Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is charging into its first-quarter earnings report on Wednesday with strong technical momentum, but investors might want to buckle up. Wall Street is expecting the company to report 88 cents in earnings on $43.21 billion revenue for the quarter, as it reports <a href="https://www.benzinga.com/quote/NVDA/earnings">after market hours</a>.



While the charts are flashing bullish signals, Wall Street is bracing for what could be a messy quarter, driven not by a lack of demand—but by supply chain snarls tied to China's restrictions and the high-profile H20 chip delay.



Read Also: <a href="https://www.benzinga.com/trading-ideas/long-ideas/25/05/45616366/nvidias-q1-earnings-loom-while-amds-edge-ai-bet-could-change-the-narrative">Nvidia&#8217;s Q1 Earnings Loom, While AMD&#8217;s Edge AI Bet Could Change The Narrative</a>



<h2 class="wp-block-heading">Nvidia Stock Chart Bullish Ahead Of Q1 Earnings</h2>



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0528"><img loading="lazy" decoding="async" width="631" height="486" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/28085308/Screenshot-2025-05-28-at-2.46.41-PM.png" alt="" class="wp-image-929873" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/28085308/Screenshot-2025-05-28-at-2.46.41-PM.png 631w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/28085308/Screenshot-2025-05-28-at-2.46.41-PM-300x231.png 300w" sizes="(max-width: 631px) 100vw, 631px" /></a></figure>



<a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0528">Chart created using Benzinga Pro</a>



On the technical front, Nvidia stock looks rock solid. The stock is trading at $135.50, well above its eight-day, 20-day and 50-day simple moving averages (SMAs)—$134.03, $125.44, and $115.39, respectively. The 200-day SMA also trails at $126.47, further reinforcing the bullish setup for Nvidia stock. 



The Moving Average Convergence Divergence (MACD) indicator stands at 6.31, suggesting upward momentum remains intact. Meanwhile, the Relative Strength Index (RSI) is at 68.00, inching closer to the overbought territory but still showing healthy buying pressure.



Despite these bullish signals, not everyone is convinced the upcoming earnings will sustain Nvidia's rally.



<h2 class="wp-block-heading">Guidance Could Trim By 10% &#8211; Says Investment Strategist </h2>



Stephanie Link, chief investment strategist at Hightower Advisors, is not expecting fireworks. "I don't think it is going to be a catalyst quarter. It's noisy– you have the China restrictions, etc. So, July quarter guidance probably has to come down because of the H20 issue," she warned, estimating the impact could shave off about 10% from outlook expectations.



The H20 chip, a modified version of Nvidia's flagship AI hardware designed to comply with U.S. export controls, has hit production snags in China, one of Nvidia's key growth markets. Add in chatter about slower rack production and power supply constraints, and it&#8217;s clear why sentiment is mixed.



Still, Link argues that these are supply, not demand, problems. "They're going to do about $5 in earnings power, this year I would assume," she added, signaling long-term confidence despite short-term turbulence.



With Nvidia stock up nearly 25% in the past month, optimism is already baked in. Whether the stock extends its bullish run may hinge on how investors digest potentially weak guidance—especially if it&#8217;s seen as a temporary blip rather than a structural concern.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/25/05/45640667/nvidia-supplier-asml-loses-over-130-billion-in-market-cap-amid-china-export-curbs-trump-tariff-uncertainty">Nvidia Supplier ASML Loses Over $130 Billion In Market Cap Amid China Export Curbs, Trump Tariff Uncertainty</a></li>
</ul>



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Nvidia Bullish Ahead Of Q1 Earnings, But Will H20 Chip Woes Dampen The Party?

A global equity index that excludes U.S. companies has broken above levels last seen before the 2008 financial crisis, marking a key technical breakout and posing a direct challenge to the long-standing American market dominance known as <a href="https://www.benzinga.com/markets/25/05/45491438/mohamed-el-erian-says-era-of-us-exceptionalism-is-paused-but-not-over-yet-too-early-to-say-if-the-damage-inflicted-is-irreversible">the &#8220;U.S. exceptionalism trade.&#8221;</a>



Between September 2009 and late 2024, U.S. stocks outperformed global equities by an astonishing 340 percentage points, reinforcing the narrative of American market supremacy. But that narrative is now facing growing skepticism.



Still, May's rebound in the S&amp;P 500 suggests the U.S. isn't ready to relinquish its lead just yet.



<h3 class="wp-block-heading">Global Equities Rally, Led By German Defense Powerhouse</h3>



On May 28, the iShares MSCI ACWI ex U.S. ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACWX#NASDAQ">ACWX</a>) surged to $59.58, its highest price since April 2008. The milestone marks a significant recovery for international equities, which have long trailed their U.S. counterparts.



This market is up 14% year-to-date, beating the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) by roughly 13 percentage points—a record pace of relative outperformance since ACWX's 2008 inception. 



The rally reflects growing investor interest in markets outside the U.S., fueled by concerns over American political risks and debt sustainability. 



Yet, in May, the tide shifted slightly. The S&amp;P 500 has gained 6.7% so far this month—on track for its strongest performance since November 2023—while ACWX has risen 4.7%. It's the first month since January when U.S. equities have outpaced international ones.



A select group of seven global stocks has more than doubled year-to-date, with gains ranging from 104% to over 200%. Most operate in the defense or energy sectors, two industries booming amid rising geopolitical tensions and infrastructure overhauls.



<ol class="wp-block-list">
<li>Rheinmetall AG (OTCPK: RNMBF) – German weapons and tank maker, up 207% on Europe's defense spending boom.</li>



<li>Hyundai Rotem (OTCPK: HYROF) – South Korean military and rail equipment producer, up 184%.</li>



<li>Hanwha Co. Ltd (OTCPK: HWANF) – Jet engine and missile maker from South Korea, up 172% amid rising global arms demand.</li>



<li>Doosan Enerbility (OTCPK: DOOSF) – South Korean energy firm, up 141%, with nuclear and hydrogen driving growth.</li>



<li>Hanwha Ocean – Builds submarines and LNG ships in South Korea, up 111% this year.</li>



<li>Leonardo S.p.A. (OTCPK: FINMF) – Italy's top defense contractor, up 109%, benefiting from EU rearmament.</li>



<li>Saab AB (OTCPK: SAABF) – Swedish defense firm known for Gripen jets, up 104%. </li>
</ol>



<h3 class="wp-block-heading">Technicals Support Global Outperformance</h3>



Bank of America's chief technical analyst Paul Ciana views the breakout in the MSCI World ex-U.S. index as more than symbolic.



In a note shared Tuesday, he noted a "technically constructive picture," highlighting key factors such as:



<ul class="wp-block-list">
<li>A rising 50-week simple moving average</li>



<li>A resilient 14-week relative strength index above 40</li>



<li>A bullish MACD (Moving Average Convergence Divergence) signal</li>



<li>A relative ratio vs. the S&amp;P 500 breaking higher in early 2025</li>
</ul>



Ciana said this offers &#8220;the next best chance for the world to outperform the U.S.&#8221;



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="535" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/28101506/image-365-1024x535.png" alt="" class="wp-image-930050" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/28101506/image-365-1024x535.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/28101506/image-365-300x157.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/28101506/image-365-768x401.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/28101506/image-365-1536x803.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/28101506/image-365-2048x1070.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h3 class="wp-block-heading">Backdrop: Cracks In The US Exceptionalism Trade</h3>



The U.S. equity market reached record highs in February 2025, a month after Trump's return to the White House. 



Yet, fears surrounding his administration's aggressive tariff strategy—temporarily paused for 90 days—sparked synchronized April selloffs across U.S. stocks, bonds and the dollar.



A May 2025 downgrade of the U.S. credit rating by Moody's intensified concerns over debt sustainability and the long-term dominance of American assets.



According to Oxford Economics, the downgrade "reinforces the narrative of de-dollarization, credibility erosion and exceptionalism fatigue."



Still, some believe the dollar's primacy remains unchallenged.



"The fact that the U.S. dollar is the world reserve currency has been core to the U.S. exceptionalism thesis," said Savita Subramanian, equity strategist at Bank of America. "No other country has the option, albeit a bad one, of printing money to pay their debt."



&#8220;Political gridlock, massive deficits, and trade protectionism have cast doubt on the durability of the dollar's dominance. But for all the grumbling, there's still no real alternative,&#8221; said veteran Wall Street strategist Ed Yardeni.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45616116/trumps-tariffs-may-trigger-an-inflation-shock-but-not-a-lasting-one-goldman-sachs-says">Trump&#8217;s Tariffs May Trigger An Inflation Shock &#8211; But Not A Lasting One, Goldman Sachs Says </a></li>
</ul>



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SAABF

Wall Street Dominance Faces Crucial Test As Global Stocks Soar To 2008 Highs

A major gold exchange-traded fund recorded its steepest capital exodus in nearly three years this May, casting doubts over investor appetite for traditional safe-haven assets—but some analysts suggest the bull cycle <a href="https://www.benzinga.com/topic/gold">is far from over.</a>



<h3 class="wp-block-heading">$2.1 Billion Outflows Rock SPDR Gold ETF</h3>



The SPDR Gold Trust ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) saw outflows totaling $2.1 billion in May, marking its worst monthly withdrawal since July 2022. 



The sell-off follows three straight months of heavy inflows, during which the fund attracted approximately $7.5 billion, reflecting a major reversal in sentiment.



The outflows come as gold prices moved sideways in May, set to close the month broadly unchanged after a robust four-month rally that pushed prices to a record high of $3,500 an ounce in mid-April.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="535" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/28091555/image-364-1024x535.png" alt="" class="wp-image-929914" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/28091555/image-364-1024x535.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/28091555/image-364-300x157.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/28091555/image-364-768x401.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/28091555/image-364-1536x803.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/28091555/image-364-2048x1070.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h3 class="wp-block-heading">US-China Truce Dampens Demand For Gold</h3>



A key reason behind the fading appetite for gold appears to be the May 12 trade agreement between the U.S. and China, which saw both nations slash tariffs by 115 percentage points and resume negotiations. 



That same day, gold plunged 2.7%, its sharpest daily decline since November 2024. With geopolitical fears cooling, some traders may be reallocating capital away from defensive assets like gold.



The S&amp;P 500, as tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), is up 6.7% in May, eyeing its strongest month since November 2023, reflecting investor shift towards riskier assets. 



Meanwhile, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) reached record highs at $112,000, and is up 16% for the month. 



<h3 class="wp-block-heading">Long-Term Bull Run Still Intact?</h3>



Despite May's weakness, gold remains one of 2025's standout assets. In the first five months of the year, gold has rallied 26%, outperforming all major asset classes. 



For comparison, the S&amp;P 500 is up just 0.6%, the U.S. dollar is down 8%, long-dated Treasuries – tracked by the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) – have fallen 3%, and Bitcoin has gained 16%.



Gold's current bullish wave dates back to October 2022, from which prices have doubled. In the past 14 months, gold closed 11 months in positive territory—a clear indication of sustained bullish momentum.



<h3 class="wp-block-heading">Expert Views: Has Gold Peaked Or Is More to Come?</h3>



"It's difficult to work out what gold may do next," said David Morrison, senior market analyst at Trade Nation. He noted that gold's MACD (moving average convergence divergence) momentum indicator has retreated from overbought levels, signaling potential upside. 



"While this means that gold has the potential to rally from here&#8230;it could be that gold has already topped."



Still, structural demand trends are giving bulls hope.



Goldman Sachs Research expects prices to reach $3,700 per ounce by year-end, driven by safe-haven buying and central bank diversification.



 "Long gold positions sharply improve risk-adjusted portfolio returns during periods where U.S. institutional credibility is challenged," Daan Struyven, commodity analyst at Goldman Sachs, said. 



He highlighted rising public debt and geopolitical fragmentation as key long-term catalysts for higher gold prices. According to Struyven, if private investors shift even a small portion of assets from equities or Treasuries to gold, the price could exceed $4,000 by mid-2026.



Another persistent tailwind is central bank gold demand, which surged after Western sanctions froze Russia's reserves in 2022. Emerging markets, underweight in gold relative to developed peers, are expected to keep buying aggressively. 



Struyven said this trend could account for a 21% base-case gold return by mid-2026.



Now Read:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45622854/trump-may-be-smoking-in-the-dynamite-shed-as-the-big-beautiful-bill-drives-bond-yields-higher">Trump May Be &#8216;Smoking In The Dynamite Shed&#8217; With The Big, Beautiful Bill Pressuring Yields Higher</a></li>
</ul>



Image: Shutterstock

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Gold ETF Bleeds Money At Fastest Pace In 3 Years — Is The Safe-Haven Trade Over?

U.S. stock futures were trading below the flatline on Wednesday after rallying on Tuesday. Futures of major benchmark indices declined in premarket.



Investors will eye the technology bellwether Nvidia Corp.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) first-quarter earnings, which will be announced after the market closes.



The S&amp;P 500 broke a four-day losing streak on Tuesday as the markets opened after a long weekend following Memorial Day. The stocks got a boost from President Donald Trump&#8216;s <a href="https://www.benzinga.com/25/05/45603240/trump-agrees-to-extend-50-tariffs-on-europe-until-july-9-it-was-my-privilege-to-do-so">extension of the 50% tariffs</a> on Sunday till July 9th, which he had initially announced on Friday.



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 97.9% 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>-0.25%</td></tr><tr><td>S&amp;P 500</td><td>-0.22%</td></tr><tr><td>Nasdaq 100</td><td>-0.20%</td></tr><tr><td>Russell 2000</td><td>-0.39%</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 Wednesday. The SPY was down 0.25% to $589.65, while the QQQ declined 0.22% to $520.09, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From Last Session:



U.S. stocks settled higher Tuesday, with information technology, consumer discretionary, and communication services leading gains across all S&amp;P 500 sectors.



In corporate news, AutoZone Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZO#NYSE">AZO</a>) reported weaker third-quarter earnings, while E2open Parent Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETWO#NYSE">ETWO</a>) surged 25% on news of a $2.1 billion acquisition by WiseTech Global.



On the economic front, March&#8217;s S&amp;P CoreLogic Case-Shiller Home Price Index rose 4.1% year-over-year, and new manufactured goods orders dipped 6.3% in April.



<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>2.47%</td><td>19,199.16</td></tr><tr><td>S&amp;P 500</td><td>2.50%</td><td>5,921.54</td></tr><tr><td>Dow Jones</td><td>1.78%</td><td>42,343.65</td></tr><tr><td>Russell 2000</td><td>2.48%</td><td>2,090.40</td></tr></tbody></table></figure>



Insights From Analysts:



Jurrien Timmer, the director of global macro at Fidelity Investments, explained in his note that the <a href="https://www.benzinga.com/25/05/45637914/jurrien-timmer-says-cyclical-bull-market-likely-over-in-feb-2025-expects-rangebound-scenario-modest-bear-market-is-now-underway">market was rangebound</a> and lower and upper boundaries for the market have been set. 



He highlighted that stocks were down 20% and they have recovered since, "That suggests that while the lower boundary for this market correction may have been established, so has the upper boundary."



"All this puts me firmly in the trading range camp in terms of what the next 6-12 months will bring. I suspect that this range might be defined by the April low of 4835 as the lower boundary, and the recent highs of 6000 as the upper boundary," he explained.



If Timmer&#8217;s range-bound market forecast holds, the cyclical bull market that began in October 2022 likely concluded in February 2025, after 30 months.



He added that "a new modest bear market is now underway," saying, "Bear markets consist of both a price and time element, and if this one lasts 6-12 months it would meet both conditions."



Meanwhile, Fabio Bassi, JPMorgan&#8217;s head of cross-asset strategy, also told CNBC that the S&amp;P 500 could &#8220;remain rangebound, with limited short-term upside.&#8221; &#8212; <a href="https://www.cnbc.com/2025/05/27/dont-expect-the-market-to-go-anywhere-this-summer-says-jpmorgan.html" title="https://www.cnbc.com/2025/05/27/dont-expect-the-market-to-go-anywhere-this-summer-says-jpmorgan.html">https://www.cnbc.com/2025/05/27/dont-expect-the-market-to-go-anywhere-this-summer-says-jpmorgan.html</a>



&#8220;The rally to our bull case scenario of 5,800 for S&amp;P 500 has played out, but from here we expect a consolidation and range-bound dynamic," Bassi explained.



Meanwhile, Ed Yardeni said in his note that &#8220;The widely feared global sovereign debt crisis has been postponed for another day.&#8221;



The yields on super-long Japanese government bonds (JGBs) fell sharply on Tuesday after Reuters reported that the country&#8217;s finance ministry might issue fewer of these bonds.



He explained that this &#8220;helped to bring down the US 10-year Treasury yield from 4.51% on Friday to 4.46% (On Tuesday).&#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 Wednesday:



<ul class="wp-block-list">
<li>Minneapolis Fed President Neel Kashkari will speak in Tokyo again at 4:00 a.m., and minutes of the Fed&#8217;s May FOMC meeting will be out by 2:00 p.m. ET.</li>
</ul>



Stocks In Focus:



<ul class="wp-block-list">
<li>DICK&#8217;S Sporting Goods Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKS#NYSE">DKS</a>) fell 0.63% in premarket on Wednesday as analysts expect it to report quarterly earnings of $4.34 per share on revenue of $3.59 billion, before the opening bell.</li>



<li>Abercrombie &amp; Fitch Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANF#NYSE">ANF</a>) was up 0.51% ahead of its earnings, which are supposed to be released before the opening bell. Analysts expect earnings of $1.40 per share on revenue of $1.08 billion.</li>



<li>NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) was 0.044% above the flatline as analysts expect it to report quarterly earnings of 88 cents per share on revenue of $43.54 billion, after the closing bell.</li>



<li>HP Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPQ#NYSE">HPQ</a>) advanced 0.39% ahead of its earnings, which are supposed to be released after the closing bell. Analysts expect earnings of 80 cents per share on revenue of $13.15 billion.</li>



<li>Box Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>) surged 11.48% after posting better-than-expected first-quarter results and raised its FY2026 guidance after Tuesday's closing bell.</li>



<li>Macy&#8217;s Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) was 1.08% higher as analysts expect it to report quarterly earnings of 15 cents per share on revenue of $4.43 billion, before the opening bell.</li>



<li>Travelers Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) was 0.14% lower after it signed a definitive agreement to sell the personal insurance business and the majority of the commercial insurance business of Travelers Canada to Definity Financial Corporation.</li>
</ul>



Commodities, Gold, And Global Equity Markets:



Crude oil futures were trading higher in the early New York session by 0.77% to hover around $61.36 per barrel.



Gold Spot US Dollar rose 0.67% to hover around $3,322.61 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was higher by 0.01% at the 99.5330 level.



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



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/general/market-summary/25/05/45635906/sp-500s-expensive-valuation-combined-with-all-time-high-household-holdings-a-look-at-where-us-stock-market-stands">S&amp;P 500&#8217;s Expensive Valuation Combined With All-Time High Household Holdings: A Look At Where US Stock Market Stands </a></li>
</ul>



Photo courtesy: godongphoto / Shutterstock.com

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US Stocks Likely To Open Lower Ahead Of Nvidia's Q1 Earnings: 'A New Modest Bear Market Is Now Underway,' Says Expert

Florida Governor Ron DeSantis has enacted a new law, opening the doors for transactions using gold and silver in the state. This move is seen as a nod to the original &#8220;gold standard.&#8221;



What Happened: DeSantis signed the bill, HB 999, into law, allowing Floridians to use gold and silver for transactions. DeSantis hailed this as a &#8220;landmark piece of legislation,&#8221; offering residents &#8220;more independence&#8221; from a fiat currency, <a href="https://www.firstcoastnews.com/article/news/regional/florida/desantis-signs-bill-allowing-transactions-using-gold-silver-in-florida/77-fc00a45a-4a45-439f-befa-8ba2933722e7">reported</a> First Coast News.



Under the new law, gold and silver are now exempt from sales tax, and money services businesses like PayPal (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) are allowed to send and receive payments using these metals.



DeSantis expressed that the metals will serve as &#8220;real currency again&#8221; and not just &#8220;investment vehicles for the wealthy.&#8221; He believes that the law would enable Florida residents to safeguard themselves against &#8220;the declining dollar.&#8221;&nbsp;As of now, fewer than a quarter of all states—including Louisiana, Texas, South Carolina, and Utah—recognize gold and silver as legal tender. The new law is scheduled to go into effect on July 1, 2026. SEE ALSO:&nbsp;<a href="https://benzinga.com/news/25/05/45635854/elon-musk-disappointed-with-trumps-big-beautiful-bill-says-it-undermines-the-work-that-the-doge-team-is-doin" target="_blank" rel="noreferrer noopener">Elon Musk &#8216;Disappointed&#8217; With Trump&#8217;s &#8216;Big Beautiful Bill,&#8217; Says It &#8216;Undermines The Work That The DOGE Team Is Doing&#8217;</a>



Why It Matters: This move comes at a time when the U.S. dollar&#8217;s confidence is wavering. The recent slide of the U.S. dollar has <a href="https://www.benzinga.com/markets/commodities/25/05/45617358/gold-demand-holds-firm-as-dollar-confidence-wavers">reignited </a>investor interest in gold. Factors such as geopolitical uncertainty and concerns over the long-term sustainability of American fiscal policy have been driving this trend.



Moreover, the U.S. dollar was <a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45608523/the-dollar-is-15-20-overvalued-and-history-says-it-wont-last">trading </a>15–20% above its long-term fair value. Analysts at KKR &amp; Co. Inc. predicted the era of dollar-fueled outperformance in U.S. assets was likely nearing its end. According to them, the greenback may gradually fall below its fair value and stay weak for years, correcting its overvaluation through a prolonged, steady decline rather than a sharp crash.



SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) surged 39.56% over the past year, while the US Global GO GOLD and Precious Metal Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOAU#NYSE">GOAU</a>) soared 36.78%. 



<ul class="wp-block-list">
<li>READ MORE:&nbsp;<a href="https://benzinga.com/news/25/04/44778357/giuliani-criticizes-trumps-doj-and-fbi-im-very-upset-right-now" target="_blank" rel="noreferrer noopener">Giuliani Criticizes Trump&#8217;s DOJ and FBI: &#8216;I&#8217;m Very Upset Right Now&#8217; &#8211; Benzinga</a></li>
</ul>



Image via Shutterstock



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

GOAU

PYPL

Ron DeSantis Signs Law Allowing Gold, Silver For Transactions In Florida, Citing 'Declining Dollar' Concerns

The U.S. government will retain significant control over United States Steel Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) through a golden share arrangement as part of Nippon Steel Corp.&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NPSCY#OTC">NPSCY</a>) proposed $14.9 billion acquisition, according to Sen. David McCormick (R-Pa.). 



What Happened: The golden share mechanism will grant Washington veto power over key operational decisions at the iconic American steelmaker. 



McCormick <a href="https://www.youtube.com/watch?v=QL71vaeEvn0">told</a> CNBC that the arrangement requires U.S. government approval for certain board appointments and prevents production cuts without federal consent.



&#8220;It&#8217;ll be a U.S. CEO, a U.S. majority board and then there will be a golden share, which will essentially require U.S. government approval of a number of the board members,&#8221; McCormick said on Tuesday. The structure ensures &#8220;production levels aren&#8217;t cut and things like that.&#8221;



The arrangement stems from a national security agreement (NSA) the companies will sign with the U.S. government, according to McCormick. However, two sources told Reuters the golden share concept remains under consideration and has not been finalized.



See Also: <a href="https://www.benzinga.com/25/05/45637573/chinas-robot-dog-lead-could-outpace-us-humanoid-efforts-says-ark-invest-a-hole-in-tesla-figure-and-apptroniks-portfolio">China&#8217;s Robot Dog Lead Could Outpace US Humanoid Efforts: &#8216;A Hole In Tesla, Figure And Apptronik&#8217;s Portfolio,&#8217; Says Analyst</a>



Why It Matters: U.S. Steel shares climbed 1.98% to $53.04 on Tuesday. The stock has surged over 20% since President Donald Trump&#8216;s <a href="https://www.benzinga.com/25/05/45596866/president-trump-approves-us-steel-nippon-steel-partnership">recent social media endorsement of what he termed</a> a &#8220;planned partnership.&#8221;



The deal faced opposition from both Trump and former President Joe Biden, who formally <a href="https://www.benzinga.com/markets/equities/25/05/45510183/nippon-steel-pledges-14-billion-including-new-us-mill-to-win-trumps-approval-for-us-steel-deal-report">blocked it in January</a>, citing national security concerns. 



Trump launched a fresh Committee on Foreign Investment review in April. His recent <a href="https://www.benzinga.com/25/05/45596866/president-trump-approves-us-steel-nippon-steel-partnership">approval came with conditions</a> that the partnership create &#8220;at least 70,000 jobs&#8221; and inject &#8220;$14 billion into the U.S. economy.&#8221; The president emphasized that U.S. Steel would remain &#8220;controlled by the USA.&#8221;



Photo courtesy: Poetra.RH / Shutterstock.com



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45637573/chinas-robot-dog-lead-could-outpace-us-humanoid-efforts-says-ark-invest-a-hole-in-tesla-figure-and-apptroniks-portfolio">China&#8217;s Robot Dog Lead Could Outpace US Humanoid Efforts: &#8216;A Hole In Tesla, Figure And Apptronik&#8217;s Portfolio,&#8217; Says Analyst</a></li>
</ul>



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

NPSCY

US Government To Hold Strategic Control Over US Steel In $14.9 Billion Nippon Deal, David McCormick Says

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



U.S. stocks settled higher on Tuesday, with the Dow Jones jumping more than 700 points during the session to snap a four-day losing streak amid renewed optimism surrounding trade talks between the U.S. and the European Union. President Donald Trump announced the extension of the 50% tariffs on Sunday till July 9, which he had initially announced on Friday.



AutoZone Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZO#NYSE">AZO</a>) reported weaker-than-expected third-quarter earnings. Shares of E2open Parent Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETWO#NYSE">ETWO</a>) jumped around 25% after the company announced WiseTech Global will acquire them for $2.1 billion in an all-cash deal.



On the economic data front, the S&amp;P CoreLogic Case-Shiller Home Price Index increased 4.1% year-over-year in March, following a 4.5% gain in February. New orders for manufactured goods dipped by 6.3% to $296.3 billion in April, recording the sharpest decline since January 2024.



All sectors on the S&amp;P 500 closed on a positive note, with information technology, consumer discretionary and communication services stocks recording the biggest gains on Tuesday.



The Dow Jones closed higher by around 741 points to 42,343.65 on Tuesday. The S&amp;P 500 jumped 2.05% to 5,921.54, while the Nasdaq Composite gained 2.47% to 19,199.16 during Tuesday's session.



Investors are awaiting earnings results from DICK&#8217;S Sporting Goods Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKS#NYSE">DKS</a>), HP Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPQ#NYSE">HPQ</a>) and Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) today.



What is CNN Business Fear &amp; Greed Index?



At a current reading of 65, the index remained in the &#8220;Greed&#8221; zone on Tuesday, versus a prior reading of 63.9.



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



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/05/45616471/jim-cramer-says-rocket-is-a-very-fine-company-recommends-buying-this-health-care-stock">Jim Cramer Says Rocket Is A &#8216;Very Fine&#8217; Company, Recommends Buying This Health Care Stock</a> </li>
</ul>



Photo courtesy: Shutterstock

Earnings

Dow Surges Over 700 Points Following EU Tariff Delay: Investor Sentiment Improves, Fear Index Remains In 'Greed' Zone

Leading cryptocurrencies rose Tuesday, helped by improved consumer confidence and the Trump family&#8217;s foray into the Bitcoin treasury space.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 9:50 p.m. ET)</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>+0.54%</td><td>$108,887.61</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+4.46%</td><td>$2,641.03</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+1.95%</td><td>$0.2259</td></tr></tbody></table></figure>



What Happened: The apex cryptocurrency tapped the high $110,000s in the early morning hours before sliding to the $108,000 region overnight.



Ethereum saw greater momentum as the second-largest cryptocurrency jumped 4.5% in the last 24 hours, reaching an intraday high of $2,712.29.&nbsp;



As of this writing, Ethereum has outperformed its senior sibling in the second quarter, up 45% to Bitcoin&#8217;s 31% increase.



The moves come after Trump Media &amp; Technology Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>), a firm co-founded and <a href="https://in.benzinga.com/25/03/44268596/trumps-net-worth-plummets-by-nearly-300m-as-djt-stock-drops-to-its-lowest-since-october">majority-owned by</a> President Donald Trump, announced it will use the proceeds of a <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45635335/donald-trump-jr-says-we-are-seriously-long-bitcoin-and-after-tmtg-reveals-treasury-strategy">$2.5 billion private offering</a> to create a Bitcoin treasury.



Meanwhile, over $231 million was liquidated from the cryptocurrency market in the last 24 hours, with the majority being bearish short bets.



Bitcoin&#8217;s Open Interest rose 1.87% in the last 24 hours, while Ethereum saw a 7.68% jump in funds locked in its derivatives. More than 57% of Binance traders with open ETH positions were positioned long as of this writing.



Top Gainers (24-Hours)



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 9:50 p.m. ET)</td></tr><tr><td>Virtuals Protocol (VIRTUAL)</td><td>+17.42%</td><td>$2.46</td></tr><tr><td>PancakeSwap (CAKE)</td><td>+14.98%</td><td>$2.82</td></tr><tr><td>SPX6900 (SPX)</td><td>+4.87%</td><td>$3.01</td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.44 trillion, following a spike of 1.31% in the last 24 hours.



Stocks lifted on the first day of the holiday-shortened trading week. The Dow Jones Industrial Average gained 740.58 points, or 1.78%, to end at 42,343.65. The S&amp;P 500 added 2.05% to close at 5,921.54, while the tech-heavy Nasdaq Composite rallied 2.47% to end at 19,199.16.



The market reacted to Trump's decision <a href="https://www.benzinga.com/25/05/45603240/trump-agrees-to-extend-50-tariffs-on-europe-until-july-9-it-was-my-privilege-to-do-so">to delay the 50% tariffs on European Union imports</a> until July 9 from June 1. Additionally, U.S. <a href="https://www.benzinga.com/government/regulations/25/05/45621929/confidence-bounces-back-thanks-to-us-china-deal-but-consumers-still-play-it-safe">consumer confidence rebounded in May</a>, fueled by a recovering stock market and hopes tied to easing U.S.-China trade tensions.



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



Analyst Notes: Cryptocurrency analyst and trader Ali Martinez indicated that Bitcoin's top could be some time away.



"Bitcoin traders are currently sitting on 27% average profits. Historically, things start to look toppy once profits exceed 40%," Martinez added.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> traders are currently sitting on 27% average profits. Historically, things start to look toppy once profits exceed 40%. <a href="https://t.co/LdXDqNQrO9">pic.twitter.com/LdXDqNQrO9</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1927449729232683320?ref_src=twsrc%5Etfw">May 27, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Another widely followed cryptocurrency commentator, Michaël van de Poppe, said ETH was looking primed for a breakout above $3,000.



"ETH is probably the best play to have in your base portfolio," he stated.



<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">Things can change quickly. This one is also looking for a breakout upwards to $3,000+.<a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> is probably the best play to have in your base portfolio. <a href="https://t.co/G8hD6CR9Id">pic.twitter.com/G8hD6CR9Id</a>&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1927314085277810904?ref_src=twsrc%5Etfw">May 27, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo Courtesy: Yalcin Sonat On Shutterstock.com



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



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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45627312/bitcoin-whale-in-stormy-waters-down-55-million-from-all-time-high-in-4-days">Bitcoin Whale In Stormy Waters, Down $55 Million From All-Time High In 4 Days</a></li>
</ul>

Movers

$DOGE

$ETH

Bitcoin, Ethereum, Dogecoin Gain After Trump Media's Planned BTC Investment, Consumer Optimism: Analyst Says This Large Crypto Is 'Best Play' In Base Portfolio At The Moment

On Tuesday, Cathie Wood-led Ark Invest executed notable trades involving NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>). These trades come amid significant market developments and strategic shifts, capturing the attention of investors and analysts alike.



The Tesla Trade



Ark Invest made a significant decision to sell shares of Tesla on Tuesday. The trade involved the sale of 27,377 shares through the ARK Innovation ETF (BATS: ARKK). This move comes as Tesla&#8217;s stock experienced a 6.94% surge, reaching $362.89 for the day. Ark&#8217;s Tesla transaction was valued at $9.9 million.



On Tuesday, Elon Musk emphasized his <a href="https://www.benzinga.com/news/25/05/45623941/tesla-stock-rises-as-elon-musk-pledges-renewed-focus-on-company-whats-going-on">renewed commitment</a> to Tesla in a social media post, stating he is now &#8220;spending 24/7 at work,&#8221; which has sparked investor interest.



The Nvidia Trade



Ark Invest also made a strategic purchase of NVIDIA shares, acquiring 21,504 shares through the ARKK ETF and an additional 13,039 shares via the ARK Next Generation Internet ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#BATS">ARKW</a>). This acquisition occurs as Nvidia prepares to release its <a href="https://www.benzinga.com/trading-ideas/movers/25/05/45629981/nvidia-amd-shares-climb-as-tariff-delay-boosts-tech-sector-whats-going-on">first-quarter earnings</a>, with expectations of an EPS of $0.88 and revenue of $43.54 billion. Nvidia&#8217;s stock has seen a 20.75% increase over the past month, driven by strong technical indicators and anticipation of its earnings report. The purchase by Ark Invest highlights confidence in Nvidia&#8217;s position as a leader in AI technology, despite geopolitical challenges.



On Tuesday, Nvidia stock rose 3.2% for the day at $135.50. The stock purchase by Wood was valued at $4.7 million.



The AMD Trade



Ark Invest&#8217;s interest in AMD was evident with the purchase of 50,837 shares through the ARKK ETF and 46,231 shares via the ARKW ETF. This move aligns with AMD&#8217;s growing presence in the AI sector, positioning itself as a formidable competitor to Nvidia. The recent delay in tariffs on European Union imports by President Donald Trump has provided a <a href="https://www.benzinga.com/trading-ideas/movers/25/05/45629981/nvidia-amd-shares-climb-as-tariff-delay-boosts-tech-sector-whats-going-on">boost to AMD&#8217;s stock</a>, contributing to a broader tech sector rally.



For the day, AMD stock rose 3.85% to $114.56, making Ark&#8217;s purchase worth $11.1 million.



Other Key Trades:



<ul class="wp-block-list">
<li>Sold 1,104,945 shares of 3D Systems Corp through the ARKQ ETF and 257,346 shares through ARKX..</li>



<li>Bought 230,450 shares of CRISPR Therapeutics AG via the ARKK ETF and 32,009 through ARKG.</li>



<li>Sold 95,589 shares of Roblox Corp through the ARKK ETF.</li>
</ul>



Benzinga Edge Stock Rankings indicate AMD has a Momentum in the 20th percentile and Growth in the 97th percentile. Here is how you can <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">find out</a> how Nvidia compares.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="442" height="280" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/27210340/Screenshot-2025-05-28-at-10.03.25.png" alt="" class="wp-image-929139" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/27210340/Screenshot-2025-05-28-at-10.03.25.png 442w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/27210340/Screenshot-2025-05-28-at-10.03.25-300x190.png 300w" sizes="(max-width: 442px) 100vw, 442px" /></a></figure>



Photo Courtesy: ChrisStock82 on Shutterstock.com



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<li><a href="https://benzinga.com/25/05/45612848/trumps-recent-wrath-on-apple-ceo-tim-cook-is-also-tied-to-the-middle-east-not-just-india-report" target="_blank" rel="noreferrer noopener">Trump&#8217;s Apple Beef Isn&#8217;t Just About India-Made iPhones — It&#8217;s Also About Skipped Middle East Trip: Report</a></li>
</ul>



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

ARKK

ARKW

TSLA

Cathie Wood Dumps $9.9M Tesla Despite Musk's '24/7' Pledge, Loads Up on Nvidia Before Earnings

White House economic advisor Kevin Hassett claims that the U.S. economy narrowly avoided a recession thanks to the GOP-backed tax bill.



What Happened: Hassett says that had the &#8220;One Big, Beautiful Bill&#8221; not passed in the House, &#8220;it would have been the biggest tax hike in American history,&#8221; while appearing on CNBC&#8217;s Squawk Box on Tuesday.



&#8220;And that big tax hike… would have cut about 4% off of GDP growth. We'd have had a recession,&#8221; says the Director of the National Economic Council, while citing figures from the Council of Economic Advisers and the Congressional Budget Office to support his claim.



See Also: <a href="https://www.benzinga.com/general/education/25/05/45635231/trump-administration-freezes-student-visa-appointments-will-step-up-social-media-surveillance-of-applicants">Trump Administration Freezes Student Visa Appointments, Will Step Up Social Media Surveillance Of Applicants</a>



Hassett explains that during a recession, government revenue tends to fall more steeply than the GDP. &#8220;The elasticity is one and a half,&#8221; he says. &#8220;So it&#8217;s a 6% decline in revenue,&#8221; assuming a 4% drop in economic output. That would amount to &#8220;maybe about $300 billion decline in revenue just this year,&#8221; he says.



He also pushed back against claims of the economy being vulnerable, pointing to recent strength in employment figures and the moderation of inflation. &#8220;We have really strong job numbers. We&#8217;ve got inflation heading down towards the Fed&#8217;s target,&#8221; Hassett said.



Hassett believes the markets were rattled by early uncertainty over the fate of the bill. He adds that the &#8220;Senate is making a great deal of progress,&#8221; and that the &#8220;gap between the Senate and the House is not enormous.&#8221;



Hassett concludes that, &#8220;once that big, beautiful bill is passed, then I think that we're off to the races,&#8221; implying a burst of momentum in the markets, as well as the broader economy.



Why It Matters: Hassett&#8217;s comments come amid growing concerns regarding <a href="https://www.benzinga.com/markets/25/05/45600354/trumps-big-tax-bill-clears-the-house-30-year-yields-jump-to-5-15-as-bond-market-freaks">spiking Treasury yields</a>, with 30-Year notes surging past the key 5% levels last week, owing to the bill&#8217;s provisions for extensive tax cuts and increased spending.



Critics such as Lawrence McDonald of The Bear Traps Report have <a href="https://www.benzinga.com/25/05/45622854/trump-may-be-smoking-in-the-dynamite-shed-as-the-big-beautiful-bill-drives-bond-yields-higher">referred to the bill</a> as being akin to &#8220;smoking in the dynamite shed,&#8221; referring to the long-term implications of rates being &#8220;higher for longer,&#8221; while citing the example of the billions in unrealized losses now facing Japan&#8217;s top insurance companies.



The bill has also come under criticism for its <a href="https://www.benzinga.com/25/05/45535537/trumps-budget-agenda-is-reverse-robin-hood-economics-says-justin-wolferstakes-from-working-families-gives-to-the-rich">cuts to social safety nets</a> and programs, while offering extensive tax cuts to the ultra-wealthy. Economist Justin Wolfers referred to it as &#8220;just pure reverse Robin Hood&#8221; last week, owing to its regressive characteristics. 



Price Action: U.S. 10-Year Treasury yields are now at 4.46%, while the 20-Year and 30-Year notes offer yields of 4.98%, and 4.97%, respectively, marking a retreat from the peak 5% yields last week.



Photo Courtesy: Dilok Klaisataporn On Shutterstock.com



Read More:



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<li><a href="https://www.benzinga.com/personal-finance/25/05/45608058/trump-says-hell-fix-social-security-but-these-4-changes-are-completely-out-of-his-hands">Trump Says He&#8217;ll Fix Social Security — But These 4 Changes Are Completely Out Of His Hands</a></li>
</ul>



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Watch CNBC&#039;s full interview with National Economic Council Director Kevin Hassett" width="500" height="281" src="https://www.youtube.com/embed/qE_vBouvbF8?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div></figure>

Federal Reserve

Trump Economic Advisor Kevin Hassett Says 'We'd Have Had A Recession' But Passing Of 'One Big Beautiful Bill' Helped Avoid The Downturn

As Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) prepares to report earnings on Wednesday, investors are not simply waiting for numbers; they&#8217;re listening for a seismic shift in chip geopolitics. With China sales squeezed by a regulatory vise and the <a href="https://www.benzinga.com/news/25/05/45602111/600b-ai-opportunity-nvidias-18000-chip-deal-with-saudi-arabias-humain-puts-middle-east-front-of-the-line-says-wedbushs-dan-ives">Middle East stepping up as an unlikely new purchaser of AI brawn</a>, the question hangs: Will Nvidia&#8217;s transformation remake the semiconductor map and the ETFs that follow it?



Welcome to the era of ETF-lation, where macro headwinds and AI ambitions cross paths to challenge the durability of <a href="https://www.benzinga.com/etfs">chip-laden ETFs</a>.



From Sanctions To Sand Dunes: Nvidia&#8217;s AI Detour



Following a $5.5 billion blow from U.S. export curbs on its H20 chips to China, Nvidia is making lemonade from silicon. Recent transactions in the Middle East, such as the sale of 18,000 Blackwell chips to Saudi Arabia&#8217;s Humain and a multi-country collaboration with the UAE to <a href="https://www.benzinga.com/news/25/05/45602697/abu-dhabi-backed-g42-and-igenius-team-up-to-build-europes-most-powerful-ai-supercomputer-using-nvidia-chips-in-italy">establish an AI campus</a>, are turning out to be the company&#8217;s new money-making frontier.



These transactions won&#8217;t entirely recoup the estimated $15 billion in FY26 lost sales associated with the ban, but they provide a compelling second-quarter narrative, particularly as President Trump&#8217;s latest Middle Eastern dealstorm puts U.S. tech back on regional center stage.



Also Read: <a href="https://www.benzinga.com/25/05/45292701/alarm-bells-ring-for-nvidia-as-a-likely-98-billion-blow-threatens-an-nvda-stock-crash-the-etfs-most-at-risk-or-opportunity">Alarm Bells For Nvidia As $9.8 Billion Blow Threatens A Crash: ETFs With Most Risk Or Opportunity</a>



ETF Exposure: Who Has the Most Skin In The Chip Game?



For investors in ETFs, Nvidia&#8217;s shift has ripple effects. <a href="https://www.benzinga.com/topic/semiconductors">Semiconductors are notoriously cyclical</a>, but AI is a different game. Here&#8217;s how the most chip-dense funds:



VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>): Nvidia carries the heaviest weight (~21%), so this fund is the most sensitive to tomorrow&#8217;s earnings pyrotechnics whether good or bad.



iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>): As a leading holding (around 8-10%), Nvidia puts SOXX on more diversified exposure of old-line chipmakers such as Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) and Broadcom (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>).



Global X Artificial Intelligence &amp; Technology ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIQ#NASDAQ">AIQ</a>): Less silicon than AI, but still bouncing off the coattails of Nvidia. Middle East alliances would add fuel to AIQ&#8217;s thematic growth story.



Also Read: <a href="https://www.benzinga.com/trading-ideas/long-ideas/25/05/45616366/nvidias-q1-earnings-loom-while-amds-edge-ai-bet-could-change-the-narrative">Nvidia&#8217;s Q1 Earnings Loom, While AMD&#8217;s Edge AI Bet Could Change The Narrative</a>



How A Strong Q2 Outlook Could Rewire Chip ETFs



The newly signed Saudi Arabian deals, especially the sale of 18,000 Blackwell chips to Humain, may provide a strong upside shock to Nvidia&#8217;s second-quarter outlook. If Nvidia&#8217;s management hints that these Middle Eastern deals are driving good revenue growth, it will do more than just support the stock price.



SMH and SOXX might experience a new wave of investor capital as excitement over Nvidia&#8217;s refreshed growth pipeline revives semiconductor exposure confidence. A robust Q2 outlook might lead portfolio managers to add weighting to Nvidia or position more aggressively in chipmakers with exposure to increasing AI infrastructure in the Gulf.



AI-themed ETFs such as AIQ and ROBO Global Robotics and Automation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ROBO#NYSE">ROBO</a>) may catch the narrative wave and receive flows from investors looking to support the &#8216;new AI frontier&#8217; beyond China. This would broaden their theme appeal among global AI growth hunters.



A surprise positive would also mute fears over the $5.5 billion write-off and margin squeeze, cooling the downside pressures that have weighed on chip ETFs in the last few weeks.



Risk, Meet Rotation



<a href="https://www.benzinga.com/25/05/45612246/nvidia-to-be-hit-by-china-chip-export-curbs-or-deliver-q2-guidance-surprise-after-middle-east-dealmaking-heres-what-charts-show-ahead-of-q1-results">Bank of America cautioned a gross margin decline</a>, from 71% to 58%, as a result of the $5.5 billion inventory write-down. Pro forma EPS could miss consensus by up to 16%, declining to $0.74. Nonetheless, the company has a &#8220;Buy&#8221; rating with a $160 price target, depending on long-term AI tailwinds.



This presents a strategic dilemma to ETF investors: double down on semiconductors or swing into more diversified technology and AI funds?



Consider these two strategic plays:



Hold the line on concentrated exposure (SMH/SOXX) if you&#8217;re confident in Middle East-led growth.



Swing into AI-themed ETFs like ROBO, THNQ, or even WTAI for a more diversified innovation play with less Nvidia sensitivity.



Bottom Line: A Fork In The AI Road



As tensions between the U.S. and China heighten and AI infrastructure explodes elsewhere, ETF managers might have to reevaluate country-specific threats and demand pipelines.



If Nvidia reports high guidance tomorrow, chip-heavy funds can take off. If it doesn&#8217;t, investors might begin to look around for who&#8217;s next in the AI battle and which ETFs are best poised to profit.



Either way, the silicon tale is no longer an American or a Chinese one; it&#8217;s global, geopolitical, and coming directly into your ETF screen.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/05/45627370/etf-showdown-voo-gains-billions-while-spy-ivv-bleed-cash">ETF Showdown: VOO Gains Billions While SPY, IVV Bleed Cash</a></li>
</ul>



Photo: Shutterstock

Sector ETFs

AVGO

INTC

ROBO

SOXX

Nvidia's Q1 Earnings May Mark A Turning Point For Chip ETFs

Okta Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKTA#NASDAQ">OKTA</a>) reported financial results for the first quarter after the market close on Tuesday. Here&#8217;s a rundown of the <a href="https://www.benzinga.com/pressreleases/25/05/b45629961/okta-announces-first-quarter-fiscal-year-2026-financial-results">cloud-native cybersecurity company&#8217;s report</a>.



Q1 Earnings: Okta reported first-quarter revenue of $688 million, beating analyst&nbsp;<a href="http://benzinga.com/quote/okta/earnings" target="_blank" rel="noreferrer noopener">estimates</a>&nbsp;of $680.25 million. The company reported adjusted earnings of 86 cents per share, beating analyst estimates of 77 cents per share.



Okta has a history of consistently beating analyst estimates on the top and bottom lines, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.



Total revenue was up 12% on a year-over-year basis as subscription revenue also climbed 12%. Remaining performance obligations totaled $4.08 billion at quarter&#8217;s end, up 21% year-over-year.



Net cash provided by operations was&nbsp;$241 million, up from $219 million in the prior year's quarter. Okta generated free cash flow of $238 million in the first quarter, up from $214 million year-over-year. 



The company ended the quarter with approximately $2.73 billion in cash, cash equivalents and short-term investments.



&#8220;Okta had a solid start to FY26 highlighted by record operating profit and another quarter of robust free cash flow. The world&#8217;s biggest organizations continue to turn to Okta to solve identity security across their workforces, customers, and AI use cases,&#8221; said&nbsp;Todd McKinnon, co-founder and CEO of Okta.



Guidance:&nbsp;Okta expects second-quarter revenue of $710 million to $712 million. The company anticipates second-quarter adjusted earnings&nbsp;of 83 to 84 cents per share.



&#8220;We remain focused on driving profitable growth, accelerating innovation, and delivering the only modern, unified identity security platform for our customers,&#8221; McKinnon said.



Okta expects full-year 2026 revenue to be in the range of $2.85 billion to $2.86 billion. The company expects full-year adjusted earnings of $3.23 to $3.28 per share.



Okta noted that the company is now factoring in potential risks related to macroeconomic uncertainty for the remainder of the year. Okta&#8217;s management team will further discuss the quarter on a conference call with investors and analysts at 5 p.m. ET.



OKTA Price Action: <a href="https://www.benzinga.com/quote/OKTA" target="_blank" rel="noreferrer noopener">Okta shares</a> were down 11.08% in Tuesday&#8217;s after-hours session, trading at $111.74 at the time of publication, according to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/government/regulations/25/05/45627060/wall-street-rockets-as-bond-yields-drop-tesla-hits-3-month-highs-whats-driving-markets-tuesday">Wall Street Rockets As Bond Yields Drop, Tesla Hits 3-Month Highs: What&#8217;s Driving Markets Tuesday?</a></li>



<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/05/45616366/nvidias-q1-earnings-loom-while-amds-edge-ai-bet-could-change-the-narrative">Nvidia&#8217;s Q1 Earnings Loom, While AMD&#8217;s Edge AI Bet Could Change The Narrative</a></li>
</ul>



Photo: <a href="https://www.shutterstock.com/g/Andrei+Stanescu">Sundry Photography</a>/Shutterstock.

Guidance

After-Hours Center

OKTA

Okta Beats Q1 Earnings Estimates, Shares Tumble On Cautious Guidance Commentary

While stocks languish below all-time highs, the cryptocurrency market has entered a new bull phase, with Bitcoin hitting all-time highs last week. As direct cryptocurrency investment has gained traction, many investors are now exploring public companies with significant exposure to digital assets. 



Investing in cryptocurrencies is easier for those of us who already have a brokerage account, though it&#8217;s crucial to understand the risks. 



Cryptocurrency markets are inherently volatile, even more so than small caps. Dramatic price swings driven by speculation and sentiment are common. The ever-evolving regulations and technological developments give the space a Wild West feel.



Investing in stocks with fortunes tied to Bitcoin or other digital currencies introduces an even greater layer of unpredictability and risk than conventional stock picking.



That unpredictability and volatility is a risk. But it can also send these stocks soaring.



In this article, we'll pick four stocks that can outperform in a Bitcoin bull market based on technical signals, earnings potential, and the amount of digital assets they hold. Word to the wise: always use an extra measure of caution when investing in crypto-adjacent companies.



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



Coinbase  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), one of the first companies to offer cryptocurrency investing to retail traders, became the first cryptocurrency exchange to go public in April 2021. The stock quickly shot over $300 per share following the IPO, topping out at $353 at the peak of the 2021 Bitcoin bull market in November. However, like the broader crypto market, Coinbase entered a bear market in 2022, dropping under $50 per share by the start of 2023. Despite its massive market cap and customer base, the stock didn't participate in the 2023 market recovery and only started showing renewed strength once the rally extended to 2024.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfunWdsxqH2-mZLKHcpgU9vQZQJv8IyqtAuLLnRSgRJdilcD9NAIRhShwZMLlDei5fexmCNrFvJgRbNgLUoAotla78XIlUxrb8zwxGr6mUmC7f_w34tDKJNuwuQSOqkFNhkocP2kg?key=4EP4ZqrnKMWz_ZR-254PyQ" alt=""/></figure>



Much like the price of Bitcoin, COIN shares declined for the second half of 2024 before rallying again on Donald Trump's presidential victory in hopes of relaxed crypto regulation. Then, another extended decline followed Inauguration Day, and the stock suffered a 50% haircut. However, now that Bitcoin is reaching new all-time highs, COIN shares have joined in on the fun again, and a new all-time high for the exchange might not be far behind.



The daily chart above shows the stock breaking out of its downtrend thanks to a 16% gain on May 13 on heavy volume. Coinbase reported over $1.2 trillion in trading volume in 2024. Analysts at Goldman Sachs, Benchmark, Oppenheimer, and Rosenblatt have all boosted price targets in the last two weeks. Based on current prices, Coinbase also owns 6,885 Bitcoins in its treasury, worth an estimated $750 million. 



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



Robinhood  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) ushered in the commission-free stock trading era, and its 2021 IPO was one of the most heavily anticipated issues in years. But after jumping over $50 per share in the fall of 2021, the stock swooned and, unlike Coinbase, did not experience a new bull run when the market turned in 2023. It took until September 2024 for HOOD shares to sustain a price over $20, but the recent rally has been impressive and should have legs if crypto keeps ascending.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXff4TFbfpi92VaI1bzj4T7bZnEOkthFo8vQUnQPaubGjrYbM45tTsDjmA_HYChvvVba_n8lI3t7chZZcrzpXbYbkaXSZSF3iC4IBwgWF_gpmd7BZvYzZJce3b9Fk_9kI31i-Tn4AA?key=4EP4ZqrnKMWz_ZR-254PyQ" alt=""/></figure>



Today, Robinhood offers retirement accounts, banking services, premium features through its Gold subscription program, and a new platform called Legends for active traders. But the company's bread and butter is still crypto and options trading. In Q1 2025, the company reported $583 million in annual transaction-based revenue, including $252 million from cryptocurrency trading. The $252 million figure represents a 100% increase year-over-year; the company expects to grow total revenue by 30% in 2025.



Technical signals are also strong, with the price trading above the 50- and 200-day simple moving averages (SMAs) and recently reaching a new all-time high. Goldman Sachs, Deutsche Bank, and Needham boosted their price targets this month in defense of their Buy ratings. The average of $69 indicates an upside of nearly 10% from current levels.



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



Formerly known as MicroStrategy, Strategy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) is the planet&#8217;s largest public holder of Bitcoin by a fairly wide margin. According to its most recent treasury report, Strategy now owns over 576,000 Bitcoins, more than 2.7% of the total supply and nearly 530,000 more than any other public company. CEO Michael Saylor has replaced much of his former software business with cryptocurrency management, and the stock has swung violently along with Bitcoin's price gyrations.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeHYtUPbhwZTAI1e-g3B4GuaYZuU-um2wGqH53TGJhEx7jzf5DB7U1pk1pgukmN79xL7vLkzqmIUAzmy45h44OwtfEFtzQ2jC4cH3HG1oEWWT3pXcPZw1HtlAXh1Vq8lcVCiYQiUw?key=4EP4ZqrnKMWz_ZR-254PyQ" alt=""/></figure>



Despite a poor track record of Bitcoin profits (the company has spent over $40 billion on its tokens and current holdings are worth just under $63 billion), MSTR shares often move in lockstep with the price of Bitcoin. The chart above is also flashing some interesting technical signals. After failing to sustain a breakout above the 50-day SMA, the stock finally busted through in mid-April and appeared to be tracking a new high before the RSI triggered an overbought signal, and shares declined. This pullback could be a new entry point for the latest Bitcoin bull market run, as Strategy is likely to continue adding Bitcoins to its treasury as the price action accelerates.



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



Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares have been caught in a tug-of-war ever since CEO Elon Musk threw his hat into the political ring. Following Trump's November election win, TSLA shares jumped from $242 to $488 in six weeks. However, following the inauguration, shares plummeted to $225 as auto sales dipped globally amidst Musk's declining popularity.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdYJw6HhB9_mMrg2B6FiZVl68HixYSGXKjmYsxAVpL2CyLaMxmeE5TyfsloFYe0IOYyptScjw93cg0j_8dEB_mRMFTwstKR-uZocV_fkbP1_giqFDoGsfFtk6242FUHeffSG9-hoQ?key=4EP4ZqrnKMWz_ZR-254PyQ" alt=""/></figure>



Musk recently announced plans to forgo political dealings and concentrate on his companies. While that might be a difficult promise to hold in the future, TSLA stock has reacted positively. Despite declining sales, Tesla remains one of the best Bitcoin investors. The company is the fifth largest public owner with 11,500 Bitcoins, and the buys have been well-timed. The entry value of TSLA's Bitcoin holdings is $330 million, but the current value is over $1.2 billion, a gain of nearly 300% that dwarfs the returns of Strategy, which have barely topped 50%. The daily chart also looks bullish, as a double bottom pattern is receiving confirmation from a breakout on the MACD.



<h2 class="wp-block-heading">This ETF Moves When The Market Drops And Matt's Watching It Now</h2>



Volatility is rising—and one ETF tends to spike when chaos hits. Join Matt Maley this Wednesday to see how he trades it short-term using technical signals, sentiment, and tactical options setups. Claim your free seat <a href="https://events2.benzinga.com/matt-maley-webinar-wed-may28-2025-registration/?utm_campaign=webinar052825&amp;utm_adType=sponsorad&amp;utm_ad=RD052825">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

COIN

HOOD

MSTR

4 Crypto Stocks To Consider As Bitcoin Hits New All-Time Highs

Wall Street charged higher Tuesday, with U.S. equities posting broad-based gains by midday as investors embraced a risk-on mood, spurred by easing Treasury yields and renewed optimism surrounding trade talks between the U.S. and the European Union.



The bond market drove a major sentiment shift. U.S. 30-year Treasury yields sank 10 basis points to 4.93%, falling below the psychologically key 5% threshold for the first time in days. 



The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) rallied 1.5%, eyeing the strongest daily gain since late February 2025. 



This move follows a surprise development in Japan, where the Ministry of Finance announced a reduction in the issuance of longer-dated government bonds. That decision triggered an 18-basis-point drop in Japan's 30-year yield, creating a ripple effect that eased pressure across global fixed-income markets.



The sharp decline in yields helped equities rally across the board. The S&amp;P 500 rose 1.9%, extending May&#8217;s gains to more than 6%. The benchmark is now tracking its strongest monthly performance since November 2023.



Technology and small-cap stocks outpaced broader benchmarks, adding momentum to the rally. Every sector in the S&amp;P 500 traded higher on the day. 



Among the mega-caps, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) stood out with a 6.4% gain, reclaiming price levels last seen in mid-February. 



As equity and bond sentiment improved, traditional safe-haven assets lost appeal. Gold prices fell 1%, slipping below $3,300 per ounce. The move reflects investors rotating out of defensive plays amid increasing appetite for risk.



In energy markets, crude oil dropped 1.5% to $60.50 a barrel, while copper prices slid 2.1%, signaling some caution in industrial demand despite the bullish tone in equities.



Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) traded near $110,000, remaining close to its all-time highs. 



<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>Nasdaq 100</td><td>21,406.38</td><td>2.3%</td></tr><tr><td>Russell 2000</td><td>2,085.63</td><td>2.2%</td></tr><tr><td>S&amp;P 500</td><td>5,913.36</td><td>1.9%</td></tr><tr><td>Dow Jones</td><td>42,271.70</td><td>1.6%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 1:15 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>) rallied 1.9% to $590.07.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 1.6% to $422.83.</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;soared 2.3% to $520.83.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 2.3% to $207.26.</li>



<li>The&nbsp;Consumer Discretionary&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) outperformed, up 2.8%; the&nbsp;Consumer&nbsp;Staples Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) lagged, up 0.5%. </li>
</ul>



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



<ul class="wp-block-list">
<li>Hologic Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOLX#NASDAQ">HOLX</a>) jumped 12.7%, paring earlier bigger gains, after the company rejected a non-binding takeover bid worth up to $16.7 billion from private equity firms TPG Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TPG#NASDAQ">TPG</a>) and Blackstone Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>).</li>



<li>PDD Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) tumbled 15% after reporting weaker-than-expected quarterly earnings. </li>



<li>The S&amp;P 500&#8216;s top performers during Tuesday&#8217;s New York session included Hologic Inc., up 14.93%; Tesla Inc., which gained 6.87%; Deckers Outdoor Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>), rising 6.82%; Royal Caribbean Cruises Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>), up 6.66% and Warner Bros. Discovery Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>), climbing 6.61%.</li>



<li>The biggest laggards included Fair Isaac Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FICO#NYSE">FICO</a>), which sank 9.63%; AutoZone Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZO#NYSE">AZO</a>) down 4.55%; VeriSign Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRSN#NASDAQ">VRSN</a>) losing 4.28%; Kroger Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) slipping 1.70% and Copart Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPRT#NASDAQ">CPRT</a>) falling 1.68%.</li>



<li><path fill-rule="evenodd" clip-rule="evenodd" d="M7 5C7 3.34315 8.34315 2 10 2H19C20.6569 2 22 3.34315 22 5V14C22 15.6569 20.6569 17 19 17H17V19C17 20.6569 15.6569 22 14 22H5C3.34315 22 2 20.6569 2 19V10C2 8.34315 3.34315 7 5 7H7V5ZM9 7H14C15.6569 7 17 8.34315 17 10V15H19C19.5523 15 20 14.5523 20 14V5C20 4.44772 19.5523 4 19 4H10C9.44772 4 9 4.44772 9 5V7ZM5 9C4.44772 9 4 9.44772 4 10V19C4 19.5523 4.44772 20 5 20H14C14.5523 20 15 19.5523 15 19V10C15 9.44772 14.5523 9 14 9H5Z" fill="currentColor"></path><path fill-rule="evenodd" clip-rule="evenodd" d="M12.1318 2.50389C12.3321 2.15338 12.7235 1.95768 13.124 2.00775L13.5778 2.06447C16.0449 2.37286 17.636 4.83353 16.9048 7.20993L16.354 8.99999H17.0722C19.7097 8.99999 21.6253 11.5079 20.9313 14.0525L19.5677 19.0525C19.0931 20.7927 17.5124 22 15.7086 22H6C4.34315 22 3 20.6568 3 19V12C3 10.3431 4.34315 8.99999 6 8.99999H8C8.25952 8.99999 8.49914 8.86094 8.6279 8.63561L12.1318 2.50389ZM10 20H15.7086C16.6105 20 17.4008 19.3964 17.6381 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stroke-linejoin="round"></path><path d="M5.66282 16.5231L5.18413 19.3952C5.12203 19.7678 5.09098 19.9541 5.14876 20.0888C5.19933 20.2067 5.29328 20.3007 5.41118 20.3512C5.54589 20.409 5.73218 20.378 6.10476 20.3159L8.97693 19.8372C9.72813 19.712 10.1037 19.6494 10.4542 19.521C10.7652 19.407 11.0608 19.2549 11.3343 19.068C11.6425 18.8575 11.9118 18.5882 12.4503 18.0497L20 10.5C21.3807 9.11929 21.3807 6.88071 20 5.5C18.6193 4.11929 16.3807 4.11929 15 5.5L7.45026 13.0497C6.91175 13.5882 6.6425 13.8575 6.43197 14.1657C6.24513 14.4392 6.09299 14.7348 5.97903 15.0458C5.85062 15.3963 5.78802 15.7719 5.66282 16.5231Z" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round"></path><path d="M14.5 7L18.5 11" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round"></path><div class="text-center"></div><path d="M7.5 13.25C7.98703 13.25 8.45082 13.1505 8.87217 12.9708C8.46129 14.0478 7.62459 15.5792 6.35846 15.76C5.81173 15.8382 5.43183 16.3447 5.50993 16.8914C5.58804 17.4382 6.09457 17.8181 6.6413 17.7399C9.19413 17.3753 10.7256 14.4711 11.169 12.1909C11.4118 10.942 11.3856 9.58095 10.8491 8.44726C10.2424 7.16517 8.92256 6.24402 7.48508 6.25001C5.55895 6.25805 4 7.82196 4 9.74998C4 11.683 5.567 13.25 7.5 13.25Z" fill="currentColor"></path><path d="M16.18 13.25C16.667 13.25 17.1308 13.1505 17.5522 12.9708C17.1413 14.0478 16.3046 15.5792 15.0385 15.76C14.4917 15.8382 14.1118 16.3447 14.1899 16.8914C14.268 17.4382 14.7746 17.8181 15.3213 17.7399C17.8741 17.3753 19.4056 14.4711 19.849 12.1909C20.0918 10.942 20.0656 9.58095 19.5291 8.44726C18.9224 7.16517 17.6026 6.24402 16.1651 6.25001C14.2389 6.25805 12.68 7.82196 12.68 9.74998C12.68 11.683 14.247 13.25 16.18 13.25Z" fill="currentColor"></path><div aria-hidden="true" data-edge="true" class="pointer-events-none h-px w-px"></div>Stocks slated to report earnings after the close include OKTA Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKTA#NASDAQ">OKTA</a>) and Heico Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HEI#NYSE">HEI</a>). Read Now: • <a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45616116/trumps-tariffs-may-trigger-an-inflation-shock-but-not-a-lasting-one-goldman-sachs-says">Trump&#8217;s Tariffs May Trigger An Inflation Shock &#8211; But Not A Lasting One, Goldman Sachs Says</a> Photo: Shutterstock</li>
</ul>

Mid Cap

Econ #s

CPRT

DECK

FICO

HOLX

VRSN

Wall Street Rockets As Bond Yields Drop, Tesla Hits 3-Month Highs: What's Driving Markets Tuesday?

A sharp rebound in inflation tied to Donald Trump's enacted trade tariffs could soon jolt markets, but Goldman Sachs believes this surge will be short-lived, driven by one-off price increases rather <a href="https://www.benzinga.com/topic/expert-ideas">than deeper economic overheating.</a>



In a Tuesday note, the bank's U.S. economist David Mericle said core personal consumption expenditures (PCE) inflation—the Federal Reserve's preferred gauge—will likely rise to 3.6% by the end of 2025. 



That's a notable climb from April's reading of 2.8%, yet Goldman doesn't expect the jump to signal a return to the entrenched inflationary conditions of 2021-2022.



<h3 class="wp-block-heading">Why This Inflation Shock Is Different</h3>



Unlike the pandemic-era inflation, which was powered by demand surges, tight labor markets and massive fiscal transfers, the current shock stems from a one-time shift in relative prices due to tariffs.



"We expect tariffs to provide a one-time price level boost," Mericle said, forecasting a roughly 2% rise in consumer prices over 18 months. 



Goldman estimates that that boost will push core PCE inflation higher by 1 percentage point before fading in 2026 as the base effect wears off.



Three factors support Goldman's benign outlook. 



First, the bank expects sluggish growth. GDP is projected to expand just 1% in 2025—well below its potential—while the unemployment rate drifts higher to 4.5%.



Second, the labor market appears to be normalizing as wage growth indicators have continued to ease. Goldman's composite measure of wage expectations now stands at 2.9%, a pace consistent with inflation below the Fed's 2% target.



Third, consumer dynamics are fundamentally weaker than during the pandemic era. Unlike in 2022, when stimulus checks fueled strong spending, today's consumers are more cautious, limiting businesses' ability to pass on higher costs and discouraging aggressive price hikes.



What Could Go Wrong?



While Goldman remains optimistic, it flags potential risks. Inflation expectations, particularly those measured by the University of Michigan's survey, have climbed past their 2022 highs. Long-term inflation expectations have also edged to multi-decade highs, even before the tariff hikes fully affect consumer prices.



"These are valid concerns," Mericle wrote, though argued technical factors likely exaggerate the Michigan data. Broader market measures of inflation compensation have not shown similar spikes.



A more troubling scenario would unfold if Trump's trade policy escalates further. 



"We would become more worried&#8230; if country-specific tariffs rise back to prohibitive rates," Mericle said, warning that sustained escalation into 2026 could spark supply chain disruptions, shortages and more durable inflation.



Fed Still On Track For Rate Cuts



Despite the tariff-induced inflation spike, Goldman remains confident the Federal Open Market Committee will resume rate cuts once the temporary price pressure fades. 



The firm expects the peak tariff effects to show in inflation data between May and August, with the first rate cut likely in December—assuming inflation shows signs of retraction.



Interest rate traders are pricing in just one 25-basis-point rate cut by the end of the year, according to CME FedWatch data.



Read now: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/25/05/45610247/us-futures-rally-amid-trumps-eu-tariff-extension-volatile-start-for-nikkei-dollar-continues-descent">Trump Tariff Talks Progressing Well, Says EU Trade Commissioner — S&amp;P 500, Nasdaq Futures Rise After Memorial Day</a></li>
</ul>



Photo: Shutterstock

Trump's Tariffs May Trigger An Inflation Shock - But Not A Lasting One, Goldman Sachs Says

Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) may still be the emperor of AI's training stack, but Advanced Micro Devices Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) is making a compelling case to become the infrastructure king of everything else.



With Nvidia set to report first-quarter earnings on Wednesday, <a href="https://www.benzinga.com/quote/NVDA/earnings">Wall Street expects</a> fireworks &#8211; an EPS of 88 cents per share and revenue of $43.54 billion. The stock has surged 20.75% in the past month, and despite being slightly under its eight-day simple moving average (SMA), it&#8217;s flashing strong technicals.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0526"><img loading="lazy" decoding="async" width="631" height="486" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/26115503/Screenshot-2025-05-26-at-9.23.58-PM.png" alt="" class="wp-image-927538" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/26115503/Screenshot-2025-05-26-at-9.23.58-PM.png 631w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/26115503/Screenshot-2025-05-26-at-9.23.58-PM-300x231.png 300w" sizes="(max-width: 631px) 100vw, 631px" /></a></figure>



<a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0526">Chart created using Benzinga Pro</a>



NVDA stock is trading well above its 20, 50, and 200-day SMAs. With a MACD (moving average convergence/divergence) of 6.29 and RSI (relative strength index) nearing overbought at 63.8, the bulls are clearly in control.



Analysts remain solidly bullish. Recent ratings from Wedbush, BofA, and UBS peg an average price target of $170 — implying nearly 30% upside from current levels. NVDA isn't just the leader; it's still the benchmark.



Read Also: <a href="https://www.benzinga.com/markets/equities/25/05/45605521/after-jensen-huang-criticized-us-export-curbs-nvidia-set-to-launch-cheaper-blackwell-ai-chip-for-china-amid-market-share-slide-report">After Jensen Huang Criticized US Export Curbs, Nvidia Set To Launch Cheaper Blackwell AI Chip For China Amid Market Share Slide: Report</a>



<h2 class="wp-block-heading">AMD's Inference-Focused Strategy Finds Tailwinds</h2>



But AMD isn't trying to be Nvidia anymore, which might be the smartest move in the AI arms race.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0526"><img loading="lazy" decoding="async" width="631" height="486" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/26115812/Screenshot-2025-05-26-at-9.24.10-PM.png" alt="" class="wp-image-927539" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/26115812/Screenshot-2025-05-26-at-9.24.10-PM.png 631w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/26115812/Screenshot-2025-05-26-at-9.24.10-PM-300x231.png 300w" sizes="(max-width: 631px) 100vw, 631px" /></a></figure>



<a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0526">Chart created using Benzinga Pro</a>



While AMD has lagged over the past year, down 35.72%, the stock has bounced back 14.44% in the last month. Its recent technicals are mixed — it's trading below its eight-day SMA but above the 20 and 50-day SMAs. The 200-day still looms overhead, yet with a MACD of 4.30 and RSI of 57.67, buying pressure is building.



And then there's the narrative shift.



<h2 class="wp-block-heading">AI Infrastructure Is Evolving – And So Are Investor Preferences</h2>



As Shay Boloor <a href="https://x.com/StockSavvyShay/status/1926981712526881131">puts it</a>, AMD isn't chasing Nvidia&#8217;s crown — it's building a different kingdom. While Nvidia owns training, AMD is positioning for AI's deployment phase: edge computing, sovereign AI, cost-effective inference and modular stacks. Its MI300X chips and ROCm platform aren&#8217;t trying to out-CUDA CUDA — they're solving problems CUDA wasn't built for.



The $10 billion Humain deal? That's about control, not hype. It's a bold pivot from playing catch-up to reshaping the battlefield.



In a world where AI infrastructure is becoming political and every enterprise wants sovereignty, AMD's open, modular approach isn't just a Plan B. It might be Plan A for hyperscalers and governments that don't want to be locked into Nvidia's stack.



NVDA might crush this quarter — again. But as AI evolves from a centralized boom to a decentralized wave, the market may start asking a different question:



Not "Can AMD catch Nvidia?" But "Did we underestimate what AMD is becoming?"



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/25/05/45602111/600b-ai-opportunity-nvidias-18000-chip-deal-with-saudi-arabias-humain-puts-middle-east-front-of-the-line-says-wedbushs-dan-ives">$600B AI Opportunity: Nvidia&#8217;s 18,000-Chip Deal With Saudi Arabia&#8217;s Humain Puts Middle East &#8216;Front Of The Line,&#8217; Says Wedbush&#8217;s Dan Ives</a></li>
</ul>



Photo: Shutterstock

Long Ideas

Nvidia's Q1 Earnings Loom, While AMD's Edge AI Bet Could Change The Narrative

Temu parent&nbsp;PDD Holdings Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) stock declined in premarket on Tuesday after the company reported&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/25/05/g45613521/pdd-holdings-announces-first-quarter-2025-unaudited-financial-results" rel="noreferrer noopener">fiscal&nbsp;first-quarter</a> 2025&nbsp;results.



Revenue grew&nbsp;10%&nbsp;year-on-year to&nbsp;$13.18 billion&nbsp;(95.67 billion Chinese yuan), missing the&nbsp;analyst consensus estimate of&nbsp;$14.17 billion.



Revenues from online marketing services and others rose&nbsp;15%&nbsp;Y/Y to&nbsp;$6.71 billion, and revenues from transaction services grew 6%&nbsp;Y/Y to&nbsp;$6.47 billion.



Also Read: <a target="_blank" href="https://www.benzinga.com/government/regulations/25/05/45348699/us-listed-chinese-stocks-rally-as-countries-agree-to-ease-import-tariffs" rel="noreferrer noopener">US Listed Chinese Stocks Rally As Countries Agree To Ease Import Tariffs</a>



Adjusted operating profit declined by&nbsp;36%&nbsp;Y/Y to&nbsp;$2.52 billion. The adjusted operating margin plunged from 32.9% to 19.1% Y/Y.



The Chinese online retailer&#8217;s adjusted earnings per ADS of&nbsp;$1.56 (11.41 Chinese yuan) decreased from $2.86 (20.72 Chinese yuan) Y/Y, missing the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst consensus estimate</a> of&nbsp;$2.49.&nbsp;



PDD Holdings held&nbsp;$50.2 billion&nbsp;in cash and equivalents as&nbsp;of March 31, 2025. The company generated&nbsp;$2.14 billion&nbsp;in operating cash flow.



Chairman and Co-CEO Lei Chen said its investments in the platform ecosystem weighed on short-term profitability.



A deceleration in growth rate is anticipated as the business expands and challenges arise, a trend that has been further expedited by shifts in the external environment during the first quarter, asserted Jun Liu, VP of Finance of PDD Holdings. Liu also indicated that the company&#8217;s financial results might continue to show the impact of sustained investments in the ecosystem as they provide support to merchants and consumers through uncertain periods.



PDD Holdings stock surged over 23% year-to-date amid the U.S. and China trade truce.



On May 12, U.S. President Donald Trump <a href="https://www.benzinga.com//node/45368852">significantly reduced tariffs on Chinese imports</a> via executive order, signaling a major shift in trade strategy as the United States entered a 90-day period of trade negotiations with China.



Effective May 14, the de minimis tariff rate on low-value Chinese imports was cut from 120% to 54%, a planned increase in the per-postal-item duty from $100 to $200 was suspended, and general Chinese import tariffs were lowered to 10%, suspending 24% of the previously imposed rate for the 90-day negotiation period.



Trump justified these reductions by stating that China has taken &#8220;significant steps to remedy non-reciprocal trade arrangements.&#8221;



This move is particularly noteworthy as it reverses Trump&#8217;s earlier crackdown on Chinese e-commerce platforms like Temu and Shein, which had previously targeted their use of the de minimis exemption, allowing goods valued under $800 to enter the U.S. duty-free.



The prior enforcement had substantial ripple effects, causing Temu to significantly reduce its U.S. advertising spend and its share of Google Shopping ads to drop to zero.



Price Action: PDD stock is trading lower by 18.2% to $97.50 premarket at last check Tuesday.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44909414/google-parent-alphabets-topline-can-withstand-pressure-in-uncertain-macro-scenario-compared-to-peers-analyst" target="_blank" rel="noreferrer noopener">Google Parent Alphabet&#8217;s Topline Can Withstand Pressure In Uncertain Macro Scenario Compared To Peers: Analyst</a></li>
</ul>



Image via Shutterstock

Asia

Temu Parent PDD Does Not Mention Tariffs Impact, Blames 'External Environment' And 'Ecosystem Investments' For Profit Plunge

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



U.S. stocks settled lower on Friday, with the S&amp;P 500 recording losses for the fourth straight session. The Dow Jones index also dipped more than 250 points on Friday.



Shares of Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) fell around 3% on Friday after US President Donald Trump demanded that iPhones sold in the U.S. be manufactured domestically, threatening a 25% tariff on the company otherwise. Later, Trump also announced 50% tariffs on goods from the European Union, effective June 1, as talks between Washington and Brussels cooled.



Shares of Ross Stores, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROST#NASDAQ">ROST</a>) fell around 10% on Friday after the company issued second-quarter EPS guidance below estimates. Deckers Outdoor Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>) shares dropped 20% after the company reported fourth-quarter financial results.



On the economic data front, U.S. sales of new single-family homes climbed by 10.9% from the previous month to an annualized rate of 743,000 units.



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



The Dow Jones closed lower by around 256 points to 41,603.07 on Friday. The S&amp;P 500 fell 0.67% to 5,802.82, while the Nasdaq Composite dipped 1% to 18,737.21 during Friday's session.



Investors are awaiting earnings results from HEICO Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HEI#NYSE">HEI</a>), AutoZone, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZO#NYSE">AZO</a>) and The Bank of Nova Scotia (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BNS#NYSE">BNS</a>) today.



What is CNN Business Fear &amp; Greed Index?



At a current reading of 63.7, the index remained in the &#8220;Greed&#8221; zone on Friday, versus a prior reading of 65.6.



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



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S&P 500 Dips For 4th Session Amid Trump's Tariff Threats: Investor Sentiment Declines, Fear Index Remains In 'Greed' Zone

U.S. stock futures climbed on Monday night following President Donald Trump&#8217;s decision to postpone the planned 50% tariff on the European Union until July 9.



The S&amp;P 500 Futures are up 0.94%, trading at 5,871, Nasdaq Futures trade at 21,189.75, up 1.03%, followed by Dow Futures at 42,027, up 0.85%, following the Memorial Day weekend.



This comes amid the EU&#8217;s trade commissioner, Maros Sefcovic, saying on Monday that he had &#8220;good calls&#8221; with Trump administration officials and was &#8220;fully committed&#8221; to reaching a trade deal by the extended deadline of 9 July, according <a href="https://apnews.com/article/europe-united-states-trade-tariff-deadline-79d65de51e5c935ff7cce1fcfd8fb755">to</a> an Associated Press report.



Sefcovic&#8217;s remarks follow the latest escalation in the trade war, with Trump <a href="https://benzinga.com/25/05/45604427/donald-trumps-eu-tariff-extension-will-see-profit-booking-in-gold-this-is-the-beginning-of-a-currency-war-which-will-eventually-affect-gold">threatening to impose</a> the 50% tariffs on EU imports, saying that the bloc had been &#8220;very difficult to deal with.&#8221; 



Japan&#8217;s benchmark Nikkei 225 had a volatile start on Tuesday, opening lower, but recovering and now trading largely flat, down by 0.08%, or 31 points, at 37,500.39, at the time of writing this. 



Private railway services and domestic entertainment companies are on the ascent, while banks and financial institutions decline amid the nation&#8217;s <a href="https://www.benzinga.com/markets/bonds/25/05/45583866/japan-bonds-surge-sparks-wall-street-bears-warning-of-global-armageddon-calls-jgb-long-end-most-important-thing-for-investors-to-track">unfolding bond crisis</a>.



The U.S. Dollar Index (DXY) continued to decline during the Memorial Day weekend, trading at 98.805, down 0.31% on Monday, extending its losses to 5.61% over the past 12 months.



On Tuesday, investors will be closely watching the earnings results of AutoZone Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZO#NYSE">AZO</a>) and Box Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>) in the lead-up to the results of Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Salesforce Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) later in the week.



The markets were closed on Monday, on account of Memorial Day, a national holiday in the U.S. to honor the men and women who&#8217;ve died while serving in the military. 



Photo Courtesy: Billion Photos on Shutterstock.com



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Trump Tariff Talks Progressing Well, Says EU Trade Commissioner — S&P 500, Nasdaq Futures Rise After Memorial Day

Leading cryptocurrencies fell Monday as trading remained tepid on the Memorial Day holiday.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 9:30 p.m. ET)</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>-1.23%</td><td>$108,006.73</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-1.41%</td><td>$2,523.05</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-2.60%</td><td>$0.2203</td></tr></tbody></table></figure>



What Happened: Bitcoin surged to an intraday high of $110,376.88 in the afternoon before dropping to a low of $107,600 overnight. Ethereum recorded a similar dip in the late hours.



The two blue-chip cryptocurrencies, BTC and ETH, saw slight increases in trading volumes, at 5.47% and 3.54%, respectively.&nbsp;



About $190 million was liquidated from the cryptocurrency market in the last 24 hours, with $136 million in bullish bets getting wiped out.



Bitcoin&#8217;s Open Interest was largely unchanged in the last 24 hours. Over the week, though, the money locked in derivatives has risen nearly 6%.



About 58% of top trader accounts on Binance with open BTC positions were short as of this writing.



The &#8220;Greed&#8221; sentiment prevailed in the market, as indicated by the Crypto Fear and Greed Index.



Top Gainers (24-Hours)



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 9:30 p.m. ET)</td></tr><tr><td>Quant (QNT)</td><td>+8.68%</td><td>$103.62</td></tr><tr><td>Jupiter (JUP)</td><td>+7.30%</td><td>$0.6044</td></tr><tr><td>Four (FORM)</td><td>+4.87%</td><td>$3.01</td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.42 trillion, following a dip of 0.72% in the last 24 hours.



Stock futures continued in the green Monday overnight. The Dow Jones Industrial Average Futures rose 360 points, or 0.86%, as of 9:20 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 spiked 0.94%, while Nasdaq 100 Futures gained 1.04%.



The New York Stock Exchange and the Nasdaq were closed in observance of Memorial Day. Regular trading will resume on Tuesday.



Stocks ended nearly flat on Thursday. The Dow Jones Industrial Average lost 1.35 points to end at 41,859.09. The S&amp;P 500 dipped 0.04% to close at 5,842.01, while the tech-focused Nasdaq Composite closed 0.28% higher at 18,925.73.



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



Analyst Notes: Blockchain analytics firm CryptoQuant highlighted the "deep conviction" of long-term Bitcoin holders.



"While overleveraged short-term traders were flushed out as Bitcoin's price dropped below $111,000 and $109,000, long-term holders have been quietly capitalizing on the reset," CryptoQuant said. "It's clear that long-term investors are using this period of forced selling to increase their exposure."



<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">Late Longs Wiped Out — Long-Term Holders Seize the Opportunity to Accumulate Bitcoin "Overleveraged short-term traders were flushed out… LTHs have been quietly capitalizing on the reset. With the LTH realized cap now surpassing $28B." – By Amr Taha <a href="https://t.co/4NmLvs1AjL">pic.twitter.com/4NmLvs1AjL</a>&mdash; CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1926988095544504626?ref_src=twsrc%5Etfw">May 26, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Cryptocurrency analyst and trader Michaël van de Poppe said ETH falling below $2,400 will provide a "tremendous" opportunity.



"Ethereum rallied from $1,800 to $2,700 in a few days. If there&#8217;s a 10-20% correction, pretty normal, great opportunity to get yourself positioned into it," Van De Poppe opined.



<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">Similarly, I think it&#39;s vital that, if <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> drops beneath $2,400, that will give a tremendous opportunity. Ethereum rallied from $1,800 to $2,700 in a few days. If there&#39;s a 10-20% correction, pretty normal, great opportunity to get yourself positioned into it. <a href="https://t.co/e1bY3iYfxh">pic.twitter.com/e1bY3iYfxh</a>&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1927088096354468031?ref_src=twsrc%5Etfw">May 26, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo Courtesy: Igor Faun On Shutterstock.com



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Bitcoin, Ethereum, Dogecoin Encounter Memorial Day Dip: 'Tremendous' Opportunity In ETH Falling Below $2,400, Says Analyst

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