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First Trust DJ Internet Index Fund (ARCA:FDN), Rapport sur les intérêts à découvert

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The Fund will normally invest at least 90 percent of its net assets including investment borrowings in the securities that comprise the Index. The Fund, using an indexing investment approach, attempts to replicate, before fees and expenses, the performance of the Index. The Index is developed, maintained and sponsored by S&P Dow Jones Indices LLC. The Index Provider reserves the right to make exceptions when applying the methodology if the need arises. In addition, the Index Provider may revise Index policy covering rules for selecting companies, treatment of dividends, share counts or other matters.

Amazon.Com Inc

Meta Platforms Inc

Alphabet Inc. Class A Common Stock

Alphabet Inc.

Netflix

Cisco Systems Inc

Salesforce Inc

Arista Networks Inc.

Paypal Hldgs

Airbnb Inc

Booking Holdings Inc

Doordash Inc

First Trust DJ Internet Index Fund

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First Trust Dow Jones International Internet ETF

Chamath Palihapitiya has weighed in on the implications of Swedish buy now, pay later firm Klarna significantly scaling back its reliance on artificial intelligence for customer service, suggesting it could signal a broader challenge for AI-first startups.
What Happened: Palihapitiya took to social media to express his concerns, stating that the difficulties Klarna is reportedly facing in fully replacing human agents with AI could force many startups to &#8220;pivot to simply use AI for narrow use cases.&#8221;
His comments come as Klarna, a year after boldly claiming its AI chatbot could handle the workload of 700 representatives, announced a strategic shift to ensure customers always have the option to speak with a human agent.
This marks a notable departure from the company&#8217;s previous &#8220;all in&#8221; approach to AI in customer service, which included layoffs and a hiring freeze.
Klarna spokesperson Clare Nordstrom <a href="https://www.customerexperiencedive.com/news/klarna-reinvests-human-talent-customer-service-AI-chatbot/747586/">told</a> CX Dive that the company&#8217;s AI strategy is evolving. &#8220;AI gives us speed. Talent gives us empathy. Together, we can deliver service that's fast when it should be, and empathetic and personal when it needs to be,&#8221; she explained, highlighting a move towards augmenting human agents rather than fully replacing them. &#8211;
Palihapitiya echoed this sentiment in his online post, suggesting that &#8220;replacing determinism or humans with probabilistic code is fraught with edge cases and require new ways of software development and process engineering that aren&#8217;t well solved yet.&#8221;
He further warned that the difficulties in achieving reliable AI-driven products in real-world applications could have &#8220;severe&#8221; implications for a generation of AI-centric &#8220;apps.&#8221; Customer service, he speculated, might be the first area to show these limitations.
Instead of being &#8220;AI companies,&#8221; they might be forced to adopt AI for specific, limited functions while relying on more deterministic approaches for core operations, he highlighted.
This raises questions, according to Palihapitiya, about the fundamental value proposition of companies that have secured funding at high &#8220;AI valuations&#8221; but may ultimately resemble &#8220;really overpriced SaaS companies.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Not nearly enough people are talking about the implications of Klarna rolling back some of their AI bets. Not knowing any of the details, I can guess why: Replacing determinism or humans with probabilistic code is fraught with edge cases and require new ways of software…
&mdash; Chamath Palihapitiya (@chamath) <a href="https://twitter.com/chamath/status/1922096736308490416?ref_src=twsrc%5Etfw">May 13, 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/government/regulations/25/05/45367206/sp-500-rallies-over-3-on-us-china-90-day-tariff-truce-but-experts-warn-it-doesnt-guarantee-a-complete-resolution-of-the-trade-war">S&amp;P 500 Rallies Over 3% On US-China 90-Day Tariff Truce, But Experts Warn It &#8216;Doesn&#8217;t Guarantee A Complete Resolution Of The Trade War&#8217;</a>
Why It Matters: Klarna CEO Sebastian Siemiatkowski emphasized the importance of human interaction from a brand and customer perspective in a recent interview <a href="https://www.bloomberg.com/news/articles/2025-05-08/klarna-turns-from-ai-to-real-person-customer-service">with</a> Bloomberg. &#8220;I just think it's so critical that you are clear to your customer that there will be always a human if you want,&#8221; he stated.
The company is now actively recruiting for a new &#8220;Uber-type&#8221; customer service model, offering flexible, remote work with competitive pay to attract skilled individuals.
Price Action: Here&#8217;s how some AI-linked exchange-traded funds have performed.
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>ETF Name</td>
<td>YTD Performance</td>
<td>One Year Performance</td>
</tr>
<tr>
<td>iShares US Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYW#NYSE">IYW</a>)</td>
<td>-2.69%</td>
<td>15.47%</td>
</tr>
<tr>
<td>Fidelity MSCI Information Technology Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FTEC#NYSE">FTEC</a>)</td>
<td>-3.74%</td>
<td>15.41%</td>
</tr>
<tr>
<td>First Trust Dow Jones Internet Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDN#NYSE">FDN</a>)</td>
<td>1.23%</td>
<td>21.80%</td>
</tr>
<tr>
<td>iShares Expanded Tech Sector ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGM#NYSE">IGM</a>)</td>
<td>-1.77%</td>
<td>17.46%</td>
</tr>
<tr>
<td>iShares Global Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IXN#NYSE">IXN</a>)</td>
<td>-1.40%</td>
<td>12.40%</td>
</tr>
<tr>
<td>Defiance Quantum ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QTUM#NASDAQ">QTUM</a>)</td>
<td>0.74%</td>
<td>38.88%</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 lower in premarket on Tuesday. The SPY was down 0.28% to $581.37, while the QQQ declined 0.36% to $506.00, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Read Next:
<a href="https://www.benzinga.com/25/05/45368511/china-to-us-goods-shipment-jump-after-90-day-tariff-postponement-a-big-backlog-is-looming">China To US Goods Shipment Jump After 90-Day Tariff Postponement: &#8216;A Big Backlog Is Looming&#8217;</a>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Broad U.S. Equity ETFs

Futures

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Tech

ETFs

General

First Trust Dow Jones Internet Index Fund

FTEC

iShares Trust S&P Global Information Technology Sector Index Fund

iShares Dow Jones US Technology Sector Index Fund

QTUM

Chamath Palihapitiya Says Swedish Fintech Company Klarna Scaling Back AI Support Is A Red Flag For Industry: Startups Could 'Pivot To Simply Use AI For Narrow Use Cases'

J.P. Morgan analyst Doug Anmuth reiterated an Overweight rating on Netflix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) <a target="_blank" href="https://www.benzinga.com/quote/NFLX/analyst-ratings" rel="noreferrer noopener">with a price forecast of $1,150.</a>
The analyst writes that the company&#8217;s shares are outperforming the SPX, thanks to 2025 revenue growth outlook of 12% to 14% (reported) and 14% to 17% (FX-neutral), strong content slate, and <a target="_blank" href="https://www.benzinga.com//node/43114866" rel="noreferrer noopener">leadership position in the streaming platform</a>.
Read: <a target="_blank" href="https://www.benzinga.com/general/entertainment/25/03/44428025/netflix-to-launch-first-mmo-video-game-is-it-the-streaming-companys-biggest-gaming-bet-yet" rel="noreferrer noopener">Netflix To Launch First MMO Video Game: Is It The Streaming Company&#8217;s Biggest Gaming Bet Yet?</a>
Anmuth previously noted that Netflix is well-positioned to withstand macroeconomic challenges on strong user engagement (around two hours per household per day) along with its affordability and high entertainment value.
He also emphasized that the low-cost ad-supported tier ($7.99/month in the U.S.) enhances accessibility, making the service appealing to a broad audience.
The analyst says that with Netflix no longer reporting subscriber figures, market attention is expected to shift toward revenue growth, with projections appearing reasonable ahead of first-quarter earnings in April.
Anmuth projects revenue expansion in 2025 on high engagement, organic subscriber gains, and ARM lift following recent price adjustments in the U.S. and U.K., which could generate over $2 billion in additional annual revenue.
Furthermore, the weaker U.S. dollar since fourth-quarter earnings may contribute around ~140bps to revenue, with ~75%-80% expected to benefit operating income, adds the analyst.
Also, the analyst expects the street to focus on Netflix's advertising sector, as Netflix Ads Suite is set to launch in the U.S. in April.
Additionally, the analyst anticipates an updated disclosure on ad-tier monthly active users (MAUs), likely exceeding 100 million, along with the expansion of first-party ad technology into international markets and confirmation of a second NFL Christmas Day game this year.
Going forward, Anmuth estimates Ad Tier subs to be 60 million+ by the end of 2025 and Advertising revenue (ex-subscription) to be $3.2 billion in 2025 (vs. $1.4 billion in 2024).
Also, the analyst remains optimistic about Netflix's 2025 content lineup, highlighting key releases such as The Residence, Harlan Coben's Caught, Devil May Cry, The Clubhouse: A Year with the Red Sox, Black Mirror Season 7, and You Season 5.
Investors can gain exposure to the stock via&nbsp;T-Rex 2X Long NFLX Daily Target ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/NFLU#BATS">NFLU</a>) and First Trust DJ Internet Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDN#NYSE">FDN</a>).
Price Action: NFLX shares are up 0.83% at $968.28 at the last check Monday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/entertainment/25/03/44440954/netflix-announces-willy-wonka-inspired-reality-competition-with-a-golden-ticket-twist" target="_blank" rel="noreferrer noopener">Netflix Announces Willy Wonka-Inspired Reality Competition With A &#8216;Golden Ticket&#8217; Twist</a></li>
</ul>
Image via Shutterstock.

Analyst Color

Large Cap

Price Target

Reiteration

Analyst Ratings

Trading Ideas

ETF Opportunities Trust T-Rex 2X Long NFLX Daily Target ETF

NFLU

NFLX

Netflix's Content Performing Well Worldwide, Analyst Remains Bullish On 2025 Content & Key Releases

Billionaire investor Mark Cuban has urged GenZ youth to upscale themselves by learning more about artificial intelligence. As growing AI applications have been disrupting business, here is a list of AI-linked investment opportunities that investors could consider to increase their exposure.
What Happened: During an <a href="https://www.youtube.com/watch?v=vkJfCMycJRk">interaction</a> at South by Southwest or SXSW festival in Austin, Texas, Cuban said that it was pivotal to learn about AI to integrate it into business.
Addressing the entrepreneurship-oriented youth, Cuban said, &#8220;I would spend every waking minute learning about AI,&#8221; when asked about advice for the next generation of business leaders.
He also used his own Instagram and TikTok feed as an example, stating that it consisted of AI hacks because of the rapid technological changes and AI adoption.
Don&#8217;t Miss:
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<li>This Startup Is On The Brink Of A Huge Disruption To The $654 Billion Industry — <a href="https://www.benzinga.com/money/venhub-adv">Invest In It Before It Fulfills 800 Pre-Orders</a></li>
<li>Maker of the $60,000 Foldable Home Has 3 Factory Buildings, 600+ Houses Built, and Big Plans To Solve Housing — <a href="https://www.benzinga.com/money/boxabl">Become an Investor for $0.80 per Share</a>.</li>
</ul>
&#8220;It&#8217;s one thing to have a business and how you integrate AI. But if you&#8217;re just getting started, as you learn these things, it&#8217;s so much easier to start,&#8221; he said.
&#8220;Whether you use Perplexity, Anthropic Claude, ChatGPT, Gemini. It doesn&#8217;t matter, right?&#8221; he said rhetorically stating that AI tools can &#8220;spider everything&#8221; from writing emails to doing sales calls.
However he added that most people won&#8217;t leverage the capabilities of AI, &#8220;But those people who put in the time are going to crush it,&#8221; he said.
Why It Matters: The AI race has been intensifying worldwide. The popularity of Chinese AI startup DeepSeek triggered a selloff in AI-linked stocks and major AI chipmaker Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) in mid-January.
While companies worldwide are finding a way for AI training and inferencing without using Nvidia&#8217;s advanced chips, the South China Morning Post <a href="https://www.scmp.com/tech/tech-war/article/3302516/chip-war-chinese-start-aims-break-nvidias-grip-ai-new-model-framework">reported</a> on Sunday that a Tsinghua University-linked team introduced an AI framework that can work on Chinese-made chips. 
Qingcheng.AI and Tsinghua University unveiled Chitu, an LLM inference framework for Chinese chips, challenging Nvidia&#8217;s GPUs by supporting models like DeepSeek-R1.
Thus, as AI gains more prominence and global firms strive to improve efficiency, here is a list of AI-exposed exchange-traded funds listed in the U.S. that investors could consider in the long term.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>ETF Name</td>
<td>YTD Performance</td>
<td>One Year Performance</td>
</tr>
<tr>
<td>iShares US Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYW#NYSE">IYW</a>)</td>
<td>-8.74%</td>
<td>9.36%</td>
</tr>
<tr>
<td>Fidelity MSCI Information Technology Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FTEC#NYSE">FTEC</a>)</td>
<td>-9.41%</td>
<td>9.04%</td>
</tr>
<tr>
<td>First Trust Dow Jones Internet Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDN#NYSE">FDN</a>)</td>
<td>4.21%</td>
<td>13.93%</td>
</tr>
<tr>
<td>iShares Expanded Tech Sector ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGM#NYSE">IGM</a>)</td>
<td>-7.70%</td>
<td>10.80%</td>
</tr>
<tr>
<td>iShares Global Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IXN#NYSE">IXN</a>)</td>
<td>-7.21%</td>
<td>6.19%</td>
</tr>
</tbody>
</table>
</figure>
Price Action: 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, dropped in premarket on Monday. The SPY was down 0.30% to $561.12, and the QQQ also declined 0.17% to $478.85, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
SPY closed 2.07% higher at $562.81 and QQQ rose 2.42% to $479.66 on Friday.
Read Next:
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<li><a href="https://www.benzinga.com/money/gbr-savings-by-age">If You're Age 35, 50, or 60: Here&#8217;s How Much You Should Have Saved Vs. Invested By Now</a></li>
<li><a href="https://www.benzinga.com/25/03/44353578/safe-haven-amidst-volatility-gold-tops-3000-as-market-corrects-but-it-tends-to-see-painful-drawdowns-after-period">Hasbro, MGM Resorts, and Sketchers Use this Pre-IO AI Marketing Firm — <a href="https://www.benzinga.com/money/rad-intel">and You Can Own a Piece of it From $0.55/ per Share</a></a></li>
</ul>
Photo courtesy: Shutterstock

NVDA

Mark Cuban Advises GenZ To 'Spend Every Waking Minute Learning About AI:' Here's A List Of AI Investment Opportunities For Long Term

Chipmaker Nvidia Corp., along with other artificial intelligence-linked stocks and exchange-traded funds, have plunged in 2025 despite the growing enthusiasm surrounding the sector. This expert who predicted the dot-com crash compares the AI-linked enthusiasm to instances that &#8220;sometimes leads to bubbles&#8221;.
What Happened: After the release of his latest memo, &#8216;On Bubble Watch,&#8217; in early January, Howard Marks, the co-founder and co-chairman of Oaktree Capital Management, spoke about how AI is poised to change the world in a <a href="https://www.oaktreecapital.com/insights/memo-podcast/behind-the-memo-on-bubble-watch">podcast</a> titled &#8216;Behind the Memo &#8211; On Bubble Watch&#8217; with Harry Whitelaw.
According to Marks, the novelty of AI places no limits on the potential and enthusiasm surrounding the sector. Having &#8220;no historical&#8221; base also aids to the unending enthusiasm for AI.
Highlighting these conditions, Marks said, &#8220;That's a great precursor for the kind of enthusiasm that sometimes leads to bubbles.&#8221;
&#8220;The thrill of the new thing and the fear of missing out is an incredibly powerful combination. I've seen it at work many times and it'll never stop, in my opinion,&#8221; he added.
These predictions came true as the AI-linked stocks and sectors have underperformed in 2025. Despite the emergence of <a href="https://www.benzinga.com/markets/equities/25/02/43995515/jensen-huang-says-deepseek-was-fantastic-next-gen-models-demand-100x-more-compute-as-nvidia-smashes-earnings-records">DeepSeek</a>, which according to many experts will only fuel the demand of AI, the weakness in the sector is evident after unbridled enthusiasm in 2024.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Stocks</td>
<td>YTD Performance</td>
<td>One Year Performance</td>
</tr>
<tr>
<td>Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)</td>
<td>-9.76%</td>
<td>46.42%</td>
</tr>
<tr>
<td>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)</td>
<td>-1.01%</td>
<td>37.86%</td>
</tr>
<tr>
<td>Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)</td>
<td>-5.16%</td>
<td>-4.32%</td>
</tr>
<tr>
<td>Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)</td>
<td>-3.75%</td>
<td>19.36%</td>
</tr>
<tr>
<td>Alphabet Inc. Class C (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)</td>
<td>-9.71%</td>
<td>28.26%</td>
</tr>
<tr>
<td>Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)</td>
<td>11.51%</td>
<td>34.13%</td>
</tr>
<tr>
<td>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)</td>
<td>-22.74%</td>
<td>55.76%</td>
</tr>
<tr>
<td>Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>)</td>
<td>12.92%</td>
<td>253.18%</td>
</tr>
<tr>
<td>Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>)</td>
<td>0.02%</td>
<td>45.59%</td>
</tr>
</tbody>
</table>
</figure>
Broadly, the AI-linked ETFs have also largely underperformed in 2025.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>ETF Name</td>
<td>YTD Performance</td>
<td>One Year Performance</td>
</tr>
<tr>
<td>iShares US Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYW#NYSE">IYW</a>)</td>
<td>-3.06%</td>
<td>14.53%</td>
</tr>
<tr>
<td>Fidelity MSCI Information Technology Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FTEC#NYSE">FTEC</a>)</td>
<td>-3.80%</td>
<td>13.40%</td>
</tr>
<tr>
<td>First Trust Dow Jones Internet Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDN#NYSE">FDN</a>)</td>
<td>1.09%</td>
<td>20.90%</td>
</tr>
<tr>
<td>iShares Expanded Tech Sector ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGM#NYSE">IGM</a>)</td>
<td>-2.19%</td>
<td>16.18%</td>
</tr>
<tr>
<td>iShares Global Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IXN#NYSE">IXN</a>)</td>
<td>-2.50%</td>
<td>9.97%</td>
</tr>
</tbody>
</table>
</figure>
See Also: <a href="https://www.benzinga.com/markets/equities/25/01/42995814/billionaire-investor-who-predicted-the-dot-com-crash-25-years-ago-warns-of-another-market-storm-brewing-in-the-us">Billionaire Investor Who Predicted The Dot-Com Crash 25 Years Ago Warns Of Another Market Storm Brewing In The US</a>
Why It Matters: Famed investor Marks, who foresaw the dot-com bubble, once again sounded an alarm on Jan. 7, with his latest memo, &#8216;<a href="https://www.benzinga.com/markets/equities/25/01/42995814/billionaire-investor-who-predicted-the-dot-com-crash-25-years-ago-warns-of-another-market-storm-brewing-in-the-us">On Bubble Watch</a>&#8216;. He points to several &#8220;cautionary signs&#8221; in the current market, including soaring valuations, AI hype, and heavy reliance on mega-cap tech stocks. 
Marks also highlights research from JP Morgan Asset Management showing that high valuations like today&#8217;s often precede lackluster returns over the following decade. He cautions that investors should not ignore these warning signs, especially the elevated market valuations. Essentially asking to proceed with caution.
Price Action: The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, rose on Friday. The SPY was up 1.56% to $594.18, and the QQQ also advanced 1.56% to $508.10, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/02/43622036/warren-buffett-indicator-tops-205-amid-skyrocketing-sp-500-valuations-as-this-billionaire-dot-com-crash-predictor-sounds-alarm">Warren Buffett Indicator Tops 205% Amid Skyrocketing S&amp;P 500 Valuations As Billionaire Who Predicted Dot-Com Crash 25 Years Ago Warns Of Brewing Trouble</a></li>
</ul>
Photo courtesy: Oaktree Capital Management

AAPL

AMZN

GOOG

GOOGL

MSFT

ORCL

PLTR

TSLA

Billionaire Investor Howard Marks Warns Against AI's 'Powerful' Novelty And FOMO As Nvidia, Other AI-Linked Stocks Tumble In 2025: Says This Enthusiasm 'Sometimes Leads To Bubbles'

Billionaire Ray Dalio cautioned investors in a recent podcast interview with Tucker Carlson saying that the development of artificial intelligence could risk totalitarian social control or even anarchy in the coming years.
Highlighting the unpredictability in the direction of AI's growth, Dalio anticipated a radically different world over the next five years.
What Happened: Dalio recently appeared on a podcast with Carlson on the latter's YouTube channel discussing the trends in the U.S. economy, debt crisis, stock market, and AI.
Discussing the various possibilities of using AI at a "molecular level," from solving medical issues to problems like inflation within an economy, Dalio said that AI was a "two-edged sword". The future could be shaped depending on who has access to and control of such AI tools, he said.
When asked if there was a way to avoid totalitarian social control through AI, Dalio said, "I think there&#8217;s a question of whether you can have social and totalitarian controls or maybe you just have anarchy."
Dalio believes that humanity will undergo an AI technology-induced "time warp," which will radically change the world in the next five years. He also added that quantum computing will be another innovation to look at.
"So the world five years from now is going to be a radically different world. And I don&#8217;t know what that&#8217;s going to look like when you go into the world of quantum computing and what quantum is like in so many different ways. It raises questions of, you know, what is that like?" said Dalio.
See Also: <a href="https://www.benzinga.com/25/02/43932776/mark-cuban-slams-fd-up-healthcare-system-blames-insurance-designed-deductibles-for-patient-bankruptcy">Mark Cuban Calls Deductibles &#8216;The Biggest Problem&#8217; in Healthcare: &#8216;System…Needs To Be Redesigned&#8217;</a>
Why It Matters: Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) launched ‘Majorana 1,' last week which is one of its kind quantum computing chip operating in a topological phase of matter. While Satya Nadella termed it a "physics breakthrough," he added that the launch of this chip could shorten the timeline of a possible quantum computing breakthrough.
Similarly, with DeepSeek's emergence, the competition in the AI industry has also intensified. Here is a list of AI and quantum computing-linked exchange-traded funds that investors could consider over the long term.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>ETF Name</td>
<td>YTD Performnace</td>
<td>One Year Performance</td>
</tr>
<tr>
<td>iShares US Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYW#NYSE">IYW</a>)</td>
<td>7.55%</td>
<td>0.90%</td>
</tr>
<tr>
<td>Fidelity MSCI Information Technology Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FTEC#NYSE">FTEC</a>)</td>
<td>-2.57%</td>
<td>17.89%</td>
</tr>
<tr>
<td>First Trust Dow Jones Internet Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDN#NYSE">FDN</a>)</td>
<td>0.80%</td>
<td>22.78%</td>
</tr>
<tr>
<td>iShares Expanded Tech Sector ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGM#NYSE">IGM</a>)</td>
<td>-1.14%</td>
<td>20.91%</td>
</tr>
<tr>
<td>iShares Global Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IXN#NYSE">IXN</a>)</td>
<td>-0.66%</td>
<td>14.81%</td>
</tr>
<tr>
<td>Defiance Quantum ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QTUM#NASDAQ">QTUM</a>)</td>
<td>-1.93%</td>
<td>37.08%</td>
</tr>
</tbody>
</table>
</figure>
Price Action: The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, rose in premarket on Wednesday. SPY was up 0.45% to $596.94, and QQQ advanced 0.75% to $517.16, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
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</ul>
Photo courtesy: Shutterstock

Government

Financing

Events

Billionaire Ray Dalio Says AI Risks 'Totalitarian Control Or Anarchy' As It Could Reshape World In Next 5 Years: Here Are AI-Linked ETFs For Investors To Consider

As artificial intelligence continues to reshape industries, Savart&#8217;s AI engine, APART, is identifying promising investment opportunities beyond the expensive and overvalued &#8220;AI poster boys&#8221; in both the listed and unlisted space.
What Happened: APART AI is currently favoring the automotive sector, companies providing the &#8220;shovels&#8221; for the AI gold rush, and capital goods industries as top picks for 2025, suggesting that the real value might lie in the supporting infrastructure rather than the most visible AI players.
&#8220;Our APART AI is currently heavy on automobiles, AI-shovel businesses, and capital goods industries,&#8221; said Sankarsh Chanda, founder and CEO of Savart which owns the AI-driven investment research engine, APART AI.
Highlighting a pattern of stock-picking by APART AI among the AI-linked stocks, Chanda added &#8220;We have noticed is that our system is focused on picking those selling shovels rather than the gold sellers in this AI gold rush. This is also likely because of the over valuation of the AI poster boys in both the listed and unlisted space.&#8221;
Unlike traditional asset management and even robo-advisors, APART&#8217;s data-driven approach eliminates human bias and emotional decision-making, focusing on long-term wealth creation, explained Chanda in a conversation with <a href="https://www.benzinga.com">Benzinga</a>.
See Also: <a href="https://www.benzinga.com/general/market-summary/25/02/43764573/strategys-preferred-shares-outpace-peers-by-19-offer-7x-higher-liquidity-over-first-two-weeks-analysis-highlights-very-high-yields">Strategy&#8217;s Preferred Shares Outpace Peers By 19%, Offer 7x Higher Liquidity Over First Two Weeks: Analysis Highlights &#8216;Very High Yields&#8217;</a>
Why It Matters: Talking about the unpredictability surrounding Donald Trump&#8216;s new policies on trade and tax, and its impact on the stock market Chanda said that &#8220;volatility presents a lot of opportunities especially for long term investors and more so for foreign capital looking to enter the American market.&#8221;
&#8220;While the road may be rocky over the next few years, the American story seems stronger than ever,&#8221; he adds.
Addressing the future of AI amid the emergence of DeepSeek's modestly priced models, Chanda said, &#8220;AI is going to be more accessible, affordable and omni-present over the coming years.&#8221;
Price Action: Some exchange-traded funds consisting of AI-linked stocks have given a handsome year-to-date and annual return. Here is a list:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>ETF Name</td>
<td>YTD Performance</td>
<td>One Year Performance</td>
</tr>
<tr>
<td>iShares US Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYW#NYSE">IYW</a>)</td>
<td>3.96%</td>
<td>27.95%</td>
</tr>
<tr>
<td>Fidelity MSCI Information Technology Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FTEC#NYSE">FTEC</a>)</td>
<td>2.86%</td>
<td>27.30%</td>
</tr>
<tr>
<td>First Trust Dow Jones Internet Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDN#NYSE">FDN</a>)</td>
<td>9.56%</td>
<td>35.81%</td>
</tr>
<tr>
<td>iShares Expanded Tech Sector ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGM#NYSE">IGM</a>)</td>
<td>5.72%</td>
<td>33.32%</td>
</tr>
<tr>
<td>iShares Global Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IXN#NYSE">IXN</a>)</td>
<td>3.83%</td>
<td>23.30%</td>
</tr>
</tbody>
</table>
</figure>
On Friday, 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 and Nasdaq 100 indices, closed mixed. SPY fell 0.0049% to a value of $609.7, and QQQ was up by 0.42% to end at a value of $538.15, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
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</ul>
Photo courtesy: Shutterstock

Economics

Hidden Gems? AI Engine APART Highlights Automotive, Undervalued AI, Capital Goods As Top Sectors

Salesforce, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) shares are trading higher on Tuesday. The company disclosed that SharkNinja, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SN#NYSE">SN</a>) is adopting its Agentforce and Commerce Cloud solutions to enhance personalized customer service through autonomous agents and <a target="_blank" href="https://www.benzinga.com/pressreleases/25/01/b42971491/sharkninja-powers-up-global-customer-service-with-agentforce" rel="noreferrer noopener">support its global expansion efforts</a>.
Agentforce is expected to aid SharkNinja in deploying AI agents that autonomously handle tasks across various business functions.
Notably, Agentforce will provide SharkNinja with a 24/7 digital workforce to assist customers with purchases, product inquiries, troubleshooting, and returns, reducing human agent workloads and enabling them to focus on more impactful interactions.
Agentforce is anticipated to streamline tasks such as guiding purchases, resolving product queries, and managing returns, allowing human agents to focus on high-value engagements and enhancing the overall customer experience.
SharkNinja will leverage Commerce Cloud to unify customer data, enabling personalized shopping experiences and better tracking of global customer engagement.
Adam Evans, EVP &amp; GM of Salesforce AI Platform, said, &#8220;By integrating customer data with service and support functions, Agentforce enables SharkNinja to deliver an exceptional experience at every touchpoint — building customer loyalty and keeping them coming back time and time again.&#8221;
Investors can gain exposure to the CRM stock via&nbsp;iShares Expanded Tech-Software Sector ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IGV#BATS">IGV</a>) and First Trust DJ Internet Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDN#NYSE">FDN</a>).
Price Action: CRM shares are up 1.3% at $323.21 at the last check Tuesday.
Read Next:
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<li><a href="https://www.benzinga.com/25/01/42917603/salesforce-empowers-retailers-with-ai-to-boost-efficiency-and-sales" target="_blank" rel="noreferrer noopener">Salesforce Launches Retail Cloud And Agentforce Solutions: Details</a></li>
</ul>
Image sourced from Shutterstock.

SharkNinja Taps Salesforce Solutions For Personalized Customer Journeys: Details

Salesforce, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) shares are trading lower on Friday. The company introduced two new AI-driven solutions for retailers: Agentforce <a target="_blank" href="https://www.benzinga.com/pressreleases/25/01/b42910317/salesforce-unveils-agentforce-for-retail-to-boost-productivity-with-digital-labor-and-retail-cloud" rel="noreferrer noopener">for Retail and Retail Cloud with Modern POS</a>.
These solutions aim to enhance productivity for store associates, customer service teams, digital merchants and deliver more personalized shopping experiences.
Agentforce for Retail offers a pre-built library of agent skills, enabling retailers to deploy AI agents that automate tasks like order management and appointment scheduling, improving shopper engagement at scale.
On the other hand, Retail Cloud with Modern POS integrates online and in-store data into a unified platform, providing mobile POS, clienteling, endless aisle, mixed cart checkout, omnichannel fulfillment, and inventory management, helping associates serve customers more efficiently.
The company stated that Retail Cloud with Modern POS is expected to be generally available by April 2025.
Additionally, Salesforce will introduce enhanced reasoning and retrieval-augmented generation capabilities in February 2025.
Also, Commerce Skills for Guided Shopping, which includes features such as product search, product recommendations, add to cart, re-order, and WISMO (Where Is My Order), will be available in March 2025, alongside Commerce Skills for Order Management.
Notably, SharkNinja and Saks are using Salesforce solutions to enhance employee efficiency and improve customer interactions.
Nitin Mangtani, SVP and GM of Retail at Salesforce, said that the combination of AI-powered digital tools and a modern POS system can significantly expand retailers&#8217; operational capabilities. With the newly introduced Agentforce skills and an intuitive cloud-based POS solution, Salesforce aims to enable retailers to provide seamless, connected shopping experiences across both physical and digital channels, driving efficiency gains and fueling enterprise-wide growth.
Investors can gain exposure to the stock via&nbsp;iShares Expanded Tech-Software Sector ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IGV#BATS">IGV</a>) and First Trust DJ Internet Index Fund&nbsp;&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDN#NYSE">FDN</a>).
Price Action: CRM shares are down 2.41% at $319.03 at the last check Friday.
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Image via Shutterstock.

Movers

Salesforce Launches Retail Cloud And Agentforce Solutions: Details

Salesforce Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) unveiled a groundbreaking tool for managing <a href="https://www.benzinga.com/pressreleases/24/11/b42086392/salesforce-introduces-agentforce-testing-center-first-of-its-kind-ai-agent-lifecycle-management-to" target="_blank" rel="noreferrer noopener">artificial intelligence (AI) agent lifecycle processes</a>. 
The system, dubbed Agentforce Testing Center, introduces a new paradigm for businesses adopting autonomous agent technology.
The launch comes on the <a href="https://www.benzinga.com/general/social-media/24/11/42082700/meta-taps-former-salesforce-ai-chief-to-lead-enterprise-ai-push-amid-expanding-open-source-strategy" target="_blank" rel="noreferrer noopener">heels of Salesforce&#8217;s losing</a> its AI lead, Clara Shih, to Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>).
See Also: <a href="https://www.benzinga.com/tech/24/11/42086154/apple-to-argue-for-dismissal-of-doj-antitrust-case-over-alleged-us-smartphone-market-domination">Apple To Argue For Dismissal Of DOJ Antitrust Case Over Alleged US Smartphone Market Domination</a>
Salesforce aims to address critical challenges in AI deployment, including ensuring reliable performance and reducing operational risks. With Agentforce, the company is leveraging synthetic interactions and secure environments to streamline testing and improve customer experiences.
Agentforce Testing Center incorporates features that automate testing scenarios and generate synthetic interactions to simulate real-world use cases.
Teams can now assess AI agent performance, refine interactions, and ensure accurate outcomes before live deployment. With natural language processing capabilities, the tool allows parallel testing of hundreds of potential interactions, boosting efficiency and accuracy.
Salesforce introduced sandbox environments that replicate production data and configurations. This feature enables teams to prototype Agentforce applications safely without disrupting live operations. By integrating tools like DevOps Center and Salesforce CLI, developers can easily migrate tested solutions into production, ensuring seamless transitions.
New monitoring tools, such as Agentforce Analytics and Utterance Analysis, provide granular insights into AI performance. These tools, built on Salesforce&#8217;s Data Cloud, offer continuous improvement by analyzing user feedback and interaction patterns. Additionally, Digital Wallet integration ensures businesses can monitor their AI usage and manage credits effectively.
Agentforce Testing Center will be generally available in December, while sandbox support for Data Cloud and Agentforce is accessible today.
Northland Capital Partners highlighted <a target="_blank" href="https://www.benzinga.com/news/management/24/11/41978942/salesforce-ceo-marc-benioff-bets-big-on-billion-bots" rel="noreferrer noopener">Salesforce&#8217;s Agentforce platform</a> as &#8220;on par&#8221; with Microsoft Corp&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) AI offerings, underscoring its competitive edge.
CNBC&#8217;s Jim Cramer praised Agentforce as &#8220;revolutionary,&#8221; citing it as one of the most impactful AI use cases, driving Salesforce&#8217;s stock rally.
Salesforce&nbsp;stock gained over 26% year-to-date. Investors can gain exposure to the stock through First Trust DJ Internet Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDN#NYSE">FDN</a>) and REX FANG &amp; Innovation Equity Premium Income ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FEPI#NASDAQ">FEPI</a>).
Price Action: Salesforce stock is up 1.10% at $327 premarket at the last check on Wednesday.
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</ul>
Image: Shutterstock

FEPI

Salesforce Tool Aims To Simplify AI Agent Testing, Deployment

Salesforce, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) shares are trading higher on Tuesday. The company introduced Agentforce, which is a new feature that enables companies to develop AI agents capable of autonomously performing <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41596727/salesforces-agentforce-is-here-trusted-autonomous-ai-agents-to-scale-your-workforce" rel="noreferrer noopener">tasks across various business functions</a>.
Agentforce uses advanced reasoning to make decisions and execute actions, such as resolving customer inquiries and optimizing marketing campaigns. These agents operate independently, triggered by data changes, business rules, or API signals.
Agentforce includes customizable out-of-the-box agents that are easily deployed using low-code or no-code tools, operating continuously across all channels.
The first available agent, the Agentforce Service Agent, outperforms traditional chatbots by handling a broad range of tasks, from simple inquiries to complex issues, with pre-built topics and actions for customer support.
Users can tailor these agents for different industries, such as retail for order management or financial services for billing and payment support.
The Agentforce layer is seamlessly integrated into the Salesforce Platform, leveraging data, AI, and Salesforce&#8217;s Customer 360 ecosystem, all built on a reliable foundation.
This integration enhances the capabilities of agents, allowing for unlimited scalability, proactive actions across various roles and channels, and contextual awareness of every customer interaction.
Read: <a target="_blank" href="https://www.benzinga.com/news/24/10/41444585/copilots-a-flop-because-microsoft-lacks-the-data-salesforce-ceo-slams-rebranding-of-ai-tool-to-agent" rel="noreferrer noopener">&#8216;Copilot&#8217;s A Flop Because Microsoft Lacks The Data,&#8217; Salesforce CEO Slams Rebranding Of AI Tool To &#8216;Agents:&#8217; &#8216;That&#8217;s Panic Mode&#8217;</a>
Investors can gain exposure to the stock via&nbsp;iShares Expanded Tech-Software Sector ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IGV#BATS">IGV</a>) and&nbsp;First Trust DJ Internet Index Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDN#NYSE">FDN</a>).
Price Action: CRM shares are up 1.87% at $299.26 at the last check Tuesday.
Image via Shutterstock
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<li><a href="https://www.benzinga.com/markets/equities/24/10/41538144/marc-benioff-warns-microsofts-copilot-spills-corporate-data-emphasizes-security-gaps-ahead-of-sa" target="_blank" rel="noreferrer noopener">Marc Benioff Warns Microsoft&#8217;s Copilot &#8216;Spills Corporate Data,&#8217; Emphasizes Security Gaps Ahead Of Salesforce Agentforce Launch</a></li>
</ul>

Salesforce Launches Agentforce, Redefining AI In Business With Autonomous Solutions

Salesforce, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) collaborated with Blue Shield of California to provide physicians and patients with nearly instant prior authorization answers, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/n41427418/blue-shield-of-california-salesforce-making-prior-authorization-as-simple-as-using-a-credit-card" rel="noreferrer noopener">eliminating the typical days-long wait</a>.
The new platform will integrate with Care Connect, Blue Shield&#8217;s care management system, establishing a clinical infrastructure that emphasizes ongoing preventive care and wellness rather than just responding to medical needs.
In the future, prior authorization requests will automatically notify the health plan&#8217;s nurses, social workers, and behavioral health specialists when a member may require new or enhanced health support.
The nonprofit health plan&#8217;s prior authorization platform, developed on Salesforce Health Cloud, will integrate with physician systems to collect essential clinical data from electronic health records and streamline over 20 disparate systems.
This will enable members and physicians to receive prior authorization in nearly real-time.
The testing will start in early 2025, with a limited rollout later that year. Full real-time authorization capabilities are expected by January 2026, followed by additional features.
Jeff Amann, executive vice president and general manager, Salesforce Industries said, &#8220;With Blue Shield of&nbsp;California, we&#8217;re rebuilding the prior authorization process with new innovations that support near real-time decision-making so providers can more quickly, transparently and compliantly deliver the attentive care their patients deserve.&#8221;
Investors can gain exposure to the stock via iShares Expanded Tech-Software Sector ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IGV#BATS">IGV</a>) and First Trust DJ Internet Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDN#NYSE">FDN</a>).
Price Action: CRM shares are down 0.51% at $291.44 at the last check Monday.
Image via Shutterstock
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</ul>

Contracts

Salesforce Cuts Wait Times In Healthcare, New Collaboration Transforms Prior Authorizations

Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) <a href="https://www.benzinga.com/markets/equities/24/06/39454317/nvidia-stock-slides-nearly-2-in-premarket-following-last-weeks-pullback-whats-going-on">gained over 6% </a>on Tuesday after losing a staggering $550 billion in market value since Thursday, June 20. The company had become the most valuable on the planet last week when it reached a market capitalization of $3.46 trillion.
The artificial-intelligence company has risen back to $3.10 trillion by Tuesday after falling 16% since Thursday, settling in as the third most valuable corporation behind Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), which is valued at $3.34 trillion, and Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), which holds $3.22 trillion in value.
Concerns about Nvidia's grip on the S&amp;P 500 Index after soaring almost 140% this year have some analysts warning that a large enough sell-off for the chipmaker could spark a broader market slump, the Financial Times <a href="https://www.ft.com/content/7332b1f8-cf7c-4bfa-82f4-88d0deb23f98">reported</a>.
Also read: <a href="https://www.benzinga.com/trading-ideas/technicals/24/06/39482710/nvidia-stock-drops-over-12-in-3-trading-days-indicators-suggest-whats-next">Nvidia Stock Drops Over 12% In 3 Trading Days: Indicators Suggest What&#8217;s Next</a>
"If Nvidia corrects pretty hard in the coming months, it becomes very difficult for the [S&amp;P 500] to keep rising," Barry Bannister, chief equity strategist at Stifel, told FT. &#8220;And Nvidia will decelerate.&#8221;
Shares fell 4% on Monday, following disclosures on Friday that chief executive and co-founder, Jensen Huang, sold almost $95 million worth of the stock in the days around its climb to the world's most valuable company. The trades were part of a previously scheduled Rule 10b5-1 sale plan set up in March, filings show, according to the Financial Times.
Nvidia's fall from Thursday, June 20, to Tuesday has weighed on the broader chipmaking sector, with the PHLX Semiconductor Index (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOX#NASDAQ">SOX</a>) down 2.5% and the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which tracks the tech-dominated Nasdaq Composite, was down 0.4% since Thursday.
On Tuesday the iShares U.S. Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYW#NYSE">IYW</a>) gained 1.7%, Fidelity MSCI Information Technology Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FTEC#NYSE">FTEC</a>) jumped1.4% and First Trust Dow Jones Internet Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDN#NYSE">FDN</a>) rose by 1.4%.
Read now: <a href="https://www.benzinga.com/news/earnings/24/06/39476084/nasdaq-s-p-500-futures-firm-up-as-nvidia-poised-to-lead-tech-rebound-expert-says-a-major-gaffe-by-o">Nasdaq, S&amp;P 500 Futures Firm Up As Nvidia Poised To Lead Tech Rebound: Expert Says &#8216;A Major Gaffe By One Of The Candidates&#8217; In Presidential Debate Could Alter Market Trajectory</a>
Photo: Shutterstock

Nvidia Rebounds Over 6% After $550B Market Cap Loss

Software company Salesforce Inc&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) shares are ticking higher after the company announced London as the location for its first artificial intelligence (AI) center.
Salesforce shares are trading higher by 3.36% at $244.64 at last check Thursday.
What Happened: The company&#8217;s facility aims to foster collaboration among industry experts, developers, and customers, facilitating innovation and skill development in AI, reported Reuters.
Salesforce is hosting 18,000 attendees at its annual London World Tour event on Thursday. A year ago, the U.S. cloud software company <a href="https://www.benzinga.com/markets/equities/23/06/33054986/salesforce-plans-4b-investment-in-its-uk-business-over-5-years">announced a $4 billion investment in Britain </a>over the next five years, with a focus on advancing AI technologies.
Zahra Bahrololoumi, chief executive of Salesforce U.K. and Ireland, highlighted the enthusiasm among customers regarding AI&#8217;s potential benefits, coupled with a cautious approach to emerging risks. 
&#8220;No company will adopt AI unless they can trust it, which is why we are so well positioned,&#8221; she said, referring to Salesforce&#8217;s Einstein technology that includes a &#8220;Trust Layer&#8221; to protect customer data.
Related Read: <a href="https://www.benzinga.com/markets/equities/24/06/39190698/snowflake-ceo-targets-ai-acquisitions-to-boost-growth-report">Snowflake CEO Targets AI Acquisitions To Boost Growth: Report</a>
Why It Matters: Salesforce is &#8220;sending a clear message to customers and partners on AI,&#8221; Bahrololoumi emphasized.
The goal is to work closely with customers and partners to harness AI&#8217;s transformative potential responsibly.
Salesforce is &#8220;deeply committed to working closely together so that you can reap the rewards of this transformative technology, while ensuring it is a force for good,&#8221; Bahrololoumi said. 
In May, Salesforce posted its first quarterly revenue miss since 2006, along with <a href="https://www.benzinga.com/24/05/39112269/salesforce-still-confident-about-becoming-an-ai-era-winner-despite-disappointing-quarter">providing a softer-than-expected guidance</a>.
Analyst Reaction: Goldman Sachs analysts&nbsp;find Salesforce&nbsp;to be&nbsp;"an under-appreciated generative AI winner.&#8221;&nbsp;There is&nbsp;room for meaningful margin expansion, they say.
Price Action: Salesforce stock has gained about 11% in the last 12 months. Investors can gain exposure to the stock via IShares Expanded Tech-Software Sector ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IGV#BATS">IGV</a>) and First Trust Dow Jones Internet Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDN#NYSE">FDN</a>).
Disclaimer:This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image: Shutterstock

What's Happening With Cloud Software Company Salesforce's Shares On Thursday?

Piper Sandler&nbsp;analyst James Fish reiterated&nbsp;Cisco Systems Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) with a Neutral and raised the&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/CSCO/analyst-ratings" rel="noreferrer noopener">price target from $47 to $51</a>.
On March 14, Cisco won the EU clearance for its pending Splunk deal, resulting in Cisco closing on Splunk on March 18, long ahead of the initial close date and giving Cisco approximately half a quarter of its contribution in the fiscal third quarter.&nbsp;
Cisco raised $13.5 billion of debt at a 5% average cost of debt at the end of February to finance the transaction.&nbsp;
Fish&#8217;s &#8220;Base&#8221; Case that is now included in his estimates given the&nbsp;<a target="_blank" href="https://www.benzinga.com//node/37780307" rel="noreferrer noopener">deal closure results in Splunk&nbsp;</a>achieving over $5 billion of revenue by fiscal 2026, Splunk (with synergies) having 38% operating margin in fiscal 2026. The analyst projects $0.02 EPS and $403 million free cash flow accretion for fiscal 2025 and $0.17 EPS and $1.2 billion free cash flow accretion for fiscal 2026.&nbsp;
Notably, his &#8220;Realistic Upside&#8221; case shows more stable growth at Splunk given where it is at on its transition and more material cost synergies that result in over 50% fiscal 2026 Splunk-only operating margin and $0.37 EPS and $1.8 billion free&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">cash flow in fiscal 2026 accretion.&nbsp;</a>
The analyst lauded Cisco&#8217;s increasing visibility, Splunk&#8217;s impact, Cat9K renewals, a refresh of old and end-of-life systems, consistent capital return program installed, estimate reset for core Cisco, potential for AI via SiliconOne or datacenter Ethernet systems, and valuation.
However, Fish also red-flagged Cisco&#8217;s exposure to networking&#8217;s down-cycle outside of AI, too little relative exposure to the Cloud vertical and high-end data center switches, management&#8217;s downward revision of forward numbers over the last four quarters, and Organic Security and Collaboration are struggling.
Fish projects third-quarter revenue and EPS of $12.7 billion and $0.86.
Cisco stock lost close to 4% last year. Investors can gain exposure to the stock via&nbsp;First Trust NASDAQ Cybersecurity ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CIBR#NASDAQ">CIBR</a>) and&nbsp;First Trust DJ Internet Index Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDN#NYSE">FDN</a>).
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/02/37170678/ciscos-long-term-prospects-shine-with-ai-and-security-analysts-stay-optimistic-despite-challenges" rel="noreferrer noopener">Cisco&#8217;s Long-Term Prospects Shine with AI and Security, Analysts Stay Optimistic Despite Challenges</a>
Price Action: CSCO shares traded higher by 0.03% at $49.15 on the last check Wednesday.
Photo via Shutterstock

CIBR

CSCO

Cisco Secures Splunk - A Game Changer For Growth And Free Cash Flow, Says Analyst

The July jobs report issued Friday delivered mixed takeaways for the market, although it confirmed an overall <a href="https://www.benzinga.com/economics/macro-economic-events/23/08/33573419/julys-mixed-jobs-report-payrolls-miss-estimates-unemployment-rate-dips-wages-surp">healthy U.S. labor market.</a>
On one hand, the pace of nonfarm payrolls growth fell short of forecasts in July, with 187,000 jobs gained compared to the expected 200,000. On the other hand, the jobless rate fell to 3.5%, exceeding expectations of 3.6%. Wages increased at a monthly pace of 0.4% and an annual rate of 4.4%, which was faster than expected.
<h2 class="wp-block-heading">Biden, Fed Governor On July&#8217;s Jobs Report</h2>
The market interpreted the jobs report in a dovish manner, lowering expectations for potential interest rate hikes in September. Market-derived probabilities put the chance of a 25-basis-point hike in September at 13%, down from 19% before the report was issued Friday morning. 
President Joe Biden applauded the job market data, emphasizing that the share of working-age Americans with jobs has reached a 20-year high. He attributes this positive trend to the effects of his economic policies, often referred to as &#8220;Bidenomics.&#8221;
Atlanta Fed President Raphael Bostic said the Fed is likely to remain into restrictive territory well into 2024 and said he is unsurprised wages remain strong.
Five stocks from the Russell 1000 index (large-cap) and five exchange-traded funds had substantial price action in the opening minutes of trading Friday as a result of jobs data and the movement in interest rates, as well as statements regarding quarterly corporate results.
Read now: <a href="https://www.benzinga.com/23/08/33561045/lawmakers-press-biden-to-address-us-investment-risks-in-china-for-too-long-america-has-funded-the-ch">Lawmakers Press Biden To Address US Investment Risks In China: &#8216;For Too Long, America Has Funded The China Communist Party&#8217;s Military Buildup&#8217;</a>
<h2 class="wp-block-heading">5 Stocks Rallying On Friday</h2>
<ul>
<li>Atlassian Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEAM#NASDAQ">TEAM</a>) surged by an impressive 19% as the company massively surpassed Street&#8217;s estimates in the last quarter, prompting Barclays to raise its price target from $165 to $195.</li>
<li>Natera Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NTRA#NYSE">NTRA</a>) soared 16% after delivering better-than-expected results in the second quarter. </li>
<li>Universal Display Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OLED#NASDAQ">OLED</a>) rose 11% following its stronger-than-expected earnings and revenues, with both Needham and Deutsche Bank raising their price targets.</li>
<li>Cloudflare, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NET#NASDAQ">NET</a>) experienced a 10% rally after it reported stronger-than-anticipated earnings, leading Needham to increase the price target from $75 to $85. </li>
<li>Amazon Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) gained nearly 10%, achieving its strongest daily performance since November 2022 due to a surprise EPS and revenue beat in the last quarter.</li>
</ul>
<h2 class="wp-block-heading">5 ETFs Rallying On Friday</h2>
<ul>
<li>The Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) saw a notable 2.2% increase in stocks within the consumer discretionary sector, largely driven by a surge in the ETF&#8217;s heavyweight, Amazon.</li>
<li>VanEck Junior Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDXJ#NYSE">GDXJ</a>) experienced a boost of 1.8% in response to rising gold prices that were fueled by a declining dollar.</li>
<li>iShares MSCI Mexico ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWW#NYSE">EWW</a>) surged 1.7%, aided by a 1% increase in the value of the Mexican peso. </li>
<li>First Trust DJ Internet Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDN#NYSE">FDN</a>) rose 1.2%, led by Amazon, Cloudflare and Atlassian. </li>
<li>iShares JP Morgan USD Emerging Market Bond ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EMB#NYSE">EMB</a>) recorded an impressive 1% gain, marking its best daily performance of the week. A lower U.S. dollar and declining Treasury yields contributed to the strength of emerging market bonds.</li>
</ul>
Related Link: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/08/33575375/atlassian-performs-despite-macro-headwinds-4-analysts-on-q4-print-outlook">Atlassian Performs Despite Macro Headwinds: 4 Analysts On Q4 Print, Outlook</a>
Photo via Shutterstock.

Macro Economic Events

Emerging Market ETFs

Federal Reserve

iShares JPMorgan USD Emerging Markets Bond Fund

GDXJ

NTRA

OLED

TEAM

Select Sector SPDR-Consumer Discretionary

Investors Cheer Jobs Report: Why Are These 5 Stocks And 5 ETFs Shining On Friday?

As the second quarter comes to a close, it&#8217;s time to look at the performance of industry ETFs and the stocks that helped shape <a href="https://www.benzinga.com/general/biotech/23/03/31609224/top-5-best-and-worst-u-s-industry-etfs-in-q1-2023-ai-and-bank-turmoil-shaped-stock-returns">their respective sector returns. </a>
With the S&amp;P 500 Index, as represented by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), up 6% during this time, investors are eager to know which industries have outperformed or lagged behind the overall market over the quarter. 
<h2 class="wp-block-heading">Best Performing Industry ETFs in Q2 2023</h2>
The top five performing Industry ETFs in the second quarter of the year were:
5) First Trust Dow Jones Internet Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDN#NYSE">FDN</a>)
<ul>
<li>Description: FDN tracks the performance of the Dow Jones Internet Composite Index, providing exposure to leading internet companies.</li>
<li>Performance quarter-to-date (as of June 26): 7.4%</li>
<li>Top three holdings: Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (9.76%), Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) (9.47%), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) (7.7%). </li>
<li>Top three stock contributors (% added to industry quarterly performance): AMZN (2.5%), META (2.2%), Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) (1.2%)</li>
</ul>
4) US Global Jets ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JETS#NYSE">JETS</a>)
<ul>
<li>Description: JETS invests in the global airline industry, including airlines, manufacturers, and airport services, allowing investors to access the aviation sector.</li>
<li>Performance quarter-to-date (as of June 26): 9.4%</li>
<li>Top three holdings: Delta Air Lines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) (10.7%), Southwest Airlines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) (10.5%), American Airlines Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NYSE">AAL</a>) (10.2%) </li>
<li>Top three stock contributors: DAL (3.4%), United Airlines Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NYSE">UAL</a>) (2.7%), SkyWest Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYW#NASDAQ">SKYW</a>) (2%). </li>
</ul>
3) iShares Expanded Tech-Software Sector ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGV#NYSE">IGV</a>)
<ul>
<li>Description: IGV aims to replicate the performance of the S&amp;P North American Technology-Software Index, offering exposure to the software industry.</li>
<li>Performance quarter-to-date (as of June 26): 10.4%</li>
<li>Top three holdings: Adobe, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) (9.1%), Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) (8.9%), Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) (8.5%)</li>
<li>Top three stock contributors: ORCL (2.6%), ADBE (2.4%), MSFT (1.5%). </li>
</ul>
2) VanEck Vectors Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NYSE">SMH</a>)
<ul>
<li>Description: SMH seeks to track the MVIS US Listed Semiconductor 25 Index, providing exposure to companies in the semiconductor industry.</li>
<li>Performance quarter-to-date (as of June 26): 12.2%</li>
<li>Top three holdings: NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) (19.6%), Taiwan Semiconductor Manufacturing Company Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NASDAQ">TSM</a>) (11.8%), Bradcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) (5.1%)</li>
<li>Top three stock contributors: NVDA (7.9%), AVGO (1.4%), TSM (1.2%) </li>
</ul>
1) iShares U.S. Home Construction ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITB#NYSE">ITB</a>)
<ul>
<li>Description: ITB invests in U.S. companies involved in home construction and improvement, allowing investors to participate in the housing sector.</li>
<li>Performance quarter-to-date (as of June 26): 16.7%</li>
<li>Top three holdings: D.R. Horton Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) (15.4%), Lennar Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) (12.8%), and NVR Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVR#NYSE">NVR</a>) (7.7%) </li>
<li>Top three stock contributors: DHI (3.6%), LEN (2.3%), PulteGroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>) (2.2%)</li>
</ul>
See Also: <a href="https://www.benzinga.com/government/23/06/32913576/us-builders-are-the-most-confident-theyve-been-about-new-single-family-homes-in-11-months" target="_blank" rel="noreferrer noopener">US Builders Are The Most Confident They&#8217;ve Been About New Single-Family Homes In 11 Months</a>
<h2 class="wp-block-heading">Top Performing U.S. Industry ETFs For The Quarter</h2>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="759" src="https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/26161047/ITB_2023-06-26_22-10-13_1505e-1024x759.png" alt="" class="wp-image-58013" srcset="https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/26161047/ITB_2023-06-26_22-10-13_1505e-1024x759.png 1024w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/26161047/ITB_2023-06-26_22-10-13_1505e-300x222.png 300w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/26161047/ITB_2023-06-26_22-10-13_1505e-768x569.png 768w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/26161047/ITB_2023-06-26_22-10-13_1505e-1536x1138.png 1536w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/26161047/ITB_2023-06-26_22-10-13_1505e.png 1660w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h2 class="wp-block-heading">Worst Performing Industry ETFs in Q2 2023</h2>
The worst five performing Industry ETFs in the second quarter of the year were:
5) VanEck AgriBusiness ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOO#NYSE">MOO</a>)
<ul>
<li>Description: MOO seeks to replicate the performance of the MVIS Global Agribusiness Index, offering exposure to companies involved in various segments of the agricultural industry, including farming, fertilizers, equipment, and more.</li>
<li>Performance quarter-to-date (as of June 26): down by 6.7%</li>
<li>Top three holdings: Deere &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DE#NYSE">DE</a>) (8.54%), Zoetis Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTS#NYSE">ZTS</a>) (8.3%), and Bayer Aktiengesellschaft (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BAYRY#OTC">BAYRY</a>) (6.95%).</li>
<li>Worst 3 stock contributors: Nutrien Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NTR#NYSE">NTR</a>) (-1.1%), The Mosaic Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOS#NYSE">MOS</a>) (-0.5%), and Tyson Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>) (-0.4%).</li>
</ul>
4) SPDR S&amp;P Metals &amp; Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>)
<ul>
<li>Description: XME follows the S&amp;P Metals &amp; Mining Select Industry Index, investing in companies involved in metals and mining production.</li>
<li>Performance quarter-to-date (as of June 26): down by 7.7%</li>
<li>Top three holdings: Commercial Metals Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) (4.8%), Alpha Metallurgical Resources, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMR#NYSE">AMR</a>) (4.7%), and Nucor Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) (4.6%).</li>
<li>Worst three stock contributors: MP materials corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MP#NYSE">MP</a>) (-0.9%), Alcoa Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>) (-0.8%), and Peabody Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTU#NYSE">BTU</a>) (-0.7%).</li>
</ul>
3) SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>)
<ul>
<li>Description: KRE seeks to replicate the performance of the S&amp;P Regional Banks Select Industry Index, providing exposure to regional banking companies.</li>
<li>Performance quarter-to-date (as of June 26): down by 8.6%</li>
<li>Top three holdings: New York Community Bancorp, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYCB#NYSE">NYCB</a>) (2.08%), Bank OZK (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OZK#NASDAQ">OZK</a>) (2.06%), and Cullen/Frost Bankers, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFR#NYSE">CFR</a>) (2.06%).</li>
<li>Worst 3 stock contributors: First Horizon Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FHN#NYSE">FHN</a>) (-0.9%), PacWest Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PACW#NASDAQ">PACW</a>) (-0.5%), and Valley National Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VLY#NASDAQ">VLY</a>) (-0.4%).</li>
</ul>
2) Invesco WilderHill Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBW#NYSE">PBW</a>)
<ul>
<li>Description: PBW aims to track the WilderHill Clean Energy Index, offering investors exposure to clean energy companies.</li>
<li>Performance quarter-to-date (as of June 26): down by 9.3%</li>
<li>Top three holdings: Bel Fuse Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BELFA#NASDAQ">BELFA</a>) (2.4%), Joby Aviation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JOBY#NYSE">JOBY</a>) (2.3%), and Fluence Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLNC#NASDAQ">FLNC</a>) (2.04%).</li>
<li>Worst 3 stock contributors: Workhorse Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WKHS#NASDAQ">WKHS</a>) (-0.5%), Blink Charging Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLNK#NASDAQ">BLNK</a>) (-0.4%), and Wallbox N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBX#NASDAQ">WBX</a>) (-0.4%).</li>
</ul>
1) Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>)
<ul>
<li>Description: TAN tracks the MAC Global Solar Energy Index, providing investors with exposure to companies involved in the solar energy industry.</li>
<li>Performance quarter-to-date (as of June 26): negative by 11.8%</li>
<li>Top three holdings: First Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) (9.9%), Enphase Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) (9.4%), and SolarEdge Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>) (8.9%).</li>
<li>Worst three stock contributors: ENPH (-2.1%), FSLR (-1.8%) and SEDG (-1.3%). </li>
</ul>
Read now: <a href="https://www.benzinga.com/markets/options/23/06/33011147/this-is-what-whales-are-betting-on-first-solar" target="_blank" rel="noreferrer noopener">This Is What Whales Are Betting On First Solar</a>
<h2 class="wp-block-heading">Worst Performing U.S. Industry ETFs For The Quarter</h2>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="759" src="https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/26161237/TAN_2023-06-26_22-12-23_54cc0-1024x759.png" alt="" class="wp-image-58014" srcset="https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/26161237/TAN_2023-06-26_22-12-23_54cc0-1024x759.png 1024w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/26161237/TAN_2023-06-26_22-12-23_54cc0-300x222.png 300w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/26161237/TAN_2023-06-26_22-12-23_54cc0-768x569.png 768w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/26161237/TAN_2023-06-26_22-12-23_54cc0-1536x1138.png 1536w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/26161237/TAN_2023-06-26_22-12-23_54cc0.png 1660w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>

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Unmasking Q2 2023's Stars & Strugglers: Industry ETFs And Top Stock Standouts

The latest&nbsp;U.S. labor market report&nbsp;showed a remarkable rise in non-farm payrolls in May, with a surprising gain of 339,000.
This marks the strongest pace of employment growth since January 2023.
This surprising jump also bucked&nbsp;projections of a decline in job growth to 180-190,000 the revised April result of 294,000, signaling <a href="https://www.benzinga.com/economics/macro-economic-events/23/06/32689386/us-labor-market-on-fire-may-jobs-data-reveals-employment-boom-steady-wage-growth-" target="_blank">healthy employment conditions overall. </a>
May&#39;s&nbsp;jobs&nbsp;report also indicated notable variations in employment growth&nbsp;between industries, underscoring the importance for investors to monitor these <a href="http://www.benzinga.com/money/best-sectors-to-invest-in-right-now/">sector</a>-specific trends closely.
<h3>Which Industries Added the Most And Least Jobs in May?</h3>
<ul>
<li>Private education and health services led with 97,000 new hires, driven by a 52,400 employment growth in health care.</li>
<li>Professional and business services witnessed an increase of 64,000 jobs.&nbsp;</li>
<li>
Leisure and hospitality added 48,000 employees, with food services and drinking places contributing 33,000.
</li>
<li>
Construction industry saw a surge of 25,000 jobs.
</li>
<li>
Employees in transportation and warehousing grew by 24,200, driven by transit, ground passenger transportation, and couriers.
</li>
<li>
Financial activities hired 10,000 employees, with finance and insurance adding 7,100 jobs and real estate and rental and leasing adding 2,800 jobs. Within this industry, commercial banking saw 5,800 layoffs.
</li>
<li>
Utilities, wholesale trade, and mining/logging had minimal employment growth.
</li>
<li>
The nondurable goods industry&nbsp;experienced a loss of 5,000 jobs.
</li>
<li>
The information industry suffered the most job losses, down by 9,000.&nbsp;Publishing and telecommunications segments both recorded a loss of 2,500 jobs. 
	&nbsp;
</li>
</ul>
<h3>How Those Industries&#39; ETFs Performed: Winners And Losers</h3>
While tech-related industries such as semiconductors, the internet, and software have had strong growth in the last month, driven by the <a href="https://www.benzinga.com/topic/artificial-intelligence" target="_blank">AI rally</a>. Other sectors such as agriculture, mining, and retail have lagged.
Here are some industry ETF performance highlights over the past month:&nbsp;
<ul>
<li>VanEck Semiconductor ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/smh#NASDAQ">SMH</a>) up 17.1%.</li>
<li>First Trust Dow Jones Internet Index Fund (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fdn#NASDAQ">FDN</a>) up 12.3%.</li>
<li>iShares Expanded Tech-Software Sector ETF (ARCA: IGV) up 11.3%.</li>
<li>SPDR S&amp;P 500 Retail ETF (ARCA: XRT) down by 4%.</li>
<li>VanEck Gold Miners ETF (ARCA: GDX) down by 5.2%.</li>
<li>VanEck Vectors Agribusiness ETF (ARCA: MOO) down by 7.4%.</li>
</ul>
Now Read:&nbsp;<a href="https://www.benzinga.com/markets/penny-stocks/23/06/32682660/benzingas-stock-whisper-index-5-stocks-investors-are-secretly-monitoring-but-not-talking-abo" target="_blank">Benzinga&#39;s &#39;Stock Whisper&#39; Index: 5 Stocks Investors Are Secretly Monitoring But Not Talking About Yet</a>
Image: Pixabay

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Which Industries Are Hiring The Most/Least Right Now  - What May Jobs Data Shows

Canadian e-commerce juggernaut Shopify (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/shop#NYSE">SHOP</a>) is on a stellar run, one that&#39;s eliciting calls of &ldquo;story stock&rdquo; status. With the shares higher by almost 52% over the past month, those calls are proving accurate.
With a market capitalization of $90.15 billion as of the May 14 close and using Amazon.com (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) as the comparison, Shopify could have plenty of growth ahead of it. E-commerce <a href="https://www.benzinga.com/trading-ideas/long-ideas/20/04/15880678/3-e-commerce-etfs-for-the-online-shopping-boom">and online shopping sure do</a>.
Speaking of Amazon, that stock&#39;s price tag is unapproachable for many ordinary investors and that&#39;s getting to be the case with Shopify following the May 14 close just over $754.
With that in mind, investors may want to consider some of the following exchange traded funds for proxy-like exposure to Shopify.
<h3>JPMorgan BetaBuilders Canada ETF (BBCA)</h3>
With its recent, Shopify is now the largest Canadian company by market value and is now the second-largest component in the JPMorgan BetaBuilders Canada ETF (CBOE: BBCA). BBCA itself is the largest Canada ETF trading in the U.S., besting a rival product from iShares by $1.3 billion.
However, Shopify can&#39;t carry the day for the two Canada ETFs as highlighted by year-to-date losses of about 21% for both funds. That underscores the intimate correlations Canadian stocks often share with oil prices.
<h3>First Trust Dow Jones International Internet ETF (FDNI)</h3>
The First Trust Dow Jones International Internet ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fdni#NASDAQ">FDNI</a>) is the international counterpart to the popular First Trust Dow Jones Internet ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fdn#NYSE">FDN</a>). While FDN is heavy on the likes of Amazon and Facebook (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fb#NASDAQ">FB</a>), FDNI lays claim to being the ETF with the largest Shopify weight at about 10%.
FDNI&#39;s Shopify weight is about 230 basis points higher than the ETF with the second-largest allocation to the stock. Overall, FDNI is a play on international equities with popular <a href="https://www.benzinga.com/trading-ideas/long-ideas/20/05/16017174/3-etfs-to-order-out-with-if-uber-buys-grubhub">internet shopping footprints</a> and is heavy on emerging markets stocks. The First Trust fund is higher by 14.1% this year.
<h3>Global X Cloud Computing ETF Global X Cloud Computing ETF (CLOU)</h3>
As noted here earlier this week, <a href="https://www.benzinga.com/trading-ideas/long-ideas/20/05/16003112/3-soaring-cloud-computing-etfs">cloud ETFs are on fire</a> this year and that includes the Global X Cloud Computing ETF Global X Cloud Computing ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/clou#NASDAQ">CLOU</a>). CLOU is the ETF with the second-largest Shopify allocation at 7.7%.
Of the roughly 30 ETFs with Shopify allocations, only FDNI and CLOU have weights north of 7% to the stock. Of the trio mentioned here, CLOU is the best-performing one this year as its higher by over 17%.
Photo credit: Raysonho @ Open Grid Scheduler, via <a href="https://commons.wikimedia.org/wiki/File:ShopifyTorontoOffice.jpg">Wikimedia Commons</a>

Long Ideas

Retail Sales

BBCA

CLOU

FDNI

SHOP

3 ETFs With Big-Time Shopify Exposure

Having debuted last June, the O&rsquo;Shares Global Internet Giants ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ogig#NYSE">OGIG</a>) is one of the newest Internet exchange traded funds listed in the U.S.
Youth aside, OGIG is setting a torrid pace in 2019 with a year-to-date gain of just over 28 percent.
<h3>What Happened</h3>
OGIG&#39;s stellar performance to start 2019 may imply investors have missed out on some easy money, but a confluence of factors, including the <a href="https://www.benzinga.com/trading-ideas/long-ideas/19/03/13374294/click-here-for-a-soaring-retail-etf">ongoing e-commerce boom</a>, support long-term upside for OGIG. The fund tracks the O&rsquo;Shares Global Internet Giants Index.
OGIG itself is &ldquo;designed to provide investors with the means to invest in some of the largest global companies that derive most of their revenue from the Internet and e-commerce sectors that exhibit quality and growth potential,&rdquo; <a href="https://oshares.com/ogig/">according to O&#39;Shares</a>.
<h3>Why It&#39;s Important</h3>
On its own, OGIG&#39;s 2019 gain of 28.05 percent is impressive, but that performance is even more impressive when considering the O&#39;Shares fund is beating the First Trust Dow Jones Internet Index Fund (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fdn#NYSE">FDN</a>), the largest U.S.-listed Internet ETF, by almost 600 basis points.
One of the obvious reasons why OGIG is trouncing its rival is China. The O&#39;Shares ETF has exposure to Chinese e-commerce and Internet stocks while the rival FDN solely focuses on U.S. companies. That is an important distinction when considering China had 2018 e-commerce sales of $1.3 trillion compared to $513 billion in the U.S.
&ldquo;The rapid adoption of e-commerce in China has helped fuel regional dominance from Asia-Pacific,&rdquo; <a href="https://oshares.com/ogig/">according to O&#39;Shares research</a>. &ldquo;In 2010, Asia- Pacific accounted for only a third of total e-commerce. As of last year, that proportion had grown to 60%. North America and Europe comprised a total of 36%, at 21% and 15%, respectively. By 2021, Asia-Pacific&rsquo;s share of global e-commerce is projected to grow to 67%.&rdquo;
<h3>What&#39;s Next</h3>
In terms of what&#39;s next for OGIG, likely more growth on the e-commerce front and China will be leading that charge. Last year, online retail sales accounted for 22 percent of all Chinese retail sales.
&ldquo;In China, Alibaba holds a one day online retail event called Singles Day, which is even larger than Black Friday and Cyber Monday combined,&rdquo; said O&#39;Shares. &ldquo;Over 24 hours, Alibaba&rsquo;s sales exceeded $30 billion, up over 25% compared to 2017.&rdquo;
Alibaba Group Holding Ltd. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/baba#NYSE">BABA</a>) is OGIG&#39;s third-largest holding at a weight of 6 percent.
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It's Not Too Late To Embrace This Internet ETF

The <a href="https://www.benzinga.com/analyst-ratings/analyst-color/18/11/12758020/analyst-fang-stocks-growth-fundamentals-remain-relative">FAANG stocks</a>, among others, make for easy culprits behind the recent slide in momentum stocks and the related exchange traded funds.
It may be overly simplistic, but a key element of momentum investing is that it works until doesn&#39;t. FAANG and other momentum fare worked for a while, but the good times were interrupted last month, pressuring some well-known ETFs in the process.
<h3>What Happened</h3>
Different momentum strategies apply the factor in varying ways. The popular iShares Edge MSCI USA Momentum Factor ETF (CBOE: MTUM) is mostly a price momentum strategy while the First Trust Dorsey Wright Focus 5 ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fv#NASDAQ">FV</a>) is rooted in relative strength.
As is the case with many basic growth and momentum ETFs, MTUM is heavily allocated to the technology and consumer discretionary sectors. Even with the recent deterioration in those groups, those two sectors combine for over <a href="https://www.ishares.com/us/products/251614/?referrer=tickerSearch">56 percent of MTUM&#39;s weight.</a>
&quot;Within the tech sector, the relative strength for three of MTUM&rsquo;s largest sub-industries (data processing &amp; outsourced services and semiconductors in the technology sector and aerospace &amp; defense in the industrials sector) has weakened in recent months,&rdquo; said <a href="https://newpublic.cfraresearch.com/">CFRA Research</a> Director of ETF &amp; Mutual Fund Research Todd Rosenbluth in a Tuesday note.
<h3>Why It&#39;s Important</h3>
How funds arrive at momentum matters for investors&#39; outcomes. For 90 days ending Nov. 26, MTUM was down 11.1 percent. That&#39;s obviously bad, but not nearly as bad as the 14.3&nbsp;percent shed over the same period by FV.
FV holds five other First Trust ETFs displaying positive relative strength traits, but the ETF&#39;s FAANG and technology exposure is massive as a technology sector fund, a Nasdaq-100 Index ETF and the First Trust Dow Jones Internet Index Fund (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fdn#NYSE">FDN</a>) combine for about 60 percent of FV&#39;s roster.
<h3>What&#39;s Next</h3>
&ldquo;Despite the more frequent rebalance than MTUM, FV&rsquo;s 4.7 percent loss year-to-date through November 24 was much wider than fractional gain for the iShares offering,&rdquo; said Rosenbluth. &ldquo;This highlights that not all smart-beta ETFs in a style will perform in sync with one another.&rdquo;
FV has also been stymied by retrenchment in biotech stocks because its other two holdings are a biotech fund and healthcare ETF with some biotech exposure.
Related Links:
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