Invesco QQQ Trust, Series 1 (NASDAQ: QQQ)

Dernières nouvelles pour Invesco QQQ Trust, Series 1 (NASDAQ:QQQ)

Invesco QQQ Trust, Series 1

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The Trust holds the Portfolio and cash and is not actively managed by traditional methods, which typically involve effecting changes in the Portfolio on the basis of judgments made relating to economic, financial and market considerations. To maintain the correspondence between the composition and weights of the securities in the Trust and the stocks in the Nasdaq-100 Index, the Trustee adjusts the Securities from time to time to conform to periodic changes in the identity and/or relative weights of Index Securities. The composition and weighting of the securities portion of a Portfolio Deposit are also adjusted to conform to changes in the Index. Changes to the Index are made after the close of the market

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Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) treasury companies like Michael Saylor&#8216;s Strategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) (formerly MicroStrategy) were in focus as Brett Winton, the chief futurist at ARK Investment Management LLC, highlighted that trouble could be brewing for such companies in the long run.
What Happened: As companies like MSTR have been issuing equity and debt to raise funds for Bitcoin purchases, Winton underscored that funding purchases with debt &#8220;seems like a recipe for disaster on the back end of this cycle.&#8221;
According to him, if the treasury companies keep doing so, &#8220;a higher debt mix&#8221; will &#8220;be the seed that grows to destroy the business-less business model.&#8221;
He explains this by highlighting the presence of an arbitrage opportunity till the time the stock prices for companies like MSTR are trading at a premium to the net asset value (NAV).
As of its May 12 SEC filing, MSTR held 568,840 Bitcoins at an aggregate purchase price of $39.41 billion, whereas its market capitalization stood at a staggering $108.55 billion.
Thus, Winton implied that BTC treasury companies could keep issuing equity until the arbitrage opportunity closes. &#8220;Competitors are now launching/raising will accelerate that process,&#8221; he said in his X post.
However, as the equity to NAV gap closes, the companies will shift to debt for funding their BTC purchases, thus concocting the &#8220;recipe for disaster,&#8221; as underscored by Winton.
<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">though so-called bitcoin treasury companies don&#39;t make sense, but so long as they are trading at a NAV premium to the underlying holdings they should continue to sell equity and buy bitcoin until they arbitrage out the opportunity. That &quot;competitors&quot; are now launching/raising…
&mdash; Brett Winton (@wintonARK) <a href="https://twitter.com/wintonARK/status/1923310593592926619?ref_src=twsrc%5Etfw">May 16, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/general/market-summary/25/05/45399940/warren-buffett-shows-how-patience-pays-98-of-his-160-billion-wealth-came-after-turning-65-thanks-the-power-of-compound-interest">Warren Buffett Shows How Patience Pays: 98% Of His $160 Billion Wealth Came After Turning 65, Thanks The Power Of &#8216;Compound Interest&#8217;</a>
Why It Matters: While MSTR is the largest BTC treasury company that has issues both equity and debt to purchase Bitcoins, Ryan Cohen&#8216;s GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) has recently announced its <a href="https://www.benzinga.com/general/market-summary/25/03/44511612/gamestop-follows-mstrs-footsteps-why-will-investors-buy-convertible-notes-with-no-interest">plans to join MSTR&#8217;s ranks</a>.
MARA Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>), Cantor Equity Partners Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEP#NASDAQ">CEP</a>), Riot Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>), and Galaxy Digital Holdings Ltd. (TSE: GLXY) follow MSTR in having the highest number of Bitcoins as a part of their assets.
Meanwhile, other experts think that Bitcoin prices are poised to rise. Citing Tom Lee, the head of research at Fundstrat, the Moon Show highlighted on X Friday the potential for Bitcoin&#8217;s network value to <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45463966/tom-lee-predicts-bitcoin-will-hit-1-5-million-in-10-years-calls-it-a-swiss-army-knife-of-money">equal that of gold</a>. 
Lee argued that Bitcoin&#8217;s versatility, acting as a risk-on asset in bull markets, combined with growing adoption, fuels network value and price appreciation.
Price Action: Shares of MSTR fell 4.73% on Thursday and rose 1.03% in premarket on Friday. The stock was up 32.34% on a year-to-date basis, and 175.72% higher over a year.
Benzinga Edge Stock Rankings shows that MSTR had a stronger price trend over the short, medium, and long term. Its momentum ranking was solid at the 97.50th percentile, while the value ranking was very poor. You can check the details of other metrics <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">over here</a>. 
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="148" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/16075705/EDGE-MSTR-1024x148.png" alt="" class="wp-image-917803" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/16075705/EDGE-MSTR-1024x148.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/16075705/EDGE-MSTR-300x43.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/16075705/EDGE-MSTR-768x111.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/16075705/EDGE-MSTR.png 1224w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, were higher in premarket on Friday. The SPY was up 0.29% to $592.20, while the QQQ advanced 0.34% to $521.01, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/general/market-summary/25/05/45464528/rocket-companies-soars-6-in-friday-premarket-as-activist-investor-valueact-reveals-new-position-calls-rkt-a-sleeping-giant-in-early-innings">Rocket Companies Soars 6% In Friday Premarket As Activist Investor ValueAct Reveals New Position, Calls RKT A &#8216;Sleeping Giant&#8217; In Early Innings </a></li>
</ul>
Photo Courtesy: creativeneko on Shutterstock

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$BTC

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RIOT

Ark Invest Takes Swipe At MSTR, MARA, Says 'Bitcoin Treasury Companies Don't Make Sense:' 'Funding Purchases With Debt...Seems Like A Recipe For Disaster'

Editor&#8217;s Note: This article has been updated to reflect the correct 2-year Treasury bond yield of 3.95%.
U.S. stock futures advanced on Friday after a mixed close on Thursday. Futures of major benchmark indices were trading higher in premarket.
The S&amp;P 500 index recorded its fourth day of gains on Thursday after turning positive for the year at the beginning of the week.
Jerome Powell, Federal Reserve Chair, indicated Thursday that the Fed is r<a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45439079/powell-signals-fed-may-shift-its-inflation-strategy-after-5-year-economic-shake-up">eassessing its inflation and employment strategies</a>, suggesting potential shifts in policy following a comprehensive review scheduled for 2025. 
"Participants have indicated that they thought it would be appropriate to reconsider the language around [labor market] shortfalls," Powell said, referring to how the Fed talks about employment in its official strategy.
Nasdaq dropped after continued positive momentum from <a href="https://www.benzinga.com/25/05/45462404/trump-unveils-over-200-billion-worth-of-deals-with-uae-including-major-etihad-airways-commitment">partnerships with the Middle East</a> during the U.S.-Saudi Investment Forum. 
Meanwhile, the 10-year Treasury bond yielded 4.40% and the two-year bond was at 3.95%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections show markets pricing a 91.8% likelihood of the Federal Reserve keeping the current interest rates unchanged in its June meeting.
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<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.33%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.23%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>0.23%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>0.40%</td>
</tr>
</tbody>
</table>
</figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, rose in premarket on Friday. The SPY was up 0.14% to $591.31, while the QQQ advanced 0.16% to $520.06, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Cues From Last Session:
Led by strong gains in utilities, consumer staples, and real estate, most sectors within the S&amp;P 500 finished Thursday in positive territory, contributing to the index&#8217;s fourth consecutive session of gains.
However, consumer discretionary and communication services stocks diverged from the broader market, ending the day lower.
Overall, the S&amp;P 500 has climbed approximately 4.5% week-to-date, followed by a roughly 2.6% increase for the Dow and a significant 6.6% rise for the Nasdaq.
Notably, tech giants like Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) have seen substantial weekly gains of around 15% each, with Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and 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>) also adding around 6% and 7%, respectively.
In other news, Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) reported stronger-than-anticipated first-quarter earnings, while Foot Locker Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FL#NYSE">FL</a>) shares surged around 86% following an agreement for acquisition by DICK&#8217;s Sporting Goods Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKS#NYSE">DKS</a>).
On the economic front, initial jobless claims remained steady, U.S. retail sales saw a modest 0.1% monthly increase in April, and U.S. producer prices unexpectedly declined by 0.5% in April.
The Dow Jones index advanced 272 points or 0.65% to 42,322.75, whereas the S&amp;P 500 index rose 0.41% to 5,916.93. Nasdaq Composite ended 0.18% lower at 19,112.32, and the small-cap gauge, Russell 2000, ended 0.52% higher at 2,094.69.
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<table class="has-fixed-layout">
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-0.18%</td>
<td>19,112.32</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.41%</td>
<td>5,916.93</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.65%</td>
<td>42,322.75</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>0.52%</td>
<td>2,094.69</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Ed Yardeni of Yardeni Research said in his QuickTakes note that Fed Chair Powell &#8220;poked a stick&#8221; at the White House following his speech on Thursday.
Yardeni pointed out that Powell implied that the bond yields might stay elevated as a result of more frequent &#8220;supply shocks,&#8221; like tariffs.
&#8220;Higher real rates may also reflect the possibility that inflation could be more volatile going forward than in the inter-crisis period of the 2010s,&#8221; Powell said in prepared remarks for the Thomas Laubach Research Conference in Washington, D.C.
Yardeni said, &#8220;Sounds like Powell is expecting more frequent bouts of stagflation, which was associated with supply shocks in the past.&#8221;
&#8220;The stock and bond markets didn&#8217;t react much to the speech partly because today&#8217;s batch of indicators were mostly ambiguous about the near-term prospects for stagflation,&#8221; he added.
As the PPI declined in April, Louis Navellier of Navellier &amp; Associates said, &#8220;The PPI demonstrated that despite recent trade chaos, wholesale prices are falling from lackluster economic activity and surplus goods that have been &#8216;dumped&#8217; in the U.S.&#8221;
Meanwhile, commenting on the declining PPI, Jamie Cox, the managing partner at Harris Financial Group, added, &#8220;If you are in the stagflation camp, these data aren't confirming your thesis. While growth is slowing, disinflation remains intact.&#8221;
Speaking about the S&amp;P 500 earnings so far, Navellier said, &#8220;Now that 90% of the companies in the S&amp;P 500 have announced their first quarter results, earnings are running at an 11.2% annual pace, which represents the seventh straight quarter of improving earnings growth.&#8221;
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How to Trade Futures</a> 
Upcoming Economic Data
Here&#8217;s what investors will keep an eye on Friday:
<ul class="wp-block-list">
<li>April&#8217;s import price index, housing starts, and building permit data will be released by 8:30 a.m. ET.</li>
</ul>
<ul class="wp-block-list">
<li>The preliminary consumer sentiment for May will be released by 10:00 a.m. ET.</li>
</ul>
Stocks In Focus:
<ul class="wp-block-list">
<li>Flowers Foods Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLO#NYSE">FLO</a>) fell 2.17% in premarket on Friday as analysts expect it to report quarterly earnings of 38 cents per share on revenue of $1.60 billion, before the opening bell.</li>
</ul>
<ul class="wp-block-list">
<li>Brady Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRC#NYSE">BRC</a>) rose 1.77% as Wall Street expects it to report earnings before the opening bell. It is expected to post earnings of $1.22 per share on revenue of $386.81 million.</li>
</ul>
<ul class="wp-block-list">
<li>RBC Bearings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBC#NYSE">RBC</a>) declined 0.56% as analysts expect it to report quarterly earnings of $2.70 per share on revenue of $440.26 million, before the opening bell.</li>
</ul>
<ul class="wp-block-list">
<li>Take-Two Interactive Software, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTWO#NASDAQ">TTWO</a>) fell 3.59% after the company guided for its first quarter net bookings to be in a range of $1.25 billion to $1.30 billion and full fiscal-year net bookings to be in a range of $5.90 billion to $6.00 billion.</li>
</ul>
<ul class="wp-block-list">
<li>Applied Materials Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>) dropped 6.19% after a mixed second quarter. The earnings per share were better than expected, while sales missed estimates.</li>
</ul>
<ul class="wp-block-list">
<li>WeRide Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WRD#NASDAQ">WRD</a>) was up 2.85% after launching a fully driverless robotaxi trial operation in Abu Dhabi.</li>
</ul>
<ul class="wp-block-list">
<li>Vistra Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>) jumped 5.41% after acquiring natural gas assets worth $1.9 billion.</li>
</ul>
<ul class="wp-block-list">
<li>Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) was 0.07% below flatline after the report of a delayed rollout for its AI model update.</li>
</ul>
<ul class="wp-block-list">
<li>Incannex Healthcare Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IXHL#NASDAQ">IXHL</a>) zoomed 68.98% after it finished administering doses to patients in the Phase 2 segment of its trial for Obstructive Sleep Apnea (OSA).</li>
</ul>
<ul class="wp-block-list">
<li>Origin Materials Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORGN#NASDAQ">ORGN</a>) slumped 30.80% after the company reported a year-over-year decrease in first-quarter financial results and cut its FY26 sales guidance below estimates.</li>
</ul>
Commodities, Gold, And Global Equity Markets:
Crude oil futures were trading lower in the early New York session by 0.19% to hover around $61.50 per barrel.
Gold Spot US Dollar fell 0.96% to hover around $3,208.84 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was lower by 0.19% at the 100.6880 level.
Asian markets ended lower on Friday except South Korea's Kospi and Australia's ASX 200 index. Japan's Nikkei 225, Hong Kong's Hang Seng, India's S&amp;P BSE Sensex, and China&#8217;s CSI 300 indices declined. European markets were higher in early trade.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/general/market-summary/25/05/45399940/warren-buffett-shows-how-patience-pays-98-of-his-160-billion-wealth-came-after-turning-65-thanks-the-power-of-compound-interest">Warren Buffett Shows How Patience Pays: 98% Of His $160 Billion Wealth Came After Turning 65, Thanks The Power Of &#8216;Compound Interest&#8217;</a></li>
</ul>
Photo: Shutterstock

Economics

Federal Reserve

AMAT

AMZN

GOOG

GOOGL

IXHL

NVDA

ORGN

TSLA

TTWO

Wall Street Poised To Open Higher After S&P 500's 4-Day Run: 'Sounds Like Powell Is Expecting More Frequent Bouts Of Stagflation,' Cautions Expert (CORRECTED)

As ValueAct Holdings, LP. buys a fresh stake in Rocket Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RKT#NYSE">RKT</a>), Andrew Left&#8216;s Citron Research endorses the move, calling the investment a &#8220;multi-year story.&#8221;
What Happened: The co-CEO and CIO of ValueAct, Mason Morfit, added 6.728 million shares worth $81.213 million to its portfolio during the first quarter, according to its 13F filings.
The company represented 1.8% of ValueAct&#8217;s total holdings as of the first quarter.
However, Rocket&#8217;s recent SEC filing dated May 15 showed that ValueAct held 15.125 million shares in the company, representing 9.9% of the total stake.
Citron Research cited this in an X post and lauded the co-CEO, Morfit, for being the &#8220;most strategic, long-term thinkers&#8221; and stating that he is one of the minds who reshaped Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) from the boardroom. 
&#8220;When someone like that sees $RKT as a compounder, it's not about quarterly noise—it's the start of a multi-year story,&#8221; said Citron&#8217;s post.
Highlighting Morfit&#8217;s comments, it added, &#8220;The CEO called Rocket a &#8216;sleeping giant&#8217; in its &#8216;early innings&#8217; yesterday,&#8221; the post added.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24RKT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$RKT</a> – Game on. ValueAct just filed a 10% stake. Mason Morfit isn't just any investor—he's the mind who reshaped Microsoft from the boardroom. Citron has been active on Wall Street for 25+ years, and Morfit remains one of the most strategic, long-term thinkers we've ever met.…
&mdash; Citron Research (@CitronResearch) <a href="https://twitter.com/CitronResearch/status/1923119403777786252?ref_src=twsrc%5Etfw">May 15, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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See Also: <a href="https://www.benzinga.com/general/market-summary/25/05/45399940/warren-buffett-shows-how-patience-pays-98-of-his-160-billion-wealth-came-after-turning-65-thanks-the-power-of-compound-interest">Warren Buffett Shows How Patience Pays: 98% Of His $160 Billion Wealth Came After Turning 65, Thanks The Power Of &#8216;Compound Interest&#8217;</a>
Why It Matters: Apart from Rocket Companies, ValueAct&#8217;s 13F filings showed 13 more companies that the firm held a stake in, after the first quarter. Here is a list of all its holdings.
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Holdings As Of Q1</td>
<td>Stake</td>
<td>Value (In Million)</td>
</tr>
<tr>
<td>Salesforce Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>)</td>
<td>17%</td>
<td>$777.84</td>
</tr>
<tr>
<td>Walt Disney Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>)</td>
<td>14%</td>
<td>$648.07</td>
</tr>
<tr>
<td>Insight Enterprises Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NSIT#NASDAQ">NSIT</a>)</td>
<td>13%</td>
<td>$609.22</td>
</tr>
<tr>
<td>Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)</td>
<td>13%</td>
<td>$584.93</td>
</tr>
<tr>
<td>Roblox Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>)</td>
<td>11%</td>
<td>$510.91</td>
</tr>
<tr>
<td>Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>)</td>
<td>10%</td>
<td>$460.14</td>
</tr>
<tr>
<td>Liberty Media Corp. Series C (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LLYVK#NASDAQ">LLYVK</a>)</td>
<td>5.80%</td>
<td>$266.01</td>
</tr>
<tr>
<td>Expedia Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>)</td>
<td>4.10%</td>
<td>$187.79</td>
</tr>
<tr>
<td>Live Nation Entertainment Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>)</td>
<td>2.50%</td>
<td>$115.60</td>
</tr>
<tr>
<td>Liberty Media Corp. Series A (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LLYVA#NASDAQ">LLYVA</a>)</td>
<td>2.40%</td>
<td>$111.53</td>
</tr>
<tr>
<td>Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)</td>
<td>2.30%</td>
<td>$107.14</td>
</tr>
<tr>
<td>Toast Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOST#NYSE">TOST</a>)</td>
<td>1.90%</td>
<td>$86.15</td>
</tr>
<tr>
<td>Rocket Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RKT#NYSE">RKT</a>)</td>
<td>1.80%</td>
<td>$81.21</td>
</tr>
<tr>
<td>Nu Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NU#NYSE">NU</a>)</td>
<td>0.80%</td>
<td>$34.98</td>
</tr>
</tbody>
</table>
</figure>
Price Action: Shares of RKT rose 1.35% on Thursday. The stock was up 17.70% on a year-to-date basis, but 8% lower over a year. It was trading nearly 6% higher during the premarket session on Friday.
Benzinga Edge Stock Rankings shows that RKT had a stronger price trend over the short and the medium term but a weaker trend over the long term. Its momentum ranking was moderate at the 37.21th percentile. You can check the details of other metrics <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">over here</a>. 
<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="147" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/16064327/RKT-EDGE-1024x147.png" alt="" class="wp-image-917733" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/16064327/RKT-EDGE-1024x147.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/16064327/RKT-EDGE-300x43.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/16064327/RKT-EDGE-768x110.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/16064327/RKT-EDGE.png 1219w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, were higher in premarket on Friday. The SPY was up 0.24% to $591.85, while the QQQ advanced 0.24% to $520.50, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/general/market-summary/25/05/45461488/walmart-e-commerce-turns-profitable-for-the-first-time-despite-reduced-tariffs-ceo-says-full-impact-cant-be-absorbed-price-hikes-likely">Walmart E-Commerce Turns Profitable For The First Time: Despite Reduced Tariffs, CEO Says Full Impact Can&#8217;t Be Absorbed, Price Hikes Likely</a></li>
</ul>
Image Via Shutterstock

Hedge Funds

EXPE

LLYVA

LLYVK

MSFT

NSIT

RBLX

TOST

Rocket Companies Soars 6% In Friday Premarket As Activist Investor ValueAct Reveals New Position, Calls RKT A 'Sleeping Giant' In Early Innings

Mediterranean fast-casual chain CAVA Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAVA#NYSE">CAVA</a>) is confidently progressing towards its ambitious goal of operating 1,000 restaurants by 2032, the company announced during its first-quarter 2025 earnings call.
What Happened: Despite broader economic uncertainties and potential headwinds, CEO Brett Schulman emphasized the brand&#8217;s strong momentum and reaffirmed its long-term strategic vision.
&#8220;We are well on our way to our goal of at least 1,000 restaurants by 2032, creating more spaces where connection, community, and Mediterranean hospitality can thrive,&#8221; Schulman stated during the call.
This expansion is being fueled by a robust first quarter, which saw a healthy 10.8% growth in same-restaurant sales, driven by a significant 7.5% rise in traffic.
The company also opened 15 new restaurants in the quarter, bringing its total count to 382.
Adding to investor confidence, Schulman addressed concerns regarding the potential impact of Donald Trump&#8216;s tariffs on the company&#8217;s supply chain. &#8220;That said, our exposure remains limited based on the current policies, which are fluid, given that the majority of our ingredients are domestically sourced or covered under existing contracts,&#8221; he added.
CAVA also celebrated surpassing $1 billion in revenue on a trailing 12-month basis, a significant milestone highlighting its leadership in the category. &#8220;A milestone that is a testament to Mediterranean becoming the next large-scale cultural cuisine category, a category we have firmly established our leadership in,&#8221; Schulman noted.
The company also highlighted the success of its reimagined loyalty program, which has seen sales through the program increase by 340 basis points as a percentage of total revenue, with membership approaching 8 million.
See Also: <a href="https://www.benzinga.com/general/market-summary/25/05/45399940/warren-buffett-shows-how-patience-pays-98-of-his-160-billion-wealth-came-after-turning-65-thanks-the-power-of-compound-interest">Warren Buffett Shows How Patience Pays: 98% Of His $160 Billion Wealth Came After Turning 65, Thanks The Power Of &#8216;Compound Interest&#8217;</a>
Why It Matters: The Mediterranean fast-casual restaurant chain company&#8217;s <a href="https://www.benzinga.com/general/restaurants/25/05/45453995/cava-group-reports-q1-earnings-revenue-jumps-28-company-bumps-up-new-restaurant-openings-guidance">first-quarter revenue</a> increased 28.2% year-over-year to $331.83 million, beating the consensus estimate of $326.88 million, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
It also reported first-quarter adjusted earnings of 22 cents per share, beating analyst estimates of 14 cents per share.
CAVA maintains its previous forecast for full-year same-restaurant sales growth at 6% to 8%, while increasing its new restaurant opening projections for the year to between 64 and 68, up from the prior range of 62 to 66.
Shares of CAVA fell 0.48% on Thursday. The stock was down 14% on a year-to-date basis, but 28.12% higher over a year.
Benzinga Edge Stock Rankings shows that CAVA had a stronger price trend over the short term but a weaker trend over the medium and long term. Its momentum ranking was moderate at the 46.27th percentile, whereas its value ranking was poor at the 8.76th percentile; the details of other metrics are <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here</a>. 
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/CAVA"><img loading="lazy" decoding="async" width="1024" height="145" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/16024411/CAVA-EDGE-1024x145.png" alt="" class="wp-image-917501" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/16024411/CAVA-EDGE-1024x145.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/16024411/CAVA-EDGE-300x42.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/16024411/CAVA-EDGE-768x109.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/16024411/CAVA-EDGE.png 1210w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, were higher on Thursday. The SPY was up 0.49% to $590.46, while the QQQ advanced 0.11% to $519.25, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45399783/gordon-johnson-warns-of-potential-liberation-day-20-as-30-year-treasury-yields-approach-5-amid-dollar-weakness">Gordon Johnson Warns Of Potential &#8216;Liberation Day 2.0&#8217; As 30-Year Treasury Yields Approach 5% Amid Dollar Weakness</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 of CAVA

Earnings

Earnings Beats

Guidance

CAVA

CAVA On Track With Ambitious Expansion Plans Of Having 1,000 Restaurants By 2032: Trump Tariff 'Exposure Remains Limited,' Says CEO

Multinational retailer Walmart Inc.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) e-commerce businesses turned profitable for the first time in the U.S. and globally during the first quarter of the ongoing fiscal year despite looming tariff uncertainties.
What Happened: CEO Doug McMillon expressed optimism over the company&#8217;s e-commerce initiatives during the earnings call and highlighted that it&#8217;s not only serving its customers and members but also making their business more profitable with higher returns over time.
&#8220;We achieved eCommerce profitability, both in the U.S. as well as for the global enterprise in Q1 for the first time, an important milestone for our company,&#8221; he said.
Globally, Walmart&#8217;s e-commerce business grew by 22%, with each segment delivering growth of at least 20%.
The three segments of its e-commerce businesses encompassed growth from Walmart U.S., Walmart International, and its Sam&#8217;s Club U.S. businesses.
&#8220;We&#8217;re encouraged by the fact that eCommerce growth across all three segments continues to be strong, all three segments growing more than 20%,&#8221; added McMillon.
Meanwhile, while addressing the tariff issue, he thanked President Donald Trump and Treasury Secretary Scott Bessent for the progress made recently. He hoped for a longer-term agreement with China amid the ongoing 90-day pause.
However, he added that &#8220;We will do our best to keep our prices as low as possible. But given the magnitude of the tariffs, even at the reduced levels announced this week, we aren&#8217;t able to absorb all the pressure given the reality of narrow retail margins.&#8221;
&#8220;All of the tariffs create cost pressure for us, but the larger tariffs on China have the biggest impact,&#8221; explained McMillon.
See Also: <a href="https://www.benzinga.com/general/market-summary/25/05/45399940/warren-buffett-shows-how-patience-pays-98-of-his-160-billion-wealth-came-after-turning-65-thanks-the-power-of-compound-interest">Warren Buffett Shows How Patience Pays: 98% Of His $160 Billion Wealth Came After Turning 65, Thanks The Power Of &#8216;Compound Interest&#8217;</a>
Why It Matters: Walmart&#8217;s <a href="https://www.benzinga.com/news/earnings/25/05/45436534/walmart-doesnt-alter-annual-outlook-yet-ceo-says-all-tariffs-create-cost-pressures-but-china-has-biggest-impact">first-quarter revenue</a> marginally missed the analyst consensus estimate of $165.88 billion and came in at $165.60 billion, higher by 2.5% year-on-year.
It reported adjusted EPS of 61 cents, beating the consensus estimate of 58 cents.
Walmart anticipates second-quarter fiscal year 2026 sales to increase by 3.5% to 4.5% on a constant currency basis, projecting revenues between $173.67 billion and $175.35 billion. This range falls slightly below the consensus estimate of $175.21 billion.
Shares of WMT fell 0.50% on Thursday. However, the stock was up 7.06% on a year-to-date basis and 50.52% higher over a year.
Benzinga Edge Stock Rankings shows that WMT had a stronger price trend over the short, medium, and long term. Its momentum ranking was solid at the 92.66th percentile, whereas its value ranking was moderate at the 46.64th percentile; the details of other metrics are <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here</a>. 
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="145" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/16022458/WMT-EDGE-1024x145.png" alt="" class="wp-image-917474" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/16022458/WMT-EDGE-1024x145.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/16022458/WMT-EDGE-300x43.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/16022458/WMT-EDGE-768x109.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/16022458/WMT-EDGE.png 1227w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, were higher on Thursday. The SPY was up 0.49% to $590.46, while the QQQ advanced 0.11% to $519.25, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
On Friday, the futures of the S&amp;P 500, Dow Jones and Nasdaq 100 indices were trading flat. 
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45399783/gordon-johnson-warns-of-potential-liberation-day-20-as-30-year-treasury-yields-approach-5-amid-dollar-weakness">Gordon Johnson Warns Of Potential &#8216;Liberation Day 2.0&#8217; As 30-Year Treasury Yields Approach 5% Amid Dollar Weakness</a></li>
</ul>
image via shutterstock

Earnings Misses

Walmart E-Commerce Turns Profitable For The First Time: Despite Reduced Tariffs, CEO Says Full Impact Can't Be Absorbed, Price Hikes Likely

A trade war between China and the United States, involving President Donald Trump&#8217;s higher tariff prices, could be hurting the nation&#8217;s favorability rating. 
A new survey shows that net favorability for China has surpassed the United States for the first time since polling began in 2020.
What Happened: A new Morning Consult poll shows China ranking ahead of the U.S. for net favorability as of early April, <a href="https://www.benzinga.com/news/global/25/04/44620889/trumps-liberation-day-tariffs-roil-markets-as-china-slams-typical-unilateral-bullying-asian-markets-plunge">when </a><a href="https://www.benzinga.com/news/global/25/04/44620889/trumps-liberation-day-tariffs-roil-markets-as-china-slams-typical-unilateral-bullying-asian-markets-plunge" target="_blank" rel="noopener">Trump announced the </a>so-called Liberation Day, declaring tariff amounts on numerous countries worldwide. According to recent surveys, net favorability ratings have remained with China ahead for the month of April.
Morning Consult has <a href="https://pro.morningconsult.com/analysis/us-china-global-standing-competition">polled </a>residents in dozens of countries, 41 in the latest survey, over the years.
Countries included in the core data since 2020 include the United States, China, Australia, Brazil, Canada, France, Germany, India, Italy, Japan, Mexico, Russia, South Korea, Spain and the United Kingdom. Ratings from a person's own country are removed from the rankings.
A <a href="https://x.com/cameron_easley/status/1922645080826847484" target="_blank" rel="noopener">chart </a>shows that the gap between China and the U.S. has increased since the 2024 election. This suggests that Trump&#8217;s win may have increased negative views of the U.S. by residents of other countries and/or China&#8217;s favorable ratings may have improved over the same period.
Trump's inauguration and quick tariff announcements worsened the United States&#8217; favorability rating.
At the start of 2025, 29 of the 41 core countries in the survey viewed the U.S. as more favorable than China. As of April 30, only 13 of the 41 countries favor the United States over China.
The net favorability rating for the United States appears to have improved after the recent 90-day reciprocal tariff pause between China and America, which will be closely monitored going forward to see if the U.S. can repass China.
Read Also:<a href="https://www.benzinga.com/trading-ideas/25/05/45144516/trump-a-grinch-or-santa-for-christmas-children-will-have-two-dolls-instead-of-30-dolls"> Trump A Grinch Or Santa For Christmas? &#8216;Children Will Have Two Dolls Instead Of 30 Dolls&#8217;</a>
 Why It's Important: Trump's approval rating has fallen in many polls in 2025, including a<a href="https://www.benzinga.com/25/05/45256510/exclusive-trumps-approval-rating-drops-in-reader-survey-after-100-days-could-stock-market-be-to-blame"> Benzinga reader poll</a> showing his approval rating at the 100-day mark lower than it was during his first 52 days in office.
One factor that could be hurting Trump's approval ratings and the country&#8217;s net favorability rating is the stock market returns, which have been impacted by tariffs.
The stock market indexes and stocks have fallen on tariff news, while items like the 90-day pause announcement have sent shares higher and put the S&amp;P 500 back in the green in 2025.
Trump's first 100 days in office saw the worst return for the S&amp;P 500 at the start of a four-year term since Richard Nixon in 1973. The S&amp;P 500 was down 7.8% in Trump's first 100 days, trailing the 9.9% drop in Nixon's first 100 days.
For comparison, the S&amp;P 500 has an average return of 2.1% in the first 100 days of a presidency, dating back to 1944.
While U.S. stocks have been hurt in 2025, Chinese stocks and ETFs have mostly outperformed.
Here's a look at the year-to-date returns of some of the top Chinese ETFs by assets under management:
<ul class="wp-block-list">
<li>KraneShares Trust China Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KWEB#NYSE">KWEB</a>): +19.3%</li>
<li>iShares China Large-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXI#NYSE">FXI</a>): +19.6%</li>
<li>iShares MSCI China ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHI#NASDAQ">MCHI</a>): +18.5%</li>
</ul>
Compare that to 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 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which are up 0.9% and 1.6%, respectively, on a year-to-date basis.
While stock market performance is only one factor, it would appear that the new presidency and tariffs are among the reasons other countries view the United States less favorably than China.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/04/45069781/trumps-first-100-days-what-he-delivered-where-he-fell-short-how-markets-reacted">Trump&#8217;s First 100 Days: What He Delivered, Where He Fell Short, How Markets Reacted</a></li>
</ul>
Photo: Shutterstock

Politics

Global

KWEB

MCHI

China Tops US In Global Favorability After 'Liberation Day,'  Trump Tariffs Blamed For International Image Slide

U.S. stocks traded mixed Thursday, with major indices posting timid midday gains as investors digested fresh economic data revealing signs of consumer strain and disinflationary pressure stemming <a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45435725/tariffs-slow-retail-spending-as-producer-prices-post-sharpest-drop-since-2020">from April's tariff escalation.</a>
Retail sales rose just 0.1% in April, slightly above flat expectations, but core retail sales—a category tied more closely to GDP—fell 0.3%, signaling weakening underlying consumption.
Producer prices contracted by 0.5% month-over-month, defying forecasts for an increase and marking the steepest drop since April 2020. 
Defensive sectors outperformed, with consumer staples and utilities leading gains, reflecting a cautious market tone.
In tech, semiconductor stocks—tracked by the iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>)—edged down 0.4%, pulling back after a three-day rally sparked by the U.S.-China trade truce.
Oil prices slid 2.2%, with WTI light crude falling to $61 per barrel. Gold climbed 1.4% to above $3,200 per ounce, paring weekly losses amid renewed demand for inflation hedges.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was little changed, hovering around $103,436, continuing to trade in a narrow range since last Friday.
<h3 class="wp-block-heading">Thursday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Major Indices </td>
<td>Price</td>
<td>1-day %Chg</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,914.04</td>
<td>+0.3%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,202.33</td>
<td>+0.3%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>21,392.27</td>
<td>+0.3%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,088.09</td>
<td>+0.2%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated by 12:45 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul class="wp-block-list">
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) inched 0.3% up to $589.95.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 0.4% to $422.17.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;rose 0.5% to $471.29.</li>
<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.3% to $207.50.</li>
<li>The&nbsp;Utilities&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) outperformed, up 1.5%; the&nbsp;Energy&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down 0.5%.</li>
</ul>
<h3 class="wp-block-heading">Thursday&#8217;s Stock Movers</h3>
<ul class="wp-block-list">
<li>UnitedHealth Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) plunged more than 15% following reports that the Justice Department is conducting a criminal investigation into possible Medicare fraud involving the company. The company&#8217;s shares slump since April 15 has now extended to 56%, marking the worst 21-session drop in the company&#8217;s history.</li>
<li>Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) eased 0.5%, despite beating quarterly earnings estimates as the retail giant warned about higher prices later this month due to tariffs.</li>
<li>Cisco Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) soared nearly 6% after smashing earnings estimates in Q1. </li>
<li>Dicks Sporting Goods Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKS#NYSE">DKS</a>) sunk 15% after announcing the acquisition of Foot Locker Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FL#NYSE">FL</a>) for an equity value of $2.4 billion. Shares of Foot Locker Inc. skyrocketed 85%, recording their biggest one-day rise since the company went public in 1968. </li>
<li>Companies slated to report earnings after the close are Applied Materials Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>) and Take Two Interactive Software Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTWO#NASDAQ">TTWO</a>)</li>
</ul>
Read Next:
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Wall Street Wavers As UNH Tumbles, Foot Locker Soars: What's Driving Markets Thursday?

WIIM

Major indexes are higher after April PPI figures came in softer than expected.

CNBC&#8217;s Jim Cramer sounded the alarm for Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) on Thursday, warning that the tech giant &#8220;will hurt&#8221; as President Donald Trump ramps up pressure on CEO Tim Cook to halt iPhone production in India and bring manufacturing back to the United States.
What Happened: In a post on X, Cramer highlighted the challenges Apple faces in India due to Trump&#8217;s trade policies, stating, &#8220;President Trump making it tough for Apple in India…&#8221;
Adding that it would be &#8220;Tiresome but will hurt….&#8221; the iPhone maker.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">President Trump making it tough for Apple in India&#8230; But who else is selling all tech? Which firm downgraded tech? I hope this isn&#39;t just another billionaire&#39;s comment (this time the Mets owner?). Tiresome but will hurt&#8230;.
&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1922948424296472815?ref_src=twsrc%5Etfw">May 15, 2025</a></blockquote>
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Cramer's comments come amid broader concerns about the tech sector, with <a href="https://www.truist.com/wealth/insights/market-navigator/mn-6">Truist downgrading tech stocks</a> due to overperformance by companies like Apple, Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), and Google&#8217;s parent 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>). 
The pressure on Apple intensified as Trump directly told Cook, &#8220;I don't want you building over there. I want you building here in the United States,&#8221; according to a <a href="https://www.cnbc.com/2025/05/15/trump-told-tim-cook-he-doesnt-want-apple-building-iphones-in-india.html">report</a> from CNBC. 
Trump's directive aligns with his broader push to bolster U.S. manufacturing, a cornerstone of his trade agenda. 
His administration has imposed steep tariffs on imports, including a 26% tariff on Indian imports, which is currently on hold for 90 days as of April 2025.
These tariffs have already forced Apple to <a href="https://www.benzinga.com/25/04/44706383/apple-airlifts-iphones-from-india-and-china-in-72-hour-race-to-beat-trumps-tariffs-as-stock-sinks-amid-us-china-trade-panic">airlift 600 tons of iPhones</a>—approximately 1.5 million units—from India to the U.S. to mitigate rising costs. 
See Also: <a href="https://www.benzinga.com/general/market-summary/25/05/45399940/warren-buffett-shows-how-patience-pays-98-of-his-160-billion-wealth-came-after-turning-65-thanks-the-power-of-compound-interest">Warren Buffett Shows How Patience Pays: 98% Of His $160 Billion Wealth Came After Turning 65, Thanks The Power Of &#8216;Compound Interest&#8217;</a>
Why It Matters: This comes after Apple announced its plans to import <a href="https://www.benzinga.com/25/04/45014074/apple-plans-iphone-shift-from-china-to-india-amid-tariff-pressures-geopolitical-risks">most U.S. iPhones from India</a> by 2026, doubling India output to over 80M units. 
"I had a little problem with Tim Cook yesterday," Trump said. "I said to him, ‘my friend, I treated you very good. You're coming here with $500 billion, but now I hear you're building all over India.' I don't want you building in India.&#8221;
The <a href="https://www.benzinga.com/government/regulations/25/02/43912631/apple-forced-to-kiss-the-ring-expert-questions-whether-trump-pushed-the-iphone-maker-for-500-billion-investment">$500 billion investment</a> by Apple in the U.S. was announced in February, with a timeline of four years. Apple aims to double the U.S. Advanced Manufacturing Fund, including silicon production in Arizona, and intends to start a manufacturing academy in Michigan. &#8211;
Price Action: Shares of Apple fell 0.28% on Wednesday and declined 1.01% in pre-market trading on Thursday. The stock was down 2.93% on a year-to-date basis and up 11.92% over a year.
Benzinga Edge Stock Rankings shows that AAPL had a stronger price trend over the short term but a weak trend over the medium and long term. Its momentum ranking was moderate at the 61.99th percentile, whereas its value ranking was poor at the 8.02th percentile; the details of other metrics are <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here</a>.
<figure class="wp-block-image size-large"><a href=" https://www.benzinga.com/quote/AAPL"><img loading="lazy" decoding="async" width="1024" height="145" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/15075407/EDGE-AAPL-1024x145.png" alt="" class="wp-image-916372" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/15075407/EDGE-AAPL-1024x145.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/15075407/EDGE-AAPL-300x42.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/15075407/EDGE-AAPL-768x109.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/15075407/EDGE-AAPL.png 1210w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></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, fell in premarket on Thursday. The SPY was down 0.43% to $585.06, while the QQQ declined 0.55% to $515.82, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45433051/jim-cramer-says-gulf-countries-will-become-the-largest-hyperscalers-in-the-world-following-ai-deals">Jim Cramer Says Gulf Countries Will Become &#8216;Largest Hyperscalers In The World&#8217; After Nvidia&#8217;s 18,000 Blackwell Chip Deal</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Photo: Shutterstock

AAPL

Jim Cramer Says This 'Will Hurt' Apple: 'President Trump Making It Tough...'

CNBC&#8217;s Jim Cramer lauded the artificial intelligence deals announced after the U.S.-Saudi Investment Forum and touted Gulf countries to be future hyperscalers.
What Happened: According to an X post by Cramer, he said, &#8220;I am convinced that the Gulf countries will, when put together, become one of the largest hyperscalers in the world.&#8221;
This followed a slew of major deals, including Nvidia Corp.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) agreement to <a href="https://www.benzinga.com/markets/25/05/45397196/jensen-huangs-wealth-surges-37-since-liberation-day-lows-as-nvidia-re-enters-3-trillion-market-cap-club-on-saudi-chip-pact">supply 18,000 GB300 Blackwell chips</a> to Saudi-based AI startup Humain, backed by the nation&#8217;s sovereign wealth fund. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">After listening to all of last night&#39;s calls i am convinced that the Gulf countries will, when put together, become one of the largest hyperscalers in the world.
&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1922933601470996924?ref_src=twsrc%5Etfw">May 15, 2025</a></blockquote>
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Apart from Cramer, Wedbush Analyst Daniel Ives <a href="https://www.benzinga.com/government/regulations/25/05/45403100/bullish-for-nvidia-tesla-palantir-microsoft-alphabet-amazon-ai-revolution-is-coming-to-the-saudi-kingdom-says-wedbushs-dan-ives">also hailed the deals</a> on Wednesday, calling it the &#8220;AI revolution&#8221; in the Middle East. 
Ives said in a series of X posts that "the AI Revolution is coming to the Saudi Kingdom and Riyadh will be a major buyer of AI chips, software, autonomous/robotics, datacenters over the next decade."
He also placed his bullish bets on Nvidia, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>), Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), 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>), and Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) after the deals were made.
"Bullish for Nvidia, Tesla, Palantir, Microsoft, Alphabet, Amazon. Just starting," he added.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The theme was clear in Riyadh&#8230;the AI Revolution is coming to the Saudi Kingdom and Riyadh will be a major buyer of AI chips, software, autonomous/robotics, datacenters over the next decade. Bullish for Nvidia, Tesla, Palantir, Microsoft, Alphabet, Amazon. Just starting &#x1f3c6;&#x1f525;&#x1f402;
&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1922591983027020045?ref_src=twsrc%5Etfw">May 14, 2025</a></blockquote>
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"This is all part of a regional focus in the Middle East building out datacenters and the AI Revolution which will start to vault UAE, Saudi, Qatar to the priority list for US tech companies. Adds major TAM to AI Revolution," he said.
See Also:<a href="https://www.benzinga.com/government/regulations/25/05/45403100/bullish-for-nvidia-tesla-palantir-microsoft-alphabet-amazon-ai-revolution-is-coming-to-the-saudi-kingdom-says-wedbushs-dan-ives"> &#8216;Bullish For Nvidia, Tesla, Palantir, Microsoft, Alphabet, Amazon:&#8217; AI &#8216;Revolution Is Coming&#8217; To The Saudi Kingdom, Says Wedbush&#8217;s Dan Ives</a>
Why It Matters: Amazon‘s Amazon Web Services and Humain also disclosed a <a href="https://www.benzinga.com/news/large-cap/25/05/45405067/saudi-arabia-bets-big-on-ai-teams-up-with-aws-and-nvidia">strategic $5 billion investment</a> in establishing a pioneering "AI Zone" in the Kingdom.
Saudi-based Humain intends to create AI solutions for its customers using AWS technologies through this partnership.
Nvidia also highlighted its <a href="https://www.benzinga.com/pressreleases/25/05/g45387809/saudi-arabia-and-nvidia-to-build-ai-factories-to-power-next-wave-of-intelligence-for-the-age-of-re">partnership in Riyadh</a> to establish the Kingdom as a global leader in AI, cloud computing, enterprise solutions, digital twins, and robotics. &#8212;
This also paved the way for Nvidia&#8217;s GB300 Grace Blackwell chips, which will enter the Middle East through these deals. This is after the U.S. curbed the supply of advanced Nvidia chips to China earlier this year.
&#8220;It also speaks to this global game of high stakes poker being played by the Trump Admin as while China is getting blockades from Nvidia&#8217;s older H20 chip slowing down the AI buildout in Beijing, on the contrary Saudi getting the best Nvidia next generation chips red carpet rollout,&#8221; said Ives in an X post.
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, fell in premarket on Thursday. The SPY was down 0.45% to $584.92, while the QQQ declined 0.58% to $515.65, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Read Next:
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<li><a href="https://www.benzinga.com/general/market-summary/25/05/45399940/warren-buffett-shows-how-patience-pays-98-of-his-160-billion-wealth-came-after-turning-65-thanks-the-power-of-compound-interest">Warren Buffett Shows How Patience Pays: 98% Of His $160 Billion Wealth Came After Turning 65, Thanks The Power Of &#8216;Compound Interest&#8217;</a></li>
</ul>
Photo: Shutterstock

Tech

PLTR

Jim Cramer Says Gulf Countries Will Become 'Largest Hyperscalers In The World' After Nvidia's 18,000 Blackwell Chip Deal

Tom Lee, co-founder and research head at&nbsp;Fundstrat Global Advisors, expressed optimism about the current market scenario, notwithstanding the recent volatility.
What Happened: Lee identified&nbsp;key indicators suggesting that the&nbsp;worst market decline may have passed and predicted a significant upside for stocks by 2026.&nbsp;On the Global Money Talk podcast on Tuesday, he emphasized that&nbsp;the recovery of 50% of&nbsp;the market&#8217;s losses, which took place the previous Friday, is a strong indication&nbsp;that the market may have&nbsp;reached its lowest point. 
He also observed that the high-yield bond market, a leading indicator for equities, has recovered 50% of its losses, further reinforcing the possibility of a stock market rebound. Lee advised investors to steer clear of decisions based on daily news cycles and instead concentrate on the potential for 2026 earnings to surpass expectations.
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Despite the ongoing tariff war, Lee is confident that the U.S.&#8217;s&nbsp;potential for upside in exports,&nbsp;deregulation, and tax policy incentives could propel&nbsp;earnings growth and price-to-earnings (P/E)&nbsp;multiple expansion, creating a favorable&nbsp;environment for stocks.
Lee also mentioned that a trade-related recession is already in progress, but it is unlikely to instigate a full-blown U.S. recession unless paired with a significant shock. He dismissed the calls for a full-blown imminent recession and stated, &#8220;..for someone to be so confident that we're going to have a recession, I think they're dead wrong.&#8221; He also notes that many economists frequently struggle to accurately identify when recessions are actually occurring. &#8220;In my 30 years, I've never seen an economist get the recession right,&#8221; added Lee.
He keeps a close eye on&nbsp;the high-yield bond market, where&nbsp;spreads currently sit at 367 basis points—well&nbsp;below the 1,000 basis points&nbsp;that typically indicate an imminent recession. Lee also highlighted the $7 trillion in cash sitting on the sidelines.
SEE ALSO:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/05/45426516/chuck-schumer-says-trump-is-letting-cartel-members-into-the-us-asks-how-much-memecoin-did-" target="_blank" rel="noreferrer noopener">Chuck Schumer Says Trump Is &#8216;Letting Cartel Members&#8217; Into The US, Asks How Much &#8216;Memecoin&#8217; Did They Pay</a>
Why It Matters: Lee&#8217;s optimism comes after he previously <a href="https://www.benzinga.com/markets/25/04/44685594/tom-lee-predicts-a-v-shaped-recovery-for-us-stocks-pins-hope-on-trump-put-its-going-to-take-a-little-time">underestimated </a>the impact of tariffs on the market, which he likened to a &#8220;heart attack&#8221; for both the stock market and the broader economy. He predicted a V-shaped recovery and later urged Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick to expedite trade deals for a positive &#8220;policy shock&#8221; to the stock markets.
Lee&#8217;s current outlook aligns with major brokerages such as Goldman Sachs, Barclays and J.P. Morgan, who have revised their U.S. recession forecasts <a href="https://www.benzinga.com/markets/25/05/45401678/goldman-sachs-barclays-jpm-walk-back-us-recession-forecasts-after-90-day-us-china-tariff-truce-fewer-fed-cuts-expected-in-2025">following </a>a 90-day tariff truce between the U.S. and China. Meanwhile, analysts like Jim Cramer believe that a &#8220;steady drip of trade deals&#8221; is essential for strengthening the market and easing recession concerns.
Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) soared more than 13%, while SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) surged 9.30% over the past month.
<ul class="wp-block-list">
<li>READ MORE:&nbsp;<a href="https://benzinga.com/news/25/05/45314762/charlie-munger-was-once-asked-why-warren-buffett-was-so-much-richer-and-replied-he-got-an-earlier-start-before-adding-why-was-albert-einstein-poorer-than-i-was" target="_blank" rel="noreferrer noopener">Charlie Munger Was Once Asked Why Warren Buffett Was So Much Richer — He Replied, &#8216;He Got An Earlier Start,&#8217; Then Added, &#8216;Why Was Albert Einstein Poorer Than I Was?&#8217; &#8211; Benzinga</a></li>
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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.

Fundstrat's Tom Lee Says Economists Predicting A Recession With Certainty Are 'Dead Wrong': 'In My 30 Years, I've Never Seen...'

CoreWeave Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWV#NASDAQ">CRWV</a>), a cloud platform purpose-built for artificial intelligence workloads, has announced a leap in its technological leadership, becoming the first to deploy Nvidia Corp.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) cutting-edge GB200 Grace Blackwell systems at scale during the first quarter of 2025.
What Happened: This milestone, revealed in the company&#8217;s inaugural earnings call as a public entity following its March IPO, underscores CoreWeave&#8217;s commitment to providing the most advanced infrastructure for AI innovation.
This strategic acquisition significantly expands CoreWeave&#8217;s reach within the AI ecosystem and positions it as a comprehensive solution provider for AI development, from infrastructure to developer tools.
&#8220;We are off to an amazing start in 2025,&#8221; said Michael Intrator, CEO of CoreWeave. &#8220;Our financial performance combined with the continued strong trajectory of customer growth and technical achievements demonstrate outstanding execution by our team. Being the first to deploy GB200 Grace Blackwell systems at scale underscores our commitment to delivering superior performance and efficiency to our customers.&#8221;
The deployment of Nvidia&#8217;s GB200 NVL72 instances at scale on CoreWeave&#8217;s AI cloud platform supports leading AI developers such as Mistral AI, IBM, and Cohere, enabling them to push the boundaries of AI model training and inference.
Adding to the impressive first-quarter achievements, CoreWeave also completed its acquisition of Weights &amp; Biases, a leading platform for AI developers.
&#8220;We announced and completed our acquisition of Weights &amp; Biases, one of the industry&#8217;s leading platforms for AI developers with more than 1,400 customers. We are confident our combined companies will allow us to provide additional value to our joint customer base,&#8221; CEO Intrator added.
See Also:<a href="https://www.benzinga.com/general/market-summary/25/05/45399940/warren-buffett-shows-how-patience-pays-98-of-his-160-billion-wealth-came-after-turning-65-"> Warren Buffett Shows How Patience Pays: 98% Of His $160 Billion Wealth Came After Turning 65, Thanks The Power Of &#8216;Compound Interest&#8217;</a>
Why It Matters: The first-quarter revenue of $981.63 million was up 420% year-on-year, beating analyst estimates of $859.77 million, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. The company <a href="https://www.benzinga.com/news/earnings/25/05/45421041/nvidia-backed-coreweave-reports-q1-earnings-revenue-jumps-420-backlog-grows-to-25-9-billion-following-openai-deal-shares-hit-all-time-highs">reported a first-quarter</a> adjusted loss of $1.49 per share. 
CNBC&#8217;s Jim Cramer also praised the robust earnings from CoreWeave in an X post.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Phew, you know liked that Coreweave but even I am blown away by that growth.. Cisco, once again, very solid !!
&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1922751843001663637?ref_src=twsrc%5Etfw">May 14, 2025</a></blockquote>
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Looking ahead, CoreWeave provided strong guidance for the second quarter, projecting revenue in the range of $1.06 billion to $1.1 billion. The company also raised its full-year 2025 revenue guidance to $4.9 billion to $5.1 billion, reflecting the strong demand and the inclusion of the backlog from the OpenAI contract.
Price Action: CRWV shares ended 6.64% higher on Wednesday and dropped 6.2% during the premarket trading. The company has advanced 68.65% since its listing in March.
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, ended higher on Wednesday. The SPY was up 0.13% to $587.59, while the QQQ advanced 0.60% to $518.68, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Benzinga Edge Stock Rankings shows that CRWV had a stronger price trend over the short, medium, and long term. Its value ranking was poor at the 13.86th percentile; the details of other metrics are <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here</a>. 
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/CRWV"><img loading="lazy" decoding="async" width="1024" height="149" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/15032023/CRWV-edge-1024x149.png" alt="" class="wp-image-916056" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/15032023/CRWV-edge-1024x149.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/15032023/CRWV-edge-300x44.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/15032023/CRWV-edge-768x112.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/15032023/CRWV-edge.png 1237w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
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<li><a href="https://www.benzinga.com/25/05/45429266/solar-security-alert-communication-devices-discovered-in-chinese-inverters-heres-the-stocks-that-could-be-affecte">DOE Warns Of Hidden Risks As Chinese Devices In Power Inverters Sparks National Security Concerns: 7 Stocks That Could Be In Focus</a></li>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Image Via Shutterstock

CRWV

CoreWeave Becomes First To Deploy Nvidia's GB200 Grace Blackwell Systems At Scale — CRWV Stock Falls Over 6% Despite Beating Revenue Estimates

U.S. stock futures were lower on Thursday after mostly closing higher on Wednesday. Futures of major benchmark indices were trading lower in premarket.
Wednesday saw a positive momentum in tech stocks led by Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) following the <a href="https://www.benzinga.com/news/large-cap/25/05/45405067/saudi-arabia-bets-big-on-ai-teams-up-with-aws-and-nvidia">deals with Saudi Arabia</a>, strong earnings from Cisco Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) and CoreWeave Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWV#NASDAQ">CRWV</a>). 
Nvidia CEO Jensen Huang, who last year sparked &#8220;Jensanity&#8221; among attendees, will headline this year&#8217;s <a href="https://www.benzinga.com/media/25/05/45426637/nvidia-ceo-jensen-huang-expected-to-unveil-new-ai-alliances-at-computex-2025-as-geopolitical-pressures-persist-over-tech-sector">annual Computex trade show</a>, which will run from May 20–23 in Taipei, reported Reuters. His keynote is expected to spotlight Nvidia&#8217;s deepening partnerships with Taiwanese firms like Foxconn and Quanta. 
Investors assessed the economic impacts of a tariff pause with China and await the Producer Price Index data slated to be released today.
The 10-year Treasury bond yielded 4.50% and the two-year bond was at 4.03%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool&#8217;</a>s projections show markets pricing a 91.7% likelihood of the Federal Reserve keeping the current interest rates unchanged in its June meeting. 
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.42%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.81%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.63%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.35%</td>
</tr>
</tbody>
</table>
</figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, fell in premarket on Thursday. The SPY was down 0.68% to $583.57, while the QQQ declined 0.87% to $514.18, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Cues From Last Session:
Driven by renewed risk appetite after U.S.-China trade negotiation progress, information technology and communication services sectors led gains on Wednesday, bucking the broader negative trend where health care, materials, and real estate stocks saw the biggest losses.
Overall, U.S. stocks settled mixed, with the S&amp;P 500 extending its gains for a third session, up over 4% week-to-date, while the Dow added around 2% and the Nasdaq surged over 6% for the week.
Notably, Nvidia and Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) shares climbed significantly. Separately, U.S. mortgage applications saw a modest increase of 1.1%.
The Dow Jones index declined 89 points or 0.21% to 42,051.06, whereas the S&amp;P 500 index rose 0.10% to 5,892.58. Nasdaq Composite ended 0.72% higher at 19,146.81, and the small-cap gauge, Russell 2000, dropped 0.88% to 2,083.80.
<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>0.72%</td>
<td>19,146.81</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.10%</td>
<td>5,892.58</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.21%</td>
<td>42,051.06</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>0.88%</td>
<td>2,083.80</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
According to Scott Wren, the senior global market strategist at Wells Fargo, despite having a bit of a surprise in the outcome in terms of the U.S.-China trade talks, &#8220;The bottom line is that many uncertainties remain.&#8221;
&#8220;The U.S. is in the early stages of trade negotiations. Given that, our guidance is to continue to lean toward higher-quality large- and mid-cap U.S. equities. In fixed income, we favor exposure to investment-grade corporates and essential-service municipal bonds in the three-to-seven-year maturity range,&#8221; he said.
He highlighted that the market bounce back hinged on a variety of factors, including better-than-expected earnings and, particularly, guidance during the first-quarter reporting season as well as expectations that some trade deals would be announced (i.e., last week's U.K. deal).
It also has helped that much of the reported data covering April has so far continued to show U.S. economic resilience, he explained.
Talking about the U.S.-China deal, he said, &#8220;Of course, as always, the devil is in the details, and a deal has not officially been inked. A lot can happen between now and then.&#8221;
Meanwhile, the analysts at BlackRock said that &#8220;We eye opportunities from mega forces,&#8221; adding that &#8220;We still see tariffs causing further contractions in quarterly activity but the cumulative impact may be more limited.&#8221;
&#8220;We still see supply disruptions upping inflation and hitting growth, but also a path to avoiding a U.S. contraction over 2025 as a whole. Mega forces, greater fiscal spending, and higher interest rates are driving select opportunities,&#8221; the note added.
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How to Trade Futures</a> 
Upcoming Economic Data
Here&#8217;s what investors will keep an eye on Thursday:
<ul class="wp-block-list">
<li>The initial jobless claims data for the week ended May 10 will be out by 8:30 a.m. ET.</li>
</ul>
<ul class="wp-block-list">
<li>April&#8217;s U.S. retail sales, core and headline producer price index, May&#8217;s Empire State manufacturing survey, and Philadelphia Fed manufacturing survey will also be announced at 8:30 a.m. ET.</li>
</ul>
<ul class="wp-block-list">
<li>Fed Chairman Jerome Powell will speak at 8:40 a.m. ET.</li>
</ul>
<ul class="wp-block-list">
<li>April&#8217;s industrial production and capacity utilization will be out by 9:15 a.m. ET.</li>
</ul>
<ul class="wp-block-list">
<li>March&#8217;s business inventories data and May&#8217;s home builder confidence index will be released by 10:00 a.m. ET.</li>
</ul>
<ul class="wp-block-list">
<li>Fed Governor Michael Barr will speak at 2:05 p.m. ET.</li>
<li></li>
</ul>
Stocks In Focus:
<ul class="wp-block-list">
<li>Alibaba Group Holding Ltd. ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) fell 1.12% as analysts expect it to report quarterly earnings of $1.37 per share on revenue of $33.21 billion, before the opening bell.</li>
</ul>
<ul class="wp-block-list">
<li>Deere &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DE#NYSE">DE</a>) was down 0.24% as Wall Street expects it to report earnings before the opening bell. It is expected to post earnings of $5.58 per share on revenue of $10.79 billion.</li>
</ul>
<ul class="wp-block-list">
<li>Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) was 0.43% higher as analysts expect it to report quarterly earnings of 58 cents per share on revenue of $165.88 billion, before the opening bell.</li>
</ul>
<ul class="wp-block-list">
<li>Boot Barn Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOOT#NYSE">BOOT</a>) jumped 14.51% despite posting downbeat earnings for its fourth quarter, but issued first-quarter guidance with its midpoint above estimates. The company also announced a $200 million share repurchase program.</li>
</ul>
<ul class="wp-block-list">
<li>Cisco Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) advanced 3.44% after posting stronger-than-expected results for its third quarter and raising its fiscal 2025 guidance.</li>
</ul>
<ul class="wp-block-list">
<li>Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) was up 0.97% after it inked a record-breaking deal with Qatar Airways of up to 210 planes.</li>
</ul>
<ul class="wp-block-list">
<li>UnitedHealth Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) declined 4.87% after a report that the Justice Department is investigating the company for possible Medicare fraud.</li>
</ul>
<ul class="wp-block-list">
<li>Charles Schwab Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) was 0.93% lower after announcing the redemption of &#8216;series G&#8217; preferred stock.</li>
</ul>
Commodities, Gold, And Global Equity Markets:
Crude oil futures were trading lower in the early New York session by 3.99% to hover around $60.63 per barrel.
Gold Spot US Dollar fell 0.43% to hover around $3,164.60 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was lower by 0.31% at the 100.7260 level.
Asian markets ended lower on Thursday except India's S&amp;P BSE Sensex and Australia's ASX 200 index. Japan's Nikkei 225, Hong Kong's Hang Seng, South Korea's Kospi, and China&#8217;s CSI 300 indices declined. European markets were mostly lower in early trade.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/general/market-summary/25/05/45399940/warren-buffett-shows-how-patience-pays-98-of-his-160-billion-wealth-came-after-turning-65-thanks-the-power-of-compound-interest">Warren Buffett Shows How Patience Pays: 98% Of His $160 Billion Wealth Came After Turning 65, Thanks The Power Of &#8216;Compound Interest&#8217;</a></li>
</ul>
Image Via Shutterstock

Asia

Macro Notification

Bonds

Emerging Markets

Eurozone

Commodities

Forex

Treasuries

Pre-Market Outlook

BABA

BOOT

SCHW

US Stocks Likely To Open Lower After S&P 500's Three-Day Winning Streak: '...Many Uncertainties Remain,' Says Expert

Despite the falling gold prices after the stock market rebound, the gold mining companies are poised for growth as this expert highlights &#8220;record levels of free cash flow&#8221; for these companies over the next two years.
What Happened: The Macro Strategist at Crescat Capital, Otavio Costa, has underscored the data for the two-year forward free cash flow estimate for gold mining companies, highlighting the possibility of strong fundamental growth.
According to a chart shared by him, the free cash flow estimates of these companies surpass the expectation of the gold price level by the Philadelphia Gold &amp; Silver Exchange by 2027.
&#8220;Despite the recent pullback in gold, mining companies remain positioned to deliver record levels of free cash flow in the current environment,&#8221; he said in an X post.
This comes as the Gold Spot US Dollar fell 1.02% to hover around $3,145.09 per ounce during the publication of this piece. It was much lower than its recent record high of $3,500.33 per ounce.
&#8220;I've always found it compelling when prices of an asset decline even as fundamentals improve,&#8221; said Costa, adding that &#8220;Investors are gradually beginning to grasp the magnitude of what's unfolding, but in my view, we've already entered the Golden Age of Mining.&#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">I've always found it compelling when prices of an asset decline even as fundamentals improve. Despite the recent pullback in gold, mining companies remain positioned to deliver record levels of free cash flow in the current environment. Investors are gradually beginning to… <a href="https://t.co/F6RGYWu9vu">pic.twitter.com/F6RGYWu9vu</a>
&mdash; Otavio (Tavi) Costa (@TaviCosta) <a href="https://twitter.com/TaviCosta/status/1922836052143657281?ref_src=twsrc%5Etfw">May 15, 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/general/market-summary/25/05/45399940/warren-buffett-shows-how-patience-pays-98-of-his-160-billion-wealth-came-after-turning-65-thanks-the-power-of-compound-interest">Warren Buffett Shows How Patience Pays: 98% Of His $160 Billion Wealth Came After Turning 65, Thanks The Power Of ‘Compound Interest'</a>
Why It Matters: Here&#8217;s a list of some gold mining stocks that investors could consider as experts peg a possibility of higher cash flows in the future.
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Stocks</td>
<td>YTD Performance</td>
<td>One Year Performance</td>
</tr>
<tr>
<td>Harmony Gold Mining Company Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMY#NYSE">HMY</a>)</td>
<td>66.75%</td>
<td>50.59%</td>
</tr>
<tr>
<td>Perpetua Resources Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PPTA#NASDAQ">PPTA</a>)</td>
<td>4.16%</td>
<td>104.44%</td>
</tr>
<tr>
<td>Eldorado Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGO#NYSE">EGO</a>)</td>
<td>10.90%</td>
<td>16.00%</td>
</tr>
<tr>
<td>Sandstorm Gold Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAND#NYSE">SAND</a>)</td>
<td>40.98%</td>
<td>41.23%</td>
</tr>
<tr>
<td>Iamgold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAG#NYSE">IAG</a>)</td>
<td>9.68%</td>
<td>36.61%</td>
</tr>
<tr>
<td>Skeena Resources Ltd. (TSE: SKE)</td>
<td>14.77%</td>
<td>120.11%</td>
</tr>
<tr>
<td>Kinross Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KGC#NYSE">KGC</a>)</td>
<td>36.54%</td>
<td>71.85%</td>
</tr>
<tr>
<td>Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>)</td>
<td>26.82%</td>
<td>12.66%</td>
</tr>
<tr>
<td>Royal Gold Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGLD#NASDAQ">RGLD</a>)</td>
<td>23.11%</td>
<td>26.94%</td>
</tr>
<tr>
<td>Anglogold Ashanti PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AU#NYSE">AU</a>)</td>
<td>63.80%</td>
<td>60.64%</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, ended higher on Wednesday. The SPY was up 0.13% to $587.59, while the QQQ advanced 0.60% to $518.68, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/government/regulations/25/05/45403100/bullish-for-nvidia-tesla-palantir-microsoft-alphabet-amazon-ai-revolution-is-coming-to-the-saudi-kingdom-says-wedbushs-dan-ives">&#8216;Bullish For Nvidia, Tesla, Palantir, Microsoft, Alphabet, Amazon:&#8217; AI &#8216;Revolution Is Coming&#8217; To The Saudi Kingdom, Says Wedbush&#8217;s Dan Ives</a></li>
</ul>
Image Via Shutterstock

PPTA

RGLD

SAND

Gold Miners Poised For Boom As Analyst Predicts 'Record Levels Of Free Cash Flow' Despite Price Dip: 'Golden Age Of Mining'

The security of publicly traded U.S. solar companies is in focus as Chinese communication devices were found in critical renewable energy infrastructure, particularly power inverters.
What Happened: These devices, discovered during security checks of equipment, bypass typical firewall protections despite remote access capabilities being standard for updates and maintenance, reported Reuters.
Communication devices have been found in the batteries of several Chinese suppliers over the last nine months, as per the report.
The U.S. Department of Energy said that while these features and functionality &#8220;may not have malicious intent, it is critical for those procuring to have a full understanding of the capabilities of the products received.&#8221;
Some U.S.-based solar companies that could be in focus by the presence of undocumented devices in their supply include the following.
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Stocks</td>
<td>YTD Performance</td>
<td>One-Year Performance</td>
</tr>
<tr>
<td>NextEra Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>)</td>
<td>0.81%</td>
<td>-6.31%</td>
</tr>
<tr>
<td>First Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>)</td>
<td>3.49%</td>
<td>0.55%</td>
</tr>
<tr>
<td>Sunrun Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>)</td>
<td>24.39%</td>
<td>5.05%</td>
</tr>
<tr>
<td>CMS Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMS#NYSE">CMS</a>)</td>
<td>3.40%</td>
<td>9.21%</td>
</tr>
<tr>
<td>Primoris Services Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRIM#NYSE">PRIM</a>)</td>
<td>-0.08%</td>
<td>49.85%</td>
</tr>
<tr>
<td>WEC Energy Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WEC#NYSE">WEC</a>)</td>
<td>8.78%</td>
<td>20.24%</td>
</tr>
<tr>
<td>Duke Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DUK#NYSE">DUK</a>)</td>
<td>4.30%</td>
<td>8.81%</td>
</tr>
</tbody>
</table>
</figure>
See Also: <a href="https://www.benzinga.com/25/05/45404821/dollar-correction-imminent-sans-tariffs-to-reduce-the-us-trade-deficit-says-peter-schiff-minor-decline-would-make-trade-deficit-larger">Peter Schiff Warns Only Major Dollar Decline Or High Tariffs Can Cut US Trade Deficit — But Inflation And Rates Will Soar</a>
Why It Matters: Citing national security concerns, two U.S. Senators introduced the Decoupling from Foreign Adversarial Battery Dependence Act in February 2025. This action prohibited the Department of Homeland Security from procuring batteries from some Chinese entities, effective October 2027.
The six Chinese companies targeted included Contemporary Amperex Technology Company, BYD Company, Envision Energy, EVE Energy Company, Hithium Energy Storage Technology Company, and Gotion High-tech Company.
Meanwhile, Huawei exited the U.S. market in 2019, but it remains a dominant supplier worldwide.
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, ended higher on Wednesday. The SPY was up 0.13% to $587.59, while the QQQ advanced 0.60% to $518.68, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
On Thursday, the futures of the S&amp;P 500, Dow Jones, and Nasdaq 100 indices were trading lower.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/general/market-summary/25/05/45399940/warren-buffett-shows-how-patience-pays-98-of-his-160-billion-wealth-came-after-turning-65-thanks-the-power-of-compound-interest">Warren Buffett Shows How Patience Pays: 98% Of His $160 Billion Wealth Came After Turning 65, Thanks The Power Of &#8216;Compound Interest&#8217;</a></li>
</ul>
Image Via Shutterstock

FSLR

PRIM

DOE Warns Of Hidden Risks As Chinese Devices In Power Inverters Sparks National Security Concerns: 7 Stocks That Could Be In Focus

U.S. tech stocks extended their weekly rally into Wednesday's session, lifted by renewed investor appetite for risk following a breakthrough in early-week U.S.-China trade negotiations. This reignited hopes for a more <a href="https://www.benzinga.com/topic/tariffs">stable global trade outlook. </a>
The Nasdaq 100 rose 0.5% by midday in New York, reaching levels last seen in late February. Heavyweight chipmakers led the rally, as Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) surged 4% and Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) jumped 5%.
Traders welcomed mounting expectations of large-scale investments from Gulf nations into U.S. tech and semiconductor sectors, as President Donald Trump secured new economic agreements with <a href="https://www.benzinga.com/25/05/45417156/nvidia-amd-stocks-climb-as-trump-plans-to-ease-ai-chip-export-rules">Middle Eastern countries</a>, including Saudi Arabia and Syria.
While the Nasdaq marched higher, the S&amp;P 500 stalled and both the Dow Jones Industrial Average and Russell 2000 slipped slightly, indicating a more selective rally focused on high-growth sectors.
Clean energy and solar stocks outperformed again, building on strong Tuesday gains. Investors cheered a less-severe-than-expected revision to clean energy tax credits in the latest Republican tax proposal.
The commodity space told a different story, with gold prices dropping nearly 2%, breaking below the $3,200 per ounce mark for the first time in over a month. 
The yellow metal is now tracking its worst weekly performance since November 2024, with two trading sessions still left this week.
Investors appear to be rotating out of safe-haven assets, as appetite for equities and riskier plays returns on global trade optimism. 
Rising Treasury yields also weighed on broader market sentiment. The yield on the 2-year Treasury note broke above 4%, hitting its highest level in more than two months. Meanwhile, the 30-year bond yield rose 5 basis points to 4.97%, drawing closer to the psychologically important 5% mark—a level often associated with tightening financial conditions and pressure on long-duration assets.
<h3 class="wp-block-heading">Wednesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>21,273.30</td>
<td>0.4%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,891.20</td>
<td>0.1%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,075.32</td>
<td>-0.2%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,089.17</td>
<td>-0.6%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:15 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul class="wp-block-list">
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) flattened at $586.91.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) eased 0.3% to $420.45.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;rose 0.4% to $517.40.</li>
<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) inched 0.6% lower to $207.35.</li>
<li>The&nbsp;Consumer Discretionary&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) outperformed, up 0.5%; the&nbsp;Health Care&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) lagged, down 1.8%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
<ul class="wp-block-list">
<li>Israeli retail broker Etoro Group Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETOR#NASDAQ">ETOR</a>) made his debut on the Nasdaq 100 index. Shares were up 26%.</li>
<li>Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) rallied for a second straight session, jumping 18% to $45.99 on Monday after a 16% gain the previous day.</li>
<li>Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) advanced 1.9% after securing a major deal with Qatar Airways, which agreed to purchase up to 210 Boeing 787 Dreamliner and 777X aircraft in a transaction valued at $96 billion.</li>
<li>Exelixis Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXEL#NASDAQ">EXEL</a>) soared 20% after the biotech firm posted first-quarter earnings and revenue that topped Wall Street estimates.</li>
<li>Stocks slated to report earnings after the close include Cisco Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>), Copart Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPRT#NASDAQ">CPRT</a>) and Steris plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STE#NYSE">STE</a>). </li>
</ul>
Now Read:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/government/regulations/25/05/45414023/magnificent-seven-add-36-trillion-since-april-lows-is-this-rally-just-beginning">Magnificent Seven Add $3.6 Trillion Since April Lows: Is This Rally Just Beginning?</a></li>
</ul>
Image: Shutterstock

Large Cap

CPRT

ETOR

EXEL

SMCI

Tech Stocks Edge Up, AMD Rallies 5%, 30-Year Yields Eye Danger Zone: What's Driving Markets Wednesday?

The Magnificent Seven megacap stocks have tacked on an astonishing $3.57 trillion combined market value since April 8, powered by a sweeping reversal in global trade sentiment following the 90-day tariff pause and <a href="https://www.benzinga.com/topic/tariffs">U.S.-China trade truce.</a>
Notably, $1.2 trillion of that gain has occurred in just three days after the May 12 U.S.-China de-escalation. 
<h3 class="wp-block-heading">From Tariff Panic To Trillion-Dollar Gains</h3>
The rally began after the April 9 announcement of a 90-day pause on new tariffs—just one week after the U.S. introduced broad trade measures that had roiled global markets.
Optimism built steadily as Treasury Secretary Scott Bessent hinted at major trade progress with several partners. 
In May, two major diplomatic breakthroughs:
<ul class="wp-block-list">
<li>May 7: A U.S.-UK trade agreement slashed tariffs on autos and agriculture</li>
<li>May 12: A U.S.-China truce cut tariffs by 115 percentage points, replacing the expected April hikes with reduced rates of 30pp from the U.S. and 15pp from China—effective for 90 days. </li>
</ul>
&#8220;Recent positive news on U.S. trade policy, combined with easing financial conditions, has led our economists to raise their growth forecasts for the U.S., Europe, and China, and reduce the U.S. recession probability to 35% from 45%,&#8221; Goldman Sachs said in a note Wednesday.
<h3 class="wp-block-heading">Mag7 Market Cap Gains Since April 8</h3>
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<thead>
<tr>
<th>Company</th>
<th>April 8 Market Cap</th>
<th>May 15 Market Cap</th>
<th>Market Cap Gain</th>
<th>% Rally</th>
</tr>
</thead>
<tbody>
<tr>
<td>Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)</td>
<td>$2,635.79B</td>
<td>$3,360.04B</td>
<td>+$724.25B</td>
<td>+27.5%</td>
</tr>
<tr>
<td>Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)</td>
<td>$2,349.72B</td>
<td>$3,229.57B</td>
<td>+$879.85B</td>
<td>+37.5%</td>
</tr>
<tr>
<td>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)</td>
<td>$2,590.11B</td>
<td>$3,185.35B</td>
<td>+$595.24B</td>
<td>+23.6%</td>
</tr>
<tr>
<td>Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)</td>
<td>$1,808.61B</td>
<td>$2,235.62B</td>
<td>+$427.01B</td>
<td>+23.5%</td>
</tr>
<tr>
<td>Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)</td>
<td>$1,774.23B</td>
<td>$1,965.05B</td>
<td>+$190.82B</td>
<td>+11.7%</td>
</tr>
<tr>
<td>Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)</td>
<td>$1,293.31B</td>
<td>$1,654.51B</td>
<td>+$361.20B</td>
<td>+28.5%</td>
</tr>
<tr>
<td>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)</td>
<td>$713.62B</td>
<td>$1,101.28B</td>
<td>+$387.66B</td>
<td>+54.1%</td>
</tr>
</tbody>
</table>
</figure>
<ul class="wp-block-list">
<li>Total Market Cap Gain: $3.57 trillion</li>
</ul>
<h3 class="wp-block-heading">Nasdaq 100 Posts Rare 25-Session Surge</h3>
The market shift hasn&#8217;t been confined to just mega-cap tech names. 
The Nasdaq 100 Index – as tracked by the Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) – has now posted one of its strongest 25-session rallies in history, surging 24.5% since April 8.
That puts this advance on par with historic rebounds during major turning points:
<ul class="wp-block-list">
<li>April 2020: +26.4%</li>
<li>April 2009: +26.6%</li>
<li>November 2002: +25.8%</li>
<li>November 2001: +31.0%</li>
</ul>
Only a handful of periods in the last two decades have seen such rapid upward repricing, mostly during post-crisis recoveries.
&#8220;Those events all registered as market bottoms,&#8221; Goldman Sachs&#8217; analyst Peter Callahan said.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45406180/only-half-of-sp-500-stocks-joined-the-tariff-relief-rally-time-to-buy-the-laggards">Only Half Of S&amp;P 500 Stocks Joined The Tariff-Relief Rally: Time To Buy The Laggards? </a></li>
</ul>
Photo: Shutterstock

Magnificent Seven Add $3.6 Trillion Since April Lows: Is This Rally Just Beginning?

Renowned economist Peter Schiff has issued a stark warning about the U.S. trade deficit, asserting that without the implementation of high tariffs, the only path to significantly reduce the deficit is through a major decline in the value of the U.S. dollar.
What Happened: In a post on X, Schiff highlighted the potential economic consequences of current trade policies, predicting that a minor decline in the dollar would not only fail to address the deficit but could exacerbate it by increasing the cost of imports.
This, he warns, would inevitably lead to higher inflation and rising interest rates, posing significant challenges to the U.S. economy.
"Without very high tariffs, the only way to significantly reduce the U.S. trade deficit is with a major decline in the dollar," Schiff wrote on X. "A minor decline would just make the trade deficit larger by increasing the cost of imports. The consequence is both inflation and interest rates will rise."
<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">Without very high tariffs the only way to significantly reduce the U.S. trade deficit is with a major decline in the dollar. A minor decline would just make the trade deficit larger by increasing the cost of imports. The consequence is both inflation and interest rates will rise.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1922608317320290695?ref_src=twsrc%5Etfw">May 14, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
After Donald Trump&#8216;s 2018 term, a 2023 U.S. International Trade Commission <a href="https://taxfoundation.org/research/all/federal/trump-tariffs-trade-war/">report found</a> that Trump's tariffs, which aimed to reduce the trade deficit by protecting domestic industries, resulted in a $3.4 billion production decrease in downstream industries due to higher input costs. 
These losses largely offset any gains in protected sectors, suggesting that tariffs alone may not be a silver bullet for addressing trade imbalances.
See Also: <a href="https://www.benzinga.com/government/regulations/25/05/45403100/bullish-for-nvidia-tesla-palantir-microsoft-alphabet-amazon-ai-revolution-is-coming-to-the-saudi-kingdom-says-wedbushs-dan-ives">&#8216;Bullish For Nvidia, Tesla, Palantir, Microsoft, Alphabet, Amazon:&#8217; AI &#8216;Revolution Is Coming&#8217; To The Saudi Kingdom, Says Wedbush&#8217;s Dan Ives</a>
Why It Matters: The broader economic context adds weight to Schiff's concerns. A January 2024 International Monetary Fund (IMF)<a href="https://www.imf.org/en/Publications/WP/Issues/2024/01/19/The-Macroeconomic-Consequences-of-Import-Tariffs-and-Trade-Policy-Uncertainty-543877"> paper revealed</a> that unexpected tariff shocks tend to reduce imports more than exports, leading to slight decreases in the trade deficit but at the expense of persistent GDP losses. 
The study estimated that reversing the 2018–2019 tariffs could increase U.S. output by 4% over three years, underscoring the trade-offs involved in protectionist policies.
This comes after the U.S. and China <a href="https://www.benzinga.com/markets/equities/25/05/45341884/apple-amazon-nvidia-rise-in-monday-premarket-as-us-china-agree-to-90-day-tariff-truce-neither-side-wants-a-decoupling">reached a 90-day truce</a>, pausing the reciprocal tariffs on Monday this week. 
Price Action: Gold Spot US Dollar fell 0.72% to hover around $3,226.84 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was lower by 0.42% at the 100.5780 level.
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, were higher in premarket on Wednesday. The SPY was up 0.22% to $588.14, while the QQQ advanced 0.37% to $517.49, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/general/market-summary/25/05/45399940/warren-buffett-shows-how-patience-pays-98-of-his-160-billion-wealth-came-after-turning-65-thanks-the-power-of-compound-interest" target="_blank" rel="noreferrer noopener">Warren Buffett Shows How Patience Pays: 98% Of His $160 Billion Wealth Came After Turning 65, Thanks The Power Of ‘Compound Interest'</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image Via Shutterstock

Peter Schiff Warns Only Major Dollar Decline Or High Tariffs Can Cut US Trade Deficit — But Inflation And Rates Will Soar

Editor&#8217;s Note: This story has been updated to include the latest data.
U.S. stock futures reversed early losses to trade in the green during Wednesday's premarket session, following a mixed finish on Tuesday. The S&amp;P 500 and Nasdaq 100 indices turned positive for the year after Tuesday&#8217;s advance.
A positive inflation report for April and easing trade concerns boosted investor sentiment, but the tech sector&#8217;s gains were largely driven by chipmaker Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>). The company&#8217;s stock soared thanks to both an expected overhaul of chip regulations and a new collaboration with <a href="https://www.benzinga.com/markets/equities/25/05/45398595/trump-praises-nvidia-ceo-jensen-huang-at-saudi-summit-tim-cook-isnt-here-but-you-are-controlling-99-of-the-chip-market-thats-not-easy-to-beat">Saudi Arabia</a>. 
The 10-year Treasury bond yielded 4.45% and the two-year bond was at 3.99%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool&#8217;s </a>projections show markets pricing a 91.8% likelihood of the Federal Reserve keeping the current interest rates unchanged in its June meeting. 
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.05%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.22%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>0.36%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>0.08%</td>
</tr>
</tbody>
</table>
</figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, were trading higher in premarket on Wednesday. The SPY was up 0.22% to $588.11, while the QQQ advanced 0.37% to $517.48, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Cues From Last Session:
Information technology, consumer discretionary, energy and communication services sectors saw the biggest gains on Tuesday. Whereas health care, consumer staples, and real estate sectors declined. 
The Labor Department&#8217;s Tuesday report showed a 2.3% year-over-year rise in the Consumer Price Index for April, below the 2.4% economist expectation, while core CPI&#8217;s 2.8% increase matched estimates.
After Tuesday, the S&amp;P 500 index turned positive for the year, up 0.31% year-to-date. Meanwhile, Dow Jones was still down -0.59% YTD, and Nasdaq 100 was up 1.06%.
The Dow Jones index declined 270 points or 0.64% to 42,140.43, whereas the S&amp;P 500 index rose 0.72% to 5,886.55. Nasdaq Composite ended 1.61% higher at 19,010.08, and the small-cap gauge, Russell 2000, climbed 0.49% to 2,102.35.
<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>1.61%</td>
<td>19,010.08</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.72%</td>
<td>5,886.55</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.64%</td>
<td>42,140.43</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>0.49%</td>
<td>2,102.35</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
According to Ryan Detrick, chief market strategist for the Carson Group, a recent market observation is signaling <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/05/45394972/sp-500-turns-positive-on-the-year-flashes-quite-rare-and-rather-bullish-signal">potential for further gains</a>. 
Detrick noted that on Tuesday, over 60% of the S&amp;P 500 components reached new 20-day highs, highlighting the historical bullish implications of this infrequent event.
As Detrick stated in a post on X, &#8220;This is quite rare and rather bullish. Strong performance across the board and higher a year later 18 out of 18 times.&#8221;
The market is flashing another bullish signal that could indicate even more gains ahead, according to Ryan Detrick, chief market strategist for the Carson Group.
Detrick observed that on Tuesday, more than 60% of the components in the S&amp;P 500 are hitting new 20-day highs and pointed to a historically bullish year following this rare occurrence.
&#8220;This is quite rare and rather bullish. Strong performance across the board and higher a year later 18 out of 18 times,&#8221; Detrick wrote in a post on X.
<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">After today we will have more than 60% of the components in the S&amp;P 500 hitting a new 20-day high. This is quite rare and rather bullish. Strong performance across the board and higher a year later 18 out of 18 times. &#x1f4aa; <a href="https://t.co/0D4Pm0scqS">pic.twitter.com/0D4Pm0scqS</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1922361671332303080?ref_src=twsrc%5Etfw">May 13, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Wharton Professor of Finance and WisdomTree Senior Economist Jeremy Siegel <a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45389778/jeremy-siegel-calls-us-china-deal-amazing-expects-long-term-stability">expressed significant optimism</a> regarding the recently announced U.S.-China trade deal, stating it was &#8220;a lot better than anyone was anticipating,&#8221; and predicting it will &#8220;stay that way.&#8221; 
Speaking on CNBC's "Squawk On The Street" on Tuesday, Siegel described it as an "amazing" deal benefiting all, including market participants.
He noted, "There was no analyst out there that predicted that we'd come to an agreement — at least a tentative agreement — so quickly, and actually specify tariff levels as low as they came in. It was like, wow, this is great news."
Siegel pointed out that with previous forecasts from Trump suggesting tariff reductions to the 50% to 80% range, the 30% announcement surprised markets and triggered a substantial rally. He further told CNBC that he expects the agreement to endure, stating he doesn't believe the two major economies will reimpose higher tariffs as trade tensions have "settled down."
While acknowledging potential "small adjustments" and that tariffs won't have "zero effect" given the current 17% average tariff for U.S. consumers (the highest in 85 years), Siegel said, "But it's certainly going to have a lot less effect than what it seemed like just a week ago."
The economist anticipates a likely increase in inflation in June or July due to tariff impacts on earnings and growth, but doesn&#8217;t foresee this lasting long-term.
He suggested that the Fed should cut rates if conditions worsen and then raise them if they improve, contrasting this with the common expectation of a rate-cutting cycle and the Fed&#8217;s emphasis on data dependence.
Siegel believes this approach is flawed, noting that while near-term inflation could rise due to supply shocks, long-term indicators appear stable. Finally, he observed, "The good news is that the tone of Trump is so much different now than it was two or three months ago," hinting at the possibility of more trade agreements in the future.
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>Fed Governor Christopher Waller will speak at 5:15 a.m., Fed Vice Chair Philip Jefferson will speak at 9:10 a.m., and San Francisco Fed President Mary Daly will speak at 5:40 p.m. ET.</li>
</ul>
Stocks In Focus:
<ul class="wp-block-list">
<li>American Eagle Outfitters Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEO#NYSE">AEO</a>) dropped 14.47% in premarket on Wednesday after it reported preliminary results for the first quarter and withdrew its full-year guidance.</li>
</ul>
<ul class="wp-block-list">
<li>Cisco Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) was up 0.15% as analysts expect the San Jose, California-based company to report quarterly earnings at 92 cents per share, up from 88 cents per share in the year-ago period, after the closing bell.</li>
</ul>
<ul class="wp-block-list">
<li>Endava PLC ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAVA#NYSE">DAVA</a>) jumped 5.09% as it is expected to report before the opening bell. Analysts expect the U.K.-based company to report quarterly earnings at 31 cents per share, compared to 22 cents per share in the year-ago period.</li>
</ul>
<ul class="wp-block-list">
<li>Dynatrace Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DT#NYSE">DT</a>) advanced 1.78% as analysts expect the Waltham, Massachusetts-based company to report quarterly earnings at 30 cents per share, compared to 30 cents per share in the year-ago period. The results will be announced before the opening bell.</li>
</ul>
<ul class="wp-block-list">
<li>Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) was up 1.90%, continuing the momentum after reports that the United Arab Emirates may receive approval to purchase over a million of its advanced AI processors, while Saudi Arabia pledged up to $600 billion in future U.S. investments, with a focus on technology and infrastructure.</li>
</ul>
<ul class="wp-block-list">
<li>Innovative Eyewear Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUCY#NASDAQ">LUCY</a>) zoomed 48.99% after its first-quarter revenue reached $454,501, up 19% year-on-year, driven by new product launches, including Nautica and Eddie Bauer collections.</li>
</ul>
<ul class="wp-block-list">
<li>Actelis Networks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASNS#NASDAQ">ASNS</a>) slumped 16.25% after it reported a quarterly loss of $0.22 per share and also posted revenue of $0.72 million, missing estimates during the first quarter.</li>
</ul>
Commodities, Gold, And Global Equity Markets:
Crude oil futures were trading lower in the early New York session by 1.35% to hover around $62.81 per barrel.
Gold Spot US Dollar fell 0.53% to hover around $3,233.05 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was lower by 0.62% at the 100.3810 level.
Asian markets ended higher on Wednesday except Japan's Nikkei 225 index. India's S&amp;P BSE Sensex, Hong Kong's Hang Seng, South Korea's Kospi, China&#8217;s CSI 300, and Australia's ASX 200 indices advanced. European markets were mostly lower in early trade.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/general/market-summary/25/05/45399940/warren-buffett-shows-how-patience-pays-98-of-his-160-billion-wealth-came-after-turning-65-thanks-the-power-of-compound-interest">Warren Buffett Shows How Patience Pays: 98% Of His $160 Billion Wealth Came After Turning 65, Thanks The Power Of &#8216;Compound Interest&#8217;</a></li>
</ul>
Image Via Shutterstock

ASNS

DAVA

KDLY

LUCY

US Stock Futures Trade Higher On Wednesday: S&P 500 Is Flashing 'Quite Rare And Rather Bullish' Signal, Says Expert (UPDATED)

Wedbush analyst Daniel Ives praised the upcoming &#8216;AI Revolution&#8217; in Saudi Arabia and the Middle East after the U.S.-Saudi Investment Forum on Tuesday, which saw a slew of announcements on the artificial intelligence front.
What Happened: The Jensen Huang-led chipmaker announced a new agreement to supply 18,000 GB300 <a href="https://www.benzinga.com/markets/25/05/45397196/jensen-huangs-wealth-surges-37-since-liberation-day-lows-as-nvidia-re-enters-3-trillion-market-cap-club-on-saudi-chip-pact">Blackwell chips</a> to Saudi-based AI startup Humain, backed by the nation's sovereign wealth fund.
Ives said in a series of X posts that &#8220;the AI Revolution is coming to the Saudi Kingdom and Riyadh will be a major buyer of AI chips, software, autonomous/robotics, datacenters over the next decade.&#8221;
He also added that this move will be bullish for firms like, Nvidia, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>), Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), 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>) and Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>).
&#8220;Bullish for Nvidia, Tesla, Palantir, Microsoft, Alphabet, Amazon. Just starting,&#8221; he added.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The theme was clear in Riyadh&#8230;the AI Revolution is coming to the Saudi Kingdom and Riyadh will be a major buyer of AI chips, software, autonomous/robotics, datacenters over the next decade. Bullish for Nvidia, Tesla, Palantir, Microsoft, Alphabet, Amazon. Just starting &#x1f3c6;&#x1f525;&#x1f402;
&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1922591983027020045?ref_src=twsrc%5Etfw">May 14, 2025</a></blockquote>
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He added that this was a part of President Donald Trump&#8216;s administration&#8217;s &#8220;global game of high stakes poker&#8221;. He highlighted the curbs on China to acquire Nvidia&#8217;s chips and how the U.S. was steering toward giving Saudi Arabia to supply its next generation chips.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It also speaks to this global game of high stakes poker being played by the Trump Admin as while China is getting blockades from Nvidia&#39;s older H20 chip slowing down the AI buildout in Beijing, on the contrary Saudi getting the best Nvidia next generation chips red carpet rollout <a href="https://t.co/ALaTBIozUX">https://t.co/ALaTBIozUX</a>
&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1922604976020320432?ref_src=twsrc%5Etfw">May 14, 2025</a></blockquote>
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&#8220;This is all part of a regional focus in the Middle East building out datacenters and the AI Revolution which will start to vault UAE, Saudi, Qatar to the priority list for US tech companies. Adds major TAM to AI Revolution,&#8221; he said.
See Also: <a href="https://www.benzinga.com/general/market-summary/25/05/45399940/warren-buffett-shows-how-patience-pays-98-of-his-160-billion-wealth-came-after-turning-65-thanks-the-power-of-compound-interest">Warren Buffett Shows How Patience Pays: 98% Of His $160 Billion Wealth Came After Turning 65, Thanks The Power Of &#8216;Compound Interest&#8217;</a>
Why It Matters: Following a dip to $83 billion in the first week of April, shortly after the &#8220;Liberation Day&#8221; tariffs, Huang&#8217;s net worth has since experienced a <a href="https://www.benzinga.com/markets/25/05/45397196/jensen-huangs-wealth-surges-37-since-liberation-day-lows-as-nvidia-re-enters-3-trillion-market-cap-club-on-saudi-chip-pact">significant rebound</a>. By the end of Tuesday, it had surged by 37% from that low point, reaching just under $120 billion. &#8211;
Also, Nvidia's recent stock rally has driven the company back into the $3 trillion market cap club.
Meanwhile, Trump also <a href="https://www.benzinga.com/markets/equities/25/05/45398595/trump-praises-nvidia-ceo-jensen-huang-at-saudi-summit-tim-cook-isnt-here-but-you-are-controlling-99-of-the-chip-market-thats-not-easy-to-beat">appreciated Huang</a> at the Forum and said, "I see my friend is here, Jensen. [Apple Inc. CEO] Tim Cook isn't here, but you are.&#8221;
"What a job you've done. He's got 99% of the chip market. That's not easy to beat,&#8221; he added.
"Thank you for the investment. We are proud to have you in our country," Trump told Huang.
Price Action: Shares of Nvidia rose 5.63% on Tuesday and were up 2.61% on Wednesday in pre-market trading. However, the stock was down 6.06% on a year-to-date basis and up 42.22% over a year.
Benzinga Edge Stock Rankings shows that NVDA had a stronger price trend over the short, medium, and long term. Its momentum ranking was solid at 82.75th percentile, whereas its value ranking was poor at 6.65th percentile; the details of other metrics are <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here</a>. 
<figure class="wp-block-image size-large"><a href=" https://www.benzinga.com/quote/NVDA"><img loading="lazy" decoding="async" width="1024" height="143" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/14071534/EDGE-NVDA-1024x143.png" alt="" class="wp-image-914799" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/14071534/EDGE-NVDA-1024x143.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/14071534/EDGE-NVDA-300x42.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/14071534/EDGE-NVDA-768x108.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/14071534/EDGE-NVDA.png 1228w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, were higher in premarket on Wednesday. The SPY was up 0.16% to $587.79, while the QQQ advanced 0.33% to $517.30, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pr</a>o data.
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