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The Fund seeks to track the investment results of the Russell 2000 Index; the Underlying Index, which measures the performance of the small-capitalization sector of the U.S. equity market, as defined by FTSE Russell; the Index Provider or Russell.

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El IPP de EE.UU. cayó un 0,4 % en marzo, por debajo de lo esperado. La inflación al productor desacelera y los mercados reaccionan al alza.

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Los grandes fondos multimillonarios aumentaron sus participaciones en GameStop Corp. (NYSE:GME) durante el cuarto trimestre de 2024, después de que en el tercer trimestre la empresa reportara 4.616 millones de dólares en efectivo y equivalentes.

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Wall Street opened the week slightly higher, led by gains in energy stocks, while the U.S. dollar posted its strongest performance in over two months, as markets reacted to the U.S.-EU trade deal <a href="https://www.benzinga.com/etfs/sector-etfs/25/07/46663043/trump-eu-us-energy-trade-deal-750-billion-oil-stocks-xle">struck over the weekend.</a>
<ul class="wp-block-list">
<li>MSFT Stock is moving fast. <a href="https://www.benzinga.com/quote/MSFT">See real-time price here.</a></li>
</ul>
The S&amp;P 500 ticked up 0.1% to a new record of 6,400 points, while the Nasdaq 100 climbed 0.5%, breaking above all-time highs at 23,380 points. Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) continued its rally, hitting a new record of $175 per share and reaching a staggering $4.27 trillion market capitalization.
Under the new trade agreement, the U.S. will impose a 15% tariff on EU imports, including pharmaceuticals and automobiles. Certain sectors such as steel, aluminum, and copper will face steeper tariffs of up to 50%.
In return, the European Union has pledged to purchase $750 billion worth of U.S. energy exports over the next three years—up from roughly $100 billion annually—and to invest an additional $600 billion in the United States.
The euro dropped 1.2% against the dollar, marking its worst day since May 12, while Eurozone equities also slumped.
Oil prices jumped 2.2% to $66.5 per barrel, fueled by Europe's energy commitment and renewed geopolitical tensions after President Donald Trump moved up a deadline for Russia to agree to a truce in Ukraine. Trump warned that Russia has 10–12 days to comply or face 100% "secondary tariffs," raising fears of potential crude supply disruptions.
The energy sector led the market, while utilities lagged with a 1% decline.
Gold slid 0.8% to $3,313 per ounce as the dollar strengthened. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) dropped 1.2% to $118,000.
<h2 class="wp-block-heading">Monday&#8217;s Performance In Major US Indices, ETFs</h2>
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>23,385.33</td>
<td>0.5%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>6,397.48</td>
<td>0.1%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,263.20</td>
<td>0.1 %</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>44,937.43</td>
<td>0.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated by 12:30 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul class="wp-block-list">
<li>The&nbsp;Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) flattened at $585.91.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) was steady at $449.20.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;rose 0.4% to $568.24.</li>
<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) inched 0.1% higher to $224.59.</li>
<li>The&nbsp;Energy Care&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) outperformed, up 1.1%; the&nbsp;Utilities&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) lagged, down 0.8%.</li>
</ul>
<h3 class="wp-block-heading">Monday&#8217;s Stock Movers</h3>
<ul class="wp-block-list">
<li>Stocks moving on earnings reports included Bank of Hawaii Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOH#NYSE">BOH</a>), down 6%, Revvity Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RVTY#NYSE">RVTY</a>) down 8.6% and Enterprise Products Partners L.P. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EPD#NYSE">EPD</a>), down 1.3%. </li>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) jumped 4% after the U.S. announced lower-than-expected tariffs on European goods, including autos, and following CEO Elon Musk's revelation of a $16.5 billion deal with Samsung Electronics to produce next-generation chips.</li>
<li>Top-performing energy stocks within the Energy Select Sector SPDR Fund included Devon Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>), which rose 3.5%; Diamondback Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>), up 3.4%; APA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APA#NASDAQ">APA</a>), gaining 3.0%; EOG Resources Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>), up 2.5% and ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>), up 2.2%.</li>
<li>Nike Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) rose 3.9% to $79.25 after J.P. Morgan upgraded the stock from Neutral to Overweight and raised its price target to $93 from $64.</li>
</ul>
Now Read:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/etfs/sector-etfs/25/07/46663043/trump-eu-us-energy-trade-deal-750-billion-oil-stocks-xle">Trump&#8217;s $750 Billion Coup In Europe Could Bring Energy Stocks Back From The Dead</a></li>
</ul>
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FANG

NVDA

RVTY

TSLA

Oil, Energy Stocks Rise, Dollar Rallies On US-EU Trade Deal: What's Moving Markets Monday?

WIIM

Major indexes are higher amid recent earnings reports and trade deal optimism.

Wall Street looked set to close the week on a high note, with large-cap benchmarks pushing higher in Friday's midday trading as optimism over corporate earnings and progress on global trade talks provided support for risk assets. The S&amp;P 500 climbed 0.4% to 6,390, marking a fresh all-time high and the Nasdaq 100 also rose 0.5% to break above 23,330, led by strength in <a href="https://www.benzinga.com/topic/technology-stocks">tech and consumer names. </a>
<ul class="wp-block-list">
<li>QQQ ETF has risen 40% off April&#8217;s lows. <a href="https://www.benzinga.com/quote/QQQ">Track it now here.</a> </li>
</ul>
With today's gains on Wall Street, the combined market capitalization of the Magnificent Seven has hit a new record of $19 trillion, with NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) alone climbing to $4.25 trillion.
The Roundhill Magnificent Seven ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NYSE">MAGS</a>) is up 1.4% this week and is on pace to log its seventh weekly gain in the last eight.
Markets were buoyed by news from Brussels, where European officials confirmed a Sunday meeting with President Donald Trump. Investors are anticipating the U.S. will move forward with a 15% tariff on EU goods, mirroring the Japan deal structure finalized earlier this week.
President Donald Trump indicated confidence that the Federal Reserve will begin cutting rates, just a day after his high-profile visit to Fed Chair Jerome Powell in Washington, D.C.
Yields on 10-year Treasury bonds held steady at 4.40%, unchanged for the week, while the U.S. dollar index rose 0.3%, paring weekly losses but still set to close lower.
Commodities were broadly weaker. Gold dropped 1.2% to $3,329 per ounce, silver slid 2.4% to $38 per ounce and WTI crude oil declined 1% to $65.40 per barrel.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) extended its decline for a third straight session, slipping 2.2% toward $115,800 and heading for its second consecutive weekly loss—a streak not seen since March 2025.
<h2 class="wp-block-heading">Friday&#8217;s Performance In Major U.S. Indices, ETFs</h2>
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day % chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>23,322.82</td>
<td>0.4%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>6,389.82</td>
<td>0.4%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>44,807.79</td>
<td>0.3%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,251.34</td>
<td>-0.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated by 12:35 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul class="wp-block-list">
<li>The&nbsp;Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) rose 0.4% to $585.34.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) inched 0.2% up to $447.87.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;rose 0.4% to $567.18.</li>
<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) held steady at $223.55.</li>
<li>The&nbsp;Consumer Discretionary&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) outperformed, up 1.1%; the&nbsp;Communication Services&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) lagged, down 1%.</li>
</ul>
<h2 class="wp-block-heading">Friday&#8217;s Stock Movers</h2>
<ul class="wp-block-list">
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rebounded 5.6% after sliding 8.2% on Thursday amid weaker-than-expected quarterly results. </li>
</ul>
Stocks reacting to earnings reports included:
<ul class="wp-block-list">
<li>Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) down 8.94%</li>
<li>Aon plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AON#NYSE">AON</a>) up 4.58%</li>
<li>HA Healthcare, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAHC#NASDAQ">HAHC</a>) down 2.97%</li>
<li>Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) up 5.80%</li>
<li>Digital Realty Trust, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DLR#NYSE">DLR</a>) down 0.75%</li>
<li>Phillips 66 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>) up 0.80%</li>
<li>Charter Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>) down 17.48%</li>
<li>Edwards Lifesciences Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EW#NYSE">EW</a>) up 3.63%</li>
<li>VeriSign, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRSN#NASDAQ">VRSN</a>) up 6.29%</li>
<li>First Citizens BancShares, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>) down 0.99%</li>
<li>Shinhan Financial Group Co., Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHG#NYSE">SHG</a>) up 1.26%</li>
<li>Deckers Outdoor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>) up 11.91%</li>
<li><a href="https://www.benzinga.com/markets/earnings/25/07/46628310/booz-allen-sticks-to-bold-2026-outlook-as-backlog-hits-38-billion">Booz Allen </a>Hamilton Holding Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAH#NYSE">BAH</a>) down 2.27%</li>
<li>Centene Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNC#NYSE">CNC</a>) up 4.90%</li>
<li>Saia, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAIA#NASDAQ">SAIA</a>) up 5.49%</li>
<li>AutoNation, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>) down 0.13%</li>
<li>OneMain Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OMF#NYSE">OMF</a>) up 0.87%</li>
<li>Boyd Gaming Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYD#NYSE">BYD</a>) up 2.24%</li>
<li>Gentex Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GNTX#NASDAQ">GNTX</a>) up 14.19%</li>
</ul>
Read Now:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46633129/trumps-fed-visit-powell-interest-rates">Trump&#8217;s Rare Fed Visit Sparks Talks Of A $7 Trillion Problem</a> Photo: khunkornStudio via Shutterstock<a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46633129/trumps-fed-visit-powell-interest-rates"> </a></li>
</ul>

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Select Sector SPDR-Consumer Discretionary

US Stocks Hit New Highs As Magnificent Seven Reach $19 Trillion: What's Moving Markets Friday?

Having spent most of 2025 in the shadow of their big-cap counterparts, U.S. small-cap stocks might finally be ready to re-enter the limelight. A <a href="https://www.benzinga.com/markets/small-cap/25/07/46586647/small-cap-stocks-2025-outlook-tax-rally">combination of friendly policy shifts</a>, overlooked fundamentals, and bullish technical signals is encouraging investors to take a closer look at this long-overlooked asset class, and <a href="https://www.benzinga.com/etfs">ETFs are the vehicle of choice</a> for riding the revival. 
From the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) to deep-value and innovation-themed plays such as the Acquirers Deep Value ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEEP#NYSE">DEEP</a>) and Invesco Nasdaq Future Gen 200 ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQS#NASDAQ">QQQS</a>), small-cap ETFs experienced a modest uptick in recent weeks. But is this merely a blip, or the start of something greater?
IWM ETF's momentum continues.&nbsp;<a href="https://www.benzinga.com/quote/IWM" target="_blank" rel="noreferrer noopener">Track it now here.</a>
<h2 class="wp-block-heading">Tax Perks And Tech Charts Revive Small Caps</h2>
Small caps are gaining increasing investor interest as a combination of strong valuations, favorable tax policy, and improved technicals is starting to alter the narrative. According to on LPL Financial&#8217;s Jeff Buchbinder, the Russell 2000&#8217;s depressed price-to-book ratio of 2.03 compared to the Russell 1000&#8217;s 5.35 points to a stark valuation divide, and the just-signed into law &#8220;One Big Beautiful Bill Act&#8221; provides tempting tax breaks for smaller companies—such as upfront R&amp;D deductions and 100% bonus depreciation—that would dramatically enhance profitability.
Technically, the Russell 2000 has risen by nearly 30% since its April troughs, indicating a bullish reversal, although it remains in a long-term relative downtrend. Earnings are also catching up, with small caps leading large caps in year-over-year profit growth, although they still lag on beat ratios. Add to that favorable credit conditions and a recovering U.S. dollar, which benefits domestic small caps, and the environment may be ripe for these underdogs to punch above their weight.
<h2 class="wp-block-heading">ETFs In Focus: How to Ride the Small-Cap Wave</h2>
<figure class="wp-block-table"> 
<table class="has-fixed-layout">
<thead>
<tr>
<th>ETF</th>
<th>Focus</th>
<th>1-Month Performance</th>
</tr>
</thead>
<tbody>
<tr>
<td>iShares Russell 2000 ETF</td>
<td>Broad U.S. small caps</td>
<td>+5.3% </td>
</tr>
<tr>
<td>Pacer US Small Cap Cash Cows ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CALF#BATS">CALF</a>)</td>
<td>High FCF-generating small caps</td>
<td>+5.2%</td>
</tr>
<tr>
<td>Acquirers Small &amp; Micro Deep Value ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEEP#NYSE">DEEP</a>)</td>
<td>Deep-value U.S. small caps</td>
<td>+5.4%</td>
</tr>
<tr>
<td>Invesco Nasdaq Future Gen 200 ETF</td>
<td>Innovative small-cap growth names</td>
<td>+8.4%</td>
</tr>
<tr>
<td>Sprott Junior Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGDJ#NYSE">SGDJ</a>)</td>
<td>Small-cap gold miners</td>
<td>+4%</td>
</tr>
</tbody>
</table>
</figure>
<ul class="wp-block-list">
<li>IWM is still the standard, with investors having wide exposure to the Russell 2000.</li>
<li>CALF concentrates on high free cash flow, a key shock absorber in a high-interest-rate environment.</li>
<li>DEEP is every contrarian&#8217;s dream, full of cheap small/micro-cap names.</li>
<li>QQQS goes all-in on the innovation theme, which is great if you believe that software R&amp;D expensing will ignite a fire under tech stocks.</li>
<li>SGDJ provides a hard-asset shelter, particularly if inflation returns or gold prices rise again.</li>
</ul>
<h2 class="wp-block-heading">Bottom Line: Don&#8217;t Sleep On The Small Stuff</h2>
Small caps are still lagging behind on the year, with the Russell 2000 up only 0.76% YTD compared to the S&amp;P 500&#8217;s 8.8% advancement. But the momentum might be shifting. With tax reform, earnings momentum, and technical trends all in sync, ETFs might be the agile ticket to wager on America&#8217;s grittiest stocks.
In a market increasingly dominated by mega-cap narratives, small caps offer something rare: underappreciated potential, and the ETFs to match.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/07/46617280/sp-500-stocks-at-52-week-highs-these-etfs-just-cashed-in">S&amp;P 500 Stocks At 52-Week Highs? These ETFs Just Cashed In</a></li>
</ul>
Photo: NicoElNino via Shutterstock

CALF

DEEP

QQQS

SGDJ

Small Caps, Big Comeback? ETFs Betting On America's Underdogs As Tax Tweaks And Technicals Align

Valuations are low, tax laws have shifted, and technical trends are turning—Wall Street is starting to reconsider <a href="https://www.benzinga.com/topic/small-caps">the small-cap space.</a>
The Russell 2000 index – as tracked by the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) – has lagged large-cap indices in 2025—but a potential shift might be just around the corner.
In a note published Wednesday, LPL Financial's chief equity strategist Jeff Buchbinder laid out five catalysts that may favor small-cap equities heading into late 2025.
&#8220;Small cap equities remain one of the most paradoxical asset classes — frequently dismissed yet frequently cited as a contrarian buying opportunity on attractive valuations but often dissed by markets,&#8221; Buchbinder said. 
<h3 class="wp-block-heading">1. Trump's Tax Overhaul May Boost Small Cap Profits</h3>
LPL highlights that under the One Big Beautiful Bill Act, small businesses will be "once again permitted to fully deduct domestic research and development (R&amp;D) expenses in the year they're incurred." 
The deduction applies to software development and product innovation, and "should serve to significantly benefit smaller businesses&#8230; and thus increase net profits."
LPL adds that "the increase in allowable deductions of interest costs and permanent 100% bonus depreciation" could favor smaller firms more than large caps.
<h3 class="wp-block-heading">2. The Valuation Gap Between Large and Small Caps Keeps Widening</h3>
According to LPL, the Russell 1000 trades at a price-to-book (P/B) of 5.35, while the Russell 2000 trades at just 2.03. 
"This growing disparity suggests that investors are paying more than twice as much for each dollar of book value in large cap stocks," the report said.
The firm notes that while large-cap premiums reflect investor confidence in earnings stability—especially in AI-focused names—"small cap equities become increasingly attractive on a relative basis."
<h3 class="wp-block-heading">3. The Russell 2000 Has Broken Out Technically</h3>
Since bottoming in April, the Russell 2000 has rallied nearly 30%, pushing the index out of a major inverse head-and-shoulders pattern. 
LPL estimates "a minimum technical-based price objective near 2,480," coinciding with the November 2024 highs. 
However, the firm said the Russell 2000 vs. S&amp;P 500 "remains in a multi-year downtrend," making it difficult to argue for sustainable small-cap outperformance without further confirmation.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="560" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/23144222/image-343-1024x560.png" alt="" class="wp-image-997760" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/23144222/image-343-1024x560.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/23144222/image-343-300x164.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/23144222/image-343-768x420.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/23144222/image-343-1536x840.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/23144222/image-343-2048x1120.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">4. Credit Conditions Are Still Favorable</h3>
Small caps rely heavily on debt to fuel growth. Fortunately, corporate credit spreads remain tight and base rates stable. 
&#8220;Small caps tend to be more sensitive to domestic economic cycles, meaning they could outperform if the U.S. economy remains resilient or accelerates,&#8221; the analyst said.
However, if the Fed is forced to cut rates due to a weakening economy—not falling inflation—those same small caps could be at risk. 
<h3 class="wp-block-heading">5. A Broader Market Rotation Could Help</h3>
According to LPL, "a meaningful rotation in market leadership" is underway, with non-U.S. small caps and sectors like basic materials and technology outperforming. 
They also note that "non-U.S. small cap stocks have emerged as key beneficiaries of recent U.S. tariff policy."
A falling U.S. dollar earlier in 2025 has enhanced the appeal of foreign assets, but a short-term dollar rebound "could also put domestic small caps in a more favorable position."
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/07/46571202/nasdaq-100-technical-analysis-july-2025">This Nasdaq 100 Signal Last Flashed In 1999—What Came Next Was Insane</a><span class="author" style="box-sizing: border-box; border: 0px solid rgb(229, 231, 235); --tw-scale-x: 1; --tw-scale-y: 1; --tw-pan-x: ; --tw-pan-y: ; --tw-pinch-zoom: ; --tw-scroll-snap-strictness: proximity; --tw-gradient-from-position: ; --tw-gradient-via-position: ; --tw-gradient-to-position: ; --tw-ordinal: ; --tw-slashed-zero: ; --tw-numeric-figure: ; --tw-numeric-spacing: ; --tw-numeric-fraction: ; --tw-ring-inset: ; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246/0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; --tw-blur: ; --tw-brightness: ; --tw-contrast: ; --tw-grayscale: ; --tw-hue-rotate: ; --tw-invert: ; --tw-saturate: ; --tw-sepia: ; --tw-drop-shadow: ; --tw-backdrop-blur: ; --tw-backdrop-brightness: ; --tw-backdrop-contrast: ; --tw-backdrop-grayscale: ; --tw-backdrop-hue-rotate: ; --tw-backdrop-invert: ; --tw-backdrop-opacity: ; --tw-backdrop-saturate: ; --tw-backdrop-sepia: ; --tw-contain-size: ; --tw-contain-layout: ; --tw-contain-paint: ; --tw-contain-style: ;"></li>
</ul>
Image created using artificial intelligence via Midjourney.

Small Cap

5 Reasons Small Caps Could Be Wall Street's Next Big Comeback Trade

A wave of U.S. trade deals with key allies over the past 24 hours reignited Wall Street's rally and boosted investor risk <a href="https://www.benzinga.com/markets">appetite across global markets.</a>
President Donald Trump announced agreements with the Philippines, Indonesia and—most significantly—Japan, while the <a href="https://www.ft.com/content/460b7784-88d7-4324-9e4d-dc9692d15e72">Financial Times</a> reported that a U.S.-EU trade deal is imminent, expected to mirror the Tokyo framework.
The U.S.-Japan pact raises the baseline tariff on Japanese goods to 15% from 10%, sidestepping the previously threatened 25% level. Tariffs on Japanese autos have been cut from 25% to 15%. In return, Japan committed to investing $550 billion in the U.S. and easing access to American agricultural and industrial goods.
Markets cheered the progress. The S&amp;P 500 rose 0.5% to a new record high of 6,350, while the Dow Jones Industrial Average surged nearly 1%, or 450 points, nearing its own record. Small-cap stocks led the charge, with the Russell 2000 also jumping 1.0% to its highest level since February.
International equities soared even more. The iShares MSCI Japan Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWJ#NYSE">EWJ</a>) rallied 4.9% to an all-time high, the SPDR DJ Euro STOXX 50 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FEZ#NYSE">FEZ</a>) climbed nearly 2%, and the iShares MSCI Mexico ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWW#NYSE">EWW</a>) gained 2.1%.
As optimism over global trade thawed investor caution, demand for safe-haven assets dropped. Gold slid 1.4% to $3,383 per ounce, while silver dipped 0.3%. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell 2% to $117,760. 
Next up: a major earnings test. Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), ServiceNow Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) and IBM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) are all set to report results after Wednesday's close.
<h2 class="wp-block-heading">Wednesday&#8217;s Performance Of US Indices, ETFs</h2>
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>% Chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,272.31</td>
<td>1.0%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>44,892.90</td>
<td>0.9%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>6,340.17</td>
<td>0.5%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>23,077.71</td>
<td>0.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated by 12:40 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul class="wp-block-list">
<li>The&nbsp;Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) rose 0.5% to $580.89.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 0.9% to $448.95.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;held steady at $561.44.</li>
<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) soared 1.1% to $225.66.</li>
<li>The&nbsp;Industrials&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>) outperformed, up 1.8%; the&nbsp;Utilities&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) lagged, down 0.8%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stocks Movers</h3>
<ul class="wp-block-list">
<li>GE Vernova Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>) soared 13% after beating the Street&#8217;s estimates last quarter.</li>
</ul>
Other stocks reacting to earnings reports included:
<ul class="wp-block-list">
<li>Intuitive Surgical Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>) down 3.54%</li>
<li>Texas Instruments Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>) down 11.80%</li>
<li>Boston Scientific Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>) up 3.94%</li>
<li>NextEra Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>) down 6.62%</li>
<li>Amphenol Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APH#NYSE">APH</a>) up 3.15%</li>
<li>CME Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CME#NASDAQ">CME</a>) up 1.32%</li>
<li>Moody's Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCO#NYSE">MCO</a>) up 2.14%</li>
<li>Capital One Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>) up 2.30%</li>
<li>General Dynamics Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) up 6.47%</li>
<li>Fiserv Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FI#NASDAQ">FI</a>) down 16.10%</li>
<li>Infosys Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INFY#NYSE">INFY</a>) up 1.66%</li>
<li>Freeport-McMoRan Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) down 1.84%</li>
<li>Hilton Worldwide Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>) down 2.04%</li>
<li>TE Connectivity plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEL#NYSE">TEL</a>) up 10.30%</li>
<li>CoStar Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSGP#NASDAQ">CSGP</a>) up 6.34%</li>
<li>Otis Worldwide Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OTIS#NYSE">OTIS</a>) down 10.32%</li>
<li>Teledyne Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDY#NYSE">TDY</a>) down 3.76%</li>
<li>Lennox International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LII#NYSE">LII</a>) up 8.84%</li>
<li>Northern Trust Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTRS#NASDAQ">NTRS</a>) down 3.53%</li>
<li>Rogers Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCI#NYSE">RCI</a>) up 0.29%</li>
<li>East West Bancorp Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EWBC#NASDAQ">EWBC</a>) down 2.16%</li>
<li>Mr. Cooper Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COOP#NASDAQ">COOP</a>) up 0.90%</li>
<li>Hasbro Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAS#NASDAQ">HAS</a>) down 0.73%</li>
<li>Lamb Weston Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LW#NYSE">LW</a>) up 16.08%</li>
</ul>
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/07/46557704/trump-america-first-agenda-ai-industrial-stocks-defense-sector">Trump&#8217;s Sledgehammer Policies Have Ignited Wall Street&#8217;s Hottest Trade—And It&#8217;s Not AI </a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Emerging Market ETFs

Commodities

COOP

CSGP

EWBC

GOOGL

INFY

ISRG

NTRS

OTIS

Stocks Jump On Trump's Trade Deal Deluge Ahead Of Big Tech Earnings: What's Moving Markets Wednesday?

Major indexes are higher after President Trump announced a US-Japan trade deal.

It was a quiet Tuesday on Wall Street, as major indexes edged lower with investors pausing ahead of a critical <a href="https://www.benzinga.com/topic/magnificent-seven">wave of tech earnings.</a>
By midday trading in New York, the S&amp;P 500 dipped 0.1% and the Nasdaq 100 slipped 0.5%, pulling back after hitting fresh all-time highs on Monday. The Russell 2000 outperformed, rising 0.6%.
Weak corporate results weighed on sentiment. Philip Morris International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PM#NYSE">PM</a>) plunged 9.5% after missing revenue forecasts. Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) dropped more than 8% on a double miss, and General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) lost 5.5% after warning of a steeper-than-expected tariff hit in the second half of 2025.
Health care led sector gains, while tech stocks lagged, as attention turns to earnings from Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) which are slated to report earnings on Wednesday. 
On the macro front, Treasury Secretary Scott Bessent said the U.S. will meet with Chinese officials next week to continue trade negotiations. That raised hopes for an extension to the August 12 China tariff deadline.
In the bond market, the 10-year Treasury yield fell for a fifth straight session to 4.33%, its lowest level in over a week. Meanwhile, the U.S. dollar index dropped 0.4%, extending its slide for a third day.
Gold climbed 0.9% to $3,420 per ounce, the highest since June 16, as uncertainty surrounding the Federal Reserve's independence and Chair Jerome Powell's future fueled safe-haven demand.
In crypto, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rose 1.4% to $119,000, extending its rebound alongside broader market hedging flows.
Read also:<a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46549915/el-erian-powell-trump-resign-fed-independence-scott-bessent"> El-Erian Says Powell Should Resign—To Save The Fed Itself</a>
<h3 class="wp-block-heading">Tuesday&#8217;s Performance Of Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,243.42</td>
<td>0.6%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>44,378.27</td>
<td>0.1%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>6,300.18</td>
<td>-0.1%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>23,073.22</td>
<td>-0.5%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated by 12:00 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul class="wp-block-list">
<li>The&nbsp;Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) eased 0.2% to $557.08.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) flattened at $443.63.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;eased 0.6% to $560.86.</li>
<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.6% at $222.67.</li>
<li>The&nbsp;Health Care&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) outperformed, up 1.3%; the&nbsp;Technology&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) lagged, down 0.7%.</li>
</ul>
<h3 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h3>
Stocks reacting on earnings reports included: 
<ul class="wp-block-list">
<li>D.R. Horton Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>), up 14.5%</li>
<li>Northrop Grumman Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>), up 8.4%</li>
<li>PACCAR Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCAR#NASDAQ">PCAR</a>), up 4.7%</li>
<li>MSCI Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSCI#NYSE">MSCI</a>), down 6.8%</li>
<li>RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>), down 2.5%</li>
<li>Coca-Cola Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), down 1.0%</li>
<li>Danaher Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHR#NYSE">DHR</a>), down 0.3%</li>
<li>Equifax Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFX#NYSE">EFX</a>), down 7.2%</li>
<li>IQVIA Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IQV#NYSE">IQV</a>) up 18%, </li>
<li>Synchrony Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYF#NYSE">SYF</a>) up 1.5%</li>
<li>PulteGroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>) up 9.4%</li>
<li>KeyCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEY#NYSE">KEY</a>) up 1.6%</li>
<li>Quest Diagnostics Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGX#NYSE">DGX</a>) up 6.3%</li>
<li>Halliburton Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>) up 0.4%</li>
<li>Genuine Parts Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPC#NYSE">GPC</a>) up 5.5%</li>
<li>Tenet Healthcare Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>) down 4.3%</li>
<li>Avery Dennison Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVY#NYSE">AVY</a>) up 0.3%</li>
<li>Invesco Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVZ#NYSE">IVZ</a>) up 4.1%</li>
<li>Mueller Industries Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MLI#NYSE">MLI</a>) up 0.5%</li>
<li>Old National Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONB#NASDAQ">ONB</a>) down 1.2%</li>
<li>Valmont Industries Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VMI#NYSE">VMI</a>) up 5.1%</li>
<li>Badger Meter Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMI#NYSE">BMI</a>) down 13.8% </li>
<li>Medpace Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEDP#NASDAQ">MEDP</a>), up 53.2%</li>
</ul>
Companies slated to report earnings after the close include Intuitive Surgical Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>), Texas Instruments Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>), Capital One Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>), CoStar Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSGP#NASDAQ">CSGP</a>), EQT Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQT#NYSE">EQT</a>), Enphase Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) and East West Bancorp Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EWBC#NASDAQ">EWBC</a>). 
Read now:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/07/46543934/formula-1-liberty-fwonk-stock-goldman-sachs-forecasts">Formula 1 Is Wall Street&#8217;s New Money Machine—With Horsepower </a></li>
</ul>
Image: Shutterstock

ENPH

MEDP

MSCI

PCAR

Lockheed, General Motors Tumble, Gold Hits 1-Month Highs: What's Moving Markets Tuesday?

Major indexes are higher as investors assess recent earnings reports.

Wall Street opened the week on a risk-on footing, with the S&amp;P 500 and the Nasdaq 100 extending record highs as strong earnings reinforced confidence in corporate America and investors continued to <a href="https://www.benzinga.com/topic/tariffs">shrug off trade tensions.</a>
By midday trading in New York, the S&amp;P 500 had climbed 0.6% to break above 6,330, the Nasdaq 100 rose 0.8% to 23,260, and the Dow Jones added 260 points, or 0.6%. 
Commerce Secretary Howard Lutnick reaffirmed the August 1 tariff deadline as &#8220;hard,&#8221; though he said that negotiation are set to continue.
See Also: <a href="https://www.benzinga.com/markets/economic-data/25/07/46521011/trump-stocks-bonds-foreign-inflows-record">Trump&#8217;s Economy Is Riding A Tsunami Of Inflows — So Much For &#8216;Sell America&#8217;</a>
Gold prices jumped 1.5% to $3,400 per ounce, hitting a one-month-high, while silver gained 1.9%, both lifted by renewed dollar weakness.
The U.S. dollar index slipped below 98 amid rising concerns over the Fed's independence. On Monday, Treasury Secretary Scott Bessent called for a review of the institution, telling CNBC that there's a need to "examine the entire Federal Reserve institution and whether they have been successful."
Meanwhile, President Donald Trump's prolonged criticism of Fed Chair Jerome Powell reignited speculation about a possible dismissal. According to CFTC-regulated betting platform Kalshi, there&#8217;s a 23% chance Powell could be removed by the end of the year. Powell is legally protected from being removed by Trump.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rose 1.1% to $118,590, and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) added 1.8%, as digital asset demand remained strong following latest policy breakthroughs. 
<h3 class="wp-block-heading">Monday&#8217;s Performance Of Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>% Chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>23,258.14</td>
<td>0.8%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,253.86</td>
<td>0.6%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>6,335.66</td>
<td>0.6%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>44,602.93</td>
<td>0.6%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated by 12:00 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul class="wp-block-list">
<li>The&nbsp;Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) rose 0.6% to $580.15.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 0.6% to $445.86.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;soared 0.8% to $565.17.</li>
<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.6% to $223.58.</li>
<li>The&nbsp;Communication Services&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) outperformed, up 1.2%; the&nbsp;Energy&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down 0.5%.</li>
</ul>
<h3 class="wp-block-heading">Monday&#8217;s Stock Movers</h3>
<ul class="wp-block-list">
<li>Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) soared 4.7% after reporting stronger-than-expected quarterly results.</li>
<li>Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) is weighing the sale of several plants, including three idled facilities in Illinois and Pennsylvania. Shares jumped 7.8% to $10.22, with traders viewing the stock as undervalued.</li>
<li>Bruker Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BRKR#NASDAQ">BRKR</a>) fell 14% to $57.84 after issuing preliminary second-quarter revenue guidance that came in below Wall Street estimates.</li>
<li>Block Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>) jumped 8.1% after it was announced Friday that the financial technology firm will join the S&amp;P 500 before Wednesday's open. </li>
<li>Stocks scheduled to report earnings Tuesday before the market open include Coca-Cola Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), Philip Morris International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PM#NYSE">PM</a>), RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>), Danaher Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHR#NYSE">DHR</a>), Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>), Northrop Grumman Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>), General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), PACCAR Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCAR#NASDAQ">PCAR</a>), MSCI Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSCI#NYSE">MSCI</a>) and D.R. Horton Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>). </li>
</ul>
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Image: Shutterstock

$ETH

BRKR

Wall Street Extends Records, Gold Rallies To $3,400: What's Moving Markets Monday?

It&#8217;s a cautious end to the week on Wall Street, as earnings from Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) <a href="https://www.benzinga.com/analyst-stock-ratings/reiteration/25/07/46498606/netflixs-blockbuster-profits-overshadowed-by-anemic-engagement">failed to impress investors</a>. 
Meanwhile, continued trade tensions kept investors on the sidelines, preventing further gains in tech-heavy indexes already <a href="https://www.benzinga.com/markets">sitting near record levels.</a>
The S&amp;P 500 remained pinned near the 6,300 mark, a key level it has failed to decisively break for the past two weeks. 
The Nasdaq 100 edged down to 23,040, while the Dow Jones Industrial Average slipped 250 points, or 0.5%, by midday trading in New York.
According to the Financial Times, President Donald Trump is pushing for a sweeping 15% to 20% minimum tariff on all European Union goods. He is also rejecting any cut to the current 25% duties on EU car imports. Trump has signaled that if no deal is reached by Aug. 1, a 30% blanket tariff on EU imports could be imposed.
Despite the downbeat tone on Wall Street, fresh data on Main Street offered some positive signals. 
The University of Michigan's consumer sentiment index came in at a five-month high for June. One-year inflation expectations fell to 4.4%, down from 5% in the prior month, easing concerns that tariffs are stoking broader price pressures.
In Fed talks, Federal Reserve Governor Christopher Waller affirmed his support for a July rate cut. He said he may dissent if the Federal Open Market Committee chooses to keep rates unchanged, adding to signs of internal division within the Fed ahead of the July 30 meeting.
In commodities, gold rose 0.4% to $3,360 per ounce as the U.S. dollar weakened
In crypto, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell 1.7% to $117,000 levels. The cryptocurrency is on track for a weekly decline after hitting record highs above $123,000 earlier in the week.
<h2 class="wp-block-heading">Friday&#8217;s Performance In Major US Indices, ETFs</h2>
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>% Chg</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>6,294.04</td>
<td>0.0%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>23,047.36</td>
<td>-0.1%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>44,283.74</td>
<td>-0.5%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,244.44</td>
<td>-0.5%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated by 12:43 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul class="wp-block-list">
<li>The&nbsp;Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) eased 0.1% to $576.48.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) dipped 0.6% to $442.64.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;eased 0.2% to $560.92.</li>
<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.6% to $222.57.</li>
<li>The&nbsp;Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) outperformed, up 1.7%; the&nbsp;Energy&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down 0.8%.</li>
</ul>
<h2 class="wp-block-heading">Friday&#8217;s Stock Movers</h2>
<ul class="wp-block-list">
<li>Netflix fell 5%, heading for its worst session in over three months, as upbeat earnings were overshadowed by a disappointing outlook despite beating Wall Street's revenue and profit forecasts.</li>
<li>Other earnings-driven movers included American Express Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>), down 2.8%, Charles Schwab Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>), up 2.5%, Interactive Brokers Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBKR#NASDAQ">IBKR</a>), up 6.3%, Truist Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>), down 1%, 3M Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>), down 4.5%, Schlumberger NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>), down 3.8%, Huntington Bancshares Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HBAN#NASDAQ">HBAN</a>), down 1.8%, and Ally Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>), down 1.9%.</li>
<li>Invesco Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVZ#NYSE">IVZ</a>) jumped 14% Friday after filing to convert its flagship QQQ Trust Series 1 into an open-end fund, a move that would finally allow the firm to earn revenue from the $250 billion ETF. The regulatory shift marks a potential turning point for Invesco, which currently makes no profit from managing the popular tech-focused fund.</li>
<li>Sarepta Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRPT#NASDAQ">SRPT</a>) plunged 26% after reports that another patient died following treatment with its experimental gene therapy.</li>
<li>Talen Energy Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLN#NASDAQ">TLN</a>) rallied 25% after reaching agreements to acquire two Caithness Energy gas-fired power plants for $3.5 billion.</li>
</ul>
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</ul>
Image: Shutterstock

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Stocks Slip As Netflix Fails To Impress, Bitcoin Eyes Negative Week:  What's Moving Markets Friday?

Major indexes are higher following better-than-expected jobs data as well as recent earnings reports.

U.S. equities climbed on Thursday, with the S&amp;P 500 briefly testing a record high 6,300 level at midday in New York, bolstered by strong earnings and upbeat retail sales data that <a href="https://www.benzinga.com/markets">reinforced investor risk appetite</a>.
The Nasdaq 100 rose 0.9% to a fresh record above 23,000, while the Dow Jones Industrial Average gained 0.4% to 44,400. Small-cap stocks continued to outperform, with the Russell 2000 advancing 1.3%.
Retail sales rebounded in June, rising 0.6% month-over-month after a revised 0.9% drop in May, far exceeding consensus expectations of a 0.1% gain. Meanwhile, initial jobless claims fell to 221,000, the lowest since April, suggesting ongoing resilience in the labor market.
Investor nerves eased after President Donald Trump denied reports suggesting he was considering the removal of Federal Reserve Chair Jerome Powell.
Tech-led sector gains, with the combined market capitalization of the so-called Magnificent Seven stocks climbing to $18.4 trillion.
Bond market jitters persisted as 30-year Treasury yields touched 5%, though equity markets largely shrugged off the move.
The U.S. dollar strengthened 0.4%. Commodities rallied, driven by a 1.6% rise in oil prices to above $67 per barrel, while platinum hit its highest level since August 2014.
In cryptocurrencies, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) held steady around $118,870. Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) rose 1.3%, extending its winning streak to nine gains in the last 10 sessions.
<h2 class="wp-block-heading">Thursday&#8217;s Performance In Major U.S. Indices, ETFs</h2>
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>% chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,253.82</td>
<td>1.2%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>23,104.30</td>
<td>0.9%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>6,297.76</td>
<td>0.5%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>44,475.55</td>
<td>0.5%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated by 12:10 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul class="wp-block-list">
<li>The&nbsp;Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) rose 0.5% to $576.76.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 0.5% to $444.72.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;rallied 0.8% to $561.85.</li>
<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) soared 1.2% to $223.68.</li>
<li>The&nbsp;Technology&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, up 0.9%; the&nbsp;Health Care&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) lagged, down 0.8%.</li>
</ul>
<h2 class="wp-block-heading">Thursday&#8217;s Stock Movers</h2>
PepsiCo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) shares climbed over 6% after the beverage giant reported quarterly earnings and revenue that topped analyst expectations.
United Airlines Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) rose 5.7% earlier in the day, despite issuing a muted full-year earnings outlook. The company noted that its financial trajectory has become more predictable compared to the volatile first half of the year.
Earnings-driven stock moves included:
<ul class="wp-block-list">
<li>Abbott Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABT#NYSE">ABT</a>), down 8%</li>
<li>GE Aerospace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>), down 2.2%</li>
<li>Elevance Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELV#NYSE">ELV</a>), down 11%</li>
<li>Cintas Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTAS#NASDAQ">CTAS</a>), up 2.7%</li>
<li>U.S. Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>), down 1.4%</li>
<li>The Travelers Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>), up 2.8%</li>
<li>Citizens Financial Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFG#NYSE">CFG</a>), up 3.5%</li>
</ul>
Lucid Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) soared more than 40% after unveiling a partnership with Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) and autonomous vehicle startup Nuro to launch a robotaxi program. The initiative will deploy 20,000 autonomous vehicles, backed by a $300 million investment from Uber.
Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) is scheduled to report its earnings after the closing bell.
Read Now:
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</ul>
Photo: Shutterstock

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streetTRACKS Dow Jones U.S. Large Cap Value Index Fund

LCID

UBER

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

The Russell 2000 Index, a benchmark for 2,000 small-cap U.S. stocks, has shown no growth, posting a stagnant -0.57% year-over-year return as of mid-2025. 
What Happened: According to a chart shared by Kevin Gordon, senior investment strategist at Charles Schwab &amp; Co., Inc., "Russell 2000 has made no progress on a y/y basis," highlighting a stark contrast with the S&amp;P 500 index's 12.09% gain over the same period.
The lackluster performance has sparked concerns about the health of small-cap stocks amid a broader market divergence. This comes amid the annual Russell Reconstitution, completed on June 27, which reshuffled the Russell indices.
<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">Russell 2000 has made no progress on a y/y basis <a href="https://t.co/BWerhR5SPX">pic.twitter.com/BWerhR5SPX</a>
&mdash; Kevin Gordon (@KevRGordon) <a href="https://twitter.com/KevRGordon/status/1945811217639231965?ref_src=twsrc%5Etfw">July 17, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Jeff Buchbinder, the chief equity strategist at LPL Financial, noted in a recent analysis, "While small caps remain significantly smaller than the $56 trillion large cap market, the Russell 2000 still stands as a major global equity market — larger than the entire equity markets of France, Germany, Canada, and Australia.&#8221;
&#8220;In fact, if treated as a standalone market, the Russell 2000 would rank as the sixth largest in the world, trailing only the U.S. Russell 1000, China, Japan, the United Kingdom, and India,&#8221; he added.
Despite its enormity and significance as highlighted by Buchbinder, the small-cap index has underperformed over the past year. Only the top U.S. companies in the S&amp;P 500, weighted by their market capitalization, have been driving the overall gains.
Buchbinder also highlights that the reconstitution saw a record 2.5 billion shares traded in 0.9 seconds, reflecting $102.4 billion in value, yet small-caps failed to capitalize.
See Also: <a href="https://www.benzinga.com/markets/equities/25/07/46463595/dan-ives-picks-5-stocks-for-2nd-half-of-2025-nvidia-palantir-microsoft-and-more-golden-age-of-tech-is-here-with-ai-revolution">Dan Ives Picks 5 Stocks For 2nd Half Of 2025: Nvidia, Palantir, Microsoft And More: &#8216;Golden Age Of Tech Is Here With AI Revolution&#8217;</a>
Why It Matters: Meanwhile, the Russell 1000, comprising the largest 1,000 stocks, is thriving, with its top 10 constituents now accounting for $18 trillion of the $55.7 trillion index. This index has returned 12.47% over the past year.
Buchbinder explained that &#8220;turnover within indexes remained relatively muted,&#8221; despite the reconstitution because the &#8220;uptick in volatility on reconstitution day has come down in recent years.&#8221;
This happens as FTSE Russell releases preliminary changes nearly two months in advance, allowing institutional investors and traders the ability to adjust their portfolios ahead of time.
"For investors considering adjustments to their portfolios following these changes, we suggest staying patient while keeping in mind that volatility may pick up over the next few weeks around tariff headlines, incoming inflation data, the upcoming earnings season, and historical seasonal weakness," advised Buchbinder.
Price Action: The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>), 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 Russell 2000, S&amp;P 500, and Nasdaq 100 indices, respectively, were mixed in premarket on Thursday.
The IWM was down 0.27% to $220.43, SPY was up 0.03% at $624.41, while the QQQ advanced 0.17% to $558.23, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Read Next:
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: khunkornStudio via Shutterstock

Russell 2000 Makes 'No Progress' Amid Reconstitution Shake-Up: Are Small-Caps Struggling As Large-Caps Soar?

Volatility surged across interest rate-sensitive assets Wednesday after reports circulated that President Donald Trump may be preparing to remove Federal Reserve Chair Jerome <a href="https://www.benzinga.com/markets/economic-data/25/07/46430675/trump-powell-june-inflation-fed-rate-cuts">Powell from his post.</a> The rumors sparked fears over the Fed's independence, triggering a broad flight to gold and a sell-off in the U.S. dollar.
While Wall Street was mostly flat during midday trading in New York, traders were on edge, digesting the potential implications of a leadership shake-up at the central bank. Speculators are already positioning for a more dovish monetary path, anticipating that Powell&#8217;s possible ouster could accelerate future interest rate cuts.
Gold prices jumped sharply, soaring from $3,325 to over $3,377 per ounce within minutes before paring gains to around $3,350.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rallied 1.2% to $119,000, benefiting from dollar weakness and renewed demand for decentralized assets.
The U.S. dollar index fell 0.3%, on track to snap a four-day winning streak. At the same time, Treasury yields edged slightly lower as bond traders priced in increased political and monetary policy uncertainty.
Economic data released Wednesday added fuel to the rate-cut narrative. The <a href="https://www.benzinga.com/markets/economic-data/25/07/46440481/producer-prices-rise-less-than-expected-inflation">Producer Price Index was flat in June</a>, down from a 0.3% gain in May and below the 0.2% consensus forecast. On a year-over-year basis, producer prices rose 2.3%, the slowest pace since September 2024 and softer than the 2.5% economists had expected.
Core PPI, which excludes volatile food and energy prices, was also unchanged in June. The annual rate dropped to 2.6% from a revised 3.2% in May, falling short of the 2.7% consensus.
<h2 class="wp-block-heading">Wednesday&#8217;s Performance In Major U.S. Indices, ETFs</h2>
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>Chg %</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,212.86</td>
<td>+0.4%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>44,089.92</td>
<td>+0.2%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>6,246.61</td>
<td>+0.0%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>22,845.74</td>
<td>-0.2%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated by 12:44 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul class="wp-block-list">
<li>The&nbsp;Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) flattened at $571.60.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) inched 0.1% up to $440.42.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;dropped 0.3% to $555.24.</li>
<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.2% to $219.37.</li>
<li>The&nbsp;Health Care&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) outperformed, up 1%; the&nbsp;Materials&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>) lagged, down 0.8%.</li>
</ul>
<h2 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h2>
<ul class="wp-block-list">
<li>Shares of major banks were mixed despite beating earnings expectations, with Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) finishing flat, Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) slipping 1.4% and Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) falling 2.8%.</li>
<li>Other stocks reacting to earnings report included Progressive Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>) up 1.55%, Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) up 6.7%, Prologis Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLD#NYSE">PLD</a>) up 1.9% and Kinder Morgan Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>) up 0.4%.</li>
<li>Unity Software Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/U#NYSE">U</a>) surged 13% after Jefferies raised its price target to $35 from $29.</li>
</ul>
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<li><a href="https://www.benzinga.com/real-estate/25/07/46448654/real-estate-stocks-sp500-interest-rates">Cheaper Than 2008—Is This Wall Street&#8217;s Forgotten Sector A Screaming &#8216;Buy&#8217;?</a></li>
</ul>
Photo: Shutterstock

Gold, Bitcoin Surge As Trump Eyes Powell Ouster: What's Moving Markets Wednesday?

The Nasdaq 100 surged to fresh record highs on Tuesday, breaking above the 23,000 mark as Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and other chipmakers powered a sharp rally. Investors cheered the news that Nvidia and Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) would resume certain chip sales to China, even as they parsed quarterly results <a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/07/46420414/bank-earnings-performance-q2-citigroup-jpmorgan-blackrock-wells-fargo">from major U.S. banks.</a>
The iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>) climbed 1.6% to a new all-time high, extending its rally to 67% since the April lows.
Meanwhile, the White House confirmed that trade negotiations are ongoing with the EU, Japan, and South Korea, following the imposition of steep tariffs on imports from all three regions—measures that could trigger price surges starting in August.
On the macro front, U.S. inflation accelerated for a second straight month. The headline consumer price index rose 2.7% year-over-year in June, the highest since February and in line with expectations. However, core inflation, which strips out food and energy, came in slightly below forecasts at 2.9%, versus 3.0% expected.
The softer core reading reinforced market expectations for monetary easing, with futures now pricing in two rate cuts from the Federal Reserve by year-end.
Elsewhere in markets, the U.S. dollar index rose 0.44%, on track for a fourth consecutive daily gain. Gold dipped 0.7% to $3,325 per ounce, while silver slid 1.2%. 
In crypto, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell 2.8%, on pace for its worst daily loss since late May.
<h3 class="wp-block-heading">Tuesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>Chg %</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>22,974.53</td>
<td>0.5%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>6,266.49</td>
<td>0.0%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>44,173.53</td>
<td>-0.6%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,224.92</td>
<td>-1.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated by 12:15 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul class="wp-block-list">
<li>The&nbsp;Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) flattened at $574.00.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) dropped 0.6% to $441.81.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;rose 0.5% to $559.98.</li>
<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) tumbled 1.1% to $220.65.</li>
<li>The&nbsp;Technology&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, up 1.2%; the&nbsp;Materials&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>) lagged, down 1.7%.</li>
</ul>
<h3 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h3>
<ul class="wp-block-list">
<li>BlackRock Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) slid 5.8% after its second-quarter revenue came in just below Wall Street estimates.</li>
<li>Other stocks reacting to earnings included JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), down 0.6%, Citigroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), up 2.3%, Wells Fargo Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), down 5%, State Street Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>), down 3%. </li>
<li>Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) dropped 8.1% after CFO Karyn Ovelmen resigned, effective July 11, 2025, with Peter Wexler named interim CFO.</li>
<li>MP Materials Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MP#NYSE">MP</a>) soared 25% after Apple announced a $500 million deal to purchase rare-earth magnets from the company.</li>
</ul>
Now read:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/earnings/25/07/46416888/jpmorgan-q2-earnings-dimon-warns-tariffs-risks">JPMorgan Q2 Highlights: Investment Banking Revenue Jumps, Dimon Warns Of Tariffs And Geopolitical Risk</a></li>
</ul>
Photo: Shutterstock

iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

Tech Stocks Hit New Highs As AI Momentum Builds: What's Moving Markets Tuesday?

U.S. equities traded sideways on Monday as investor sentiment wavered following President Donald Trump's weekend announcement of a sweeping 30% tariff on all imports from the European Union and Mexico, set to <a href="https://www.benzinga.com/topic/tariffs">take effect August 1.</a>
Investor sentiment was further clouded by inflation concerns ahead of Tuesday's consumer price index release. Economists anticipate an annual rise from 2.4% to 2.7%, suggesting that companies may be starting to pass on higher import costs to consumers.
The second-quarter earnings season for major U.S. banks kicks off Tuesday, with JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Citigroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), Wells Fargo &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), and BlackRock Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) all slated to report results before the bell.
Among sectors, energy stocks lagged as oil prices dropped 1.5% to below $67.60 per barrel. The decline came after Trump stopped short of imposing new sanctions on Russian oil, disappointing markets that had anticipated a tougher stance. While Trump did threaten 100% secondary tariffs on Russian energy exports if a ceasefire isn&#8217;t reached within 50 days, the lack of immediate measures weighed on crude.
In contrast, U.S. natural gas prices rose by more than 3%, with futures surpassing $3.40 for the first time in over a week, as rising LNG exports and forecasts for hotter-than-average weather through late July sustained demand.
The U.S. dollar index strengthened for a third straight session, up 1.4% since the start of July, and potentially snapping a five-month losing streak.
Bond markets saw continued volatility, with the 30-year Treasury yield surging to 4.98% — its highest since early June.
In precious metals, gold slipped 0.3% while silver also edged down 0.3% after hitting a fresh 14-year high last week.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rose 0.7% on the day but trimmed earlier gains, pulling back from its record high of $123,278. 
<h2 class="wp-block-heading">Monday&#8217;s Performance In Major US Indices, ETFs</h2>
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>22,859.07</td>
<td>0.3%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,238.86</td>
<td>0.2%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>6,262.13</td>
<td>0.0%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>44,372.64</td>
<td>0.0%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated by 12:35 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul class="wp-block-list">
<li>The&nbsp;Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) flattened at $573.40.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) held steady at $443.51.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;inched 0.2% higher to $555.64.</li>
<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) edged 0.2% higher to $222.13.</li>
<li>The&nbsp;Communication Services&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) outperformed, up 0.8%; the&nbsp;Energy&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down 1.5%.</li>
</ul>
<h2 class="wp-block-heading">Monday&#8217;s Stock Movers</h2>
<ul class="wp-block-list">
<li>Shares of Fastenal Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FAST#NASDAQ">FAST</a>) climbed 1.5% after the company beat analysts&#8217; estimates on both profit and revenue for the second quarter.</li>
<li>Ansys Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANSS#NASDAQ">ANSS</a>) shares rose 3.9% after Synopsys secured regulatory approval from China for its $35 billion acquisition, paving the way for the deal to close.</li>
<li>Constellation Brands Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STZ#NYSE">STZ</a>) fell nearly 5% amid concerns over proposed U.S. tariffs on Mexican imports. The company, heavily reliant on Mexican beer brands, could face rising costs, with analysts projecting a decline in operating margins for its beer segment this fiscal year.</li>
<li>APA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APA#NASDAQ">APA</a>) fell 4% after Jefferies raised its price target to $19 from $17, while maintaining a cautious outlook on the stock. </li>
<li>Defense stocks extended gains on Monday, with the iShares U.S. Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITA#NYSE">ITA</a>) hitting fresh record highs after President Donald Trump announced new military equipment shipments to Ukraine.</li>
</ul>
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<li><a href="https://www.benzinga.com/markets/economic-data/25/07/46392923/une-cpi-inflation-preview-tariffs-markets-fed">June Inflation May Be Hiding A Nasty Surprise For Wall Street</a></li>
</ul>
Photo: Shutterstock

ANSS

FAST

iShares Dow Jones US Aerospace & Defense Index Fund

Wall Street Pauses As Tariff Concerns Rise, Dollar Eyes Third Straight Gain: What's Moving Markets Monday?

Wall Street is poised to conclude the week on a cautious note, with equities easing on Friday after President Donald Trump signaled a <a href="https://www.benzinga.com/topic/donald-trump">more aggressive trade stance. </a>
A formal letter outlining tariff intentions is expected to be delivered to EU leaders in the coming hours, following Trump&#8217;s announcement earlier this week of a 35% tariff on Canadian imports starting Aug. 1 and blanket duties of 15% to 20% on most other trading partners.
The S&amp;P 500 dipped 0.2% and the Nasdaq Composite was flat, after both notched fresh record highs on Thursday. The Dow Jones Industrial Average fell nearly 300 points, dragged down by renewed fears of a global trade escalation and weak sentiment in industrials and financials. Small caps, which had outperformed in recent sessions, dropped over 1%. 
Treasury markets reflected the increased anxiety. The yield on the 10-year U.S. Treasury note climbed nearly 4 basis points to 4.39%, as investors braced for potential inflationary effects from tariffs.
Commodities took center stage, with gold jumping over 1% to $3,355 per ounce, supported by safe-haven flows amid deepening trade frictions. Silver extended its bullish run, surging past $38 per ounce, its highest level in nearly 14 years.
Crude oil prices also regained momentum, with West Texas Intermediate (WTI) futures rising above $68 per barrel, recovering from a 2.5% loss in the prior session.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) pulled back modestly after hitting a new all-time high of $118,839 overnight. The largest cryptocurrency was last trading near $117,500 as broader risk sentiment weakened. 
<h2 class="wp-block-heading">Friday&#8217;s Performance In Major US Indices, ETFs</h2>
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>Chg %</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>22,842.01</td>
<td>0.0%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>6,267.82</td>
<td>-0.2%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>44,374.39</td>
<td>-0.6%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,242.18</td>
<td>-1.0%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated by 1:30 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul class="wp-block-list">
<li>The&nbsp;Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) fell 0.3% to $573.92.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) dropped 0.6% to $443.91.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;flattened at $555.28.</li>
<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) dropped $222.59.</li>
<li>The&nbsp;Energy&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) outperformed, up 0.5%; the&nbsp;Health Care&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) lagged, down 1.1%.</li>
</ul>
<h2 class="wp-block-heading">Friday&#8217;s Stock Movers</h2>
<ul class="wp-block-list">
<li>Halliburton Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>) rallied 3.7% after TD Cowen raised its price target to $36 from $32, while reiterating a Buy rating.</li>
<li>Enphase Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) fell 4.5% after HSBC lowered its price target to $47 from $50, maintaining a Hold rating.</li>
<li>
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<path d="M4.58301 1.7832C4.72589 1.7832 4.84877 1.88437 4.87695 2.02441C4.99384 2.60873 5.22432 3.11642 5.58398 3.50391C5.94115 3.88854 6.44253 4.172 7.13281 4.28711C7.27713 4.3114 7.38267 4.43665 7.38281 4.58301C7.38281 4.7295 7.27723 4.8546 7.13281 4.87891C6.44249 4.99401 5.94116 5.27746 5.58398 5.66211C5.26908 6.00126 5.05404 6.43267 4.92676 6.92676L4.87695 7.1416C4.84891 7.28183 4.72601 7.38281 4.58301 7.38281C4.44013 7.38267 4.31709 7.28173 4.28906 7.1416C4.17212 6.55728 3.94179 6.04956 3.58203 5.66211C3.22483 5.27757 2.72347 4.99395 2.0332 4.87891C1.88897 4.85446 1.7832 4.72938 1.7832 4.58301C1.78335 4.43673 1.88902 4.3115 2.0332 4.28711C2.72366 4.17203 3.22481 3.88861 3.58203 3.50391C3.94186 3.11638 4.17214 2.60888 4.28906 2.02441L4.30371 1.97363C4.34801 1.86052 4.45804 1.78333 4.58301 1.7832Z"></path>
<div class="text-center"></div>
<path d="M6.24992 11.0417C6.65578 11.0417 7.04227 10.9587 7.39339 10.809C7.05099 11.7065 6.35374 12.9827 5.29864 13.1333C4.84303 13.1985 4.52644 13.6206 4.59153 14.0762C4.65662 14.5318 5.07873 14.8484 5.53434 14.7832C7.66169 14.4794 8.93792 12.0592 9.30742 10.1591C9.50975 9.11833 9.48792 7.98412 9.04084 7.03938C8.53525 5.97097 7.43538 5.20335 6.23748 5.20834C4.63238 5.21504 3.33325 6.5183 3.33325 8.12498C3.33325 9.73583 4.63909 11.0417 6.24992 11.0417Z"></path>
<path d="M13.4832 11.0417C13.889 11.0417 14.2755 10.9587 14.6267 10.809C14.2843 11.7065 13.587 12.9827 12.5319 13.1333C12.0763 13.1985 11.7597 13.6206 11.8248 14.0762C11.8899 14.5318 12.312 14.8484 12.7676 14.7832C14.8949 14.4794 16.1712 12.0592 16.5407 10.1591C16.743 9.11833 16.7212 7.98412 16.2741 7.03938C15.7685 5.97097 14.6687 5.20335 13.4708 5.20834C11.8656 5.21504 10.5665 6.5183 10.5665 8.12498C10.5665 9.73583 11.8724 11.0417 13.4832 11.0417Z"></path>Boyd Gaming Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYD#NYSE">BYD</a>) tumbled 6% after announcing it will sell its 5% stake in FanDuel to Flutter Entertainment for $1.76 billion. The deal is expected to close in the third quarter of 2025.</li>
</ul>
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Specialty ETFs

Tariff Jitters Hit Stocks, Silver Jumps To 14-Year Highs: What's Moving Markets Friday?

Major indexes are higher amid a decline in initial jobless claims.

A quiet day on Wall Street turned into a major win for airline investors Thursday, as Delta Air Lines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) surged 12% after posting second-quarter results that topped both earnings and revenue expectations, while indicating a strong demand outlook, sparking <a href="https://www.benzinga.com/markets/earnings/25/07/46341383/delta-air-lines-ceo-confident-in-stronger-2025-as-demand-holds-steady">a broad rally across the sector.</a>
Shares of American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) jumped 12.5% and United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) rallied 13.5%. The U.S. Global Jets ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JETS#NYSE">JETS</a>), which tracks airline stocks, soared 7.2% for its best day since the 90-day tariff pause in April.
Elsewhere, major large-cap averages were little moved. The Nasdaq 100 slipped 0.3% after hitting all-time highs on Wednesday. Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) eased 0.2%, following a 1.8% surge the day before that pushed its market cap to a record-breaking $4 trillion — the largest ever for any company.
Small-cap stocks continued to outperform, with the Russell 2000 touching levels last seen in February. 
A day earlier, President Donald Trump announced sweeping 50% tariffs on imports from Brazil and confirmed the 50% tariff on copper, effective Aug. 1.
iShares MSCI Brazil ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWZ#NYSE">EWZ</a>) fell 1.6% Thursday, adding to a 1.7% decline on Wednesday. The combined 3.3% drop marked the worst two-day performance for Brazilian equities since early April.
Copper futures surged 2.2% to around $5.60 per pound in reaction, with strength spilling into other industrial metals. Silver rose 1.6%, while palladium gained 3.6%, reflecting expectations of tightening supply.
Crude oil prices declined over 2% as the market absorbed reports that OPEC+ is considering halting its planned production increases starting in October, highlighting concerns about a potential oversupply after the summer. 
In economic news, the U.S. labor market showed continued resilience as initial jobless claims dropped to 237,000 last week, beating forecasts. However, continuing claims rose to 1.965 million, the highest level since 2021.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) traded flat at $111,300 after touching a fresh record of $112,040 on Wednesday.
<h2 class="wp-block-heading">Thursday&#8217;s Performance In Major US Indices, ETFs</h2>
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>%chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,266.68</td>
<td>0.7%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>44,705.80</td>
<td>0.6%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>6,275.94</td>
<td>0.2%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>22,790.40</td>
<td>-0.3%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated by 12:18 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul class="wp-block-list">
<li>The&nbsp;Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) inched 0.2% higher to $574.78.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 0.6% to $446.98.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;slipped 0.3% to $554.72.</li>
<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) soared 0.7% to $225.12.</li>
<li>The&nbsp;Health Care&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) outperformed, up 1%; the&nbsp;Technology&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) lagged, down 0.4%.</li>
</ul>
<h2 class="wp-block-heading">Thursday&#8217;s Stock Movers</h2>
<ul class="wp-block-list">
<li>Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) jumped more than 4% after NorthCoast Research raised its price target to $28 from $21, reiterating its &#8216;Buy&#8217; rating.</li>
<li>Freeport-McMoRan Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) climbed 3.3% as copper prices extended gains, with futures rising above $5.60 per pound amid renewed supply concerns.</li>
<li>Nu Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NU#NYSE">NU</a>) dropped 5.1% after Trump announced a 50% tariff on Brazilian imports, sparking a broad selloff in Brazil-linked assets. Read now:<a href="https://www.benzinga.com/news/25/07/46344520/defense-stocks-outperform-tech-trump-budget-boost"></a></li>
<li><a href="https://www.benzinga.com/news/25/07/46344520/defense-stocks-outperform-tech-trump-budget-boost">Forget Tech—Trump Just Made Defense The Hottest Trade On Wall Street</a></li>
</ul>
Photo: Shutterstock

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