U.S. stock futures were positive on Friday after ending higher on Thursday. Futures of major benchmark indices were higher.



Investor nerves eased after President Donald Trump denied reports suggesting he was considering the removal of Federal Reserve Chair Jerome Powell.



Retail sales rebounded in June, rising 0.6% month-over-month after a revised 0.9% drop in May, far exceeding consensus expectations of a 0.1% gain.



Investors await American Express Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>) and Charles Schwab Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) earnings, scheduled to be released today.



Meanwhile, the 10-year Treasury bond yielded 4.44% and the two-year bond was at 3.89%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections show markets pricing a 97.4% likelihood of the Federal Reserve keeping the current interest rates unchanged in its July 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>0.17%</td></tr><tr><td>S&amp;P 500</td><td>0.15%</td></tr><tr><td>Nasdaq 100</td><td>0.15%</td></tr><tr><td>Russell 2000</td><td>0.12%</td></tr></tbody></table></figure>



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, were slightly higher in premarket on Friday. The SPY was up 0.16% at $629.07, while the QQQ advanced 0.18% to $562.79, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From Last Session:



Stocks in the financial, information technology, and consumer staples sectors recorded the biggest gains on Thursday, contributing to a higher close for U.S. stocks, with the S&amp;P 500 reaching a fresh closing record. Conversely, health care and real estate stocks ended the session lower, bucking the overall market trend.



PepsiCo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) shares climbed over 7% following better-than-expected earnings, while United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) shares added more than 3% after the airline topped earnings estimates.



On the economic data front, U.S. initial jobless claims declined by 7,000 from the previous week to 221,000 in the recent week, compared to market expectations of 235,000.



<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>0.75%</td><td>20,885.65</td></tr><tr><td>S&amp;P 500</td><td>0.54%</td><td>6,297.36</td></tr><tr><td>Dow Jones</td><td>0.52%</td><td>44,484.49</td></tr><tr><td>Russell 2000</td><td>1.20%</td><td>2,253.68</td></tr></tbody></table></figure>



Insights From Analysts:



A key takeaway for investors, according to Scott Wren, Senior Global Market Strategist at Wells Fargo Investment Institute, is the certainty of rising tariffs on numerous U.S. trading partners in the near and intermediate terms. While the recent &#8220;One Big Beautiful Bill Act&#8221; momentarily sidelined trade concerns, tariffs are firmly back on the policy agenda.



As the second-quarter earnings season unfolds, corporate profitability will be under intense scrutiny. Wells Fargo anticipates a mid-single-digit earnings growth rate for the second quarter, a slowdown from the previous quarter, reflecting both a slightly softer economy and the emerging tariff headwinds.



While some companies have benefited from &#8220;buying ahead&#8221; to mitigate tariff impacts, others are now feeling the pressure on their bottom lines.



Wren highlights that S&amp;P 500 companies have generally enjoyed robust operating profit margins, around 14-15% since late 2021, exceeding the long-term average. This provides some capacity to absorb tariff costs. However, investors will be keenly focused on how much of these additional expenses will be passed on to consumers and the ultimate impact on earnings.



Wells Fargo continues to favor Information Technology and Communication Services for their expected strong earnings. They also see improved comparisons later this year and into 2026 for Energy, Utilities, and Financials.



For now, the firm suggests trimming overvalued sectors like Industrials, Consumer Discretionary, and U.S. Small Cap Equities, anticipating better buying opportunities towards the end of the year and into 2026.



Meanwhile, Ryan Detrick from Carson Research highlighted that the S&amp;P 500 made its ninth all-time high on Thursday.



&#8220;Since 1957 (when it became 500 stocks) today was ATH number 1,250,&#8221; he 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">Number nine! Today was the 9th new all-time high of 2025 for the S&amp;P 500. Since 1957 (when it became 500 stocks) today was ATH number 1,250. Congrats to those who followed their investment plan back in April. <a href="https://t.co/SPQXDO7BnD">pic.twitter.com/SPQXDO7BnD</a>&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1945939522044272809?ref_src=twsrc%5Etfw">July 17, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



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



Upcoming Economic Data



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



<ul class="wp-block-list">
<li>June&#8217;s housing starts and building permits data will be out by 8:30 a.m., and preliminary consumer sentiment data for July will be released by 10:00 a.m. ET.</li>
</ul>



Stocks In Focus:



<ul class="wp-block-list">
<li>American Express Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>) was up 0.70% in premarket on Friday as analysts expect it to report earnings of $2.03 per share on revenue of $22.29 billion before the opening bell.</li>



<li>Charles Schwab Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) advanced 1.82% as it is expected to report earnings before the opening bell. Analysts estimate earnings of $1.07 per share on revenue of $5.65 billion.</li>



<li>3M Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>) was up 1.79% as analysts expect it to report earnings of $2.01 per share on revenue of $6.09 billion before the opening bell.</li>



<li>Schlumberger NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) was 1.24% higher as it is expected to report earnings before the opening bell. Analysts estimate earnings of 74 cents per share on revenue of $8.47 billion.</li>



<li>Interactive Brokers Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBKR#NASDAQ">IBKR</a>) rose 4.61% after posting better-than-expected second-quarter results. Its quarterly earnings of 51 cents per share beat the analyst consensus estimate of 45 cents. Quarterly revenue of $1.48 billion beat the Street estimate of $1.36 billion.</li>



<li>Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) fell 1.11% despite beating earnings expectations. It said that it will be interested in partnering with top YouTube creators—but only if their content aligns with the company&#8217;s premium streaming standards and monetization model.</li>



<li>LQR House Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YHC#NASDAQ">YHC</a>) slumped 61.95% after the company announced plans to integrate cryptocurrency and blockchain technology into its business model.</li>



<li>Telomir Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TELO#NASDAQ">TELO</a>) surged 125.62% following the announcement of promising data regarding the company's lead candidate, Telomir-1. The data indicated that Telomir-1 could reverse epigenetic gene silencing, restoring the tumor suppressor in human prostate cancer cells.</li>
</ul>



Commodities, Gold, And Global Equity Markets:



Crude oil futures were trading higher in the early New York session by 0.84% to hover around $68.11 per barrel.



Gold Spot US Dollar rose 0.29% to hover around $3,348.97 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was lower by 0.36% at the 98.3770 level.



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



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/07/46463595/dan-ives-picks-5-stocks-for-2nd-half-of-2025-nvidia-palantir-microsoft-and-more-golden-age-of-tech-is-here-with-ai-revolution">Dan Ives Picks 5 Stocks For 2nd Half Of 2025: Nvidia, Palantir, Microsoft And More: &#8216;Golden Age Of Tech Is Here With AI Revolution&#8217;</a></li>
</ul>



Photo courtesy: Shutterstock

Equities

IBKR

NFLX

SCHW

TELO

US Stocks Likely To Open Higher After Scaling Record Close: American Express, 3M, Charles Schwab Earnings In Focus

<a href="https://www.benzinga.com/money/what-is-ethereum-etf">Spot Ethereum ETFs</a> recorded a net inflow of $602 million on July 17, marking the second-highest single-day inflow in history.



The inflow surpassed that of Bitcoin spot ETFs, which saw $523 million in net inflows on the same day, their 11th consecutive day of positive flow, according to <a href="https://sosovalue.com/assets/etf/us-btc-spot">data</a> from SoSoValue.



Combined, U.S. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) spot ETFs have amassed $54.3 billion and $7.09 billion in cumulative net inflows, respectively.



What Happened: The surge in investor appetite comes amid renewed market optimism, robust macroeconomic indicators, and mounting regulatory clarity, themes echoed across institutional research from Glassnode and Coinbase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>).



The dramatic capital rotation into ETH products aligns with a broader shift noted by analysts. "BTC is participating, but this rally belongs to ETH," said Dr. Sean Dawson, Head of Research at Derive.xyz. "The technical setup, option flows, and liquidations all point to a meaningful structural shift in positioning."



Ethereum ETFs also led in total value traded on July 17, reaching $2.29 billion, compared to Bitcoin's $3.7 billion, as tracked across major issuers like BlackRock, Grayscale, Fidelity, and Ark Invest. 



Notably, BlackRock&#8217;s Ethereum ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETHA#NASDAQ">ETHA</a>) recorded the largest daily net inflow of $546.7 million and holds over $8.4 billion in net assets.



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46463794/1-5-billion-in-one-day-why-bitcoin-and-ethereum-etfs-are-running-wild">$1.5 Billion In One Day: Why Bitcoin And Ethereum ETFs Are Running Wild</a>



From a macro and on-chain lens, the report by Coinbase and Glassnode highlights that Ethereum's liquid supply rose 8% in Q2, while illiquid supply — coins held for over a year — declined by 6%. 



Concurrently, ETH's MVRV (Market Value to Realized Value) ratio swung from negative in Q1 to positive in Q2, confirming improving profitability among holders. 



The share of ETH in profit rose from under 40% to nearly 90% during the quarter.



"With macro tailwinds, falling rates, and ETF momentum aligning, the back half of 2025 is setting up to be Ethereum's strongest in years," Dr. Dawson added.



Bitcoin, meanwhile, maintained strong institutional demand. 



As noted in the Glassnode report, U.S. spot Bitcoin ETFs purchased over 225% of all newly mined BTC since January 2024, reflecting relentless buying pressure against a structurally constrained supply.



What&#8217;s Next: While Bitcoin&#8217;s ETF net assets remain dominant at $154.6 billion, Ethereum's growing share is being closely watched.



Ethereum spot ETFs now represent 4.19% of total ETH market cap, compared to 6.51% for Bitcoin.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/25/07/46452094/trump-wishes-bitcoin-ethereum-xrp-happy-crypto-week-it-is-all-part-of-make-america-great-again">Trump Wishes Bitcoin, Ethereum, XRP &#8216;Happy Crypto Week!&#8217; — &#8216;It Is All Part Of Make America Great Again&#8217;</a></li>
</ul>



Image: Shutterstock

Cryptocurrency

News

$BTC

$ETH

COIN

ETHA

Another $1.1 Billion: Is This Bitcoin, Ethereum ETF Buying Spree Sustainable?

Deutsche Bank has significantly raised its stock price target for MP Materials Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MP#NYSE">MP</a>) following a strategic investment from the Defense Department and a substantial contract with Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>).



What Happened: Deutsche Bank has more than tripled its stock price target for MP Materials, a rare-earth miner. The company&#8217;s shares are now projected to rise to $67, a substantial increase from the previous target of $20. This new target suggests an 11.18% upside from the closing price of $60.26 per share on Thursday, as <a href="https://www.cnbc.com/2025/07/17/mp-materials-defense-department-pentagon-apple-rare-earth-critical-mineral.html">reported</a> by CNBC.



The Pentagon&#8217;s strategic investment in MP Materials and Apple&#8217;s $500 million deal to purchase rare earth magnets from the company have significantly reduced the company&#8217;s operational risks, according to Deutsche Bank analyst&nbsp;Corinne Blanchard.



Blanchard stated, &#8220;The&nbsp;stock has now priced in&nbsp;the catalyst, and other potential&nbsp;catalysts are on the medium-term,&#8221; as she maintained the hold rating on MP.



See Also:&nbsp;<a href="https://benzinga.com/news/topics/25/07/46483073/bill-gates-says-elon-musk-was-super-mean-after-he-shorted-tesla-stock-but-hes-super-mean-to-so-many-p" target="_blank" rel="noopener">Bill Gates Says Elon Musk Was &#8216;Super Mean&#8217; After He Shorted Tesla Stock — &#8216;But He&#8217;s Super Mean to So Many People&#8217;</a>



Why It Matters: The rare earth minerals industry has been under the spotlight due to the U.S. government&#8217;s efforts to reduce its reliance on Chinese supply. This has led to a surge in the stock prices of companies in the <a href="https://www.benzinga.com/trading-ideas/movers/25/07/46429330/why-usa-rare-earth-usar-stock-is-skyrocketing-today">domestic critical minerals sector</a>, such as&nbsp;USA Rare Earth Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/USAR#NASDAQ">USAR</a>)



Despite the challenges, experts believe that the U.S. has&nbsp;multiple options to establish 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 supply chain</a> for rare earths&nbsp;within the next five years to replace China&#8217;s global monopoly. This includes substitutes for the seven restricted rare earths and the majority of the 17 rare earth elements and 50 critical minerals being present in the U.S.



As the U.S. faces a critical vulnerability in its supply chain concerning <a href="https://www.benzinga.com/markets/equities/25/07/46214341/china-showed-its-death-grip-on-rare-earths-during-trump-tariff-war-but-craig-shapiro-says-this-2-billion-plan-will-secure-us-supply-heres-how">rare earth supply</a>, economist&nbsp;Craig Shapiro&nbsp;asserts that this situation is fixable, and at a surprisingly manageable cost. This is evident in the recent developments at MP Materials, which have positioned the company as a strategic asset for the U.S.



Price Action: Apple closed Thursday at $210.02, slipping 0.06%, and edged up 0.10% in after-hours trading. MP Materials finished the day at $60.26, rising 2.92%, with an additional 0.56% gain after hours, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://benzinga.com/crypto/cryptocurrency/25/07/46479649/xrp-smashes-all-time-high-as-bitcoin-reclaims-119000-and-dogecoin-ethereum-continue-climb" target="_blank" rel="noopener">XRP Smashes All-Time High As Bitcoin Reclaims $119,000 And Dogecoin, Ethereum Continue Climb</a></li>
</ul>



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



Image via shutterstock

Markets

AAPL

USAR

Apple's $500 Million Rare Earth Deal With MP Materials Pushes Deutsche Bank To Triple Price Target — Analyst Says Catalyst 'Priced In'

Elon Musk-led artificial intelligence company, xAI, unveiled new technology that will help the company "sustainably" cool its Memphis data center.



What Happened: Taking to social media platform X on Thursday, the company announced it was constructing "the world's largest ceramic membrane bioreactor (MBR) to sustainably supply 13 million gallons per day of cooling water to our Colossus Supercomputer."



A Membrane Bioreactor is a combination of technologies used in wastewater treatment by microfiltration or ultrafiltration with a biological wastewater treatment process in which biological organisms or enzymes are used to filter the water.



xAI says the cooling apparatus will use untreated wastewater from a nearby wastewater treatment plant to cool the Colossus Supercomputer facility.



<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">xAI continues to lead the way with cutting-edge technology. We have commenced construction on the world's large ceramic membrane bioreactor (MBR) to sustainably supply 13 million gallons per day of cooling water to our Colossus Supercomputer and neighboring industrial plants in… <a href="https://t.co/8JvHEO9mHk">pic.twitter.com/8JvHEO9mHk</a>&mdash; xAI Memphis (@xAIMemphis) <a href="https://twitter.com/xAIMemphis/status/1945844314942165195?ref_src=twsrc%5Etfw">July 17, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Why It Matters: The announcement follows criticism of xAI by environmentalists and rights groups for its use of<a href="https://www.benzinga.com/markets/tech/25/07/46462096/elon-musks-xai-faces-backlash-from-naacp-environmental-groups-over-memphis-data-centers-gas-burning-turbine-permit"> Gas-burning turbines</a> to cool the data center, which critics say increases air pollution in Memphis and disproportionately affects Black-majority communities.



xAI also recently announced <a href="https://www.benzinga.com/markets/tech/25/07/46407767/elon-musks-xai-launches-grok-for-government-after-winning-200-million-pentagon-contract">Grok for Government</a>, after the company won over <a href="https://www.benzinga.com/markets/tech/25/07/46407317/elizabeth-warren-rips-pentagon-deal-with-elon-musks-xai-days-after-company-apologized-for-groks-horrific-behavior-what-could-possibly-go-wrong">$200M worth of defense contracts</a> from the Pentagon to scale the U.S. defense's AI capabilities.



Grok is also being offered on all Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) <a href="https://www.benzinga.com/markets/tech/25/07/46386564/will-your-tesla-car-support-grok-only-these-vehicles-will-be-able-to-run-elon-musk-led-xais-latest-ai-model">vehicles in the U.S.</a>, with an Advanced Micro Devices Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) Ryzen chipset powering the onboard vehicle computer.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/07/46410520/elon-musks-tesla-once-built-cars-in-a-tent-to-meet-production-goals-now-mark-zuckerberg-is-channeling-his-nemesis-as-meta-builds-ai-data-centers-in-tents">Elon Musk&#8217;s Tesla Once Built Cars In A Tent To Meet Production Goals: Now, Mark Zuckerberg Is Channeling His Nemesis As Meta Builds AI Data Centers In Tents</a></li>
</ul>



Photo courtesy: Shutterstock

Tech

TSLA

Elon Musk's xAI Unveils 'Sustainable' Way To Cool Memphis Data Center Amid Criticism From Environmental Rights Groups

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



U.S. stocks settled higher on Thursday, with the S&amp;P 500 surging to a fresh closing record during the session.



PepsiCo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) shares climbed more than 7% following better-than-expected earnings. United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) shares added over 3% after the airline topped earnings estimates.



On the economic data front, U.S. initial jobless claims declined by 7,000 from the previous week to 221,000 in the recent week, compared to market expectations of 235,000. U.S. retail sales rose 0.6% month-over-month in June, topping market expectations of a 0.1% increase. U.S. export prices increased 0.5% month-over-month in June, while import prices rose 0.1% in June.



Most sectors on the S&amp;P 500 closed on a positive note, with financial, information technology and consumer staples stocks recording the biggest gains on Thursday. However, health care and real estate stocks bucked the overall market trend, closing the session lower.



The Dow Jones closed higher by 230 points to 44,484.49 on Thursday. The S&amp;P 500 rose 0.54% to 6,297.36, while the Nasdaq Composite gained 0.75% at 20,885.65 during Thursday's session.



Investors are awaiting earnings results from American Express Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>), 3M Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>) and Schlumberger Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) today.



What is CNN Business Fear &amp; Greed Index?



At a current reading of 75.1, the index moved to the &#8220;Extreme Greed&#8221; zone on Thursday, versus a prior reading of 73.8.



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:<a href="https://www.benzinga.com/trading-ideas/short-ideas/25/07/46465973/top-2-defensive-stocks-that-are-ticking-portfolio-bombs-2"> </a>



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/short-ideas/25/07/46465973/top-2-defensive-stocks-that-are-ticking-portfolio-bombs-2">Top 2 Defensive Stocks That Are Ticking Portfolio Bombs</a> </li>
</ul>



Photo courtesy: Shutterstock

Pre-Market Outlook

S&P 500 Hits Fresh Closing Record Amid Upbeat Earnings: Investor Sentiment Improves, Fear Index Moves To 'Extreme Greed' Zone

Streaming giant Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) reported second-quarter financial results Thursday<a href="https://www.benzinga.com/earnings"> after market close.</a>



These are the key highlights.



What Happened: Netflix reported second-quarter revenue of $11.08 billion, up 16% year-over-year. The revenue total beat a Street consensus estimate of $11.04 billion according to data <a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0717">from Benzinga Pro.</a>



The company reported second-quarter earnings per share of $7.19, beating a Street consensus estimate of $7.06.



Operating margins were 34% in the quarter, beating a company estimate.



Netflix attributed more members, higher pricing and increasing in advertising revenue as the items that helped boost revenue and operating margins.



All of the company's regions saw year-over-year revenue growth, broken down as follows



<ul class="wp-block-list">
<li>UCAN: $4.93 billion, +15%</li>



<li>EMEA: $3.54 billion, +18%</li>



<li>LATAM: $1.31 billion, +9%</li>



<li>APAC: $1.31 billion, +24%</li>
</ul>



The growth for the UCAN region of 15% year-over-year outperformed the 9% growth in the first quarter and comes with a full quarter of price increases, the company said.



The company highlighted multiple series and movies that saw strong performance in the second quarter, highlighted by the release of the third season of "Squid Game" in June. With 122 million views, the season is already the sixth highest in Netflix history.



Overall, Netflix members watched 95 billion hours of content in the first half of the year.



Read Also: <a href="https://www.benzinga.com/trading-ideas/previews/25/07/46453824/netflix-q2-earnings-preview-squid-game-lift-is-clear-but-whats-the-next-blockbuster">Netflix Q2 Earnings Preview: &#8216;Squid Game&#8217; Lift Is Clear—But What&#8217;s The Next Blockbuster?</a>



What's Next: Netflix issued third-quarter guidance for revenue of $11.526 billion, up 17% year-over-year, &nbsp;and for earnings per share of $6.87. Both figures are above Street estimates according to data from Benzinga Pro.



The company also raised full-year revenue guidance to a range of $44.8 billion to $45.2 billion, up from a previous range of $43.5 billion to $44.5 billion.



Netflix is guiding for operating margins of 29.5% for the full year.



The company highlighted its remaining content slate for the second half of 2025 with items like "Wednesday," "Stranger Things," "Happy Gilmore 2," "Frankenstein" and the Canelo vs. Crawford live boxing match.



"Our goal is to offer a wide variety of quality series, films and games that our members love. This in turn drives engagement on Netflix and when people watch more and love what they watch, they stick around longer, recommend Netflix to others and place a higher value on our service," the company said.



Netflix said its happy with its recent upfront presentations with advertisers. The company expects to double its advertising revenue for the full year.



NFLX Price Action: Netflix stock is down 1% to $1,259.88 in after-hours trading Thursday versus a 52-week trading range of $588.43 to $1,341.15.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/entertainment/25/07/46425260/netflix-bets-womens-boxing-taylor-serrano-bout-pays-off">Netflix&#8217;s Bet On Women&#8217;s Boxing Pays Off: Here&#8217;s How Many People Watched Taylor Vs. Serrano</a></li>
</ul>



Photo: MartiBstock / Shutterstock.com

Earnings

Entertainment

Movers

Trading Ideas

General

Netflix Q2 Revenue Surges On Price Hikes & Ads—Q3 Likely To Echo The Gains

In a landmark development for the digital asset sector, the U.S. House of Representatives has passed the CLARITY Act on Thursday, a comprehensive legislative framework aimed at ending regulatory <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46448779/inside-trumps-oval-office-crypto-push-why-did-11-republicans-suddenly-change-their-vote">ambiguity in the crypto industry. </a>



The vote marks a major step toward establishing clear oversight responsibilities between federal agencies and giving innovators a roadmap for compliance.



The bipartisan legislation seeks to bring much-needed coherence to the digital asset ecosystem, which has long operated in a fragmented regulatory environment marked by overlapping enforcement actions and unclear jurisdiction. 



The CLARITY Act delineates authority between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), offering legal certainty around the classification of digital assets and the treatment of decentralized protocols.



In a note sent to Benzinga, Ji Hun Kim, President and Acting CEO of the Crypto Council for Innovation, called the bill's passage &#8220;a milestone for American innovation and economic leadership.&#8221;



"This legislation brings needed structure to a fragmented regulatory landscape by establishing fit-for-purpose rules," Kim said. "It clarifies the roles of the SEC and CFTC, strengthens investor protections, recognizes the importance of decentralization, and gives developers a clear path to build."



The legislation introduces formal definitions for digital assets, tokens, and decentralized networks. 



It also provides a safe harbor for crypto startups in their early phases, offering them a limited time window to develop products without the immediate threat of enforcement.



Moreover, the bill creates guidelines for stablecoin issuance and disclosures, setting the groundwork for future integrations with the traditional financial system. 



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46475904/344m-and-counting-what-is-ripple-co-founder-chris-larsen-planning-with-his-xrp-transfers">$344M And Counting: What Is Ripple Co-Founder Chris Larsen Planning With His XRP Transfers?</a>



This aligns with rising interest among financial institutions and regulators in leveraging blockchain-based payment solutions.



Gerry O&#8217;Shea, head of Global Market Insights at asset manager Hashdex, underscored the bill's significance, linking it with broader digital asset legislation such as the GENIUS Act, which has also passed both chambers.



"The GENIUS Act is the most significant piece of legislation in the history of the digital asset ecosystem," O'Shea said. "Its approval&#8230; signals a new era for the global payment system&#8230; Stablecoins could grow from a $250 billion to $3.7 trillion industry within five years."



The CLARITY Act's passage comes at a time when other jurisdictions—including the European Union with its MiCA regulation and countries like the UK and Japan—are pushing forward with their own crypto legal frameworks.



By moving proactively, U.S. lawmakers aim to ensure that American developers and businesses can remain competitive globally without being bogged down by unclear or inconsistent policies.



The bill will now advance to the Senate, where digital asset advocates hope the momentum continues.



"As the digital economy accelerates, this kind of legislative clarity is critical to ensuring the United States remains the global standard-setter," added Kim.



The legislation is widely viewed as a foundational step toward legitimizing and integrating blockchain-based technologies into mainstream financial infrastructure, with ramifications for developers, exchanges, investors, and consumers alike.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46475554/why-is-donald-trump-ignoring-elon-musks-call-for-phase-2-of-the-epstein-files">Why Is Donald Trump Ignoring Elon Musk&#8217;s Call For &#8216;Phase 2&#8217; Of The Epstein Files?</a></li>
</ul>



Photo: Shutterstock

Media

The US Just Took A Big Step Toward Crypto Regulation—Here's What The Clarity Act Actually Says

President Donald Trump is back on his trade war horse, announcing plans to implement 50% <a href="https://www.benzinga.com/markets/commodities/25/07/46322995/trump-copper-tariff-mining-stocks">tariffs on imported copper</a> on August 1st. While the chance of this 50% number being the final rate is slim, given past tariff climbdowns, copper tariffs would present a new headwind to an industry that's already fighting discouraging trends: homebuilders.



That&#8217;s because copper is used in a wide array of construction necessities, such as:



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



<li>Water pipes</li>



<li>Electrical wiring</li>



<li>Roofing foundations</li>



<li>Appliance components</li>
</ul>



With mortgage rates still at their highest in decades and other tariffs on lumber and steel already weighing on the construction industry, homebuilders may struggle to withstand another blow, let alone a knockout punch like 50% tariffs on copper. It&#8217;s worth noting that more than 60% of the copper used in the U.S. is imported.



Adding insult to injury is a slowdown in home price growth (just 1.3% in June, the lowest in two years), with outright declines in markets in the South and West. Homebuilders are under pressure, and these five stocks could be assets to avoid this summer.



<h2 class="wp-block-heading">Market Pressure Is Building—Matt Maley's Trading Plan Is Ready</h2>



The perfect storm is forming: earnings momentum, rising tariff threats, and a Fed wildcard. Matt Maley is tracking fast-moving setups and quietly oversold names that could pop—and on Sunday at 1:00 PM ET, he's revealing it all. Don't wait for headlines to hit. Grab your spot <a href="https://events2.benzinga.com/matt-maley-webinar-sun-july20-2025-registration/?utm_campaign=webinar072025&amp;utm_adType=sponsorad&amp;utm_ad=RD071925">HERE</a> before this session fills up.



Here are five homebuilding stocks to consider selling due to the latest tariff threat.



<h2 class="wp-block-heading">D.R. Horton</h2>



D.R. Horton (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) is no stranger to housing headwinds, as the company missed on EPS and revenue and revised down its full-year 2025 guidance projections during its April earnings report. The quarterly EPS figure of $2.58 represented a dip of more than 25% year-over-year (YoY). Despite a vast portfolio and a diverse market across 36 states, the largest U.S. homebuilder by volume received multiple downgrades and lowered price targets following its earnings release. The chart below suggests more potential trouble ahead.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXebKzejT9GcFcQwFAwLBiqgda5xQc4L4_bD_CKx3oEg_Hy8G0fHbcuw4TZza2q7uHGokSH9LsLrINjxA35wDyaPyoDRn0Vtb2iKuSqkw2l3DpuBwU12a9IGYw7xclNpRARSMbDIEw?key=wf-txSbPwBclfIWs9uBZyQ" alt=""/></figure>



The dreaded Death Cross formed on the daily chart just before the calendar flipped to 2025, and the stock is currently down more than 6% year-to-date (YTD). Investors hoping the stock had found a bottom were likely dismayed by the price rejection at the 200-day moving average. The Relative Strength Index (RSI) has returned to its May levels. Unless shares can puncture the 200-day MA, the price momentum will likely continue to tilt to the downside.



<h2 class="wp-block-heading">M/I Homes</h2>



M/I Homes (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MHO#NYSE">MHO</a>) has evolved from a small regional firm into a $3 billion company, focusing on single-family homes in markets across 13 states. However, the Southern market in Florida and the Carolinas has been looking shakier lately, and the company's Q1 2025 results were an ugly miss on both EPS and revenue. The $976 million revenue figure was the lowest since Q3 2023 and represented a YoY decline of more than 7%. M/I also runs tighter margins than larger competitors, such as D.R. Horton and Lennar, giving it less room to absorb tariff costs.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeiIMyIBysX06pTT-qoXtzPrR0r0OxtKAXvLn3K5TEgfXEgcbXXqGlEmw1z5Rh9WZr7fPTBeBsI_Xuq8Op7gAfPBRJvS85gqcPi6jmjGT4Ytoex263PPXXqQVkj9B8j-fu7bEMw2g?key=wf-txSbPwBclfIWs9uBZyQ" alt=""/></figure>



Another dreaded bearish signal has appeared on the MHO chart as well, the Head and Shoulders pattern. The Head and Shoulders is a trend reversal signal characterized by two similar peaks sandwiched between a higher peak, with the ‘neckline' acting as a potential support level. This pattern on the MHO chart suggests that the price may drop back under the neckline around the $100 level, and possibly further if support can't hold.&nbsp;



<h2 class="wp-block-heading">PulteGroup</h2>



PulteGroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>) is a homebuilding behemoth with a $22 billion market cap, nearly $18 billion in annual sales and operations across the country. PHM posted a top and bottom line beat on its Q1 2025 earnings report, but that didn't stop analysts from lowering their price targets as new orders fell 7% YoY and the company reduced its home delivery guidance to under 60,000 and trimmed gross margin expectations for the second half of 2025.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXckEojxF2fvHpfn0sIta_NXqEIfHLiet3REYy3_egzGYb5rBeWQ9VGkvknAwlYFhhUwGDX4xtO335fi0JqVzbplis7bIHxEpViet-9tbivGcnpg7fxJMJSzsAp0c9STmV-ZF-kHeg?key=wf-txSbPwBclfIWs9uBZyQ" alt=""/></figure>



The PHM chart shows a double whammy: a Death Cross plus a Head and Shoulders pattern indicating a potential reversal in the long-term uptrend. The stock's upward advancement was recently rejected at the 200-day MA as the RSI briefly hit the Overbought threshold of 70. PHM has an earnings catalyst approaching on July 22 that investors should closely monitor.



<h2 class="wp-block-heading">Lennar Corp.&nbsp;</h2>



Second in size only to D.R. Horton, Lennar (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) builds homes across the United States, with annual sales exceeding $35 billion. Lennar's diversified portfolio and focus on affordable, first-time single-family homes leave it somewhat more susceptible to tariffs and market-specific slowdowns in the West and South. Lennar reported Q2 earnings in June, missing EPS expectations while beating revenue projections. However, the revenue figure represented a more than 4% YoY drop, and gross margins continue to compress.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfvPAOACN6HZaldrevTIQkB1cNv2nUUsDtTMiuCkd2Dlq8Vul-OsL2Di3UpOOd6-7VmKVqH4dXvjpqQp-zZyLJFK1xqa8ECn6a987l9luu5_ogpDdckUJjRgsYnpXdFECM-q6suaw?key=wf-txSbPwBclfIWs9uBZyQ" alt=""/></figure>



LEN shares have been rangebound since the worst of Trump's tariffs were postponed, but there's evidence the next big move will be a downward one. The downtrend that began last September has lost steam but remains intact, and the RSI indicates that any potential reversal momentum is weakening. Long-term downtrends often require volume and momentum to break, and the LEN chart is currently showing the opposite.



<h2 class="wp-block-heading">Ferguson Enterprises</h2>



As the largest U.S. plumbing supplier and second-largest HVAC equipment supplier, Ferguson Enterprises (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FERG#NYSE">FERG</a>) is a &#8220;‘picks and shovels'&#8221; homebuilding play that could be hit especially hard by copper tariffs. Copper is incorporated into nearly every product Ferguson manufactures and distributes. While it has a steady business segment in commercial projects, its heavy reliance on residential homebuilding customers could put significant pressure on the company's gross margins.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeg48DYRJXcUoAw5Jh2qdzt1A7PZ-7m0CHZD-25sX8JPWbgb6uupqLzK9wN4pvu6LfG5ib54kGzRLwJ1tPEnGth-YUUYvXz80ZzgWqQRLZi-8hE7_CVMLWIZ-n0_z9yM9acrvvB?key=wf-txSbPwBclfIWs9uBZyQ" alt=""/></figure>



FERG may also have the most concerning chart of any company on our list today. After nearly doubling in 2023, the stock stalled repeatedly around the $215 level throughout 2024. This pattern has unfortunately continued into 2025, with the stock getting stuck at the same resistance level a fourth time following a post-tariff rally into July. The RSI also indicates fading momentum following an Overbought signal, a trend shift that may not be reflected in the stock's current price. A gap fill back to $180 in the next few weeks wouldn't be surprising considering recent history.



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

FERG

5 Homebuilding Stocks To Considering Selling On Copper Tariff Threats

Elon Musk's dream of having a top-selling electric pickup may be fleeting as the Cybertruck continues to<a href="https://www.benzinga.com/news/topics/25/07/46252465/cybertruck-dreams-shatter-as-musks-250k-goal-unravels"> see declining demand</a>. 



What Happened: A new report shows Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) falling to third place in the electric pickup sector and facing <a href="https://www.benzinga.com/25/04/44937440/tesla-q1-earnings-highlights-revenue-miss-eps-miss-tariff-landscape-and-changing-political-sentiment-cloud-guidance">weakened demand</a> for several vehicles across multiple regions.



New sales data from Cox Automotive, as shared by <a href="https://insideevs.com/news/766162/tesla-cybertruck-sales-q2-h1-2025/">InsideEVs</a>, shows Cybertruck trailing automotive giants Ford Motor Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) and General Motors Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) in Q2.



Here were the top-selling electric pickup trucks in the US for Q2:



<ul class="wp-block-list">
<li>F-150 Lightning: 5,842 units</li>



<li>GMC Hummer EV: 4,508 units</li>



<li>Tesla Cybertruck: 4,306 units</li>
</ul>



Ford took the crown for the sector in the second quarter. Still, the company&#8217;s F-150 units sold down for a second straight quarter. The Cybertruck, which Tesla launched in November 2023, experienced its third consecutive quarter of declining sales. Hummer sales include both the SUV and pickup truck versions as GM does not break them out individually.



Unlike the F-150 Lightning and the Cybertruck, Hummer sales increased quarter-over-quarter, gaining from the 3,479 reported in the first quarter. GM's Silverado EV also came close to the top three with 3,056 units sold in the second quarter. That&#8217;s up from 2,383 in the first quarter.



Read Also:<a href="https://www.benzinga.com/trading-ideas/long-ideas/25/07/46398394/tesla-just-staged-an-epic-comeback-in-this-crucial-european-market"> Tesla Just Staged An Epic Comeback In This Crucial European Market</a>



Why It's Important: Tesla's plans originally called for production capabilities to make 250,000 Cybertrucks annually. It appears that the company won't need to make that many per year and potentially ever based on current sales trends.



Tesla sold 38,965 Cybertrucks in 2024, which ranked fifth among all electric vehicles for the U.S. market. Ranking right behind in sixth place was the F-150 Lightning with 33,510 units sold.



An estimate from Electrek that the Cybertruck had fewer than 5,000 sales is now supported by Cox Automotive data.



In the recent second quarter, Tesla disclosed it sold 10,394 vehicles in what&#8217;s referred to as the &#8220;other&#8221; category, which includes older models, the Tesla Semi and Cybertruck. The other category hit its lowest level since the first quarter of 2023, which was before the Cybertruck was even available. That came after the other category had delivered more than 15,000 units for seven straight quarters and more than 20,000 units for three straight quarters.



The pickup category is a strong one for automakers; the traditional gas-powered F-150 is one of the U.S.&#8217;s bestselling vehicles annually.



Tesla originally planned to disrupt the electric pickup truck market. However, the company will likely lower Cybertruck production. Expect the EV giant to focus on better-selling vehicles, as well as new growth ambitions, such as robotaxis.



TSLA Price Action: Tesla stock trades at $321.65 on Thursday versus a 52-week trading range of $182.00 to $488.54. Tesla stock is down 15% year-to-date in 2025.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/07/46332361/musk-political-push-to-hurt-tesla-stock-71-say-stock-will-fall-in-next-12-months">Musk Political Push To Hurt Tesla Stock: 71% Say Stock Will Fall In Next 12 Months</a></li>
</ul>



Image: Shutterstock

Tesla Cybertruck Bet Not Paying Off? Ford, GM Outsell EV Giant

U.S. equities climbed on Thursday, with the S&amp;P 500 briefly testing a record high 6,300 level at midday in New York, bolstered by strong earnings and upbeat retail sales data that <a href="https://www.benzinga.com/markets">reinforced investor risk appetite</a>.



The Nasdaq 100 rose 0.9% to a fresh record above 23,000, while the Dow Jones Industrial Average gained 0.4% to 44,400. Small-cap stocks continued to outperform, with the Russell 2000 advancing 1.3%.



Retail sales rebounded in June, rising 0.6% month-over-month after a revised 0.9% drop in May, far exceeding consensus expectations of a 0.1% gain. Meanwhile, initial jobless claims fell to 221,000, the lowest since April, suggesting ongoing resilience in the labor market.



Investor nerves eased after President Donald Trump denied reports suggesting he was considering the removal of Federal Reserve Chair Jerome Powell.



Tech-led sector gains, with the combined market capitalization of the so-called Magnificent Seven stocks climbing to $18.4 trillion.



Bond market jitters persisted as 30-year Treasury yields touched 5%, though equity markets largely shrugged off the move.



The U.S. dollar strengthened 0.4%. Commodities rallied, driven by a 1.6% rise in oil prices to above $67 per barrel, while platinum hit its highest level since August 2014.



In cryptocurrencies, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) held steady around $118,870. Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) rose 1.3%, extending its winning streak to nine gains in the last 10 sessions.



<h2 class="wp-block-heading">Thursday&#8217;s Performance In Major U.S. Indices, ETFs</h2>



<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>Russell 2000</td><td>2,253.82</td><td>1.2%</td></tr><tr><td>Nasdaq 100</td><td>23,104.30</td><td>0.9%</td></tr><tr><td>S&amp;P 500</td><td>6,297.76</td><td>0.5%</td></tr><tr><td>Dow Jones</td><td>44,475.55</td><td>0.5%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 12:10 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;Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) rose 0.5% to $576.76.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 0.5% to $444.72.</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;rallied 0.8% to $561.85.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) soared 1.2% to $223.68.</li>



<li>The&nbsp;Technology&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, up 0.9%; the&nbsp;Health Care&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) lagged, down 0.8%.</li>
</ul>



<h2 class="wp-block-heading">Thursday&#8217;s Stock Movers</h2>



PepsiCo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) shares climbed over 6% after the beverage giant reported quarterly earnings and revenue that topped analyst expectations.



United Airlines Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) rose 5.7% earlier in the day, despite issuing a muted full-year earnings outlook. The company noted that its financial trajectory has become more predictable compared to the volatile first half of the year.



Earnings-driven stock moves included:



<ul class="wp-block-list">
<li>Abbott Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABT#NYSE">ABT</a>), down 8%</li>



<li>GE Aerospace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>), down 2.2%</li>



<li>Elevance Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELV#NYSE">ELV</a>), down 11%</li>



<li>Cintas Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTAS#NASDAQ">CTAS</a>), up 2.7%</li>



<li>U.S. Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>), down 1.4%</li>



<li>The Travelers Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>), up 2.8%</li>



<li>Citizens Financial Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFG#NYSE">CFG</a>), up 3.5%</li>
</ul>



Lucid Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) soared more than 40% after unveiling a partnership with Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) and autonomous vehicle startup Nuro to launch a robotaxi program. The initiative will deploy 20,000 autonomous vehicles, backed by a $300 million investment from Uber.



Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) is scheduled to report its earnings after the closing bell.



Read Now:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/author/piero-cingari">Defense Stocks Head Into Earnings At Record Highs — Is The Boom Just Beginning? </a></li>
</ul>



Photo: Shutterstock

Government

Large Cap

Regulations

Broad U.S. Equity ETFs

ETFs

CTAS

LCID

UBER

Nasdaq 100 Sets New Records, Small Caps Outperform: What's Moving Markets Thursday?

June retail sales smashed expectations, rising 0.6% month-over-month after two straight declines, signaling that U.S. consumers remain resilient despite elevated borrowing costs <a href="https://www.benzinga.com/news/econ-s">and tariff policy uncertainty.</a>



The latest data from the U.S. Census Bureau showed retail and food services sales climbing to $720.1 billion in June, up 0.6% from May and 3.9% higher than a year ago.



The rebound follows two months of contraction, including a revised -0.9% drop in May, and sharply beating economist forecasts of a modest 0.1% increase.



Spending was broad-based, with the biggest gains in miscellaneous store retailers (up 1.8%), motor vehicles and parts dealers (up 1.2%), and building material and garden equipment stores (up 0.9%).



Food services and grocery stores both rose 0.5%, and online retailers saw a 0.4% bump. Only a few categories lagged, including department stores, which declined 0.8%, and furniture and electronics, both of which fell 0.1%.



Even the retail sales control group—a key input for GDP that excludes food, autos, building materials and gasoline—rose a stronger-than-expected 0.5%, pointing to solid real consumption momentum.



&#8220;The death of the consumer has been greatly exaggerated – as a blowout retail sales number shows that consumers are still spending and are keeping the economy growing,&#8221; Chris Zaccarelli, chief Investment officer for Northlight Asset Management, said in an email. 



<h2 class="wp-block-heading">Consumer Power Defies Policy Pressure</h2>



The surprising strength in spending comes amid growing political pressure on the Federal Reserve. 



President Donald Trump has renewed his calls for lower interest rates and even brandished a draft letter to oust Fed Chair Jerome Powell—an unprecedented threat that could shake central bank independence.



Yet, the data suggests the Fed has little reason to rush into action. Consumers are still spending and the economy shows few signs of needing stimulus.



&#8220;The consumer came back to life in June after a weak performance in May. Other data like initial jobless claims and Philly Fed also painted the picture of a strong economy,&#8221; said David Russell, global head of market strategy at TradeStation. 



&#8220;While it's good for growth overall, it makes it harder to justify interest rate cuts. It could also help put a floor under the U.S. dollar following a big selloff in the first half,&#8221; he added. 



<h2 class="wp-block-heading">Labor Market Holds Firm, Inflation Ticks Up</h2>



Initial jobless claims fell by 7,000 last week to 221,000—the lowest since April—underscoring the continued tightness in the labor market.



Meanwhile, inflation continues to trend higher. Headline CPI rose 2.7% in June from a year earlier, marking the second consecutive monthly acceleration and the highest level since February.



Markets widely expect the Fed to hold interest rates steady at 4.25–4.50% at its next meeting. Futures pricing shows a 50% chance of a cut in September and fully prices in one 25-basis-point cut by October. A second move is now expected only in early 2026.



With consumers holding up, inflation firming and jobs still strong, the Fed has room to remain patient. For now, American shoppers are doing more than their part to keep the economy humming—and that may delay any rate relief Trump is pushing for.



Read now:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46454852/trump-fed-powell-odds-inflation-markets">Trump-Powell Feud Heats Up: Odds Of Fed Chair Ouster Spike</a></li>
</ul>



Photo: Shutterstock

Macro Economic Events

Economics

Federal Reserve

US Shoppers Keep Spending, Sending A Loud Message To Powell And Trump

At first glance, Advanced Micro Devices Inc. (NASDAQ: AMD) and Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) appear to belong in the same valuation range. Both trade in the 40x forward earnings range. But that's where the similarities end &#8211; and where the <a href="https://www.benzinga.com/quote/NVDA/news">pricing disconnect begins</a>.



<h2 class="wp-block-heading">Margins Matter — And Nvidia's Are Untouchable</h2>



Nvidia isn't just growing &#8211; it's a profit machine. With 58% operating margins, 86% TTM revenue growth, and a balance sheet that boasts $43 billion in net cash, Nvidia runs like Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) but grows like a startup with over 30% in operating margins and <a href="https://www.benzinga.com/markets/tech/25/07/46348639/apple-acquisition-buzz-60-billion-cash-reserve">loads of cash on its balance sheet</a>. Investors paying 40x forward earnings know exactly what they're getting: a dominant player in AI with unmatched pricing power, scale, and ecosystem control.



Read Also: <a href="https://www.benzinga.com/markets/equities/25/07/46463595/dan-ives-picks-5-stocks-for-2nd-half-of-2025-nvidia-palantir-microsoft-and-more-golden-age-of-tech-is-here-with-ai-revolution">Dan Ives Picks 5 Stocks For 2nd Half Of 2025: Nvidia, Palantir, Microsoft And More: &#8216;Golden Age Of Tech Is Here With AI Revolution&#8217;</a>



AMD, on the other hand, is still trying to prove it belongs in the same league. Yes, revenue is rebounding (+21.7% TTM), and yes, the MI300 chips offer a credible entry into the AI accelerator market. But AMD's 10% operating margin paints a different picture. This company is still weighed down by legacy businesses — PCs, gaming, and embedded — none of which are set to benefit meaningfully from the AI boom just yet.



<h2 class="wp-block-heading">AMD's Valuation Assumes It's Already Won — Has It?</h2>



So why is AMD trading at a forward P/E of 42.9x, nearly identical to Nvidia's 39.5x?



The answer might be misplaced optimism. Investors are pricing in a full-fledged AI breakout, without waiting for confirmation. AMD's valuation suggests it&#8217;s already playing at Nvidia's level, but the fundamentals don't support that story. Not yet.



This doesn't mean AMD isn't a good investment. It just means it's priced for a victory it hasn't achieved. Until AMD demonstrates that its AI revenue can scale — and its margins can follow — the current valuation may prove to be more hope than substance.



In a market obsessed with AI dominance, Nvidia's multiple is earned. AMD's looks borrowed — and the bill could come due if results don't back up the hype.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/07/46421404/nvidias-h20-china-play-cramers-huge-call-ignites-a-15-billion-ai-bonanza">Nvidia&#8217;s H20 China Play: Cramer&#8217;s &#8216;HUGE&#8217; Call Ignites A $15 Billion AI Bonanza</a></li>
</ul>



Photo: sdx15 / Shutterstock.com

Long Ideas

NVDA

Nvidia's A Startup With Apple's Margins - AMD's Just Priced Like One

U.S. Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>) edged past earnings estimates in the second quarter but fell short of revenue expectations, causing its shares to decline<a href="https://www.benzinga.com/movers" target="_blank" rel="noreferrer noopener"> in Thursday&#8217;s premarket trade.</a>



The company <a target="_blank" href="https://s203.q4cdn.com/711684571/files/doc_financials/2025/q2/2Q25-Earnings-Release.pdf" rel="noreferrer noopener">reported</a> second-quarter adjusted earnings per share of $1.11, beating the analyst consensus estimate of $1.07.



Quarterly sales of $7.004 billion (+2% year over year) missed the Street view of $7.052 billion.



Also Read: <a target="_blank" href="https://www.benzinga.com/markets/earnings/25/07/46419465/bny-mellons-strong-q2-profit-drives-higher-2025-guidance" rel="noreferrer noopener">Bank Of New York Mellon&#8217;s Strong Q2 Profit Drives Higher 2025 Guidance</a>



On a GAAP basis, U.S. Bancorp registered revenues of $6.975 billion, missing the analyst consensus estimate of $7.052 billion.



&#8220;Year-over-year top-line revenue growth, coupled with our continued expense discipline, resulted in 250 basis points of positive operating leverage, as adjusted, and an efficiency ratio of 59.2% for the quarter,&#8221; said the company&#8217;s CEO Gunjan Kedia.



Net interest income edged up by 0.7% year over year to $4.051 billion. Non-interest income soared 3.9% to $2.924 billion.



The company reported a net income of $1.815 billion, representing a 13.2% year-over-year increase.



U.S. Bancorp achieved a return on tangible common equity of 18.0%, a return on average assets of 1.08%, and maintained an efficiency ratio of 59.2%.



Average total loans increased 1.0% on a year-over-year basis and decreased 0.1% on a linked quarter basis, reflecting the impact of loan portfolio sales during the second quarter of 2025.



Total average loans and loans held for sale increased 1.7% on a year-over-year basis and 0.7% on a linked-quarter basis.



Provision for credit losses in the quarter under review decreased by 11.8% to $501 million from $568 million in the year-ago period.



&#8220;As we look ahead, we remain committed to executing on our strategic priorities and making disciplined progress towards achieving our medium-term financial targets,&#8221; Kedia added.



The company had a common equity tier 1 capital ratio of 10.7% as of June 30, 2025.



Outlook: U.S. Bancorp anticipates its full-year 2025 taxable-equivalent revenue will increase by 3%–5% compared to 2024.



For the third quarter, the company expects net interest income to be between $4.1 billion and $4.2 billion.



Price Action: USB shares are trading lower by 3.7% to $43.99 premarket at last check Thursday.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/earnings/25/07/46463845/pepsico-delivers-the-fizz-in-q2-sweetens-outlook-on-subdued-dollar-headwind" target="_blank" rel="noreferrer noopener">PepsiCo Delivers The Fizz In Q2, Sweetens Outlook On Subdued Dollar Headwind</a></li>
</ul>



Photo: Shutterstock

U.S. Bancorp Nails Q2 Profits But Stock Dips On Revenue Miss

Taiwan Semiconductor Manufacturing Co. (TSM) <a target="_blank" href="https://www.benzinga.com/topic/semiconductors" rel="noreferrer noopener">stock soared</a> Thursday after the contract chipmaker delivered <a target="_blank" href="https://investor.tsmc.com/english/quarterly-results/2025/q2" rel="noreferrer noopener">second-quarter results</a> that blew past analyst expectations, driven by insatiable global demand for its advanced processor technologies essential for artificial intelligence applications.



As a key supplier to tech giants like Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) for its graphics processing units (GPUs) and Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) for its smartphones, the company&#8217;s strong results underscore its critical role in the global technology ecosystem. The company also provided an optimistic revenue forecast for the third quarter, further boosting investor confidence.



Taiwan Semiconductor reported quarterly net sales of $30.07 billion (933.79 billion New Taiwanese dollars), up 38.6% year-over-year (Y/Y), topping the analyst consensus estimate of $30.04 billion. Net sales grew&nbsp;11.3% quarter over quarter (Q/Q).



Also Read: <a target="_blank" href="https://www.benzinga.com/markets/tech/25/07/46426323/what-to-expect-from-taiwan-semiconductor-q2-performance" rel="noreferrer noopener">What To Expect From Taiwan Semiconductor Q2 Performance?</a>



Net income and earnings per share were $398.27 billion New Taiwanese dollars and 15.36 New Taiwanese dollars per share (or $2.47), up by 60.7% Y/Y, topping the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst consensus estimate</a> of $2.37.



In U.S. dollar terms, revenue growth was 44.4% Y/Y and up by 17.8% Q/Q.&nbsp;The top-line performance&nbsp;topped <a target="_blank" href="https://www.benzinga.com/25/04/44857887/taiwan-semiconductor-q1-surges-41-in-sales-boosted-by-ai-chip-demand-expanded-margins" rel="noreferrer noopener">the&nbsp;company&#8217;s guidance</a> of&nbsp;$28.4 billion-$29.2 billion.



The company said 3-nm accounted for 24% of the total revenue, 5-nm accounted for 36%, and 7-nm technologies accounted for 14%. Advanced technologies (7nm and below) accounted for 74% of total wafer revenue.



By platform, High-Performance Computing&nbsp;(HPC) and Smartphone represented 60% and 27% of net revenue, respectively, while IoT, Automotive, DCE, and Others each represented 5%, 5%, 1%, and 2%.



From a geographic perspective, revenue from customers based in North America accounted for 75% of total net revenue in 2Q25, while revenue from China, Asia Pacific, Japan, and EMEA (Europe, Middle East, and Africa) accounted for 9%, 9%, 4%, and 3% of total net revenue, respectively.



<h2 class="wp-block-heading">Margin Profile</h2>



Taiwan Semiconductor&#8217;s AI technology moat helped it expand its quarterly gross margins by 540 bps to 58.6%. The operating margin expanded by 710 bps to 49.6%.



CFO Wendell Huang expects its business to be supported by strong demand for its leading-edge process technologies for the third quarter.



During the second quarter, net cash generated from operating activities totaled 497.07 billion New Taiwanese dollars ($17.05 billion). Capital expenditures for the company on a consolidated basis totaled $9.63 billion in the second quarter of 2025. The company&#8217;s cash and marketable securities stood at $90.36 billion at the end of the quarter.



<h2 class="wp-block-heading">Outlook</h2>



Taiwan Semiconductor&nbsp;guided third-quarter&nbsp;2025 revenue of $31.8 billion to $33.0 billion versus the $32.7&nbsp;billion <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">analyst consensus estimate</a>. It expects a gross margin of 55.5% to 57.5% and operating profit margins of 45.5% to 47.5%.



In a notable development, Taiwan Semiconductor&#8217;s Chairman, C.C. Wei, announced a <a target="_blank" href="https://www.benzinga.com/markets/tech/25/07/46283410/taiwan-semiconductor-shifts-focus-100-billion-usa-expansion" rel="noreferrer noopener">significant increase</a> in the company&#8217;s investment in U.S. chip manufacturing in March. This new commitment of $100 billion came in addition to the $65 billion previously pledged in April 2024 for three fabrication plants in Arizona, one of which was already operational.



Taiwan Semiconductor stock gained over 20% year-to-date and 57% in the last three months. During the same periods, the PHLX Semiconductor Index (which includes Taiwan Semiconductor) gained over 14% and 48%.



The stock also got a boost from this week&#8217;s <a target="_blank" href="https://www.benzinga.com/markets/tech/25/07/46412125/trumps-latest-move-on-ai-and-china-propels-chip-stocks" rel="noreferrer noopener">reports indicating the</a> Trump administration&#8217;s plans to announce roughly $70 billion in AI and energy investments in Pennsylvania, and the U.S. government&#8217;s move to ease certain chip export restrictions to China.



However, the company acknowledged in June <a target="_blank" href="https://www.benzinga.com/markets/tech/25/06/45739051/tsmc-ceo-admits-trump-tariffs-have-some-impact-on-chipmaker-but-demand-consistently-outpacing-supply-thanks-to-ai" rel="noreferrer noopener">potential future headwinds</a> due to President Donald Trump&#8217;s trade policies, particularly his threats of &#8220;reciprocal tariffs&#8221; on Taiwan. Taiwan is currently subject to 32% tariffs imposed in April and is engaged in trade discussions with the U.S. Furthermore, Trump previously indicated the possibility of additional tariffs on semiconductors.



According to Reuters, the company noted that key client Nvidia had recently been allowed by the U.S. government to&nbsp;resume sales&nbsp;to China of its H20 AI chip. Taiwan Semiconductor Chief Executive C.C. Wei told a press conference, &#8220;China is a big market, and my customer can continue to supply the chip to the big market, and it&#8217;s very positive news for them and in return it&#8217;s very positive news for Taiwan Semiconductor.&#8221;



However, Wei indicated that the momentum for fourth-quarter earnings might differ. &#8220;We are taking into consideration the possible impact of tariffs and a lot of other uncertainties, so we are becoming more conservative,&#8221; he said, though he added that Taiwan Semiconductor had yet to see any changes in customer behavior so far.



Price Action:&nbsp;TSM stock is trading higher by 4.10% to $247.30 premarket at last check Thursday.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/07/46387337/taiwan-semiconductors-top-supply-chain-executive-exits" target="_blank" rel="noreferrer noopener">Taiwan Semiconductor&#8217;s Top Supply Chain Executive Exits</a></li>
</ul>



Photo by Jack Hong via Shutterstock

Guidance

Nvidia-Supplier Taiwan Semiconductor On A Roll, Profit Explodes With Strong Margin Growth

U.S. stock futures were swinging between gains and losses on Thursday after ending higher on Wednesday. Futures of major benchmark indices were mixed.



Reports that President Donald Trump might be <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46454852/trump-fed-powell-odds-inflation-markets">getting ready to remove</a> Federal Reserve Chair Jerome Powell from his position have sparked fears about the Fed&#8217;s independence. These concerns led to a widespread rush into gold and a sell-off of the U.S. dollar.



Investors await Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) earnings and June&#8217;s retail sales data, scheduled to be released later today.



Meanwhile, the 10-year Treasury bond yielded 4.47% and the two-year bond was at 3.91%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections show markets pricing a 97.4% likelihood of the Federal Reserve keeping the current interest rates unchanged in its July 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>-0.12%</td></tr><tr><td>S&amp;P 500</td><td>0.02%</td></tr><tr><td>Nasdaq 100</td><td>0.09%</td></tr><tr><td>Russell 2000</td><td>-0.23%</td></tr></tbody></table></figure>



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, were slightly higher in premarket on Thursday. The SPY was up 0.075% at $624.69, while the QQQ advanced 0.17% to $558.23, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From Last Session:



Financial, real estate, and healthcare sectors led gains on Wednesday, contributing to a higher close for U.S. stocks. However, energy and communication services bucked the trend, finishing lower.



Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) reported better-than-expected second-quarter results, driven by robust gains in its global banking and trading divisions. Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) also posted strong second-quarter financial earnings.



On the economic data front, the Producer Price Index was flat in June, down from a 0.3% gain in May and below the 0.2% consensus forecast. On a year-over-year basis, producer prices rose 2.3%, the slowest pace since September 2024 and softer than the 2.5% economists had expected.



The Dow Jones index ended 231 points or 0.53% higher at 44,254.78, whereas the S&amp;P 500 index rose 0.32% to 6,263.70. Nasdaq Composite advanced 0.25% to 20,730.49, and the small-cap gauge, Russell 2000, also gained 0.99% to end at 2,226.98.



<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>0.25%</td><td>20,730.49</td></tr><tr><td>S&amp;P 500</td><td>0.32%</td><td>6,263.70</td></tr><tr><td>Dow Jones</td><td>0.53%</td><td>44,254.78</td></tr><tr><td>Russell 2000</td><td>0.99%</td><td>2,226.98</td></tr></tbody></table></figure>



Insights From Analysts:



While the <a href="https://www.benzinga.com/markets/economic-data/25/07/46461053/federal-reserves-beige-book-reveals-tariff-driven-profit-squeeze-as-businesses-avoid-price-hikes-what-it-means-for-consumers">Fed&#8217;s Beige Book</a>, released Wednesday, stated that businesses that did not raise prices or pass on the impact of tariffs to their customers are likely to take a hit on their profit margins.



Jeffrey Roach, the chief economist at LPL Financial, told <a href="https://www.benzinga.com">Benzinga</a> that "Investors should expect margin compression as businesses held off raising prices because of customers' growing price sensitivity."



Roach's macro quicktake was that Beige Book reveals "heavier margin compression" in the coming months, cautioning the investors and consumers.



&#8220;We&#8217;re hearing from a lot of businesses that a lot of companies are going to absorb tariffs in their margins over time, maybe three to five years in some cases, and slowly pass the costs along,&#8221; said Alex Coffey, senior trading and derivatives strategist at Schwab.



Meanwhile, Louis Navellier of Navellier &amp; Associates supported Trump calling out Powell and said &#8220;Obviously, President Trump will continue to bash Fed Chairman Jerome Powell and push for multiple key interest rate cuts, since higher rates are hindering real estate and other major sectors of the U.S. economy.&#8221;



Angelo Kourkafas, of Edward Jones, stated that earnings growth for the S&amp;P 500 is expected to slow in the second quarter to around 5% from the more than 10% in the prior two quarters.



However, he said that for the full year, estimates call for 8.5% growth, which, if realized, would be above the index&#8217;s long-term average of 6.5%.



&#8220;Lingering uncertainties suggest that there could be some more volatility around these expectations, but next year&#8217;s backdrop appears to be more favorable, as corporate profits may reaccelerate amid lower rates and modest fiscal stimulus from the tax bill,&#8221; he added.



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



Upcoming Economic Data



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



<ul class="wp-block-list">
<li>The initial jobless claims data for the week ended July 5, June retail sales, import price index, and Philadelphia Fed manufacturing survey will all be out by 8:30 a.m. ET.</li>



<li>May&#8217;s business inventories data and July&#8217;s home builder confidence index data will be out by 10:00 a.m. ET.</li>



<li>Fed Governor Adriana Kugler will speak at 10:00 a.m., San Francisco Fed President Mary Daly will speak at 12:45 p.m., Fed Governor Lisa Cook will speak at 1:30 p.m., and Fed Governor Christopher Waller will speak at 6:30 p.m. ET.</li>
</ul>



Stocks In Focus:



<ul class="wp-block-list">
<li>Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) was up 0.36% in premarket on Thursday as analysts expect it to report earnings of $7.06 per share on revenue of $11.04 billion after the closing bell.</li>



<li>PepsiCo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) was 0.33% above the flatline as it is expected to report earnings before the opening bell. Analysts estimate earnings of $2.03 per share on revenue of $22.29 billion.</li>



<li>Kopin Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KOPN#NASDAQ">KOPN</a>) jumped 7.73% following the establishment of its comprehensive Environmental, Social, and Governance (ESG) framework.</li>



<li>Crown LNG Holdings Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGBS#NASDAQ">CGBS</a>) plummeted 55.26% after it received a letter from NASDAQ on Tuesday, notifying the company of its noncompliance with Nasdaq Listing Rules 5250(c)(1) and 5550(a)(2), according to a SEC Filing.</li>



<li>22nd Century Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XXII#NASDAQ">XXII</a>) surged 172.27% following the company's announcement of expanding partnerships for its VLN-based reduced nicotine content products, according to a company statement.</li>



<li>Taiwan Semiconductor Manufacturing Co. Ltd. (YSE: TSM) advanced 4.50% net revenue in the June quarter, rising 38.65% from a year ago to NT$933.80 billion or $31.7 billion, beating estimates.</li>



<li>AAR Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIR#NYSE">AIR</a>) gained 4.17% after reporting stronger-than-expected earnings for the fourth quarter. The quarterly earnings of $1.16 per share exceeded the analyst consensus estimate of $1.01 per share.</li>



<li>United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) declined 2.94% despite posting better-than-expected earnings for the second quarter, but it lowered its full-year 2025 earnings outlook. Also, the company&#8217;s sales missed market expectations.</li>



<li>General Electric Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>) was 1.06% higher as analysts expect it to report earnings of $1.41 per share on revenue of $9.52 billion before the opening bell.</li>
</ul>



Commodities, Gold, And Global Equity Markets:



Crude oil futures were trading higher in the early New York session by 0.41% to hover around $66.65 per barrel.



Gold Spot US Dollar fell 0.48% to hover around $3,331.59 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was higher by 0.24% at the 98.6320 level.



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



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/07/46435899/trumps-pharma-tariffs-can-hit-novo-nordisk-says-barclays-expert-but-its-difficult-to-predict-as-drugmakers-have-complex-supply-chains">Trump&#8217;s Pharma Tariffs Can Hit Novo Nordisk, Says Barclays Expert, But It&#8217;s &#8216;Difficult&#8217; To Predict As Drugmakers Have &#8216;Complex Supply Chains&#8217;</a></li>
</ul>



Photo courtesy: godongphoto / Shutterstock.com

CGBS

KOPN

XXII

US Stocks Likely To Open On A Mixed Note: Netflix, PepsiCo, TSM Earnings In Focus

Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Amazon Web Services are launching a $6 million initiative to attract 30 U.S. startups to build AI applications using Meta&#8217;s open-source Llama model, positioning the partnership as a strategic counter to OpenAI&#8216;s closed-source dominance.



What Happened: The program offers each selected startup $200,000 in AWS cloud computing credits and six months of technical support from both companies&#8217; engineers. AWS Vice President Jon Jones <a href="https://edition.cnn.com/2025/07/16/tech/meta-aws-llama-ai-startups-partnership">told</a> CNN the initiative aims to &#8220;empower founders to build transformative AI using Llama models,&#8221; with applications opening this summer.



For Meta, the collaboration comes as CEO Mark Zuckerberg pours billions into AI development, recently creating a superintelligence team and offering compensation packages up to $300 million <a href="https://www.benzinga.com/news/24/03/37926522/mark-zuckerbergs-shiny-new-300m-diesel-powered-mega-yacht-casts-a-big-question-mark-on-his-climate-h">over four years to poach top researchers</a> from competitors, including OpenAI. 



The company hired OpenAI researchers Jason Wei and Hyung Won Chung for its AI lab, following Zuckerberg&#8217;s strategy to make Llama the <a href="https://www.benzinga.com/markets/tech/25/07/46434602/mark-zuckerbergs-meta-poaches-top-openai-researchers-jason-wei-and-hyung-won-chung-for-its-superintelligence-lab-report">industry standard for AI development</a>.



See Also: <a href="https://www.benzinga.com/markets/tech/25/07/46460070/elon-musks-xai-faces-industry-backlash-over-reckless-ai-safety-practices-as-regulatory-scrutiny-intensifies">Elon Musk&#8217;s xAI Faces Industry Backlash Over &#8216;Reckless&#8217; AI Safety Practices As Regulatory Scrutiny Intensifies</a>



The partnership highlights the industry&#8217;s fundamental divide between open-source and closed-source AI models. While OpenAI&#8217;s ChatGPT and Anthropic&#8217;s Claude remain proprietary, Meta&#8217;s Llama provides free access to its underlying code. Zuckerberg argues open-source AI is &#8220;necessary for a positive AI future&#8221; and will democratize the technology&#8217;s benefits.



Why It Matters: AWS customers already use Llama for financial technology tools and customer relationship management systems for auto dealerships. The initiative could generate long-term revenue for Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) if startups continue using AWS services beyond the six-month program.



The timing coincides with Meta facing an $8 billion <a href="https://www.benzinga.com/news/legal/25/07/46458910/meta-shareholders-sue-mark-zuckerberg-peter-thiel-for-8-billion-over-privacy-violations-linked-to-cambridge-analytica-scandal">shareholder lawsuit over</a> Cambridge Analytica privacy violations and intense competition from ByteDance&#8217;s Swan mixed reality goggles. Meta has invested $16 billion in Reality Labs and plans additional data center <a href="https://www.benzinga.com/markets/tech/25/07/46425393/metas-metaverse-dreams-tested-by-new-bytedance-swan-goggles">investments to support its AI ambitions.</a>



&#8220;Startups are some of the most creative forces in tech,&#8221; said Ash Jhaveri, Meta&#8217;s vice president of AI partnerships. The program will select participants based on their technical capabilities and potential solution impact.



Read Next:



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



Photo Courtesy: Skorzewiak on Shutterstock.com

AMZN

Meta, AWS Roll Out $6 Million Startup Program To Counter OpenAI, Make Llama The Go-To AI Model For Builders

On Thursday, South Korea's Supreme Court cleared Samsung Electronics (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) chairman Jay Y. Lee of stock <a href="https://www.benzinga.com/news/management/25/02/43440540/samsungs-jay-y-lee-acquitted-shifting-focus-to-business-challenges">manipulation and accounting fraud charges</a> related to a 2015 merger, ending a nearly decade-long legal battle.



What Happened: The ruling upholds a lower court decision that dismissed all charges against Lee involving the $8 billion merger between Samsung C&amp;T and Cheil Industries, reported Reuters.



Prosecutors had alleged the deal was orchestrated to solidify Lee's control over Samsung Group following his father's incapacitation in 2014.



Lee's legal team welcomed the outcome, stating that the court confirmed the legality of the merger. The Korea Enterprises Federation also praised the verdict, calling it a stabilizing move for South Korea's economy, the report added.



See Also:&nbsp;<a href="https://www.benzinga.com/news/education/25/06/45983347/jensen-huang-gave-12-6-million-to-charity-then-nvidias-stock-made-it-billions" target="_blank" rel="noreferrer noopener">Jensen Huang Gave $12.6 Million To Charity, Then Nvidia&#8217;s Stock Made It Billions</a>



"The Supreme Court ruling clears a layer of legal uncertainty, which could be a long-term positive for Samsung," said Ryu Young-ho, senior analyst at NH Investment &amp; Securities. "It remains to be seen how directly and proactively he will engage going forward."



Samsung Electronics shares jumped 3.1% following the decision, outperforming the broader KOSPI index. Analysts also cited a downgrade of rival SK Hynix by Goldman Sachs as a factor in the stock movement, the report added.



Why It's Important: Samsung, which warned of a <a href="https://www.benzinga.com/markets/tech/25/07/46288786/us-export-bans-and-nvidia-supply-issues-crush-samsung-chip-profits-hopes-rest-on-ultra-thin-foldables-smartwatches-and-possible-xr-debut-at-galaxy-unpacked-event">56% drop in the second-quarter</a> operating profit, is under pressure to regain momentum in AI chip development and revive its struggling semiconductor division.



In 2024, during his two-week trip to the U.S., Lee held meetings with Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) CEO Mark Zuckerberg, Amazon.com Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) Andy Jassy and Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) CEO Cristiano Amon.



Their discussions focused on collaboration opportunities in artificial intelligence, cloud services, and semiconductors.



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</ul>



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



Photo courtesy: Sybillla / Shutterstock.com

QCOM

SSNLF

Samsung Chairman Jay Y. Lee Acquitted Of Stock Manipulation By South Korea's Supreme Court

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



U.S. stocks settled higher on Wednesday, with the Dow Jones index gaining more than 200 points during the session.



Reports circulated that President Donald Trump may be preparing to remove Federal Reserve Chair Jerome Powell from his post. The rumors sparked fears over the Fed&#8217;s independence, triggering a broad flight to gold and a sell-off in the U.S. dollar.



Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) reported second-quarter results that beat analyst expectations, boosted by robust gains in its global banking and trading divisions. Bank of America Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) posted better-than-expected second-quarter financial earnings.



On the economic data front, the Producer Price Index was flat in June, down from a 0.3% gain in May and below the 0.2% consensus forecast. On a year-over-year basis, producer prices rose 2.3%, the slowest pace since September 2024 and softer than the 2.5% economists had expected.



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



The Dow Jones closed higher by 231 points to 44,254.78 on Wednesday. The S&amp;P 500 rose 0.32% to 6,263.70, while the Nasdaq Composite gained 0.25% to 20,730.49 during Wednesday's session.



Investors are awaiting earnings results from PepsiCo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>), GE Aerospace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>) and Netflix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) today.



What is CNN Business Fear &amp; Greed Index?



At a current reading of 73.9, the index remained in the &#8220;Greed&#8221; zone on Wednesday, versus a prior reading of 73.7.



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



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Photo via Shutterstock

Dow Gains Over 200 Points Amid Upbeat Earnings: Investor Sentiment Improves, Fear Index Remains In 'Greed' Zone

Leading cryptocurrencies rose alongside stocks on Wednesday as President Donald Trump denied that he plans to remove Federal Reserve Chair Jerome Powell.



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 10:50 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>+0.85%</td><td>$118,233.42</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>+7.29%</td><td>$3,346.01</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>+8.82%</td><td>$0.2139</td></tr></tbody></table></figure>



What Happened: Bitcoin topped $120,000 in the evening before plummeting to a low of $117,255.02 overnight, even as trading volume dipped 21% in the last 24 hours.



The so-called ‘Crypto Week' continued to hit roadblocks due to disagreements among GOP lawmakers<a href="https://www.benzinga.com/news/politics/25/07/46458679/trump-backed-crypto-bills-stalled-again-in-house-of-representatives-marjorie-taylor-greene-holds-out-on-cbdc-ban-will-not-vote-for-this"> regarding key cryptocurrency bills</a>.



Ethereum recorded a steeper spike, surging past the $3,000–$3,400 resistance zone. Institutional flows supported the rally, with Cathie Wood's Ark Invest <a href="https://www.benzinga.com/news/25/07/46458290/cathie-woods-ethereum-double-down-ark-bets-7-9-million-on-eth-staking-etf-buy-while-selling-coinbase-at-highs">scooping a significant number of shares</a> of 3iQ Ether Staking ETF (ETHQ.U).&nbsp;



The rally hit bearish traders, with nearly $300 million in short positions getting erased in the last 24 hours.



Bitcoin's open interest rose marginally by 0.58% in the last 24 hours, while funds locked in Ethereum's derivatives jumped 4%. Meanwhile, the majority of Binance traders with open BTC positions were short as of this writing.



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 10:50 p.m. ET)</th></tr></thead><tbody><tr><td>Floki (FLOKI)</td><td>+32.40%</td><td>$0.0001301</td></tr><tr><td>Bonk (BONK)&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+21.24%</td><td>$0.00003755</td></tr><tr><td>Curve DAO Token (CRV)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+20.24%</td><td>$0.9476 </td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.79 trillion, following a jump of 2.24% in the last 24 hours.



Stocks bounced back sharply on Wednesday. The Dow Jones Industrial Average lifted 231.49 points, or 0.53%, to end at 44,254.78. The S&amp;P 500 rose 0.32% to end at 6,263.70. The tech-focused Nasdaq Composite added 0.18% to clock yet another record close of 20,640.33.



Drama unfolded after a senior White House official hinted that Trump is planning to remove Fed Chair Powell. However, Trump <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46449521/donald-trump-to-fire-jerome-powell-polymarket-traders-say-no-but">quickly downplayed the reports</a>, saying it is "highly unlikely" he will do so in the near future.



Interestingly, the odds of a 25 basis point rate cut at the Federal Reserve&#8217;s September meeting increased from 54.5% to 56.3%, <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">according </a>to the CME FedWatch tool.&nbsp;



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



Analyst Notes: In a note to Benzinga, the analytics team at Bitcoin yield protocol TeraHash said that if <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46441190/600m-in-1-day-why-are-bitcoin-ethereum-etf-suddenly-so-bullish">exchange-traded flows</a> persist and cryptocurrency bills pass through, Bitcoin could see a $3 trillion valuation by year-end.



"We see this as Bitcoin's transition from ‘digital gold' to monetary infrastructure," the analysts said.



Widely followed cryptocurrency analyst Ali Martinez flagged $3,980 as a key resistance for Ethereum, breaking which could "ignite a major bull 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">A key resistance level ahead for Ethereum <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> is $3,980. Breaking above it could ignite a major bull rally! <a href="https://t.co/11v2ytwIIs">pic.twitter.com/11v2ytwIIs</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1945543454295011714?ref_src=twsrc%5Etfw">July 16, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo Courtesy: oekka.k on Shutterstock.com



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$DOGE

Bitcoin, Ethereum, Dogecoin Climb Amid Trump-Powell Turbulence: Analyst Says BTC Could Reach $3 Trillion Market Cap By Year-End If This Happens

Seven &amp; i Holdings (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SVNDY#OTC">SVNDY</a>) shares tumbled 9% on Thursday on the Tokyo exchange to a low of 2,000 Japanese Yen ($13.50) after Canada&#8217;s Alimentation Couche-Tard (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ANCTF#OTC">ANCTF</a>) withdrew its $47 billion takeover bid, citing &#8220;persistent lack of good faith engagement.&#8221; Trading resumed at 10:16 a.m. local time following a halt.



Couche-Tard pulled its enhanced $18.19 per share offer, valuing the 7-Eleven operator at 7 trillion yen. The Canadian retailer had raised its bid 22% from August&#8217;s initial $14.86 proposal, which Seven &amp; i rejected as undervalued.



Seven &amp; i disputed Couche-Tard&#8217;s withdrawal rationale, calling the termination &#8220;unilateral.&#8221; The Japanese convenience store giant replaced CEO Ryuichi Isaka with Stephen Dacus in May.



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



Image Via Shutterstock

ANCTF

SVNDY

Seven & i Crashes 9% After Couche-Tard Yanks $47 Billion Takeover Bid, Slams 'Lack of Good Faith' Talks — Tokyo Retail Giant Calls Move 'Unilateral'

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