, approximately $780 million below estimates, citing an $8 billion impact from lost H20 sales due to these export restrictions.



<h2 class="wp-block-heading">Analyst Projections</h2>



Thirty-seven analysts have set a <a target="_blank" href="https://www.benzinga.com/quote/NVDA/analyst-ratings" rel="noreferrer noopener">consensus price forecast</a> of $179.17 for Nvidia. Loop Capital issued the highest forecast at $250 on June 25, 2025, while Seaport Global gave the lowest at $100 on April 30, 2025. The latest ratings from Citigroup (July 7), Mizuho (July 3), and Loop Capital (June 25) average a forecast of $208.33, suggesting a potential upside of 30.65% for Nvidia based on those recent views.



NVDA Price Action: NVDA stock is trading higher by 0.82% to $159.59 premarket at last check Tuesday.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/analyst-stock-ratings/reiteration/25/07/46281768/telecom-stocks-are-no-longer-one-size-fits-all-analyst-says-heres-which-company-stands-out" target="_blank" rel="noreferrer noopener">Telecom Stocks Are No Longer One-Size-Fits-All, Analyst Says — Here&#8217;s Which Company Stands Out</a></li>
</ul>



Image by Jack Hong via Shutterstock

GOOG

GOOGL

Nvidia Outpaces Market With AI-Powered Growth, Nears Record Highs

U.S. stocks were little changed on Tuesday as investors stayed cautious following a series of letters from the White House to major trading partners, <a href="https://www.benzinga.com/topic/tariffs">outlining sweeping new tariffs. </a>



The real market action unfolded in commodities, with copper surging 10% after President Donald Trump announced a 50% tariff on copper imports starting today.



The industrial metal jumped to $5.52 per pound, hitting a new all-time high and marking its biggest one-day gain since October 2008.



During a Cabinet meeting, Trump stated: "Some letters are at a 60%, 70% rate.&#8221; He said to be announcing new tariff measures on pharmaceuticals — possibly a 200% tariff.



He added that trade relations with China have been "very fair" recently, noting a strong working relationship.



While Trump reiterated openness to trade negotiations, he emphasized that the U.S. will not extend the August deadline for reciprocal tariffs to take effect.



Commenting on the European Union, Trump said: "The EU has been speaking to us. President von der Leyen has been very nice lately, but they've treated us badly until recently. We're probably two days away from sending the EU letter. A letter is a deal."



At 1:40 p.m. ET, the S&amp;P 500 was flat at 6,220, the Nasdaq 100 gained 0.1% to 22,710, while small caps led the way with the Russell 2000 rising 0.9%.



Energy stocks outperformed as oil prices climbed 1.4% for a second straight session, topping $68 — a two-week high.



Treasury yields also moved higher, with the 10-year rising five basis points to 4.43% and the 30-year yield climbing to 4.96%.



The U.S. dollar remained steady, while gold fell 0.8% to $3,308 per ounce. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) traded around $109,125.



<h1 class="wp-block-heading">Tuesday&#8217;s Performance In Major U.S. Indices, ETFs</h1>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Major Indices</td><td>Price</td><td>% change</td></tr><tr><td>Russell 2000</td><td>2,233.89</td><td>0.9%</td></tr><tr><td>Nasdaq 100</td><td>22,710.77</td><td>0.1%</td></tr><tr><td>S&amp;P 500</td><td>6,229.74</td><td>0.0%</td></tr><tr><td>Dow Jones</td><td>44,254.05</td><td>-0.3%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 1:45 p.m. ET</figcaption></figure>



According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:



<ul class="wp-block-list">
<li>The&nbsp;Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) flattened at $570.48.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) inched 0.3% lower to $442.54.</li>



<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;eased 0.1% to $533.50.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.9% to $221.73.</li>



<li>The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) outperformed, up 2.8%; the Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) lagged, down 1.3%.</li>
</ul>



<h1 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h1>



<ul class="wp-block-list">
<li>Sunrun Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>) dropped 12%, while Enphase Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) fell 4.5% and First Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) declined 6% after President Trump signed an order slashing tax credits for wind and solar energy.</li>



<li>Freeport-McMoRan Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) jumped 4.4%, benefiting from a sharp spike in copper prices following the newly announced tariffs.</li>



<li>Fair Isaac Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FICO#NYSE">FICO</a>) sank 15% after Bill Pulte, director of the Federal Housing Finance Agency, announced Fannie Mae and Freddie Mac will now allow lenders to adopt the VantageScore 4.0 credit scoring model.</li>



<li>Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) rallied 7.5% after Citigroup raised its price target on the stock from $21 to $24.</li>



<li>JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) declined 3.5% — its worst session since April — after HSBC downgraded the bank from Hold to Reduce and lifted its price target from $237 to $259.</li>



<li>Datadog Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DDOG#NASDAQ">DDOG</a>) fell 4.3% to $145.81 after Guggenheim downgraded the stock from Neutral to Sell, setting a price target of $105.</li>



<li>Devon Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) surged 7.4% after JPMorgan increased its price target from $40 to $42 while maintaining a Neutral rating.</li>



<li>Other oil and gas majors advanced amid rising crude prices: Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) <a href="https://www.benzinga.com/etfs/sector-etfs/25/07/46304047/energy-etfs-in-focus-after-exxon-flags-1-5-billion-profit-hit">rose</a> 2.8%, Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) gained 3.5%, and ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>) climbed 4.3%. </li>
</ul>



Read Now:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/07/46296421/goldman-sachs-raises-sp500-forecast-6900">S&amp;P 500 Near 7,000? Inside Goldman&#8217;s New Gravity-Defying Forecast</a></li>
</ul>



Photo: TimBrew via Shutterstock

Government

Regulations

Global

DDOG

ENPH

FICO

FSLR

INTC

Copper Rallies To Record Highs After Trump's 50% Tariff Bombshell: What's Moving Markets Tuesday?

Quantum computing firm&nbsp;IonQ Inc. &nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IONQ#NYSE">IONQ</a>) saw a price target hike from Benchmark after the company successfully raised $1 billion through an equity offering at $55.49 per share, a notable 25% premium to the closing price last Thursday.



What Happened: The equity offering is likely to bring IonQ&#8217;s pro-forma cash to an estimated $1.68 billion, accelerating the company&#8217;s commercialization efforts. Benchmark analyst David Williams has reiterated a Buy rating on IonQ shares and increased his price target from $50 to $55, expressing confidence in IonQ&#8217;s potential in the quantum computing market, <a href="https://www.barrons.com/articles/ionq-stock-offering-buy-rating-be632dc5?">reported </a>Barrons.



The price target was raised following a fireside chat between Benchmark analysts and IonQ CEO Niccolo de Masi and CFO Thomas Kramer, which strengthened the firm's optimistic view of the company.



Williams highlighted IonQ&#8217;s unique approach, which includes &#8220;positioning itself as a leader in both quantum computing and the increasingly critical field of quantum networking.&#8221; He also noted the company&#8217;s plans to gradually scale up its quantum machines, expressing confidence in its technical roadmap.



The company&#8217;s CEO, Niccolo de Masi, has underscored IonQ&#8217;s focus on quantum networking as a more feasible approach to constructing larger quantum computers. 



IonQ is widely seen as having the most commercially focused and differentiated business model and market strategy in the quantum computing space. The company has set bold targets, aiming to expand from 256 physical qubits in 2026 to 2 million physical qubits and 80,000 logical qubits by 2030. Williams says its highly commercial and differentiated strategy positions the company well as the industry evolves.



SEE ALSO:&nbsp;<a href="https://benzinga.com/markets/tech/25/07/46272105/jack-dorsey-unveils-bitchat-a-decentralized-bluetooth-powered-server-free-messaging-service" target="_blank" rel="noreferrer noopener">Jack Dorsey Unveils &#8216;Bitchat,&#8217; A Decentralized, Bluetooth-Powered, Server-Free Messaging Service</a>



Why It Matters: The quantum computing industry is gaining significant investor attention due to its long-term economic potential, with IonQ being a standout frontrunner, <a href="https://www.benzinga.com/analyst-stock-ratings/initiation/25/07/46229237/cash-rich-ionq-to-capture-20-of-quantum-market-by-2035-analyst">according to</a> Cantor Fitzgerald analyst Troy Jensen. Despite its nascent stage, the industry is seeing substantial stock valuations, with IonQ expected to capture 20% of the quantum market by 2035.



IonQ&#8217;s stock has been on a surge, with the company&#8217;s commitment to building a quantum ecosystem in Texas, following the passage of the Texas Quantum Initiative,&nbsp;<a href="https://www.benzinga.com/trading-ideas/movers/25/06/46175752/ionq-stock-is-surging-monday-whats-driving-the-rally">driving the rally</a>.



Additionally, the company&#8217;s recent scientific achievements—such as advancements in protein folding and particle physics in partnership with the U.S. Department of Defense—highlight the company&#8217;s growing potential in the quantum computing space.



Benzinga Edge Stock Rankings show that IonQ stock had a strong price trend over the short, medium and long term. Its momentum ranking was strong at 9the 9th percentile, whereas its value ranking was poor at the 3rd percentile; the details of other metrics are available <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a>.



<ul class="wp-block-list">
<li>READ MORE: <a href="https://www.benzinga.com/analyst-stock-ratings/initiation/25/07/46232263/d-wave-surges-1326-whats-driving-quantum-computings-newest-star">D-Wave Surges 1,326%: What&#8217;s Driving Quantum Computing&#8217;s Newest Star? </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.

IONQ

This Quantum Computing Stock Just Raised $1 Billion — And Analyst Says It's Only Getting Started

In the wake of&nbsp;Elon Musk&#8216;s political aspirations, traders who bet against&nbsp;Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) are projected to earn approximately $1.4 billion due to a resultant drop in the company&#8217;s stock.



What Happened: Elon Musk's plan to launch a new U.S. political party has sparked doubts about his focus on Tesla's future. Coupled with his ongoing public clash with President Donald Trump over the tax-cut and spending bill, this led to nearly a 7% drop in Tesla's shares during early trading on Monday, according to a Reuters. 



With the shares valued at $296, those who bet against the electric vehicle maker are poised to make around $1.4 billion, according to data from analytics firm Ortex. This follows a $4 billion profit made by short sellers on June 5, after Tesla&#8217;s largest single-day market value drop, also due to the Musk-Trump social media spat.



By the close of trading, Tesla&#8217;s shares had dropped 6.8% to $293.94, marking a total loss of 22.5% year-to-date.



SEE ALSO: <a href="https://benzinga.com/markets/tech/25/07/46288500/elon-musk-may-be-callous-insensitive-and-extremely-cruel-but-black-swan-author-nassim-taleb-is-prayi" target="_blank" rel="noreferrer noopener">Elon Musk May Be Callous, Insensitive And &#8216;Extremely Cruel&#8217; But &#8216;Black Swan&#8217; Author Nassim Taleb Is Praying For His Safety Amid Rift With Trump</a>



Why It Matters: Musk&#8217;s political ambitions have been a point of concern for investors, with some suggesting that the lack of an<a href="https://www.benzinga.com/markets/tech/25/07/46273662/no-plan-b-teslas-musk-premium-is-on-thin-ice"> alternative CEO </a>could be detrimental to Tesla&#8217;s future. The company&#8217;s shares have been on a downward trajectory, with profits and deliveries hitting multi-quarter lows, leading to investor unease.



Notably, veteran investors and analysts, including Ross Gerber and Dan Ives, have criticized Musk&#8217;s return to politics and questioned the Tesla Board of Directors as the company&#8217;s stock was <a href="https://www.benzinga.com/markets/tech/25/07/46288776/ross-gerber-slams-joke-tesla-board-as-elon-musk-returns-to-politics-dan-ives-says-musk-cannot-start-own-political-party-and-remain-ceo">on a declining</a> spree on Monday.



President Donald Trump has also expressed<a href="https://www.benzinga.com/news/politics/25/07/46266957/trump-calls-america-party-a-train-wreck-blasts-elon-musk-for-going-completely-off-the-rails-president-says-system-not-designed-for-a-third-player"> his discontent </a>with Musk&#8217;s political plans, describing them as a &#8220;train wreck&#8221; and suggesting that the U.S. system is not designed for third-party disruption.



<ul class="wp-block-list">
<li>READ MORE: <a href="https://www.benzinga.com/news/politics/25/07/46290046/beijing-rejects-elon-musk-as-a-geopolitical-asset-lukewarm-response-to-chinese-diplomatic-overreach-trump-feud-reportedly-diminishes-musks-value">Beijing Rejects Elon Musk As A &#8216;Geopolitical Asset&#8217;: Lukewarm Response To Chinese Diplomatic Overreach, Trump Feud Reportedly Diminishes Musk&#8217;s Value</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.

Tesla Short Sellers To Earn Nearly $1.4 Billion In Profits Amid Elon Musk's Political Ambitions: Report

<a href="https://www.benzinga.com/topic/s-p-500-index">The S&amp;P 500</a> is on fire this July, just as it has been every year since 2015. But behind the celebratory green candles and fresh highs lurks a much murkier picture.



<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">S&amp;P 500 has traded above its upper Bollinger Band for the past 8 days &#x1f6a8; The last time it did that was in July 2024 and then <a href="https://twitter.com/search?q=%24SPY&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SPY</a> promptly corrected by 10% &#x1f4c9;&#x1f4c9; <a href="https://t.co/p3ysYAiMk4">pic.twitter.com/p3ysYAiMk4</a>&mdash; Barchart (@Barchart) <a href="https://twitter.com/Barchart/status/1942409054984233316?ref_src=twsrc%5Etfw">July 8, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



For the past eight trading sessions, the S&amp;P 500 has closed above its upper Bollinger Band, <a href="https://x.com/Barchart/status/1942409054984233316?s=31" target="_blank" rel="noopener">as noted by</a> Barcharts on X—a technical sign that the index is overheating. The last time this happened? July 2024, right before a swift 10% correction. While history doesn't always repeat itself, it often rhymes, and some traders are beginning to hear the echo.



Investors in the S&amp;P 500 tracking SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) and the iShares Core S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVV#NYSE">IVV</a>) might want to remain wary of their holdings.



Read Also: <a href="https://www.benzinga.com/markets/equities/25/06/45840999/sp-500s-steady-climb-to-6000-just-killed-the-vix-what-this-volatility-crash-means-for-the-next-market-move">S&amp;P 500&#8217;s Steady Climb To 6000 Just Killed The VIX – What This Volatility Crash Means For The Next Market Move</a>



<h2 class="wp-block-heading">Market Breadth Is Flashing Red</h2>



Even more concerning: market breadth is flashing red. According to Barchart, the <a href="https://x.com/Barchart/status/1942444639794966694">gap</a> between the index's strength and that of its average constituent is near the widest it's been this century. In plain terms, a handful of mega-cap stocks &#8211; think Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) &#8211; are doing the heavy lifting while the majority of the S&amp;P 500 is lagging far behind.



This kind of narrow leadership can keep indexes afloat for a while, but it's hardly a foundation for sustainable gains. When only a few names are driving performance, the risk of a pullback increases if even one of them falters.



<h2 class="wp-block-heading">The Wild Card</h2>



Still, seasonal strength remains a wildcard. The S&amp;P has finished green every July since 2015 &#8211; a rare and powerful trend that bulls are betting on to continue. That momentum, combined with AI hype and rate-cut hopes, has kept sentiment buoyant.



But cracks are forming. The question now is whether July's bullish streak can overpower technical warning signs and deteriorating internals &#8211; or whether investors are partying on a weakening floor.



For now, the S&amp;P 500's scoreboard looks impressive. Just don't forget to check who's actually playing and who's missing the game entirely.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/07/46246574/datadogs-sp-500-debut-could-spark-a-sizzling-rally">Datadog&#8217;s S&amp;P 500 Debut Could Spark A Sizzling Rally</a></li>
</ul>



Photo: Shutterstock

MSFT

Another July, Another S&P 500 Rally - But Something's Seriously Off This Time

Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) strengthened its partnership with OpenAI after the ChatGPT maker confirmed it has no plans to deploy Alphabet Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) in-house artificial intelligence chips at scale, despite recent cloud collaboration between the rivals.



What Happened: &#8220;We&#8217;re proud to partner with OpenAI and continue powering the foundation of their work,&#8221; Nvidia wrote on X Monday, citing a Reuters report that OpenAI rejected Google&#8217;s tensor processing units (TPUs) for large-scale deployment.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We're proud to partner with <a href="https://twitter.com/OpenAI?ref_src=twsrc%5Etfw">@OpenAI</a> and continue powering the foundation of their work. <a href="https://t.co/CWgsn1uAIk">pic.twitter.com/CWgsn1uAIk</a>&mdash; NVIDIA (@nvidia) <a href="https://twitter.com/nvidia/status/1942270425607569562?ref_src=twsrc%5Etfw">July 7, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



OpenAI spokesperson confirmed to Reuters on Sunday that the AI lab is conducting early testing with some Google TPUs but has no active plans to use them at scale. The company continues relying on Nvidia&#8217;s graphics processing units (GPUs) and Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) AI chips to meet growing computational demands.



The statement comes two days after Reuters reported OpenAI signed a cloud services deal with Google Cloud in May, marking a rare partnership between direct AI competitors. 



See Also: <a href="https://www.benzinga.com/markets/hedge-funds/25/07/46290114/bill-ackman-bets-over-60-of-pershing-squares-portfolio-in-these-4-stocks-uber-hhh-and-more">Bill Ackman Bets Over 60% Of Pershing Square&#8217;s Portfolio In These 4 Stocks: UBER, HHH And More</a>



Why It Matters: The agreement provides OpenAI access to Google&#8217;s <a href="https://www.benzinga.com/news/23/05/32645037/nvidia-vulnerable-to-in-house-ai-chip-production-by-google-meta-microsoft-amazon">infrastructure to support training and deployment</a> of models like ChatGPT, reducing reliance on Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Azure.



Google has expanded external availability of its TPUs, historically reserved for internal use, winning customers including Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and AI startups Anthropic and Safe Superintelligence. The <a href="https://www.benzinga.com/markets/equities/24/10/41615800/googles-cost-advantage-with-custom-chips-only-nvidia-tops-it-says-analyst">custom chips offer Google a cost advantage</a> second only to Nvidia in performance, according to D.A. Davidson analyst Gil Luria.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/biotech/25/07/46289610/palantir-co-founder-joe-lonsdale-wants-a-fda-overhaul-with-special-forces-style-ai-team-because-china-is-racing-to-outpace-us-in-biotech">Palantir Co-Founder Joe Lonsdale Wants A FDA Overhaul With Special Forces-Style AI Team Because China Is Racing To Outpace US In Biotech</a></li>
</ul>



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



Photo courtesy: Jack Hong / Shutterstock.com

CRWV

OpenAI Sticks With Nvidia: ChatGPT Maker Says No Plans To Use Google's AI Chips At Scale

U.S. stock futures were fluctuating on Tuesday after trimming gains from their records on Monday. Futures of major benchmark indices were trading mixed.



President Donald Trump announced sweeping <a href="https://www.benzinga.com/markets/equities/25/07/46281204/wall-street-today-trump-tariffs-japan-south-korea-stocks-drop">25% tariffs</a> on all imports from Japan and South Korea, and sent letters to a total of 14 countries, all posted on his Truth Social account, starting Aug. 1. 



Japan&#8217;s Prime Minister Shigeru Ishiba has since voiced his <a href="https://www.benzinga.com/markets/economic-data/25/07/46288472/japans-prime-minister-criticizes-trumps-tariff-decision-shigeru-ishiba-calls-move-truly-regrettable">dissatisfaction with Trump's decision</a> to impose 25% tariffs on goods imported from the country, calling it "truly regrettable." 



The 10-year Treasury bond yielded 4.41% and the two-year bond was at 3.90%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections show markets pricing a 95.3% likelihood of the Federal Reserve keeping the current interest rates unchanged in its July meeting. 



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Dow Jones</td><td>-0.10%</td></tr><tr><td>S&amp;P 500</td><td>0.08%</td></tr><tr><td>Nasdaq 100</td><td>0.21%</td></tr><tr><td>Russell 2000</td><td>0.32%</td></tr></tbody></table></figure>



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, were higher in premarket on Tuesday. The SPY was up 0.11% at $621.36, while the QQQ advanced 0.26% to $553.47, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From Last Session:



On Monday, consumer staples and utilities stocks defied a broader market downturn, closing higher, while most sectors on the S&amp;P 500 finished in negative territory.



Consumer discretionary, materials, and energy stocks recorded the most significant losses, as U.S. stocks settled lower overall.



In corporate news, Cogent Biosciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COGT#NASDAQ">COGT</a>) announced positive topline results from Part 2 of the SUMMIT trial of bezuclastinib for non-advanced systemic mastocytosis, demonstrating clinically meaningful and statistically significant improvements across primary and all key secondary endpoints.



Conversely, Core Scientific Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CORZ#NASDAQ">CORZ</a>) shares experienced a decline of around 18% after CoreWeave revealed its intentions to acquire the company in an all-stock deal.



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>0.92%</td><td>20,412.52</td></tr><tr><td>S&amp;P 500</td><td>0.79%</td><td>6,229.98</td></tr><tr><td>Dow Jones</td><td>0.94%</td><td>44,406.36</td></tr><tr><td>Russell 2000</td><td>1.55%</td><td>2,214.23</td></tr></tbody></table></figure>



Insights From Analysts:



BlackRock shifted its investment focus from traditional macro anchors to &#8220;mega forces&#8221; like AI, believing these will be &#8220;durable drivers of returns in both the near and long term.&#8221;



This tactical change comes as long-term macro stability wanes, yet the firm sees no need to reduce risk. Instead, they view AI-related investments as a &#8220;new anchor for returns,&#8221; bolstered by &#8220;immutable economic laws&#8221; that limit rapid global change.



This strategy keeps BlackRock &#8220;risk on&#8221; and overweight U.S. equities, anticipating solid corporate earnings despite potential growth dents from tariffs or caution.



Louis Navellier of Navellier &amp; Associates said that tariffs are roiling markets again.



&#8220;Tariffs are back on the front burner as the July 9th deadline is upon us. Rumors abound on pending agreements, along with threats if trading partners aren&#8217;t responsive in a timely fashion. But after the first 90-day delay, expectations are that nothing particularly painful will persist for long, and that the saber rattling will continue,&#8221; he said.



Navellier also highlighted that since the date for actual tariff increases has been pushed to Aug. 1st, &#8220;For now, we&#8217;re seeing some modest hedging taking place today, which isn&#8217;t particularly painful given the recent new all-time highs in stocks.&#8221;



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



Upcoming Economic Data



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



<ul class="wp-block-list">
<li>June&#8217;s NFIB optimism index data will be out by 6:00 a.m. ET.</li>



<li>May&#8217;s consumer credit data will be released by 3:00 p.m. ET.</li>
</ul>



Stocks In Focus:



<ul class="wp-block-list">
<li>Optical Cable Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCC#NASDAQ">OCC</a>) surged 35.64% after announcing the strategic collaboration with Lightera, including an investment by Lightera resulting in a 7.24% ownership stake in OCC. This partnership aims to expand product offerings and integrated cabling solutions, particularly for the data center and enterprise sectors, with OCC handling sales.</li>



<li>BioSig Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BSGM#NASDAQ">BSGM</a>) jumped 27.27% following its merger with Streamex, securing up to $1.1 billion in growth financing to become a major public holder of gold bullion and tokenize the $142 trillion commodities market on the blockchain via Streamex&#8217;s RWA platform powered by Solana.</li>



<li>Thumzup Media Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TZUP#NASDAQ">TZUP</a>) rose 4.12% after completing a registered direct public offering, raising approximately $6.04 million net by selling non-voting Series C Convertible Preferred Stock, with proceeds allocated for general corporate purposes and ad-tech operations.</li>



<li>Helius Medical Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HSDT#NASDAQ">HSDT</a>) dropped 10.69% after reports that it plans to sell up to $25 million in common stock.</li>



<li>Penguin Solutions Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENG#NASDAQ">PENG</a>) rose 2.01% in premarket on Tuesday as analysts expect it to report earnings of 33 cents per share on the revenue of $328.81 million after the closing bell.</li>



<li>Saratoga Investment Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAR#NYSE">SAR</a>) was up 0.23% as it is expected to report earnings after market close. Analysts estimate earnings of 93 cents per share on revenue of $32.29 million.</li>



<li>Kura Sushi USA Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KRUS#NASDAQ">KRUS</a>) advanced 1.62% as analysts expect it to report a quarterly loss of 1 cent per share on revenue of $71.83 million after the closing bell.</li>



<li>Merit Medical Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MMSI#NASDAQ">MMSI</a>) gained 0.97% after naming Martha Aronson as President and CEO and said it sees preliminary second-quarter revenue of $380 million to $384 million.</li>



<li>Ascentage Pharma Group International ADR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPG#NASDAQ">AAPG</a>) was 0.29% above the flatline after naming Dr. Veet Misra as Chief Financial Officer and Eric Huang as Senior Vice President of Global Corporate Development and Finance.</li>
</ul>



Commodities, Gold, And Global Equity Markets:



Crude oil futures were trading lower in the early New York session by 0.77% to hover around $67.41 per barrel.



Gold Spot US Dollar fell 0.31% to hover around $3,326.03 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was lower by 0.18% at the 97.3020 level.



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



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/07/46269226/stocks-just-hit-rare-golden-cross-for-1st-time-since-2023-heres-what-it-means-for-investors">Stocks Just Hit Rare Golden Cross For 1st Time Since 2023 — Here&#8217;s What It Means For Investors</a></li>
</ul>



Photo courtesy: godongphoto / Shutterstock.com

AAPG

BSGM

COGT

CORZ

HSDT

KRUS

MMSI

PENG

US Stocks Likely To Open Mixed As Trump Issues Tariff Letters: Experts Peg AI Investments As 'Durable Drivers Of Returns'

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



U.S. stocks settled lower on Monday, with the Dow Jones index falling more than 400 points during the session after President Donald Trump officially announced sweeping 25% tariffs on all imports from Japan and South Korea, starting Aug. 1. The new tariffs apply to all goods from the two Asian economies and are in addition to any existing sector-specific duties.



Cogent Biosciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COGT#NASDAQ">COGT</a>) announced topline results from Part 2 of the SUMMIT trial of bezuclastinib for non-advanced systemic mastocytosis, showing clinically meaningful and statistically significant improvements across the primary and all key secondary endpoints. Core Scientific Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CORZ#NASDAQ">CORZ</a>) shares fell around 18% on Monday after CoreWeave announced plans to acquire the company in an all-stock deal.



Most sectors on the S&amp;P 500 closed on a negative note, with consumer discretionary, materials and energy stocks recording the biggest losses on Monday. However, consumer staples and utilities stocks bucked the overall market trend, closing the session higher.



The Dow Jones closed lower by 422 points to 44,406.36 on Monday. The S&amp;P 500 fell 0.79% to 6,229.98, while the Nasdaq Composite dipped 0.92% to 20,412.52 during Monday's session.



Investors are awaiting earnings results from Penguin Solutions Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENG#NASDAQ">PENG</a>), Saratoga Investment Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAR#NYSE">SAR</a>) and Kura Sushi USA Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KRUS#NASDAQ">KRUS</a>) today.



What is CNN Business Fear &amp; Greed Index?



At a current reading of 75.1, the index remained in the &#8220;Extreme Greed&#8221; zone on Monday, versus a prior reading of 78.5.



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



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/analyst-stock-ratings/price-target/25/07/46271576/5-stock-picks-last-week-from-wall-streets-most-accurate-analysts-8">5 Stock Picks Last Week From Wall Street&#8217;s Most Accurate Analysts</a> </li>
</ul>



Photo courtesy: Shutterstock

Trump Tariffs Sink Dow Over 400 Points: Investor Sentiment Declines, But Fear & Greed Index Remains In 'Extreme Greed' Zone

Leading cryptocurrencies fell Monday as President Donald Trump&#8216;s fresh tariffs on Japan and South Korea spurred risk-off sentiment. 



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 9:20 p.m. ET)</th></tr></thead><tbody><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>-0.36%</td><td>$108,488.50</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>-0.28%</td><td>$2,552.85</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>-1.41%</td><td>$0.1685</td></tr></tbody></table></figure>



What Happened: Bitcoin slipped to an intraday low of $107,527.06 but recovered to $108,000 by late evening. Trading volume rose 18% in the last 24 hours, signaling high selling pressure.



Ethereum wobbled around $2,500, reaching an intraday low of $2,517.90 in the afternoon.



Bitcoin's market dominance increased to 64.5%, while the shares of Ethereum and other altcoins declined.



In the past 24 hours, 76,424 traders were liquidated, with total liquidations at $164.05 million. More than $115 million in bullish longs were wiped out.



Meanwhile, more than 60% of Binance derivatives traders with open BTC positions were short as of this writing.



The "Greed" sentiment weakened from 73 to 65 in the last 24 hours, according to the Crypto Fear &amp; Greed Index.



Top Gainers (24 Hours)



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 9:20 p.m. ET)</th></tr></thead><tbody><tr><td>XDC Network (XDC)</td><td>+5.79%</td><td>$0.06688</td></tr><tr><td>AB (AB)&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+3.42%</td><td>$0.00841</td></tr><tr><td>GateToken (GT)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+2.51%</td><td>$15.56 </td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.35 trillion, sliding 0.40% in the last 24 hours.



Stocks tumbled at the start of a new trading week. The Dow Jones Industrial Average declined 422.17 points, or 0.94%, to end at 44,406.36. The S&amp;P 500 fell&nbsp; 0.79% to close at 6,229.98, while the tech-focused Nasdaq Composite lost 0.92%, ending at 20,412.52.



Trump announced <a href="https://www.benzinga.com/markets/equities/25/07/46281204/wall-street-today-trump-tariffs-japan-south-korea-stocks-drop">sweeping 25% tariffs</a> on all imports from Japan and South Korea, starting Aug. 1. The hike comes after a 90-day negotiation window, set on April 9, expired without a deal.



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



Analyst Notes: Widely followed cryptocurrency analyst and trader Ali Martinez cited historical cycles to suggest that Bitcoin's next market top is six months away.



"If this bull cycle mirrors the last two, we could be 6 months away from the next market top."



<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">If this bull cycle mirrors the last two, we could be 6 months away from the next market top! <a href="https://t.co/Yr6lXtUYVg">pic.twitter.com/Yr6lXtUYVg</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1942103788208148571?ref_src=twsrc%5Etfw">July 7, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



On-chain analytics firm CryptoQuant drew attention to Bitcoin's bounce above the 365-day Simple Moving Average, a level that has historically served as strong support.



"Historically, as long as MVRV stays above its SMA365, the uptrend tends to continue," CryptoQuant added.



MVRV, a shorthand for Market Value to Realized Value, is a ratio used to assess the value of a cryptocurrency by comparing its current market value to its realized 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">Bitcoin MVRV Bounces off 365-Day Average: Trend Still Alive? "Historically, as long as MVRV stays above its SMA365, the uptrend tends to continue. MVRV &gt; SMA365 → Bull trend intact." – By <a href="https://twitter.com/burak_kesmeci?ref_src=twsrc%5Etfw">@burak_kesmeci</a> <a href="https://t.co/iwxEQ9t3OH">pic.twitter.com/iwxEQ9t3OH</a>&mdash; CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1942109256167084357?ref_src=twsrc%5Etfw">July 7, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



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



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



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46272572/scottie-pippen-is-watching-bitcoin-xrp-dogecoin-and-what-else">Scottie Pippen Is Watching Bitcoin, XRP, Dogecoin&#8230;And What Else?</a></li>
</ul>

Bitcoin, Ethereum, Dogecoin Dip On Macro Jitters From Trump's Japan, South Korea Tariffs: Analyst Says BTC 6 Months Away From Top If History Repeats

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