Clear signs of a slowing labor market echoed through Wall Street on Wednesday, after private-sector job growth plunged to a more than two-year low, stoking investor concerns that trade headwinds are starting to bite while fueling President Donald Trump&#8216;s pressure on the Federal Reserve <a href="https://www.benzinga.com/news/econ-s">to lower interest rates. </a>



U.S. private employers added just 37,000 jobs in May, down from 62,000 in April, an Automatic Data Processing Inc. National Employment report showed Wednesday.



The outcome sharply missed economists&#8217; expectations of 115,000 and marked the lowest reading since March 2023. 



&#8220;ADP number out!!! &#8220;Too Late&#8221; Powell must now lower the rate. He is unbelievable!!! Europe has lowered nine times!,&#8221; Trump wrote on Truth social, shortly after the release.



"After a strong start to the year, hiring is losing momentum," said Nela Richardson, chief economist at Automatic Data Processing Inc. "Pay growth, however, was little changed in May, holding at robust levels for both job-stayers and job-changers."



In May, workers who stayed in their roles saw year-over-year wage growth of 4.5%, a steady pace from previous months. Those who changed jobs saw pay rise by 7%, also unchanged from April's revised figure.



While ADP's figures often differ from the official government data, the weak print adds weight to expectations of a broader labor market slowdown. The Bureau of Labor Statistics will publish its May Employment Situation Report on Friday, with nonfarm payrolls expected to rise by 130,000—down from April's 170,000 gain.



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



The dollar tanked minutes after the release, with the greenback sliding past 1.14 against the euro. The Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) – which tracks the broader U.S. dollar index (DXY) – is down 0.5% in the premarket. 



Futures on major U.S. indices were broadly steady by 8:25 a.m. in New York. On Tuesday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) closed 0.6% higher. 



Yields on 2-year U.S. Treasury notes dropped to 3.92% as traders ramped up bets on upcoming Federal Reserve rate cuts. The 10-year yield also slipped, falling 5 basis points to 4.41%.



Fed funds futures now imply two interest rate cuts by the end of the year, with the first move expected to come in October, as per CME FedWatch tool.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/economic-data/25/06/45758298/april-inflation-print-was-the-last-vestige-of-pre-tariff-impact-feds-goolsbee-says">April Inflation Print Was The &#8216;Last Vestige&#8217; Of Pre-Tariff Impact, Fed&#8217;s Goolsbee Says </a></li>
</ul>



 Photo: Shutterstock

Econ #s

US Private Sector Hiring Slows The Most In 2 Years: 'Powell Must Now Lower The Rate,' Trump Says

Counterpoint Research has cut growth expectations for <a href="https://www.benzinga.com/topic/smartphones" target="_blank" rel="noreferrer noopener">global smartphone shipments</a> in 2025 to 1.9% on Wednesday, down from 4.2% previously, citing Trump administration tariff-related uncertainties.



The firm also revised shipment growth from China down to near flat and expects Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Samsung Electronics (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>)&nbsp;shipments to slow as the companies pass the <a target="_blank" href="https://www.counterpointresearch.com/report/market-monitor-smartphone-brand-shipment-analysis-by-model-q1-2025" rel="noreferrer noopener">cost burden on</a> consumers.



President Trump announced a series of tariffs on its trading partners on April 2 to encourage manufacturing in the U.S.



Also Read: <a target="_blank" href="https://www.benzinga.com/news/global/25/04/44796659/apple-tops-global-smartphone-sales-with-19-share-boosted-by-iphone-16e-emerging-market-growth" rel="noreferrer noopener">Apple Tops Global Smartphone Sales With 19% Share, Boosted By iPhone 16e, Emerging Market Growth</a>



On May 12, Beijing and Washington&nbsp;<a target="_blank" href="https://www.benzinga.com/government/regulations/25/05/45676270/chinese-stocks-soar-as-us-court-blocks-trump-tariffs" rel="noreferrer noopener">agreed to lower&nbsp;tariffs</a> on each other's products, temporarily offering relief to the stock market. The deal reduced U.S. levies of 145% on most Chinese imports to 30%, while China's 125% duties on U.S. goods will drop to 10% for 90 days.



Last week, International Data Corporation&nbsp;(IDC)&nbsp;in its research report cut the 2025 <a href="https://www.benzinga.com/news/25/05/45708416/apple-iphone-shipment-could-decline-in-2025-as-tariff-competition-play-spoil-sport-idc" target="_blank" rel="noreferrer noopener">global smartphone shipment</a> growth outlook to 0.6% from 2.3%.



IDC expects China smartphone shipments to grow by 3% in 2025, driven by government subsidies.



In contrast,&nbsp;Apple&nbsp;is forecast to decline 1.9% in 2025 due to ongoing competition from&nbsp;Huawei, the overall economic slowdown, and the lack of subsidies for most of its models.



IDC expects the U.S. smartphone shipment to grow 1.9% in 2025, down from 3.3% in 2017, due to increased uncertainty and tariff-related price increases.



Meanwhile, Deepwater Research&#8217;s&nbsp;Gene Munster estimated that Apple has <a href="https://www.benzinga.com/markets/tech/25/06/45764870/apple-has-at-least-two-years-before-losing-customers-despite-its-several-ai-missteps-says-gene-munster-heres-why" target="_blank" rel="noreferrer noopener">about two years</a> to perfect its AI strategy, but it will require increased investments.



The AI features of smartphones are the<a target="_blank" href="https://www.benzinga.com/analyst-ratings/price-target/25/04/44613270/apple-set-for-strong-iphone-upgrade-cycle-driven-by-ai-analyst-says" rel="noreferrer noopener"> key deciding factor</a> determining their prospects.



<h2 class="wp-block-heading">Apple Stock Prediction For 2025</h2>



Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.



Shares of Apple have an average 1-year price target of $238.79, representing an expected upside of 17.47%.



Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. 3 analysts have bearish recommendations on Apple, while 21 analysts have bullish ratings. The street high price target from Wedbush is $325.0, while the street low from Jefferies is $167.88.



APPL Price Action: Apple stock is down 0.50% to $202.26 premarket at last check Wednesday.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/06/45756083/which-internet-software-stocks-is-jp-morgan-bullish-on" target="_blank" rel="noreferrer noopener">Which Internet Software Stocks Is JP Morgan Bullish On?</a></li>
</ul>



Image by Wongsakorn 2468 via Shutterstock

News

Tech

Trading Ideas

AAPL

SSNLF

Tariffs, AI And Trade War: Apple's Smartphone Growth To Take A Hit, Experts Say

Tariffs continue to dominate market headlines in the United States and abroad. Last week, the <a href="https://www.benzinga.com/25/05/45660322/trump-tariffs-struck-down-by-federal-court-major-blow-to-white-houses-trade-strategy-report">U.S. Court of International Trade ruled</a> that President Trump&#8217;s so-called &#8220;Liberation Day&#8221; tariffs exceeded his authority under the International Emergency Economic Powers Act (IEEPA).



Markets rallied on the news, but the case will likely go all the way to the Supreme Court, where it will join a slew of other tariff cases. But Trump isn&#8217;t stopping there. This week, he doubled tariffs on steel imports, setting off another wave of trade volatility.



Amid all this uncertainty, investors are increasingly looking elsewhere. While the S&amp;P 500 is nearly flat for the year, European indices have soared. For example, the iShares Core MSCI Europe ETF (IEUR) is up by more than 23%.



With Trump&#8217;s recent pause on further tariffs on the European Union, that momentum looks like it&#8217;s set to continue.



Here are four promising European stocks set to thrive from the tariff pause.



Each company has a market capitalization of at least $2 billion, a projected EPS growth rate of at least 10% over the next five years, net profit margins exceeding 10% in its most recent earnings report, and a forward P/E ratio of no more than 20.



<h2 class="wp-block-heading">nVent Electric plc</h2>



nVent Electric  (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVT#NYSE">NVT</a>) is a UK-based large-cap firm that manufactures an extensive range of electrical components, fasteners and enclosures, which would have been hit hard by Trump's proposed tariff policy. The stock had rallied from a multi-year low following the reciprocal tariff pause and could be poised for another leg higher now that the EU tariffs have been put on ice.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXc0WMqJfVAzkuy18gp-6-Bho9-e7CgrnpdAaKFcHL_HMB5S-wQosTyeYjlVVdKzhvf45VdrkQAPH9LUGUsh8BjThXIQnqeNm7SBcTsb7tRGEqctqdYZYGWnjPilWBHW6Oj_TW2sSA?key=nWxj8Tty4gxaS1aXDeEkIg" alt=""/></figure>



NVT receded to June 2023 levels following the initial Liberation Day tariff announcement. However, the subsequent pause and rally have seen shares break through the 50-day and 200-day simple moving averages (SMAs) for the first time since January. Bullish fundamentals support the technical signals; the company expects EPS growth of nearly 15% over the next five years and its profit margins are among the best in the electrical equipment manufacturing industry.



nVent Electric announced top- and bottom-line earnings beats on May 2 and received three analyst price target boosts afterward, including a $75 mark from RBC Capital, hinting at a potential upside of over 13%.



<h2 class="wp-block-heading">Aon plc&nbsp;</h2>



Aon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AON#NYSE">AON</a>) is one of the most prominent European insurance firms with 50,000 employees and offices in over 120 countries. Like many EU-based companies, its stock sank with the Liberation Day tariff announcement, dropping back to August 2024 levels by the end of April. However, shares are exhibiting technical signs of a breakout, and the company's underlying fundamentals could spark more bullish activity in the coming weeks.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdB_tiSE8UHEz4hhQBe6gixxwmPrSTtiBX9pwjMjOLb2wFACWSOGPBGIvVbYqUKd0bs5WSNWsObFmfpRetq5H9abxzy2puADIEhFxsRC2xLAljSzdvePV8Ot-PJOfBDIlIXSbyw?key=nWxj8Tty4gxaS1aXDeEkIg" alt=""/></figure>



Aon has strong margins for an insurer, with an 89% gross margin and a 15.5% profit margin in the most recent quarter. While the company missed both EPS and revenue in the report, it didn't stop Goldman Sachs analysts from upgrading the stock to a Buy with a price target of $408, indicating an upside potential of nearly 13%.



The stock's Benzinga Edge Momentum score of 76.55 also suggests a trend reversal could be forming as shares break out above the 14-day and 21-day SMAs. The Relative Strength Index (RSI) is 49, well below the overbought threshold of 70.



<h2 class="wp-block-heading">Ryanair Holdings plc&nbsp;</h2>



One stock with no shortage of momentum lately is Ryanair Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RYAAY#NASDAQ">RYAAY</a>), the largest low-cost airline carrier in Europe. The company recently announced that it flew over 200 million passengers in a year for the first time in its history. Its fair value, consistent growth, and strong momentum make it one of the more attractive European equities in 2025.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfhDuNW6JUrSUj22OO3w_HTSBhefpGV9z5_STg9VJA9lqV-Ctj2fmSl9prSV4864YkwHu8xY06ySMCmz4vhxjl43jx_EvaUPWANNpbD8OCfszVZNiLMFaTlUY8rvvwvmXjRUWkY3w?key=nWxj8Tty4gxaS1aXDeEkIg" alt=""/></figure>



From a technical standpoint, Ryanair flashed a Golden Cross in February, one of the strongest bullish signals, as the 50-day SMA crossed the 200-day SMA. However, Trump's tariff announcement halted this rally, and shares actually declined in the preceding weeks despite the Golden Cross signal. However, now that the tariffs are paused, the stock has shot straight up, taking out both the 50-day and 200-day SMAs as it approaches the all-time high setback in March 2024.



Ryanair trades at just 12 times forward earnings and expects EPS growth of 30% this year and more than 18% over the next five years. The company posted a narrower-than-expected loss in Q1 2025 and beat revenue expectations by 6%. Benzinga Edge also loves the stock with a Growth score of 96.35 and a Momentum score of 86.28. Don't sleep on Ryanair Holdings this summer, especially if consumer sentiment improves now that the harshest tariffs have been rescinded.



<h2 class="wp-block-heading">ING Groep N.V.&nbsp;</h2>



Last but certainly not least is ING Groep N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ING#NYSE">ING</a>), a large-cap bank based in the Netherlands with a market capitalization of $65 billion and annual sales exceeding $24 billion. The stock also has one of the best-looking charts you'll find and a Benzinga Edge Momentum score of 89.08. ING has a great combination of technical tailwinds and fundamental infrastructure, making it one of our top international picks for 2025.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfo06zsLjegvLbCnx072MbBCZIWikKwlhrmOTkmIMfJy-zYtaDxnXbWJVTGDb4iCxBb99F9o7Iqdsh_nZ0zJ073_KPc2Dcl720qGon3z0JqDVVwjOFGcoB_Pwqqr0KTW4uWVJw-Vg?key=nWxj8Tty4gxaS1aXDeEkIg" alt=""/></figure>



The daily chart shows why the stock currently has such strong momentum. Like RYAAY, shares of ING also witnessed a Golden Cross forming in March but didn't have as steep a drawdown. Once the tariffs were removed, ING shares quickly broke through the 50-day and 200-day SMAs, and more gains could be ahead as the RSI remains below overbought levels.



ING trades at just 8 times forward earnings and expects EPS growth of 12.6% over the next five years. The company also boasts strong profit margins (27.7% in the most recent quarter) and pays a 5% dividend yield accompanied by a 47% dividend payout rate. ING investors get the best of both worlds: steady income and the potential for market-beating growth.



<h2 class="wp-block-heading">Matt Maley's Strategy For June's Volatile Market &#8211; Live Today, June 4</h2>



Markets are flashing mixed signals—tech is stalling, small caps are diverging, and rate pressure is rising. In this live session, 42-year Wall Street veteran Matt Maley will break down how he's positioning for the next big swing using his proven volatility framework. You'll see the reversal signals he's watching, the stocks he's targeting now, and how he quickly manages risk when momentum shifts. Claim your free seat <a href="https://events2.benzinga.com/matt-maley-webinar-wed-june4-2025-registration/?utm_campaign=webinar060425&amp;utm_adType=sponsorad&amp;utm_ad=RD060425&amp;he={{email}}&amp;adt_ei={{email}}&amp;utm_medium=newsletter">HERE</a>.



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



Photo: Shutterstock

Opinion

RYAAY

4 Stocks To Buy On EU Tariff Pause

U.S. stock futures were slightly higher on Wednesday after advancing for two consecutive days. Futures of major benchmark indices rose slightly in premarket.



On Wednesday morning, a tariff increase signed by Donald Trump on Tuesday evening <a href="https://www.benzinga.com/news/topics/25/05/45708977/trump-doubles-steel-tariffs-to-50-saying-it-will-secure-american-jobs-backs-us-steels-takeover-by-japans-nippon">took effect</a>, raising duties on steel and aluminum imports from 25% to 50%, with the UK being the sole trading partner exempted from this hike. 



This latest action by the president intensifies ongoing trade disputes between the U.S. and major partners like China and the EU.



Meanwhile, the 10-year Treasury bond yielded 4.47% and the two-year bond was at 3.96%. 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 98.7% likelihood of the Federal Reserve keeping the current interest rates unchanged in its June 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>0.11%</td></tr><tr><td>S&amp;P 500</td><td>0.13%</td></tr><tr><td>Nasdaq 100</td><td>0.07%</td></tr><tr><td>Russell 2000</td><td>0.29%</td></tr></tbody></table></figure>



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, rose in premarket on Wednesday. The SPY was up 0.18% at $597.17, while the QQQ advanced 0.16% to $528.17, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From Last Session:



Sectoral moves led U.S. stocks to close higher on Tuesday. Most S&amp;P 500 sectors ended positively, with energy, materials, and information technology stocks posting the largest gains.



However, communication services and real estate stocks defied the broader market trend, finishing the session in the red.



Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) shares soared approximately 3%. Dollar General Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DG#NYSE">DG</a>) shares skyrocketed about 16% after the company announced stronger-than-anticipated first-quarter earnings and boosted its full-year forecast.



Signet Jewelers Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIG#NYSE">SIG</a>) shares climbed more than 12% on Tuesday following better-than-expected first-quarter financial results and an upward revision of its FY26 guidance.



On the economic data front, U.S. job openings grew by 191,000 to 7.391 million in April, surpassing market expectations of 7.10 million. New orders for U.S.-manufactured goods fell 3.7% month-over-month to $594.6 billion in April, compared to a 3.4% increase in March.



The Dow Jones index ended 214 points or 0.51% higher at 42,519.64, whereas the S&amp;P 500 index rose 0.58% to 5,970.37. Nasdaq Composite advanced 0.81% to 19,398.96, and the small-cap gauge, Russell 2000, gained 1.59% to end at 2,102.98.



<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>0.81%</td><td>19,398.96</td></tr><tr><td>S&amp;P 500</td><td>0.58%</td><td>5,970.37</td></tr><tr><td>Dow Jones</td><td>0.51%</td><td>42,519.64</td></tr><tr><td>Russell 2000</td><td>1.59%</td><td>2,102.98</td></tr></tbody></table></figure>



Insights From Analysts:



Jim Cramer cautioned that President Trump's erratic trade policies are <a href="https://www.benzinga.com/markets/equities/25/06/45763260/jim-cramer-says-trump-is-distorting-pretty-much-everything-and-thats-making-it-difficult-to-value-stocks-people-would-just-rather-be-short">skewing stock valuations</a> and encouraging short sellers anticipating daily market drops. 



The host of CNBC's "Mad Money" stated that Trump's tariff threats and aggressive global stance are rendering accurate stock pricing almost unachievable.



"When you examine the market's mistakes, they share a common theme: the president's distorting pretty much everything, especially with his tariffs and his jingoistic approach to the rest of the world," reported CNBC.



He also explained that in such a situation, investors would rather be short as they expect the market to come down every day.



Talking about equities, analysts at BlackRock said in their weekly note that they have flipped back to being pro-risk in April.



This came after &#8220;it became clear that hard economic rules limit how far U.S. policy can move from the status quo, such as how foreign investors fund U.S. debt,&#8221; the note stated.



&#8220;Our U.S. equity overweight relies on that rule, just as another rule – supply chains can't rewire overnight without serious disruption – proved binding on trade policy. This overweight is grounded in the artificial intelligence mega force – reinforced by Nvidia's earnings beat last week,&#8221; BlackRock&#8217;s note stated.



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>May&#8217;s ADP employment data will be out by 8:15 a.m. ET.</li>



<li>May&#8217;s S&amp;P final U.S. services PMI will be released at 9:45 a.m., and ISM services data will be out by 10:00 a.m. ET.</li>



<li>Atlanta Fed President Raphael Bostic and Federal Reserve Governor Lisa Cook will speak at the Fed listens event at 10:15 a.m. ET.</li>



<li>Fed Beige Book will be out by 2:00 p.m. ET.</li>
</ul>



Stocks In Focus:



<ul class="wp-block-list">
<li>Dollar Tree Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>) rose 1.84% in premarket on Tuesday as analysts expect it to report quarterly earnings of $1.20 per share on revenue of $4.54 billion, before the opening bell.</li>



<li>Thor Industries Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THO#NYSE">THO</a>) fell 0.19% ahead of its earnings, which are supposed to be released before the opening bell. Analysts expect earnings of $1.76 per share on revenue of $2.61 billion.</li>



<li>PVH Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PVH#NYSE">PVH</a>) was 1.79% higher as analysts expect it to report quarterly earnings of $2.24 per share on revenue of $1.93 billion, before the opening bell.</li>



<li>Crowdstrike Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) dropped 6.5% as it expected second-quarter revenue to be between $1.145 billion and $1.152 billion, versus estimates of $1.23 billion.</li>



<li>Hewlett-Packard Enterprise Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) advanced 5.14% after reporting better-than-expected second-quarter earnings after the market closed on Tuesday.</li>



<li>Kosmos Energy Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KOS#NYSE">KOS</a>) gained 1.10% after it signed a memorandum of understanding with other firms to extend Ghana production licenses to 2040.</li>



<li>Mastercard Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>) was up 0.081% and PayPal Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) rose 0.38% after the two firms partnered on Mastercard One Credential to allow consumers to choose their payment method at checkout.</li>
</ul>



Commodities, Gold, And Global Equity Markets:



Crude oil futures were trading lower in the early New York session by 0.52% to hover around $63.08 per barrel.



Gold Spot US Dollar rose 0.26% to hover around $3,362.08 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was lower by 0.16% at the 99.0700 level.



Asian markets closed higher on Wednesday as India's S&amp;P BSE Sensex, Japan's Nikkei 225, South Korea's Kospi, Australia's ASX 200, China&#8217;s CSI 300, and Hong Kong's Hang Seng 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/25/06/45764818/bill-ackman-urges-end-to-fannie-mae-freddie-mac-conservatorship-says-will-enable-them-to-operate-more-successfully-and-efficiently">Bill Ackman Urges End To Fannie Mae, Freddie Mac Conservatorship: Says Will Enable Them To &#8216;Operate More Successfully And Efficiently&#8217; </a></li>
</ul>



Photo courtesy: godongphoto / Shutterstock.com

Equities

CRWD

DLTR

NVDA

PYPL

Dow Futures Edge Higher After Two Days Of Gains: Expert Says Trump Tariffs 'Distorting Pretty Much Everything'

Deepwater&#8217;s Gene Munster, a prominent tech analyst, has shared his insights on Apple Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) upcoming Worldwide Developers Conference (WWDC) and the company&#8217;s future in artificial intelligence (AI).



What Happened: In a post on X on Tuesday, Munster suggested that the WWDC would focus on traditional operating system updates, leaving investors questioning Apple&#8217;s timeline for losing customers. He estimated that Apple has about two years to get its AI strategy right, but it will require increased investments.



<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">WWDC Preview: Should be heavy on old school OS updates. Investors will be left asking the question, how long does <a href="https://twitter.com/search?q=%24AAPL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AAPL</a> have before they start losing customers? My take is at least two years.<a href="https://t.co/lL4tpHWof6">https://t.co/lL4tpHWof6</a>&mdash; Gene Munster (@munster_gene) <a href="https://twitter.com/munster_gene/status/1929934261865390290?ref_src=twsrc%5Etfw">June 3, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



In a detailed report, Munster emphasized that Apple&#8217;s customer base, which is highly loyal due to the seamless integration of Apple products and services, gives the company a significant advantage. He pointed out that an average Apple customer owns 1.7 devices and uses 1.5 services.



Munster also pointed out that the current competition in AI devices is lagging behind, with no &#8220;must-have&#8221; features compelling Apple users to switch. He concluded by noting that the much-anticipated AI-first device from the Jony Ive–Sam Altman collaboration is expected to be unveiled next year and released in 2026.



However, he highlighted the importance of increased investment in AI as Apple is lagging in this area. Since 2021, Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Google (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Meta (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) have ramped up capital expenditures by about 30% annually to support AI growth, with average spending rising from $30 billion in 2021 to an estimated $77 billion by 2025. In contrast, Apple's capex has remained flat at around $11 billion, even slightly declining by 1%.



Munster believes investing more is the right strategy to ensure long-term control over features and privacy, which requires owning a top-tier AI model.



SEE ALSO:&nbsp;<a href="https://benzinga.com/news/politics/25/06/45764329/130-days-of-elon-musk-elizabeth-warren-releases-blistering-report-accusing-tesla-ceo-of-more-than-1" target="_blank" rel="noreferrer noopener">&#8216;130 Days Of Elon Musk&#8217;: Elizabeth Warren Releases Blistering Report Accusing Tesla CEO Of More Than 100 Power Abuses</a>



Why It Matters:&nbsp;Munster&#8217;s predictions come at a crucial time for Apple, which has been facing criticism over its AI efforts. In March, ahead of Apple&#8217;s annual Top 100 executive retreat, Munster had&nbsp;<a href="https://www.benzinga.com/media/25/03/44350512/apples-ai-crisis-reaches-boiling-point-ahead-of-top-100-executive-retreat-tim-cook-and-key-execs-called-out-over-siri-failure-by-top-analyst">called out the company&#8217;s stalled AI efforts</a>. The retreat was seen as an opportunity for Apple to address these concerns.



However, in April, it was reported that Apple had&nbsp;<a href="https://www.benzinga.com/tech/25/04/45029758/apples-ai-team-undergoes-major-restructuring-amidst-performance-concerns">undergone a major restructuring of its AI team</a>&nbsp;due to performance concerns. This move, which involved shifting elements to different departments within the organization, indicated that Apple was taking the criticism seriously and working to improve its AI capabilities.



Despite the challenges, Munster&#8217;s recent comments suggest that Apple still has a window of opportunity to strengthen its position in the AI market, provided it makes the right investments and improvements.



Benzinga&#8217;s Edge Rankings place Apple in the 79th percentile for quality and the 33rd percentile for growth, reflecting mixed performance. Check the detailed report&nbsp;<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound" target="_blank" rel="noreferrer noopener">here</a>.&nbsp;



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04044430/Screenshot-2025-06-04-at-2.14.19%E2%80%AFPM.png" alt="" class="wp-image-937846"/></a></figure>



On a year-to-date basis, the shares of Apple dropped 16.64%, according to data from <a href="http://pro.benzinga.com">Benzinga Pro.</a>



<ul class="wp-block-list">
<li>READ MORE:&nbsp;<a href="https://www.benzinga.com/news/politics/25/06/45762787/peter-schiff-backs-musks-furious-attack-on-trumps-disgusting-budget-bill-slams-gop-hypocrisy-so-glad-hopefully-elon-can-persuade-trump-to-veto-it" target="_blank" rel="noreferrer noopener">Peter Schiff Backs Musk&#8217;s Furious Attack On Trump&#8217;s &#8216;Disgusting&#8217; Budget Bill, Slams GOP Hypocrisy: &#8216;So Glad &#8230; Hopefully Elon Can Persuade Trump To Veto It&#8217;</a></li>
</ul>



Image via Shutterstock



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

Markets

AMZN

GOOG

GOOGL

MSFT

Apple Has 'At Least Two Years' Before Losing Customers Despite Its Several AI Missteps, Says Gene Munster — Here's Why

Piper Sandler analyst Alex Potter says that Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is the only automaker trying to source batteries from non-Chinese routes at scale as Elon Musk stresses the importance of localization.



What Happened: "Tesla is the only car company that is trying to source batteries, at scale, without relying on China,&#8221; a post shared by influencer Sawyer Merritt on X on Tuesday cited the note released by Potter.



The note also said that Tesla will become completely self-sufficient in the future and produce the components required to manufacture batteries, including raw materials.



"Eventually, Tesla will be making its own cathode active materials, refining its own lithium, building its own anodes, coating its own electrodes, assembling its own cells, and selling its own cars," the note said.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Piper Sandler analyst Alex Potter in new <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> note: &quot;Tesla is the only car company that is trying to source batteries, at scale, without relying on China.&quot; &quot;Eventually, Tesla will be making its own cathode active materials, refining its own lithium, building its own anodes,…&mdash; Sawyer Merritt (@SawyerMerritt) <a href="https://twitter.com/SawyerMerritt/status/1929911393806897557?ref_src=twsrc%5Etfw">June 3, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Musk also weighed in, saying it's important to establish local supply chains, despite the immense effort, for companies to "mitigate geopolitical risk."



<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">It is important, albeit extremely hard work, to localize supply chains to mitigate geopolitical risk&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1929913821814206888?ref_src=twsrc%5Etfw">June 3, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Why It Matters: Amid escalating tensions between the U.S. and China, <a href="https://www.benzinga.com/markets/tech/25/06/45763345/amid-us-china-trade-war-global-automakers-warn-beijings-curbs-on-rare-earth-metals-could-significantly-impact-production">automakers have raised concerns</a> about Beijing restricting the exports of rare earth metals and other minerals crucial for producing vehicles.



Tesla, meanwhile, reached the one-million production milestone of the Powerwall as the company says it produces 1,000 Powerwall units a day and is on pace to produce over 700,000 units annually, as the company grapples with <a href="https://www.benzinga.com/tech/25/05/45663820/tesla-deliveries-drop-87-in-quebec-in-q1-hitting-2-year-low-amid-incentive-cuts-musks-political-ties">dwindling sales </a>throughout the globe.



Elsewhere, the Trump administration has accused China of violating the Geneva Trade Agreement, something which the government strongly denies and has asked the U.S. to withdraw <a href="https://www.benzinga.com/markets/25/05/45664337/china-tells-us-to-entirely-revoke-wrongful-unilateral-tariffs-after-court-blocks-trumps-liberation-day-levies">the unilateral tariffs</a>.



TSLA scores well on Momentum, Growth, and Quality metrics, but offers poor Value. For more such insights, sign up for<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"> Benzinga Edge</a> today!



Check out more of Benzinga&#8217;s Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/06/45764059/ross-gerber-says-tesla-has-lot-of-work-to-do-on-fsd-ahead-of-robotaxi-launch-waymos-are-way-better">Ross Gerber Says Tesla Has &#8216;Lot Of Work To Do&#8217; On FSD Ahead Of Robotaxi Launch: &#8216;Waymos Are Way Better&#8217;</a></li>
</ul>



Photo courtesy: Shutterstock

TSLA

Elon Musk Says Localizing Supply Chains Key To 'Mitigate Geopolitical Risk' Amid US-China Trade Tensions

Leading cryptocurrencies fell on Tuesday ahead of the high-stakes call between President Donald Trump and Chinese President Xi Jinping. 



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th class="has-text-align-left" data-align="left">Cryptocurrency</th><th class="has-text-align-left" data-align="left">Gains +/-</th><th class="has-text-align-left" data-align="left">Price (Recorded at 9:30 p.m. ET)</th></tr></thead><tbody><tr><td class="has-text-align-left" data-align="left">Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td class="has-text-align-left" data-align="left">-0.59%</td><td class="has-text-align-left" data-align="left">$105,652.90</td></tr><tr><td class="has-text-align-left" data-align="left">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 class="has-text-align-left" data-align="left">-0.54%</td><td class="has-text-align-left" data-align="left">$2,613.79</td></tr><tr><td class="has-text-align-left" data-align="left">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 class="has-text-align-left" data-align="left">-1.47%</td><td class="has-text-align-left" data-align="left">$0.1952</td></tr></tbody></table></figure>



What Happened: Bitcoin reached an intraday high of $106,813.58 in the early trading hours before hitting a ceiling and falling back to the $105,000 region. Ethereum, the second-largest cryptocurrency, recorded a similar trajectory, rallying to $2,650 before reversing to the late $2,500s.&nbsp;



The two blue-chip currencies recorded a dip in 24-hour trading volumes.



The cryptocurrency market saw some drama <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45757170/trump-branded-crypto-wallet-sparks-controversy-trump-family-denies-involvement">after a cryptocurrency wallet bearing the Trump name surfaced</a>. However, the Trump family denied any involvement with the wallet.



About $155 million was liquidated from the cryptocurrency market in the last 24 hours, with bullish bets worth $94 million getting erased.



Bitcoin's Open Interest dropped 2.48% in the last 24 hours, while Ethereum experienced a 317% drop in funds locked in derivatives. Binance traders with open BTC positions increased their short exposure as the Long/Short ratio fell below 1.



The "Greed" sentiment lingered despite the pullback, according to the Crypto Fear &amp; Greed Index.&nbsp;



Top Gainers (24-Hours)



<figure class="wp-block-table alignleft"><table class="has-fixed-layout"><thead><tr><th class="has-text-align-left" data-align="left">Cryptocurrency</th><th class="has-text-align-left" data-align="left">Gains +/-</th><th class="has-text-align-left" data-align="left">Price (Recorded at 9:30 p.m. ET)</th></tr></thead><tbody><tr><td class="has-text-align-left" data-align="left">Sky (SKY)</td><td class="has-text-align-left" data-align="left">+6.17%</td><td class="has-text-align-left" data-align="left">$0.07867</td></tr><tr><td class="has-text-align-left" data-align="left">Quant (QNT) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td class="has-text-align-left" data-align="left">+5.74%</td><td class="has-text-align-left" data-align="left">$116.23</td></tr><tr><td class="has-text-align-left" data-align="left">UNUS SED LEO (LEO)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td class="has-text-align-left" data-align="left">+5.25%</td><td class="has-text-align-left" data-align="left">$8.98 </td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.33 trillion, following a dip of 0.31% in the last 24 hours.&nbsp;



Stocks rose further on Tuesday. The Dow Jones Industrial Average spiked 214.16 points, or 0.51%, to end at 42,519.64. The S&amp;P 500 gained 0.58% to close at 5,970.37, while the tech-heavy Nasdaq Composite climbed 0.81% to finish at 19,398.96.



The advance comes in <a href="https://www.benzinga.com/news/politics/25/06/45740331/trumps-man-to-man-diplomacy-wont-work-with-xi-jinping-warns-former-white-house-chief-of-staff-as-tariff-deadlock-continues">anticipation of a high-stakes call</a> between Trump and Jinping on trade deals, which the White House says is likely to take place this week.



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



Analyst Notes: Blockchain analytics firm CryptoQuant said Bitcoin was targeting $96,000, a key support level that aligns with the average purchase price of short-term investors.



"This level is considered a potential rebound point in the event of a mild price correction," CryptoQuant added. "If liquidity is available, it is advisable to wait and observe market movements, with the possibility of entering new positions after the anticipated correction completes."



<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 at Key Support: Market Awaits Post-Correction Entry Opportunity "Currently targeting the $96,700 level, which represents a key support zone on the network and aligns with the average purchase price of short-term investors." – By <a href="https://twitter.com/abramchart?ref_src=twsrc%5Etfw">@abramchart</a> <a href="https://t.co/9ydqKL6j9r">pic.twitter.com/9ydqKL6j9r</a>&mdash; CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1929811790654791830?ref_src=twsrc%5Etfw">June 3, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Widely followed cryptocurrency commentator BitBull dismissed talks of an Ethereum top, suggesting that it's "way too early."&nbsp;



"To me its looks like ETH is doing healthy retests. One more hit and it&#8217;s bound to break," the analyst said. "If it is true, Ethereum could send towards $3,000+ next."



<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">More <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> updates fams! Some people are yelling that this is the top of the cycle, which i think is way too early. To me its looks like ETH is doing healthy retests. One more hit and it&#39;s bound to break. We all gonna make it happen. If it is true, Ethereum could send towards… <a href="https://t.co/IaXm0a2cD2">pic.twitter.com/IaXm0a2cD2</a>&mdash; BitBull (@AkaBull_) <a href="https://twitter.com/AkaBull_/status/1929861982552760387?ref_src=twsrc%5Etfw">June 3, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo Courtesy: Antonio Gravante On Shutterstock.com



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



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45761254/congressman-buys-up-to-850k-in-bitcoin-in-2025-late-disclosure-close-trump-ties-wave-red-flags">Congressman Buys Up To $850K In Bitcoin In 2025: Late Disclosure, Close Trump Ties Wave Red Flags</a></li>
</ul>

Cryptocurrency

Movers

$BTC

$DOGE

$ETH

Bitcoin, Ethereum, Dogecoin Slip As Investors Anticipate Trump-Jinping Call: Too Early For An ETH Top? This Analyst Says $3000 Is On Target

On Tuesday, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk <a href="https://www.benzinga.com/news/politics/25/06/45757029/elon-musk-slams-congressional-spending-bill-as-a-disgusting-abomination">criticized</a> President Donald Trump's flagship spending bill, drawing praise from economist Peter Schiff for confronting what both see as Republican fiscal hypocrisy.



What Happened: Musk blasted the proposed legislation—dubbed the "One Big Beautiful Bill Act"—calling it a "disgusting abomination" that would massively inflate the federal deficit.&nbsp;



"Shame on those who voted for it: you know you did wrong. You know it," Musk wrote on X, formerly Twitter.



Musk, who has stepped down from his role as head of the Department of Government Efficiency, stated that the bill would push the annual deficit to $2.5 trillion and saddle Americans with "crushingly unsustainable debt."



See Also:&nbsp;<a href="https://www.benzinga.com/tech/25/05/45486639/sundar-pichai-reveals-google-parent-once-super-intensely-debated-about-buying-netflix-in-a-world-of-butterfly-effects" target="_blank" rel="noreferrer noopener">Sundar Pichai Reveals Google-Parent Once Super Intensely Debated About Buying Netflix: ‘In A World Of Butterfly Effects…&#8217;</a>



Economist and market commentator Schiff supported Musk's remarks, labeling the bill a fraud. "It will actually increase annual deficits by much more as the economic and interest rate assumptions are too optimistic," Schiff posted.



<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">It will actually increase annual deficits by much more as the economic and interest rate assumptions are too optimistic. Plus, the &quot;cuts&quot; that don&#39;t kick in for five years will never actually take effect. The entire bill is a fraud.&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1929964295133245467?ref_src=twsrc%5Etfw">June 3, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



"I'm so glad Elon is willing to call out the hypocrisy in the Republican party. He is a man of principle."



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I&#39;m so glad Elon is willing to call out the hypocrisy in the Republican party. He is a man of principle. The Big, Beautiful Bill is a fraud. Hopefully Elon can persuade Trump to veto it if it passes the Senate in its current form, or anything close to it. <a href="https://t.co/KqSAFVCe1i">https://t.co/KqSAFVCe1i</a>&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1929962299189801420?ref_src=twsrc%5Etfw">June 3, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Why It's Important: The bill, passed in the House by a single vote, would extend Trump's 2017 tax cuts and significantly boost military and border security spending.



The nonpartisan Congressional Budget Office estimates it would add $3.8 trillion to the national debt, which already stands at $36.2 trillion, reported Reuters.



On Tuesday, the White House brushed off <a href="https://www.benzinga.com/news/25/05/45635854/elon-musk-disappointed-with-trumps-big-beautiful-bill-says-it-undermines-the-work-that-the-doge-team-is-doing">Musk's latest criticism</a>, similar to how Trump had previously dismissed Musk&#8217;s objections to the legislation.



"The president already knows where Elon Musk stood on the bill," White House press secretary Karoline Leavitt stated during a briefing. "It doesn&#8217;t change the president&#8217;s opinion. This is one big, beautiful bill, and he&#8217;s sticking to it," the report noted.



Photo Courtesy: RKY Photo on Shutterstock.com



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/25/06/45714305/trumps-manufacturing-narrative-weakens-as-may-data-shows-sharper-contraction-stubborn-inflation" target="_blank" rel="noreferrer noopener">Trump's Manufacturing Narrative Weakens As May Data Shows Sharper Contraction, Stubborn Inflation</a></li>
</ul>



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

Government

Media

Peter Schiff Backs Musk's Furious Attack On Trump's 'Disgusting' Budget Bill, Slams GOP Hypocrisy: 'So Glad ... Hopefully Elon Can Persuade Trump To Veto It'

On Tuesday, Marjorie Taylor Greene (R-Ga.) demanded the removal of a <a href="https://www.benzinga.com/25/05/45481745/donald-trump-backed-gop-bill-seeks-to-ban-states-from-regulating-ai-for-10-years-critics-warn-its-federal-overreach-that-could-backfire">controversial AI provision</a> from President Donald Trump's sweeping tax-and-spending bill, warning she'll oppose it unless the Senate strikes it from the final version.



What Happened: Greene took to X, formerly Twitter, and said she was unaware that the "One Big Beautiful Bill" (OBBB) included a section barring states from regulating artificial intelligence for the next 10 years.



The provision appears on pages 278–279 and would prevent states from creating or enforcing AI-related laws, leaving regulation solely to the federal government.



"I am adamantly OPPOSED to this and it is a violation of state rights and I would have voted NO if I had known this was in there," she wrote on X.



See Also:&nbsp;<a href="https://benzinga.com/news/25/04/45090231/elon-musk-says-will-come-as-a-surprise-to-most-as-chinas-economy-surpasses-us-and-eu-amid-rising-tariffs-and" target="_blank" rel="noreferrer noopener">Elon Musk Says Will Come As A ‘Surprise To Most' As China's Economy Surpasses US And EU Amid Rising Tariffs And Growing Recession Fears</a>



<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">Full transparency, I did not know about this section on pages 278-279 of the OBBB that strips states of the right to make laws or regulate AI for 10 years. I am adamantly OPPOSED to this and it is a violation of state rights and I would have voted NO if I had known this was in… <a href="https://t.co/bip3hztSGq">pic.twitter.com/bip3hztSGq</a>&mdash; Rep. Marjorie Taylor Greene&#x1f1fa;&#x1f1f8; (@RepMTG) <a href="https://twitter.com/RepMTG/status/1929946902566494653?ref_src=twsrc%5Etfw">June 3, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Why It's Important: Previously, California state senator Scott Wiener described the measure as "truly gross," stating on social media that while Congress struggles to regulate AI effectively, it's simultaneously trying to prevent states from taking action too.



A bipartisan coalition of state attorneys general also expressed opposition. South Carolina Attorney General Alan Wilson, a Republican, said, "Instead of stepping up with real solutions, Congress wants to tie our hands."



Now, Greene's stance could jeopardize the bill's passage, as Republicans hold a narrow House majority and can only afford to lose three votes. Two GOP lawmakers already opposed the bill when it passed the House last month, <a href="https://thehill.com/policy/technology/5330705-greene-opposes-ai-regulation-provision/">reported</a> The Hill.



Photo Courtesy: Philip Yabut on Shutterstock.com



Read Next:



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<li><a href="https://benzinga.com/25/04/45071155/mild-recession-is-best-case-outcome-jpmorgan-ceo-jamie-dimon" target="_blank" rel="noreferrer noopener">JPMorgan CEO Jamie Dimon Warns Recession Is Best-Case Outcome Of Trump Trade War</a></li>
</ul>



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

Regulations

Marjorie Taylor Greene Says She's 'Adamantly Opposed' To Trump's 'Big Beautiful' Bill Over This AI Provision: 'I Would Have Voted NO If I Had Known This Was In There'

Nearly 80% of S&amp;P 500 companies exceeded earnings forecasts in the first quarter of 2025, helping the index post a 13.3% profit surge — its second straight quarter <a href="https://www.benzinga.com/earnings">of double-digit growth.</a>



According to the latest Earnings Insight report from FactSet, authored by vice president and senior earnings analyst John Butters, only 18% fell short of analyst forecasts.



About 98% of S&amp;P 500 companies now have reported first-quarter results. And up to 78% beat earnings-per-share (EPS) expectations—a figure that outpaces both the 5-year average of 77% and the 10-year average of 75%. 



&#8220;In aggregate, companies are reporting earnings that are 8.2% above expectations. This surprise percentage is above the 1-year average (+6.1%), below the 5-year average (+8.8%), and above the 10-year average (+6.9%),&#8221; Butters wrote. 



The "Magnificent Seven" — Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Microsoft Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>), Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), and Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) — outperformed the broader index.



Six of the seven companies beat EPS estimates (86%), with an average earnings surprise of 14.9%, nearly twice the S&amp;P 500 average.



See Also: <a href="https://www.benzinga.com/25/05/45517783/magnificent-7-stun-the-street-with-the-best-earnings-beat-since-2021">Magnificent 7 Stun The Street With Best Earnings Beat Since 2021</a>



<h3 class="wp-block-heading">Which Sectors Led The Upside?</h3>



Health Care topped the leaderboard with 92% of its constituents beating estimates, followed by Communication Services (87%) and Information Technology (86%). 



At the opposite end, Utilities and Energy sectors posted the weakest beat rates at 61% and 64%, respectively.



Communication Services delivered the strongest upside surprises, boasting an average earnings surprise of +23.8%. 



Meta Platforms Inc. beat by over $1 per share ($6.43 vs. $5.23), while Alphabet Inc. posted EPS of $2.81 against estimates of $2.02. 



Other strong performers included Electronic Arts Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>), Interpublic Group of Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IPG#NYSE">IPG</a>), News Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWSA#NASDAQ">NWSA</a>), and Walt Disney Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>).



Consumer Discretionary followed with a 9.4% surprise rate. Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>) surged past expectations with $24.81 in EPS vs. $17.37 forecast, while NIKE Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) posted $0.54 vs. $0.30.



Health Care delivered an 8.6% surprise, with Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) earning $0.92 per share vs. $0.67 estimate, and CVS Health Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) reporting $2.25 vs. $1.70. The sector also had the highest beat rate, with 92% of companies exceeding EPS forecasts.



<h3 class="wp-block-heading">Market Response: Positive Earnings Are Paying Off</h3>



Investors rewarded strong results. Companies that beat expectations saw their stock prices rise by an average of 1.9% from two days before to two days after earnings — the highest average gain since the third quarter of 2022. 



Conversely, companies that missed expectations saw a more muted decline of -1.9%, smaller than the 5-year average drop of -2.3%.



<h3 class="wp-block-heading">Valuations Are Getting Stretched</h3>



The forward 12-month price-to-earnings (P/E) ratio for the S&amp;P 500 rose to 21.3, above the 5-year average of 19.9 and the 10-year average of 18.4. 



That increase reflects a 5.4% rise in the index since March 31, while forward EPS estimates have slipped less than 0.1%.



By sector, Consumer Discretionary (28.1) and Information Technology (27.2) have the richest valuations, while Energy (14.6) trades at the lowest. 



The trailing 12-month P/E ratio also moved higher to 25.9, above the historical 5- and 10-year norms.



Now Read:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/etfs/new-etfs/25/06/45722678/magnificent-seven-closed-a-blockbuster-may-added-nearly-2-trillion-in-market-value">Magnificent Seven Closed A Blockbuster May, Added Nearly $2 Trillion In Market Value</a><span class="author" style="box-sizing: border-box; border: 0px solid rgb(229, 231, 235); --tw-scale-x: 1; --tw-scale-y: 1; --tw-pan-x: ; --tw-pan-y: ; --tw-pinch-zoom: ; --tw-scroll-snap-strictness: proximity; --tw-gradient-from-position: ; --tw-gradient-via-position: ; --tw-gradient-to-position: ; --tw-ordinal: ; --tw-slashed-zero: ; --tw-numeric-figure: ; --tw-numeric-spacing: ; --tw-numeric-fraction: ; --tw-ring-inset: ; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246/0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; --tw-blur: ; --tw-brightness: ; --tw-contrast: ; --tw-grayscale: ; --tw-hue-rotate: ; --tw-invert: ; --tw-saturate: ; --tw-sepia: ; --tw-drop-shadow: ; --tw-backdrop-blur: ; --tw-backdrop-brightness: ; --tw-backdrop-contrast: ; --tw-backdrop-grayscale: ; --tw-backdrop-hue-rotate: ; --tw-backdrop-invert: ; --tw-backdrop-opacity: ; --tw-backdrop-saturate: ; --tw-backdrop-sepia: ; --tw-contain-size: ; --tw-contain-layout: ; --tw-contain-paint: ; --tw-contain-style: ;"></li>
</ul>



Image: Shutterstock

Analyst Color

BKNG

NWSA

S&P 500 Q1 Earnings Stun Wall Street Again With Broad-Based Beats, Double-Digit Growth

Chicago Federal Reserve President Austan Goolsbee warned Tuesday that April&#8217;s softer inflation reading may be misleading, calling it possibly the "last vestige" of pre-tariff pricing, with more substantial upward pressure likely to <a href="https://www.benzinga.com/topic/inflation">appear in the coming months.</a>



Speaking during a moderated Q&amp;A at the Corridor Business Journal's 2025 Mid-Year Economic Review in Cedar Rapids, Iowa, Goolsbee emphasized that inflation data has so far shown "surprisingly little direct impact" from tariffs. But he cautioned that this may not last.



"If it's going to affect prices in a significant way, you would expect there's a one-month lag," Goolsbee said. "So that one would start showing up very soon."



<h3 class="wp-block-heading">Inflation Snapshot Misleading?</h3>



April's personal consumption expenditures (PCE) price index showed a 2.1% year-over-year increase—close to the Fed&#8217;s 2% target. 



Yet, Goolsbee said that number is backward-looking and likely underrepresents coming inflationary dynamics.



"What matters is what will the inflation rate be that's coming in."



He added, "We've had a couple of solid reports, inflation looks good. But these were the last reports before the tariffs."



Goldman Sachs echoed Goolsbee&#8217;s concerns in its latest inflation monitor. In a note shared Tuesday, the bank&#8217;s economist Jessica Rindels said the effect of new tariffs was modest in April, but the pressure is starting to surface.



"We expect tariffs to raise the effective tariff rate by 13 percentage points," Rindels said, projecting core PCE inflation will climb to 3.6% year-over-year by December 2025. Core CPI is forecast to hit 3.5%, up from April's 2.8%.



Most of that surge will likely come from goods categories highly dependent on imports, such as electronics, autos, and apparel. Meanwhile, services inflation—especially outside of housing—is expected to remain subdued for now.



<h3 class="wp-block-heading">Are Tariffs Truly Transitory?</h3>



Goolsbee raised doubts over the theoretical assumption that tariff-induced inflation is short-lived.



"In theory, if you put in a 10% tariff, you'd have 10% inflation for one year. But ‘transitory' is a bad word," he said, referencing the Fed's earlier misjudgment of COVID-era inflation. "I'm a little wary that the tariffs will have a transitory impact."



He described how business leaders in his district—home to the highest concentration of tariff-exposed states—have begun implementing price hikes in real-time.



"Last night at dinner with some CEOs here in Cedar Rapids, they described that in some cases, they just added a column to the spreadsheet—the tariff price," he said. "That implies a 100% pass-through."



<h3 class="wp-block-heading">Chicago Fed District Faces Disproportionate Exposure</h3>



Goolsbee highlighted that four of the seven most tariff-sensitive states—Iowa, Michigan, Indiana and Wisconsin—are in the Chicago Fed's jurisdiction. Those economies rely heavily on imported inputs and exports, especially in manufacturing and agriculture.



"There&#8217;s a lot of domestic production that's going to suffer," he said. "We'll have to figure out how to deal with that."



Despite his caution, Goolsbee still sees room for optimism on interest rates.



"I still think underneath all the tariff dirt in the air, rates can come down over 12–18 months," he said.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/economic-data/25/06/45724821/trumps-manufacturing-narrative-weakens-as-may-data-shows-sharper-contraction-stubborn-inflation">Trump&#8217;s Manufacturing Narrative Weakens As May Data Shows Sharper Contraction, Stubborn Inflation</a></li>
</ul>



 Photo: RozenskiP / Shutterstock.com

Federal Reserve

April Inflation Print Was The 'Last Vestige' Of Pre-Tariff Impact, Fed's Goolsbee Says

Each trading day features hundreds of headlines and press releases on Benzinga Pro, a source for traders to see the latest news on the overall market<a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0603" target="_blank" rel="noreferrer noopener">&nbsp;and individual tickers.</a>



Here is a look at the most searched stocks on Benzinga Pro for May 2025. Current prices and year-to-date performance are based on May 30 market close prices and do not include dividends.



1. SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)



<ul class="wp-block-list">
<li>Current Price: $589.39</li>



<li>52-Week Range: $481.81 to $613.23</li>



<li>Year-to-Date Return: +0.8%</li>



<li><a href="https://www.benzinga.com/trading-ideas/25/01/42802731/exclusive-top-20-most-searched-tickers-on-benzinga-pro-in-2024-where-do-tesla-nvidia-gamestop-trump-media-stocks-rank">2024 Benzinga Pro Search Rank</a>: 3rd</li>



<li><a href="https://www.benzinga.com/trading-ideas/25/03/44124338/exclusive-februarys-20-most-searched-tickers-on-benzinga-pro-where-do-tesla-palantir-alibaba-nvidia-rank">February</a>/<a href="https://www.benzinga.com/trading-ideas/25/04/44597684/exclusive-marchs-20-most-searched-tickers-on-benzinga-pro-where-do-tesla-nvidia-apple-applovin-stock-rank">March</a>/<a href="https://www.benzinga.com/trading-ideas/25/05/45171636/exclusive-aprils-20-most-searched-tickers-on-benzinga-pro-where-do-tesla-apple-palantir-nvidia-stocks-rank">April </a>2025 Rank: 3rd/2nd/1st</li>
</ul>



2. NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)



<ul class="wp-block-list">
<li>Current Price: $135.13</li>



<li>52-Week Range: $86.62 to $153.13</li>



<li>Year-to-Date Return: -2.3%</li>



<li>2024 Benzinga Pro Search Rank: 1st</li>



<li>February/March/April 2025 Rank: 2nd/3rd/2nd</li>
</ul>



3. Palantir Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>)



<ul class="wp-block-list">
<li>Current Price: $131.78</li>



<li>52-Week Range: $21.00 to $133.49</li>



<li>Year-to-Date Return: +75.3%</li>



<li>2024 Benzinga Pro Search Rank: 7th</li>



<li>February/March/April 2025 Rank: 4th/6th/7th</li>
</ul>



4. Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)



<ul class="wp-block-list">
<li>Current Price: $346.46</li>



<li>52-Week Range: $167.41 to $488.54</li>



<li>Year-to-Date Return: -8.7%</li>



<li>2024 Benzinga Pro Search Rank: 2nd</li>



<li>February/March/April 2025 Rank: 5th/1st/3rd</li>
</ul>



5. UnitedHealth Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>)



<ul class="wp-block-list">
<li>Current Price: $301.91</li>



<li>52-Week Range: $248.88 to $630.73</li>



<li>Year-to-Date Return: -40.2%</li>



<li>2024 Benzinga Pro Search Rank: Not in Top 20</li>



<li>February/March/April 2025 Rank: Not in Top 20/Not in Top 20/Not in Top 20</li>
</ul>



6. Asset Entities (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASST#NASDAQ">ASST</a>)



<ul class="wp-block-list">
<li>Current Price: $7.01</li>



<li>52-Week Range: $0.34 to $13.42</li>



<li>Year-to-Date Return:1,330.6%</li>



<li>2024 Benzinga Pro Search Rank: Not in Top 20</li>



<li>February/March/April 2025 Rank: Not in Top 20/Not in Top 20/Not in Top 20</li>
</ul>



7. Super Micro Computer (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>)



<ul class="wp-block-list">
<li>Current Price: $40.02</li>



<li>52-Week Range: $17.25 to $101.40</li>



<li>Year-to-Date Return: +33.2%</li>



<li>2024 Benzinga Pro Search Rank: 4th</li>



<li>February/March/April 2025 Rank: 1st/9th/Not in Top 20</li>
</ul>



8. D-Wave Quantum Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QBTS#NYSE">QBTS</a>)



<ul class="wp-block-list">
<li>Current Price: $16.33</li>



<li>52-Week Range: $0.75 to $19.76</li>



<li>Year-to-Date Return: +69.9% &nbsp;</li>



<li>2024 Benzinga Pro Search Rank: Not in Top 20</li>



<li>February/March/April 2025 Rank: Not in Top 20/10th/Not in Top 20</li>
</ul>



9. Hims &amp; Hers Health Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIMS#NYSE">HIMS</a>)



<ul class="wp-block-list">
<li>Current Price: $56.56</li>



<li>52-Week Range: $13.47 to $72.98</li>



<li>Year-to-Date Return: +124.4%</li>



<li>2024 Benzinga Pro Search Rank: 5th</li>



<li>February/March/April 2025 Rank: 16th/8th/8th</li>
</ul>



10. Apple Inc (NASDSAQ:AAPL)



<ul class="wp-block-list">
<li>Current Price: $200.85</li>



<li>52-Week Range: $169.21 to $260.10</li>



<li>Year-to-Date Return: -17.6%</li>



<li>2024 Benzinga Pro Search Rank: 5th</li>



<li>February/March/April 2025 Rank: 16th/8th/8th</li>
</ul>



Did You Know?



<ul class="wp-block-list">
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent060325">Get Tips On What They Bought And Sold With Our Easy-to-Use Tool</a></li>
</ul>



Honorable Mentions:&nbsp;The following stocks were the 11th&nbsp;to 20th&nbsp;most-searched tickers on&nbsp;<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent030425&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>&nbsp;in May.



11. CoreWeave Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWV#NASDAQ">CRWV</a>)



12. Oklo Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKLO#NYSE">OKLO</a>)



13. SharpLink Gaming (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBET#NASDAQ">SBET</a>)



14. Advanced Micro Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>)



15. Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)



16. Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)



17. Coinbase Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>)



18. Siyata Mobile (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYTA#NASDAQ">SYTA</a>)



19. Hyperscale Data (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/GPUS#AMEX">GPUS</a>)



20. Pony AI Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PONY#NASDAQ">PONY</a>)



Why It's Important: The SPDR S&amp;P 500 ETF Trust remained the most-searched ticker for a second straight month. Nvidia also ranked second for a second straight month.



New to the top three in May was Palantir, which jumped from seventh place in April to third place in May. The ticker has been popular among investors and ranked in the top 10 each month this year. The third-place ranking is the top for Palantir in 2025.



Tesla fell from third to fourth place, following a fall in April from first to third place. With the highly anticipated launch of Tesla robotaxis in June, the stock could attract more attention and find its way back into the top three spots.



The list of the top 10 most-searched tickers in May included five new stocks compared to the list from April. This included Super Micro Computer jumping back into the top 10 after falling out of the top 20 in April. The stock has been popular among investors this year and saw its highest place on the list since February during the month of May.



D-Wave, a quantum computing stock, also returned to the top 10, ranking 8th in May. Hims &amp; Hers also moved back into the top 10, ranking ninth after previously being outside the top 20 in March and April and ranking 9th in February.



New to the top 10 in May that hadn't been in the top 20 any month this year were United Health and Asset Entities. United Health saw an executive transition announced and was reported to be the subject of a DOJ investigation, a claim the company later denied.



Asset Entities announced a merger and plans to become a Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) <a href="https://www.benzinga.com/25/05/45550814/asset-entities-stock-has-skyrocketed-over-the-last-month-whats-going-on">holding treasury company</a>. SharpLink, which ranked 13th, also made a similar announcement but instead of investing in Bitcoin, the company <a href="https://www.benzinga.com/cannabis/25/05/45695750/sharplink-gaming-sbet-stock-soars-over-2600-in-a-week-on-ethereum-treasury-deal">is establishing an </a>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) treasury.



CoreWeave, which went public on March 28, narrowly missed out on the top 10 with an 11th-place ranking for the month of May. The ranking could signal continued popularity for the cloud computing company a month after its IPO.



Advanced Micro Devices, Invesco QQQ Trust and Amazon.com were the three tickers in the 11th to 20th rankings that previously ranked in the top 20 in April, coming in at 18th, 4th and 13th, respectively.



This marked a significant fall for the Invesco QQQ Trust, which ranked fourth in March and April. This could signal less interest in the Nasdaq 100 and technology stocks during the month.



Stay tuned <a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0603">to Benzinga Pro </a>for more market-moving news and to track the top tickers. 



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/general/space/25/05/45680115/tesla-the-best-elon-musk-company-84-say-no-these-3-rank-higher">Tesla The Best Elon Musk Company? 84% Say No — These 3 Rank Higher</a></li>
</ul>



Photo: Shutterstock

Topics

Exclusives

ASST

COIN

CRWV

GPUS

HIMS

OKLO

PLTR

PONY

QBTS

SBET

SMCI

SYTA

EXCLUSIVE: May's 20 Most-Searched Tickers On Benzinga Pro — Where Do Apple, Palantir, CoreWeave, Nvidia Rank?

Wall Street posted modest midday gains on Tuesday, as investors digested the latest developments in President <a href="https://www.benzinga.com/topic/donald-trump">Donald Trump's trade policy agenda.</a>



On Monday, the Office of the U.S. Trade Representative (USTR) announced a three-month suspension of the planned 25% Section 301 tariffs on Chinese imports, including chip-containing components such as GPUs, motherboards and solar panels.



Small-cap stocks outperformed large-cap peers, buoyed by signs of labor market resilience. Stronger-than-expected job openings and a decline in job quits for April suggested continued economic strength, easing recession concerns.



Job openings rose by 191,000 to 7.391 million in April, surpassing market expectations of 7.10 million. Meanwhile, job quits dropped by 150,000 to a four-month low of 3.194 million.



The Russell 2000 jumped 1.9%, while the S&amp;P 500 edged 0.7% higher. The small-cap index is on track for its sharpest day of relative outperformance since May 8.



The Nasdaq 100 climbed 1% to 21,700 — its highest level since Feb. 24 — with all-time highs now just 2.2% away.



Dollar General Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DG#NYSE">DG</a>) outperformed all other S&amp;P 500 members following stronger-than-expected earnings and an upbeat outlook. The stock soared 14%, eyeing its strongest-performing session since the <a href="https://www.benzinga.com/markets/earnings/25/06/45746307/dollar-general-boosts-annual-outlook-despite-ongoing-tariff-uncertainty">company went public in 2009. </a>



The U.S. dollar strengthened after eurozone inflation came in below expectations, reinforcing bets that the European Central Bank will deliver another rate cut at its Thursday meeting. 



Treasury prices fell slightly, with 30-year yields inching up near the 5% mark amid persistent concerns over the U.S. fiscal outlook.



Gold eased 1%, pausing after Monday's strongest rally in nearly a month. Oil prices surged further on Tuesday, with WTI light crude hitting $63.6 a barrel — the highest in two weeks — and driving energy sector outperformance.



The past two sessions saw crude rising 5% amid Russian-related supply concerns following the Ukraine drone attack over the weekend.



Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rose 0.5% to $106,000, continuing to trade within a tight range. 



<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>1-day % chg</td></tr><tr><td>Russell 2000</td><td>2,101.40</td><td>1.5%</td></tr><tr><td>Nasdaq 100</td><td>21,715.48</td><td>1.0%</td></tr><tr><td>S&amp;P 500</td><td>5,975.36</td><td>0.7%</td></tr><tr><td>Dow Jones</td><td>42,509.13</td><td>0.5%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 12:40 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;SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) inched 0.6% higher to $596.30.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) edged 0.4% up to $425.40.</li>



<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;rose 0.9% to $528.05.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rallied 1.6% to $208.94.</li>



<li>The&nbsp;Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) outperformed, up 1.7%; the&nbsp;Real Estate&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) lagged, down 0.5%.</li>
</ul>



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



<ul class="wp-block-list">
<li>Other stocks reacting to earnings included Signet Jewelers Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIG#NYSE">SIG</a>), up 10% and Ferguson Enterprises Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FERG#NYSE">FERG</a>), up 14%.</li>



<li>Constellation Energy Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>) rose 0.8% on Tuesday, paring loftier premarket gains of nearly 15% following the announcement of a nuclear energy deal with Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>).</li>



<li>Other nuclear-linked stocks also benefited, with Cameco Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCJ#NYSE">CCJ</a>), rising 3.2% and NuScale Power Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMR#NYSE">SMR</a>), up 1.5%.</li>



<li>Kenvue Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KVUE#NYSE">KVUE</a>) dropped 6.8% to $22.07, leading S&amp;P 500 losses, after executives warned of weaker second-quarter shipments as retailers in the U.S. and China cut inventories amid tariff uncertainty.</li>
</ul>



Read Now:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/06/45750724/exclusive-mays-20-most-searched-tickers-on-benzinga-pro-where-do-apple-palantir-coreweave-nvidia-rank">EXCLUSIVE: May&#8217;s 20 Most-Searched Tickers On Benzinga Pro — Where Do Apple, Palantir, CoreWeave, Nvidia Rank?</a> Photo: Shutterstock<a href="https://www.benzinga.com/trading-ideas/long-ideas/25/06/45750724/exclusive-mays-20-most-searched-tickers-on-benzinga-pro-where-do-apple-palantir-coreweave-nvidia-rank"> </a></li>
</ul>

Broad U.S. Equity ETFs

ETFs

FERG

KVUE

XLRE

Small Caps Surge, Dollar General Stock Eyes Best Day, Crude Hits 2-Week Highs: What's Driving Markets Tuesday?

With the national debt surging past $36.2 trillion in early June and long-term yields climbing, the U.S. bond market <a href="https://www.benzinga.com/markets/bonds">is entering dangerous territory.</a>



Leading financial voices are now raising alarms over unsustainable federal deficits, rising interest costs and declining confidence in the national debt.



The rout in Treasuries that began in April has pushed 30-year yields near 5%, levels last seen during the 2023 debt-ceiling standoff and comparable to pre-2008 highs.



Analysts say this reflects investors&#8217; demand for a higher term premium—the extra yield needed to hold longer-term debt in a riskier fiscal environment.



The key question now: Are we witnessing the early stages of a full-blown U.S. government debt crisis, or has the bond-market panic already gone too far?



Here's what the top names are saying.



<h3 class="wp-block-heading">Jamie Dimon: "You're Going to See A Crack In The Bond Market"</h3>



JPMorgan Chase CEO Jamie Dimon said the U.S. economy is on a fragile foundation of excessive borrowing and loose monetary policy.



According to Dimon, a bond market panic is not just possible—it's inevitable.



"You're going to see a crack in the bond market. It's going to happen," Dimon said last week at the Reagan National Defense Forum.



Dimon blamed the post-pandemic policy response for sowing instability, citing $10 trillion in fiscal stimulus since 2020 and an additional $8 trillion in asset purchases by the Federal Reserve. 



He indicated that this flood of liquidity inflated asset prices and reduced the system's ability to handle stress. 



"Unfortunately, it may be that we need [a crisis] to wake us up."



Read also: <a href="https://www.benzinga.com/markets/economic-data/25/05/45704089/jamie-dimon-warns-of-bond-market-crisis-caused-by-us-debt-binge-youre-going-to-panic">Jamie Dimon Warns Of Bond Market Crisis Caused By US Debt Binge: &#8216;You&#8217;re Going To Panic&#8217;</a>



<h3 class="wp-block-heading">BlackRock: "Staying Underweight Long-Term US Treasuries"</h3>



In a June 2 weekly commentary, BlackRock's Investment Institute reaffirmed its cautious stance on U.S. Treasurys. Jean Boivin, head of the group, said investor appetite for long-dated bonds is fading.



&#8220;Our strongest conviction has been staying underweight long-term U.S. Treasuries. We maintain that view as concerns about the deficit mount,&#8221; the world&#8217;s largest asset manager wrote in the report. 



The firm projects the U.S. deficit-to-GDP ratio could hit 5%-7%, especially if current spending proposals advance.



&#8220;We're watching to see if these changes impact foreign investors and drive term premium even higher,&#8221; analysts said. 



Long-dated U.S. Treasuries, as tracked via the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>), have fallen 3% year-to-date, on track for the fifth straight year of losses. 



<h3 class="wp-block-heading">Ray Dalio: "Unsustainable Debt Levels" Could Lead To Crisis</h3>



The Bridgewater Associates founder continues to express pessimism about the U.S. fiscal trajectory. On Monday, he warned that global debt has reached a dangerous level.



"The current debt levels in the U.S. and around the world are unsustainable."



Ray Dalio called for an &#8220;analytical way&#8221; to tackle the debt crisis. In a tweet last month, he projected the U.S. deficit would reach 7.5% of GDP in 2025 and pressed for urgent fiscal reform.



"If we don't cut that to 3% of GDP, we're likely to face a significant debt crisis in the next few years."



<h3 class="wp-block-heading">David Stockman: "A Big Ugly Bomb"</h3>



Former Reagan budget director David Stockman slammed the Trump administration's fiscal package, calling the so-called "Big Beautiful Bill" a "Big Ugly Bomb" that will blow future deficits wide open.



"The latest CBO baseline amounts to a five-alarm dumpster fire."



According to Stockman, if current policy continues unchecked, the federal deficit will approach $3 trillion annually by 2035, and the national debt will surge from $37 trillion to over $58 trillion in just 10 years.



He blamed structural issues—such as automatic spending on entitlements and defense—for locking the U.S. into a dangerous fiscal trajectory.



<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">Regarding the Donald&#39;s Great Big Ugly Debt Bomb! <a href="https://t.co/oh0CJqhyJf">pic.twitter.com/oh0CJqhyJf</a>&mdash; David Stockman (@DA_Stockman) <a href="https://twitter.com/DA_Stockman/status/1925212043176493418?ref_src=twsrc%5Etfw">May 21, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h3 class="wp-block-heading">Brennan Schlagbaum (Budgetdog): "This Is Going to Be Disastrous for Families"</h3>



CPA and financial educator Brennan Schlagbaum, widely followed online as Budgetdog, outlined the impact on everyday Americans.



"The government owes $36 trillion&#8230; and needs to refinance $9 trillion this year." He said the market is demanding an over 5% interest to buy that debt, and neither of the government&#8217;s likely responses—raising rates further or printing money—offer a good outcome.



"If nothing changes by 2034, interest payments will hit $2.2 trillion. That's a financial heart attack."



He warned of ripple effects across the economy, including job losses, soaring taxes, and risks to Social Security and Medicare.



&#8220;The US is going full speed towards a debt crisis,&#8221; the expert warned.



<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 US is going full speed towards a debt crisis. Interest rates are high, the dollar is weakening, and bond yields are skyrocketing. This is going to be disastrous for families. Let me explain&#8230; <a href="https://t.co/2ULfiaEswc">pic.twitter.com/2ULfiaEswc</a>&mdash; Brennan Schlagbaum, CPA (@Budgetdog_) <a href="https://twitter.com/Budgetdog_/status/1929698695089676354?ref_src=twsrc%5Etfw">June 3, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Read now: <a href="https://www.benzinga.com/markets/economic-data/25/06/45740592/trump-sets-july-8-deadline-for-trade-deals-demands-best-offers-from-global-partners-by-wednesday-report">Trump Sets July 8 Deadline For Trade Deals, Demands Best Offers From Global Partners By Wednesday: Report</a>



Photo: Shutterstock



<a href="https://www.benzinga.com/markets/economic-data/25/06/45740592/trump-sets-july-8-deadline-for-trade-deals-demands-best-offers-from-global-partners-by-wednesday-report"> </a>

Is A Bond-Market Crash Coming? Jamie Dimon, BlackRock, Ray Dalio And Others Sound The Alarm

Dollar General Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DG#NYSE">DG</a>) stock is trading higher after the company reported <a target="_blank" href="https://www.benzinga.com/pressreleases/25/06/b45741671/dollar-general-corporation-reports-first-quarter-2025-results" rel="noreferrer noopener">first-quarter 2025 earnings</a> on Tuesday.



The general store operator said quarterly net sales increased 5.3% to $10.44 billion, barely missing the <a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus of $10.64 billion</a>.



The net sales increase was driven by positive sales contributions from new stores and growth in same-store sales, partially offset by the impact of store closures.



Same-store sales increased 2.4% compared to the first quarter of 2024, reflecting a 2.7% increase in average transaction amount and a 0.3% decrease in customer traffic.



Also Read: <a target="_blank" href="https://www.benzinga.com/25/03/44543603/dollar-generals-profitability-play-analyst-sees-margin-expansion-ahead" rel="noreferrer noopener">Dollar General&#8217;s Strategy To Tackle Debt And Shrink Could Drive Margin Expansion, Analyst Says</a>



Same-store sales in the first quarter of 2025 included growth in consumables, seasonal, home products, and apparel categories.



The gross profit margin was 31.0%, an increase of 78 basis points from a year ago, primarily due to lower shrink and higher inventory markups, partially offset by increased markdowns.



Operating profit increased 5.5% to $576.1 million. The company reported net income of $391.9 million, up 7.9%, with earnings of $1.78 per share, compared to $1.65 a year ago, beating the consensus of $1.58.



As of May 2, 2025, total merchandise inventories, at cost, were $6.6 billion compared to $6.9 billion as of May 3, 2024, a decrease of 7.0% on an average per-store basis.



<h2 class="wp-block-heading">Guidance</h2>



Dollar General said while its first quarter 2025 earnings exceeded its internal expectations, uncertainty exists for the remainder of the year regarding the potential impact of tariffs on the business, particularly on consumer behavior.



The tariff environment remains highly dynamic, and the specific tariffs applicable to goods imported by the company and its suppliers into the U.S. continue to evolve.



The company is updating its expectations for the year, primarily to reflect its outperformance in the first quarter and the tariff uncertainty.



The company now expects fiscal year 2025 sales growth of approximately 3.7% to 4.7%, compared to its previous expectation of approximately 3.4% to 4.4%.



Same-store sales growth is expected to be approximately 1.5% to 2.5%, compared to its previous expectation of approximately 1.2% to 2.2%



Dollar General revised earnings guidance from $5.10-$5.80 per share to $5.20-$5.80 compared to the consensus of $5.62.



The company expects capital expenditures of $1.3 billion to $1.4 billion.



The company is also reiterating its plans to execute approximately 4,885 real estate projects in fiscal year 2025, including



<ul class="wp-block-list">
<li>Opening approximately 575 stores in the U.S. and up to 15 new stores in Mexico.</li>



<li>Remodeling approximately 2,000 and 2,250 stores through Project Renovate and Project Elevate, respectively.</li>



<li>Relocating approximately 45 stores.</li>
</ul>



Price Action: At the last check on Tuesday, DG stock was up 10.30% at $107.14 during the premarket session.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/large-cap/25/06/45729089/china-stocks-get-boost-as-ubs-hsbc-cite-stimulus-hopes-tariff-truce-cheap-valuations" target="_blank" rel="noreferrer noopener">China Stocks Get Boost As UBS, HSBC Cite Stimulus Hopes, Tariff Truce, Low Valuations</a></li>
</ul>



Photo via Shutterstock

Earnings

Large Cap

Guidance

General

Dollar General Boosts Annual Outlook Despite Ongoing Tariff Uncertainty

Per-ounce gold prices are up $1,000 from a year ago, and defensive-minded investors can be forgiven for balking at the yellow metal's skyrocketing price.



Metals experts cite multiple reasons why gold prices are so high right now.&nbsp;



"If you step back, it's not surprising that we've seen gold surge by $1,000 per ounce over the past year," said Rana Vig, president and CEO of Blue Lagoon Resources Inc., a Vancouver-based mineral exploration company. "It's a textbook gold rally created by a perfect storm of macroeconomic and geopolitical factors."



Vig said the economy and markets have seen persistent inflation concerns, aggressive central bank buying (especially from countries seeking to reduce U.S. dollar exposure), and ongoing global instability. "Add to that falling confidence in fiat currencies and tariff instability, and you have an environment where gold speculation can thrive."



Given gold&#8217;s rapid rise, investors who wish to use metals as a powerful hedge against volatile markets have other options.



It's worth noting that gold prices aren't necessarily out of reach for precious metals investors.



"No doubt, the easy money in this cycle may have already been made," Vig noted. "As for new investors coming in now, the upside will be harder to find without taking on more risk."



One major upside of gold is that it's not just a speculative asset or a hedge for volatility. In many parts of the world, it's a way of life. 



"In countries like India, where gold is deeply woven into the cultural and economic fabric, it's not uncommon for entire villages to pool resources and buy gold by the gram," Vig added. "Even the poorest households will save in gold, not stocks, not bonds because it's tangible, trusted, and borderless."



That level of generational trust in gold continues to anchor demand globally. "For Western investors, there's something to learn from that mindset: Gold isn't just about price, it's about preservation," Vig noted. "It's about holding something real when everything else feels uncertain."



<h2 class="wp-block-heading">Non-Physical Gold Portfolio Options</h2>



Experts say that if current per-ounce gold prices at $3,300 are too high, investors have formidable "Plan B" options in the precious metals market. These metal plays may be your best bets.



<h3 class="wp-block-heading">Silver</h3>



Silver&#8217;s price is expected to rise to $40 an ounce within the next six to twelve months, about a 20% increase from current levels.



"This is similar to the projection for gold, and silver and gold tend to move in tandem with each other," said Brett Elliott, marketing director at American Precious Metals Exchange in Urbandale, Iowa. "Silver has a constrained supply, large industrial buyers who will pay virtually any amount to get the silver they need, and growing demand from various sectors."



Additionally, silver rallies tend to follow gold rallies, and gold has been rallying frequently this year. "Just like gold, silver is highly liquid and can be bought and sold in physical form, through ETFs, or through digital silver apps where the metal is vaulted but owned by you," Elliot noted.



Another factor favoring silver is supply and demand.&nbsp;



"There's a huge silver shortage in the world due to a lack of silver mines, and the demand for silver will continue to be high due to its usage in electric vehicles, electric vertical take-off and landing vehicles, and other electrical appliances," said Sankar Sharma, investing analyst and founder of RiskRewardReturn.com, mentioning iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>). "The best and easiest way to invest in silver is via the iShares Silver Trust, which is trading at an attractive $29.99 entry price as of May 30."



<h3 class="wp-block-heading">Copper</h3>



Copper is another robust metal contender for defense-oriented investors. "It's essential electrification, whether it&#8217;s electric vehicles, grid infrastructure, or renewable power," Vig said. "And while copper's global demand is expected to outpace supply over the next decade, its market price, in many ways, still hasn't caught up relative to its fundamental story."



Geography also matters with copper.



"Copper is an excellent base metal to get into as electric utility needs for third world countries are only going to increase over the next 10 to 20 years," said Robert Kientz, operations lead at Kinesis Bullion USA.



Overall, global economies are moving into an expansion cycle, which should fuel demand for copper. "If an investor has a five-year game plan, then copper stocks and miners are likely to move higher," Sharma said.&nbsp;



Sharma added that good copper stocks to consider include Freeport McMoran (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>), Southern Copper Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCCO#NYSE">SCCO</a>), Barrick Mining Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/B#NYSE">B</a>) and Rio Tinto Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>).



<h3 class="wp-block-heading">Zinc</h3>



Zinc is an often overlooked precious metal, but it's critical to infrastructure across the globe. "As major economies reinvest in aging roads, bridges, and transport networks, zinc demand will remain strong," Vig said. "At the same time, recent supply disruptions have tightened the market, creating an attractive setup."



He recommends starting with producers like Teck Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TECK#NYSE">TECK</a>), which offers zinc and copper exposure in a single play. The stock is trading at $37 per share and is down over 8% for the year, suggesting a possible "buy the dip" opportunity.



<h3 class="wp-block-heading">Gold ETFs</h3>



Suppose you're only interested in exposure or short-term trades. In that case, a gold exchange-traded fund can provide a low-cost way of expanding your portfolio and has the added bonus of near-instant liquidity.



There are some caveats, however. "If you're planning to hold gold for a few years or longer, the expense ratio on most gold ETFs is cost inefficient in the long run," Elliot said. "Physical gold often provides a better value for gold longs. You pay the premium once on physical gold, but with an ETF, you pay the expense ratio every year."



It's also ideal to conduct thorough due diligence on gold ETFs.



"Before investing in gold funds, investors must review suitable ETFs to ensure the fund's holdings are purely linked to gold," Sharma said.



<h2 class="wp-block-heading">The Takeaway On Gold And Its Long-Term Outlook</h2>



Near the mid-point of 2025, gold is edging higher for two reasons.&nbsp;



"We are in a time of geopolitical instability and inflation of the monetary supply," said Blake Mclaughlin, vice president of exploration at Axcap Ventures. "With both scenarios at play, it's no surprise that we have seen the price of gold rise consistently over the last 18 months. Also driving the surge in price are the central banks' continuous and real-time adjustments in gold allocation."



Yet despite an uptick in the price, gold comprises just a fraction of a percent of global investment holdings, noted Mclaughlin. "However, with the release of the US Federal Reserve's May meeting minutes, which flagged rising inflation and risks of recession, gold's appeal as a safe-haven asset is likely to increase and may soon make up a larger portion of investor portfolios." 



That's what precious metals with limited capacity can do to drive a portfolio upward.&nbsp;



"When it comes to gold supply, a tap cannot be turned on to increase supply &#8211; it takes years, even decades, to substantially increase it, making a demand spike like the one we are seeing carry significant impacts," Mclaughlin added.



<h2 class="wp-block-heading">Rebound Or Breakdown? Join Matt Maley Live On Wednesday, June 4</h2>



The market is flashing major warning signs—tech is cracking, small caps are diverging, and rate pressure is building fast. Volatility is rising, and a sharp move could hit any day. Join 42-year Wall Street veteran Matt Maley as he breaks down the signals he's watching, the stocks he's targeting for short-term trades, and how he's positioning for the next major move—whether the market rips higher or breaks down next. Reserve your free spot <a href="https://events2.benzinga.com/matt-maley-webinar-wed-june4-2025-registration/?utm_campaign=webinar060425&amp;utm_adType=sponsorad&amp;utm_ad=RD060225&amp;he={{email}}&amp;adt_ei={{email}}&amp;utm_medium=newsletter">HERE</a>.



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



Photo: Shutterstock

SCCO

TECK

3 Gold Alternatives Set To Soar Next

Chinese electric vehicle maker Nio, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) shares were trading lower in premarket on Tuesday after the company reported <a href="https://www.benzinga.com/pressreleases/25/06/g45742603/nio-inc-reports-unaudited-first-quarter-2025-financial-results" target="_blank" rel="noreferrer noopener">fiscal first-quarter results</a>.



The company reported quarterly revenue of 12.03 billion Chinese yuan&nbsp;($1.66 billion), up 21.5%&nbsp;year-over-year. However, revenue declined by&nbsp;38.9%&nbsp;sequentially.



Also Read: <a target="_blank" href="https://www.benzinga.com/trading-ideas/movers/25/06/45717955/chinas-nio-clocks-13-deliveries-growth-in-may-tesla-lags" rel="noreferrer noopener">China&#8217;s NIO Clocks 13% Deliveries Growth In May, Tesla Lags</a>



Analysts, on average, estimated&nbsp;revenue of&nbsp;$1.73 billion for the quarter.



Excluding items, the company reported an adjusted loss per share per ADS of 3.01 Chinese yuan, or 41 cents, compared to a 2.39 Chinese&nbsp;yuan loss in the year-ago quarter. <a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">Analysts had called</a> for a&nbsp;loss of 37 cents per ADS.



Vehicle deliveries were 42,094 in the quarter, up 40.1% year over year (Y/Y). However, deliveries declined by 42.1% quarter over quarter. Consequently, vehicle revenue rose by 18.6% year over year and decreased by 43.1% quarter over quarter.



Nio delivered 23,900&nbsp;vehicles in April 2025 and 23,231 vehicles in May 2025. As of May 31, 2025, the cumulative number of Nio vehicle deliveries reached 760,789.



Gross margin for the quarter expanded to&nbsp;7.6%, up from&nbsp;4.9%&nbsp;a year ago and&nbsp;down from 11.7%&nbsp;the previous quarter, as vehicle margin expanded Y/Y from&nbsp;9.2%&nbsp;a year ago to&nbsp;10.2%, down from 13.1% a quarter ago.&nbsp;Since the first quarter, the company has implemented various cost control measures, including organizational restructuring, cross-brand integration, and efficiency improvements in R&amp;D, supply chain, sales, and services.



As of March 31, 2025, cash and cash equivalents, restricted cash, short-term investments, and long-term time deposits totaled 26.0 billion Chinese yuan&nbsp;($3.6 billion).



William Bin Li, founder, chair and CEO, said the company has noted a steady increase in monthly delivery volume since the beginning of the second quarter. In April, he said the ET9 and Firefly secured notable market shares in the premium executive market and high-end small electric car market, respectively. He also witnessed the rising demand for ONVO L60. Li added that the New ES6, EC6, ET5, and ET5T started deliveries with all-around upgrades in late May. 



Outlook: Nio expects second-quarter deliveries of 72,000 and 75,000 vehicles, reflecting a 25.5% to 30.7% year-over-year increase.



The company projects revenues between 9.51 billion Chinese yuan ($2.69 billion) and 20.07 billion Chinese yuan ($2.77 billion), representing an increase of approximately&nbsp;11.8%-15.0%&nbsp;Y/Y versus the $2.78 billion <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">analyst consensus</a>.



Price Action:&nbsp;NIO shares are down 1.70% at $3.46 premarket at the last check Tuesday.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/asia/25/04/44668137/nio-power-in-deal-talks-with-tesla-battery-supplier-catl" target="_blank" rel="noreferrer noopener">Nio Power In Deal Talks With Tesla Battery Supplier CATL</a></li>
</ul>



Photo: Shutterstock

Nio Stock Drops After Q1 Results And Outlook Disappoints The Street, Margins Shrink

CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) will release its first-quarter earnings results after the<a href="https://www.benzinga.com/quote/crwd/earnings"> closing bell on Tuesday, June 3.</a>



Analysts expect the Austin, Texas-based company to report quarterly earnings at 66 cents per share, down from 93 cents per share in the year-ago period. CrowdStrike projects to report quarterly revenue at $1.11 billion, compared to $921.04 million a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.



CrowdStrike and Microsoft, on Monday, disclosed a collaboration to bring clarity and coordination to how cyber threat actors are identified and tracked across security vendors.



CrowdStrike shares rose 1.7% to close at $479.17 on Monday.



Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.



Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/crwd/analyst-ratings">analysts have rated the company</a> in the recent period.



<ul class="wp-block-list">
<li>Wells Fargo analyst Andrew Nowinski maintained an Overweight rating and increased the price target from $430 to $550 on June 2, 2025. This analyst has an accuracy rate of 69%.</li>



<li>Rosenblatt analyst Catharine Trebnick maintained a Buy rating and raised the price target from $450 to $515 on June 2, 2025. This analyst has an accuracy rate of 71%.</li>



<li>Cantor Fitzgerald analyst Jonathan Ruykhaver maintained an Overweight rating and increased the price target from $440 to $475 on May 30, 2025. This analyst has an accuracy rate of 72%.</li>



<li>UBS analyst Roger Boyd maintained a Buy rating and raised the price target from $425 to $545 on May 29, 2025. This analyst has an accuracy rate of 68%.</li>



<li>Barclays analyst Saket Kalia maintained an Overweight rating and boosted the price target from $475 to $500 on May 28, 2025. This analyst has an accuracy rate of 78%.</li>
</ul>



Considering buying CRWD stock? Here&#8217;s what analysts think: 



<figure class="wp-block-image size-large is-resized"><a href="https://www.benzinga.com/quote/CRWD/analyst-ratings"><img loading="lazy" decoding="async" width="1024" height="609" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03031332/image-17-1024x609.png" alt="" class="wp-image-936145" style="width:690px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03031332/image-17-1024x609.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03031332/image-17-300x178.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03031332/image-17-768x457.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03031332/image-17.png 1122w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



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Photo via Shutterstock

Price Target

Analyst Ratings

CrowdStrike Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

U.S. stock futures fell on Tuesday, pulling back after a higher close on Monday. Futures of major benchmark indices declined in premarket.



Trade tensions escalated as <a href="https://www.benzinga.com/news/politics/25/06/45715447/xi-jinpings-china-dismisses-trumps-groundless-accusations-on-geneva-trade-deal-breach-vows-strong-retaliation">China&#8217;s Commerce Ministry dismissed</a> President Donald Trump&#8216;s allegations that Beijing had violated the Geneva trade agreement. The ministry asserted that China had fully implemented and consistently honored the deal struck last month in Geneva.



The Chinese government declared that the U.S. had &#8220;groundlessly&#8221; accused China of breaching the trade agreement. It pledged to take strong action to protect its interests.



Meanwhile, the 10-year Treasury bond yielded 4.41% and the two-year bond was at 3.92%. 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 June 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>-0.43%</td></tr><tr><td>S&amp;P 500</td><td>-0.46%</td></tr><tr><td>Nasdaq 100</td><td>-0.42%</td></tr><tr><td>Russell 2000</td><td>-0.49%</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, fell in premarket on Tuesday. The SPY was down 0.45% at $590.04, while the QQQ declined 0.36% to $521.35, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From Last Session:



U.S. stocks wrapped up Monday higher. Most sectors within the S&amp;P 500 ended positively, spearheaded by strong performances in energy, communication services, and information technology stocks. However, industrial stocks went against the grain, finishing the session lower.



Wall Street closed out last month strong, with the S&amp;P 500 up more than 6.2% in May and the Nasdaq surging 9.6%. Both indices had their best months since November 2023, while the Dow gained 3.9% for the month.



Trade tensions flared as President Trump announced weekend plans to <a href="https://www.benzinga.com/news/topics/25/05/45708977/trump-doubles-steel-tariffs-to-50-saying-it-will-secure-american-jobs-backs-us-steels-takeover-by-japans-nippon">double tariffs on steel and aluminum</a> imports to 50% starting June 4. 



In corporate news, Campbell&#8217;s Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPB#NASDAQ">CPB</a>) reported better-than-expected third-quarter results. Meanwhile, Lyra Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYRA#NASDAQ">LYRA</a>) shares skyrocketed over 310% on Monday after its ENLIGHTEN 2 Phase 3 trial of LYR-210 met its primary endpoint.



On the economic front, the ISM manufacturing PMI dropped to 48.5 in May from April&#8217;s 48.7, missing market estimates of 49.5. U.S. construction spending also fell, declining 0.4% month-over-month in April to an annual rate of $2,152.4 billion, following a revised 0.8% drop in March.



The Dow Jones index ended 35 points or 0.084% higher at 42,305.48, whereas the S&amp;P 500 index rose 0.41% to 5,935.94. Nasdaq Composite advanced 0.67% to 19,242.61, and the small-cap gauge, Russell 2000, gained 0.19% to end at 2,070.16.



<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>0.67%</td><td>19,242.61</td></tr><tr><td>S&amp;P 500</td><td>0.041%</td><td>5,935.94</td></tr><tr><td>Dow Jones</td><td>0.084%</td><td>42,305.48</td></tr><tr><td>Russell 2000</td><td>0.19%</td><td>2,070.16</td></tr></tbody></table></figure>



Insights From Analysts:



As the S&amp;P 500 index rebounded from its April slump, Adam Turnquist, LPL Financial's chief technical strategist, pointed to strong indicators of a genuine recovery, noting the index&#8217;s reversal of its short-term downtrend and a doubling of its uptrend during this period.



A chart from LPL Financial illustrates this shift: on April 8, the S&amp;P 500&#8217;s uptrend accounted for just 29.4%, with downtrends at 70.2%. By May 29, however, the index had swiftly recovered, with uptrends doubling to 60% and downtrends decreasing to 39%.



LPL Financial attributed this change to <a href="https://www.benzinga.com/markets/equities/25/06/45739065/sp-500-reverses-short-term-downtrend-after-april-lows-technical-evidence-shows-recovery-is-real-and-not-a-bull-trap-or-bear-market-rally">significant technical progress</a> throughout May. He explained, "The index has reversed a short-term downtrend and continues to hold above its recent price gap above the 200-day moving average (dma)."



Turnquist suggests that a close above the May high of 5,969 points could pave the way for the index to retest its previous high of 6,144 points.



He emphasized, "There is a growing list of technical evidence that suggests this recovery is real, and not a ‘bull trap' or ‘bear market rally.' For investors, this means dips above support should be used as buying opportunities."



This positive outlook follows a strong May for the broader market, which saw a 6.2% gain—its best month since November 2023 and its strongest May since 1990. Turnquist also noted that historically, when the index rallies 3% or more in May, a month often associated with the &#8220;Sell in May and Go Away&#8221; adage, year-end returns average 8.9%, with positive returns in 73% of such periods.



Meanwhile, the Senior Economist at WisdomTree and former professor at the University of Pennsylvania, Jeremy Siegel, said, &#8220;I remain bullish on equities presuming tariffs remain in the 10% for all, 30% for China, range.&#8221;



Highlighting that Trump has doubled the tariffs on steel and aluminum, Seigel added, &#8220;If he goes no further, the current upward trend can continue. The market's resilience, despite noise on tariffs, inflation, and politics, tells me that investors see the same economy I do: strong productivity, solid consumer spending, and stabilizing inflation.&#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>April&#8217;s factory orders and job openings data will be out by 10:00 a.m. ET.</li>



<li>Chicago Fed President Austan Goolsbee will speak at 12:45 p.m., Federal Reserve Governor Lisa Cook will speak at 1:00 p.m., and Dallas Fed President Lorie Logan will speak at 3:30 p.m. ET.</li>
</ul>



Stocks In Focus:



<ul class="wp-block-list">
<li>Dollar General Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DG#NYSE">DG</a>) rose 1.37% in premarket on Tuesday as analysts expect it to report quarterly earnings of $1.48 per share on revenue of $10.31 billion, before the opening bell.</li>



<li>Signet Jewelers Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIG#NYSE">SIG</a>) was up 1.80% ahead of its earnings, which are supposed to be released before the opening bell. Analysts expect earnings of $1.03 per share on revenue of $1.52 billion.</li>



<li>Ferguson Enterprises Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FERG#NYSE">FERG</a>) declined 0.99% as analysts expect it to report quarterly earnings of $2.02 per share on revenue of $7.42 billion, before the opening bell.</li>



<li>Credo Technology Group Holding Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRDO#NASDAQ">CRDO</a>) jumped 12.8% after reporting fourth-quarter revenue of $170.03 million, beating analyst estimates of $162.96 million.</li>



<li>MoonLake Immunotherapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MLTX#NASDAQ">MLTX</a>) surged 19.05% following reports that Merck held talks to acquire the Swiss biotech company for over $3 billion.</li>



<li>Donaldson Company Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DCI#NYSE">DCI</a>) fell 0.39% ahead of its earnings, which are supposed to be released before the opening bell. Analysts expect earnings of 95 cents per share on revenue of $933.45 million.</li>



<li>Ollie&#8217;s Bargain Outlet Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OLLI#NASDAQ">OLLI</a>) edged 0.45% higher as analysts expect it to report quarterly earnings of 71 cents per share on revenue of $565.75 million, before the opening bell.</li>



<li>Rocket Lab USA Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>) was trading 0.90% higher after the successful launch of the 10th Electron mission for multi-launch customer BlackSky.</li>
</ul>



Commodities, Gold, And Global Equity Markets:



Crude oil futures were trading higher in the early New York session by 0.34% to hover around $62.73 per barrel.



Gold Spot US Dollar fell 0.58% to hover around $3,361.51 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was higher by 0.21% at the 98.9110 level.



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



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/economic-data/25/06/45740592/trump-sets-july-8-deadline-for-trade-deals-demands-best-offers-from-global-partners-by-wednesday-report">Trump Sets July 8 Deadline For Trade Deals, Demands Best Offers From Global Partners By Wednesday: Report</a></li>
</ul>



Photo courtesy: Shutterstock

Pre-Market Outlook

CRDO

LYRA

MLTX

OLLI

RKLB

US Stocks Likely To Open Lower: Expert Highlights Technical Analysis Showing S&P 500's 'Recovery Is Real' And Not A 'Bull Trap' Or 'Bear Market Rally'

The Trump administration is demanding that countries submit their best trade negotiation offers by Wednesday as officials accelerate talks with multiple partners ahead of a July 8 deadline.



What Happened: The draft letter reveals urgency within the administration to complete deals against its tight deadline, Reuters reported. Trump paused his &#8220;Liberation Day&#8221; tariffs for 90 days until July 8 after stock, bond and currency markets revolted over the sweeping nature of the levies in early April.



The U.S. is asking countries to list their best proposals, including tariff and quota offers for U.S. industrial and agricultural products, plans to remedy non-tariff barriers, commitments on digital trade and economic security, and country-specific commitments, according to a draft letter from the United States Trade Representative seen by Reuters. 



The U.S. will evaluate responses within days and offer &#8220;a possible landing zone&#8221; that could include reciprocal tariff rates.



Washington has been engaged in active negotiations with the European Union, Japan, Vietnam and India, among others. So far only one agreement has been reached with a major trading partner &#8211; Britain, though that limited pact was more akin to a framework than a final deal.



A USTR official confirmed, according to the report, that &#8220;productive negotiations with many key trading partners continue at a rapid pace.&#8221;



USTR did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.



See Also: <a href="https://www.benzinga.com/markets/equities/25/06/45739846/snowflake-sets-sights-on-350-billion-database-market-with-crunchy-data-acquisition">Snowflake Sets Sights On $350 Billion Database Market With Crunchy Data Acquisition</a>



Why It Matters: The Court of International Trade ruled last Wednesday that Trump overstepped his authority with tariffs under the International Emergency Economic Powers Act, though an appeals court temporarily paused that decision. 



The draft letter warns partners not to expect tariffs will be sidelined, stating Trump &#8220;intends to continue this tariff program pursuant to other robust legal authorities if necessary.&#8221;



Experts <a href="https://www.benzinga.com/news/politics/25/05/45691310/trump-tariff-uncertainty-enters-courts-experts-say-investors-should-expect-elevated-turbulence-amid-the-bullish-gridlock">forecast elevated market turbulence</a> until trade clarity emerges, with LPL Financial&#8216;s chief technical strategist noting &#8220;the market hates uncertainty&#8221; and that &#8220;high levels of trade policy uncertainty tend to correlate with high implied volatility.&#8221; 



The administration is considering alternative approaches, including <a href="https://www.benzinga.com/news/25/05/45688655/trump-administration-mulls-global-tariffs-of-about-15-for-150-days-under-existing-trade-laws-report">using the Trade Act of 1974</a> to impose broad tariffs of up to 15% for 150 days while developing tailored tariffs for individual partners.



Read Next:



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<li><a href="https://www.benzinga.com/markets/treasuries/25/06/45739830/us-dollar-decouples-with-10-year-treasuries-as-trade-tensions-change-long-standing-relationships-between-asset-classes">US Dollar Decouples With 10-Year Treasuries As Trade Tensions Change Long-Standing Relationships Between Asset Classes</a></li>
</ul>



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



Image Via Shutterstock

Economics

Trump Sets July 8 Deadline For Trade Deals, Demands Best Offers From Global Partners By Wednesday: Report

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