The U.S. markets will be closed on Thursday, June 19, in observance of Juneteenth National Independence Day, a federal holiday commemorating the end of slavery in the United States.



What Happened: According to the guidance from the Securities Industry and Financial Markets Association, the New York Stock Exchange and the Nasdaq will both suspend trading for the day, along with the U.S. bond market, which will also remain closed. Trading will resume as normal on Friday, June 20.



Juneteenth is the newest federal holiday in the calendar, having been designated only in 2021 by former President Joe Biden, 156 years after Major General Gordon Granger ordered the final enforcement of the Emancipation Proclamation in Texas on June 19, 1865.



See Also: <a href="https://www.benzinga.com/news/politics/25/06/46010064/ayatollah-assassination-discussion-rejected-by-putin-i-do-not-even-want-to-discuss-this-possibility">Ayatollah Assassination Discussion Rejected By Putin: &#8216;I Do Not Even Want To Discuss This Possibility&#8217;</a>



The decision to make this a national holiday was undertaken following <a href="https://www.benzinga.com/news/24/06/39397814/is-the-market-open-on-juneteenth">months of widespread protests</a> against racial injustice and inequality in 2020. 



While financial markets will be off on Thursday, not all sectors will stop functioning. Most federal government offices, bank branches, schools, and even the U.S. Postal Service will be shutting down, with many state and local government offices also observing the holiday.



Private companies, however, aren&#8217;t required by law to close for federal holidays, and retailers such as Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>), Target Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>), and Walgreens Boots Alliance Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>) will continue <a href="https://edition.cnn.com/2025/06/18/business/open-closed-juneteenth">to</a> remain open during their normal working hours. 



Major banks such as JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) and Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), among others, will be closed, while online banking and ATMs will continue to function. 



Why It Matters: For years, Juneteenth celebrations were <a href="https://www.benzinga.com/news/22/06/27699154/juneteenth-2022-whats-open-whats-closed-and-what-is-the-holiday-all-about-1">restricted only to Texas</a>, but following the unrest that stemmed from the death of George Floyd in 2020, there were growing calls for making it a nationwide holiday.



Besides Juneteenth, the markets remain closed for <a href="https://www.benzinga.com/money/stock-market-holidays">eight other federal holidays</a>, with the following occasions in the coming months,



<ul class="wp-block-list">
<li>Friday, July 4th—Independence Day</li>



<li>Friday, September 5th—Labor Day</li>



<li>Monday, November 24th—Thanksgiving</li>



<li>Friday, December 26th—Christmas Day</li>
</ul>



Photo Courtesy: iHumnoi on Shutterstock.com Read More: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46010451/peter-schiff-doesnt-think-stablecoins-will-help-preserve-dollar-dominance-heres-what-the-economist-says-theyll-do-instead">Peter Schiff Doesn&#8217;t Think Stablecoins Will Help Preserve Dollar Dominance — Here&#8217;s What The Economist Says They&#8217;ll Do Instead</a></li>
</ul>

News

Markets

Are Markets Open On Juneteenth This Year? Here's What's Open And What's Closed On June 19

Venture capitalist Chamath Palihapitiya sparked debate on social media by polling followers about launching another Special Purpose Acquisition Company (SPAC), with 70.7% of 55,458 respondents voting &#8220;no&#8221; amid warnings about his troubled SPAC track record.



What Happened: The former Facebook executive&#8217;s X poll, posted Tuesday, drew immediate scrutiny through the platform&#8217;s Community Notes feature. Users added context highlighting that his COVID-era SPACs have delivered &#8220;horrible returns, often more than -70% since their peak,&#8221; according to community-contributed information.



Palihapitiya, dubbed the &#8220;SPAC King&#8221; <a href="https://www.benzinga.com/news/24/09/41038801/spac-king-chamath-palihapitiya-forecasts-how-ai-will-transform-healthcare-sector-its-not-all-roses-b">during the 2020-2021 market boom</a>, acknowledged the community feedback with characteristic bravado, posting: &#8220;This is trending in the right direction! And someone helped with disclosure! No crying in the casino!!&#8221;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This is trending in the right direction! And someone helped with disclosure! No crying in the casino!!&mdash; Chamath Palihapitiya (@chamath) <a href="https://twitter.com/chamath/status/1935534117816602729?ref_src=twsrc%5Etfw">June 19, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



However, Palihapitiya&#8217;s SPAC empire has left investors with massive losses. According to Sigma <a href="https://sigma.world/news/aibc-forex-chamath-palihapitiyas-spac-empire-crumbles-leaving-investors-in-shambles/">reporting</a>, investors who put $100 into each of his SPACs at their December 2021 peak would face a 73% loss. 



See Also: <a href="https://www.benzinga.com/news/politics/25/06/46011509/bill-ackman-calls-for-northrops-b-2-bombers-boeings-gbu-57s-to-help-israel-finish-the-job-in-gaza-pave-way-for-trumps-nobel-peace-prize">Bill Ackman Calls For Northrop&#8217;s B-2 Bombers, Boeing&#8217;s GBU-57s To Help Israel &#8216;Finish The Job&#8217; In Gaza, Pave Way For Trump&#8217;s &#8216;Nobel Peace Prize&#8217;</a>



Why It Matters: Two of Palihapitiya&#8217;s most prominent SPACs, Clover and Akili Inc., now have enterprise values near zero, while Virgin Galactic stands at just $100 million, according to Sigma. 



His portfolio includes Virgin Galactic Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPCE#NYSE">SPCE</a>), SoFi Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>), Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>), and Clover Health Investments Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLOV#NASDAQ">CLOV</a>).



In September 2022, Palihapitiya closed two SPACs worth $1.6 billion after failing to find suitable acquisition targets among more than 100 companies evaluated. The closures came as rising interest rates and inflation decimated the SPAC market, forcing other notable sponsors like Bill Ackman to wind down their blank-check companies, <a href="https://www.wsj.com/articles/spac-king-chamath-palihapitiya-shuttering-two-spacs-after-failing-to-find-deals-11663674342">according</a> to The Wall Street Journal.



Despite the losses, Social Capital Holdings Inc. generated approximately $750 million in profits from SPAC transactions, according to the WSJ report. 



Read Next:



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<li><a href="https://www.benzinga.com/news/topics/25/06/46010921/palantirs-head-of-defense-says-xi-jinping-is-decoupling-from-us-warns-america-risks-losing-leverage-if-china-tech-shift-goes-unchecked" target="_blank" rel="noreferrer noopener">Palantir's Head Of Defense Says ‘Xi Jinping Is Decoupling From Us' — Warns America Risks Losing Leverage If China Tech Shift Goes Unchecked</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: Kathy Hutchins on Shutterstock.com

CLOV

OPEN

SOFI

SPCE

Chamath Palihapitiya Asks If He Should Launch Another SPAC—70% Say No, Users Warn of Past Failures: 'No Crying In The Casino!'

As tensions continue to flare in the Middle East, U.S. Stock futures inch lower on Wednesday evening, compounded by the Fed&#8217;s decision to hold rates steady, while warning of lower economic growth and persistent inflation.



The&nbsp;S&amp;P 500 Futures are down 0.32%, trading at 6,014.75, followed by Nasdaq Futures at 21,840.50, down 0.48%, and finally Dow Futures, trading at 42,398.00, down 0.27%, at the time of writing this.



This comes amid a Situation Room meeting held in the White House on Wednesday to discuss the ongoing conflict between Iran and Israel. It is still unclear what was discussed during the meeting or who was in attendance, according <a href="https://www.nbcnews.com/world/middle-east/live-blog/israel-iran-live-updates-trump-weighs-us-strike-khamenei-rcna213665">to</a> a report by NBC News. 



See Also: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46009971/trump-cheers-incredible-stablecoin-bill-passed-by-senate-get-it-to-my-desk-asap-no-delays">Trump Cheers &#8216;Incredible&#8217; Stablecoin Bill Passed By Senate: &#8216;Get It To My Desk, ASAP — No Delays&#8217;</a>



Earlier in the day, when asked if the U.S. would strike Iran in support of Israel&#8217;s ongoing campaign, President Donald Trump remained undecided, telling reporters, &#8220;I may do it, I may not do it.&#8221;



Meanwhile, defense stocks and ETFs continue their volatile streak with no clarity just yet on American involvement in this new geopolitical conflict.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td class="has-text-align-center" data-align="center">Stocks</td><td class="has-text-align-center" data-align="center">After Hours</td></tr><tr><td class="has-text-align-center" data-align="center">Elbit Systems Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESLT#NASDAQ">ESLT</a>)</td><td class="has-text-align-center" data-align="center">+0.39%</td></tr><tr><td class="has-text-align-center" data-align="center">Kratos Defense &amp; Security Solutions Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KTOS#NASDAQ">KTOS</a>)</td><td class="has-text-align-center" data-align="center">+0.45%</td></tr><tr><td class="has-text-align-center" data-align="center">Northrop Grumman Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>)</td><td class="has-text-align-center" data-align="center">+0.88%</td></tr><tr><td class="has-text-align-center" data-align="center">RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>)</td><td class="has-text-align-center" data-align="center">+0.60%</td></tr><tr><td class="has-text-align-center" data-align="center">Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>)</td><td class="has-text-align-center" data-align="center">+0.30%</td></tr></tbody></table></figure>



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td class="has-text-align-center" data-align="center">ETFs</td><td class="has-text-align-center" data-align="center">Month-To-Date</td><td class="has-text-align-center" data-align="center">Year-To-Date</td></tr><tr><td class="has-text-align-center" data-align="center">Global X Defense Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHLD#NYSE">SHLD</a>)</td><td class="has-text-align-center" data-align="center">+2.34%</td><td class="has-text-align-center" data-align="center">+56.51%</td></tr><tr><td class="has-text-align-center" data-align="center">iShares U.S. Aerospace &amp; Defense ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>)&nbsp;</td><td class="has-text-align-center" data-align="center">+0.86%</td><td class="has-text-align-center" data-align="center">+23.42%</td></tr></tbody></table></figure>



Asian markets opened lower on Thursday, with Japan&#8217;s benchmark Nikkei 225 down 0.74%, trading at 38,598, led by shipping, exports, and electronics companies.



The U.S. Dollar Index (DXY) is up 0.14%, trading at 98.046 against a basket of global currencies, following the Fed&#8217;s decision to keep rates steady in the short term.



Thursday is a market holiday due to Juneteenth. So, no economic events or major corporate earnings calls are scheduled for the day.



Photo Courtesy: Zakharchuk on Shutterstock.com



Read More: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/education/25/06/46007465/jamie-dimon-sounds-alarm-on-skills-gap-calls-for-overhaul-of-us-education-system">Jamie Dimon Sounds Alarm On Skills Gap, Calls For Overhaul Of US Education System</a></li>
</ul>

Equities

ESLT

KTOS

SHLD

As Trump Weighs Options On Iran — Dow Futures Slip, Defense Stocks Tick Up In After-Hours Session

Leading cryptocurrencies moved sideways Wednesday as Federal Reserve Chair Jerome Powell signaled slower growth and hotter inflation after the central bank left interest rates unchanged.



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 9:50 p.m. ET)</th></tr></thead><tbody><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>-0.15%</td><td>$104,630.33</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-0.27%</td><td>$2,515.68</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+0.37%</td><td>$0.1698</td></tr></tbody></table></figure>



What Happened: Bitcoin consolidated in the $104,000-$105,000 range, with trading volumes plummeting 11% in the last 24 hours.



Similarly, Ethereum fluctuated around $2,500, with an 18% volume decline indicating a lack of interest among traders.



Both assets have stagnated in June after their May surges, with BTC up 0.23% and ETH up 0.03%.



Over $224 million was liquidated from the cryptocurrency market in the last 24 hours, with long position traders bearing the brunt of the losses.&nbsp;



Bitcoin&#8217;s Open Interest dipped 1.24% in the last 24 hours, while ETH recorded a 2.35% fall in funds locked in its derivatives contracts.&nbsp;



Meanwhile, the percentage of Binance traders with long BTC positions fell in the last 24 hours, according to the Long/Short ratio.



The market sentiment returned to "Greed," according to the Crypto Fear &amp; Greed Index.



Top Gainers (24 Hours)



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 9:50 p.m. ET)</th></tr></thead><tbody><tr><td>Aerodrome Finance (AERO)</td><td>+19.02%</td><td>$0.8917</td></tr><tr><td>Raydium (RAY) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+17.56%</td><td>$2.42</td></tr><tr><td>Kaia (KAIA)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+7.60%</td><td>$0.1723 </td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.25 trillion, following a dip of 0.22% in the last 24 hours.



Major stock indexes closed in the red on Wednesday. The Dow Jones Industrial Average dipped 44.14 points, or 0.10%, to close at 42,171.66. The S&amp;P 500 lost 0.03% to end at 5,980.87. The tech-focused Nasdaq Composite was the silver lining, edging up 0.13% to close at 19,546.27.



As widely expected, the Fed <a href="https://www.benzinga.com/markets/economic-data/25/06/46004338/no-rate-cuts-yet-fed-flags-slower-growth-sticky-inflation">left the interest rates unchanged</a> at 4.25%-4.50%, while signaling slower growth and hotter inflation. Later in the day, Fed Chair Powell called <a href="https://www.benzinga.com/markets/macro-economic-events/25/06/46006680/powell-holds-line-on-interest-rates-blames-tariff-uncertainty-for-delay-in-cuts">tariffs a significant source of uncertainty</a> but downplayed ongoing tensions in the Middle East.



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



Analyst Notes: In a statement to Benzinga, Arthur Azizov, founder and investor at B2 Ventures, noted "very few positive developments" are currently occurring.



"If no positive sentiment emerges in the near future, Bitcoin could very well retreat into the $90,000-$84,000 range. On the other hand, if a positive backdrop does appear—particularly if the Fed signals a rate cut—then Bitcoin is likely to reach $128,000 by the end of the year," Azizov said.



He said the key levels to watch are $112,000 and $100,500, with no "major" surges or corrections in sight.



Blockchain analytics firm Santiment stated that the Iran-Israel conflict would continue to cause "volatile and unpredictable price action.



"Despite the initial panic, Bitcoin has remained in the $104,000-$105,000 range, aided by consistent ETF inflows and a lack of follow-through in military actions, mirroring the typical &#8216;risk-off, then stabilize&#8217; pattern seen in previous geopolitical crises," Santiment added.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f1ee;&#x1f1f1;&#x1f1ee;&#x1f1f7; The ongoing conflict between Israel &amp; Iran has led to a visible increase in volatility across crypto. Sentiment data showed major bearish sentiment coming in between June 12th to 15th, in particular, coinciding with a 4–6% drop in Bitcoin&#39;s price and erasing over $200B from… <a href="https://t.co/t1Qe7DlOCf">pic.twitter.com/t1Qe7DlOCf</a>&mdash; Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1935375698828399046?ref_src=twsrc%5Etfw">June 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo Courtesy: sundaemorning on Shutterstock.com



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



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46009971/trump-cheers-incredible-stablecoin-bill-passed-by-senate-get-it-to-my-desk-asap-no-delays">Trump Cheers &#8216;Incredible&#8217; Stablecoin Bill Passed By Senate: &#8216;Get It To My Desk, ASAP — No Delays&#8217;</a></li>
</ul>

Cryptocurrency

Movers

Trading Ideas

$BTC

$DOGE

$ETH

Bitcoin, Ethereum, Dogecoin Rangebound As Fed Chair Jerome Powell Highlights Tariff-Induced Uncertainty: Analyst Says These 2 Levels Are Key For BTC

Sen. Elizabeth Warren (D-Mass.) criticized President Donald Trump&#8216;s tariff policies on Wednesday, arguing they prevent the Federal Reserve from delivering the lower interest rates Americans need.



What Happened: &#8220;Americans deserve lower interest rates and lower costs, but Donald Trump and his reckless tariffs are standing in the way of that relief,&#8221; Warren wrote on X. &#8220;The Fed is getting boxed out by the President&#8217;s chaotic economic policies.&#8221;



Warren&#8217;s comments follow the Fed&#8217;s decision to hold rates at 4.25%-4.50% for the fourth consecutive meeting. Fed Chair Jerome Powell cited tariff-induced inflation concerns as a <a href="https://www.benzinga.com/markets/economic-data/25/06/46004338/no-rate-cuts-yet-fed-flags-slower-growth-sticky-inflation">key factor preventing rate cuts</a>.



The Fed raised its core Personal Consumption Expenditure inflation forecast to 3.1% for 2025, up from 2.8% in March. Powell directly <a href="https://www.benzinga.com/markets/economic-data/25/06/46004338/no-rate-cuts-yet-fed-flags-slower-growth-sticky-inflation">attributed this increase to tariff effects</a>, noting &#8220;we&#8217;re beginning to see some effects&#8221; on goods prices, particularly personal computers and audiovisual equipment.



Powell said <a href="https://www.benzinga.com/markets/macro-economic-events/25/06/46006680/powell-holds-line-on-interest-rates-blames-tariff-uncertainty-for-delay-in-cuts">business surveys indicate</a> &#8220;many companies do expect to put all or some of the effect of tariffs through to the next person in the chain. And ultimately, to the consumer.&#8221;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Americans deserve lower interest rates and lower costs, but Donald Trump and his reckless tariffs are standing in the way of that relief. The Fed is getting boxed out by the President&#39;s chaotic economic policies. <a href="https://t.co/FKfO5tGHlN">pic.twitter.com/FKfO5tGHlN</a>&mdash; Elizabeth Warren (@SenWarren) <a href="https://twitter.com/SenWarren/status/1935455623908348265?ref_src=twsrc%5Etfw">June 18, 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/news/topics/25/06/45988985/israel-says-it-struck-iranian-centrifuge-site-missile-factories-near-tehran-with-over-50-jets-to-disrupt-weapons-program">Israel Says It Struck Iranian Centrifuge Site, Missile Factories Near Tehran With Over 50 Jets To Disrupt Weapons Program</a>



Why It Matters: The Fed&#8217;s dot plot maintains expectations for two rate cuts in 2025, unchanged from March projections. However, 2026 expectations dropped to two cuts from three previously.



Markets initially declined during Powell&#8217;s press conference, with the Nasdaq 100 tracked by Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) dropping 180 points from session highs before recovering on Trump&#8217;s Middle East comments.



Warren <a href="https://www.benzinga.com/news/politics/25/06/45785851/elizabeth-warren-says-trumps-one-big-beautiful-bill-will-rip-away-health-coverage-from-16-million-americans-just-so-jeff-bezos-can-buy-a-third-ya">previously clashed with Trump</a> over his &#8220;One Big Beautiful Bill,&#8221; which the Congressional Budget Office estimates would add $2.4 trillion to the national debt over 10 years while potentially removing health coverage from 16 million Americans.



The Fed projects real GDP growth at 1.4% in 2025, <a href="https://www.benzinga.com/markets/economic-data/25/06/46004338/no-rate-cuts-yet-fed-flags-slower-growth-sticky-inflation">down from 1.7% in March</a>, while unemployment is expected to rise to 4.5%. Powell emphasized there&#8217;s &#8220;no rush&#8221; to ease policy given current economic uncertainties.



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</ul>



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



Photo courtesy: Sheila Fitzgerald / Shutterstock.com

Politics

Elizabeth Warren Says Americans 'Deserve' Lower Interest Rates, But Trump's 'Reckless' Tariffs Stand In The Way: 'The Fed Is Getting Boxed Out'

Federal Reserve Chair Jerome Powell defended the decision to keep interest rates unchanged on Wednesday, saying inflation has eased but not enough to warrant cuts, especially with trade and geopolitical <a href="https://www.benzinga.com/markets/economic-data/25/06/46004338/no-rate-cuts-yet-fed-flags-slower-growth-sticky-inflation">risks clouding the outlook.</a>



"Incoming inflation data has been encouraging," Powell said during his press conference, pointing to three consecutive months of positive readings, "but inflation is still running somewhat above our 2% longer-run objective."



Asked why the Fed cut rates in December but didn't move now despite similar inflation, Powell pointed to the evolving inflation forecast: "We saw a 2.5% forecast in December, 2.8% in March and 3.1% now&#8230; That's due to the effects of the tariffs."



Powell made clear that tariffs—particularly those tied to recent changes in trade policy—remain a significant source of uncertainty. He noted that "we're beginning to see some effects" of tariffs on prices, especially in goods like personal computers and audiovisual equipment, but emphasized that the full impact may take months to filter through.



Powell added that business surveys indicate "many companies do expect to put all or some of the effect of tariffs through to the next person in the chain. And ultimately, to the consumer."



<h3 class="wp-block-heading">Powell Downplays Tensions In The Middle East</h3>



Addressing tensions in the Middle East, Powell said energy price spikes are possible but typically fade without lasting inflationary impact. 



"We haven't seen anything like the 1970s," he said, noting the U.S. economy is now far less reliant on foreign oil.



The Fed now sees core personal consumption expenditures (PCE) inflation at 3.1% in 2025, up from 2.8% in March, and 2.5% in December. 



The Fed dot plot sees potential for two rate cuts in 2025, unchanged from March, and two more in 2026, a slight downward revision from the prior two cuts. 



While several committee members penciled in no rate cuts this year, Powell clarified that no path is locked in. "It's the least unlikely path in a situation like this where uncertainty is very high," he said. "Certainly, a hike is not the base case at all."



<h3 class="wp-block-heading">Markets Recover On Powell-Driven Slide As Trump Comments On Iran</h3>



Markets initially interpreted Powell's comments as hawkish, sending the U.S. Dollar Index up 0.4% within 30 minutes of his press conference. Treasury yields erased session declines, with the 10-year yield recovering to 4.39%.



The Nasdaq 100 – as tracked by the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) – dropped 180 points from its session peak during Powell's remarks but recovered sharply after President Donald Trump made surprise comments on the Middle East.



The S&amp;P 500 and the Dow Jones posted similar intraday swings.



Speaking from the White House, Trump fueled geopolitical tension by suggesting regime change in Iran was possible and hinting at imminent military decisions. 



"Anything could happen. Iran wants to come to the White House. I may do that," Trump said, adding that a meeting on the Iran-Israel conflict was scheduled within the hour.



"We&#8217;re long beyond ceasefire," he said in response to comments from French President Emmanuel Macron, adding, "We&#8217;re looking for total victory and no nuclear weapon."



<h3 class="wp-block-heading">Chart: Tech Stocks Reactions To Fed Meeting, Powell Remarks</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="528" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/18154816/image-294-1024x528.png" alt="" class="wp-image-954490" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/18154816/image-294-1024x528.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/18154816/image-294-300x155.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/18154816/image-294-768x396.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/18154816/image-294-1536x792.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/18154816/image-294-2048x1056.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/health-care/25/06/45997946/stock-market-strategy-investing-analysis-healthcare-stocks-united-health">Nobody Wants To Touch Healthcare Stocks Now – That Might Be A Big Mistake</a></li>
</ul>



Photo courtesy of the Federal Reserve.

Government

Macro Economic Events

Regulations

Broad U.S. Equity ETFs

Econ #s

Economics

Federal Reserve

ETFs

Why Powell Held Rates Steady, And What Trump's Iran Comments Could Mean For Markets

The Federal Reserve held interest rates steady at 4.25%-4.50% for a fourth straight meeting on Wednesday, aligning with market expectations, while signaling slower growth and hotter inflation ahead compared to <a href="https://www.benzinga.com/topic/federal-reserve">its March forecast.</a>



The June Fed statement struck a slightly more confident tone, noting that economic uncertainty has "diminished" compared to March, although stating that it remains elevated. The statement dropped the earlier assessment that risks of both higher inflation and unemployment had risen. 



The description of the labor market was updated to say the unemployment rate "remains low," instead of having "stabilized."



The key highlight of the June meeting was the release of the Fed's updated economic projections, with the "dot plot" — a collection of each policymaker's expectations about future interest rates. 



The median preference points to two cuts in 2025, unchanged from the March projection. The 2026 median dot was downwardly revised, suggesting two rate cuts, down from prior expectations of three.



<h3 class="wp-block-heading">Fed Sees Hotter Inflation, Lower Growth Forecasts</h3>



The mid-point of the federal funds rate remains at 3.9% by the end of 2025, and gradually falling to 3.6% in 2026 and 3.1% in 2027. The long-run rate holds steady at 3.0%.



Inflation forecasts moved higher. The Fed sees headline Personal Consumption Expenditure (PCE) inflation rising 3.0% in 2025, versus 2.7% in the March projection. 



Core PCE inflation, which strips out volatile food and energy prices, is projected at 3.1% in 2025, compared to 2.8% earlier. Both measures are expected to return to the Fed's 2.0% target by 2027.



Labor market expectations were only slightly changed. The unemployment rate is projected to rise to 4.5% in 2025, modestly higher than 4.4% in March. 



Economic growth, however, saw a downgrade. The Fed now projects real GDP growth at 1.4% in 2025, down from 1.7% in March. Growth in 2026 was downwardly revised from 1.8% to 1.6%. 



Markets now await Fed Chair Jerome Powell's press conference at 2:30 p.m. ET, as investors look for clues on the timing of future rate cuts. Powell has repeatedly said there is "no rush" to ease policy, noting that current interest rates are "in a good place" to handle economic uncertainties. 



On Wednesday, President Donald Trump renewed his pressure on Powell, calling for deep rate cuts of 2 to<a href="https://www.benzinga.com/news/politics/25/06/45999380/trump-powell-again-markets-breathe-iran-rejects-demands"> 2.5 percentage points.</a>



<h3 class="wp-block-heading">Summary Of Fed Economic Projections (June 2025)</h3>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><thead><tr><th>Indicator</th><th>2025</th><th>2026</th><th>2027</th><th>Longer Run</th></tr></thead><tbody><tr><td>Change in Real GDP</td><td>1.4</td><td>1.6</td><td>1.8</td><td>1.8</td></tr><tr><td>Mar Projections</td><td>1.7</td><td>1.8</td><td>1.8</td><td>1.8</td></tr><tr><td>Unemployment Rate</td><td>4.5</td><td>4.5</td><td>4.3</td><td>4.2</td></tr><tr><td>Mar Projections</td><td>4.4</td><td>4.3</td><td>4.3</td><td>4.2</td></tr><tr><td>PCE Inflation</td><td>3.0</td><td>2.4</td><td>2.0</td><td>2.0</td></tr><tr><td>Mar Projections</td><td>2.7</td><td>2.2</td><td>2.0</td><td>2.0</td></tr><tr><td>Core PCE Inflation</td><td>3.1</td><td>2.4</td><td>2.0</td><td>&#8211;</td></tr><tr><td>Mar Projections</td><td>2.8</td><td>2.2</td><td>2.0</td><td>&#8211;</td></tr><tr><td>Federal Funds Rate</td><td>3.9</td><td>3.6</td><td>3.1</td><td>3.0</td></tr><tr><td>Mar Projections</td><td>3.9</td><td>3.4</td><td>3.1</td><td>3.0</td></tr></tbody></table></figure>



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/economic-data/25/06/45993369/mohamed-el-erian-warns-feds-path-forward-is-clouded-by-trump-tariffs-and-israel-iran-conflict">Mohamed El-Erian Warns Fed&#8217;s Path Forward Is Clouded By Trump Tariffs And Israel-Iran Conflict </a></li>
</ul>



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="&#x1f534;WATCH LIVE: Fed Chair Powell Press Conference &#x7C; FOMC Rate Decision &#x7C; June 18, 2025" width="500" height="281" src="https://www.youtube.com/embed/2L0yhVrhG40?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>



Image created using artificial intelligence via Midjourney.

No Rate Cuts Yet: Fed Flags Slower Growth, Sticky Inflation

Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) continues to do the heavy lifting among the <a href="https://www.benzinga.com/topic/magnificent-7">Magnificent Seven</a> companies. Prices are holding in a channel that shows a potential upside drift into the stock. Because of the geopolitical and economic uncertainty, we may get a wiggle downward next week, but the dips make for great buying opportunities. 



That makes this a perfect time to make a &#8220;butterfly&#8221; trade on Meta.



<h2 class="wp-block-heading">Matt Maley's Post-Fed Trading Strategy—Live This Sunday</h2>



Volatility is picking up. Macro catalysts are looming. And the trades that worked before the Fed may not hold going forward. In this live session, Matt Maley walks you through how he's navigating the new market landscape—including the sector shifts, sentiment signals, and trade setups he's targeting right now. This is your real-time strategy update for the week ahead. Join for free <a href="https://events2.benzinga.com/matt-maley-webinar-sun-june22-2025-registration/?utm_campaign=webinar062225&amp;utm_adType=sponsorad&amp;utm_ad=RD062025">HERE</a>



This is how I do it.



Meta&#8217;s current relative resistance zone sits right around $740, but trading could be choppy for the next week, so I&#8217;m waiting to target entry on any dips into $730. This will minimize risk exposure, create a cheaper entry, and allow for better profit targets. Support sits near $650. 



Our trade today, a long call butterfly, is the combination of a long call spread and a short call spread that share the same short strike and the same expiration date. Though the position is often defined as ‘delta neutral', this trade certainly delivers profit if price action rises as expected: 



<ul class="wp-block-list">
<li>Buy to open 1 META 18 Jul 730 calls </li>



<li>Sell to open 2 META 18 Jul 750 calls </li>



<li>Buy to open 1 META 18 Jul 770 calls </li>
</ul>



Set an alert for prices near the middle strike so that you are very aware of the motion into the middle strike, as this is where the maximum profit will engage into expiration. You will also notice that price action for the butterfly is more sensitive to fluctuation the closer we are to expiration. 



The long call butterfly holds a current debit of $2.13 at this writing and represents the total risk incurred in the trade. The breakeven price of the stock at expiration on this trade is $732.13 less commissions.&nbsp;



The total highest potential profit is $20 (the distance between 730 and 750 strikes) less the cost of the debit incurred by buying the call butterfly, so $20 &#8211; $2.13 = $17.87 less commissions.&nbsp;



It is extremely rare to collect all this premium in this kind of butterfly. Consider price action information to drive your risk and profit parameters, and consider profit targets near resistance prices and 100-200% returns, as a suggestion.&nbsp;



The strategy provides several ways to exit, but I will discuss only the two main ones: 



<ol class="wp-block-list">
<li>Sell the call butterfly when the profit goal moves into your target parameters, particularly once the middle strike is tested near expiration. I often look for 90% to 300% return for these types of call butterflies, where the first long call strike is out of the money. </li>



<li>Sell the call butterfly when your loss threshold is breached. Customarily, this is 50% for me. </li>
</ol>



The more advanced trader might consider rolling the short strikes down over time if the price continues upward. 



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



Photo: Shutterstock

Opinion

My Favorite Magnificent 7 Trade For This Week

Wall Street&#8217;s aversion to the dollar has reached its highest in two decades. Bank of America&#8217;s June Global Fund Managers Survey indicates that <a href="https://www.benzinga.com/markets/economic-data/25/06/45974992/everyone-now-hates-the-dollar-is-that-the-ultimate-buy-signal">37% of investors are underweight on the U.S. dollar</a>, the most bearish skew in two years. But this unusual unanimity is flashing something interesting for ETF investors: a contrarian opportunity.



Enter <a href="https://www.benzinga.com/etfs">dollar-bullish ETFs</a>, namely, the Invesco DB US Dollar Index Bullish Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), WisdomTree Bloomberg U.S. Dollar Bullish Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USDU#NYSE">USDU</a>), and a family of currency-hedged equity ETFs such as iShares Currency Hedged MSCI EAFE (BATS:<a class="ticker" href="https://www.benzinga.com/stock/HEFA#BATS">HEFA</a>) and WisdomTree Japan Hedged Equity (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DXJ#NYSE">DXJ</a>).



These are not merely tactical dollar-strength plays; they might also be the wiser alternative to betting on other world currencies in an era of policy pivots, trade shocks, and geopolitical hairpin turns.



Also Read: <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/06/45983526/trump-wants-an-end-not-a-ceasefire-for-the-israel-iran-war-what-that-means-for-etfs">Trump Wants &#8216;An End, Not a Ceasefire&#8217; For The Israel-Iran War: What That Means For ETFs</a>



<h2 class="wp-block-heading">Why Betting Against The Dollar Might Backfire</h2>



The U.S. Dollar Index, which UUP follows, has dropped around 12% since Donald Trump&#8216;s inauguration on Jan 20. Investors struggle with growing deficits, bewildering tariff messages, and a Fed that seems cornered. On paper, that seems like a good enough setup for wagering on other currencies.



But that is not really the case.



The issue? The alternatives are not exactly poster children for stability.



The eurozone is stuck with anemic growth, recalcitrant inflation, and political weakness from Brussels to Berlin.



The Japanese yen is anchored to ultra-loose monetary policy and a hawkish Fed–BoJ divergence.



The Chinese yuan continues to be politically managed and vulnerable to a shaky property market.



Emerging market currencies? Illiquid, volatile, and sharply responsive to risk-off shocks.



Short version: Sure, sentiment might be bearish on the dollar, but there&#8217;s no neat &#8220;long&#8221; substitute. And in FX, betting on currencies other than the dollar can rapidly go off the rails when global risk rises.



Read More: <a href="https://www.benzinga.com/markets/economic-data/25/06/45974992/everyone-now-hates-the-dollar-is-that-the-ultimate-buy-signal">Everyone Now Hates The Dollar—Is That The Ultimate Buy Signal?</a>



<h2 class="wp-block-heading">UUP, USDU: Tactical Bets With Past Tailwinds</h2>



Invesco&#8217;s UUP and WisdomTree&#8217;s USDU offer liquid, directional exposure to a dollar recovery.



UUP tracks the dollar against a basket of six developed-market currencies, with the euro weighing heavily in the mix.



USDU is a broader one, with a mix of emerging markets and more diversified FX. It is a more diversified bet, but dollar-positive nonetheless.



Both the funds are off this year, tracking the decline of the dollar, and that&#8217;s precisely what could make them attractive. In 2005, when sentiment had been equally bearish, the dollar rallied 14% over several months. That rebound caught a vast majority of short-dollar positions by surprise, and paid off for ETF investors who entered early.



<h2 class="wp-block-heading">For The Cautious: Hedge Your International Equity Exposure</h2>



If jumping headfirst into long-dollar ETFs seems reckless, investors can still be defensive through currency-hedged international ETFs such as HEFA (Europe, Australasia, Far East equities, currency-hedged), DXJ (Japan equities, JPY-hedged), and WisdomTree Europe Hedged Equity Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HEDJ#NYSE">HEDJ</a>) (Eurozone exporters, euro-hedged).



These funds allow investors to hold international diversification without being clobbered if the dollar does rally.



<h2 class="wp-block-heading">Positioning Against The Herd</h2>



When most investors are scrambling to discover the next hard currency, the road of least resistance might be to remain humble in the dollar. For it is during a geopolitical environment characterized by tariff brinksmanship, Middle East turmoil, and election-year uncertainty that stability, no matter how flawed, can become a valuable asset.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/etfs/specialty-etfs/25/06/45982240/beyond-magnificent-7-can-thematic-etfs-like-ives-lead-the-next-wave-of-ai-investing-cio-cullen-rogers-explains">Beyond Magnificent 7: Can Thematic ETFs Like IVES Lead The Next Wave Of AI Investing? CIO Cullen Rogers Explains</a></li>
</ul>



Photo: Shutterstock

Currency ETFs

HEDJ

HEFA

USDU

UUP Vs. The Herd: Contrarian Dollar ETFs In Focus As Sentiment Hits 20-Year Low

Just hours before the Federal Reserve's June policy meeting, President Donald Trump launched a fresh attack on Fed Chair Jerome Powell while sidestepping direct confirmation of a potential U.S. <a href="https://www.benzinga.com/topic/middle-east">military strike on Iran.</a>



What Happened: Speaking outside the White House on Wednesday, Trump renewed his call for sharply lower interest rates. He argues that the U.S. should be "two to two and a half points lower" given what he described as a low-inflation environment.



"We have almost no inflation. We have only success. I&#8217;d like to see interest rates get down now," Trump said, blaming Powell for the high cost of refinancing U.S. debt. 



He claimed that just a one-point reduction would deliver meaningful relief on refinancing federal debt, while a two-point cut would save even more over long-term maturities.



"We'd be saving $700 billion, $800 billion—trillions over time,&#8221; he says.



Trump describes Powell as someone who "refuses to lower the Fed" and "is not a smart person." Trump went further, accusing Powell of personal bias, saying, "I think he hates me.&#8221;



Read Also:<a href="https://www.benzinga.com/markets/macro-economic-events/25/06/45978856/federal-reserve-rate-cuts-trump-tariffs-what-to-watch-wednesday"> No Rate Cuts Yet, Fed Wants To See Where Tariffs Land: Here&#8217;s What To Watch Wednesday</a> 



<h3 class="wp-block-heading">What About Europe? </h3>



Trump also pointed to Europe's more aggressive monetary easing in 2025.



"Europe had 10 cuts. We had none," he said, adding that some countries with lower rates "can't carry our suitcase."



The remarks come as markets expect the Fed to hold its benchmark rate steady in the 4.25%-4.50% range for the fourth straight meeting, while the updated dot plot may show fewer cuts than traders had previously hoped.



<h3 class="wp-block-heading">Iran Rejects Trump&#8217;s Demands</h3>



When Trump reiterated his demand for an "unconditional surrender," calling Iran "schoolyard bullies" with long-standing hostile intentions, it did nothing to sway Iranian Supreme Leader Ayatollah Ali Khamenei.



According <a href="https://www.reuters.com/world/middle-east/americas/israel-iran-air-war-enters-sixth-day-trump-calls-irans-unconditional-surrender-2025-06-17/">to</a> Reuters, Khamenei rejected Trump&#8217;s demand for &#8220;unconditional surrender&#8221; on Wednesday.



The rejection comes after Trump was pressed on U.S. military intentions following a Situation Room meeting on Tuesday. Trump refused to confirm any immediate plans to strike Iran's nuclear infrastructure.



&#8220;Nobody knows what I&#8217;m going to do,&#8221; Trump said.



Regarding hopes of a new round of negotiations, Trump stated that &#8220;nothing is too late.&#8221;



He added, cryptically, "Next week is going to be very big. Maybe less than a week."



<h3 class="wp-block-heading">Markets Signal De-Escalation For Now</h3>



U.S. markets responded positively to the lack of definitive military escalation. 



The Nasdaq 100 — as tracked by the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) — rallied by 0.7% to 21,850 at last check Wednesday. The S&amp;P 500 rose 0.6% to 6,025.



The gains came as investors priced in a reduced likelihood of imminent U.S. military action in Iran, and speculated about possible diplomatic openings.



In commodities, gold pulled back, while West Texas Intermediate crude fell to $72 per barrel, down more than 2% from the previous day's high. The U.S. dollar also dipped slightly as global risk sentiment improved.



Read Now:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/economic-data/25/06/45993369/mohamed-el-erian-warns-feds-path-forward-is-clouded-by-trump-tariffs-and-israel-iran-conflict">Mohamed El-Erian Warns Fed&#8217;s Path Forward Is Clouded By Trump Tariffs And Israel-Iran Conflict </a></li>
</ul>



Image: Shutterstock

Global

Trump Slams Powell Again, Yet Markets Breathe As Iran Rejects President's Demands

Senior economist Mohamed El-Erian anticipated a rocky road ahead for the Federal Reserve to formulate the monetary policy, as the &#8220;uncertainties&#8221; surrounding the federal policies and geopolitical scenario &#8220;cloud&#8221; the Fed&#8217;s policy radar.



What Happened: Despite the consensus on the Fed to hold the interest rates steady at 4.25%-4.5% after Wednesday&#8217;s meeting, El-Erian highlighted certain &#8220;considerable interest&#8221; that will help in determining the monetary policy&#8217;s future path in an X post.



<ul class="wp-block-list">
<li>The extent to which it will lower its growth projection.</li>



<li>What it does with its inflation forecast.</li>



<li>Whether the dot plot will leave two rate cuts for this year.</li>



<li>How Chair Jerome Powell characterizes the trifecta of data, policy, and geopolitical uncertainties.</li>
</ul>



&#8220;One thing is for sure: All this will translate into a continuation of the Fed&#8217;s wait-and-see policy approach,&#8221; he added.



In a following post, he pointed toward the growing tensions between Iran and Israel, along with Donald Trump&#8217;s policies around tariffs and the tax bill.



&#8220;Uncertainties on policy and geopolitics cloud the Fed's policy radar.&#8221;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Thanks <a href="https://twitter.com/lisaabramowicz1?ref_src=twsrc%5Etfw">@lisaabramowicz1</a> An additional consideration to add to an already fascinating debate on what various data insights, quite a few of which are contradictory, are trying to tell us about the outlook for the US economy. As noted in the previous post, this and uncertainties on… <a href="https://t.co/XLx3jAjtP5">https://t.co/XLx3jAjtP5</a>&mdash; Mohamed A. El-Erian (@elerianm) <a href="https://twitter.com/elerianm/status/1935275727785476162?ref_src=twsrc%5Etfw">June 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Meanwhile, Ed Yardeni also highlighted that he would be watching out for the median economic forecasts in the Fed&#8217;s &#8216;Summary of Economic Projections.&#8217;



&#8220;The SEP is likely to signal a couple of small cuts in the federal funds rate in the coming months. But Powell will certainly reiterate that the FOMC is in no hurry to do so,&#8221; he added.



See Also: <a href="https://www.benzinga.com/markets/equities/25/06/45969197/mark-cuban-floats-bold-healthcare-plan-zero-premiums-to-insurance-companies-with-a-cash-pay-revo" target="_blank" rel="noreferrer noopener">Mark Cuban Floats Bold Healthcare Plan: ‘Zero Premiums To Insurance Companies' With A Cash-Pay Revolution</a>



Why It Matters: Macro strategist at the Bear Traps Report, Craig Shapiro, said in an X post that he thinks the Federal Reserve wasn&#8217;t going to bring inflation back down to target in &#8220;any reasonable period of time and they really don&#8217;t care to.&#8221;



According to him, the Fed needs to change the &#8220;composition of their UST (United States Treasuries) holdings on their balance sheet&#8221; because buying T-bills or short-term government securities instead of long-duration securities will alleviate liquidity from the market in the short term and aid in containing inflation.



<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">If the Fed signals that a rate cut cycle is going to commence again later this summer and doesn&#39;t marry that with specific guidance that they are going to be more aggressive on twisting the composition of their UST holdings on their balance sheet to help prevent the incremental…&mdash; Craig Shapiro (@ces921) <a href="https://twitter.com/ces921/status/1934930651687305603?ref_src=twsrc%5Etfw">June 17, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Meanwhile, citing the cooldown in May CPI print, Louis Navellier of Navellier &amp; Associates said that &#8220;I hope the FOMC statement will refer to better-than-expected inflation news rather than anticipating an inflation &#8216;bogeyman&#8217; that has not materialized.&#8221;



The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections show markets pricing a 99.9% likelihood of the Federal Reserve keeping the current interest rates unchanged in its June meeting.



But it projects a 64.9%, 81.4%, and 93.0% chance of a rate cut after September, October, and December meetings.



Price Action: The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, rose in premarket on Wednesday. The SPY was up 0.31% at $599.39, while the QQQ advanced 0.38% to $531.07, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/06/45967469/us-equity-funds-are-raking-in-billions-these-are-the-ones-beating-trumps-tariff-shock-in-2025" target="_blank" rel="noreferrer noopener">US Equity Funds Are Raking In Billions—These Are The Ones Beating Trump's Tariff Shock in 2025</a></li>
</ul>



Photo courtesy: RozenskiP/Shutterstock

Mohamed El-Erian Warns Fed's Path Forward Is Clouded By Trump Tariffs And Israel-Iran Conflict

U.S. stocks inched higher by midday Wednesday, as traders weighed geopolitical uncertainty and awaited the Federal <a href="https://www.benzinga.com/markets/macro-economic-events/25/06/45978856/federal-reserve-rate-cuts-trump-tariffs-what-to-watch-wednesday">Reserve's June policy decision. </a>



President Donald Trump declined to offer a clear response on whether the U.S. would directly intervene in the escalating <a href="https://www.benzinga.com/news/politics/25/06/45988135/bernie-sanders-slams-israels-illegal-attack-on-iran-says-absolutely-imperative-that-the-united-states-not-be-dragged-into-this-war">Israel-Iran conflict</a>.



The Federal Reserve is widely expected to hold rates steady at 4.25%-4.50% for a fourth consecutive meeting. Yet, investor focus is centered on the updated Summary of Economic Projections. 



Economists anticipate the new dot plot will reflect a median expectation of just one rate cut in 2025—down from two in March—alongside modest upward revisions to inflation and downward adjustments to growth forecasts.



<ul class="wp-block-list">
<li>The S&amp;P 500 hovered slightly above the 6,000 mark.</li>



<li>The Nasdaq 100 gained over 100 points to trade around 21,860.</li>



<li>Small caps outperformed, with the Russell 2000 climbing 1%.</li>
</ul>



On a sector basis, consumer discretionary led gains, while energy stocks declined, reversing Tuesday's strength.



Among megacaps, Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>) and Mastercard Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>) slid after the U.S. Senate passed a bill introducing a <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45995223/genius-stablecoin-bill-clears-senate-but-trumps-crypto-profits-loom-over-momentum">regulatory framework for stablecoins</a>. Meanwhile, Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) surged 12% to a four-month-high.



In the bond market, Treasury yields declined, with the 30-year yield falling to 4.85%. Oil prices dropped 1.8% to $72 per barrel after Trump's noncommittal stance on Iran dented expectations of a supply shock. 



Gold rose 0.2%, silver slipped 0.7%, and Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) held steady at $104,800.



<h2 class="wp-block-heading">Wednesday&#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>Russell 2000</td><td>2,124.02</td><td>1.0%</td></tr><tr><td>Nasdaq 100</td><td>21,832.28</td><td>0.5%</td></tr><tr><td>S&amp;P 500</td><td>6,006.16</td><td>0.4%</td></tr><tr><td>Dow Jones</td><td>42,375.03</td><td>0.4%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 12:05 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 $551.</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 0.4% higher to $424.77.</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 $531.28.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rallied 1.1% $210.91.</li>



<li>The&nbsp;Communication Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) outperformed, up 0.6%; 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 0.6%.</li>
</ul>



<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>



<ul class="wp-block-list">
<li>Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) rallied 3.8% after the chipmaker company appointed Greg Ernst as new chief revenue officer as well as three new engineers. </li>



<li>Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) dropped 2%, erasing Tuesday's gains, as Trump's comments prompted investors to scale back exposure to defense contractors.</li>



<li>Jabil Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBL#NYSE">JBL</a>) soared 3.85%, extending all-time highs following Tuesday&#8217;s 9% rally amid stronger-than-expected earnings. </li>



<li>Wolfspeed Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>) plunged 17% after announcing plans to enter a prepackaged bankruptcy agreement with lenders, including Apollo Global Management. The company aims to streamline its Chapter 11 process and will seek creditor approval before officially filing.</li>



<li>Grail Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRAL#NASDAQ">GRAL</a>) surged 12% after reporting encouraging results from its latest cancer detection test.</li>
</ul>



Now Read:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/economic-data/25/06/45993369/mohamed-el-erian-warns-feds-path-forward-is-clouded-by-trump-tariffs-and-israel-iran-conflict">Mohamed El-Erian Warns Fed&#8217;s Path Forward Is Clouded By Trump Tariffs And Israel-Iran Conflict </a></li>
</ul>



Image: Shutterstock

Large Cap

Bonds

Commodities

COIN

GRAL

INTC

WOLF

Wall Street Rises Ahead Of Fed, Payment Stocks Fall On Stablecoin Bill: What's Driving Markets Wednesday?

Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) CEO Andy Jassy announced Tuesday that artificial intelligence will reduce the company&#8217;s corporate workforce due to efficiency gains, prompting immediate criticism from employees across internal communication channels.



What Happened: Jassy told employees that AI will shrink Amazon&#8217;s white-collar workforce over the next few years. According to Business Insider, which <a href="https://www.businessinsider.com/amazon-employees-criticize-ceo-jassys-ai-driven-job-cutting-plan-2025-6">viewed</a> internal Slack messages across three channels, employees criticized the announcement.



&#8220;There is nothing more motivating on a Tuesday than reading that your job will be replaced by AI in a few years,&#8221; one employee wrote. Others questioned whether senior leadership would face similar reductions, noting Amazon&#8217;s S-team has expanded under Jassy.



Some employees supported the move. &#8220;At least he said the quiet part out loud,&#8221; another worker commented. &#8220;We all knew it but now it&#8217;s clearly part of the plan.&#8221;



 Jassy <a href="https://www.benzinga.com/markets/tech/25/06/45982631/amazon-ceo-says-generative-ai-will-reduce-total-corporate-workforce">highlighted in his Tuesday blog post</a> that Amazon has over 1,000 generative AI services and applications in progress. The company&#8217;s AI-driven Alexa+ serves tens of millions of customers worldwide, while over 50,000 advertisers used AI capabilities in the first quarter alone.



Amazon did not immediately respond to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.



See Also: <a href="https://www.benzinga.com/markets/macro-economic-events/25/06/45990167/jamie-dimon-sounds-alarm-on-us-immigration-policies-obsolete-tech-in-defense-strategy-well-be-out-of-missiles-in-seven-days">Jamie Dimon Sounds Alarm On US Immigration Policies, Obsolete Tech In Defense Strategy: &#8216;We&#8217;ll Be Out Of Missiles In Seven Days&#8230;&#8217;</a>



Why It Matters: The announcement comes amid Amazon&#8217;s massive AI infrastructure investments. The company <a href="https://www.benzinga.com/markets/equities/25/06/45943758/amazon-commits-13-billion-to-expand-australias-ai-data-center-infrastructure">committed $13 billion to expand Australia&#8217;s data center</a> infrastructure through 2029, following recent commitments including $10 billion in North Carolina.



In April, Jassy called AI investments a <a href="https://www.benzinga.com/news/management/25/04/44746436/amazon-ceo-justifies-large-ai-investments-as-once-in-a-lifetime-reinvention-of-everything-we-know">&#8220;once-in-a-lifetime reinvention of everything we know,&#8221;</a> emphasizing the need for substantial capital to secure AI chips and build data centers during high-demand periods.



Amazon froze retail hiring budgets this year while expanding AI capabilities, according to the report. 



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/topics/25/06/45990130/kim-jong-un-meets-russian-security-chief-shoigu-in-pyongyang-confirms-support-for-ukraine-operations-under-strategic-pact">Kim Jong Un Meets Russian Security Chief Shoigu In Pyongyang, Confirms Support For Ukraine Operations Under Strategic Pact</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: Markus Mainka / Shutterstock.com

AMZN

Amazon CEO Andy Jassy's AI-Led Job Cuts Warning Sparks Backlash As Employee Reportedly Says 'It's Clearly Part Of The Plan'

Future Fund LLC's managing director, Gary Black, set a $310 price target for Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) ahead of the company's Robotaxi launch in Austin on June 22.



What Happened: The investor gave a breakdown of positive and negative factors that could affect Elon Musk's EV giant's stock performance in a post on social media platform X on Tuesday.



As far as positive catalysts go, the investor shared that the Trump administration's decision to "streamline" federal processes will allow Tesla to "secure general unsupervised autonomy license nationally," he said.



Other factors include an affordable model in the company lineup, as well as possible FSD licensing opportunities. Black also outlined the Cybercab as well as the Optimus line of humanoid robots, both of which are slated for a 2026 production date.



However, he did highlight some negative factors as well, like the government <a href="https://www.benzinga.com/markets/tech/25/06/45965638/amid-trumps-anti-ev-push-senate-republicans-propose-tax-bill-to-axe-7500-ev-credit">axing the $7500 EV credit</a>, as well as the failure to update the lineup and reliance on discounts. "Trump admin restricts state efforts to control carbon emissions, which could significantly reduce TSLA ZEV sales," Black said.



The investor also highlighted Tesla's declining EPS as well as delivery estimates for 2025 as a negative factor. "TSLA 2025 P/E of 170x too high relative to FY'25-‘30 EPS growth of +25% CGR. Avg forward P/E past 3 years 80x," Black said.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> Summary &#8211; 6/17/2025 Positive Catalysts: 1/ Trump streamlines federal process allowing TSLA to secure general unsupervised autonomy license nationally 2/ More affordable vehicle launch in 2025/3Q can expand TAM if it's a different form factor (e.g. hatchback, smaller M-Y).…&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1935114681405841489?ref_src=twsrc%5Etfw">June 17, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Why It Matters: The investor's thoughts come as Tesla, which is reportedly <a href="https://www.benzinga.com/markets/tech/25/06/45989148/tesla-will-shut-down-production-at-the-texas-gigafactory-over-the-4th-of-july-weekend">shutting down its Texas gigafactory</a> over the Fourth of July weekend, is preparing for its Robotaxi launch. The company was recently also officially named as an <a href="https://www.benzinga.com/markets/tech/25/06/45854273/elon-musks-tesla-officially-named-av-operator-in-austin-ahead-of-robotaxi-launch">AV operator in Austin</a>.



In what could prove to be a boost for Tesla, Senate republicans have axed the <a href="https://www.benzinga.com/news/politics/25/06/45988847/senate-republicans-axe-250-annual-fee-on-evs-100-fee-on-hybrids-in-tax-bill-proposal-report">$250 annual fee</a> on EV owners from their tax bill proposal despite U.S. President Donald Trump's <a href="https://www.benzinga.com/news/politics/25/06/45943245/trump-says-he-was-amazed-that-tesla-ceo-elon-musk-endorsed-him-despite-his-anti-ev-stance">anti-EV push</a>.



Elsewhere, recent data shows that <a href="https://www.benzinga.com/markets/tech/25/06/45966726/tesla-vehicle-production-cost-1-7-that-of-waymo-elon-musks-ev-giant-closer-to-full-autonomy-than-competition-report">Tesla's vehicles cost 1/7</a> that of Robotaxi rival Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Waymo and that the EV giant has collected data from over 3 billion miles.



<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="206" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/18055318/TSLA-JUN-18-2025-1-1024x206.jpg" alt="" class="wp-image-953601" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/18055318/TSLA-JUN-18-2025-1-1024x206.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/18055318/TSLA-JUN-18-2025-1-300x60.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/18055318/TSLA-JUN-18-2025-1-768x155.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/18055318/TSLA-JUN-18-2025-1-1536x309.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/18055318/TSLA-JUN-18-2025-1.jpg 1549w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



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



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



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/06/45988738/tesla-robotaxi-rival-waymo-expands-services-in-california-amid-us-autonomous-vehicle-push">Tesla Robotaxi Rival Waymo Expands Services In California Amid US Autonomous Vehicle Push</a></li>
</ul>



Photo courtesy: Shutterstock

Tech

GOOG

GOOGL

TSLA

Tesla's Robotaxi Launch Could Be Key To $310 Price Target, Says Gary Black

U.S. futures were trading higher on Wednesday as oil futures tumbled after President Donald Trump called for an "<a href="https://www.benzinga.com/markets/market-summary/25/06/45988507/trump-demands-irans-uncoditional-surrender-stock-futures-remain-steady-defense-shares-trade-higher-in-after-hours-trading">Unconditional Surrender</a>" of Iran late Tuesday.



Trump also stated in one of his Truth Social posts that the U.S. knows exactly where Iran's "Supreme Leader" was hiding, highlighting that he was an "easy target.&#8221;



Meanwhile, investors expect the <a href="https://www.benzinga.com/markets/macro-economic-events/25/06/45978856/federal-reserve-rate-cuts-trump-tariffs-what-to-watch-wednesday">Federal Reserve</a> to <a href="https://www.benzinga.com/markets/macro-economic-events/25/06/45978856/federal-reserve-rate-cuts-trump-tariffs-what-to-watch-wednesday">hold rates</a> steady at 4.25%-4.50% on Wednesday, to &#8220;wait and see&#8221; the impact of tariffs on the economy.



The 10-year Treasury bond yielded 4.38% and the two-year bond was at 3.94%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections show markets pricing a 99.9% likelihood of the Federal Reserve keeping the current interest rates unchanged in its June meeting. 



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Dow Jones</td><td>0.21%</td></tr><tr><td>S&amp;P 500</td><td>0.28%</td></tr><tr><td>Nasdaq 100</td><td>0.36%</td></tr><tr><td>Russell 2000</td><td>0.24%</td></tr></tbody></table></figure>



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, rose in premarket on Wednesday. The SPY was up 0.32% at $599.43, while the QQQ advanced 0.37% to $531.02, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From Last Session:



U.S. stocks ended lower on Tuesday, with energy stocks being the exception, while most S&amp;P 500 sectors declined, led by significant losses in health care, materials, and consumer discretionary stocks.



The Dow Jones index fell approximately 300 points amid heightened geopolitical concerns following an Axios News <a href="https://www.axios.com/2025/06/17/trump-situation-room-meeting-iran-israel-war">report</a> that President Trump will convene with his national security team in the White House Situation Room to address the intensifying Israel-Iran conflict. 



In stock-specific news, Jabil Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBL#NYSE">JBL</a>) outperformed with stronger-than-expected third-quarter earnings. CERo Therapeutics Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CERO#NASDAQ">CERO</a>) surged 189% after securing FDA Orphan Drug Designation for CER-1236 in treating acute myeloid leukemia.



On the economic front, U.S. retail sales dropped 0.9% month-over-month in May, worse than the anticipated 0.7% decline. U.S. import prices remained flat in May, while export prices fell 0.9%. U.S. industrial production also disappointed, declining 0.2% in May against expectations of a 0.1% increase.



The Dow Jones index ended 299 points or 0.70% lower at 42,215.80, whereas the S&amp;P 500 index fell 0.84% to 5,982.72. Nasdaq Composite declined 0.91% to 19,521.09, and the small-cap gauge, Russell 2000, tumbled 1.04% to end at 2,101.96.



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>-0.91%</td><td>19,521.09</td></tr><tr><td>S&amp;P 500</td><td>-0.84%</td><td>5,982.72</td></tr><tr><td>Dow Jones</td><td>-0.70%</td><td>42,215.80</td></tr><tr><td>Russell 2000</td><td>-1.04%</td><td>2,101.96</td></tr></tbody></table></figure>



Insights From Analysts:



Analysts at BlackRock stated that uncertainty around the economic impact of tariffs and inflation volatility will keep the &#8220;Fed on hold for now.&#8221;



&#8220;Longer term, persistent inflation pressures from tariffs and a tight labor market will likely limit how far the Fed can cut, even if tariff-driven supply disruptions dent growth,&#8221; the BlackRock note stated.



Analysts also anticipated that long-term U.S. bond yields can rise, keeping them &#8220;underweight.&#8221; BlackRock reiterated that it <a href="https://www.benzinga.com/general/market-summary/25/05/45512310/blackrock-bets-on-inflation-goes-overweight-inflation-linked-bonds-amid-us-fiscal-sustainability-challenge-heres-a-list-of-etfs-investors-can-consider">preferred inflation-linked bonds,</a> &#8220;even if they are yet to reflect long-term inflation pressures.&#8221; 



&#8220;We favor infrastructure equity, like stakes in airports and data centers: its returns are buffered from inflation and it outperforms amid supply constraints and high inflation. Private markets are complex and not suitable for all investors,&#8221; said the note.



Tariffs and any sustained oil price rises from the Israel-Iran conflict could leave other central banks facing weaker global growth, explained experts. &#8220;Should the conflict affect the security of critical trade routes, supply disruptions could add to inflation pressures,&#8221; it added.



&#8220;We think the Fed will keep rates steady as it waits for tariff impacts to materialize. Mega forces keep us overweight U.S. stocks.&#8221;



Ed Yardeni highlighted the latest Summary of Economic Projections, which will be released later today, along with the Fed&#8217;s decision on interest rates.



&#8220;Odds are that its median economic forecasts will show slow economic growth with a slight increase in the unemployment rate and a modest short-term uptick in inflation&#8211;all mostly consequences of President Donald Trump&#8217;s tariffs and now the war between Israel and Iran,&#8221; he said.



Add that &#8220;the SEP is likely to signal a couple of small cuts in the federal funds rate in the coming months. But Powell will certainly reiterate that the FOMC is in no hurry to do so.&#8221;



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



Upcoming Economic Data



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



<ul class="wp-block-list">
<li>May&#8217;s housing starts data, building permits data, and the initial jobless claims data for the latest week will be out by 8:3 a.m. ET.</li>



<li>The Federal Open Market Committee will announce its interest-rate decision at 2:00 p.m. ET.</li>



<li>Federal Reserve Chairman Jerome Powell will address a press conference at 2:30 p.m. ET.</li>



<li>On Thursday, markets will remain closed on account of the Juneteenth holiday.</li>
</ul>



Stocks In Focus:



<ul class="wp-block-list">
<li>Korn Ferry (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KFY#NYSE">KFY</a>) was up 0.37% in premarket on Wednesday as analysts expect it to report quarterly earnings of $1.26 per share on revenue of $689.90 million, before the opening bell.</li>



<li>GMS Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GMS#NYSE">GMS</a>) was unchanged at 0.10% ahead of its earnings, which are supposed to be released before the opening bell. Analysts expect earnings of $1.11 per share on revenue of $1.30 billion.</li>



<li>Euroseas Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESEA#NASDAQ">ESEA</a>) advanced 2.58% as analysts expect it to report quarterly earnings of $3.28 per share on revenue of $52.91 million, after the closing bell.</li>



<li>Beyond Air Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XAIR#NASDAQ">XAIR</a>) dropped 21.33% after posting mixed fourth-quarter results. Quarterly revenue came in at $1.15 million, which missed the Street estimate of $1.39 million.</li>



<li>Bitdeer Technologies Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTDR#NASDAQ">BTDR</a>) was 2.44% lower after it reported a $300 million proposed private placement of Convertible Senior Notes.</li>



<li>Ryde Group Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RYDE#NYSE">RYDE</a>) jumped 12.81% as it announced the acquisition of a strategic 40% shareholding in Atoll Discovery Pte. Ltd. (&#8220;Atoll&#8221;), a Singapore-based electric vehicle rental company.</li>



<li>PTL Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTLE#NASDAQ">PTLE</a>) surged 108.74% after approving a dual-class share structure on June 16, 2025. Shareholders also approved share consolidation and related amendments.</li>



<li>Focus Impact BH3 Acquisition Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAFX#NASDAQ">SAFX</a>) zoomed 57.06% after appointing a new six-member Board of Directors after its Nasdaq listing and business combination.</li>



<li>GlycoMimetics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CBIO#NASDAQ">CBIO</a>) slumped 59.38% after Crescent Biopharma completed its merger with the firm and closed a $200 million private placement led by prominent healthcare investors.</li>



<li>Biomea Fusion Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMEA#NASDAQ">BMEA</a>) plummeted 26.21% after announcing a proposed public offering of common stock and warrants</li>
</ul>



Commodities, Gold, And Global Equity Markets:



Crude oil futures were trading lower in the early New York session by 1.05% to hover around $72.50 per barrel.



Gold Spot US Dollar fell 0.24% to hover around $3,380.62 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was lower by 0.17% at the 98.6510 level.



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



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/06/45969197/mark-cuban-floats-bold-healthcare-plan-zero-premiums-to-insurance-companies-with-a-cash-pay-revo">Mark Cuban Floats Bold Healthcare Plan: &#8216;Zero Premiums To Insurance Companies&#8217; With A Cash-Pay Revolution</a></li>
</ul>



Photo courtesy: Shutterstock

BMEA

BTDR

CBIO

CERO

ESEA

PTLE

RYDE

SAFX

XAIR

US Stocks Likely To Open Higher Despite Trump's 'Unconditional Surrender' Call: All Eyes On Powell As Experts Predict Inflation Will Limit Fed's Rate Cut Capacity

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



U.S. stocks settled lower on Tuesday, with the Dow Jones index dipping around 300 points during the session as geopolitical fears surged following an Axios News report that President Donald Trump will meet with his national security team in the White House Situation Room to decide U.S. policy regarding the escalating war between Israel and Iran.



Jabil Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBL#NYSE">JBL</a>) reported better-than-expected third-quarter results. CERo Therapeutics Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CERO#NASDAQ">CERO</a>) shares jumped 189% on Tuesday after the company received FDA Orphan Drug Designation for CER-1236 for the treatment of acute myeloid leukemia.



On the economic front, U.S. retail sales fell 0.9% month-over-month in May compared to a revised 0.1% decline in April and versus market estimates of a 0.7% fall. U.S. import prices came in unchanged from the previous month in May, while export prices declined 0.9% month-over-month in May. U.S. industrial production declined 0.2% in May, versus market estimates of a 0.1% gain.



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



The Dow Jones closed lower by over 299 points to 42,215.80 on Tuesday. The S&amp;P 500 dipped 0.84% to 5,982.72, while the Nasdaq Composite declined 0.91% to 19,521.09 during Tuesday's session.



Investors are awaiting earnings results from Korn Ferry (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KFY#NYSE">KFY</a>), GMS Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GMS#NYSE">GMS</a>) and Euroseas Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESEA#NASDAQ">ESEA</a>) today.



What is CNN Business Fear &amp; Greed Index?



At a current reading of 53.9, the index moved to the &#8220;Neutral&#8221; zone on Tuesday, versus a prior reading of 61.5.



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



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/short-ideas/25/06/45970767/top-3-health-care-stocks-that-are-ticking-portfolio-bombs">Top 3 Health Care Stocks That Are Ticking Portfolio Bombs</a> </li>
</ul>



Photo courtesy: Shutterstock

Pre-Market Outlook

Dow Dips Around 300 Points As Israel-Iran Conflict Escalates: Investor Sentiment Declines, Fear & Greed Index Moves To 'Neutral' Zone

Leading cryptocurrencies edged lower Tuesday amid fears of U.S. involvement in the Iran-Israel conflict.



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 8:45 p.m. ET)</th></tr></thead><tbody><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>-2.06%</td><td>$104,735.63</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-1.79%</td><td>$2,525.57</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-1.35%</td><td>$0.1698</td></tr></tbody></table></figure>



What Happened: Bitcoin steadily declined throughout the day, falling to an intraday low of $103,396.53 by afternoon.



Ethereum also gave up gains from Monday's comeback rally, tumbling below $2,500 before paring losses overnight.



Investors remained on edge amid concerns of U.S. involvement in the ongoing Iran-Israel war. In a series of Truth Social <a href="https://truthsocial.com/@realDonaldTrump">posts</a>, Trump said that "we have complete and total control" over Iran&#8217;s skies and demanded an &#8220;unconditional surrender.&#8221;&nbsp;



Over $330 million was liquidated from the cryptocurrency market in the last 24 hours, with nearly $268 million in bullish long bets wiped out. That said, about $650 million in Bitcoin shorts risked liquidation if the apex cryptocurrency rebounded to $107,000.&nbsp;



Bitcoin&#8217;s Open Interest fell 1.97% in the last 24 hours. Interestingly, more than 55% of Binance&#8217;s top traders with open BTC positions were positioned long, according to the long/short ratio.



The market sentiment flipped from "Greed" to "Neutral," according to the Crypto Fear &amp; Greed Index.



Meanwhile, in a positive development, the Senate approved a landmark bill establishing the <a href="https://www.benzinga.com/markets/cryptocurrency/25/06/45972264/senate-advances-stablecoin-bill-a-defining-moment-for-crypto-market-regulation">country&#8217;s first regulatory framework for stablecoins</a>. The bill now heads to the House for further debate.



Top Gainers (24 Hours)



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 8:45 p.m. ET)</th></tr></thead><tbody><tr><td>Bitcoin SV (BSV)</td><td>+1.98%</td><td>$31.81</td></tr><tr><td>AB (AB) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+0.66%</td><td>$0.01554</td></tr><tr><td>Jito (JTO)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+0.08%</td><td>$2.19 </td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.25 trillion, following a dip of 1.36% in the last 24 hours.



Stocks fell as the recovery rally lost steam on Tuesday. The Dow Jones Industrial Average slid 299.29 points, or 0.70%, to close at 42,215.80. The S&amp;P 500 lost 0.84% to end at 5,982.72. The tech-heavy Nasdaq Composite declined 0.91% to close at 19,521.09.



Investors remained on edge amid concerns of U.S. involvement in the ongoing Iran-Israel war. In a series of Truth Social <a href="https://truthsocial.com/@realDonaldTrump">posts</a>, Trump said that "we have complete and total control" over Iran&#8217;s skies and demanded an &#8220;unconditional surrender.&#8221;&nbsp;



Meanwhile, the Federal Reserve is expected to hold interest rates unchanged in the current 425-450 bps range at Wednesday's meeting, <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">according </a>to the CME FedWatch tool.



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



Analyst Notes: Well-known cryptocurrency commentator Michaël van de Poppe noticed that Bitcoin swept some liquidity but bounced back soon after.



"Doesn&#8217;t say that we&#8217;ve bottomed, but it&#8217;s a great sign to be accumulating those corrections before the next BIG leg upwards happens," Van de Poppe added. "Reclaim of $106,000 is where the party happens."



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> did make that sweep of the liquidity and instantly bounces back. Doesn&#39;t say that we&#39;ve bottomed, but it&#39;s a great sign to be accumulating those corrections before the next BIG leg upwards happens. Reclaim of $106,000 is where the party happens. <a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a>… <a href="https://t.co/eKxtLJ6Hwo">pic.twitter.com/eKxtLJ6Hwo</a>&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1935057401071473010?ref_src=twsrc%5Etfw">June 17, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Another widely followed cryptocurrency analyst and trader, DevKhabib, stated that Ethereum's rejection will take it below the key support level at $2,380 and test the $2,200 levels.



"As long as we don&#8217;t close any weekly candles below the 5-year trendline(red diagonal line), we should be good," the analyst predicted.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> This rejection here is probably the one that will take us below the strong support at $2380 and test the $2200 levels. As long as we don&#39;t close any weekly candles below the 5 year trendline(red diagonal line) we should be good. <a href="https://t.co/rye7c3PLGv">pic.twitter.com/rye7c3PLGv</a>&mdash; DevKhabib (@DevKhabib) <a href="https://twitter.com/DevKhabib/status/1935027737074528442?ref_src=twsrc%5Etfw">June 17, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo Courtesy: alfernec on Shutterstock.com



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



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45971185/bitcoins-newer-buyers-realize-bigger-gains-is-a-90000-now-within-reach">Bitcoin&#8217;s Newer Buyers Realize Bigger Gains – Is A $90,000 Now Within Reach?</a></li>
</ul>

Bitcoin, Ethereum, Dogecoin Dip As Investors Jittery Over US Involvement In Iran-Israel Conflict: Analyst Says BTC's Reclaim Of $106,000 Is 'Where The Party Happens'

U.S. stock futures remain unfazed by President Donald Trump&#8217;s calls for an &#8220;Unconditional Surrender&#8221; by Iran on Tuesday night, as tensions continued to flare in the Middle East.



Starting with the S&amp;P 500 Futures, which trades at 6,045.00, up 0.11%, followed by Nasdaq Futures at 21,986.00, up 0.14%, and Dow Jones Futures up 0.06%, trading at 42,581.00, at the time of writing this.



<figure class="wp-block-image aligncenter size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="408" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/17212516/Screenshot-2025-06-18-at-6.55.02-AM-1024x408.png" alt="" class="wp-image-953126" style="width:595px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/17212516/Screenshot-2025-06-18-at-6.55.02-AM-1024x408.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/17212516/Screenshot-2025-06-18-at-6.55.02-AM-300x119.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/17212516/Screenshot-2025-06-18-at-6.55.02-AM-768x306.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/17212516/Screenshot-2025-06-18-at-6.55.02-AM.png 1186w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



Stock futures are largely flat despite escalating tensions between the United States and Israel versus Iran, amid Trump&#8217;s increasingly fiery rhetoric, stating that the U.S. knows exactly where Iran&#8217;s &#8220;Supreme Leader&#8221; was hiding, and adding that he was an &#8220;easy target,&#8221; in a Truth Social post on Tuesday.



See Also: <a href="https://www.benzinga.com/news/politics/25/06/45988135/bernie-sanders-slams-israels-illegal-attack-on-iran-says-absolutely-imperative-that-the-united-states-not-be-dragged-into-this-war">Bernie Sanders Slams Israel&#8217;s &#8216;Illegal&#8217; Attack On Iran, Says &#8216;Absolutely Imperative That The United States Not Be Dragged Into This War&#8217;</a>



In a subsequent post, Trump once again did not mince words and called for an &#8220;UNCONDITIONAL SURRENDER!&#8221; by Iran. This comes just a day after he said that a cease-fire between Israel and Iran was <a href="https://www.benzinga.com/markets/equities/25/06/45968002/trump-says-israel-iran-ceasefire-not-on-the-table-left-g7-early-for-a-much-bigger-reason-spy-qqq">not on the table</a>, and that he was seeking &#8220;a real end&#8221; to Iran&#8217;s nuclear issue.



<figure class="wp-block-image aligncenter size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="208" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/17212554/Screenshot-2025-06-18-at-6.55.41-AM-1024x208.png" alt="" class="wp-image-953127" style="width:615px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/17212554/Screenshot-2025-06-18-at-6.55.41-AM-1024x208.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/17212554/Screenshot-2025-06-18-at-6.55.41-AM-300x61.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/17212554/Screenshot-2025-06-18-at-6.55.41-AM-768x156.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/17212554/Screenshot-2025-06-18-at-6.55.41-AM.png 1184w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



Defense stocks and ETFs have continued to rally after hours, as tensions continued to escalate, with California-based Kratos Defense &amp; Security Solutions Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KTOS#NASDAQ">KTOS</a>), which provides defense engineering and communications solutions, rising 0.60% after hours.



Others, such as Israel&#8217;s Elbit Systems Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESLT#NASDAQ">ESLT</a>) and RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>), have rallied by 1.12%% and 0.60%, respectively, in after-hours trading.



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Stock</th><th class="has-text-align-center" data-align="center">After-Hours</th><th class="has-text-align-center" data-align="center">Month-To-Date</th><th class="has-text-align-center" data-align="center">Year-To-Date</th></tr></thead><tbody><tr><td>Elbit Systems Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESLT#NASDAQ">ESLT</a>)</td><td class="has-text-align-center" data-align="center">+1.12%</td><td class="has-text-align-center" data-align="center">+10.81%</td><td class="has-text-align-center" data-align="center">+73.00%</td></tr><tr><td>Kratos Defense &amp; Security Solutions Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KTOS#NASDAQ">KTOS</a>)</td><td class="has-text-align-center" data-align="center">+0.60%</td><td class="has-text-align-center" data-align="center">+17.18%</td><td class="has-text-align-center" data-align="center">+63.87%</td></tr><tr><td>Northrop Grumman Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>)</td><td class="has-text-align-center" data-align="center">+0.60%</td><td class="has-text-align-center" data-align="center">+3.96%</td><td class="has-text-align-center" data-align="center">+7.68%</td></tr><tr><td>RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>)</td><td class="has-text-align-center" data-align="center">+0.72%</td><td class="has-text-align-center" data-align="center">+8.79%</td><td class="has-text-align-center" data-align="center">+27.99%</td></tr><tr><td>Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>)</td><td class="has-text-align-center" data-align="center">+1.06%</td><td class="has-text-align-center" data-align="center">-0.63%</td><td class="has-text-align-center" data-align="center">-0.60%</td></tr></tbody></table></figure>



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td class="has-text-align-center" data-align="center">ETF</td><td class="has-text-align-center" data-align="center">Month-To-Date</td><td class="has-text-align-center" data-align="center">Year-To-Date</td></tr><tr><td class="has-text-align-center" data-align="center">Global X Defense Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHLD#NYSE">SHLD</a>)</td><td class="has-text-align-center" data-align="center">+3.03%</td><td class="has-text-align-center" data-align="center">+57.56%</td></tr><tr><td class="has-text-align-center" data-align="center">iShares U.S. Aerospace &amp; Defense ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>)</td><td class="has-text-align-center" data-align="center">+1.54%</td><td class="has-text-align-center" data-align="center">+24.24%</td></tr></tbody></table></figure>



Asian markets opened higher on Wednesday, with Japan&#8217;s Benchmark Nikkei 225 up 0.71% in early morning trade, at 38,808, with companies focused on the domestic market leading the way.



Brent crude oil futures are down 0.04%, trading at 76.40 a barrel, marking a steep 19% ascent since the beginning of this month, after hitting a 52-week low of $58.4 a barrel in early May.



The&nbsp;U.S. Dollar Index&nbsp;(DXY) is holding steady at 98.724, down 0.10%, even as volatilities and geopolitical risks continue to weigh.



Investors on Wednesday will be closely watching the outcome of the FOMC meeting, followed by a press conference by Federal Reserve Chair Jerome Powell. Investors will also be keenly eyeing the Initial Jobless Claims, Housing Starts, and Building Permit reports during the day.



Photo Courtesy: Gumbariya on Shutterstock.com



Read More: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/06/45983526/trump-wants-an-end-not-a-ceasefire-for-the-israel-iran-war-what-that-means-for-etfs">Trump Wants &#8216;An End, Not a Ceasefire&#8217; For The Israel-Iran War: What That Means For ETFs</a></li>
</ul>

Trump Demands Iran's 'Unconditional Surrender' — Stock Futures Remain Steady, Defense Shares Trade Higher In After-Hours Trading

Cathie Wood-led Ark Invest made significant trades on Tuesday, focusing on Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Taiwan Semiconductor Manufacturing Co., Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), and Circle Internet Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRCL#NYSE">CRCL</a>). These trades reflect Ark&#8217;s strategic positioning in the tech sector amidst market fluctuations.



The AMD Trade: On Tuesday, Ark Invest&#8217;s ARK Next Generation Internet ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#BATS">ARKW</a>) fund acquired 37,377 shares of Advanced Micro Devices. This purchase aligns with AMD&#8217;s recent market momentum, driven by speculation of a potential &#8220;GPU win&#8221; with Amazon Web Services and a <a href="https://www.benzinga.com/trading-ideas/movers/25/06/45978843/amd-stock-is-up-10-this-week-whats-going-on">positive rating</a> from Piper Sandler. The analyst, Harsh Kumar, maintained an &#8220;Overweight&#8221; rating and increased AMD&#8217;s price target to $140, citing the company&#8217;s product launches and expected growth in AI. The shares closed at $128.10, making the trade worth approximately $4.75 million. 



The TSMC Trade: The ARK Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#BATS">ARKK</a>) fund purchased 36,913 shares of Taiwan Semiconductor Manufacturing on the same day. TSM shares closed at $213.90 on Tuesday. The Ark transaction was valued at $7.9 million.



TSM is <a href="https://www.benzinga.com/markets/tech/25/06/45953943/taiwan-semiconductor-eyes-rollout-of-2nm-advanced-tech-chips-this-year">advancing its 2-nanometer technology</a>, aiming for commercialization in the latter half of 2025. This move is part of TSM&#8217;s strategy to maintain its competitive edge over rivals like Samsung Electronics. The acquisition reflects Ark&#8217;s confidence in TSM&#8217;s technological advancements and market potential. 



The Circle Internet Trade: Ark Invest&#8217;s funds, including Ark Fintech Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#BATS">ARKF</a>), ARKK, and ARKW, collectively sold a substantial number of shares in Circle Internet, totaling 300,108 shares. On Tuesday, Circle Internet shares ended the day at $149.15, making the Ark Transaction on the day worth $44.8 million.



Circle, known for issuing the USDC stablecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>), has <a href="https://www.benzinga.com/trading-ideas/movers/25/06/45955267/circle-internet-group-crcl-stock-hits-new-highs-whats-going-on">seen its stock soar</a> since its IPO on June 5, 2025. The stock&#8217;s initial pricing at $31 surged to $83.23 on its first trading day, continuing to attract investor interest. This sale could indicate a strategic reallocation of Ark&#8217;s investment portfolio. Notably, on Monday, Wood had <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/06/45964983/cathie-woods-monday-shuffle-buys-nvidia-sells-meta-ark-also-dumps-hot-circle-stock">sold $43.6 million</a> worth of Circle shares.



Other Key Trades:



<ul class="wp-block-list">
<li>eToro Group Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETOR#NASDAQ">ETOR</a>): ARKF purchased 35,461 shares.</li>



<li>Airbnb Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABNB#NASDAQ">ABNB</a>): ARKK acquired 59,115 shares.</li>



<li>DoorDash Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DASH#NYSE">DASH</a>): ARKF and ARKW collectively bought 17,828 shares.</li>



<li>Shopify Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>): ARKW added 21,277 shares to its holdings.</li>
</ul>



Photo Courtesy: Ira Lichi On Shutterstock.com



Read Next: 



<ul class="wp-block-list">
<li><a href="https://benzinga.com/crypto/cryptocurrency/25/06/45933322/bitcoin-ethereum-xrp-dogecoin-weekend-rally-100k-lows" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, XRP, Dogecoin Drop Further — Traders Eye Weekend Rally Before Retest Of $100K Lows</a></li>
</ul>



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

$USDC

ABNB

ARKF

ARKK

ARKW

CRCL

DASH

ETOR

SHOP

Cathie Wood Splashes $12.7 Million On Chip Giants AMD And Taiwan Semiconductors, Ark Dumps Another $45 Million Worth Of Hot Circle Stock

As world leaders convened in Canada for the G7 summit to debate economic cooperation, U.S. President Donald Trump suddenly hijacked the headlines by <a href="https://www.benzinga.com/markets/equities/25/06/45968002/trump-says-israel-iran-ceasefire-not-on-the-table-left-g7-early-for-a-much-bigger-reason-spy-qqq-dip-in-premarket-oil-climbs">cutting his G7 visit short </a>and boarding Air Force One to tackle what he described as a much more pressing issue: stopping Iran&#8217;s nuclear pursuits once and for all. With Israel having struck deep inside Iranian territory and Tehran threatening retaliation, investors now prepare themselves for the <a href="https://www.benzinga.com/etfs">ETF</a>-level consequences of a protracted geopolitical crisis.



<h2 class="wp-block-heading">What Happened</h2>



Trump emphatically brushed aside proposals for a ceasefire between Iran and Israel, instead calling for &#8220;an end. A real end. Not a ceasefire. An end.&#8221; The statement, made en route to Washington, was immediately seen by markets as a possible ratcheting up of an already tense conflict. 



And while global equities have been fairly stable, activity below the surface is very different: energy, defense, and gold ETFs are flashing new risk signs.



<h2 class="wp-block-heading">Energy ETFs Respond To Oil Supply Threats</h2>



With the flagship Bazan oil refinery closing after deadly missile attacks by Iran, and concerns building over possible disruptions to Iranian oil exports or shipping through the Strait of Hormuz, <a href="https://www.benzinga.com/markets/commodities/25/06/45965846/israel-is-pounding-irans-energy-infrastructure-and-its-sending-these-oil-etfs-soaring-but-it-maybe-bad-news-at-the-gas-pump">energy-linked ETFs are picking up steam</a>.



Securities such as the Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) and the Vanguard Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VDE#NYSE">VDE</a>) experienced small inflows for the week as oil prices ticked higher on supply worries. United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>), a direct play on crude futures, also experienced increased volume, and the fund is up around 5% as of Tuesday afternoon.



<h2 class="wp-block-heading">Defense ETFs Get A War-Posture Boost</h2>



Trump&#8217;s comments, combined with the deployment of U.S. military, specifically, the Middle East-bound USS Nimitz aircraft carrier battle group, has strengthened sentiment behind defense and aerospace stocks.



iShares U.S. Aerospace &amp; Defense ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>) and SPDR S&amp;P Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XAR#NYSE">XAR</a>) both were up moderately after the president&#8217;s statements. Leveraged vehicles such as Direxion Daily Aerospace &amp; Defense Bull 3X Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFEN#NYSE">DFEN</a>) also gained interest.



<h2 class="wp-block-heading">Safe Havens Shine As Diplomatic Channels Fade</h2>



Gold ETFs, traditionally the &#8220;nuclear fallout shelter&#8221; of international finance, are getting some life after a slow spring. Trump&#8217;s &#8220;not in the mood to negotiate&#8221; refrain coupled with tweets threatening strikes on Tehran revived safe-haven demand.



Since Friday, the iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>) and SPDR Gold Shares ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) have seen modest but consistent inflows.



The G7 walkout sent a message to markets that this administration isn&#8217;t pivoting, it&#8217;s running away from diplomacy. Even if risk assets aren&#8217;t pricing in disaster, safe-haven ETFs are quietly getting ready for one.



Also Read: <a href="https://www.benzinga.com/etfs/specialty-etfs/25/06/45939307/are-gold-etfs-really-a-hedge-during-a-geopolitical-crisis-heres-what-to-check-before-investing">Are Gold ETFs Really A Hedge During A Geopolitical Crisis? Here&#8217;s What To Check Before Investing</a>



<h2 class="wp-block-heading">Middle East ETFs Navigate Uncertain Course</h2>



Regional funds could suffer devastating fallout if the conflict escalates. ETFs such as WisdomTree Middle East Dividend Fund (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GULF#NASDAQ">GULF</a>) and iShares MSCI Frontier and Select EM ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FM#NYSE">FM</a>) have minimal direct exposure to Iran but could still lose out on general capital outflow in the face of geopolitical volatility.



<h2 class="wp-block-heading">Conclusion: An Endgame Without An Exit Strategy</h2>



Markets can typically absorb tension, but they have trouble with open-ended uncertainty. Keywords like &#8220;not a ceasefire,&#8221; &#8220;an end,&#8221; and the like give investors little hints of how this war could end and at what cost markets could eventually pay.



For the time being, ETFs are where the market is subtly voting on what lies ahead, and the early indicators are that it&#8217;s gearing up for a rough ride.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/06/45978750/why-smart-money-is-spreading-out-etf-flows-signal-surge-in-portfolio-diversification">Why Smart Money Is Spreading Out: ETF Flows Signal Surge In Portfolio Diversification</a></li>
</ul>



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Trump Wants 'An End, Not a Ceasefire' For The Israel-Iran War: What That Means For ETFs

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