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Envoy Medical

Envoy Medical Inc is a hearing health company focused on providing medical technologies. It is dedicated to pushing hearing technology beyond the status quo to provide patients with improved access, usability, independence and quality of life. The Company has one reportable segment: hearing. The hearing segment derives revenue from the sale of the Esteem FI-AMEI implants and replacement components to Esteem FI-AMEI implants.

Envoy Medical, Inc. - Class A Common Stock

Envoy Medical Inc

Cochlear Ltd

The CNN Money Fear and Greed index showed further improvement in the overall market sentiment, while the index remained in the &#8220;Greed&#8221; zone on Friday.
U.S. stocks settled higher on Friday, with the S&amp;P 500 surging to fresh records during the session as investors responded to easing trade tensions and geopolitical risks with robust buying.
President Donald Trump said the U.S. is in the process of finalizing multiple trade agreements, suggesting that four to five deals are either completed or close to completion ahead of a key July 9 deadline. Sentiment was further lifted after Commerce Secretary Howard Lutnick confirmed a new U.S.-China trade accord that includes tariff reductions and safeguards for rare earth imports.
Nike Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) jumped 15% on Friday after reporting quarterly earnings that crushed Wall Street expectations. Boeing Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) advanced 6% following a bullish analyst note from RedBurn Atlantic.
Most sectors on the S&amp;P 500 closed on a positive note, with communication services, consumer discretionary and industrials stocks recording the biggest gains on Friday. However, energy and health care stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 432 points to 43,819.27 on Friday. The S&amp;P 500 rose 0.52% to 6,173.07 with the index gaining as much as 0.76% to a high of 6,187.68 earlier during the session, while the Nasdaq Composite climbed 0.52% to 20,273.46 during Friday's session.
Investors are awaiting earnings results from Progress Software Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRGS#NASDAQ">PRGS</a>) and Quantum Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QMCO#NASDAQ">QMCO</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 64.6, the index remained in the &#8220;Greed&#8221; zone on Friday, versus a prior reading of 62.7.
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 courtesy: Shutterstock

Pre-Market Outlook

PRGS

QMCO

S&P Hits Record High Amid Easing Trade Tensions: Investor Sentiment Improves, Fear Index Remains In 'Greed' Zone

Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) continues to solidify its position as a frontrunner in monetizing artificial intelligence (AI), driving substantial gains for investors, explains Nigam Arora as he raises his price target on the Windows maker.
What Happened: According to a <a href="https://blog.thearorareport.com/msft-250627/">recent note</a> from the Arora Report, Microsoft, currently trading at $494.24, has seen an astounding 1403% gain since the company&#8217;s original long position on the stock at $32.88.
Microsoft&#8217;s strategic initiatives, including the integration of Copilot into Office, Dynamics, and Teams, are significantly deepening subscription revenues, explains Arora. The rollout of Copilot Plus PCs is further set to boost on-device AI capabilities, expanding the company&#8217;s reach.
Azure, Microsoft&#8217;s cloud computing arm, remains a compelling growth driver, exhibiting double-digit growth that is currently outstripping competitors and maintaining healthy margins. The recent breakout in MSFT&#8217;s stock technicals further reinforces this positive momentum.
Despite certain risks, the commentary points to a strong conviction in Microsoft&#8217;s continued upward trajectory.
The Arora Report has raised its target zone for MSFT to an ambitious $713 – $726, suggesting an expected gain of approximately 44% from current levels.
For new investors, the report advises a cautious approach, recommending limiting initial positions and planning to scale up if the stock experiences a dip.
Existing holders are encouraged to maintain their positions, capitalizing on Microsoft&#8217;s leading role in the AI revolution.
See Also: <a href="https://www.benzinga.com/markets/equities/25/06/46108861/microsoft-is-playing-chess-and-others-are-playing-checkers-dan-ives-says-msft-could-be-a-5-trillion-company-in-18-months">Microsoft Is &#8216;Playing Chess, And Others Are Playing Checkers:&#8217; Dan Ives Says MSFT Could Be A $5 Trillion Company In 18 Months</a>
Why It Matters: However, the Arora Report&#8217;s comprehensive 360-degree analysis also highlights crucial risks.
The intensifying competition in the cloud computing space from Amazon.com Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) AWS and Alphabet Inc.&#8216;s (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>) subsidiary Google&#8217;s Cloud platform presents a notable challenge.
Furthermore, potential supply constraints on advanced chips, vital for AI infrastructure, could impede growth. The increasing scrutiny and tightened regulation of cloud platforms and AI technologies also pose regulatory hurdles that Microsoft must navigate.
Price Action: MSFT shares ended 0.30% lower at $495.94 apiece on Friday. It has risen by 18.48% on a year-to-date basis and 8.58% over the past year.
Benzinga Edge Stock Rankings shows that MSFT had a stronger price trend over the short, medium, and long term. Its momentum ranking was solid; however, its value ranking was poor at the 13.24th percentile. The details of other metrics are <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here</a>.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="154" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/30030311/MSFT-Edge-new-latest-1024x154.png" alt="" class="wp-image-966348" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/30030311/MSFT-Edge-new-latest-1024x154.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/30030311/MSFT-Edge-new-latest-300x45.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/30030311/MSFT-Edge-new-latest-768x115.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/30030311/MSFT-Edge-new-latest.png 1165w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, ended higher on Friday. The SPY was up 0.50% at $614.91, while the QQQ advanced 0.34% to $548.09, according to Benzinga Pro data.
After hitting a fresh record on Friday, the futures of the S&amp;P 500, Nasdaq 100, and Dow Jones indices were trading higher on Monday.
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/25/06/46091818/microsoft-stock-poised-for-23-rally-as-ai-monetization-gains-steam-dan-ives-says" target="_blank" rel="noreferrer noopener">Microsoft Stock Poised For 23% Rally As AI Monetization Gains Steam, Dan Ives Says</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Tada Images / Shutterstock.coma

Equities

AMZN

GOOG

GOOGL

MSFT

Microsoft Stock Could Soar 44% On AI Boom, Analyst Says — But There's A Catch

With U.S. stock futures trading higher this morning on Monday, some of the stocks that may grab investor focus today are as follows:
<ul class="wp-block-list">
<li>Wall Street expects Progress Software Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRGS#NASDAQ">PRGS</a>) to report quarterly earnings at $1.30 per share on revenue of $237.52 million after the closing bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Progress Software shares gained 0.4% to $64.00 in after-hours trading.</li>
<li>Exicure Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XCUR#NASDAQ">XCUR</a>) posted earnings of 49 cents per share, versus a year-ago loss of 48 cents per share. Exicure shares gained 2.6% to $6.04 in the after-hours trading session.</li>
<li>Analysts are expecting Quantum Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QMCO#NASDAQ">QMCO</a>) to post a loss at $1.17 per share on revenue of $65.95 million for the latest quarter. The company will release earnings after the markets close. Quantum shares rose 0.1% to $9.05 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul class="wp-block-list">
<li>Venus Concept Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VERO#NASDAQ">VERO</a>) shares rose sharply in after-hours trading after Madryn Asset Management increased its stake in the company to 85.5%. Venus Concept shares jumped 43.6% to $3.13 in the after-hours trading session.</li>
<li>IGC Pharma, Inc. (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/IGC#AMEX">IGC</a>) reported a quarterly loss of 1 cent per share, versus market estimates of a loss of 2 cents per share. The company reported quarterly sales of $330,000, which beat the analyst consensus estimate of $305,000. IGC Pharma shares fell 0.3% to close at $0.3090 on Friday.</li>
</ul>
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Photo courtesy: mariakray / Shutterstock.com

VERO

XCUR

Progress Software, Exicure And 3 Stocks To Watch Heading Into Monday

News

JVSA

Reported Friday, Hotel101 Global To Begin Nasdaq Trading As "HBNB" Following JVSPAC Merger Approval, To Begin Trading On July 1, 2025

<h3>Companies Reporting Before The Bell</h3>
<h3>Companies Reporting After The Bell</h3>
• Progress Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRGS#NASDAQ">PRGS</a>) is expected to report quarterly earnings at $1.30 per share on revenue of $237.23 million. 
• Quantum (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QMCO#NASDAQ">QMCO</a>) is projected to report earnings for its fourth quarter. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

Earnings Scheduled For June 30, 2025

Reported Friday, SBC Medical Group Holdings Joins Russell 3000 Index Following 2025 Indexes Reconstitution

President&nbsp;Donald Trump&nbsp;has revealed his intention to set new tariff rates unilaterally for various trading partners through letters. This decision will bypass the need for individual trade agreements.
What Happened:&nbsp;President Trump declared that the upcoming deadline for trade agreements is irrelevant, as the U.S. will assign tariff rates to numerous countries through letters. The halt on Trump&#8217;s comprehensive global tariffs is set to end in about ten days. Currently, only one deal and a temporary truce have been achieved, leaving&nbsp;the rest of the world&nbsp;in a state of uncertainty.
Trump voiced his preference for this method on Fox News&#8217; &#8220;Sunday Morning Futures&#8221;, saying, &#8220;We made deals, but I&#8217;d&nbsp;rather just send them a&nbsp;letter, a very fair letter,&nbsp;saying &#8216;congratulations, we&#8217;re&nbsp;going to allow you to&nbsp;trade in the United States&nbsp;of America, you&#8217;re&nbsp;going to pay a 25%&nbsp;tariff, or 20%, or 40&nbsp;or 50%&#8217;.&#8221;
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="‘BRING MORE JOBS': Trump urges more companies to move to US amid AI concerns" width="500" height="281" src="https://www.youtube.com/embed/XYl6yVEMndQ?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
Giving an example of ally nation, Japan, Trump stated that the letters would be on the lines of &#8220;Dear Mr. Japan, here&#8217;s the story. You&#8217;re going to pay a 25% tariff on your cars.&#8221;
When asked&nbsp;about extending the pause beyond the July 9 deadline, Trump&nbsp;replied, &#8220;I don&#8217;t think I&#8217;ll need to. I could, there&#8217;s no big deal.&#8221; He added that these letters would be sent out &#8220;pretty soon&#8221; and that meetings were unnecessary as &#8220;we&nbsp;understand, we have all the&nbsp;numbers.&#8221;
SEE ALSO:&nbsp;<a href="https://benzinga.com/crypto/25/06/46161391/pepe-leaps-ahead-of-dogecoin-shiba-inu-sunday-night-analyst-expects-jackpot-july-for-frog-themed-crypto" target="_blank" rel="noreferrer noopener">Pepe Leaps Ahead Of Dogecoin, Shiba Inu Sunday Night: Analyst Expects &#8216;Jackpot July&#8217; For Frog-Themed Crypto &#8211; Benzinga</a>
Why It Matters: In mid-May, Trump had already <a href="https://www.benzinga.com/25/05/45466150/trump-decides-to-bypass-individual-trade-dealsnew-tariff-rates-to-be-set-unilaterally-and-notified-through-letters">expressed his intention</a> to bypass individual trade deals and set new tariff rates unilaterally. He stated that it was impractical to meet with all interested countries and that the new tariffs would be communicated through letters.
Trump noted that while there were &#8220;150 countries&#8221; interested in striking deals, it was not practical to meet with all of them. His administration had already reduced many of the tariffs announced on April 2 to 10% for a 90-day period.
So far, a trade deal with the U.K. has been signed and finalized. By late June, the U.S. had finalized the framework of a trade agreement with China on rare earth and <a href="https://www.benzinga.com/news/politics/25/06/46133537/howard-lutnick-confirms-us-china-trade-agreement-reaffirms-white-houses-progress-to-close-deals-with-10-other-trading-partners">was said to be making</a> progress towards closing deals with ten other major trading partners. However, Trump&#8217;s latest move suggests a shift away from these negotiations.
Meanwhile, European Commission President Ursula von der Leyen had announced that the EU was open to a trade deal with the U.S., but was also considering other possibilities. Trump&#8217;s decision to assign tariffs through letters could potentially impact these discussions.
<ul class="wp-block-list">
<li>READ MORE: <a href="https://www.benzinga.com/markets/tech/25/06/46161429/canada-rescinds-digital-services-tax-after-trump-calls-it-a-blatant-attack-on-america">Canada Rescinds Digital Services Tax After Trump Calls It A &#8216;Blatant Attack&#8217; On America</a> </li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Trump Says He'll Skip Trade Deals, Set Global Tariffs With A Letter: 'Pay A 25% Tariff, Or 20%, Or 40 Or 50%'

RKLB

Reported Saturday, Rocket Lab Sets New Record With Fastest Launch Turnaround At Launch Complex 1, Successfully Completes 68th Electron Mission

JNPR

Reported Saturday, HPE And Juniper Networks Reach DOJ Settlement, Paving Way For $14B Acquisition To Close

Reported Saturday, HII's Ingalls Shipbuilding Division Christens Future USS Jeremiah Denton, Merging Naval Tradition With Advanced Maritime Defense

Reported Sunday, Torrent Pharma To Acquire Controlling Stake In JB Chemicals From KKR At INR 25,689 Cr Valuation

Hyperbolic Co-founder and Chief Technology Officer Yuchen Jin on Sunday said that OpenAI plans to release an open-source artificial intelligence model next month that reportedly outperforms existing ChatGPT options, potentially intensifying competition with Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>).
What Happened: &#8220;Sorry to hype — but having a few friends at OpenAI makes it hard not to hear how wild their open-source model dropping next month is,&#8221; Jin wrote on social media platform X . &#8220;It won&#8217;t run on a phone, but let&#8217;s just say it edges out one of the models in the ChatGPT dropdown. Meta&#8217;s gonna need some time to catch up.&#8221;
Jin clarified in subsequent posts that the upcoming release represents &#8220;a reasoning model&#8221; rather than a lightweight mobile version, addressing speculation about device optimization. 
Box Inc. CEO Aaron Levie supported this approach, stating that the intelligence level should remain the primary focus over device compatibility.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Sorry to hype — but having a few friends at OpenAI makes it hard not to hear how wild their open-source model dropping next month is. It won't run on a phone, but let's just say it edges out one of the models in the ChatGPT dropdown. Meta's gonna need some time to catch up.
&mdash; Yuchen Jin (@Yuchenj_UW) <a href="https://twitter.com/Yuchenj_UW/status/1939462191302033757?ref_src=twsrc%5Etfw">June 29, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The revelation comes amid escalating talent acquisition battles between major AI companies. Meta CTO Andrew Bosworth recently countered OpenAI CEO Sam Altman&#8216;s claims about $100 million signing bonuses, stating during a company meeting that &#8220;Sam is just being dishonest here&#8221; and accused Altman of creating a <a href="https://www.benzinga.com/markets/tech/25/06/46157544/meta-exec-dismisses-openais-sam-altmans-claims-of-100-million-signing-bonuses-sam-is-just-being-dishonest-here">selective market for senior leadership roles</a>.
OpenAI did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
See Also:&nbsp;<a href="https://www.benzinga.com/news/politics/25/06/46159125/elon-musk-calls-trumps-megabill-political-suicide-says-it-is-utterly-insane-and-destructive-will-destroy-millions-of-jobs-in-america" target="_blank" rel="noreferrer noopener">Elon Musk Calls Trump's Megabill ‘Political Suicide,' Says ‘It Is Utterly Insane and Destructive,' Will ‘Destroy Millions of Jobs in America'</a>
Why It Matters:&nbsp;Several OpenAI researchers, including Lucas Beyer, Alexander Kolesnikov, and Xiaohua Zhai, <a href="https://www.benzinga.com/markets/tech/25/06/46132953/fake-news-former-engineer-joining-meta-refutes-sam-altmans-100m-golden-pass-accusation-to-poach-openai-talent">recently joined Meta</a>&#8216;s &#8220;superintelligence team&#8221; after establishing OpenAI&#8217;s Zurich office. However, Beyer publicly denied receiving the rumored $100 million signing bonus, calling such reports &#8220;fake news.&#8221;
The competitive dynamics reflect broader industry tensions as companies vie for AI supremacy. OpenAI&#8217;s annualized revenue run rate doubled to $10 billion in 2025, while ChatGPT reached 500 million weekly active users. Meanwhile, OpenAI and Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) <a href="https://www.benzinga.com/markets/tech/25/06/46109371/openai-and-microsoft-reportedly-at-odds-over-access-to-artificial-general-intelligence-talks-are-ongoing-and-we-are-optimistic">reportedly dispute contractual terms</a> regarding artificial general intelligence access.
Meta stock has gained momentum with analysts predicting potential increases toward $800, supported by the company&#8217;s aggressive AI recruitment strategy and Mark Zuckerberg&#8216;s personal <a href="https://www.benzinga.com/markets/tech/25/06/46132953/fake-news-former-engineer-joining-meta-refutes-sam-altmans-100m-golden-pass-accusation-to-poach-openai-talent">leadership of the superintelligence initiative</a>.
Read Next:
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<li><a href="https://www.benzinga.com/markets/tech/25/06/46161059/apple-has-the-potential-to-crush-metas-ray-ban-smart-glasses-says-ming-chi-kuo-but-the-tech-giant-has-been-surprisingly-slow" target="_blank" rel="noreferrer noopener">Apple Has the Potential To Crush Meta's Ray-Ban Smart Glasses, Says Ming-Chi Kuo, But The Tech Giant Has Been ‘Surprisingly Slow'</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: Svet foto / Shutterstock.com

Tech

Meta Is 'Gonna Need Time To Catch Up,' Says Hyperbolic CTO Yuchen Jin As OpenAI's Upcoming Open-Source Release Outperforms Existing ChatGPT Model

Reported Sunday, WeRide Hosts Singapore Transport Leaders To Advance Autonomous Public Transport Vision

Riliprubart granted orphan drug designation in Japan for chronic inflammatory demyelinating polyneuropathy
<ul>
<li>Two phase 3 studies are currently underway testing riliprubart in people with CIDP as a potential first-in-class treatment</li>
<li>Japanese Ministry of Health, Labour and Welfare decision adds to similar designations in the US and Europe, underscoring global regulatory recognition of the potential for riliprupart to address significant unmet medical needs for people living with this rare neurological condition</li>
</ul>

Sanofi's Riliprubart Granted Orphan Drug Designation In Japan For Chronic Inflammatory Demyelinating Polyneuropathy, Reinforcing Global Regulatory Momentum

<ul>
<li>Phase 1b study supports proof-of-concept in DOK7 congenital myasthenic syndromes</li>
<li>Decision informed by favorable safety profile and consistent functional improvement over time across multiple efficacy measures</li>
<li>Advancing ARGX-119 further validates strong track record of Immunology Innovation Program (IIP), argenx's collaborative discovery model</li>
</ul>

ARGX

argenx Moves Forward With First-In-Class MuSK Agonist ARGX-119 For CMS After Proof-of-Concept Achieved In Phase 1b Study

SpaceX and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk&#8216;s vision for Mars as a political project was reportedly thwarted in 2024 due to concerns about AI and political interference, according to a conversation revealed by Peter Thiel.
What Happened:&nbsp;Peter Thiel, the co-founder of PayPal (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), disclosed a conversation he had with Elon Musk in 2024 in an <a href="https://www.nytimes.com/2025/06/26/opinion/peter-thiel-antichrist-ross-douthat.html">interview </a>with The New York Times on Thursday.
Elon Musk reportedly told Thiel &#8220;There's nowhere to go&#8221; after the PayPal co-founder said he wanted to leave the U.S. if Donald Trump doesn&#8217;t become the President. 
&#8220;It was about two hours&nbsp;after we had dinner and&nbsp;I was home that I&nbsp;thought of: &#8220;Wow, Elon, you&nbsp;don&#8217;t&nbsp;believe in going to Mars&nbsp;anymore,&#8221; Thiel said. 
Thiel claimed that Demis Hassabis&nbsp;CEO of Google&#8216;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>) DeepMind,&nbsp; warned Musk that his AI could follow humans to Mars. This revelation reportedly led to Musk&#8217;s silence and a shift in his perspective on the Mars project.
According to Thiel, it took Musk until 2024 to fully process the implications of this conversation. He began to view Mars not just as a scientific endeavor, but as a political project that could be influenced by external factors like AI and government policies.
&#8220;2024 is the year where&nbsp;Elon stopped believing in Mars&nbsp;— not as a silly&nbsp;science tech project, but as&nbsp;a political project,&#8221; stated Thiel.
&#8220;And in 2024 Elon came to believe that if you went to Mars, the socialist U.S. government, the woke A.I. would follow you to Mars.&#8221;
SpaceX did not immediately respond to <a href="http://pro.benzinga.com">Benzinga&#8217;s</a> request for comment. 
SEE ALSO:&nbsp;<a href="https://benzinga.com/news/politics/25/06/46160509/irans-top-diplomat-to-un-says-uranium-enrichment-to-continue-an-inalienable-right" target="_blank" rel="noreferrer noopener">Iran&#8217;s Top Diplomat To UN Says Uranium Enrichment To Continue: An &#8216;Inalienable Right&#8217;</a>
Why It Matters: Despite Theil&#8217;s claims, reports in May indicated that Musk&#8217;s SpaceX was <a href="https://www.benzinga.com/government/regulations/25/05/45606144/after-fiery-setbacks-elon-musks-spacex-doubles-down-on-starship-for-bold-2026-mars-push-report">intensifying efforts</a>&nbsp;to prepare its experimental Starship rocket for a potential Mars mission in 2026.
Moreover, Musk has long been an advocate for Mars colonization, citing it as humanity&#8217;s &#8220;life insurance&#8221; policy. In a separate interview in May 2025, Musk warned that Earth&nbsp;<a href="https://www.benzinga.com/startups/25/05/45480331/elon-musk-says-earth-only-has-10-of-its-life-left-before-its-incinerated-by-the-sun-calls-colonizing-mars-humanitys-life-insurance-polic">only has 10% of its life left</a>&nbsp;before it&#8217;s &#8220;incinerated&#8221; by the sun, making Mars colonization essential for humanity&#8217;s survival.
Despite his concerns about AI, Musk has also invested in several AI startups, including DeepMind, following a warning from Hassabis about the <a href="https://www.benzinga.com/news/topics/25/05/45710311/elon-musk-called-ai-an-existential-risk-for-human-civilization-yet-he-invested-early-in-deepmind-after-this-warning-from-co-founder-demis-hassabis">dangers </a>of advanced AI to human civilization. This apparent contradiction in Musk&#8217;s actions and beliefs raises questions about the future of his Mars ambitions.
<ul class="wp-block-list">
<li>READ MORE:<a href="https://www.benzinga.com/news/space/25/06/46090664/india-may-have-been-to-mars-and-moon-but-an-indian-hasnt-been-in-space-for-41-years-elon-musk-just-changed-that"> India May Have Been To Mars And Moon, But An Indian Hasn&#8217;t Been In Space For 41 Years: Elon Musk Just Changed That</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

SPACE

PYPL

TSLA

Elon Musk Stopped Believing In Mars Dream As A 'Political Project' In 2024, Says Peter Theil Amid 'Woke AI' And 'Socialist Government' Fears

Economist Craig Shapiro has been calling for a national housing policy overhaul, as he believes the housing market is &#8220;rigged,&#8221; amid New York City mayoral candidate Zohran Mamdani&#8216;s ambitious housing reform agenda.
What Happened: In a detailed Substack <a href="https://substack.com/home/post/p-167096016">essay</a> and an X thread, the macro strategist at the Bears Trap Report, Shapiro, highlights how the housing market has become an &#8220;over-subsidized, under-scrutinized asset class in America.&#8221;
According to him, &#8220;Housing is no longer just shelter,&#8221; it's an asset class, and &#8220;It's time for a reset — one that unwinds the monetary premium embedded in home prices and redirects policy toward making shelter accessible again.&#8221;
This comes amid the rising popularity of the Democratic primary winner for <a href="https://www.benzinga.com/news/politics/25/06/46087359/zohran-mamdani-leads-nyc-mayoral-primary-andrew-cuomo-concedes-race">mayor of New York City</a>, Mamdani. Apart from affordable childcare, taxing the rich, free buses, and raising minimum wages, his ambitious agenda also includes a $70 billion dream of building 200,000 units of affordable housing and freezing rent on the city's nearly one million rent-stabilized apartments.
Meanwhile, Shapiro explains that housing policy in the U.S. is not just economic — it's political. The current regime benefits several powerful groups:
<ul class="wp-block-list">
<li>Homeowners who rely on home appreciation for retirement security.</li>
<li>Real estate agents and lenders earn more from higher prices.</li>
<li>Institutional landlords benefit from the limited supply and rising rents.</li>
<li>Local governments fear voter backlash if property values fall.</li>
</ul>
&#8220;And so, despite growing unaffordability, tax advantages for homeowners persist. Zoning laws continue to restrict supply. Investors still enjoy favorable treatment through 1031 exchanges and depreciation loopholes. All while 36% of Americans — renters — receive almost none of these benefits,&#8221; he adds.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I put together a long form post this morning on housing this morning on my substack (link in bio) Here are the highlights &#x1f3e1; The housing market isn't just broken — it's rigged. It's time we talk about the most over-subsidized, under-scrutinized asset class in America. Here's…
&mdash; Craig Shapiro (@ces921) <a href="https://twitter.com/ces921/status/1939437993242046832?ref_src=twsrc%5Etfw">June 29, 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/real-estate/25/06/46088531/too-many-home-sellers-fewer-buyers-experts-predict-housing-prices-to-fall-in-2025-without-a-fed-put-in-place">Too Many Home Sellers, Fewer Buyers: Experts Predict Housing Prices To Fall In 2025 Without A Fed Put In Place</a>
Why It Matters: As a solution to the crisis, Shapiro advocates for a &#8220;Great Housing Reset&#8221; to shift the focus from housing as a speculative asset to affordable shelter.
It includes gradually phasing out mortgage interest deductions and capping capital gains exclusions for high-income earners on primary residences, eliminating 1031 exchanges for residential investment properties, and linking federal infrastructure funding to local zoning reforms that encourage multifamily housing.
Furthermore, he suggests redirecting federal support from homeowners to renters through universal housing vouchers and renter equity programs, believing these changes would lead to a &#8220;soft landing&#8221; for housing prices and a more equitable, accessible housing market.
Price Action: Here is a list of some<a href="https://www.benzinga.com/real-estate/25/06/46088531/too-many-home-sellers-fewer-buyers-experts-predict-housing-prices-to-fall-in-2025-without-a-fed-put-in-place"> real estate and housing exchange-traded funds</a> that investors could consider as a play on the evolving housing demand. 
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>ETFs</td>
<td>YTD Performance</td>
<td>One Year Performance</td>
</tr>
<tr>
<td>SPDR S&amp;P Homebuilders ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XHB#NYSE">XHB</a>)</td>
<td>-4.85%</td>
<td>-0.06%</td>
</tr>
<tr>
<td>Vanguard Real Estate Index Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNQ#NYSE">VNQ</a>)</td>
<td>0.23%</td>
<td>6.65%</td>
</tr>
<tr>
<td>Schwab US REIT ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHH#NYSE">SCHH</a>)</td>
<td>0.62%</td>
<td>6.12%</td>
</tr>
<tr>
<td>Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>)</td>
<td>2.06%</td>
<td>8.10%</td>
</tr>
<tr>
<td>iShares US Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYR#NYSE">IYR</a>)</td>
<td>1.99%</td>
<td>8.28%</td>
</tr>
<tr>
<td>iShares Core US REIT ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USRT#NYSE">USRT</a>)</td>
<td>-0.95%</td>
<td>5.99%</td>
</tr>
<tr>
<td>DFA Dimensional Global Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFGR#NYSE">DFGR</a>)</td>
<td>5.12%</td>
<td>7.58%</td>
</tr>
<tr>
<td>SPDR Dow Jones REIT ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RWR#NYSE">RWR</a>)</td>
<td>-2.14%</td>
<td>3.79%</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, ended higher on Friday. The SPY was up 0.50% at $614.91, while the QQQ advanced 0.34% to $548.09, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
After hitting a fresh record on Friday, the futures of the S&amp;P 500, Nasdaq 100, and Dow Jones indices were trading higher on Monday.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/06/46108861/microsoft-is-playing-chess-and-others-are-playing-checkers-dan-ives-says-msft-could-be-a-5-trillion-company-in-18-months">Microsoft Is &#8216;Playing Chess, And Others Are Playing Checkers:&#8217; Dan Ives Says MSFT Could Be A $5 Trillion Company In 18 Months</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

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DFGR

iShares Trust Dow Jones US Real Estate Fund Index

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US Housing Market Is 'Not Just Broken, It's Rigged,' Says Craig Shapiro As Mamdani Vows To Build 200,000 Publicly Subsidized Homes, Freeze Rent In NYC

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President Donald Trump has issued a warning that New York City&#8217;s federal funding could be in jeopardy if Democratic candidate Zohran Mamdani doesn&#8217;t do the &#8220;right thing&#8221; if he wins the mayoral election.
What Happened: Trump expressed that Mamdani must &#8220;do the right thing&#8221; if elected, or the city could face a reduction in its federal funding. The President made these comments during a Fox News <a href="https://www.foxnews.com/video/6375019938112">interview </a>with Maria Bartiromo that aired on Sunday.
"Let's say this, if he does get in, I'm going to be president and he's going to have to do the right thing, or they're not getting any money&#8230;He's got to do the right thing," stated Trump.
Trump warned that any future mayor of New York must &#8220;behave themselves,&#8221; or else the federal government will impose severe financial consequences.
He has previously threatened to cut federal funding for local politicians in blue states with whom he disagrees. For instance, he threatened to withdraw funding from California due to Governor&nbsp;Gavin Newsom&#8216;s policies on transgender athletes in women&#8217;s sports.
Trump&#8217;s warning is not only directed at Mamdani, who recently defeated former New York Governor Andrew Cuomo in the city&#8217;s Democratic mayoral primary, but also extends to all mayoral candidates in New York City.
Trump has repeatedly labeled Mamdani, a Democratic socialist, as a communist. Mamdani, however, has rejected this label.
SEE ALSO: <a href="https://benzinga.com/news/sports/25/06/46159984/mark-cuban-raises-employee-wages-after-learning-of-government-aid-dependence" target="_blank" rel="noreferrer noopener">Mark Cuban Raises Employee Wages After Learning Of Government Aid Dependence</a>
Why It Matters: Mamdani&#8217;s victory in the Democratic primary for New York City mayor has sparked strong political reactions. Trump has <a href="https://www.benzinga.com/news/politics/25/06/46107353/trump-says-democrats-have-crossed-the-line-with-zohran-mamdani-bernie-sanders-elizabeth-warren-back-new-york-mayoral-candidates-grassroots-suppo">condemned </a>the win as a sign that the Democratic Party has veered too far left.
Despite the criticism, prominent senators such as Bernie Sanders (I-VT) and Elizabeth Warren (D-Mass) have thrown their <a href="https://www.benzinga.com/news/politics/25/06/46107353/trump-says-democrats-have-crossed-the-line-with-zohran-mamdani-bernie-sanders-elizabeth-warren-back-new-york-mayoral-candidates-grassroots-suppo">support </a>behind Mamdani, citing his &#8220;grassroots&#8221; approach.
Meanwhile, Cameron Winklevoss, co-founder of cryptocurrency exchange Gemini, has expressed reluctance to support a candidate against Mamdani in the New York City mayoral race, suggesting that the city must &#8220;learn the hard way&#8221; the <a href="https://www.benzinga.com/news/politics/25/06/46108180/no-point-fighting-against-the-tide-by-opposing-zohran-mamdani-says-gemini-co-founder-cameron-winklevoss-things-will-have-to-get-worse-in-nyc-before-they-get-better">consequences </a>of Marxist and socialist ideologies.
<ul class="wp-block-list">
<li>READ MORE: <a href="https://benzinga.com/personal-finance/financial-advisors/25/06/46159972/us-faces-financial-heart-attack-ray-dalio-warns-shares-investment-strategies-the-safest-investment-that-you-can-get-right-now-is-an-inflation-indexed-bond" target="_blank" rel="noreferrer noopener">US Faces ‘Financial Heart Attack,' Ray Dalio Warns — Shares Investment Strategies: &#8216;The Safest Investment That You Can Get Right Now Is An Inflation-Indexed Bond&#8217; &#8211; Benzinga</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Trump Threatens To Cut Federal Funding For NYC If Zohran Mamdani Doesn't Do The 'Right Thing' As Future Mayor: 'If He Does Get In, I'm Going To Be President...'

Tesla researcher Troy Teslike has highlighted Tesla Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) struggle to adapt to lower sales in Canada, predicting GAAP losses for the company starting in Q1 2026.
What Happened: In a post on X on Sunday, Teslike pointed out that Tesla is grappling with a significant drop in sales in Canada, largely due to political controversy.
He cited that sales have nearly hit rock bottom, while the company continues to operate 35 stores across the country, thereby keeping SG&amp;A (Selling, General, and Administrative) costs high.
<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">Tesla is struggling to adapt to the new reality of lower sales. For example, sales in Canada have dropped to nearly zero, largely due to political controversy (source: <a href="https://t.co/AxsXyLJrFI">https://t.co/AxsXyLJrFI</a>), but Tesla continues to operate 35 stores across the country (source:…
&mdash; Troy Teslike (@TroyTeslike) <a href="https://twitter.com/TroyTeslike/status/1939392513460097102?ref_src=twsrc%5Etfw">June 29, 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/markets/large-cap/25/06/46161226/gary-black-warns-tesla-q2-deliveries-will-disappoint-says-cheaper-models-could-cannibalize-sales-and-see-ideal-re-entry-22-below-current-levels"> Gary Black Warns Tesla Q2 Deliveries Will &#8216;Disappoint&#8217; — Says Cheaper Models Could Cannibalize Sales</a>
Tesla&#8217;s sales had<a href="https://www.benzinga.com/news/topics/25/05/45692018/general-motors-tops-canadian-ev-market-in-q1-as-tesla-sales-tank-87-in-quebec-report"> plummeted by 87% in Quebec</a>, Canada, in Q1 2025. This was a two-year low for the company, amid incentive cuts and criticism around Elon Musk's political ties with the Donald Trump administration.
Why It Matters: Tesla&#8217;s sales decline in Canada comes at a time when its competitor, General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), is<a href="https://www.benzinga.com/news/topics/25/05/45692018/general-motors-tops-canadian-ev-market-in-q1-as-tesla-sales-tank-87-in-quebec-report"> experiencing a 252% surge in sales</a> in the country. Tesla&#8217;s sales woes have been attributed to an 87% decline in deliveries in Quebec, as per data obtained by Le Devoir.
Furthermore, Tesla has been<a href="https://www.benzinga.com/25/03/44213295/tesla-suspected-of-ev-rebate-manipulation-in-canada-amid-sudden-sales-surge-tesla-gamed-the-system-says-industry-body"> suspected of exploiting Canada&#8217;s EV rebate</a> program, with four of its stores allegedly selling an average of 30 cars per hour over three days, thereby claiming over 50% of the rebate funds.
Investor Gary Black, founder of The Future Fund, has also issued a<a href="https://www.benzinga.com/markets/large-cap/25/06/46161226/gary-black-warns-tesla-q2-deliveries-will-disappoint-says-cheaper-models-could-cannibalize-sales-and-see-ideal-re-entry-22-below-current-levels"> cautious outlook on Tesla&#8217;s upcoming second-quarter deliveries</a>, predicting that the company is likely to miss estimates.
Check out more of Benzinga's Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">&nbsp;following this link.</a>
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/06/46087914/teslas-europe-sales-slide-for-5th-straight-month-elon-musk-led-ev-giants-market-share-shrinks-to-1-3">Tesla&#8217;s Europe Sales Slide For 5th Straight Month: Elon Musk-led EV Giant&#8217;s Market Share Shrinks To 1.3%</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Ken Wolter / Shutterstock.com

Tesla Sales In Canada Have Dropped To 'Nearly Zero,' Says Researcher, Expects Elon Musk-Led EV Giant May Report Losses Starting 2026

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