U.S. stock futures were flat on Thursday after a mixed close on Wednesday. Futures of major benchmark indices were mixed in premarket.



The tepid move followed ADP data showing that the <a href="https://www.benzinga.com/markets/economic-data/25/06/45768817/us-private-sector-hiring-slows-the-most-in-2-years-powell-must-now-lower-the-rate-trump-says">private payroll additions tumbled</a> in May as weak consumer sentiment and trade policy uncertainty weighed on hiring. 



"ADP number out!!! &#8216;Too Late&#8217; Powell must now lower the rate. He is unbelievable!!! Europe has lowered nine times!" Donald Trump wrote on Truth Social shortly after the release.



Meanwhile, the 10-year Treasury bond yielded 4.35% and the two-year bond was at 3.87%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections show markets pricing a 95.6% 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>0.14%</td></tr><tr><td>S&amp;P 500</td><td>0.05%</td></tr><tr><td>Nasdaq 100</td><td>-0.01%</td></tr><tr><td>Russell 2000</td><td>0.15%</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 Thursday. The SPY was up 0.12% at $596.66, while the QQQ advanced 0.10% to $529.30, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From Last Session:



U.S. stocks settled mixed on Wednesday, with the Dow Jones index snapping a four-session winning streak.



Most S&amp;P 500 sectors ended positively on Wednesday, with communication services, materials, and real estate stocks leading the gains on Wednesday.



However, energy and utilities stocks underperformed, closing the session in the red.



Yext Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YEXT#NYSE">YEXT</a>) shares soared over 31% after the company raised its FY26 adjusted EPS guidance above estimates. Dollar Tree Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NYSE">DLTR</a>) shares fell over 8% following its first-quarter results.



On the economic data front, the ISM services PMI dropped to 49.9 in May from 51.6 the prior month, missing market expectations of 52. U.S. private businesses added 37K workers to payrolls in May, down from a revised 60K in the previous month.



The Dow Jones index ended 92 points or 0.22% lower at 42,427.74, whereas the S&amp;P 500 index rose 0.0074% to 5,970.81. Nasdaq Composite advanced 0.32% to 19,460.49, and the small-cap gauge, Russell 2000, gained 0.21% to end at 2,098.48.



<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>0.32%</td><td>19,460.49</td></tr><tr><td>S&amp;P 500</td><td>0.0074%</td><td>5,970.81</td></tr><tr><td>Dow Jones</td><td>-0.22%</td><td>42,427.74</td></tr><tr><td>Russell 2000</td><td>0.21%</td><td>2,098.48</td></tr></tbody></table></figure>



Insights From Analysts:



Ross Gerber, CEO of Gerber Kawasaki Wealth &amp; Investment Management, <a href="https://www.benzinga.com/news/politics/25/06/45785484/trump-cant-demand-lower-rates-while-creating-inflation-with-tariffs-and-money-printing-says-ross-gerber-backs-feds-patience">backed the Federal Reserve's choice</a> to maintain interest rates, while strongly condemning President Trump's trade and tariff strategies, as well as the fiscal expansion fueling inflation. 



In a Wednesday post on X, Gerber stated that Federal Reserve Chair Jerome Powell was "doing the right thing" by keeping interest rates unchanged, awaiting a clearer picture of Trump's tariff effects.



Gerber contends that if Trump desires lower interest rates, he should steer clear of inflation-driving policies like the inflationary tariff approach and the "One Big, Beautiful Bill," which will likely increase the fiscal deficit and national debt.



The GOP bill, which narrowly passed the House in May, includes significant tax cuts paired with heightened spending on defense, manufacturing, and infrastructure.



"If Trump wants lower rates, then he should stop working on creating inflation through vast amounts of money printing," he said.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Powell and the Fed are doing the right thing holding rates while waiting to see the damage caused by trumps tariffs. If Trump wants lower rates then he should stop working on creating inflation through vast amounts of money printing.&mdash; Ross Gerber (@GerberKawasaki) <a href="https://twitter.com/GerberKawasaki/status/1930303657406542235?ref_src=twsrc%5Etfw">June 4, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Louis Navellier of Navellier &amp; Associates said that tariff negotiations with China were &#8220;hitting an impasse,&#8221; thus he added &#8220;a call between President Xi Jinping and President Trump may be imminent.&#8221;



Contrary to Gerber&#8217;s view, Navellier said that &#8220;The Fed has said inflation is its main priority, but a weak payroll report could cause the Fed to key interest rates sooner rather than later.&#8221;



Meanwhile, Adam Turnquist, the chief technical strategist at LPL Financial, <a href="https://www.benzinga.com/markets/equities/25/06/45787192/nasdaq-100s-premium-valuation-is-easier-to-digest-as-growth-optimism-surges-for-2026-momentum-remains-bullish">hinted in his technical analysis</a> that it was "easier to digest" the Nasdaq 100 index's premium valuation given the growth optimism for 2025 and 2026. 



&#8220;A jump in expected operating margins from 18.0% in 2024 to 23.8% in 2025 and 25.6% in 2026 makes the premium valuation easier to digest (along with the AI-themed tailwinds)," explained Turnquist.



From a technical perspective, Turnquist suggests that the index's "Momentum remains bullish after the recent reset from overbought levels." The Nasdaq 100 has rallied out of a bear market in less than two months.



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 31, April U.S. trade deficit, and first quarter&#8217;s U.S. productivity data will be out by 8:30 a.m. ET.</li>



<li>Federal Reserve Governor Adriana Kugler will speak at noon, and Philadelphia Fed President Patrick Harker will speak at 1:30 p.m. ET.</li>
</ul>



Stocks In Focus:



<ul class="wp-block-list">
<li>Ciena Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIEN#NYSE">CIEN</a>) rose 3.41% in premarket on Tuesday as analysts expect it to report quarterly earnings of 52 cents per share on revenue of $1.09 billion, before the opening bell.</li>



<li>Toro Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTC#NYSE">TTC</a>) declined 1.43% ahead of its earnings, which are supposed to be released before the opening bell. Analysts expect earnings of $1.39 per share on revenue of $1.35 billion.</li>



<li>Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) was up 0.70% as analysts expect it to report quarterly earnings of $1.56 per share on revenue of $14.99 billion, after the closing bell.</li>



<li>PVH Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PVH#NYSE">PVH</a>) dropped 8.86% after it cut fiscal 2026 adjusted EPS guidance from a range of $12.40 to $12.75 to a new range of $10.75 to $11, versus the $12.52 analyst estimate.</li>



<li>MongoDB Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDB#NASDAQ">MDB</a>) jumped 15.16% after it reported better-than-expected first-quarter financial results for fiscal 2026 after the market closed on Wednesday. It also raised its outlook for fiscal 2026.</li>



<li>Mullen Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MULN#NASDAQ">MULN</a>) fell 18.01% after it announced that it entered into securities purchase agreements following its 1-for-100 reverse stock split on Wednesday.</li>



<li>Five Below Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NASDAQ">FIVE</a>) gained 5.39% after it beat analyst estimates on the top and bottom lines in the first quarter.</li>



<li>ChargePoint Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHPT#NYSE">CHPT</a>) was 12.92% lower after it reported losses of six cents per share, which met the analyst consensus estimate. Quarterly revenue comes in at $97.64 million, which missed the Street estimate of $100.53 million.</li>



<li>Planet Labs PBC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PL#NYSE">PL</a>) surged 19.05% after its first-quarter revenue came in at $66.27 million, beating the $62.3 million Street estimate. The company sees second-quarter revenue in a range of $65 million to $67 million, versus the $65.19 million estimate.</li>
</ul>



Commodities, Gold, And Global Equity Markets:



Crude oil futures were trading higher in the early New York session by 0.38% to hover around $63.09 per barrel.



Gold Spot US Dollar rose 0.30% to hover around $3,382.45 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was higher by 0.07% at the 98.8540 level.



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



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/06/45786854/magnificent-7-drive-54-of-market-cap-gains-in-sp-500-since-april-lows-the-market-cannot-survive-without-big-tech">Magnificent 7 Drive 54% Of Market Cap Gains In S&amp;P 500 Since April Lows: &#8216;The Market Cannot Survive Without Big Tech&#8217; </a></li>
</ul>



Photo courtesy: Shutterstock

Equities

AVGO

CHPT

CIEN

DLTR

FIVE

MULN

YEXT

US Stocks Likely To Open On A Mixed Note After Dow Snaps Four-Day Run: 'Powell And The Fed Are Doing The Right Thing Holding Rates,' Says Expert

Meta Platforms Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) is facing a $109 million lawsuit from&nbsp;Eminem&#8216;s music publisher, Eight Mile Style, for alleged copyright infringement.



What Happened:&nbsp;Eight Mile Style, the company that manages Eminem&#8217;s early catalog, has&nbsp;filed a lawsuit against Meta&nbsp;Platforms, the parent company of Facebook, Instagram and WhatsApp,&nbsp;<a href="https://people.com/eminem-music-publisher-eight-mile-style-is-suing-meta-for-copyright-infringement-for-109-million-11747831">reported</a>&nbsp;PEOPLE. The lawsuit accuses Meta of copyright infringement and seeks damages of over $109 million.



The lawsuit, which does not name Eminem as a party, claims that Meta's platforms—such as Original Audio and Reels Remix—allow users to use music owned by Eight Mile Style without proper licensing or credit. It also alleges that the songs have appeared in millions of videos and have been streamed billions of times. The music publisher is demanding $150,000 for each of the 243 songs allegedly used on Meta&#8217;s platforms, totaling $109.35 million in damages.



A Meta spokesperson, according to the publication, said the company has been negotiating in good faith with Eight Mile Style and expressed disappointment that the publisher chose to sue rather than continue discussions.



Eight Mile Style is also alleging a &#8220;diminished&nbsp;value of the copyrights by&nbsp;Defendants' theft of them, lost&nbsp;profits, and Defendants' profits attributable&nbsp;to the infringement.&#8221;&nbsp;The company is pursuing financial compensation, including the maximum amount allowed under the law.



SEE ALSO:&nbsp;<a href="https://benzinga.com/markets/tech/25/06/45785192/anthony-scaramucci-says-the-left-should-focus-on-why-it-lost-elon-musk-rather-than-demonizing-him-cr" target="_blank" rel="noreferrer noopener">Anthony Scaramucci Says The Left Should Focus On Why It Lost Elon Musk Rather Than &#8216;Demonizing&#8217; Him: Credits Tesla CEO For &#8216;Enormously Positive&#8217; Impact On Humanity</a>



Why It Matters: Meta Platforms is currently facing a series of legal challenges. In April, the company was preparing to battle an antitrust lawsuit with the U.S. government&#8217;s antitrust watchdogs, a case that could <a href="https://www.benzinga.com/tech/25/04/44780047/mark-zuckerbergs-empire-in-jeopardy-as-meta-faces-antitrust-battle-in-court">potentially force</a>&nbsp;Zuckerberg to divest Instagram.



Moreover, in May, an Austrian advocacy group, NOYB, issued a &#8220;cease and desist&#8221; letter to Meta, <a href="https://www.benzinga.com/25/05/45406329/austrian-group-questions-metas-legitimate-interest-in-using-eu-data-for-ai-threatens-legal-action-over-200-billion-making-money-is-more-important-than-the-rights-of-its-users">threatening to seek</a> an injunction and&nbsp;potentially leading to billion-euro damages claims&nbsp;over the company&#8217;s plans to use Europeans&#8217; personal data for AI training. 



These legal challenges, combined with the recent copyright infringement lawsuit, add to the mounting legal pressure on Meta Platforms.



Meta holds a momentum rating of 87.91% and a growth rating of 92.78%, according to Benzinga's Proprietary <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Edge Rankings</a>. The Benzinga Growth metric evaluates a stock&#8217;s historical earnings and revenue expansion across multiple timeframes, prioritizing both long-term trends and recent performance.



On a year-to-date basis, Meta stock surged 14.8%.



<ul class="wp-block-list">
<li>READ MORE:&nbsp;<a href="https://benzinga.com/news/politics/25/06/45785484/trump-cant-demand-lower-rates-while-creating-inflation-with-tariffs-and-money-printing-says-ross-ge" target="_blank" rel="noreferrer noopener">Trump Can&#8217;t Demand Lower Rates While &#8216;Creating Inflation&#8217; With Tariffs And Money Printing, Says Ross Gerber — Backs Fed&#8217;s Patience</a></li>
</ul>



Image via Shutterstock



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

News

Markets

Tech

Eminem's Music Publisher Sues Meta For $109 Million Over Alleged Song Theft

President Donald Trump has suspended the entry of foreign nationals seeking to study at Harvard University for an initial six months, escalating an ongoing federal dispute with the Cambridge-based institution. 



What Happened: Trump&#8217;s proclamation cited national security concerns, stating Harvard has &#8220;demonstrated a history of concerning foreign ties and radicalism&#8221; with &#8220;extensive entanglements with foreign adversaries,&#8221; including China, Reuters reported. 



The directive targets international students who comprise roughly 25% of Harvard&#8217;s student body amid broader tensions over alleged Chinese academic ties and national security concerns.



The directive allows extensions beyond six months and instructs the State Department to consider revoking current Harvard students&#8217; academic visas.



The suspension follows Homeland Security Secretary Kristi Noem&#8216;s May 22 revocation of Harvard&#8217;s Student and Exchange Visitor Program certification. A federal judge temporarily blocked the action, prompting the administration to pursue a lengthier administrative process instead.



Harvard called the proclamation &#8220;yet another illegal retaliatory step&#8221; violating First Amendment rights. The university argues the administration is retaliating for Harvard&#8217;s refusal to accept demands for governance control, curriculum changes, and faculty ideology oversight.



See Also: <a href="https://www.benzinga.com/news/politics/25/06/45786416/joe-biden-calls-trump-probe-a-distraction-from-disastrous-gop-bill-aiming-to-raise-costs-for-americans-all-to-pay-for-tax-breaks-for-the-ultra-wealthy">Joe Biden Calls Trump Probe A &#8216;Distraction&#8217; From &#8216;Disastrous&#8217; GOP Bill Aiming To Raise Costs For Americans: &#8216;All To Pay For Tax Breaks For The Ultra-Wealthy&#8217;</a>



Why It Matters: The administration has frozen billions in federal grants and proposed ending Harvard&#8217;s tax-exempt status. <a href="https://www.benzinga.com/general/education/25/05/45664141/trump-administration-to-revoke-visas-of-chinese-students-tied-to-ccp-or-critical-fields-tightens-screening">Harvard enrolled</a> nearly 6,800 international students in 2024-2025.



The administration has already revoked over 1,500 student visas across 222 schools, creating institutional uncertainty. Japan&#8217;s Education Minister Toshiko Abe announced that universities would <a href="https://www.benzinga.com/news/25/05/45663308/japans-education-minister-calls-on-universities-to-take-in-displaced-harvard-students-after-trump-ban-university-of-tokyo-leads-support-effort">welcome displaced Harvard students</a>, including 110 Japanese students currently enrolled.



Trade tensions complicate the situation, with Treasury Secretary Scott Bessent describing <a href="https://www.benzinga.com/25/05/45685544/scott-bessent-says-us-china-trade-talks-at-stalemate-need-trump-and-xi-jinping-touch-to-break-the-deadlock">U.S.-China negotiations</a> as &#8220;stalled&#8221; and requiring direct involvement from Trump and President Xi Jinping to resolve. Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45786438/california-move-to-takeover-crypto-left-unclaimed-in-exchanges-spurs-debate-golden-state-robbing-citizens-or-just-following-precedents">California Move To Takeover Crypto Left Unclaimed In Exchanges Spurs Debate: Golden State Robbing Citizens Or Just Following Precedents?</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: f11photo on Shutterstock.com

Education

Trump Suspends Entry Of Foreign Students To Harvard For Six Months, Citing National Security —University Calls Move 'Illegal Retaliatory Step'

The CNN Money Fear and Greed index showed some decline in the overall market sentiment, while the index moved to the &#8220;Neutral&#8221; zone on Wednesday.



U.S. stocks settled mixed on Wednesday, with the Dow Jones index snapping a four-session winning streak.



Yext Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YEXT#NYSE">YEXT</a>) shares jumped 32% on Wednesday after the company raised its FY26 adjusted EPS guidance above estimates. Dollar Tree Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>) shares dipped over 8% after the company posted first-quarter results.



On the economic data front, the ISM services PMI dipped to 49.9 in May versus 51.6 in the previous month and also missed market estimates of 52. U.S. private businesses added 37K workers to their payrolls during May, versus a revised 60K gain in the previous month.



Most sectors on the S&amp;P 500 closed on a positive note, with communication services, materials and real estate stocks recording the biggest gains on Wednesday. However, energy and utilities stocks bucked the overall market trend, closing the session lower.



The Dow Jones closed lower by around 92 points to 42,427.74 on Wednesday. The S&amp;P 500 gained 0.01% to 5,970.81, while the Nasdaq Composite climbed 0.32% to 19,460.49 during Wednesday's session.



Investors are awaiting earnings results from Ciena Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIEN#NYSE">CIEN</a>), The Toro Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTC#NYSE">TTC</a>) and Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) today.



What is CNN Business Fear &amp; Greed Index?



At a current reading of 54.3, the index moved to the &#8220;Neutral&#8221; zone on Wednesday, versus a prior reading of 56.1.



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



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/06/45767953/jim-cramer-arrowhead-pharmaceuticals-doesnt-have-the-horses">Jim Cramer: Arrowhead Pharmaceuticals Doesn&#8217;t &#8216;Have The Horses&#8217;</a> </li>
</ul>



Photo courtesy: Shutterstock

Dow Snaps 4-Session Win Amid Weak Economic Data: Investor Sentiment Declines, Fear & Greed Index Moves To 'Neutral' Zone

Leading cryptocurrencies slipped Tuesday after weak private-sector job growth dampened investor sentiment.



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 9:30 p.m. ET)</th></tr></thead><tbody><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>-0.68%</td><td>$105,032.58</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-0.27%</td><td>$2,610.06</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-2.64%</td><td>$0.1882</td></tr></tbody></table></figure>



What Happened: Bitcoin dipped to an intraday low of $104,232.70 in early trading hours and fluctuated between the low $105,000s and high $104,000s for the rest of the day.



Ethereum surged to $2,670 but failed to sustain the rally, retreating to the early-$2,600 region. Compared to Bitcoin, the second-largest cryptocurrency recorded higher trading volumes during the day.



These moves led to the liquidation of nearly $150 million worth of bullish bets, while $64 million in shorts were erased.&nbsp;



That said, about $492 million in Bitcoin shorts were at the risk of liquidation if Bitcoin reclaims $107,000.



Bitcoin's Open Interest declined by 0.47% in the last 24 hours, matching the fall in its spot price. Interestingly, the majority of the top traders on Binance with open BTC positions placed bullish bets on the apex cryptocurrency.



The "Greed" sentiment weakened from 62 to 57 in the last 24 hours, according to the Crypto Fear &amp; Greed Index. 



Top Gainers (24-Hours)



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 9:30 p.m. ET)</th></tr></thead><tbody><tr><td>DeXe (DEXE)</td><td>+9.35%</td><td>$9.79</td></tr><tr><td>SPX6900 (SPX) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+5.14%</td><td>$1.15</td></tr><tr><td>Lido DAO (LDO)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+4.84%</td><td>$0.8877 </td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.3 trillion, following a dip of 0.63% in the last 24 hours.&nbsp;



Stocks were a mixed bag on Wednesday. The Dow Jones Industrial Average slipped 91.90 points, or 0.22%, to end at 42,427.74. The S&amp;P 500 eked out a narrow gain of 0.01% to close at 5,970.81. The tech-focused Nasdaq Composite rose 0.32% to finish at 19,460.49.



Dow's correction comes after <a href="https://www.benzinga.com/markets/economic-data/25/06/45768817/us-private-sector-hiring-slows-the-most-in-2-years-powell-must-now-lower-the-rate-trump-says">private-sector job growth</a> plunged to a more than two-year low in May, raising investor concerns that trade headwinds are beginning to bite.



Trump, who has been critical of the Federal Reserve's policy lately, pressed Chair Jerome Powell to cut interest rates after the numbers were out.



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



Analyst Notes: Blockchain research firm Santiment noticed a significant spike in Bitcoin's new wallets this week, even as it consolidated around $105,000.



"Growth in a network&#8217;s on-chain activity is generally a good sign. This is something to keep an eye on as crypto markets range," Santiment added.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f4ca; Bitcoin&#39;s on-chain activity has seen sharp rises this week as its price hovers just below $105K: &#x1f4c8; May 29th: 556,830 new <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> wallets created (Highest since December 2, 2023) &#x1f504; June 2nd: 241,360 coins circulated (Highest since December 8, 2024) Growth in a network&#39;s… <a href="https://t.co/2DxknVXrKT">pic.twitter.com/2DxknVXrKT</a>&mdash; Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1930415139846508700?ref_src=twsrc%5Etfw">June 5, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Widely followed cryptocurrency analyst Michaël van de Poppe projected that the market is preparing for a "massive breakout."



He said that the U.S. Dollar Index and bond yields have begun to fall, while the Chinese yuan has strengthened against the dollar—a precursor to Ethereum's rally.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The markets are preparing for a massive breakout. &#8211; CNH/USD continues to go up &#8211;&gt; <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> usually follows few days after. &#8211; DXY continues to fall. &#8211; Yields are coming down. This means that we&#39;re at the actual low of the business cycle. <a href="https://t.co/Sbzzl87mvR">pic.twitter.com/Sbzzl87mvR</a>&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1930346540855427414?ref_src=twsrc%5Etfw">June 4, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo Courtesy: Travis Wolfe on Shutterstock.com



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



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45777944/jpmorgan-to-accept-crypto-linked-etfs-as-loan-collateral">JPMorgan To Accept Crypto-Linked ETFs As Loan Collateral</a></li>
</ul>

Cryptocurrency

Movers

Trading Ideas

$BTC

$DOGE

$ETH

Bitcoin, Ethereum, Dogecoin Slide On Weaker-Than-Expected Job Growth: Analyst Predicts 'Massive Breakout' Incoming For Markets—Here's Why

Renowned TV host Jim Cramer is sounding the alarm about a high-stakes supply chain threat from China, which poses a critical risk to U.S. industries. 



What Happened: On Wednesday, in a post on X, Cramer joined the growing chorus of executives, economists, and policymakers, raising concerns regarding China&#8217;s tightening grip on the rare-earth supply chain.



Specifically referring to neodymium and praseodymium magnets, which are essential components in electric vehicles, consumer electronics, and data center infrastructure, Cramer said, &#8220;The Chinese could really hurt us with these magnets,&#8221; adding that &#8220;everything from autos to data centers&#8221; stands to be impacted. 



See Also: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45784755/elon-musk-who-called-trumps-one-big-beautiful-bill-a-disgusting-abomination-responds-to-coinbase-ceos-warning-that-bitcoin-could-replace-dollar">Elon Musk, Who Called Trump&#8217;s &#8216;One Big Beautiful Bill&#8217; A &#8216;Disgusting Abomination,&#8217; Responds To Coinbase CEO&#8217;s Warning That Bitcoin Could Replace Dollar If Congress Isn&#8217;t Held Accountable</a>



The host of CNBC&#8217;s Mad Money says that &#8220;this could get serious,&#8221; as experts warn that these restrictions could <a href="https://www.benzinga.com/news/topics/25/05/45708426/chinas-rare-earth-magnet-restrictions-threaten-auto-production-could-result-in-shutdown-of-assembly-lines-report">shut down assembly lines</a> within a matter of weeks. 



With China controlling 90% of the total processing capacity of these magnets worldwide, the country imposed restrictions on their exports in April, along with other rare Earth elements, as a retaliatory measure against President Donald Trump&#8217;s &#8220;Liberation Day&#8221; tariffs.



<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The Chinese could really hurt us with these magnets, everything from autos to data centers. This could get serious!!&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1930421568305246257?ref_src=twsrc%5Etfw">June 5, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Why It Matters: That being said, some experts are optimistic about establishing a <a href="https://www.benzinga.com/markets/25/04/45005825/us-has-tons-of-solutions-to-secure-rare-earth-production-if-china-halts-exports-experts-say-but-warn-of-significant-challenges">domestic rare-earth supply chain</a>, with Ian Lange of the Colorado School of Mines noting the existence of substitutes for these rare elements and manufacturers&#8217; ability to manage without them.



Other analysts have also pointed out the ongoing talks with Ukraine and <a href="https://www.benzinga.com/markets/commodities/25/02/43788546/ukraine-officials-stall-trumps-colonial-rare-earths-bid-prefer-mutually-beneficial-deal">Trump&#8217;s demands</a> for 50% ownership of the nation&#8217;s rare minerals, in exchange for continued financial and military support.



American miners are already boosting output to help meet the supply constraints, with American Resources Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AREC#NASDAQ">AREC</a>), a leading domestic player, having <a href="https://www.benzinga.com/news/small-cap/25/04/44901061/american-resources-doubles-rare-earth-output-bolsters-production-in-just-3-weeks">doubled the output</a> of its rare earths in recent weeks.



Price Action: Shares of American Resources were down 7.38% on Wednesday and 1.43% after hours. The stock is up 4.55% year-to-date. 



Other companies with exposure to these elements, however, spiked following Cramer&#8217;s take, with MP Materials Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MP#NYSE">MP</a>) and Australia&#8217;s Lynas Rare Earths Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LYSCF#OTC">LYSCF</a>) up 11.73% and 10.27% on Wednesday, respectively.



Photo courtesy: katz / Shutterstock.com



Read More:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/06/45779375/trump-hails-best-may-in-30-years-these-3-ai-infra-stocks-delivered-their-own-maga-moment">Trump Hails &#8216;Best May In 30 Years&#8217; — These 3 AI Infra Stocks Delivered Their Own MAGA Moment</a></li>
</ul>

Commodities

AREC

LYSCF

Jim Cramer Says The Chinese 'Could Really Hurt Us' As Beijing Tightens Grip On Rare Earth Magnets: Warns Of Threat To 'Everything' From Autos To Data Centers

On Wednesday, Cathie Wood&#8217;s Ark Invest made a significant move by selling a substantial number of shares in Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>). This decision comes amidst a brewing controversy surrounding the company&#8217;s alleged involvement in a surveillance program.



The Palantir Trade



Ark Invest&#8217;s flagship fund, ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>), offloaded 40,035 shares of the Alex Karp-led company. Based on the closing price of the day — $130.01, the value of this trade is estimated to be $5.2 million.



Palantir has recently been in the news due to allegations of its involvement in a surveillance program. The company has been accused of aiding the Trump administration in <a href="https://www.benzinga.com/markets/equities/25/06/45715850/trump-administration-silently-employs-palantir-to-gather-personal-data-of-each-american-raising-privacy-data-misuse-concerns-report">creating detailed profiles</a> of American citizens using federal data, as reported by Benzinga. Palantir has <a href="https://www.benzinga.com/markets/tech/25/06/45764231/palantir-says-it-doesnt-unlawfully-spy-on-americans-calls-report-alleging-use-by-trump-administration-for-surveillance-blatantly-untrue">denied these allegations</a>, stating that they do not &#8220;unlawfully&#8221; spy on Americans.



Notably, Palantir remains one of Ark&#8217;s top 10 holdings, making up 5.3% of the portfolio by weight. The market value of the PLTR holdings stands at $300.66 million, according to Ark data.



Other Key Trades:



<ul class="wp-block-list">
<li>Ark Invest sold 149,211 shares of Roblox Corp (RBLX) from its ARKK fund.</li>



<li>Ark Invest bought 99,637 shares of Guardant Health Inc. (GH) for its ARKK fund.</li>



<li>Ark Invest also bought 95,017 shares of Veracyte Inc. (VCYT) for its ARKK fund.</li>
</ul>



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="757" height="105" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04211215/Screenshot-2025-06-05-at-10.11.58.png" alt="" class="wp-image-938982" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04211215/Screenshot-2025-06-05-at-10.11.58.png 757w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04211215/Screenshot-2025-06-05-at-10.11.58-300x42.png 300w" sizes="(max-width: 757px) 100vw, 757px" /></a></figure>



Benzinga's Edge Stock Rankings indicate Palantir has positive Short, Medium and Long Price Trends. Here is how the stock ranks on <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">other important metrics</a>.



Photo Courtesy: ChrisStock82 on Shutterstock.com



Read Next: 



<ul class="wp-block-list">
<li><a href="https://benzinga.com/analyst-stock-ratings/analyst-color/25/06/45746797/is-a-bond-market-crash-coming-jamie-dimon-blackrock-ray-dalio-and-others-sound-the-alarm" target="_blank" rel="noreferrer noopener">Is A Bond-Market Crash Coming? Jamie Dimon, BlackRock, Ray Dalio And Others Sound The Alarm Debt Crisis Warning? Dimon, Dalio, BlackRock and Others Say Bond Market Risks Are Rising Fast</a></li>
</ul>



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

ETFs

ARKK

PLTR

Cathie Wood Dumps Another $5.2 Million Of Palantir Stock Amid Trump Administration-Linked Surveillance Controversy

Disruptive tech investor Cathie Wood doubled down on her bet that Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) will be a major winner in the booming artificial intelligence chip market.&nbsp;



Her firm ARK Invest has been actively buying AMD stock throughout<a href="https://www.benzinga.com/25/05/45396613/palantir-nvidia-amd-unitedhealth-tesla-why-these-5-stocks-are-on-investors-radars-today"> 2024 and 2025.&nbsp;</a>



Read Next:<a href="https://www.benzinga.com/markets/tech/25/06/45774499/elon-musks-optimus-could-herald-the-biggest-industry-in-history-billionaire-investor-marc-andreessen-says?utm_source=articleShare"> Elon Musk&#8217;s Optimus Could Herald The Biggest Industry In History, Billionaire Investor Marc Andreessen Says</a>



What To Know: Most recently on Tuesday, ARK Invest purchased 53,100 shares of AMD, totaling about $6.08 million. Tuesday's purchase of AMD stock followed an even larger buy of 97,068 shares on May 27, totaling over $10.7 million.&nbsp;



The move underscores Wood's bullish outlook on AMD's growth prospects within the semiconductor and AI chip sector. ARK's recent buys follow earlier purchases, including a $9.94 million buy in early 2025 and a series of accumulations through late 2024.



Wood has taken advantage of AMD's stock price pullbacks to build her position, with AMD shares down 25% over the past six months and recently hovering near $117. ARK's buys indicate Wood sees these levels as attractive entry points for long-term investment.&nbsp;



Why It Matters: Wood's approach is not limited to AMD alone; she has also<a href="https://www.benzinga.com/25/05/45635104/cathie-wood-dumps-9-9m-tesla-despite-musks-24-7-pledge-loads-up-on-nvidia-before-earnings"> been buying shares</a> of Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), aiming for broad-based exposure to the AI chip market rather than betting on a single winner. 



Wood invests in "disruptive tech" and <a href="https://www.benzinga.com/25/05/45319531/cathie-wood">has said that</a> AI will &#8220;disrupt the traditional world order&#8221; and drive hardware demand that will benefit both AMD and Nvidia as key suppliers in the sector.&nbsp;



Read Next:&nbsp;



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<li><a href="https://www.benzinga.com/analyst-stock-ratings/price-target/25/06/45727360/amazon-analyst-sees-robotics-unlocking-billions-in-savings?utm_source=articleShare">Amazon Analyst Sees Robotics Unlocking Billions In Savings</a></li>
</ul>



Photo: Shutterstock

Large Cap

Specialty ETFs

NVDA

Cathie Wood Snaps Up More AMD Shares As ARK Invest Bets Big On Chip Stocks

ChargePoint Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHPT#NYSE">CHPT</a>) released its first-quarter results after Wednesday's closing bell. Here's a look at the <a href="https://www.benzinga.com/pressreleases/25/06/b45780278/chargepoint-reports-first-quarter-fiscal-year-2026-financial-results">details from the report. </a>



The Details: ChargePoint reported quarterly losses of six cents per share, which met the analyst consensus estimate. Quarterly revenue came in at $97.64 million, which missed the Street estimate of $100.53 million and is a decrease from revenue of $107.04 million from the same period last year.



Networked charging systems revenue for the first quarter was $52.1 million, down 20% from $65.4 million in the prior year&#8217;s same quarter. Subscription revenue was $38 million, up 14% from $33.4 million from the same period last year.



Read Next: <a href="https://www.benzinga.com/news/space/25/06/45724938/space-stocks-weekly-countdown-rocketlab-gets-analyst-love-while-virgin-galactic-slides-into-june?utm_source=articleShare">Elon Musk&#8217;s Optimus Could Herald The Biggest Industry In History, Billionaire Investor Marc Andreessen Says</a>



&#8220;In Q1, ChargePoint continued to improve key metrics — including subscription margin and overall gross margin — while also announcing partnerships and products that are expected to deliver meaningful growth,&#8221; said Rick Wilmer, CEO at ChargePoint. 



Outlook:&nbsp;ChargePoint sees&nbsp;second-quarter revenue in a range of&nbsp;$90 million to $100 million, versus the $108.07 million&nbsp;analyst estimate.



CHPT Price Action: According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, ChargePoint stock was down 10.12% at 79 cents in Wednesday's extended trading after climbing 13.16% in the regular session.



Read Next:&nbsp;



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Photo: Shutterstock

Earnings

Guidance

After-Hours Center

ChargePoint Stock Sinks After Q1 Revenues Miss, Weak Q2 Guidance: Details

After the best May in 35 years, the US stock market has started June slowly.



Some traders are already talking about a "summer stall," while others expect the rally to continue reaching new all-time highs.



Having traded since the late 1980s, I've seen it all. But I've boiled the financial markets down to five core benchmarks that tell me everything I need to know.



There's so much financial news to keep tabs on right now – the ongoing trade war, interest rates and the tug-of-war between the Fed and Executive Branch, earnings, gold, oil, bellwether stocks like the Magnificent 7 (to say nothing of the other 8,000 optionable stocks in the market), and so much more.



But the truth is, 90% of the chatter around the financial markets is simply noise—a distraction from what's happening beneath the surface – and the best opportunities to profit.



So, the question is: How do you cut through the noise and focus ONLY on what matters?



In my more than three decades as a trader, I have boiled the financial markets down to just five core benchmarks.



These are what I call the&nbsp;Five Points of the Market&nbsp;– the five asset classes that drive the markets every single day:



<ul class="wp-block-list">
<li>Stocks</li>



<li>Bonds</li>



<li>Commodities</li>



<li>Currencies</li>



<li>Crypto</li>
</ul>



Now, this is incredibly broad. And it might sound like a lot to keep up with.



You're not wrong! In fact, these five asset classes represent the entire global economy: the $124 trillion stock market, the $140 trillion bond market, the $2.7 trillion crypto market, and so on.



You get the idea.



However, each asset class can be tracked by looking at a single benchmark and applying just a few basic trading concepts to how you interpret the data.



Today, I want to ensure that you can use this information to help you make the smartest—and most profitable—trading decisions.



<h2 class="wp-block-heading">NEW: Get Access to The Leaderboards That Reveal Tomorrow's Top Stocks</h2>



Updated daily, Benzinga's Top Stock Leaderboards highlight our best buys right now. Spot breakout opportunities before the crowd catches on—without the noise. Get access now and start using the same research trusted by hedge funds, analysts, and serious traders. Get started <a href="https://www.benzinga.com/premium/ideas/benzinga-edge/?">HERE</a>.



<h2 class="wp-block-heading">Five Benchmarks to Use to Decode the Markets Every Day</h2>



As I said, I keep tabs on the market by watching the five most powerful asset classes: Stocks, Bonds, Commodities, Currencies, and Crypto.



But those markets are vast, complex, and worth trillions. So, I use some of the biggest, most liquid instruments to track these massive markets.



<h3 class="wp-block-heading">Stocks: SPDR S&amp;P 500 ETF Trust (SPY)</h3>



The S&amp;P 500 Index is the most watched economic indicator in the world. The health of this group of stocks is seen as the benchmark for the entire universe of over 8,000 stocks.



Now, I'm not really interested in monitoring 500 stocks every day (I only really like 370 of them anyway).



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) is an exchange-traded fund that tracks the performance of the S&amp;P 500 Index. It is the most liquid security in the financial market.



SPY gives me a picture of the overall stock market. In one glance, I can tell you short-, medium- and long-term trends impacting the day's trading, not to mention what to look out for in the coming days.



SPY is a great way to gauge the health of the overall stock market. Its liquidity makes it an easy way to buy or trade the market.



Analyzing SPY also reveals the market's most powerful seasonal trends. November to April is the "best six months" seasonal pattern (with April being the strongest month for stocks overall). September, meanwhile, is the weakest month. These historical seasonal trends are important to consider against current market trends and data.



<h3 class="wp-block-heading">Bonds: iShares 20+ Year Treasury Bond ETF (TLT)</h3>



iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) is an exchange-traded fund that seeks to track the investment results of an index composed of U.S. Treasury bonds with remaining maturities greater than 20 years.



This gives us an excellent snapshot of the $140 trillion bond market.



TLT is an economic indicator that can serve as a leading indicator for the inflation outlook.



Longer-term bonds (like those with 20+ years until maturity) generate a yield curve – rates usually rise right along with the time horizon.



Long-term bond yield is reflective of future inflation, so it rises as TLT increases.



<h3 class="wp-block-heading">Commodities: SPDR Gold Shares (GLD) and the United States Oil Fund LP (USO)</h3>



Now, I don't need to monitor the thousands of commodities that make up the over $20 trillion commodities market.



That's because things like cobalt, lumber, and coffee don't really matter to the overall economic picture – and they certainly don't influence traders' decisions unless you specialize in trading obscure cobalt futures.



That's why I keep my focus on the only commodities that really drive markets: gold and oil.



For gold, I track SPDR Gold Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), an exchange-traded fund designed to track the price of gold. Rather than using derivatives to track gold, GLD is backed by actual physical gold, including 400-ounce London good delivery bars held in the HSBC Bank vault in London.



Why is the price of gold important? Well, gold is usually inversely correlated with the value of the U.S. dollar, and it's considered a safe haven during market turbulence. Many market experts (myself included) will tell you that exposure to gold is still a great hedge for any portfolio.



If I'm seeing signs of trouble in the stock market, a rise in the price of gold, as reflected in GLD's price, may indicate that traders are loading up ahead of a pullback or a correction.



Meanwhile, to track the oil market, I use the United States Oil Fund LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>). USO tracks the price of West Texas Intermediate (WTI) light, sweet crude oil by investing in futures contracts, and it can be a great short-term vehicle for trading oil.



Of course, rising oil prices could indicate increased demand due to economic expansion. Plummeting oil prices, meanwhile, can indicate an economic downturn.



Oil and gold both have seasonal patterns that occur throughout the year, and we pay close attention to both.



<h3 class="wp-block-heading">Currencies: Invesco DB US Dollar Index Bullish Fund (UUP)</h3>



The U.S. dollar is the world's reserve currency and the most-watched currency in the world.



A strong dollar can negatively correlate with stocks. Over the last several years, when the dollar has surged, stocks have fallen.



So, I like to monitor Invesco DB US Dollar Index Bullish Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) for signs of a strengthening or weakening dollar to help inform my trading.



For example, if we're in the middle of a seasonal bear pattern and the dollar is getting stronger, that could give me additional confirmation that a bearish stock or option trade is the way to go.



Likewise, if the Money Calendar predicts a bullish week and we see weakness in the dollar, it may be time to go long.



<h3 class="wp-block-heading">Crypto: Bitcoin (BTC) and Ethereum (ETH)</h3>



Bitcoin (BTC) is the world's first and largest cryptocurrency, representing nearly 60% of the $2.7 trillion crypto market.



It's the number one indicator of the health of the crypto market—when Bitcoin is going up, bullish sentiment takes hold and spreads to thousands of smaller coins. When Bitcoin consolidates sideways, the entire market follows suit. When Bitcoin crashes, the market enters what we call a "Crypto Winter."



You get the idea. If you want to successfully trade the crypto market, you've got to pay attention to Bitcoin.



From time to time, we'll also take a look at Ethereum (ETH).



Like every other asset class I track, the crypto market is subject to seasonal patterns and regular cycles, just like stocks.



Money flows first into Bitcoin, then Ethereum, and then into smaller, more speculative altcoins.



So when Ethereum is outperforming Bitcoin, we like to track it because it can help us uncover those big, fast gains in the altcoin market, the kinds of coins I trade for 1000%+ gains.



Next week, I'll break down exactly what the charts are signaling as we head into summer and discuss the top stocks currently on my radar.



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



Photo: Shutterstock

Opinion

How To Know Where Stocks Are Heading Next

As long-dated Treasury yields hover just below 5% and Moody's strips the U.S. of its final AAA credit rating, investor sentiment toward U.S. government bonds has reached some of its most <a href="https://www.benzinga.com/news/treasuries">bearish levels in decades.</a>



Much of the gloom surrounds concerns over rising fiscal deficits, ballooning interest expenses and a perceived lack of political will to rein in debt. 



At the center of the debate is President Donald Trump's tax plan, dubbed as the &#8220;One, Big, Beautiful Bill,&#8221; which is now under fire for potentially worsening America's fiscal outlook.



According to new estimates from the Congressional Budget Office released Wednesday, the legislation is expected to slash federal revenue by $3.67 trillion through 2034, while cutting just $1.25 trillion in spending. 



The net effect: a $2.4 trillion increase in the federal deficit over the next decade.



This comes at a time when the U.S. deficit-to-GDP ratio already stands at 6%-7%, levels rarely seen outside of major crises such as wars or the COVID-19 pandemic.



 A growing deficit implies increased bond issuance, and with higher supply comes the need for more attractive yields to lure buyers—putting upward pressure on rates and downward pressure on bond prices.



With the national debt surging past $36.2 trillion in early June and long-term yields climbing, influential Wall Street voices like JPMorgan Chase CEO Jamie Dimon and former Bridgewater Associates CIO Ray Dalio are warning that a full-blown crisis is no longer a distant risk—but an inevitable consequence of <a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/06/45746797/is-a-bond-market-crash-coming-jamie-dimon-blackrock-ray-dalio-and-others-sound-the-alarm">unchecked borrowing in Washington.</a>



<h3 class="wp-block-heading">A Contrarian Opportunity?</h3>



Despite the bleak macro backdrop, a contrarian perspective would say that we may be approaching peak pessimism on U.S. Treasuries.



While the fundamentals and technicals remain unfavorable, a glimmer of hope may lie in seasonal performance trends.



According to data from Seasonax, the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>)—the largest ETF tracking long-dated U.S. government debt—has historically delivered strong summer returns.



Looking at the past 22 years, a strategy that buys TLT on June 10 and sells it on August 31 (or the nearest trading day thereafter) has delivered a median return of 4.3%. 



The strategy was profitable in 18 of the last 22 years, reflecting an 82% win rate. Notable rallies occurred in 2010 and 2019, with gains of 13.6% and 12.8%, respectively.



The biggest summer-season loss in this period occurred in 2003 when TLT fell 13.2%. However, most of the losing years showed only modest declines.



With a Sharpe ratio of 1.01 and a Sortino ratio of 1.87 during this window, the strategy has historically delivered positive risk-adjusted performance.



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><thead><tr><th>Start Date</th><th>$TLT Price </th><th>End Date</th><th>$TLT Price</th><th>% Change</th></tr></thead><tbody><tr><td>10 Jun 2003</td><td>54.68</td><td>02 Sep 2003</td><td>47.40</td><td>-13.32%</td></tr><tr><td>10 Jun 2004</td><td>48.87</td><td>31 Aug 2004</td><td>53.07</td><td>+8.58%</td></tr><tr><td>10 Jun 2005</td><td>59.59</td><td>31 Aug 2005</td><td>60.71</td><td>+1.89%</td></tr><tr><td>12 Jun 2006</td><td>56.43</td><td>31 Aug 2006</td><td>58.40</td><td>+3.48%</td></tr><tr><td>11 Jun 2007</td><td>57.55</td><td>31 Aug 2007</td><td>61.69</td><td>+7.19%</td></tr><tr><td>10 Jun 2008</td><td>65.07</td><td>02 Sep 2008</td><td>68.84</td><td>+5.80%</td></tr><tr><td>10 Jun 2009</td><td>66.17</td><td>31 Aug 2009</td><td>72.97</td><td>+10.27%</td></tr><tr><td>10 Jun 2010</td><td>75.14</td><td>31 Aug 2010</td><td>85.34</td><td>+13.58%</td></tr><tr><td>10 Jun 2011</td><td>79.14</td><td>31 Aug 2011</td><td>87.79</td><td>+10.92%</td></tr><tr><td>11 Jun 2012</td><td>105.81</td><td>31 Aug 2012</td><td>107.90</td><td>+1.97%</td></tr><tr><td>10 Jun 2013</td><td>97.22</td><td>03 Sep 2013</td><td>90.65</td><td>-6.76%</td></tr><tr><td>10 Jun 2014</td><td>98.92</td><td>02 Sep 2014</td><td>104.79</td><td>+5.94%</td></tr><tr><td>10 Jun 2015</td><td>105.76</td><td>31 Aug 2015</td><td>111.65</td><td>+5.57%</td></tr><tr><td>10 Jun 2016</td><td>126.51</td><td>31 Aug 2016</td><td>131.77</td><td>+4.16%</td></tr><tr><td>12 Jun 2017</td><td>119.60</td><td>31 Aug 2017</td><td>123.61</td><td>+3.35%</td></tr><tr><td>11 Jun 2018</td><td>117.68</td><td>31 Aug 2018</td><td>119.88</td><td>+1.87%</td></tr><tr><td>10 Jun 2019</td><td>130.50</td><td>03 Sep 2019</td><td>147.21</td><td>+12.80%</td></tr><tr><td>10 Jun 2020</td><td>160.84</td><td>31 Aug 2020</td><td>162.19</td><td>+0.84%</td></tr><tr><td>10 Jun 2021</td><td>142.54</td><td>31 Aug 2021</td><td>148.83</td><td>+4.41%</td></tr><tr><td>10 Jun 2022</td><td>113.77</td><td>31 Aug 2022</td><td>111.88</td><td>-1.66%</td></tr><tr><td>12 Jun 2023</td><td>102.22</td><td>31 Aug 2023</td><td>96.64</td><td>-5.46%</td></tr><tr><td>10 Jun 2024</td><td>90.89</td><td>03 Sep 2024</td><td>97.75</td><td>+7.55%</td></tr></tbody></table><figcaption class="wp-element-caption">Data: Seasonax</figcaption></figure>



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/economic-data/25/06/45768817/us-private-sector-hiring-slows-the-most-in-2-years-powell-must-now-lower-the-rate-trump-says">US Private Sector Hiring Slows The Most In 2 Years: &#8216;Powell Must Now Lower The Rate,&#8217; Trump Says </a></li>
</ul>



Photo: Shutterstock

Government

Regulations

Bonds

Treasuries

Econ #s

Peak Pessimism On US Treasuries? History Says A Summer Rally May Be Near

Correction: The price for gold was corrected. 



Wall Street's two-day rally lost momentum Wednesday as investors reassessed the economic outlook after weak job numbers and a surprise contraction in the U.S. services sector cast fresh doubt over the <a href="https://www.benzinga.com/news/econ-s">strength of the economy.</a>



By midday in New York, the S&amp;P 500 hovered flat around 5,970, the Nasdaq 100 edged 0.2% higher and the Russell 2000 of small caps slipped 0.2%, reflecting investor caution after consecutive sessions of gains.



The Institute for Supply Management's Services Purchasing Managers Index fell to 49.9 in May,<a href="https://www.benzinga.com/markets/economic-data/25/06/45773009/services-activity-slips-into-stagnation-in-may-as-cost-pressures-surge-to-november-2022-highs"> down from 51.6 in April</a>. It marked the first contraction since December and the weakest reading since June 2024, sharply missing consensus forecasts of 52%.



A reading below 50 signals contraction, and the drop raised questions about demand in a sector that represents nearly 80% of U.S. economic output. Adding to inflation concerns, the subindex tracking prices paid by service providers jumped to its highest since November 2022, hinting that firms are again facing rising input costs.



Private employers <a href="https://www.benzinga.com/markets/economic-data/25/06/45768817/us-private-sector-hiring-slows-the-most-in-2-years-powell-must-now-lower-the-rate-trump-says">added just 37,000 jobs in May</a>, well below April's 62,000 and far short of economists&#8217; expectations for 115,000, according to the National Employment Report from Automatic Data Processing Inc. The May print marked the lowest figure since March 2023, reinforcing concerns about a cooling labor market.



Bond markets reacted strongly to the disappointing data, with yields declining across the Treasury curve.



The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) surged 1.9%, on track for its best day since late November 2024, 



This rally in bonds came even as the Congressional Budget Office flagged on Wednesday significant fiscal risks from President Donald Trump's "One Big Beautiful Bill," which is projected to expand the federal deficit by $2.4 trillion over the next decade.



Gold traded near $3,387 per ounce as traders sought refuge from potential volatility, while oil prices fell 1% after two strong sessions, with West Texas Intermediate crude slipping to $62 per barrel.



Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) held steady around $105,000. 



<h1 class="wp-block-heading">Wednesday&#8217;s Performance In Major U.S. Indices, ETFs</h1>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Major Indices </td><td>Price</td><td>Chg (%)</td></tr><tr><td>Nasdaq 100</td><td>21,718.49</td><td>0.2%</td></tr><tr><td>S&amp;P 500</td><td>5,978.41</td><td>0.1%</td></tr><tr><td>Dow Jones</td><td>42,552.95</td><td>0.1%</td></tr><tr><td>Russell 2000</td><td>2,100.69</td><td>-0.2%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 12:55 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 0.1% up to $596.79.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) was steady at $426.08.</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 0.3% to $528.65.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) edged 0.2% lower to $208.67.</li>



<li>The&nbsp;Health Care&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) outperformed, up 0.8%; 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 1.7%.</li>
</ul>



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



<ul class="wp-block-list">
<li>CrowdStrike Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) dropped 5.6% after reporting quarterly revenue that came in slightly below Wall Street estimates, disappointing investors despite strong year-over-year growth.</li>



<li>Other stocks reacting to earnings included Hewlett Packard Enterprise Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>), up 0.54%; Guidewire Software Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GWRE#NYSE">GWRE</a>), up 16%; Dollar Tree Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>), down 6.6% and Thor Industries Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THO#NYSE">THO</a>), up 3.2%.</li>



<li>Wells Fargo &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) gained 1% after the Federal Reserve removed a long-standing asset cap that had restricted the bank's total assets to $1.95 trillion since 2018.</li>



<li>Companies slated to report earnings after the close include MongoDB Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDB#NASDAQ">MDB</a>) and Five Below Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NASDAQ">FIVE</a>). </li>
</ul>



Read now: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/analyst-stock-ratings/downgrades/25/06/45774924/apple-stock-too-pricey-analyst-warns-of-rising-competition-tariff-risks-favors-2-tech-giants">Apple Stock Too Pricey? Analyst Warns Of Rising Competition, Tariff Risks, Favors 2 Tech Giants</a> Photo: Shutterstock<a href="https://www.benzinga.com/analyst-stock-ratings/downgrades/25/06/45774924/apple-stock-too-pricey-analyst-warns-of-rising-competition-tariff-risks-favors-2-tech-giants"> </a></li>
</ul>

Macro Economic Events

Broad U.S. Equity ETFs

Small Cap

Economics

CRWD

GWRE

Stocks Stall On Weak Economic Data, Treasuries Eyes Best Rally In 7 Months: What's Driving Markets Wednesday? (CORRECTED)

An Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) analyst is moving to the sidelines with a downgrade on the stock, which has multiple headwinds, including competition, valuation, and earnings at <a href="https://www.benzinga.com/25/05/45620995/apple-stock-one-of-the-biggest-beneficiaries-in-us-india-trade-deal-producing-iphones-in-the-us-is-a-fairy-tale">risk from tariffs.</a>



The Apple Analyst: Needham analyst Laura Martin downgrades Apple stock from Buy to Hold and withdraws a previous price target of $225.



Read Also: <a href="https://www.benzinga.com/news/earnings/25/05/45152493/apple-reports-strong-q2-earnings-revenue-beat-eps-beat-installed-base-hits-all-time-high-across-all-segments-100-billion-buyback-and-more">Apple Reports &#8216;Strong&#8217; Q2 Earnings: Revenue Beat, EPS Beat, Installed Base Hits All-Time High Across All Segments, $100 Billion Buyback And More</a>



The Analyst Takeaways: With Apple trading at more than 26x forward price-to-earnings estimates and having major risks like competition, fundamentals and more, Martin downgraded the stock in a new investor note.



Martin said Apple's multiple is 50% above its 10-year average of 17x and is around 25% above the average S&amp;P 500 p/e ratio for 2026 of 21x.



"We caution that AAPL has material risks to its revenue growth, margins, and valuation multiple, as described in this note," Martin said.



The analyst said Apple stock could drop by $20 to $30 per share based on technical, with only around $15 per share of upside if everything goes right.



Martin prefers 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>) for the technology sector over Apple.



The analyst highlights that Apple's revenue growth and margins are the slowest among the big tech companies. A chart shows Apple's expected revenue growth of 3% in 2025 and 5% in 2026. That compares to Alphabet, with expected growth of 10% in 2025 and 11% in 2026, and Amazon's expected growth of 9% in 2025 and 10% in 2026.



"Most of the Big Tech competitors we cover have articulated a strategic vision that replaces AAPL's ecosystem. A key long-term strategic issue AAPL faces is that it can only use GenAI to improve its own ecosystem."



Martin said Alphabet can improve its Android ecosystem and its Cloud business can charge fees for other companies to use its LLM. The analyst said Amazon also benefits from having a large Cloud business that can collect a share of revenue for companies that build on its LLMs.



"AAPL does not own a Cloud business so this becomes a cost center, rather than a new rev and margin upside driver."



OpenAI is also named as a competitor with Martin highlighting the company's recent acquisition of Jony Ive's AI hardware startup. Ive previously spent 27 years with Apple helping design products like the iPod, iPhone, iPad, MacBook and Apple Watch.



"A collaboration between Ive and OpenAI threatens AAPL's dominance in design and user experience by a new well-funded competitor that owns a design team intimately familiar with AAPL's design philosophies and vulnerabilities."



Other concerns for Apple highlighted in the report include slowing smartphone demand, lower search default payments from Google, regulatory risks, and risks in China due to tariffs.



Martin said President Donald Trump&#8216;s proposal to impose a 25% tariff on iPhones not manufactured in the U.S. could prove costly, given Apple's reliance on China for manufacturing.



"We estimate that 85% of iPhones are currently manufactured in China. This near-total reliance on China has become a strategic liability."



The analyst said the tariffs could lower Apple's earnings per share by 80 cents per share over the next 12 months.



Martin said the three things that would make her positive about Apple stock are an iPhone replacement cycle, a lower share price, and growing advertising revenue.



"We move to the sidelines for AAPL owing to its expensive relative valuation, increasing fundamental growth headwinds, and rising competitive threats."



AAPL Price Action: Apple stock is up 0.9% to $205.16 on Wednesday versus a 52-week trading range of $169.21 to $260.10. Apple stock is down 16% year-to-date in 2025.



Read Next: 



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



Photo: hanohiki via Shutterstock.com

Analyst Color

Downgrades

Analyst Ratings

AAPL

AMZN

GOOG

GOOGL

Apple Stock Too Pricey? Analyst Warns Of Rising Competition, Tariff Risks, Favors 2 Tech Giants

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



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



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



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



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



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



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



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



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



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



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



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



Read Next:



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



 Photo: Shutterstock

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

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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



Photo: Shutterstock

RYAAY

4 Stocks To Buy On EU Tariff Pause

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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



Read Next:



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



Image by Wongsakorn 2468 via Shutterstock

SSNLF

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

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



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



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



Meanwhile, the 10-year Treasury bond yielded 4.47% and the two-year bond was at 3.96%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections show markets pricing a 98.7% likelihood of the Federal Reserve keeping the current interest rates unchanged in its June meeting. 



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Dow Jones</td><td>0.11%</td></tr><tr><td>S&amp;P 500</td><td>0.13%</td></tr><tr><td>Nasdaq 100</td><td>0.07%</td></tr><tr><td>Russell 2000</td><td>0.29%</td></tr></tbody></table></figure>



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



Cues From Last Session:



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



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



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



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



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



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



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>0.81%</td><td>19,398.96</td></tr><tr><td>S&amp;P 500</td><td>0.58%</td><td>5,970.37</td></tr><tr><td>Dow Jones</td><td>0.51%</td><td>42,519.64</td></tr><tr><td>Russell 2000</td><td>1.59%</td><td>2,102.98</td></tr></tbody></table></figure>



Insights From Analysts:



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



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



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



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



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



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



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



See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How to Trade Futures</a>



Upcoming Economic Data



Here&#8217;s what investors will keep an eye on Wednesday:



<ul class="wp-block-list">
<li>May&#8217;s ADP employment data will be out by 8:15 a.m. ET.</li>



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



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



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



Stocks In Focus:



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



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



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



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



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



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



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



Commodities, Gold, And Global Equity Markets:



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



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



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



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/06/45764818/bill-ackman-urges-end-to-fannie-mae-freddie-mac-conservatorship-says-will-enable-them-to-operate-more-successfully-and-efficiently">Bill Ackman Urges End To Fannie Mae, Freddie Mac Conservatorship: Says Will Enable Them To &#8216;Operate More Successfully And Efficiently&#8217; </a></li>
</ul>



Photo courtesy: godongphoto / Shutterstock.com

PYPL

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

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



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



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">WWDC Preview: Should be heavy on old school OS updates. Investors will be left asking the question, how long does <a href="https://twitter.com/search?q=%24AAPL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AAPL</a> have before they start losing customers? My take is at least two years.<a href="https://t.co/lL4tpHWof6">https://t.co/lL4tpHWof6</a>&mdash; Gene Munster (@munster_gene) <a href="https://twitter.com/munster_gene/status/1929934261865390290?ref_src=twsrc%5Etfw">June 3, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



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



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



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



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



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



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



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



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



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



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



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



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



Image via Shutterstock



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

MSFT

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

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



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



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



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



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



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



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It is important, albeit extremely hard work, to localize supply chains to mitigate geopolitical risk&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1929913821814206888?ref_src=twsrc%5Etfw">June 3, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



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



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



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



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



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



Read Next:



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



Photo courtesy: Shutterstock

TSLA

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

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



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



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



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



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



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



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



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



Top Gainers (24-Hours)



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



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



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



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



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



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



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



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Bitcoin at Key Support: Market Awaits Post-Correction Entry Opportunity "Currently targeting the $96,700 level, which represents a key support zone on the network and aligns with the average purchase price of short-term investors." – By <a href="https://twitter.com/abramchart?ref_src=twsrc%5Etfw">@abramchart</a> <a href="https://t.co/9ydqKL6j9r">pic.twitter.com/9ydqKL6j9r</a>&mdash; CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1929811790654791830?ref_src=twsrc%5Etfw">June 3, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



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



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



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">More <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> updates fams! Some people are yelling that this is the top of the cycle, which i think is way too early. To me its looks like ETH is doing healthy retests. One more hit and it&#39;s bound to break. We all gonna make it happen. If it is true, Ethereum could send towards… <a href="https://t.co/IaXm0a2cD2">pic.twitter.com/IaXm0a2cD2</a>&mdash; BitBull (@AkaBull_) <a href="https://twitter.com/AkaBull_/status/1929861982552760387?ref_src=twsrc%5Etfw">June 3, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo Courtesy: Antonio Gravante On Shutterstock.com



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

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