Doximity (NYSE:DOCS) Stock

DOXIMITY INC-CLASS A

Doximity

Doximity Inc is a digital platform for U.S. medical professionals. The cloud-based platform provides members with tools specifically built for medical professionals, enabling them to collaborate with their colleagues, securely coordinate patient care, conduct virtual patient visits, stay up-to-date with the latest medical news and research, and manage their careers and on-call schedules.

On Tuesday, July 1, U.S. markets closed mixed, the S&amp;P 500 and Nasdaq fell, pulled down by large-cap tech stocks, while the Dow gained. Volatility was high amid low liquidity. Investor optimism from potential stimulus was tempered by market concentration and a <a href="https://www.benzinga.com/news/politics/25/07/46213387/elon-musk-backs-trump-over-gaza-ceasefire-despite-public-spats-credit-where-credit-is-due" target="_blank" rel="noreferrer noopener">Tesla-Trump spat</a>. 
Economic data, including unexpectedly higher job openings, supported the Fed&#8217;s patient stance on rate cuts, shifting focus to Thursday&#8217;s nonfarm payrolls report.
In economic data, U.S. job openings increased to 7.769 million in May. The ISM manufacturing PMI for June rose to 49 compared to market estimates of 48.8. U.S. construction spending declined 0.3% in May to $2,138 billion annually.
Most S&amp;P 500 sectors, including materials, healthcare, and energy, saw gains, but information technology and communication services ended lower.
The Dow rose 0.91% to 44,494.94, the S&amp;P 500 was down 0.11% at 6,198.01, and the Nasdaq declined 0.82% to 20,202.89.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/politics/25/07/46213387/elon-musk-backs-trump-over-gaza-ceasefire-despite-public-spats-credit-where-credit-is-due" rel="noreferrer noopener">Elon Musk Backs Trump Over Gaza Ceasefire Despite Public Spats: &#8216;Credit Where Credit Is Due&#8217;</a>
<h2 class="wp-block-heading">Asia Markets Today</h2>
On Wednesday, Japan&#8217;s Nikkei 225 closed 0.58% lower at 39,755.00, led by losses in the Paper &amp; Pulp, Transport, and Communication sectors.
Australia&#8217;s S&amp;P/ASX 200 was up 0.66% at 8,597.70, led by gains in the A-REITs, Materials, and Metals &amp; Mining sectors.
India&#8217;s Nifty 50 was down 0.37% at 24,221.41, and the Nifty 500 fell 0.30% to 23,544.25.
China&#8217;s Shanghai Composite was down 0.09% at 3,454.79, and Shanghai Shenzhen CSI 300 rose 0.02% to 3,943.68.
Hong Kong&#8217;s Hang Seng index closed the session at 24,221.41, higher by 0.62%
<h2 class="wp-block-heading">Eurozone at 05:45 AM ET</h2>
The European STOXX 50 index was up 0.64%.
Germany&#8217;s DAX index gained 0.25%.
France&#8217;s CAC 40 rose 1.16%.
U.K.&#8217;s FTSE 100 index traded higher by 0.31%.
<h2 class="wp-block-heading">Commodities at 05:45 AM ET</h2>
Crude Oil WTI traded higher by 0.87% at $66.02/bbl, and Brent was up 0.88% at $67.69/bbl.
Oil prices held steady as markets balanced expected OPEC+ supply increases, a weaker dollar, and mixed U.S. economic signals, including a surprise crude inventory build. Geopolitical calm and macro policy ambiguity also influenced trading.
Natural gas fell 0.91% to $3.384.
Gold traded higher by 0.06% to $3,351.12, Silver rose 0.41% to $36.000, and Copper gained 1.59% to $5.1285.
<h2 class="wp-block-heading">U.S. Futures</h2>
At 05:45 AM ET, the Dow Jones futures rose 0.15%, the S&amp;P 500 gained 0.13%, and the Nasdaq 100 was up 0.10%.
<h2 class="wp-block-heading">Forex</h2>
At 05:45 AM ET, the U.S. Dollar Index gained 0.34% to 96.97, USD/JPY was up 0.51% to 144.61, and USD/AUD rose 0.28% to 1.5235.
The dollar index edged up slightly, supported by strong U.S. job openings data, moving away from its recent lows despite ongoing pressure from policy uncertainty and rate cut expectations.
Photo via Shutterstock

Asia

News

Emerging Markets

Eurozone

Futures

Commodities

Forex

Markets

ADIV

AGOV

ASHR

BBEU

BOIL

CQQQ

PowerShares DBmmodity Index Optimum Yield Diversified Fund

EEMA

FLAX

CurrencyShares British Pound Sterling Trust

IEMG

IEUR

KraneShares Trust KraneShares S&P Pan Asia Dividend Aristocrats Index ETF

KDIV

SPEM

USDU

PowerShares DB US Dollar Index Bullish Fund

Asia Markets Mixed, Europe Rises While Dollar Gains - Global Markets Today While US Slept

As EV giant Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) struggles to regain its mojo, Craig Irwin of Roth Capital Partners warned that CEO Elon Musk's growing rift with President Donald Trump could complicate the company's push into autonomous vehicle regulation.
What Happened: On Tuesday, Irwin said that the removal of electric vehicle subsidies, something that Musk had previously stated he was &#8220;okay&#8221; with, could strengthen Tesla's position by forcing legacy automakers to pull back, while speaking on CNBC&#8217;s &#8220;Closing Bell Overtime.&#8221;
&#8220;Tesla's basically going to own this market for the foreseeable future,&#8221; he said. 
However, looking ahead, he noted that federal support remains key for autonomous driving technology, and political relationships could make all the difference.
See Also: <a href="https://www.benzinga.com/markets/tech/25/07/46214850/tom-lee-says-teslas-magic-isnt-about-government-subsidies-its-a-granny-shot-powered-by-elon-musk-ai-and-massive-data">Tom Lee Says Tesla&#8217;s Magic Isn&#8217;t About Government Subsidies: &#8216;It&#8217;s A Granny Shot&#8217; Powered By Elon Musk, AI And Massive Data</a>
&#8220;It doesn&#8217;t make any sense for Elon to be fighting with Donald Trump,&#8221; Irwin said. &#8220;They both have their egos. You know what? They deserve it. They&#8217;re both wildly successful men.&#8221; He further says that Musk needs to take a step back and rethink what he says. 
While Musk is described as a &#8220;purist&#8221; who wants to see ideal legislation, Irwin pointed out that Trump is a pragmatist who must navigate Congress to get laws passed. If Musk's relationship with Trump deteriorates, regulatory priorities like autonomy could be deprioritized.
Despite the policy risk, Irwin said he would consider buying Tesla shares on the dip, citing potential updates around Level 4 autonomy and the humanoid Optimus robot in the upcoming earnings call.
Why It Matters: Irwin&#8217;s comments come amid the reigniting of the feud between Musk and Trump this week. 
Musk publicly criticized Trump&#8217;s &#8220;Big, Beautiful Bill,&#8221; calling it &#8220;political suicide,&#8221; alongside &#8220;utterly insane&#8221; and&nbsp;&#8220;destructive,&#8221; citing the <a href="https://www.benzinga.com/news/25/06/46177116/elon-musk-calls-trumps-megabill-political-suicide-says-it-is-utterly-insane-and-destructive-will-des">loss of jobs</a> and the immense damage that it is set to cause for the strategic capabilities of the United States. 
Trump has since hit back, saying that Musk is one of the <a href="https://www.benzinga.com/markets/equities/25/07/46187311/trump-says-elon-musk-would-close-up-shop-and-head-back-home-to-south-africa-without-subsidies-no-more-rocket-launches-satellites-or-electric-car">biggest recipients of subsidies</a>, and without it, he &#8220;would probably have to close up shop and head back home to South Africa,&#8221; he said in a Truth Social post on Tuesday.
He further went on to state that &#8220;Electric cars are fine, but not everyone should be forced to own one,&#8221; leading to a pullback in Tesla shares on Tuesday.
Price Action: Tesla shares were down 5.34% on Tuesday, trading at $300.71, due to the feud, but they&#8217;re up 1.05% after hours. 
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="146" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/02054147/Screenshot-2025-07-02-at-3.11.33-PM-1024x146.png" alt="" class="wp-image-970045" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/02054147/Screenshot-2025-07-02-at-3.11.33-PM-1024x146.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/02054147/Screenshot-2025-07-02-at-3.11.33-PM-300x43.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/02054147/Screenshot-2025-07-02-at-3.11.33-PM-768x109.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/02054147/Screenshot-2025-07-02-at-3.11.33-PM.png 1532w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Tesla shares have a favorable price trend in the medium and long terms, but not so much in the short term. Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a> for deeper insights on the stock, its peers and competitors.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="&#039;Musk is not helping himself&#039;: Roth&#039;s Irwin on Tesla stock falling after Trump feud reignites" width="500" height="281" src="https://www.youtube.com/embed/U3xzZbg9ZgA?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>
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Read More: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/06/46186733/elon-musk-staging-a-political-comeback-tesla-ceo-sparks-america-party-buzz-as-he-slams-trumps-insane-spending-bill">Elon Musk Staging A Political Comeback? Tesla CEO Sparks &#8216;America Party&#8217; Buzz As He Slams Trump&#8217;s &#8216;Insane Spending Bill&#8217;</a></li>
</ul>
Photo courtesy: Ken Wolter / Shutterstock.com

Tech

TSLA

As Tesla Slides Below $1 Trillion, Analyst Warns Musk-Trump Rift Could Undermine Autonomy Push: 'It Doesn't Make Any Sense For Elon To Be Fighting With Donald Trump'

Alibaba Group Holding&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) cloud unit is rapidly expanding its global footprint, recently establishing its third data center in Malaysia and planning a second in the Philippines for October.
This strategic expansion aligns with CEO Eddie Wu&#8217;s declaration that globalization is a core long-term strategy for Alibaba Cloud, as shared with Bloomberg <a target="_blank" href="https://www.bloomberg.com/news/articles/2025-07-02/alibaba-expands-ai-cloud-services-in-malaysia-philippines?srnd=phx-technology&amp;sref=TBDibEcD" rel="noreferrer noopener">on</a> Wednesday.
The company is also committed to accelerating AI adoption, evidenced by its plans to launch a global competency center in Singapore. Reportedly, Alibaba Cloud&nbsp;is China&#8217;s <a target="_blank" href="https://www.benzinga.com/markets/tech/25/06/45925331/alibaba-co-founder-sees-open-source-qwen-driving-cloud-demand" rel="noreferrer noopener">largest cloud service provider</a>, with over one-third of the market.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/tech/25/06/46032308/alibaba-expands-ai-cloud-footprint-in-south-korea-with-new-data-hub-launching-in-june" rel="noreferrer noopener">Alibaba Expands AI Cloud Footprint In South Korea With New Data Hub Launching In June</a>
This initiative complements its ongoing efforts to build AI systems with human-level intellectual capabilities, a priority Wu outlined in February.
Further cementing its AI ambitions, Alibaba will open a second data center in South Korea by June 2025 and aims to extend its <a target="_blank" href="https://www.benzinga.com/markets/tech/25/06/46069690/alibaba-accelerates-global-ai-push-targets-overseas-data-centers" rel="noreferrer noopener">Qwen AI models</a> and Model Studio to international data centers by 2025.
Alibaba plans a significant expansion of its global cloud network over the next three years, targeting China, Japan, South Korea, Southeast Asia, the Middle East, Europe, and the Americas. 
This will add to its 29 existing data centers worldwide, which currently include locations in the U.S., London, Dubai, and mainland China, and builds on prior infrastructure investments in Thailand, Mexico, and South Korea.
This push for international growth is also influenced by China&#8217;s domestic antitrust crackdown and escalating geopolitical tensions with the U.S., including semiconductor embargos and <a href="https://www.benzinga.com/trading-ideas/movers/25/05/45620670/alibaba-eyes-growth-in-other-markets-as-us-ties-strained-says-chairman" target="_blank" rel="noreferrer noopener">tariffs</a>.
To fuel this growth, Alibaba has committed at least 380 billion yuan ($52 billion) to cloud computing and AI infrastructure over the next three years, and is forging key partnerships with companies like Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Siemens, and Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) for AI collaborations.
This expansion and investment come as Alibaba&#8217;s stock has surged over 34% year-to-date, indicating a return to growth driven by its cloud unit, strategic restructuring, and renewed investor confidence in the Chinese tech sector.
The emergence of <a target="_blank" href="https://www.benzinga.com/25/03/44511372/alibaba-strikes-back-new-ai-model-takes-on-deepseek-amid-1-trillion-tech-shakeup" rel="noreferrer noopener">Chinese AI startup</a> DeepSeek and its claims of affordable AI models in 2024 fueled a domestic price war, prompting Chinese Big Tech companies like Alibaba to roll out affordable AI models.
In May, Alibaba reported that its <a target="_blank" href="https://www.benzinga.com/news/earnings/25/05/45437447/alibaba-stock-slides-5-after-revenue-miss-cloud-spend-hits-free-cash-flow" rel="noreferrer noopener">fourth-quarter revenue</a> grew 7% year-over-year to $32.58 billion, which missed the analyst consensus estimate of $33.08 billion. Despite this, its Cloud Intelligence Group showed strong performance, with revenue growing 18% year-over-year to $4.15 billion.
Price Action:&nbsp;BABA shares are trading lower by&nbsp;1.75% to&nbsp;$111.97 premarket at&nbsp;last check Wednesday.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/07/46204491/microsofts-ai-and-cloud-scale-drives-market-beating-returns" target="_blank" rel="noreferrer noopener">Microsoft&#8217;s AI And Cloud Scale Drives Market-Beating Returns</a></li>
</ul>
Photo via Shutterstock

Media

BABA

MSFT

NVDA

Alibaba Cloud Opens Third Malaysia Data Center, Plans Second in Philippines

BLBX

Blackboxstocks Enters $5.8M At-The-Market Sales Agreement With Alexander Capital To Offer Common Shares Under S-3 Shelf Registration

ENSG

Ensign Group Acquires Timber Springs Facility In Idaho, Duncanville Real Estate In Texas, Expanding Portfolio To 348 Healthcare Operations Across 17 States

BYD Co. Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) has recorded a sale of over 377,628 units in June, which is the Chinese EV giant's best sales performance of 2025 so far.
What Happened: The Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rival reported an 11% YoY growth in sales during May, according to sales data released on Tuesday.
BYD sold over 206,884 EVs, which accounted for 54.8% of the sales, while 170,744 units were Plug-In Hybrid vehicles. BYD's EV sales grew 42.5%, according to the data.
Interestingly, the brand exported over 90,049 units outside of China, an almost 234% increase from June 2024, when BYD exported over 30,014 units.
Why It Matters: The data comes as BYD has been bolstering its presence both in China as well as in overseas markets. The company recently released a <a href="https://www.benzinga.com/markets/tech/25/07/46187880/tesla-rival-byd-launches-11000-long-range-trim-of-its-best-selling-seagull-ev-as-price-war-heats-up">longer-range variant</a> of its best-selling Seagull EV priced at around $11,000.
The release could help the company cement its already strong position in the Chinese domestic car market. BYD has also denied reports in the media that suggested the company was <a href="https://www.benzinga.com/markets/asia/25/06/46111314/byd-denies-production-cutbacks-amid-ev-price-war-says-output-remains-stable-report">scaling back on production</a> amid China's fiercely competitive <a href="https://www.benzinga.com/news/topics/25/06/45715047/byds-aggressive-pricing-triggers-ev-rat-race-stock-tumbles-authorities-voice-concern">EV price war</a>.
Overseas, BYD has been targeting the European market, where it released the Euro-spec version of the Seagull, called the <a href="https://www.benzinga.com/markets/25/05/45560953/byds-europe-pivot-in-full-swing-with-new-26000-affordable-ev-amid-tesla-sales-slump">Dolphin Surf EV</a>, for $26,000, as well as setting up a <a href="https://www.benzinga.com/25/04/45097773/satellite-images-put-tesla-rival-byds-hungarian-factory-capable-of-producing-200k-units-annually-in-the-spotlight">production facility in Hungary</a> capable of producing 200,000 units annually.
BYD also overtook Tesla in <a href="https://www.benzinga.com/markets/tech/25/06/45969242/elon-musk-has-a-new-problem-byd-beats-tesla-in-global-ev-sales-amid-europe-expansion">global sales</a> recently for the first time ever, according to a report released by the International Council on Clean Transportation or ICCT, citing sales data.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/07/46187171/ford-ceo-jim-farley-praises-chinese-evs-amid-affordable-ev-platform-plans-its-the-most-humbling-thing">Ford CEO Jim Farley Praises Chinese EVs Amid Affordable EV Platform Plans: &#8216;It&#8217;s The Most Humbling Thing&#8217;</a></li>
</ul>
Photo courtesy: Tada Images / Shutterstock.com

BYDDF

BYDDY

Tesla Rival BYD Reports 2025's Best-Selling Month In June Amid Exports Surge

KBR Says It Supports Axiom Mission 4 With Astronaut Training And Embedded Flight Controllers, Marking Milestone In Private Spaceflight Operations

Shares of MARA Holdings Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) are trading higher in Wednesday&#8217;s pre-market trading after the Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) miner announced an ambitious hashrate target by year-end.
What Happened: CEO Fred Thiel&nbsp;said the company wants to achieve 75 exahashes by the end&nbsp;of 2025, marking a 40% jump from 2024.
&#8220;As the largest public bitcoin miner, this goal aligns with both our rapid expansion and commitment to low-cost power with efficient capital deployment,&#8221; Thiel added.
On the downside, the firm&#8217;s total Bitcoin production in June fell 25% from <a href="https://www.benzinga.com/trading-ideas/movers/25/06/45755536/mara-holdings-shares-climb-after-company-reports-bitcoin-production-metrics">last month</a> to 713 BTC, while block production also fell 25% from May&#8217;s record-breaking figures.
The production decline was attributed to weather-related curtailment and the deployment of older machines at its Garden City facility due to storm-related damage.
Despite the dip in June&#8217;s production, Thiel expressed excitement about approaching the 50,000 Bitcoin milestone. As of this writing, MARA is the world&#8217;s second-largest corporate holder of the apex cryptocurrency, sitting on a stash of 49,940 BTC, worth $5.37 billion
Price Action:&nbsp; Shares of MARA were up 2.36% in pre-market trading after closing 0.13% higher at $15.70 during Tuesday's regular trading session, according to&nbsp;<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>. The stock has gained 9% over the last month.
MARA lagged in Momentum and Growth rankings as of this writing. To compare the top Bitcoin mining stocks across key parameters, visit <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Benzinga Edge Stock Rankings</a>. 
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="561" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/02053752/image-24.png" alt="" class="wp-image-970032" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/02053752/image-24.png 561w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/02053752/image-24-300x134.png 300w" sizes="(max-width: 561px) 100vw, 561px" /></a></figure>
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46214331/cipher-mining-stock-is-up-over-6-in-wednesdays-pre-market-whats-going-on">Cipher Mining Stock Is Up Over 6% In Wednesday&#8217;s Pre-Market: What&#8217;s Going On?</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Frame Stock Footage/Shutterstock<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" target="_blank" rel="noreferrer noopener"></a>

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

MARA

MARA Shares Inch Higher In Wednesday's Pre-Market After Bitcoin Miner Targets 40% Hashrate Growth By Year-End

Instil Bio Gets US FDA Clearance For IND Of AXN-2510, A PD-L1xVEGF Bispecific Antibody, With Phase 1 Solid Tumor Trial Set For 2025

U.S. futures rose on Wednesday after a mixed close on Tuesday. Futures of major benchmark indices were trading slightly higher.
After the Nasdaq and S&amp;P 500 scaled new highs for two days, the indices slipped on Tuesday as President Donald Trump's massive tax-and-spending One Big Beautiful Bill Act, <a href="https://www.benzinga.com/news/politics/25/07/46211326/one-big-beautiful-bill-passes-senate-with-jd-vances-tie-breaking-vote-trump-says-its-going-to-go-very-nicely-in-the-house">passed narrowly in the Senate</a>. The legislation is now set to move to the House of Representatives for potential final approval. 
The Senate passed the measure in a 51-50 vote with Vice President JD Vance breaking a tie. The vote followed an all-night debate in which Republicans grappled with the bill's price tag and its impact on the healthcare system.
The 10-year Treasury bond yielded 4.28% and the two-year bond was at 3.79%. 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 an 80.9% likelihood of the Federal Reserve keeping the current interest rates unchanged in its July meeting. 
<figure class="wp-block-table is-style-stripes"> 
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<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.10%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.08%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>0.05%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>0.52%</td>
</tr>
</tbody>
</table>
</figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, were slightly higher in premarket on Wednesday. The SPY was up 0.094% at $618.23, while the QQQ advanced 0.049% to $547.26, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Cues From Last Session:
On Tuesday, the materials, health care, and energy sectors led gains on the S&amp;P 500, while information technology and communication services bucked the trend, closing lower.
Overall, U.S. stocks settled mixed, with the Dow Jones index notably gaining during the session as the U.S. Senate approved President Donald Trump's "One Big, Beautiful Bill."
Economic data released on Tuesday showed mixed signals. The number of job openings increased by 374,000 to 7.769 million in May, indicating a stronger labor market.
The ISM manufacturing PMI also showed improvement, rising to 49 in June from 48.5 in the prior month, surpassing market estimates of 48.8.
Conversely, U.S. construction spending saw a decline, falling by 0.3% month-over-month to an annual rate of $2,138 billion in May.
In corporate news, MSC Industrial Direct Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSM#NYSE">MSM</a>) reported stronger-than-expected financial results for its fiscal third quarter of 2025.
The Dow Jones index ended 400 points or 0.91% higher at 44,494.94, whereas the S&amp;P 500 index fell 0.11% to 6,198.01. Nasdaq Composite declined 0.82% to 20,202.89, and the small-cap gauge, Russell 2000, gained 1.03% to end at 2,197.54.
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-0.82%</td>
<td>20,202.89</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.11%</td>
<td>6,198.01</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.91%</td>
<td>44,494.94</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>1.03%</td>
<td>2,197.54</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Following a volatile first half, the S&amp;P 500 appears poised for continued momentum, according to analysis from Adam Turnquist, the chief technical strategist for LPL Financial.
Historical data spanning back to 1950 suggests a strong bullish precedent for the second half of the year, particularly when the first six months delivered solid gains by the end.
The S&amp;P 500 wrapped up the first half of 2025 with a commendable 5.5% gain, shaking off a deep correction experienced in April. This performance sets the stage for what history indicates could be another period of positive returns.
&#8220;Since 1950, the S&amp;P 500 has followed up a positive first-half return with an average second-half gain of 6.1%,&#8221; Turnquist notes.
Delving deeper into scenarios akin to the current market environment, Turnquist highlights a particularly encouraging trend. &#8220;Furthermore, when first-half gains were within the range of 5–10%, the index also posted an average gain of 6.1% in the second half, with 86% of occurrences producing positive results.&#8221;
This statistical backing provides a compelling case for optimism heading into the latter half of the year.
While the historical data points to a generally positive outlook, Turnquist also tempers expectations with a pragmatic reminder.
&#8220;Despite the bullish precedent from a positive first half, bull markets are not linear, and pullbacks should be expected in the second half.&#8221;
He points out that the average maximum drawdown for the S&amp;P 500 during the second half has been -10.3% since 1950. However, even these potential dips tend to be shallower in scenarios like the present.
&#8220;Second-half drawdowns following a first half of 5–10% or higher average only 8.4%,&#8221; he concludes, suggesting that while volatility is a possibility, significant downturns may be less likely.
Meanwhile, Ryan Detrick from Carson Research highlighted a historical pattern where the S&amp;P 500, after a negative first quarter and a subsequent 10%+ gain in the second quarter, has shown an average third quarter return of 10.7% and a 19% gain for the rest of the year.
The data from 1990, 2009, and 2025 suggests a potential bullish trend for the second half of 2025, supported by Carson Investment Research analysis.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">2025 is in rare company, with stocks down in Q1, but then up 10% or more in Q2. The historically weak Q3 has never been lower (and up 10% on average) and the rest of the yr is up close to 20% on average. Yet another reason to lean bullishly in H2 &#39;25. <a href="https://t.co/kL1uHHO8rs">pic.twitter.com/kL1uHHO8rs</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1940214123335438453?ref_src=twsrc%5Etfw">July 2, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
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>June&#8217;s ADP employment data will be out by 8:15 a.m. ET.</li>
</ul>
Stocks In Focus:
<ul class="wp-block-list">
<li>UniFirst Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNF#NYSE">UNF</a>) was up 2.41% in premarket on Wednesday as analysts expect it to report quarterly earnings of $2.09 per share on revenue of $614.51 million, before the opening bell.</li>
</ul>
<ul class="wp-block-list">
<li>Franklin Covey Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FC#NYSE">FC</a>) was 2.03% higher as it is expected to report earnings after market close. Analysts expect it to report a quarterly loss of 4 cents per share on revenue of $67.49 million.</li>
</ul>
<ul class="wp-block-list">
<li>Greenbrier Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBX#NYSE">GBX</a>) jumped 13.19% after posting stronger-than-expected results for the third quarter after the closing bell on Tuesday. The company posted quarterly earnings of $1.86 per share, beating market estimates of 98 cents per share.</li>
</ul>
<ul class="wp-block-list">
<li>Constellation Brands Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STZ#NYSE">STZ</a>) slipped 1.08% after posting weaker-than-expected earnings for its first quarter and affirming its FY2026 earnings guidance. It reported quarterly earnings of $3.22 per share, which missed the analyst consensus estimate of $3.31 per share.</li>
</ul>
<ul class="wp-block-list">
<li>Zenvia Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZENV#NASDAQ">ZENV</a>) rose 4.70% ahead of its first quarter earnings expected after the closing bell.</li>
</ul>
<ul class="wp-block-list">
<li>ShoulderUp Technology Acquisition Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAIC#NASDAQ">DAIC</a>) surged 224.08% as it announced a corporate action where SUACU shareholders will receive one new share of DAIC and 0.5 shares of DAICW for each old share. This move aims to boost stock performance, liquidity, and future growth.</li>
</ul>
<ul class="wp-block-list">
<li>Gryphon Digital Mining Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRYP#NASDAQ">GRYP</a>) climbed 58.68% as it filed an amended S-4 registration with the SEC for its stock-for-stock merger with American Bitcoin Corp.</li>
</ul>
<ul class="wp-block-list">
<li>Liminatus Pharma Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LIMN#NASDAQ">LIMN</a>) gained 9.47% after the company said it regained compliance with Nasdaq&#8217;s listing requirements.</li>
</ul>
<ul class="wp-block-list">
<li>Revelation Biosciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REVB#NASDAQ">REVB</a>) dropped 14.63% as it announced the implementation of a 1-for-3 reverse split of its common stock following approval at its Special Meeting of Stockholders held on June 23, 2025.</li>
</ul>
<ul class="wp-block-list">
<li>Unity Biotechnology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UBX#NASDAQ">UBX</a>) declined 12.45% after the company disclosed that Nasdaq plans to delist its stock, citing diminished operations and failure to meet continued listing standards.</li>
</ul>
Commodities, Gold, And Global Equity Markets:
Crude oil futures were trading higher in the early New York session by 0.61% to hover around $65.85 per barrel.
Gold Spot US Dollar fell 0.11% to hover around $3,335.36 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was higher by 0.07% at the 96.8900 level.
Asian markets ended on a mixed note on Wednesday, as India's S&amp;P BSE Sensex, South Korea's Kospi, and Japan's Nikkei 225 indices fell. While Hong Kong's Hang Seng, Australia's ASX 200, and China&#8217;s CSI 300 indices rose. European markets were higher in early trade.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/07/46213361/trump-is-slamming-jerome-powell-because-he-wants-a-weaker-dollar-says-ed-yardeni-pounding-powell-po">Trump Is Slamming Jerome Powell Because He &#8216;Wants A Weaker Dollar,&#8217; Says Ed Yardeni: &#8216;Pounding Powell = Pounding The Dollar&#8217;</a></li>
</ul>
Photo courtesy: godongphoto / Shutterstock.com

Equities

DAIC

GRYP

LIMN

REVB

ZENV

US Stocks Likely To Open Higher: S&P 500 Sees 'Average Gain Of 6.1%' In 2nd Half, Expert Says

Shares of The Greenbrier Companies, Inc. (NYSE: GBX) rose sharply in today's pre-market trading after the company posted stronger-than-expected <a href="https://www.benzinga.com/quote/GBX/analyst-ratings">results for the third quarter</a>.
The company posted quarterly earnings of $1.86 per share, beating market estimates of 98 cents per share.
Greenbrier shares jumped 13.1% to $53.14 in the pre-market trading session.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul class="wp-block-list">
<li>CID HoldCo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAIC#NASDAQ">DAIC</a>) surged 215.1% to $14.53 in pre-market trading after falling 10% on Tuesday.</li>
<li>Namib Minerals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NAMM#NASDAQ">NAMM</a>) gained 151.6% to $17.31 in pre-market trading after declining 9% on Tuesday.</li>
<li>Scage Future American Depositary Shares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCAG#NASDAQ">SCAG</a>) climbed 67.8% to $6.93 in pre-market trading after dipping 54% on Tuesday.</li>
<li>Gryphon Digital Mining, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRYP#NASDAQ">GRYP</a>) rose 59.7% to $1.44 in pre-market trading following news that the company filed an amended registration statement with the Securities and Exchange Commission for its pending merger with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) mining firm American Bitcoin Corp.</li>
<li>Blue Gold Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BGL#NASDAQ">BGL</a>) gained 37.6% to $99.00 in pre-market trading after jumping 74% on Tuesday.</li>
<li>Perfect Moment Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PMNT#NASDAQ">PMNT</a>) gained 36.6% to $0.3220 in pre-market trading after dipping over 14% on Tuesday.</li>
<li>The Generation Essentials Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TGE#NASDAQ">TGE</a>) jumped 25.2% to $9.54 in pre-market trading after falling 5% on Tuesday.</li>
<li>Powell Max Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PMAX#NASDAQ">PMAX</a>) surged 20.8% to $0.5557 in pre-market trading after gaining 21% on Tuesday.</li>
<li>Verint Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRNT#NASDAQ">VRNT</a>) gained 11.7% to $20.80 in pre-market trading after falling over 5% on Tuesday.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul class="wp-block-list">
<li>BioNexus Gene Lab Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BGLC#NASDAQ">BGLC</a>) shares tumbled 38.3% to $6.87 in pre-market trading after jumping 255% on Tuesday.</li>
<li>Centene Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNC#NYSE">CNC</a>) fell 27.7% to $40.94 in pre-market trading after the health care company withdrew its guidance for 2025.</li>
<li>Mustang Bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBIO#NASDAQ">MBIO</a>) dipped 25.4% to $1.53 in pre-market trading after jumping 115% on Tuesday.</li>
<li>RedCloud Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCT#NASDAQ">RCT</a>) dipped 23.5% to $3.28 in pre-market trading after gaining 43% on Tuesday.</li>
<li>Argo Blockchain plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARBK#NASDAQ">ARBK</a>) declined 22.8% to $0.2836 in pre-market trading after gaining around 97% on Tuesday.</li>
<li>NLS Pharmaceutics AG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NLSP#NASDAQ">NLSP</a>) declined 18.2% to $2.34 in pre-market trading. NLS Pharmaceutics recently announced it completed its second and final equity financing round consisting of preferred shares and warrants worth $3 million in total.</li>
<li>DEFSEC Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DFSC#NASDAQ">DFSC</a>) fell 17% to $9.48 in pre-market trading.</li>
<li>Electra Battery Materials Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ELBM#NASDAQ">ELBM</a>) fell 15.5% to $0.9054 in pre-market trading.</li>
<li>Oscar Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OSCR#NYSE">OSCR</a>) shares fell 8.3% to $18.75 in pre-market trading after dipping 5% on Tuesday.</li>
<li>Mesoblast Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MESO#NASDAQ">MESO</a>) fell 7.4% to $11.22 in pre-market trading. Mesoblast shares gained 11% on Tuesday after the company announced it is targeting an accelerated FDA approval for its heart failure drug Revascor.</li>
</ul>
Now Read This: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/07/46192054/cramer-backs-this-mining-giant-after-1-6b-bet">Cramer Backs This Mining Giant After $1.6B Bet</a> </li>
</ul>
Photo via Shutterstock

Pre-Market Outlook

Movers

Trading Ideas

ARBK

BGLC

DEFSEC Technologies Inc. - common stock, no R/S concurrent with offering

DFSC

ELBM

MBIO

MESO

NAMM

NLSP

OSCR

PMAX

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Why Greenbrier Shares Are Trading Higher By Over 13%; Here Are 20 Stocks Moving Premarket

The Senate on Tuesday approved a <a href="https://www.benzinga.com/news/politics/25/07/46211326/one-big-beautiful-bill-passes-senate-with-jd-vances-tie-breaking-vote-trump-says-its-going-to-go-very-nicely-in-the-house">sweeping domestic policy package</a> that would slash spending on the Supplemental Nutrition Assistance Program (SNAP), marking what analysts call the deepest food-aid cut in modern history and sending the bill back to the House for final action.
<h3 class="wp-block-heading">How The &#8216;Big, Beautiful Bill&#8217; Affects SNAP</h3>
<ul class="wp-block-list">
<li>Work longer. Able-bodied adults without small children must verify 80 hours a month of work, training, or community service until age 64, up from 54 under current law. Parents escape the rule only if their youngest child is under 7, not 18.</li>
<li>Lose benefits faster. The Congressional Budget Office projects the tougher rules will drop about <a href="https://www.benzinga.com/news/health-care/25/06/45882997/trumps-big-beautiful-bill-could-strip-3-2-million-people-from-food-stamp-program-295-billion-in-spending-cuts-proposed-report">3.2 million people</a> from SNAP rolls each month once fully in force.</li>
<li>Shift costs to states. States would <a href="https://www.cbpp.org/research/food-assistance/house-reconciliation-bill-proposes-deepest-snap-cut-in-history-would-take">pay</a> 5% of benefits and 75% of administrative expenses. Those with payment-error rates above 6% could owe up to 15% of benefits.</li>
<li>Cap future increases. The bill <a href="https://www.benzinga.com/general/24/05/38623267/food-affordability-crisis-looms-as-farm-bill-debate-heats-up-millions-at-risk-of-hunger">freezes</a> the inflation formula for the Thrifty Food Plan, trimming every household's annual cost-of-living raise and erasing roughly $35 billion over 10 years.</li>
<li>Cut overall funding. Federal SNAP spending would decrease by $295 billion over a decade, the largest reduction on record.</li>
</ul>
<h3 class="wp-block-heading">How Does The Bill Affect Medicaid?</h3>
<ul class="wp-block-list">
<li>Work mandate expands. Able-bodied adults ages 19-64, including parents of children 14 and older, <a href="https://www.benzinga.com/news/25/06/45762220/medicaid-cuts-are-heroic-speaker-mike-johnson-says-4-8-million-wont-lose-healthcare-unless-they-choo">must log</a> 80 hours a month of work, study or volunteering to keep coverage.</li>
<li>More paperwork. States would verify eligibility twice a year and check income every six months, increasing the odds of procedural terminations.</li>
<li>Cost-sharing rises. Expansion enrollees could be <a href="https://www.kff.org/tracking-the-medicaid-provisions-in-the-2025-budget-bill/">charged</a> up to $35 per visit for many services.</li>
<li>Federal aid shrinks. A $1-trillion Medicaid cut over 10 years would force states to curb benefits or tighten enrollment.</li>
<li>Coverage losses mount. The CBO projects about 12 million more <a href="https://www.kff.org/quick-take/about-17-million-more-people-could-be-uninsured-due-to-the-big-beautiful-bill-and-other-policy-changes/">uninsured</a> by 2034 from the Medicaid provisions alone.</li>
</ul>
See also: <a href="https://www.benzinga.com/news/politics/25/07/46214509/america-has-no-will-to-help-its-middle-class-says-economist-richard-baldwin-so-politicians-find-a-convenient-scapegoat-globalization">America Has No Will To Help Its Middle Class, Says Economist Richard Baldwin: So Politicians &#8216;Find A Convenient Scapegoat — Globalization&#8217;</a>
<h3 class="wp-block-heading">What About Individual Tax Cuts?</h3>
<ul class="wp-block-list">
<li>2017 rates stay. The bill makes the 2017 individual rate cuts and doubled standard deduction permanent, as mentioned in a WSJ <a href="https://www.wsj.com/politics/policy/trump-tax-bill-senate-explained-8272099c">report</a>, avoiding a scheduled January lapse.</li>
<li>Household impact. Average filers would save about $2,900 in 2026, though gains vary sharply by income, the Tax Policy Center <a href="https://taxpolicycenter.org/taxvox/house-tax-cuts-would-benefit-most-tilt-highest-income-households">says</a>.</li>
<li>Few notice. Because the breaks have been in place since 2017, many taxpayers would see no change in withholdings.</li>
</ul>
<h3 class="wp-block-heading">What&#8217;s In It For Seniors?</h3>
<ul class="wp-block-list">
<li>Temporary boost. From 2025-28, Americans 65+ could <a href="https://www.journalofaccountancy.com/news/2025/jun/tax-changes-in-senate-budget-reconciliation-bill/">claim</a> an extra $6,000 standard deduction. The benefit phases out above $75,000 for singles, $150,000 for couples.</li>
<li>Social Security tax stays. The carve-out <a href="https://apnews.com/article/trump-congress-big-bill-tax-social-security-adea287e00c7c553f69f3667d3ef78cc">replaces</a> Trump's campaign pledge to end taxes on benefits.</li>
<li>Collateral hit. Low-income dual-eligibles could <a href="https://www.washingtonpost.com/health/2025/07/01/trump-big-beautiful-bill-health-care-medicaid-impacts/">lose</a> Medicaid help with Medicare premiums as states trim programs.</li>
</ul>
<h3 class="wp-block-heading">How Does The Bill Impact Student Loans?</h3>
<ul class="wp-block-list">
<li>Loan caps. Graduate borrowing would <a href="https://www.nasfaa.org/news-item/36533/Cassidy_Unveils_Senate_s_Education_Portion_of_Reconciliation">cap</a> at $20,500 a year, $100,000 lifetime. Parent PLUS loans would max at $20,000 a year, $65,000 overall.</li>
<li>Fewer options. Grad PLUS and subsidized loans disappear, leaving just a standard plan and one income-based option.</li>
<li>Harder relief. Deferments and forbearances tighten, and forgiveness periods stretch to 30 years.</li>
</ul>
<h3 class="wp-block-heading">What&#8217;s For Parents?</h3>
<ul class="wp-block-list">
<li>Credit rises. The child tax credit <a href="https://www.journalofaccountancy.com/news/2025/jun/tax-changes-in-senate-budget-reconciliation-bill/">jumps permanently</a> to $2,200 per kid, indexed to inflation.</li>
<li>Income limits. Full credit available up to $200,000 (single) / $400,000 (joint). Phases out above those thresholds. </li>
<li>Work-linked aid. Parents of teens 14+ must meet Medicaid and SNAP work rules to retain assistance.</li>
</ul>
<h3 class="wp-block-heading">What About "Trump Accounts"?</h3>
<ul class="wp-block-list">
<li>$1,000 seed. Every baby born 2025-28 receives a <a href="https://www.benzinga.com/personal-finance/management/25/06/45853025/trump-account-promises-1000-for-every-kid-but-not-everyone-thinks-its-the-smartest-idea-out-there">$1,000 government deposit</a> into a stock-index account. Parental top-ups. Parents may add up to $5,000 yearly. Withdrawals barred until age 18.</li>
<li>Pilot scope. Lawmakers dub the three-year test "Trump Accounts," echoing ideas long pushed by Sen. Cory Booker (D-NJ).</li>
</ul>
Read next: <a href="https://www.benzinga.com/government/regulations/25/05/45506863/trumps-big-beautiful-bill-advances-heres-who-wins-and-loses">Trump&#8217;s &#8216;Big Beautiful Bill&#8217; Advances: Here&#8217;s Who Wins And Loses</a>
Image Via Eric Hartline-Imagn Images

Financing

How Trump's 'Big Beautiful Bill' Impacts SNAP, Medicaid, Taxes And Student Loans

Venture capitalist Michael Moritz of Sequoia Capital revealed an extraordinary anecdote about Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) co-founder Bill Gates that perfectly captures the obsessive focus that drove one of America&#8217;s most successful tech entrepreneurs to billionaire status.
What Happened: Speaking in a 2019 Stanford Graduate School of Business interview, Moritz recounted how Gates personally drove him to the airport in the early 1980s when Microsoft was still a private company. The ride revealed Gates&#8217; extreme dedication to maximizing productivity, even during brief commutes.
&#8220;The radio was missing in the car. Big, gaping hole in the dashboard,&#8221; Moritz recalled. When he asked Gates about the missing radio, assuming theft, Gates replied he had it deliberately removed. Gates explained that his seven-minute, 32-second commute from home to office required complete mental focus on Microsoft operations.
&#8220;He said if I&#8217;ve got the radio, I&#8217;m afraid that I&#8217;ll switch it on and I won&#8217;t be thinking about Microsoft. That&#8217;s obsession,&#8221; Moritz told Stanford students.
This laser focus proved instrumental in Microsoft&#8217;s growth from a small Seattle startup to a global technology giant. Gates maintained his position as the <a href="https://www.benzinga.com/personal-finance/25/02/43562104/bill-gates-was-the-richest-man-in-the-world-for-a-record-18-years-he-says-money-brings-freedom-but-beyond-that-its-the-same-hamburger">world&#8217;s richest person for a record 18 years</a>, from 1995 to 2007, again in 2009, and from 2014 to 2017.
Moritz, whose Sequoia Capital provided early funding to tech giants including Google, LinkedIn, Kayak, and Zappos, used this example to illustrate what separates successful entrepreneurs from the rest. During his 33 years in venture capital, he emphasized that obsession with every minute detail often determines startup success.
See Also: <a href="https://www.benzinga.com/markets/tech/25/07/46214467/elon-musk-will-oversee-tesla-sales-in-the-us-europe-after-omead-afshars-exit-report">Elon Musk Will Oversee Tesla Sales In The US, Europe After Omead Afshar&#8217;s Exit: Report</a>
Why It Matters: Gates&#8217; commitment to eliminating distractions extended beyond personal habits. He credited his &#8220;insatiable, fervent sense of curiosity&#8221; as crucial to his achievements, spending countless hours studying computer science, history, and climate change. This broad knowledge base later informed <a href="https://www.benzinga.com/tech/25/02/43581817/bill-gates-says-this-simple-trait-is-the-secret-to-his-success">both his business strategy and philanthropic initiatives.</a>
The Microsoft co-founder&#8217;s wealth trajectory demonstrates the power of focused execution. Forbes calculations suggest Gates could have achieved $1.2 trillion in net worth <a href="https://www.benzinga.com/personal-finance/entrepreneurship/25/06/46158018/bill-gates-couldve-been-the-worlds-first-trillionaire-and-richer-than-elon-musk-if-hed-kept-his-microsoft-stock">if he retained his original Microsoft shares</a>, potentially making him the world&#8217;s first trillionaire. Instead, he systematically donated and diversified his holdings, currently maintaining just 0.9% Microsoft ownership valued at $28 billion.
Gates and ex-wife Melinda have donated $60.2 billion to their foundation since 2000, making them America&#8217;s second-largest philanthropists. Gates announced plans to give away &#8220;virtually all&#8221; <a href="https://www.benzinga.com/personal-finance/entrepreneurship/25/06/46158018/bill-gates-couldve-been-the-worlds-first-trillionaire-and-richer-than-elon-musk-if-hed-kept-his-microsoft-stock">remaining wealth by 2045</a>, following his Giving Pledge commitment alongside Warren Buffett.
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<iframe loading="lazy" title="Michael Moritz, Partner, Sequoia Capital" width="500" height="281" src="https://www.youtube.com/embed/ZTNFQeYEdvc?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>
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</figure>
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<li><a href="https://www.benzinga.com/markets/tech/25/07/46190070/softbanks-masayoshi-son-lived-life-like-benjamin-button-nikesh-arora-says-he-took-every-risk-his-mother-warned-him-about-and-struck-gold-with-alibaba-arm">SoftBank&#8217;s Masayoshi Son Lived Life Like &#8216;Benjamin Button&#8217; — Nikesh Arora Says He Took Every Risk His Mother Warned Him About And Struck Gold With Alibaba, ARM</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Alexandros Michailidis / Shutterstock.com

Success Stories

Bill Gates Once Had A 'Gaping Hole' In His Dashboard: Sequoia's Michael Moritz Recalls Being Chauffeured By A Future Billionaire Obsessed With A 7-Minute Commute While Building Microsoft

The 14th Dalai Lama has confirmed he will reincarnate, asserting that his non-profit organization will have the exclusive authority to identify his successor. This declaration counters China&#8216;s insistence that it will have the final say in choosing the next Buddhist leader.
What Happened: According to a Reuters report, the Dalai Lama, who is set to turn 90 on Sunday, announced during a week of celebrations to mark his birthday.
Beijing has reiterated its stance that it must approve the Dalai Lama&#8217;s successor, and that the selection must take place in China through a traditional ritual. The Chinese government considers the Dalai Lama a separatist, a view that the spiritual leader has consistently rejected.
The Dalai Lama, who fled to India from Tibet in 1959 after an unsuccessful uprising against Chinese rule, has previously suggested that there might not be a successor at all. However, he has now confirmed that the institution of the Dalai Lama will continue.
See Also: <a href="https://benzinga.com/crypto/cryptocurrency/25/07/46214331/cipher-mining-stock-is-up-over-6-in-wednesdays-pre-market-whats-going-on">Cipher Mining Stock Is Up Over 6% In Wednesday&#8217;s Pre-Market: What&#8217;s Going On? &#8211; Benzinga</a>
He stated that the Gaden Phodrang Trust, the non-profit organization he established to preserve and support the tradition and institution of the Dalai Lama, has the sole authority to recognize his reincarnation, in consultation with the heads of Tibetan Buddhist traditions.
Why It Matters: The Dalai Lama&#8217;s announcement comes amidst growing global interest in the<a href="https://www.benzinga.com/news/politics/25/06/46163696/dalai-lama-to-deliver-major-address-on-90th-birthday-as-china-tracks-succession-moves"> succession of the spiritual leader</a>. China&#8217;s claim to have the final say in this matter has been a point of contention, with the U.S. and India closely monitoring the situation.
According to the report, earlier, the Dalai Lama&#8217;s succession was a topic of discussion during a major three-day gathering of Buddhist religious figures, where he delivered a video message.
The event was attended by more than 100 Tibetan Buddhist leaders and was seen as a potential escalation point in U.S.-China tensions, as the Dalai Lama had urged his followers to reject anyone chosen by Beijing.
China&#8217;s stance on the Dalai Lama&#8217;s successor has been a long-standing issue, with the country even warning against a visit by a group of<a href="https://www.benzinga.com/news/24/06/39393913/nancy-pelosis-visit-to-dalai-lama-tibetan-parliament-in-exile-angers-china-ahead-of-biden-signing-ke"> U.S. lawmakers</a> to meet with the spiritual leader. The lawmakers intended to discuss a bill aimed at pressuring China to address the Tibet dispute.
Read Next:
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<li><a href="https://benzinga.com/markets/equities/25/07/46187311/trump-says-elon-musk-would-close-up-shop-and-head-back-home-to-south-africa-without-subsidies-no">Trump Says Elon Musk Would &#8216;Close Up Shop And Head Back Home To South Africa&#8217; Without Subsidies: &#8216;No More Rocket Launches, Satellites, Or Electric Car&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: 360b / Shutterstock.com

Politics

Dalai Lama Confirms He Will Reincarnate: China Claims Approval Rights Over Future Spiritual Leader

Fundstrat&#8216;s Tom Lee stated that Tesla Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) success is not due to <a href="https://www.benzinga.com/markets/equities/25/07/46187311/trump-says-elon-musk-would-close-up-shop-and-head-back-home-to-south-africa-without-subsidies-no-more-rocket-launches-satellites-or-electric-car">government subsidies,</a> but rather a combination of factors including engineering talent, manufacturing expertise and leadership.
What Happened:&nbsp;On Tuesday, Lee took to X to express his views on Tesla&#8217;s success. He stated, &#8220;Magical alchemy of $TSLA not&nbsp;‘govt subsidies' &#8211; engineering talent&nbsp;&#8211; manufacturing expertise &#8211; leading&nbsp;AI and software &#8211; leadership&nbsp;&#8211; massive dataset &#8211; future&nbsp;products. 
&#8220;Government not on list&nbsp;$TSLA is a granny shot,&#8221; stated Lee.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Magical alchemy of <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> not ‘govt subisides' &#8211; engineering talent &#8211; manufacturing expertise &#8211; leading AI and software &#8211; leadership <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a> &#8211; massive dataset &#8211; future products Government not on list<a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> is a granny shot &#x1f475;&#x1f3c0; <a href="https://t.co/c2Hl6WXjNb">https://t.co/c2Hl6WXjNb</a>
&mdash; Thomas (Tom) Lee (not drummer) FSInsight.com (@fundstrat) <a href="https://twitter.com/fundstrat/status/1940033289764356294?ref_src=twsrc%5Etfw">July 1, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">This post comes in the wake of a series of discussions and debates about the role of government subsidies in Tesla&#8217;s success, particularly after President Donald Trump stated so in his Truth Social Post. "Elon may get more subsidy than any human being in history, by far, and without subsidies, Elon would probably have to close up shop and head back home to South Africa," posted Trump. Lee&#8217;s post suggests that he believes Tesla&#8217;s success is primarily due to its internal strengths and not external support.</figcaption></figure>
SEE ALSO:&nbsp;<a href="https://benzinga.com/news/politics/25/07/46212291/lisa-murkowski-defends-alaska-carveouts-as-elizabeth-warren-bernie-sanders-and-rand-paul-condemn-tr" target="_blank" rel="noreferrer noopener">Lisa Murkowski Defends Alaska Carveouts As Elizabeth Warren, Bernie Sanders And Rand Paul Condemn Trump&#8217;s &#8216;Big Beautiful&#8217; Bill: &#8216;Not Good Enough For The Rest Of Our Nation&#8217;</a>
Why It Matters:&nbsp;Lee&#8217;s post comes at a time when Tesla&#8217;s future is a topic of intense speculation. His comments echo those of other industry experts, who have also highlighted the company&#8217;s unique position in the market.
Wedbush analyst&nbsp;Dan Ives&nbsp;recently&nbsp;<a href="https://www.benzinga.com/markets/equities/25/07/46192638/tesla-is-one-of-the-two-best-physical-ai-plays-says-dan-ives-as-he-expects-2-trillion-in-valuation-were-not-even-factoring-optimus">reiterated his bullish stance</a>&nbsp;on Tesla, positioning it as one of the premier investments in the field of physical AI. Ives forecasts a staggering $2 trillion valuation for Tesla, without factoring in the future earnings from its humanoid robot, Optimus. Ives&nbsp;explained Tuesday&#8217;s weak performance for Tesla amid a fallout between CEO&nbsp;Elon Musk&nbsp;and Trump. Ives&nbsp;<a href="https://www.benzinga.com/markets/tech/25/07/46193084/tesla-stock-slump-tied-to-trump-musk-junior-high-school-friendship-gone-sour-says-dan-ives-but-predicts-it-will-settle-down">described the situation</a>&nbsp;as a &#8220;junior high school friendship gone bad.&#8221; However, he added that it would eventually stabilize.
On the other hand, investment advisor&nbsp;Ross Gerber&nbsp;criticized Tesla board members for remaining silent amid the escalating Trump-Musk Feud. 
Benzinga's Edge Rankings place Tesla in the 66th percentile for quality and the 91st percentile for growth, reflecting its strong performance in both areas. Check the detailed report <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a>.&nbsp;
On Tuesday, Tesla stock closed 5.34% lower at $300.71.
<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="780" height="123" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/02050025/image-23.png" alt="" class="wp-image-969981" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/02050025/image-23.png 780w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/02050025/image-23-300x47.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/02050025/image-23-768x121.png 768w" sizes="(max-width: 780px) 100vw, 780px" /></a></figure>
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Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Tom Lee Says Tesla's Magic Isn't About Government Subsidies: 'It's A Granny Shot' Powered By Elon Musk, AI And Massive Data

SHEN

Shenandoah Telecommunications Unit Glo Fiber Launches 100% Fiber Broadband In Hillsboro, Ohio, Offering Up To 5 Gbps Speeds To Over 3,000 Homes And Businesses

Macro Economic Events

Econ #s

Economics

Eurozone Unemployment Rate For May 6.3% Vs. 6.2% Est.; 6.2% Prior

Editor&#8217;s Note: A previous headline mistakenly stated that the Qatari luxury jet is worth $400 billion due to a typographical error.
The U.S. Air Force has reportedly decided to repurpose funds from&nbsp;its Sentinel intercontinental ballistic missile&nbsp;program to retrofit&nbsp;a Qatari luxury jet into&nbsp;an Air Force One.
What Happened: During&nbsp;a Senate appropriations defense subcommittee&nbsp;hearing, Air Force Secretary&nbsp;Troy Meink&nbsp;confirmed the financial shift. He reassured lawmakers that the Sentinel program, which has already been restructured due to major delays and unexpected costs, would not be further delayed due to this reallocation. The program&#8217;s estimated cost has soared to nearly $141 billion, 81% above initial projections, <a href="https://www.defenseone.com/defense-systems/2025/06/air-force-using-sentinel-money-retrofit-qatar-jet/406384/">reported </a>Defense One on Friday. 
Meink explained that the restructuring left some funds &#8220;early to need,&#8221; which are now being used for the jet conversion. The exact cost of making&nbsp;the Qatari jet fit for&nbsp;presidential use remains undisclosed, but Meink previously estimated it would be around $400 million, significantly&nbsp;lower than the $1 billion&nbsp;figure suggested by other officials.
The retrofit is expected to take &#8220;just short of a year&#8221; once the Air Force takes possession of the jet. Meink did not comment on plans to hand over the jet to President Trump post-presidency, but emphasized the need for the modification due to the current VC-25&#8217;s readiness challenges.
The Trump administration has reportedly selected L3Harris (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LHX#NYSE">LHX</a>) to modify the Qatari jet. While Meink did not confirm whether a formal contract has been signed, he noted that they have "discussed it" with the contractor.
The White House and the US Air Force did not immediately respond to <a href="http://pro.benzinga.com">Benzinga&#8217;s</a> request for comment. 
SEE ALSO:&nbsp;<a href="https://benzinga.com/markets/macro-economic-events/25/07/46213919/elon-musk-is-100-correct-says-balaji-srinivasan-america-is-broke-and-there-is-no-fix-but-is-it-a-win-win-for-bitcoin" target="_blank" rel="noreferrer noopener">Elon Musk Is 100% Correct, Says Balaji Srinivasan: America Is &#8216;Broke&#8217; And There Is &#8216;No Fix&#8217; But Is It A Win-Win For Bitcoin? &#8211; Benzinga</a>
Why It Matters: &nbsp;The conversion of a Qatari 747 jet into the new Air Force One for President Donald Trump could cost over $1 billion and take several years, according to <a href="https://www.benzinga.com/25/05/45404708/trumps-boeing-jet-gift-from-qatar-could-cost-taxpayers-1-billion-and-he-still-may-not-be-able-to-use-it-this-term-say-experts">aviation experts</a> in May. The refurbishment of the commercial plane, currently valued at $400 million, would exceed its present worth.
Former Vice President Mike Pence has urged Trump to reject the <a href="https://www.benzinga.com/news/25/05/45532093/trumps-former-vp-mike-pence-calls-qatari-royal-familys-boeing-jet-gift-a-bad-idea-urges-president-to">controversial $400 million</a> Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) 747-8 jumbo jet gift from Qatar's royal family, citing national security risks and ethical concerns over what would be the largest foreign gift ever received by the U.S. government.
At the same time, economist Peter Schiff has warned that Qatar's massive <a href="https://www.benzinga.com/news/25/05/45481119/peter-schiff-warns-qatars-200-billion-boeing-deal-could-spike-us-inflation-interest-rates-says-treas">$200 billion</a> jet deal with Boeing Co. could spike U.S. inflation and interest rates.
On a year-to-date basis, Boeing stock surged 22.06%, while L3 Harris climbed 21.16%, as per <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>. 
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</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.

US Air Force To Tap Sentinel Nuclear Missile Program Funds To Retrofit Trump's $400 Million Qatari Jet: Report (CORRECTED)

Defense tech billionaire Palmer Luckey is spearheading the launch of Erebor, a digital-only bank targeting startups, cryptocurrency businesses, and defense contractors left underserved after Silicon Valley Bank&#8216;s collapse in March 2023.
What Happened: The venture brings together a powerhouse of tech investors. Joe Lonsdale, founder of venture capital firm 8VC and co-founder of Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>), confirmed his financial backing to the project. Peter Thiel&#8216;s Founders Fund will also invest, The Financial Times <a href="https://www.ft.com/content/8c903f2e-42a6-496b-b098-ca733f340ffc">reported</a>, citing sources.
Erebor has filed for a national bank charter with U.S. regulators, seeking to fill the financing gap left when SVB failed. The application, made public this week, states the bank will provide &#8220;traditional banking products, as well as virtual currency-related products and services, for businesses and individuals.&#8221;
The bank&#8217;s target market spans companies in the &#8220;innovation economy,&#8221; particularly those focused on virtual currencies, artificial intelligence, defense, and manufacturing. It will also serve individuals working for or investing in these sectors, plus non-U.S. companies seeking U.S. banking access.
Stablecoins represent a key strategic focus. These <a href="https://www.benzinga.com/markets/25/06/45964024/anduril-founder-palmer-luckey-palantir-co-founder-joe-lonsdale-to-invest-in-crypto-friendly-startup">digital currencies pegged to real-world assets</a> like the U.S. dollar will form a significant part of operations. Erebor aims to become &#8220;the most regulated entity conducting and facilitating stablecoin transactions,&#8221; according to the filing.
Founders Fund did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
See Also: <a href="https://www.benzinga.com/news/financing/25/07/46213890/wall-streets-100-billion-payout-parade-jpmorgan-morgan-stanley-goldman-lead-capital-return-wave-after-acing-feds-2025-stress-test">Wall Street&#8217;s $100 Billion Payout Parade: JPMorgan, Morgan Stanley, Goldman Lead Capital Return Wave After Acing Fed&#8217;s 2025 Stress Test</a>
Why It Matters: The timing reflects broader market conditions. SVB&#8217;s assets were sold to First Citizens, which relaunched the brand, while many SVB bankers moved to HSBC&#8217;s U.S. operations. Yet investors and executives report persistent gaps in banking services for emerging tech companies, with many startups struggling to access capital, according to the report.
Co-CEOs Jacob Hirshman, former Circle adviser, and Owen Rapaport, co-founder of digital assets firm Aer Compliance, will lead daily operations. Mike Hagedorn, former senior executive vice-president at Valley National Bank, serves as president.
Erebor will operate from Columbus, Ohio, with a New York office, offering purely digital customer service through smartphone apps and websites. 
The venture continues a pattern among the founders. Like Anduril and Palantir, Erebor references J.R.R. Tolkien&#8217;s works, specifically the &#8220;lonely mountain&#8221; whose treasures are reclaimed from the dragon Smaug.
Read Next: 
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</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: Mark Reinstein On Shutterstock.com

Startups

PLTR

Palmer Luckey, Peter Thiel, Joe Lonsdale Launch Erebor Bank For Startups, Crypto And Defense — A Digital-Only Bet On The Post-SVB Era: Report

The United States&#8217; growing turn toward protectionism isn't just about trade deficits or manufacturing jobs &#8211; instead, it's about political avoidance, says economist Richard Baldwin.
What Happened: On Tuesday, while speaking on The Big View podcast by Reuters, Baldwin argued that America's middle-class struggles have less to do with globalization and more to do with a chronic failure to provide adequate social policy.
&#8220;The American middle class really is suffering and has for decades,&#8221; Baldwin said. But unlike other advanced economies with universal healthcare, old-age pensions, or student debt relief, the U.S. hasn't implemented the policies needed to cushion economic shocks. 
&#8220;To fix that, you need a social policy. And to do that, you'd have to raise taxes and have a bigger government,&#8221; he said.
See Also: <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46190450/tariffs-propel-us-customs-revenue-to-a-record-106-billion-since-trumps-inauguration">Tariffs Propel US Customs Revenue To A Record $106 Billion Since Trump&#8217;s Inauguration</a>
Baldwin, a professor at IMD Business School, however, believes that this path is now politically off-limits, thus making trade a convenient punching bag. 
&#8220;They find a convenient scapegoat, which is globalization,&#8221; Baldwin said, pointing to both parties. &#8220;Some people blame trade, some people blame immigration, some people blame foreign capital, but it's the foreigners' problem.&#8221;
In his view, America's anti-trade stance isn't going away. &#8220;I think what we have now is a bipartisan consensus that globalization in general is something that's convenient to blame for all the problems of the American middle class. And that's locked in,&#8221; he says.
With no political appetite for structural reform, Baldwin warns, &#8220;Anti-trade or trade hesitancy at the very least is a placebo instead of real medicine.&#8221;
Why It Matters: Hesitancy towards trade is a recent phenomenon in American politics, with Republican Presidents such as Ronald Reagan having made a passionate <a href="https://www.benzinga.com/markets/25/03/44269552/ronald-reagan-warned-that-tariffs-destroy-prosperity-trump-is-doubling-them-anyway-and-now-us-tech-giants-like-apple-and-nvidia-are-bracing-for-impact">case against protectionism</a> in the 1980s, warning that tariffs would &#8220;hurt every American worker and consumer.&#8221;
Former Treasury Secretary Lawrence Summers has made similar claims recently, <a href="https://www.benzinga.com/news/25/04/44776458/obama-era-treasury-secretary-larry-summers-rejects-china-cheating-at-trade-narrative-we-get-ev-batte">rejecting the narrative</a> that China was cheating in trade. 
Summers said, &#8220;if China wants to sell us things at really low prices and the transaction is we get solar collectors that help make there be less global climate change or we get batteries that we can put in electric cars and we send them pieces of paper that we print. Think that&#8217;s a good deal for us or a bad deal for us? Kind of think it&#8217;s a good deal for us.&#8221;
Read More: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/07/46213186/trump-threatens-35-tariffs-on-japan-as-trade-deadline-looms-not-sure-were-going-to-make-a-deal">Trump Threatens 35% Tariffs On Japan As Trade Deadline Looms: &#8216;Not Sure We&#8217;re Going To Make A Deal&#8217;</a></li>
</ul>
<iframe frameBorder="0" height="482" scrolling="no" src="https://playlist.megaphone.fm/?e=THRH3204548526" 
width="100%"></iframe>
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America Has No Will To Help Its Middle Class, Says Economist Richard Baldwin: So Politicians 'Find A Convenient Scapegoat — Globalization'

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