Fears of a major oil supply shock are mounting as tensions escalate in the Strait of Hormuz, a vital artery for nearly 20% of global crude shipments, with Wall Street racing to assess the potential price impact after the U.S. struck <a href="https://www.benzinga.com/news/politics/25/06/46047021/iran-threatens-strait-of-hormuz-after-us-bombs-its-nuclear-sites-shipping-traffic-plunges">Iran over the weekend.</a>



What Happened: Goldman Sachs on Monday flagged a scenario where Brent oil could soar to $110 per barrel if Iran shuts down the Strait of Hormuz in retaliation for the American strikes on <a href="https://www.benzinga.com/news/travel/25/06/46045416/us-issues-worldwide-caution-after-strikes-on-irans-nuclear-sites-state-department-warns-of-airspace-closures-travel-chaos-and-rising-threats-to-americans-abroad">three of its nuclear sites</a>. 



Commodity analyst Daan Struyven said in a note that the geopolitical risk premium in oil prices — as broadly tracked by the United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>) — could "jump to record levels" if the strait is blocked.



The mere risk of a closure has already added an estimated $12 geopolitical premium to oil crude pricing, with Brent rising to just under $80 per barrel.



Goldman Sachs modeled two key disruption scenarios going forward:



<ul class="wp-block-list">
<li>If Iranian oil supply drops by 1.75 million barrels per day, that alone could push Brent prices to around $90 per barrel.</li>



<li>In a more severe case, oil flows through the Strait of Hormuz are cut by 50% for one month and stay down 10% for another 11 months. That scenario could cause Brent crude to spike briefly to $110 per barrel before moderating.</li>
</ul>



Goldman estimates that the risk premium embedded in oil's price structure would peak at just over $25 per barrel in this scenario. 



Some mitigation measures are assumed, including the release of U.S. strategic reserves—2 million barrels per day in the first month and 1 million barrels per day in the second—as well as 2.6 million barrels per day of bypass capacity from Saudi and UAE pipelines.



<h3 class="wp-block-heading">How Likely Is A Disruption In The Strait of Hormuz? And Why It Matters?</h3>



Currently, oil tankers are still passing through the strait, according to vessel tracking data. Yet, the market is pricing a notable chance that Iran may order the closure of Hormuz. 



Prediction platform Polymarket assigns a 31% chance that Iran will close the Strait of Hormuz before July. 



The Strait of Hormuz is crucial to global oil markets. In 2024, Saudi Arabia, Iraq and the UAE exported 13.2 million barrels per day of oil through the strait. China was the largest buyer, importing 5 million barrels daily via the route.



&#8220;While the events in the Middle East remain fluid, we think that the economic incentives, including for the US and China, to try to prevent a sustained and very large disruption of the Strait of Hormuz would be strong,&#8221; Struyven said. 



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Oil At $110? Goldman Flags Major Risk If Iran Disrupts Strait Of Hormuz Shipping

U.S. stock futures dipped into the red after a brief rise Monday morning, as tensions continue to flare in the Middle East, following <a href="https://www.benzinga.com/news/politics/25/06/46042703/iran-calls-us-bombing-of-nuclear-sites-very-very-dangerous-for-everybody">American airstrikes</a> on Iranian nuclear facilities over the weekend.



Investors are on the edge, with potential for further escalation in the crisis, following Iran&#8217;s parliament voting on Sunday to <a href="https://www.benzinga.com/news/politics/25/06/46044009/us-iran-tensions-escalate-as-iran-threatens-hormuz-closure-potentially-rattling-global-oil-markets">authorize the closure</a> of the Strait of Hormuz. 



The 10-year Treasury bond yielded 4.397%, and the two-year bond was at 3.927%. The CME Group&#8217;s FedWatch&nbsp;<a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html" target="_blank" rel="noreferrer noopener">tool</a>‘s projections show markets pricing an 85.5% likelihood of the Federal Reserve keeping the current interest rates unchanged in its next FOMC meeting in late July.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Dow Jones</td><td>-0.24%</td></tr><tr><td>S&amp;P 500</td><td>-0.19%</td></tr><tr><td>Nasdaq 100</td><td>-0.22%</td></tr><tr><td>Russell 2000</td><td>-0.55%</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>), which tracks the S&amp;P 500, and the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which tracks the Nasdaq 100 index, were both trading lower in pre-market by 0.13% and 0.23%, respectively, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;idm7up&#x2A;_gcl_au&#x2A;OTU0MzA1MzE4LjE3NDcwMTIxNDM.&#x2A;_ga&#x2A;ZGVsZXRlZA..&#x2A;_ga_V7ZK73W7N0&#x2A;czE3NTA2NjM1NzckbzIzNCRnMSR0MTc1MDY2NzQzNCRqNjAkbDAkaDA.">Benzinga Pro</a> data.



Cues From Last Session:



The S&amp;P 500 ended down 0.22% on Friday, with a mixed sector-wise performance. Tech, healthcare, materials, and communications led the decline, while energy, consumer staples, and utilities rose higher, with energy leading the way, up 1.02% during the day.



The Dow Jones Industrial Average was flat during the day, up just 0.08% or 35 points, ending the week at 42,206.82 points, following a volatile session.



Drywall and insulation contractor, GMS Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GMS#NYSE">GMS</a>), rallied 23.77% during the day, after becoming an acquisition target of building products company, QXO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QXO#NYSE">QXO</a>), which was followed by a string of hikes in the stock&#8217;s price targets, with the high end now at $105, representing a 5% upside from current levels.



The Philadelphia Fed manufacturing survey posted a 4% decline, compared to an analyst consensus of a 2% decline, while the U.S. Leading Economic Indicators release reported a 0.1% decline, in line with forecasts.



The Dow Jones index ended 35.16 points or 0.083% up at 42,206.82, whereas the S&amp;P 500 index fell 0.22% to 5,967.84. Nasdaq Composite declined 0.51% to 19,447.41, and the small-cap gauge, Russell 2000, tumbled 0.17% to end the week at 2,109.27.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>-0.51%</td><td>19,447.41</td></tr><tr><td>S&amp;P 500</td><td>-0.22%</td><td>5,967.84</td></tr><tr><td>Dow Jones</td><td>-0.08%</td><td>42,206.82</td></tr><tr><td>Russell 2000</td><td>-0.51%</td><td>19,447.41</td></tr></tbody></table></figure>



Insights From Analysts:



As tensions continued to flare between Israel, the U.S., and Iran, leading analysts remain optimistic regarding the market at the start of the new week.



Leading tech analyst, Dan Ives, shared on Sunday, in a post on X, that <a href="https://www.benzinga.com/news/politics/25/06/46045276/dan-ives-says-iran-threat-is-in-rear-view-mirror-calls-it-positive-for-the-middle-east-and-the-tech-sector">the Iran threat</a> was now in the &#8220;rear-view&#8221; for the markets. He added that the events that took place over the weekend will be seen as &#8220;a positive&#8221; for growth and stability in the Middle East. 



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The market will view this Iran threat as now gone and that is a positive for growth in the broader Middle East and ultimately the tech sector. It will take some time for this conflict to settle, but the market will view the worst is now in the rear-view mirror. Expect stocks up&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1936772081804292391?ref_src=twsrc%5Etfw">June 22, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Meanwhile, Iran has vowed to respond to the strikes, declaring it "reserves all options" in the face of U.S. aggression.



Chartered Market Technician, Ryan Detrick, however, cautioned of a pullback in the markets, often seen in late-June or early-July in a post-election year.



&#8220;The headlines are the headlines, but don&#8217;t forget that late June/early July tends to be weak in a post-election year,&#8221; he said on X.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The headlines are the headlines, but don&#39;t forget that late June/early July tends to be weak in a post-election year. <a href="https://t.co/pnRULgmhRY">pic.twitter.com/pnRULgmhRY</a>&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1936932156653056070?ref_src=twsrc%5Etfw">June 22, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Upcoming Economic Data:



Here&#8217;s what investors will be focused on, when markets open on Monday,



<ul class="wp-block-list">
<li>S&amp;P Flash U.S. Services PMI, along with the S&amp;P Flash U.S. Manufacturing PMI, is set to be released at 9:45 AM ET on Monday. </li>



<li>The Existing Home Sales data is set to be unveiled by 10:00 AM.</li>
</ul>



Stocks In Focus:



<ul class="wp-block-list">
<li>FactSet Research Systems Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDS#NYSE">FDS</a>), a financial data provider, is set to release its third quarter results by 9 AM on Monday morning, before markets open. The stock is up 0.04% pre-market. </li>



<li>Commercial Metas Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) will be announcing its third quarter results by 11:00 AM, and the stock is up 6.20% pre-market. </li>



<li>KB Home (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBH#NYSE">KBH</a>), a homebuilding company, is scheduled to announce its second quarter figures after markets close on Monday. The stock is down 0.44% pre-market. </li>



<li>PACS Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PACS#NYSE">PACS</a>), an operator of skilled-nursing care facilities, is expected to announce its quarterly results after markets close.</li>
</ul>



Commodities, Gold, And Global Equity Markets:



Crude oil futures are up 0.49% in the early New York session, with prices hovering around $74.19 per barrel, well below the day&#8217;s high of $77.13.



Gold Spot US Dollar was down 0.06%, trading at $3,366.61 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index (DXY) spot was up 0.35% at the 99.268 level.



Asian markets were mixed on Monday, with China&#8217;s Shanghai and Shenzhen indices up, while Japan&#8217;s Nikkei 225, the KOSPI, and India&#8217;s Nifty 50 ended the day lower.



Photo: Shutterstock

News

Pre-Market Outlook

PACS

US Stocks Likely To Open Lower As Iran Vows Retaliation After US Strike: 'Worst Is Now In The Rear-View Mirror,' Says Top Analyst (UPDATED)

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has officially launched the Robotaxi in Austin as the self-driving taxi race in the U.S. shifts into gear.



What Happened: The rollout, which was a small-scale event with over 10 Tesla Model Y Robotaxis, took place in Austin's South Congress neighborhood on Sunday.



The event was invite-only and Tesla created a dedicated app for the riders, who were mostly social media influencers, to book rides similar to other ride-hailing apps like Uber Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>).



<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 href="https://t.co/tRCmk3p8CR">pic.twitter.com/tRCmk3p8CR</a>&mdash; Sawyer Merritt (@SawyerMerritt) <a href="https://twitter.com/SawyerMerritt/status/1936928673711436104?ref_src=twsrc%5Etfw">June 22, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Tesla also had safety monitors seated in the front seat during the rides. The safety monitors were Tesla employees overseeing the operations, though there were no confirmations about how much control they had, given that the Robotaxi was operating on Unsupervised FSD.



The EV giant&#8217;s CEO, Elon Musk, took to social media to hail the launch on the social media platform X on Sunday. Musk called the launch a "culmination of a decade of hard work" in his post and shared that both the AI Chip, as well as the software team responsible for the Robotaxi, "were built from scratch within Tesla."



<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">Super congratulations to the <a href="https://twitter.com/Tesla_AI?ref_src=twsrc%5Etfw">@Tesla_AI</a> software &amp; chip design teams on a successful <a href="https://twitter.com/robotaxi?ref_src=twsrc%5Etfw">@Robotaxi</a> launch!! Culmination of a decade of hard work. Both the AI chip and software teams were built from scratch within Tesla.&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1936876178356490546?ref_src=twsrc%5Etfw">June 22, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Why It Matters: The launch comes in as Tesla has been teasing the company's arrival in the self-driving taxis sector to take on players like Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Waymo as well as Amazon.com Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) Zoox.



While Waymo had announced its expansion <a href="https://www.benzinga.com/markets/tech/25/06/45988738/tesla-robotaxi-rival-waymo-expands-services-in-california-amid-us-autonomous-vehicle-push">into more parts</a> of California and the company is also conducting trials in other parts of the U.S., Zoox <a href="https://www.benzinga.com/markets/tech/25/06/46011055/amazon-backed-zoox-launches-california-robotaxi-plant-tesla-rival-targets-10000-vehicles-a-year">set up a second production facility</a> in California, which could help the company scale its Robotaxi operations.



Tesla, meanwhile, has been under the <a href="https://www.benzinga.com/markets/tech/25/06/46041090/tesla-faces-safety-questions-from-regulators-ahead-of-robotaxi-launch-in-austin">scrutiny of safety regulators</a> in the U.S. as the NHTSA has been reviewing the company's responses to the questions posed by the agency over FSD's performance in poor weather conditions.



Musk had previously also stated that Tesla <a href="https://www.benzinga.com/markets/tech/25/06/46019450/elon-musk-says-tesla-works-closely-with-xai-you-can-either-be-a-spectator">is working closely </a>with the billionaire's AI venture, xAI, to collaborate and develop robotics as well as autonomous driving.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="195" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/22235721/TSLA-JUN-23-2025-1024x195.jpg" alt="" class="wp-image-957409" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/22235721/TSLA-JUN-23-2025-1024x195.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/22235721/TSLA-JUN-23-2025-300x57.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/22235721/TSLA-JUN-23-2025-768x147.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/22235721/TSLA-JUN-23-2025-1536x293.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/22235721/TSLA-JUN-23-2025.jpg 1546w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



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



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



Read Next:



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<li><a href="https://www.benzinga.com/markets/tech/25/06/46020870/elon-musks-tesla-to-expand-model-y-lineup-with-new-6-seater-version-report">Elon Musk&#8217;s Tesla To Expand Model Y Lineup With New 6-Seater Version: Report</a></li>
</ul>



Photo courtesy: Ken Wolter / Shutterstock.com

Tech

AMZN

GOOG

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UBER

Tesla Launches Robotaxi In Austin: Elon Musk Calls It A 'Culmination Of A Decade Of Hard Work'

The State Department issued a Worldwide Caution Security alert on Sunday, advising U.S. citizens overseas to exercise increased caution as the Israel-Iran conflict disrupts regional travel and threatens American interests globally.



What Happened: The escalation follows Saturday&#8217;s U.S. airstrikes on Iranian nuclear facilities, which President Donald Trump described as having &#8220;totally obliterated&#8221; key sites. 



Ben Gurion Airport remains closed with no scheduled commercial flights operating. The State Department has initiated assisted departure flights for U.S. citizens and permanent residents from Israel, directing travelers to complete crisis intake forms at mytravel.state.gov. 



Land crossings to Jordan operate with extended delays, while Egypt&#8217;s Taba crossing remains open 24 hours daily.



Iranian airspace closure forces departures through Azerbaijan, Armenia, or Turkey. U.S.-Iranian dual nationals must exit on Iranian passports and face potential questioning at checkpoints, as Iran doesn&#8217;t recognize dual citizenship.



See Also: <a href="https://www.benzinga.com/news/politics/25/06/46043789/marjorie-taylor-greenes-response-to-trump-bombing-iran-let-us-pray-that-we-are-not-attacked-by-terrorists-on-our-homeland">Marjorie Taylor Greene&#8217;s Response To Trump Bombing Iran: &#8216;Let Us Pray That We Are Not Attacked By Terrorists On Our Homeland&#8217;</a>



Why It Matters: Iran&#8217;s parliament voted Sunday to authorize the potential closure of the Strait of Hormuz, the world&#8217;s most critical oil shipping chokepoint, handling <a href="https://www.benzinga.com/news/politics/25/06/46044009/us-iran-tensions-escalate-as-iran-threatens-hormuz-closure-potentially-rattling-global-oil-markets">roughly 20% of global petroleum liquids</a> transit. While largely symbolic, the vote grants Iran&#8217;s Supreme National Security Council authority to proceed with the measure.



Iranian Foreign Minister Abbas Araghchi <a href="https://www.benzinga.com/news/politics/25/06/46043406/us-vs-iran-irans-foreign-minister-heads-to-moscow-accuses-us-of-derailing-nuclear-talks">traveled to Moscow for a meeting</a> with Russian President Vladimir Putin, accusing Washington of derailing nuclear negotiations. Tehran condemned U.S. actions as crossing &#8220;a very big red line&#8221; while asserting its right to defend &#8220;by all means necessary.&#8221;



The Swiss Protecting Power office in Tehran remains closed, leaving Americans in Iran without consular assistance during the crisis.



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<li><a href="https://www.benzinga.com/crypto/25/06/46045060/bitcoin-ethereum-dogecoin-fall-as-us-involvement-in-iran-israel-war-threatens-oil-prices-spike-arthur-hayes-says-weakness-shall-pass-and-btc-will-show-its-safe-haven-status">Bitcoin, Ethereum, Dogecoin Fall As US Involvement In Iran-Israel War Threatens Oil Prices Spike: Arthur Hayes Says &#8216;Weakness Shall Pass&#8217; And BTC Will Show Its Safe Haven Status</a></li>
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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: danielo on Shutterstock.com

US Issues Worldwide Caution After Strikes On Iran's Nuclear Sites: State Department Warns Of Airspace Closures, Travel Chaos And Rising Threats To Americans Abroad

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



U.S. stocks settled mixed on Friday, with the S&amp;P 500 falling for the third straight session amid escalating Iran-Israel conflict. For the week, the S&amp;P 500 fell around 0.2%, while the 30-stock Dow gained 0.02%.



Darden Restaurants Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>) reported better-than-expected fourth-quarter financial results. Accenture plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>) shares fell around 7% on Friday following the release of its third-quarter results.



On the economic front, the Philadelphia Fed Manufacturing Index came in unchanged at -4.0 in June, versus market estimates of -1.



Most sectors on the S&amp;P 500 closed on a negative note, with health care, materials and communication services stocks recording the biggest losses on Friday. However, energy and consumer staples stocks bucked the overall market trend, closing the session higher.



The Dow Jones closed higher by over 35 points to 42,206.82 on Friday. The S&amp;P 500 fell 0.22% to 5,967.84, while the Nasdaq Composite dipped 0.51% at 19,447.41 during Friday's session.



Investors are awaiting earnings results from FactSet Research Systems Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDS#NYSE">FDS</a>), Commercial Metals Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) and KB Home (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBH#NYSE">KBH</a>) today.



What is CNN Business Fear &amp; Greed Index?



At a current reading of 55.4, the index remained in the &#8220;Neutral&#8221; zone on Friday, versus a prior reading of 55.1.



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



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/short-ideas/25/06/46023851/top-2-tech-stocks-that-could-sink-your-portfolio-in-june">Top 2 Tech Stocks That Could Sink Your Portfolio In June</a> </li>
</ul>



Photo courtesy: Shutterstock

S&P 500 Falls For Third Day Amid Iran-Israel Conflict: Investor Sentiment Improves Slightly, But Fear & Greed Index Remains In 'Neutral' Zone

Leading cryptocurrencies slid on Sunday as investors feared a larger conflict following the U.S.'s involvement in the Iran-Israel war.



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 8:35 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>-1.95%</td><td>$100,965.74</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>-2.33%</td><td>$2,244.24</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>-3.23%</td><td>$0.1520</td></tr></tbody></table></figure>



What Happened: Bitcoin plunged below $99,000 late in the afternoon, but an overnight spike helped pare some of the losses.



Ethereum tumbled to an intraday low of $2,116.68, a level not seen since early May.



The two blue-chip coins recorded a sharp jump in trading volumes, indicating strong selling pressure.



Nearly $657 million was liquidated from the cryptocurrency market in the last 24 hours, with $524 million in longs wiped out.



Bitcoin&#8217;s Open Interest fell 1.44% in the last 24 hours, broadly matching the decline in the spot price.



The market sentiment improved from "Fear" to "Neutral" in the last 24 hours, according to the Crypto Fear &amp; Greed Index.



Top Gainers (24 Hours)



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 8:35 p.m. ET)</th></tr></thead><tbody><tr><td>Hyperliquid (HYPE)</td><td>+4.57%</td><td>$35.43</td></tr><tr><td>Kaia (KAIA) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+3.72%</td><td>$0.1884</td></tr><tr><td>Fartcoin (FARTCOIN)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+3.33%</td><td>$0.9338 </td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.09 trillion, following a decline of 2.19% in the last 24 hours.



Stock market futures edged lower overnight Sunday. The Dow Jones Industrial Average Futures fell 179 points, or 0.42%, as of 8:38 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 slid 0.42%, while Nasdaq 100 Futures lost 0.55%.



The market felt jittery as the <a href="https://www.benzinga.com/news/politics/25/06/46043305/donald-trump-announces-spectacular-military-success-as-us-strikes-key-iranian-nuclear-sites">U.S. joined the war against Iran</a>, executing precision strikes on the nuclear facilities in the Middle Eastern country.&nbsp;



In response, Iran&#8217;s parliament<a href="https://www.benzinga.com/news/politics/25/06/46044009/us-iran-tensions-escalate-as-iran-threatens-hormuz-closure-potentially-rattling-global-oil-markets"> voted to authorize</a> the potential closure of the Strait of Hormuz, the world's most sensitive oil shipping chokepoint, sending oil prices spiking. The U.S. West Texas Intermediate rose 0.92% to $75.86 a barrel, marking a five-month high.



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



Analyst Notes: In a note to Benzinga, the co-founder and COO of Bitcoin IRA said, "The biggest fear for the U.S. economy remains the geopolitical choke point of the Strait of Hormuz, where retaliation could skyrocket oil prices and cause significant economic uncertainty.



He said that this could boost Bitcoin's appeal, as the coin represents a "freedom from fiat currency and the economic constraints" that come with traditional monetary systems



Arthur Hayes, co-founder of cryptocurrency exchange BitMEX and Chief Investment Officer at Maelstrom Fund, noted Bitcoin's dip below $100,000 and anticipated more central bank money printing and government spending in the future.



"This weakness shall pass and BTC will leave no doubt as to its safe haven status," 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">Do you hear that? … it's the sound of the money printers revving up to do their patriotic duty. This weakness shall pass and <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> will leave no doubt as to its safe haven status. <a href="https://t.co/PTfZaAXFp7">pic.twitter.com/PTfZaAXFp7</a>&mdash; Arthur Hayes (@CryptoHayes) <a href="https://twitter.com/CryptoHayes/status/1936854369980346588?ref_src=twsrc%5Etfw">June 22, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



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



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/25/06/46025230/why-a-public-healthcare-firm-wants-to-hold-more-bitcoin-than-most-countries">Why A Public Healthcare Firm Wants To Hold More Bitcoin Than Most Countries</a></li>
</ul>



Photo courtesy: Shutterstock

Cryptocurrency

$BTC

$DOGE

$ETH

Bitcoin, Ethereum, Dogecoin Fall As US Involvement In Iran-Israel War Threatens Oil Prices Spike: Arthur Hayes Says 'Weakness Shall Pass' And BTC Will Show Its Safe Haven Status

Over the weekend, ChatGPT-parent OpenAI pulled all public materials related to its <a href="https://www.benzinga.com/tech/25/05/45602719/openais-acquisition-of-jony-ives-startup-poses-threat-to-apples-dominance">$6.5 billion acquisition</a> of Jony Ive's AI hardware startup, IO Products.



What Happened: The takedown followed a trademark lawsuit filed by IYO Inc., a separate AI device company, which claims the &#8220;IO&#8221; branding infringes on its intellectual property, <a href="https://www.bloomberg.com/news/articles/2025-06-22/jony-ive-deal-removed-from-openai-site-over-trademark-suit">reported</a> Bloomberg.



A spokesperson for OpenAI confirmed the removal to the publication and said it was due to the ongoing legal matter. Ive's representative called the suit "an utterly baseless complaint," adding, "We'll fight it vigorously."



Earlier, the publication reported that a judge was weighing a preliminary injunction that could bar OpenAI from using the IO name during the legal proceedings.



See Also:&nbsp;<a href="https://benzinga.com/analyst-stock-ratings/analyst-color/25/06/45888833/mcdonalds-just-got-hammered-by-weight-loss-drugs-twice" target="_blank" rel="noreferrer noopener">McDonald's Just Got Hammered By Weight-Loss Drugs — Twice</a>



Why It's Important: The $6.5 billion acquisition marked OpenAI's most <a href="https://www.benzinga.com/trading-ideas/movers/25/05/45550033/openai-teams-up-with-iphone-designer-jony-ive-as-chatgpt-maker-makes-push-into-hardware-apple-shares-slide">ambitious push into AI hardware</a>. Ive, the former chief design officer at Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), is renowned for designing iconic products like the iPhone and MacBook.



Following the acquisition announcement in May, Gene Munster, managing partner at Deepwater Asset Management, said that OpenAI poses the first major competitive <a href="https://www.benzinga.com/news/25/05/45599511/apple-faces-first-serious-threat-in-20-years-as-openai-acquires-iphone-makers-former-design-chief-jo">threat to Apple in 20 years</a>.



According to Benzinga Edge Stock Rankings, Apple's stock shows a negative price trend across short, medium and long-term periods. While the company scores well on quality metrics, its growth and momentum are weak and its valuation appears significantly low. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">For more information, click here</a>.



<figure class="wp-block-image aligncenter size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/22215933/Screenshot-2025-06-23-at-7.25.41%E2%80%AFAM.png" alt="" class="wp-image-957340"/></a></figure>



Read More:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45988475/us-military-action-on-iran-odds-rise-on-crypto-betting-site-polymarket-as-trump-demands-unconditional-surrender" target="_blank" rel="noreferrer noopener">US Military Action On Iran? Odds Rise On Crypto Betting Site Polymarket As Trump Demands ‘Unconditional Surrender&#8217;</a></li>
</ul>



Photo courtesy: Svet foto / Shutterstock.com

AAPL

OpenAI Scrubs Jony Ive Deal From Website After Trademark Lawsuit Threatens $6.5 Billion IO Products Acquisition

Tech bull Dan Ives believes that the markets, particularly the tech sector, will interpret the recent events in Iran as a turning point.



What Happened: On Sunday, in a post on X, Ives framed the events that took place over the weekend as &#8220;a positive&#8221; for stability and growth in the Middle East, along with that of the tech sector.



&#8220;The market will view this Iran threat as now gone, and that is a positive for growth in the broader Middle East and ultimately the tech sector,&#8221; Ives said, referring to the events that took place over the weekend, with the <a href="https://www.benzinga.com/news/politics/25/06/46042703/iran-calls-us-bombing-of-nuclear-sites-very-very-dangerous-for-everybody">U.S. launching airstrikes</a> on Iranian nuclear facilities at Fordow, Natanz, and Isfahan.



See Also: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46044123/global-tensions-trigger-cryptocurrency-crash-bitcoin-xrp-and-dogecoin-at-2-month-lows">Global Tensions Trigger Cryptocurrency Crash: Bitcoin, XRP, And Dogecoin At 2-Month Lows</a>



He, however, acknowledges that it would take some time for the conflict to settle, while adding that when it comes to the markets, the &#8220;worst is now in the rear-view mirror,&#8221; he says, &#8220;expect stocks up.&#8221;



With this, Ives gives a clear signal that the markets that have been jittery over flaring tensions in the region could witness a turnaround this week.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The market will view this Iran threat as now gone and that is a positive for growth in the broader Middle East and ultimately the tech sector. It will take some time for this conflict to settle, but the market will view the worst is now in the rear-view mirror. Expect stocks up&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1936772081804292391?ref_src=twsrc%5Etfw">June 22, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Why It Matters: Ives&#8217; sentiments echo those of veteran investor Steve Eisman, who <a href="https://www.benzinga.com/markets/equities/25/06/46014941/the-big-short-investor-steve-eisman-says-iran-crisis-could-be-extremely-positive-for-markets-calls-regime-a-death-cult-close-to-nuclear-weapons">stated last week</a> that the crisis in Iran may ultimately prove &#8220;extremely positive&#8221; for global markets and geopolitical stability. 



Eisman refers to the Middle-Eastern state as a &#8220;death cult,&#8221; while adding that getting rid of such a death cult anywhere in the world &#8220;is a very positive thing.&#8221;



Billionaire hedge fund manager Bill Ackman similarly commended the strikes, <a href="https://www.benzinga.com/news/politics/25/06/46043708/us-airstrike-on-iran-draws-varied-reactions-from-business-leaders-bill-ackman-says-thank-you-to-our-great-military">thanking the U.S. military</a> for its &#8220;superb execution on ridding Iran&nbsp;of its nuclear threat.&#8221;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The most escalatory thing that Iran can do is not to bomb U.S. military bases in the Middle East. It's to close the Strait of Hormuz. And if that happens, Oil goes above $100 in the blink of an eye. Iran is no military match for the United States. But they can wreak havoc…&mdash; Spencer Hakimian (@SpencerHakimian) <a href="https://twitter.com/SpencerHakimian/status/1936575501747007866?ref_src=twsrc%5Etfw">June 22, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



However, there are others, such as the founder of Tolou Capital Management, Spencer Hakimian, who warns of potential escalations by Iran, such as closing the Strait of Hormuz, a key global energy vein, which could disrupt the global economy by sending energy prices higher.



Read More: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/06/46044108/outrage-mounts-over-trumps-appointment-of-22-year-old-to-terrorism-unit-amid-iran-crisis">Outrage Mounts Over Trump&#8217;s Appointment of 22-Year-Old to Terrorism Unit Amid Iran Crisis</a></li>
</ul>



Photo courtesy: rarrarorro on Shutterstock.com

Dan Ives Says Iran Threat Is 'In Rear-View Mirror' — Calls It 'Positive' For The Middle East And The Tech Sector

In the wake of President Donald Trump&#8216;s disclosure of U.S. airstrikes on three Iranian nuclear facilities, Rep. Marjorie Taylor Greene (R-Ga.) has called on Americans to pray for protection from potential terrorist attacks.



What Happened: In a post on X, she urged Americans to &#8220;unite&nbsp;and pray for the safety&nbsp;of our U.S. troops and&nbsp;Americans in the Middle East.&#8221; Greene also called for prayers for the U.S. to avoid terrorist attacks, citing the open border over the past four years and the entry of over 2 million &#8220;gotaways.&#8221;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Let us join together and pray for the safety of our U.S. troops and Americans in the Middle East. &#x1f64f; Let us pray that we are not attacked by terrorists on our homeland after our border was open for the past 4 years and over 2 Million gotaways came in.&#x1f64f; Let us pray for peace.…&mdash; Rep. Marjorie Taylor Greene&#x1f1fa;&#x1f1f8; (@RepMTG) <a href="https://twitter.com/RepMTG/status/1936595045215527336?ref_src=twsrc%5Etfw">June 22, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The President&#8217;s announcement, made&nbsp;at 7:50 pm on Saturday, detailed the successful strikes on three Iranian nuclear sites, namely Fordow, Natanz, and Esfahan. He applauded &#8220;our great American Warriors&#8221; and expressed hopes for peace.



Greene, a staunch Trump ally, has been an outspoken critic of U.S. involvement in the Israel-Iran conflict. She has consistently voted against pro-Israel bills in the House and has publicly voiced her dissatisfaction with the hawkish faction of the GOP.



Als<a href="https://www.benzinga.com/news/politics/25/06/46043305/donald-trump-announces-spectacular-military-success-as-us-strikes-key-iranian-nuclear-sites">o Read: Donald Trump Announces &#8216;Spectacular Military Success&#8217; As US Strikes Key Iranian Nuclear Sites</a>



Greene had earlier campaigned against foreign wars and expressed her disapproval of bombing foreign nations on behalf of others, particularly those possessing&nbsp;their own nuclear weapons and&nbsp;significant military power.



Why It Matters: Greene&#8217;s response to Trump&#8217;s announcement underscores her long-standing stance against U.S. intervention in foreign conflicts. Her call for prayers highlights the potential risks associated with such military actions, including the threat of retaliatory terrorist attacks. 



Her reference to the open border and the entry of &#8220;gotaways&#8221; suggests a link between immigration policy and national security, a contentious issue that continues to divide lawmakers. 



The response also reflects the ongoing debate within the GOP about the U.S.&#8217;s role in international conflicts, particularly in the Middle East.



Read Next



<a href="https://www.benzinga.com/news/politics/25/06/46042298/trump-publicly-contradicts-dni-gabbards-claim-that-iran-lacks-nuclear-capabilities-shes-wrong" target="_blank" rel="noreferrer noopener">Trump Publicly Contradicts DNI Gabbard's Claim That Iran Lacks Nuclear Capabilities: ‘She's Wrong'</a>



Image: Shutterstock/lev radin

Marjorie Taylor Greene's Response To Trump Bombing Iran: 'Let Us Pray That We Are Not Attacked By Terrorists On Our Homeland'

In the holiday-shortened week, these ten large-cap stocks were top performers. Are they a part of your portfolio?



<ol class="wp-block-list">
<li>Circle Internet Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRCL#NYSE">CRCL</a>) stock gained 125.53% last week after the U.S. Senate passed <a href="https://www.benzinga.com//node/46034000" target="_blank" rel="noreferrer noopener">the GENIUS Act</a>, which aims to regulate stablecoins. Seaport Global, which initiated coverage with a Buy rating and a <a href="https://www.benzinga.com/quote/CRCL/analyst-ratings" target="_blank" rel="noreferrer noopener">$235 price forecast</a>, also supported the rally.</li>



<li>Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) stock soared 27.93% last week after it launched its <a href="https://www.benzinga.com//node/46004688" target="_blank" rel="noreferrer noopener">Coinbase Payments stablecoin stack</a> and secured a crypto license in the EU.</li>



<li>AST SpaceMobile, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>) stock upped 24.43% after the company announced a partnership with Vodafone Idea to bring satellite broadband to smartphones in India. ASTS is also set to join the <a href="https://www.benzinga.com//node/46033050" target="_blank" rel="noreferrer noopener">Russell 1000 Index on June 27</a>.</li>



<li>CoreWeave, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWV#NASDAQ">CRWV</a>) stock jumped 23.23% last week after BofA Securities downgraded the stock to Neutral but raised the <a href="https://www.benzinga.com/quote/CRWV/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecast to $185</a>.</li>



<li>Symbotic Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYM#NASDAQ">SYM</a>) stock upped 21.39% last week.</li>



<li>Reddit, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>) stock gained 19.75% after launching AI-powered <a href="https://www.benzinga.com//node/45983296" target="_blank" rel="noreferrer noopener">ad features</a> and gaining visibility as the second most cited source in Google's AI summaries.</li>



<li>QXO, Inc.'s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QXO#NYSE">QXO</a>) stock gained 18.36% last week after it proposed to acquire GMS <a href="https://www.benzinga.com//node/46009046" target="_blank" rel="noreferrer noopener">for $95.20 per share in cash</a>.</li>



<li>Jabil Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBL#NYSE">JBL</a>) stock upped 15.14% after reporting <a href="https://www.benzinga.com//node/45972232" target="_blank" rel="noreferrer noopener">strong Q3 earnings and revenue</a>, prompting several analysts to <a href="https://www.benzinga.com/quote/JBL/analyst-ratings" target="_blank" rel="noreferrer noopener">raise their price forecast</a>.</li>



<li>Credo Technology Group Holding Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRDO#NASDAQ">CRDO</a>) stock jumped 15.03% last week. The stock has been gaining since June 2, when it reported better-than-expected Q4 results and received analyst upgrades.</li>



<li>Rocket Lab USA, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>) stock jumped 13.79% after a public spat between Elon Musk and Donald Trump spurred speculation around Rocket Lab's <a href="https://www.benzinga.com//node/46002335" target="_blank" rel="noreferrer noopener">potential role in Trump's Golden Dome</a> missile defense system, highlighting its position in national security space tech.</li>
</ol>



Read Next:



<a href="https://www.benzinga.com/markets/tech/25/06/46043303/consumer-tech-news-june-16-june-20-fed-holds-rates-trump-eyes-iran-moves-apple-taps-ai-accenture-shifts-strategy">Consumer Tech News (June 16-June 20): Fed Holds Rates, Trump Eyes Iran Moves, Apple Taps AI, Accenture Shifts Strategy</a>



Photo by Primakov via Shutterstock

Large Cap

Movers

ASTS

COIN

CRCL

CRDO

CRWV

RDDT

RKLB

AST SpaceMobile And Coinbase Global Are Among Top 10 Large Cap Gainers Last Week (June 16-20): Are The Others In Your Portfolio?

The tech world was abuzz over the week with a variety of stories, each more intriguing than the last. From potential acquisitions to massive data leaks, the weekend was anything but dull. Here&#8217;s a quick roundup of the top stories that shaped the tech landscape over the weekend.



Apple Considers Acquisition of Perplexity AI



Top executives at&nbsp;Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)&nbsp;have reportedly been discussing the potential acquisition of Perplexity AI. Adrian Perica, Apple&#8217;s head of M&amp;A, has been floating the idea with senior leaders, including services chief Eddy Cue, according to Bloomberg.



<a href="https://www.benzinga.com/markets/tech/25/06/46041473/apple-eyes-perplexity-ai-acquisition-while-facing-shareholder-lawsuit-over-exaggerated-ai-progress-report">Read the full article here.</a>



Massive Data Leak Exposes Billions of Login Records



A massive data leak has exposed over 16 billion login credentials tied to platforms like Apple, Google, and Facebook. This marks one of the most extensive exposures of personal data in history, according to cybersecurity researchers.



<a href="https://www.benzinga.com/markets/tech/25/06/46016990/apple-google-and-facebook-among-services-exposed-in-massive-leak-of-more-than-16-billion-login-records">Read the full article here.</a>



See Also:&nbsp;<a href="https://benzinga.com/markets/tech/25/06/45990957/trump-mobile-plans-to-launch-499-t-1-phone-made-in-the-usa-but-expert-says-you-dont-have-the-employe" target="_blank" rel="noreferrer noopener">Trump Mobile Plans To Launch $499 &#8216;T-1 Phone&#8217; Made In The USA: But Expert Says &#8216;You Don&#8217;t Have The Employees That Can Do It&#8217;</a>



Apple to Use AI for Speeding Up Custom Chip Design



Apple is reportedly exploring the use of generative artificial intelligence to accelerate the development of its custom chips. This was revealed by Johny Srouji, Apple&#8217;s senior vice president of hardware technologies, during a speech in Belgium last month.



<a href="https://www.benzinga.com/markets/tech/25/06/46010207/apple-hardware-executive-says-iphone-maker-plans-to-use-ai-for-speeding-up-custom-chip-design-high-potential-in-getting-more-design-work-in-less-time">Read the full article here.</a>



Apple Avoids $300 Million Patent Penalty



Apple has managed to dodge a $300 million patent infringement penalty after a federal appeals court ruled that faulty jury instructions violated the tech giant&#8217;s constitutional rights in its dispute with patent licensing firm Optis Cellular Technology.



<a href="https://www.benzinga.com/news/legal/25/06/45989818/apple-dodges-300-million-patent-penalty-as-appeals-court-cites-jury-instruction-errors-in-lte-dispute-with-optis">Read the full article here.</a>



Apple Extends iOS 26 Feature to Third-Party Apps



Apple is reportedly extending one of iOS 26&#8217;s new features—animated album art on the lock screen—to third-party music and audio apps. This breaks its exclusive tie to Apple Music.



<a href="https://www.benzinga.com/markets/tech/25/06/45942472/apple-opens-ios-26-lock-screen-animation-to-spotify-and-other-third-party-music-apps-report">Read the full article here.</a>



Photo courtesy: jamesteohart / Shutterstock.com



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

Apple's Potential AI Acquisition, Massive Data Leak, And More: This Week In Appleverse

The Federal Reserve kept its benchmark interest rate unchanged at 4.25%–4.50% for the sixth straight meeting, with Chair Jerome Powell signaling no near-term cuts despite <a target="_blank" href="https://www.benzinga.com/personal-finance/management/25/06/46011739/jerome-powell-led-fed-has-left-interest-rate-unchanged-what-does-it-mean-for-savings-mortgages-credit-cards-and-your-bank-account" rel="noreferrer noopener">mounting pressure from the White House.</a>



Meanwhile, global uncertainty ticked higher as White House Press Secretary Karoline Leavitt revealed the U.S. remains open to negotiations with Iran, even as President Donald Trump weighs potential military action—<a target="_blank" href="https://www.benzinga.com/news/25/06/46017426/trump-gives-iran-2-weeks-to-strike-a-deal-or-face-us-military-action" rel="noreferrer noopener">promising a decision "within the next two weeks."</a>



Amid these macro headlines, the consumer tech sector pressed on with notable developments.



Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/media/25/04/44873349/openai-and-softbanks-stargate-considers-major-uk-investment-to-fuel-ai-growth" rel="noreferrer noopener">OpenAI And SoftBank's Stargate Considers Major UK Investment To Fuel AI Growth</a>



Earnings Results



Accenture (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>) reported quarterly earnings of $3.49 per share, topping&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/earnings/25/06/46024923/accenture-new-bookings-fall-in-q3-but-it-raises-profit-outlook" rel="noreferrer noopener">the&nbsp;analyst consensus estimate of $3.31</a>.



Accenture announced a&nbsp;strategic overhaul of its growth model, effective September 1, 2025, with a sharpened focus on AI.



Technology



Nvidia&nbsp;Corporation&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)&nbsp;venture capital arm,&nbsp;NVentures, has joined a $650 million funding round for&nbsp;TerraPower, a nuclear energy company founded by&nbsp;Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)&nbsp;co-founder&nbsp;Bill Gates.



Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly looking to harness the power of generative artificial intelligence to accelerate the development of the&nbsp;custom chips that power&nbsp;its devices, <a target="_blank" href="https://www.benzinga.com/markets/tech/25/06/46010207/apple-hardware-executive-says-iphone-maker-plans-to-use-ai-for-speeding-up-custom-chip-design-high-potential-in-getting-more-design-work-in-less-time" rel="noreferrer noopener">according to senior executive&nbsp;</a><a target="_blank" href="https://www.benzinga.com/markets/tech/25/06/46010207/apple-hardware-executive-says-iphone-maker-plans-to-use-ai-for-speeding-up-custom-chip-design-high-potential-in-getting-more-design-work-in-less-time" rel="noreferrer noopener">Johny Srouji</a><a target="_blank" href="https://www.benzinga.com/markets/tech/25/06/46010207/apple-hardware-executive-says-iphone-maker-plans-to-use-ai-for-speeding-up-custom-chip-design-high-potential-in-getting-more-design-work-in-less-time" rel="noreferrer noopener">.</a>



Texas Instruments Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>) announced a&nbsp;$60 billion plan&nbsp;to expand U.S.-based semiconductor manufacturing, marking what the company says is the largest investment in <a target="_blank" href="https://www.benzinga.com/markets/tech/25/06/45998624/texas-instruments-announces-60-billion-us-semiconductor-manufacturing-boost" rel="noreferrer noopener">foundational chip production in the nation's history.</a>



Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>)&nbsp;cloud unit is set to launch its second data center in South Korea to capitalize <a target="_blank" href="https://www.benzinga.com/markets/tech/25/06/46032308/alibaba-expands-ai-cloud-footprint-in-south-korea-with-new-data-hub-launching-in-june" rel="noreferrer noopener">on the generative AI frenzy.</a>



Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)&nbsp;is reportedly in discussions to hire&nbsp;Nat Friedman, former CEO of&nbsp;GitHub, to support <a target="_blank" href="https://www.benzinga.com/markets/tech/25/06/46010604/mark-zuckerbergs-meta-reportedly-looking-to-hire-former-github-ceo-nat-friedman-and-investor-daniel-gross-as-part-of-aggressive-ai-expansion-strategy" rel="noreferrer noopener">its artificial intelligence efforts</a>.



The&nbsp;Trump Organization&nbsp;is&nbsp;entering the wireless industry&nbsp;with plans to launch a smartphone called the &#8220;T-1 Phone,&#8221; priced at $499 and promoted as being manufactured in the U.S.—a promise experts say may <a target="_blank" href="https://www.benzinga.com/markets/tech/25/06/45990957/trump-mobile-plans-to-launch-499-t-1-phone-made-in-the-usa-but-expert-says-you-dont-have-the-employees-that-can-do-it" rel="noreferrer noopener">not hold up under scrutiny.</a>



Artificial Intelligence (AI)



Softbank Group Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>)&nbsp;founder&nbsp;Masayoshi Son is spearheading an alliance with&nbsp;Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), proposing a $1 trillion industrial complex in Arizona.



OpenAI chief executive&nbsp;Sam Altman says he &#8220;didn&#8217;t think Elon was going to abuse his power in the government to unfairly compete&#8221; but now believes he was wrong after Tesla&#8217;s founder allegedly tried to derail OpenAI&#8217;s $500 billion <a target="_blank" href="https://www.benzinga.com/markets/tech/25/06/46023822/sam-altman-says-he-didnt-think-elon-musk-would-abuse-government-power-tesla-ceo-hits-back-with-scam-altman-jibe" rel="noreferrer noopener">&#8220;Stargate&#8221; data-center deal.</a>



Automobiles



Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)&nbsp;is reportedly working on a 6-seater <a target="_blank" href="https://www.benzinga.com/markets/tech/25/06/46020870/elon-musks-tesla-to-expand-model-y-lineup-with-new-6-seater-version-report" rel="noreferrer noopener">variant of the Model Y crossover SUV.</a>



Tesla will shut down production at the Texas Gigafactory, which manufactures the Cybertruck and the Model Y, <a target="_blank" href="https://www.benzinga.com/markets/tech/25/06/45989148/tesla-will-shut-down-production-at-the-texas-gigafactory-over-the-4th-of-july-weekend" rel="noreferrer noopener">over the Independence Day weekend.</a>



Ford Motor Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) has recalled more than 197,000 vehicles in the latest recall over an issue affecting the backseat occupants, <a target="_blank" href="https://www.benzinga.com/markets/tech/25/06/46012477/ford-recalls-over-197000-vehicles-for-backseat-issue-that-could-trap-occupants-in-emergency-situations" rel="noreferrer noopener">where they may remain locked inside the vehicle.</a>



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Consumer Tech News (June 16-June 20): Fed Holds Rates, Trump Eyes Iran Moves, Apple Taps AI, Accenture Shifts Strategy

In the holiday-shortened week, these ten large-cap stocks were the worst performers. Are they a part of your portfolio?



<ol class="wp-block-list">
<li>AppLovin Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) stock fell 14.68% last week, continuing its fall after a short-sell report <a href="https://www.benzinga.com/trading-ideas/short-ideas/25/06/45910389/short-seller-says-applovin-is-desperate-and-doomed-shares-slide" target="_blank" rel="noreferrer noopener">issued by Culper Research</a>.</li>



<li>First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) stock lost 13.6% last week amid a broader decline in solar stocks after the U.S. Senate Finance Committee unveiled its version of President Trump's tax bill, which <a href="https://www.benzinga.com//node/45971345" target="_blank" rel="noreferrer noopener">slashed renewable energy incentives</a>.</li>



<li>James Hardie Industries plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JHX#NYSE">JHX</a>) stock declined 11.23%.</li>



<li>BeOne Medicines Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONC#NASDAQ">ONC</a>) stock dipped 10.65% last week.</li>



<li>GlaxoSmithKline plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>) stock dropped 10.4% last week.</li>



<li>Accenture plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>) stock fell 10.3% amid a selloff following the company's Q3 financial results.</li>



<li>Arista Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>) stock declined 9.94% amid a tech sector pullback driven by rising Middle East tensions between Israel and Iran.</li>



<li>Li Auto Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) stock fell 9.91% amid China's suspension of trade-in subsidies for EVs and fuel-efficient cars in key urban markets.</li>



<li>Corpay, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPAY#NYSE">CPAY</a>) stock fell 9.64% last week amid pressure from Coinbase Global&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) announcement of its <a href="https://www.benzinga.com//node/46004688" target="_blank" rel="noreferrer noopener">new stablecoin payments</a> stack, which may impact Corpay's business outlook.</li>



<li>Mastercard Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>) stock lowered 9.56% last week amid a broader selloff in credit card stocks following Coinbase's launch of <a href="https://www.benzinga.com//node/46004688" target="_blank" rel="noreferrer noopener">its stablecoin payments infrastructure</a>.</li>
</ol>



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<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/06/46043303/consumer-tech-news-june-16-june-20-fed-holds-rates-trump-eyes-iran-moves-apple-taps-ai-accenture-shifts-strategy" target="_blank" rel="noreferrer noopener">Consumer Tech News (June 16-June 20): Fed Holds Rates, Trump Eyes Iran Moves, Apple Taps AI, Accenture Shifts Strategy</a></li>



<li><a href="https://www.benzinga.com/trading-ideas/movers/25/06/46043524/ast-spacemobile-and-coinbase-global-are-among-top-10-large-cap-gainers-last-week-june-16-20-are-the-others-in-your-portfolio">AST SpaceMobile And Coinbase Global Are Among Top 10 Large Cap Gainers Last Week (June 16-20): Are The Others In Your Portfolio?</a></li>
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Photo via Shutterstock

ANET

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AppLovin, First Solar And Li Auto Are Among Top 10 Large Cap Losers Last Week (June 16-20): Are The Others In Your Portfolio?

The past week in tech has been nothing short of exciting, with major companies making bold moves and industry leaders voicing their opinions. From Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) battling with OpenAI for top talent, to YouTube&#8217;s upcoming integration of advanced AI video tools, the landscape is rapidly evolving. Meanwhile, Elon Musk has been vocal about the inflated valuations of AI startups, and Amazon&#8217;s CEO has touted the transformative potential of Generative AI. Here&#8217;s a recap of the top stories.



Meta&#8217;s Battle with OpenAI for Talent Meta&#8217;s billion-dollar hiring spree in AI has hit a snag, according to CTO Andrew Bosworth. OpenAI is not letting its top minds go without a fight and is actively countering Meta&#8217;s lucrative job offers. This revelation came during Bosworth&#8217;s interview with CNBC&#8217;s Closing Bell Overtime on Friday.



<a href="https://www.benzinga.com/markets/tech/25/06/46041399/meta-tried-luring-openais-top-minds-with-massive-paychecks-but-sam-altman-neglected-to-mention-that-hes-countering-those-offers-says-andrew-bosworth">Read the full article here.</a>



YouTube Shorts to Feature Veo 3 AI Video Tools YouTube, a subsidiary of Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), is set to integrate Google&#8217;s latest generative AI video model, Veo 3, into YouTube Shorts. This announcement was made by YouTube CEO Neal Mohan during a keynote at the Cannes Lions Festival.



<a href="https://www.benzinga.com/markets/tech/25/06/46011121/youtube-shorts-will-soon-feature-veo-3-ai-video-tools-with-audio-and-higher-quality-but-creators-may-need-a-paid-plan">Read the full article here.</a>



See Also:&nbsp;<a href="https://benzinga.com/crypto/cryptocurrency/25/06/46037332/bitcoin-ethereum-xrp-dogecoin-pull-back-after-technical-rejection-no-one-wants-to-be-long-into-the-weekend" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, XRP, Dogecoin Pull Back After Technical Rejection &#8211; Benzinga</a>



Elon Musk&#8217;s Take on AI Startup Valuations Elon Musk has criticized the current AI startup landscape, stating that the hype has led to inflated startup prices. He referred to these startups as a &#8220;herd of unicorns&#8221; during his talk at Y Combinator&#8217;s AI Startup School.



<a href="https://www.benzinga.com/markets/tech/25/06/45989519/elon-musk-blames-ai-hype-for-1-billion-startup-valutions-there-are-so-many-frickin-unicorns">Read the full article here.</a>



Meta&#8217;s AI Smart Glasses Collaboration Meta is teaming up with EssilorLuxottica to launch new AI-powered smart glasses under the Oakley and Prada brands. This follows the success of the second-generation Ray-Ban smart glasses, which were launched in 2023 through a partnership between Meta and Luxottica.



<a href="https://www.benzinga.com/markets/large-cap/25/06/45987099/meta-teams-up-with-oakley-prada-for-next-gen-ai-smart-glasses">Read the full article here.</a>



Amazon&#8217;s Embrace of Generative AI Amazon.com Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) CEO, Andy Jassy, highlighted the company&#8217;s extensive use of Generative AI in a recent blog post. Jassy described such technologies as rare and transformative, justifying Amazon&#8217;s aggressive investment.



<a href="https://www.benzinga.com/markets/tech/25/06/45982631/amazon-ceo-says-generative-ai-will-reduce-total-corporate-workforce">Read the full article here.</a>



Read Next:&nbsp;<a href="https://benzinga.com/news/topics/25/06/46024990/a-millennial-says-the-older-i-get-and-the-further-in-my-career-i-go-the-more-i-realize-how-deadly-acc" target="_blank" rel="noreferrer noopener">A Millennial Says, The Older I Get And The Further In My Career I Go, The More I Realize How Deadly Accurate &#8216;Office Space&#8217; Was</a>



Photo courtesy: Shutterstock



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

Meta's Battle With OpenAI, Youtube Innovations, And Billion-Dollar Unicorns: This Week In AI

The past week in the world of finance and technology was nothing short of exciting. From the backing of a crypto-friendly startup bank by big names in tech to the stunning surge of Circle&#8217;s stock, there was no shortage of intriguing developments.



Here&#8217;s a quick recap of the top stories that made headlines.



Anduril And Palantir Founders Back Crypto-Friendly Startup Bank



Palmer Luckey, founder of defense technology startup&nbsp;Anduril Industries, and&nbsp;Joe Lonsdale, co-founder of&nbsp;Palantir Technologies, have reportedly invested in a cryptocurrency-friendly banking startup. The startup aims to provide stability to Silicon Valley and assist tech entrepreneurs in growing their businesses.



<a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45944062/anduril-founder-palmer-luckey-palantir-co-founder-joe-lonsdale-to-invest-in-crypto-friendly-startup-bank-report">Read the full article here.</a>



Circle&#8217;s Stock Skyrockets By 540%



Circle Internet Group, Inc., the issuer behind the USD Coin, saw its stock surge by a whopping 540% since its IPO on June 5. The rally gained further momentum following the U.S. Senate&#8217;s passage of the GENIUS Act, a bill that would formally regulate dollar-backed stablecoins.



<a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46030182/circle-stock-rockets-540-cathie-wood-says-weve-just-begun">Read the full article here.</a>



See Also:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/06/46032425/tokens-are-a-lemon-market-heres-how-to-fix-it" target="_blank" rel="noreferrer noopener">Tokens Are A Lemon Market&#8230;Here&#8217;s How To Fix It</a>



Bitcoin, Ethereum, Dogecoin Remain Rangebound



Leading cryptocurrencies, including Bitcoin, Ethereum and Dogecoin, moved sideways as Federal Reserve Chair Jerome Powell signaled slower growth and hotter inflation. Bitcoin consolidated in the $104,000-$105,000 range.



<a href="https://www.benzinga.com/crypto/25/06/46010229/bitcoin-ethereum-dogecoin-rangebound-as-fed-chair-jerome-powell-highlights-tariff-induced-uncertainty-analyst-says-these-2-levels-are-key-for-btc">Read the full article here.</a>



Dogecoin Could See A 60% Move



Cryptocurrency analyst Ali Martinez projected a 60% price move for Dogecoin once it breaks free from a symmetrical triangle pattern. This pattern typically indicates a period of consolidation in the market before a potential breakout or breakdown.



<a href="https://www.benzinga.com/crypto/25/06/46020265/dogecoin-could-see-a-60-move-if-it-breaks-out-of-this-range-says-analyst-but-what-determines-its-direction">Read the full article here.</a>



Elizabeth Warren&#8217;s Warning on Stablecoins



Sen. Elizabeth Warren (D-Mass.) warned that stablecoin legislation could enable billionaires like Elon Musk and Jeff Bezos to exploit user data and engage in unfair trade practices. She argued that the GENIUS Act has a major loophole that allows Big Tech and major retailers to issue their own stablecoins.



<a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45965853/elizabeth-warren-says-billionaires-like-jeff-bezos-and-elon-musk-will-track-your-purchases-if-allowed-to-launch-stablecoins-and-stick-you-with-the-bill-when-it-blows-up">Read the full article here.</a>



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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>



Photo courtesy: Shutterstock

Media

Crypto-Friendly Startup Bank, Circle's Stock Surge And More: This Week In Crypto

The past week was a rollercoaster ride for the financial world. From&nbsp;Elon Musk&#8216;s dire warnings about the U.S. debt to&nbsp;Jerome Powell&#8216;s firm stance on interest rates, the week was filled with significant events that could shape the future of the global economy. Here&#8217;s a quick recap of the top stories.



Musk Warns Of &#8216;De Facto&#8217; Bankruptcy



Billionaire entrepreneur Elon Musk, CEO of&nbsp;Tesla Inc., raised concerns about the U.S. fiscal outlook. Musk warned that the U.S. is on the brink of &#8220;de facto bankruptcy&#8221; as the federal debt surpasses $37 trillion, with interest payments now accounting for a quarter of all tax revenue.



<a href="https://www.benzinga.com/markets/macro-economic-events/25/06/45988656/elon-musk-warns-us-faces-de-facto-bankruptcy-if-37-trillion-debt-not-tackled-peter-schiff-says-we-are-already-bankrupt">Read the full article here.</a>



Powell Holds Steady On Interest Rates



Federal Reserve Chair Jerome Powell defended the decision to keep interest rates unchanged, citing easing inflation and trade and geopolitical risks. Despite three consecutive months of positive inflation data, Powell stated that inflation is still running somewhat above the Fed&#8217;s 2% longer-run objective.



<a href="https://www.benzinga.com/markets/macro-economic-events/25/06/46006680/powell-holds-line-on-interest-rates-blames-tariff-uncertainty-for-delay-in-cuts">Read the full article here.</a>



See Also:&nbsp;<a href="https://benzinga.com/analyst-stock-ratings/analyst-color/25/06/45888833/mcdonalds-just-got-hammered-by-weight-loss-drugs-twice" target="_blank" rel="noreferrer noopener">McDonald&#8217;s Just Got Hammered By Weight-Loss Drugs — Twice</a>



Swiss Interest Rate Hits Zero



The Swiss National Bank cut its benchmark interest rate to 0%, the lowest level since 2022. This move amplifies the gap between U.S. and Swiss rates to record highs, influenced by declining inflationary pressure and a deteriorating global economic outlook.



<a href="https://www.benzinga.com/markets/eurozone/25/06/46015245/switzerland-interest-rate-reaches-0-gap-with-fed-funds-soars-to-historic-levels">Read the full article here.</a>



Rate Cut Odds Amid Middle East Tensions



Economist Jon Faust, a former senior advisor to Fed Chair Jerome Powell, suggested that the ongoing conflict in the Middle East could significantly alter the equations surrounding a rate cut. Faust believes that the Israel-Iran tensions could potentially tip the U.S. economy into a slowdown.



<a href="https://www.benzinga.com/markets/macro-economic-events/25/06/45944853/rate-cut-odds-50-50-amid-israel-iran-conflict-says-jerome-powells-ex-advisor-jon-faust">Read the full article here.</a>



Powell Blames Tariffs For Inflation



Jerome Powell, during his press conference, attributed the rise in the inflation median forecast to the effects of tariffs. This statement has left analysts divided, with some believing that the central bank is overplaying the inflation story.



<a href="https://www.benzinga.com/markets/economic-data/25/06/46011863/jerome-powell-blames-trump-tariffs-for-inflation-analyst-claps-back-says-fed-is-overplaying-the-card">Read the full article here.</a>



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<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45988475/us-military-action-on-iran-odds-rise-on-crypto-betting-site-polymarket-as-trump-demands-unconditional-surrender" target="_blank" rel="noreferrer noopener">US Military Action On Iran? Odds Rise On Crypto Betting Site Polymarket As Trump Demands ‘Unconditional Surrender'</a></li>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>



Photo courtesy: Shutterstock

Musk's Debt Warning, Powell's Rate Stance And More: This Week In Economics

Investor caution dominated Wall Street this week, as escalating tensions between Israel and Iran fueled fears of potential U.S. involvement. Plus, the Federal Reserve's decision to keep rates as is peeved President Donald Trump.



The Federal Reserve kept interest rates steady at 4.25%-4.5% for the fourth consecutive meeting, <a href="https://www.benzinga.com/markets/economic-data/25/06/46004338/no-rate-cuts-yet-fed-flags-slower-growth-sticky-inflation">reaffirming its cautious stance. </a>



Overall economic uncertainty has &#8220;diminished&#8221; since March, but the Fed warns that risks remain elevated. Policymakers maintain their median projection of two rate cuts in 2025, while trimming the 2026 outlook from three cuts to two — signaling a slightly more hawkish stance.



See Also: <a href="https://www.benzinga.com/markets/equities/25/06/46035360/stock-market-today-news-sp500-nasdaq-trump-iran-bitcoin">S&amp;P 500 Extends Retreat From Highs, Bitcoin Falls Below $103,000: What&#8217;s Driving Markets Friday?</a>



<h3 class="wp-block-heading">Powell Defends The Decision</h3>



Federal <a href="https://www.benzinga.com/news/politics/25/06/45999380/trump-powell-again-markets-breathe-iran-rejects-demands">Reserve Chair Jerome Powell</a> defended the pause. He argues that while inflation has moderated, it is still too high to justify rate reductions. He cited new inflationary pressures stemming from tariffs tied to <a href="https://www.benzinga.com/topic/tariffs">trade policy changes</a>.



The Fed now forecasts 2025 headline inflation at 3%, up from 2.7% in March. Meanwhile, GDP growth was revised downward to 1.4% in 2025, from a prior estimate of 1.7%.



However, in a Friday interview with CNBC, Federal Reserve Governor Christopher Waller said the U.S. central bank could start cutting interest rates <a href="https://www.benzinga.com/etfs/sector-etfs/25/06/46035535/fed-guv-says-rate-cuts-july-rate-sensitive-etfs-fed-pivot-looms">as early as July</a>.



Waller is a Trump appointee.



Trump, meanwhile, took to calling Powell names in a social media post, labeling the Fed Chair "an American disgrace," arguing that the Fed&#8217;s inaction costs the U.S. billions in higher interest payments.



Federal Housing Finance Agency Director Bill Pulte echoed the sentiment, calling for Powell's immediate resignation and blaming him for damaging the housing market. <a href="https://www.benzinga.com/markets/25/06/45814493/its-a-buyers-market-redfin-reports-there-are-34-more-sellers-in-the-market-than-buyers" target="_blank" rel="noreferrer noopener">Homes are sitting on the market</a> for weeks or even months while <a href="https://www.benzinga.com/news/25/03/44218740/kevin-oleary-says-prices-arent-going-down-eggs-energy-and-housing-remain-sky-high-but-he-thinks-its-part-of-a-bigger-strategy" target="_blank" rel="noreferrer noopener">prices remain sky high</a> and <a href="https://www.benzinga.com/money/mortgage-rates" target="_blank" rel="noreferrer noopener">mortgage rates</a> remain near 6.8%.



Read Also: <a href="https://www.benzinga.com/markets/macro-economic-events/25/06/46006680/powell-holds-line-on-interest-rates-blames-tariff-uncertainty-for-delay-in-cuts">Why Powell Held Rates Steady, And What Trump&#8217;s Iran Comments Could Mean For Markets</a>



<h3 class="wp-block-heading">Energy Sector</h3>



Oil prices, which spiked in the prior week, steadied near $73 per barrel. Powell dismissed parallels with the 1970s oil shocks, stating that while further price spikes are possible, they are unlikely to generate persistent inflationary effects.



Meanwhile, two major Congressional developments shaped market action. The Senate's draft tax bill proposed phasing out clean energy and solar tax credits earlier than anticipated, sparking a steep sell-off in renewables. 



<ul class="wp-block-list">
<li>First Solar Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) tumbled 13% on the week</li>



<li>Enphase Energy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) dropped 18%, and </li>



<li>Sunrun (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>) plunged 35%.</li>
</ul>



On The Crypto Front: Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) surged 27% on the week after the Senate passed a bill establishing a federal framework for dollar-pegged cryptocurrencies, known as stablecoins.



The bill offers what its supporters argue is <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46025145/saks-stablecoin-bill-treasury-buying-trump-ties-cloud-push">long-awaited regulatory clarity</a> that could unleash capital from institutional investors. Critics, mostly Democrats, say it&#8217;s a conflict of interest <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45995223/genius-stablecoin-bill-clears-senate-but-trumps-crypto-profits-loom-over-momentum">for the Trump family</a>.



Now Read:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/eurozone/25/06/46026714/this-rare-market-dynamic-preceded-the-dot-com-crash-its-back-in-2025">This Rare Market Dynamic Preceded The Dot-Com Crash — It&#8217;s Back In 2025 </a></li>
</ul>



Image created using artificial intelligence via Midjourney.

Government

Regulations

Federal Reserve

ENPH

Wall Street Wavers As Geopolitical Tensions Flare, Trump Renews Attacks On Fed Chair Powell: This Week In Markets

The past week has been a rollercoaster ride in the tech and auto sectors. From&nbsp;Tesla Inc. making headlines with its upcoming Robotaxi launch to&nbsp;Boeing Co. facing safety concerns, there&#8217;s a lot to unpack.



Let&#8217;s dive into the top stories of the week.



Tesla&#8217;s Robotaxi Launch Could Be Key To $310 Price Target



Gary Black, managing director of Future Fund LLC, has set a $310 price target for Tesla Inc. ahead of the company&#8217;s Robotaxi launch in Austin on June 22. Black shared his insights on the potential impact of the Robotaxi launch on Tesla&#8217;s stock performance on a social media platform.



<a href="https://www.benzinga.com/markets/tech/25/06/45991403/teslas-robotaxi-launch-could-be-key-to-310-price-target-says-gary-black">Read the full article here.</a>



Boeing Faces Backlash After Fatal Aircrash



Boeing Co. has been under scrutiny following a fatal air crash in India&#8217;s Ahmedabad. The Boeing 787 Dreamliner, operated by Air India, crashed into a residential area shortly after takeoff, leading to serious questions about the safety and quality of Boeing aircraft.



<a href="https://www.benzinga.com/markets/tech/25/06/45991614/if-its-boeing-im-not-going-why-some-people-are-turning-their-backs-on-the-american-plane-maker-in-favor-of-rival-airbus">Read the full article here.</a>



See Also:&nbsp;<a href="https://benzinga.com/markets/tech/25/06/46039679/just-as-tesla-lined-up-its-big-move-waymo-went-bigger" target="_blank" rel="noreferrer noopener">Just As Tesla Lined Up Its Big Move, Waymo Went Bigger</a>



Tesla&#8217;s Production Cost Advantage Over Waymo



Tesla Inc. is reportedly closer to achieving full autonomy than competitors like Alphabet Inc.&#8217;s autonomous driving company, Waymo. This is largely due to Tesla&#8217;s ability to produce cars at a fraction of the price, allowing for more vehicles on the road.



<a href="https://www.benzinga.com/markets/tech/25/06/45966726/tesla-vehicle-production-cost-1-7-that-of-waymo-elon-musks-ev-giant-closer-to-full-autonomy-than-competition-report">Read the full article here.</a>



BYD Surpasses Tesla In Global EV Sales



Tesla Inc. has been outpaced in global sales for the first time by rival BYD Co. Ltd. According to the International Council on Clean Transportation, Chinese automakers are building significant leads in the zero-emission vehicle market.



<a href="https://www.benzinga.com/markets/tech/25/06/45969242/elon-musk-has-a-new-problem-byd-beats-tesla-in-global-ev-sales-amid-europe-expansion">Read the full article here.</a>



Ford Recalls Over 197,000 Vehicles



Ford Motor Co.&nbsp;has issued a recall for more than 197,000 vehicles due to a backseat issue that could potentially trap occupants inside the vehicle. The recall affects Ford Mustang Mach-E models from 2021-2025.



<a href="https://www.benzinga.com/markets/tech/25/06/46012477/ford-recalls-over-197000-vehicles-for-backseat-issue-that-could-trap-occupants-in-emergency-situations">Read the full article here.</a>



Read Next:



<ul class="wp-block-list">
<li><a href="https://benzinga.com/markets/tech/25/06/46022793/nio-sets-stage-for-chip-arm-spin-off-eyes-external-clients-report" target="_blank" rel="noreferrer noopener">NIO Sets Stage For Chip Arm Spin-Off, Eyes External Clients: Report</a></li>
</ul>



This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>



Photo courtesy: Ken Wolter / Shutterstock.com

Tesla's Robotaxi, Boeing's Safety Concerns And Ford's Massive Recall: This Week In Mobility

The week was abuzz with political and business news, with headlines dominated by the ongoing legal battle between California and the Trump administration, escalating tensions between Iran and Israel, and Elon Musk&#8217;s decision to step away from politics. Here&#8217;s a quick recap of the top stories.



California vs. Trump: The National Guard Dispute Intensifies



California&#8217;s legal conflict with the Trump administration over the deployment of military forces in Los Angeles has taken a new turn. An appeals court decision has provided Trump with a procedural advantage, allowing him to maintain control over the National Guard troops he deployed amid protests against immigration raids.



<a href="https://www.benzinga.com/news/politics/25/06/46041458/california-trump-legal-battle-over-national-guard-deployment-escalates-after-court-ruling">Read the full article here.</a>



Iranian Official Calls on Trump to End Conflict with Israel



An Iranian official has stated that diplomacy with the U.S. could resume instantly—if Donald Trump ordered Israel to stop bombing Iran. Majid Farahani, an official with Iran&#8217;s presidency, said the U.S. holds the key to ending the escalating conflict between Iran and Israel.



<a href="https://www.benzinga.com/news/politics/25/06/46041289/trump-could-stop-this-war-with-one-phone-call-says-iranian-official-as-tehran-warns-us-of-retaliation-if-conflict-with-israel-escalates">Read the full article here.</a>



See Also:&nbsp;<a href="https://benzinga.com/news/politics/25/06/46022419/elon-musk-says-cleaning-up-government-is-like-picking-up-trash-on-a-beach-before-a-thousand-foot-ai" target="_blank" rel="noreferrer noopener">Elon Musk Says Cleaning Up Government Is Like Picking Up Trash On A Beach Before A Thousand-Foot AI Tsunami Hits—And That&#8217;s Why He&#8217;s Done With Politics</a>



Elon Musk Steps Away from Politics



Elon Musk, CEO of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), has announced that he&#8217;s done with politics. Speaking at the AI Startup School by Y Combinator, Musk described his brief stint in the federal government as a "side quest" that quickly proved less impactful than his core mission, which is building transformative technologies.



<a href="https://www.benzinga.com/news/politics/25/06/46022419/elon-musk-says-cleaning-up-government-is-like-picking-up-trash-on-a-beach-before-a-thousand-foot-ai-tsunami-hits-and-thats-why-hes-done-with-politics">Read the full article here.</a>



Trump Applauds Senate&#8217;s Passing of Stablecoin Legislation



President Donald Trump has praised the Senate's passing of the stablecoin legislation, urging Congress to get it to his desk without delays. In a Truth social post, Trump said that the "incredible" GENIUS Act would position the U.S. as the "undisputed" leader in digital assets.



<a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46009971/trump-cheers-incredible-stablecoin-bill-passed-by-senate-get-it-to-my-desk-asap-no-delays">Read the full article here.</a>



Musk Responds to Trump&#8217;s Drug Accusations



In response to Trump&#8217;s &#8216;big-time drug addict&#8217; jibe, Elon Musk posted laboratory results showing negative drug test results for over 20 substances, including cocaine, opiates, and cannabinoids. Musk shared the lab report with a simple "lol" comment.



<a href="https://www.benzinga.com/news/politics/25/06/45968031/elon-musk-claps-back-at-trumps-big-time-drug-addict-jibe-says-he-tested-negative-for-over-20-substances">Read the full article here.</a>



Read Next:&nbsp;<a href="https://benzinga.com/news/politics/25/06/46041289/trump-could-stop-this-war-with-one-phone-call-says-iranian-official-as-tehran-warns-us-of-retaliation-if-conflict-with-israel-escalates" target="_blank" rel="noreferrer noopener">Trump Could Stop This War With One Phone Call, Says Iranian Official As Tehran Warns US Of Retaliation If Conflict With Israel Escalates &#8211; Benzinga</a>



Photo courtesy: Maxim Elramsisy / Shutterstock.com



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

Politics

Trump's Legal Win, Iran's Plea, Musk's Exit And More: This Week In Politics

Iran's Foreign Minister&nbsp;Abbas Araghchi&nbsp;warned on Saturday, before the U.S. launched airstrikes on the country's nuclear facilities in Fordow, Natanz, and Isfahan, that if the United States got involved in the Israel-Iran conflict, the result would be "very, very dangerous" for everybody. The U.S. launched attacks on Saturday evening around 8:00 pm ET.



"The tweets, interviews by the U.S. President, [it's] quite clear that he&#8217;s talking about the U.S. leadership on these questions [of a potential U.S. involvement]," Aragachi told reporters, <a href="https://time.com/7296396/iran-new-warning-trump-united-states-israel-conflict-dangerous/">according</a> to Time Magazine. &nbsp;"Unfortunately, we have heard that the U.S. may join in this aggression. That would be very unfortunate and I think that would be very, very dangerous for everybody."



President Trump announced the Iran strikes on <a href="https://truthsocial.com/@realDonaldTrump/posts/114724035571020048">Truth Social</a>. 



&#8220;We have completed our very successful attack on the three Nuclear sites in Iran, including Fordow, Natanz, and Esfahan. All planes are now outside of Iran air space. A full payload of BOMBS was dropped on the primary site, Fordow. All planes are safely on their way home. Congratulations to our great American Warriors. There is not another military in the World that could have done this. NOW IS THE TIME FOR PEACE! Thank you for your attention to this matter.&#8221;



Trump had previously indicated that the U.S. was not involved in the Israeli strikes and that he was intending to give the situation two weeks, implying that U.S.-Iran negotiations were a possibility. Iranian officials replied that talks would not be helpful while Israeli attacks continued.



"In order for us to come back to diplomacy, the aggression should be stopped," Araghchi said. "I cannot go to negotiation with the United States when our people are under bombardment, under the support of the United States."



Following Saturday&#8217;s U.S. bombing, Iranian officials said the country's nuclear agency had already moved all relevant nuclear material from the three sites that were hit, according to MSNBC.



Trump has stated multiple times in the first months of his second term that a deal with Iran would have to include a ban on the nation&#8217;s enriching uranium—something that would allow them to produce nuclear weapons.



He has also called for something more permanent than a cease-fire. 



"We&#8217;re looking for better than a cease-fire," Trump told reporters on Air Force One on June 17 as he left the G7 summit. "A real end, not a cease-fire. An end… giving up, entirely."



Meanwhile, following Saturday&#8217;s U.S. air strikes, Iran has said all communications inside the country had been cut to avoid what officials have called &#8220;Israeli infiltration.&#8221; Per reports, chaos and insecurity have deepened on the ground among Tehran&#8217;s approximately nine million residents.



Photo: Shutterstock

Iran Calls US Bombing Of Nuclear Sites 'Very, Very Dangerous For Everybody'

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