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



Here are the highlights.



What Happened: Amazon reported second-quarter net sales of $167.7 billion, up 13% year-over-year. The net sales total beat a Street consensus estimate of $161.9 billion according to data <a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0731">from Benzinga Pro.</a>



Sales were broken down as follows:



<ul class="wp-block-list">
<li>North America: $100.1 billion, +11% year-over-year</li>



<li>International: $36.8 billion, +16% year-over-year</li>



<li>AWS: $30.9 billion, +17.5% year-over-year</li>
</ul>



The company reported quarterly earnings per share of $1.68, beating a Street estimate of $1.30.



Operating income for the company was $19.2 billion, which was broken down by segment:



<ul class="wp-block-list">
<li>North America: $7.5 billion</li>



<li>International: $1.5 billion</li>



<li>AWS: $10.2 billion</li>
</ul>



The company said it had its biggest Prime Day event ever in the quarter, with independent sellers seeing record sales.



Amazon highlighted its DeepFleet AI model that helps Amazon's robots work smarter and improve efficiency.



In the entertainment sector, Amazon highlighted its NBA broadcast team for upcoming coverage of basketball and the fact that its NASCAR races are averaging two million viewers per race and the youngest audience among NASCAR broadcasts in over a decade.



"Our conviction that AI will change every customer experience is starting to play out as we've expanded Alexa+ to millions of customers, continue to see our shopping agent used by many millions of customers, launched AI models like DeepFleet," Amazon CEO Andy Jassy said. "Our AI progress across the board continues to improve our customer experiences, speed of innovation, operational efficiency, and business growth, and I'm excited for what lies ahead."



Read Also: <a href="https://www.benzinga.com/markets/tech/25/07/46760627/magnificent-seven-microsoft-meta-nvdia-earnings-sp500-market-cap">Magnificent Seven Now Worth Over $19 Trillion—And They Make Up 35% Of The S&amp;P 500</a>



What's Next: The company expects third quarter net sales to come in a range between $174.0 billion and $179.5 billion, versus a Street estimate of $172.8 billion, according to data from Benzinga Pro. This range represents year-over-year growth of 10% to 13%.



The company expects operating income for the third quarter to be in a range of $15.5 billion to $20.5 billion, compared to $17.4 billion in the third quarter of 2024.



AMZN Price Action: Amazon stock is down 2.4% to $228.55 in after-hours trading Thursday versus a 52-week trading range of $151.61 to $242.52.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/07/46697035/amazon-denies-raising-prices-due-to-trump-tariffs-consistently-offering-customers-low-prices-every-day">Amazon Denies Raising Prices Due To Trump &amp; Tariffs: &#8216;Consistently Offering Customers Low Prices Every Day&#8217;</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="Amazon.com Earnings Call Q2 2025 &#x7C; $AMZN &#x7C; &#x1f534; WATCH LIVE" width="500" height="281" src="https://www.youtube.com/embed/1sKsiy7lg6U?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>



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Amazon Q2 Earnings Highlights: Double Beat, 'AI Progress Across The Board Continues'

Wall Street's most powerful tech giants are rewriting the <a href="http://www.benzinga.com/topic/magnificent-seven">rules of market dominance</a>.



What Happened: The so-called Magnificent Seven tech giants surged to a record-breaking $19.4 trillion in combined market value Thursday morning. This latest surge is reshaping the very structure of the S&amp;P 500—leaving investors stunned.



<ul class="wp-block-list">
<li>MAGS ETF is moving fast.<a href="https://www.benzinga.com/quote/MAGS"> Track live prices here</a>.</li>
</ul>



Indeed, <a href="https://www.benzinga.com/markets/market-summary/25/07/46759024/nasdaq-surges-over-1-microsoft-posts-upbeat-earnings">blowout earnings reports from</a> Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>) and Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) helped propel the overall valuation. 



The group—which also includes Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) and Tesla Inc., (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)—now makes up 35% of the S&amp;P 500's total value, a new all-time high for index concentration.



The combined market cap is now above China's entire economy, which was worth $18.7 trillion in 2024, according to the World Bank.



At $19.4 trillion, the group is nearly as large as the Eurozone and U.K. economies combined—$16.4 trillion and $3.6 trillion, respectively.



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><thead><tr><th>Company</th><th>Market Cap (USD)</th></tr></thead><tbody><tr><td>Nvidia Corp.</td><td>$4.42 trillion</td></tr><tr><td>Microsoft Corp.</td><td>$4.04 trillion</td></tr><tr><td>Apple Inc.</td><td>$3.12 trillion</td></tr><tr><td>Amazon.com Inc.</td><td>$2.47 trillion</td></tr><tr><td>Alphabet Inc.</td><td>$2.35 trillion</td></tr><tr><td>Meta Platforms Inc.</td><td>$1.97 trillion</td></tr><tr><td>Tesla Inc.</td><td>$1.03 trillion</td></tr></tbody></table></figure>



<h2 class="wp-block-heading">AI Tailwind Fuels Microsoft, Meta</h2>



Shares of Meta Platforms rallied over 12% during Thursday&#8217;s morning trading in New York, while Microsoft rose 6%, with the latter topping $4 trillion value for the first time. 



Microsoft's gains were driven by robust AI momentum. 



Goldman Sachs analyst Kash Rangan said the company's performance "validates our thesis that AI percolates up the stack." 



He highlighted that Azure Databricks and OpenAI use cases are scaling rapidly, while CapEx surged 58% to over $88 billion without eroding margins. 



He sees Microsoft "well-positioned to capitalize on this shift and drive earnings reacceleration." to drive another cycle of earnings reacceleration, citing upside from OpenAI revenue sharing and cross-selling across its ecosystem.



Goldman Sachs raised Microsoft&#8217;s 12-month price target from $550 to $630, implying a 17% surge from current levels.



Bank of America's Brad Sills echoed that view, calling Microsoft a clear "AI beneficiary" across infrastructure and applications. He raised the firm's price objective to $640 from $515.



Meta's stock also climbed following its earnings beat and strong guidance. 



Goldman Sachs analyst Eric Sheridan said AI is driving upside in ad engagement, monetization and operating performance. 



"Instagram video watch time is up 20% YoY globally, and AI ad tools like Advantage+ are scaling fast," he said, highlighting the company's resilience even as expenses rise.



Goldman raised Meta&#8217;s 12-month price target from $775 to $830, stating that "visibility into 2026 and beyond topline growth will be critical" as Meta invests in long-term initiatives like its Superintelligence Lab and spatial computing projects.



Bank of America's Justin Post also remained bullish, saying Meta's growing ad capabilities and AI strength "reinforce our confidence" in the stock's long-term trajectory.



Now Read:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/economic-data/25/07/46755543/inflation-pce-june-tariffs-trump-powell-interest-rates">Trump&#8217;s Inflation Honeymoon Is Over—And Powell&#8217;s Patience Pays Off </a></li>
</ul>



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Magnificent Seven Now Worth Over $19 Trillion—And They Make Up 35% Of The S&P 500

After focusing on earnings for the bulk of last week, we're going to shift gears a bit today. This week, the spotlight is on implied volatility (IV) and, more importantly, five stocks poised to explode in the next week.



We've discussed IV quite often and how, in many cases, it's easier to track than the price itself. And right now, it's where some of the best trading setups of the summer are hiding.



<h2 class="wp-block-heading">5 Dark Horse Stocks Most Investors Aren't, But Should Be, Following </h2>



Every Friday, five overlooked stocks land on our ‘Whisper Index', such as Coinbase before it surged 245% higher. And the biotech breakthrough, Insmed, before it jumped 20% in a single month. Beat Wall Street to these next potential winners. Access the Whisper Index <a href="https://www.benzinga.com/premium/ideas/benzinga-edge/?">HERE</a>.



So today, I'm going to give you the five names flashing the biggest volatility spikes, and what I'd consider doing with each.



<h2 class="wp-block-heading">Molina Healthcare</h2>



Molina Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOH#NYSE">MOH</a>) has been getting crushed. It traded around $360 in mid-March, and now it's scraping along near $180. That's a 50% haircut. Most of the drop occurred after a gap down earlier this month, when volatility started to intensify. IV jumped from 37 to 65. That's a huge move for a healthcare name.



If I were to trade this, I'd be looking to sell premium, either through a credit spread or a naked option, depending on how aggressive I wanted to be. Either way, I'm not buying options here. They're way too expensive.



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



QuantumScape (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QS#NYSE">QS</a>) was a $4 stock not long ago, but now it's bouncing between $12 and $15. That alone tells you volatility is running hot. In fact, it doubled in a month: IV went from 60 to 140. It's come off a bit since then, but this one's still cooking.



If I were bullish, I'd look to sell puts or put spreads. If I were leaning bearish, call spreads would be the safer play. Either way, you want to take advantage of that pumped-up premium.



<h2 class="wp-block-heading">Joby Aviation</h2>



Joby Aviation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JOBY#NYSE">JOBY</a>) has been on a tear! It traded at $5 back in April and is now hovering around $18.22. The IV has ramped right alongside price, from 60 to 112.



Earnings are coming up on August 6, so we've got a little more time for that IV to climb. If this lines up with one of my bullish patterns, I'd probably go after a put credit spread, but I'm also open to fading it with a call spread if it starts to roll over. Again, selling premium is the play.



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



Centence (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNC#NYSE">CNC</a>) has been an absolute disaster. It was in the mid-$60s a few months ago and is now trading around $27.77. It's been getting chopped in half for weeks. IV followed that drop, climbing from 30 to a peak of 86. That's nearly triple the baseline.



If I saw a bearish setup, I'd be interested in selling call spreads. For a bullish bet, selling puts would make sense, but only if the charts agree.



<h2 class="wp-block-heading">UnitedHealth Group</h2>



UnitedHealth (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) is the one that really has my attention. The stock dropped from $600 in mid-April to $250 in mid-May. It has since clawed back to around $284, but it's still way off the highs.



IV spiked from 30 to 74 during that drop, and while it's come down, we're back in the high 40s now. This stock is in the spotlight for all the wrong reasons at the moment. And that works in the seller's favor by keeping premiums expensive, exactly what we want when selling options.



If I'm bullish, I'd be looking at selling put spreads after earnings. If the setup turns bearish, I'd flip the script and look at call spreads. Either way, the premium gives us room to work with.



The bottom line is that each of these names is showing a clear pattern: surging IV heading and inflated premiums that are pricing in major moves.



So, buying options into this kind of volatility? Not your best move under these circumstances. The edge here isn't in buying options—it's in selling premium while IV is elevated.



If you've got a bullish or bearish setup that fits one of these charts, this is your window. Just remember that high volatility won't stick around forever.



Time your entry. Know your risk. And don't overstay the trade.



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

JOBY

The 5 Most Volatile Stocks This Week And How To Trade Them

A post-earnings surge in Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>) sent major tech-heavy indices to fresh record highs Thursday, capping a fourth consecutive month of <a href="https://www.benzinga.com/markets/tech/25/07/46760627/magnificent-seven-microsoft-meta-nvdia-earnings-sp500-market-cap">gains for U.S. equities.</a>



By midday in New York, the S&amp;P 500 rose 0.7% to break above 6,400, while the Nasdaq 100 climbed past 24,500 — each logging new intraday highs.



Meta jumped 11% after delivering blockbuster second-quarter results and upbeat revenue guidance. Microsoft climbed about 5% after reporting strong Azure revenues.



The combined market value of the Magnificent Seven swelled past $19.4 trillion, with both Microsoft and Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) <a href="https://www.benzinga.com/markets/tech/25/07/46760627/magnificent-seven-microsoft-meta-nvdia-earnings-sp500-market-cap">worth more than $4 trillion</a>.



Indexes with less tech exposure lagged: the Dow Jones added just 0.1%, while the Russell 2000 slipped 0.1%.



The broader market surge came despite hotter-than-expected inflation data that supported the Federal Reserve's decision to keep interest rates steady in July.



The Personal Consumption Expenditures (PCE) price index rose to 2.6% in June from 2.3% in May, surpassing the 2.5% forecast. Core PCE, the Fed's preferred inflation gauge, held at 2.8%, <a href="https://www.benzinga.com/markets/economic-data/25/07/46755543/inflation-pce-june-tariffs-trump-powell-interest-rates">above the 2.7% consensus.</a>



Traders are now pricing in just a 39% chance of a rate cut in September, according to the CME FedWatch Tool, down from 65% earlier this week.



On trade, President Donald Trump announced a new 15% tariff on select South Korean imports, while a deal with Mexico was extended for another 90 days.



The U.S. dollar index gained 0.1%, aiming for its sixth straight daily gain and the longest winning streak since 2022. 



Commodities remained under pressure. Copper fell another 5% to $4.39 per pound, nearing April's lows after Wednesday's historic 19.4% drop triggered by tariff exemptions on refined copper.



Silver lost 1.3%, while gold edged up 0.5% to $3,290 per ounce. 



In crypto, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rose 0.9% to $118,871.



<h1 class="wp-block-heading">Thursday&#8217;s Performance In Major U.S. Indices, ETFs</h1>



<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>S&amp;P 500</td><td>6,406.83</td><td>0.7%</td></tr><tr><td>Nasdaq 100</td><td>23,495.60</td><td>0.7%</td></tr><tr><td>Dow Jones</td><td>44,550.87</td><td>0.2%</td></tr><tr><td>Russell 2000</td><td>2,229.94</td><td>-0.1 %</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 12:35 p.m. ET</figcaption></figure>



According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:



<ul class="wp-block-list">
<li>The&nbsp;Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) rose 0.6% to $586.59.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) inched 0.1% up to $444.99.</li>



<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;rose 0.5% to $570.89.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) eased 0.2% to $221.21.</li>



<li>The&nbsp;Communication Services&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) outperformed, up 1.6%; the&nbsp;Health Care&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) lagged, down 0.7%.</li>
</ul>



<h1 class="wp-block-heading">Thursday&#8217;s Stock Movers</h1>



Stocks moving on earnings reports included: 



<ul class="wp-block-list">
<li>Microsoft Corp. up 4.5%</li>



<li>Meta Platforms, Inc. up 12.3%</li>



<li>Mastercard Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>) up 3.0%</li>



<li>AbbVie Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) up 2.5%</li>



<li>S&amp;P Global Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPGI#NYSE">SPGI</a>) up 4.3%</li>



<li>QUALCOMM Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) down 6.2%</li>



<li>KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) down 2.4%</li>



<li>Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>) up 2.4%</li>



<li>Lam Research Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) down 4.5%</li>



<li>Intercontinental Exchange, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICE#NYSE">ICE</a>) up 0.4%</li>



<li>The Southern Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SO#NYSE">SO</a>) up 0.3%</li>



<li>Bristol-Myers Squibb Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) down 4.6%</li>



<li>Carvana Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>) up 18.2%</li>



<li>CVS Health Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) up 1.6%</li>



<li>Equinix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EQIX#NASDAQ">EQIX</a>) up 0.9%</li>



<li>The Cigna Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>) down 6%</li>



<li>Howmet Aerospace Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HWM#NYSE">HWM</a>) down 9.5%</li>



<li>Air Products and Chemicals, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APD#NYSE">APD</a>) down 0.6%</li>



<li>Quanta Services, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PWR#NYSE">PWR</a>) down 2.6%</li>



<li>Allstate Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) up 6.7%</li>



<li>Public Storage (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSA#NYSE">PSA</a>) down 4.8%</li>



<li>Exelon Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXC#NASDAQ">EXC</a>) up 1.1%</li>



<li>Ford Motor Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) up 2.5%</li>



<li>AMETEK, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AME#NYSE">AME</a>) up 5.9%</li>



<li>eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>) up 18.6%</li>



<li>Xcel Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XEL#NASDAQ">XEL</a>) up 1.5%</li>



<li>Prudential Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRU#NYSE">PRU</a>) up 3%</li>



<li>Cognizant Technology Solutions Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTSH#NASDAQ">CTSH</a>) up 0.1%</li>



<li>Vulcan Materials Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VMC#NYSE">VMC</a>) down 0.7%</li>



<li>VICI Properties Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VICI#NYSE">VICI</a>) up 1.5%</li>



<li>Xylem Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XYL#NYSE">XYL</a>) up 9.3%</li>



<li>Fair Isaac Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FICO#NYSE">FICO</a>) down 11.1%</li>



<li>DexCom, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXCM#NASDAQ">DXCM</a>) down 6.7%</li>



<li>Willis Towers Watson Public Limited Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WTW#NASDAQ">WTW</a>) up 5.0%</li>



<li>Blue Owl Capital Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OWL#NYSE">OWL</a>) down 0.7%</li>



<li>PG&amp;E Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCG#NYSE">PCG</a>) down 0.8%</li>



<li>Ventas, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTR#NYSE">VTR</a>) up 1.1%</li>



<li>Extra Space Storage Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXR#NYSE">EXR</a>) down 8.1%</li>



<li>Kellanova (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/K#NYSE">K</a>) up 0.1%</li>



<li>Albemarle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>) down 0.6%</li>



<li>American Water Works Company, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AWK#NYSE">AWK</a>) up 1.0%</li>



<li>AvalonBay Communities, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVB#NYSE">AVB</a>) down 2.9%</li>



<li>Western Digital Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>) up 8.7%</li>



<li>PPL Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPL#NYSE">PPL</a>) down 0.7%</li>



<li>PTC Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTC#NASDAQ">PTC</a>) up 7.6%</li>



<li>International Paper Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IP#NYSE">IP</a>) down 8.9%</li>



<li>Tyler Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TYL#NYSE">TYL</a>) up 4.9%</li>



<li>FirstEnergy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) up 1.5%</li>



<li>Invitation Homes Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INVH#NYSE">INVH</a>) down 0.7%</li>



<li>Biogen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>) up 1.8%</li>



<li>GFL Environmental Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GFL#NYSE">GFL</a>) up 5.6%</li>



<li>F5, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIV#NASDAQ">FFIV</a>) up 6.8%</li>



<li>Mid-America Apartment Communities, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAA#NYSE">MAA</a>) down 2.0%</li>



<li>Aptiv PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APTV#NYSE">APTV</a>) up 4.2%</li>



<li>Sprouts Farmers Market, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SFM#NASDAQ">SFM</a>) down 3.4%</li>



<li>Hologic, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOLX#NASDAQ">HOLX</a>) up 2.6%</li>



<li>Kimco Realty Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KIM#NYSE">KIM</a>) down 0.9%</li>



<li>Everest Group, Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EG#NYSE">EG</a>) up 2.0%</li>



<li>Masco Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAS#NYSE">MAS</a>) up 3.9%</li>



<li>XPO, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>) down 8.9%</li>



<li>UDR, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UDR#NYSE">UDR</a>) flat at -0.0%</li>



<li>C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>) up 17.1%</li>



<li>Builders FirstSource, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLDR#NYSE">BLDR</a>) down 2.8%</li>



<li>Baxter International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAX#NYSE">BAX</a>) down 19.1%</li>



<li>Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) up 8.9%</li>



<li>Host Hotels &amp; Resorts, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HST#NASDAQ">HST</a>) down 1.5%</li>



<li>Huntington Ingalls Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HII#NYSE">HII</a>) up 9.9%</li>



<li>Antero Resources Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AR#NYSE">AR</a>) up 2.7%</li>



<li>MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>) down 4.1%</li>
</ul>



Stocks slated to report earnings after the close include: Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), MercadoLibre, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MELI#NASDAQ">MELI</a>), Stryker Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYK#NYSE">SYK</a>), KLA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>), First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), Roper Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ROP#NYSE">ROP</a>), Monolithic Power Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MPWR#NASDAQ">MPWR</a>), Ingersoll Rand Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IR#NYSE">IR</a>), Eastman Chemical Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EMN#NYSE">EMN</a>), LPL Financial Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LPLA#NASDAQ">LPLA</a>), AES Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AES#NYSE">AES</a>), Vale S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VALE#NYSE">VALE</a>), The Clorox Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLX#NYSE">CLX</a>), Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), Roku, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>), Mettler-Toledo International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTD#NYSE">MTD</a>), Edison International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EIX#NYSE">EIX</a>), ResMed Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RMD#NYSE">RMD</a>), Arthur J. Gallagher &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AJG#NYSE">AJG</a>), Ameren Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEE#NYSE">AEE</a>), Essential Utilities, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WTRG#NYSE">WTRG</a>), Camden Property Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPT#NYSE">CPT</a>), Healthpeak Properties, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOC#NYSE">DOC</a>), Huntsman Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUN#NYSE">HUN</a>), Northern Oil and Gas, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOG#NYSE">NOG</a>), Park Hotels &amp; Resorts Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PK#NYSE">PK</a>), Procore Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCOR#NYSE">PCOR</a>), Rogers Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ROG#NYSE">ROG</a>), Ryan Specialty Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RYAN#NYSE">RYAN</a>), and Essex Property Trust, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>).



Read Now:



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<li><a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46733603/fed-holds-trump-powell-waller-bowman-interest-rates">Fed Skips Rate Cut Again—But Reveals Something We Haven&#8217;t Seen Since 1993</a></li>
</ul>



Photo: Shutterstock

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CMCSA

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EBAY

EQIX

FFIV

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FSLR

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VALE

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Meta, Microsoft Power Wall Street To New Records Despite Inflation Jump: What's Moving Markets Thursday?

The inflation lull that helped President Donald Trump keep pressure on the Federal Reserve is over as June's data show the tariffs are finally hitting consumer prices—and Fed Chair Jerome Powell was wise <a href="https://www.benzinga.com/topic/federal-reserve">to hold his ground.</a>



The most closely watched inflation gauge by the central bank, the Personal Consumption Expenditures (PCE) price index, jumped to 2.6% year-over-year, up from 2.3% in May and topping expectations of 2.5%. That's the highest annual rate since February.



Core PCE, which strips out food and energy and directly informs the Fed's rate decisions, held firm at 2.8%, unchanged from the upwardly revised May reading and above forecasts of 2.7%, underscoring the persistence of underlying inflation.



On a monthly basis, both headline and core inflation rose 0.3%, accelerating from 0.2% the prior month. 



These sequential increases suggest a broadening in price pressures, consistent with the delayed impact of tariffs imposed earlier this year.



<h3 class="wp-block-heading">Consumer Spending Still Strong, No Signs Of Stress From Labor Market</h3>



Despite hotter inflation, there's no evidence yet of weakening demand. 



Personal spending climbed 0.3% month-over-month, up from a flat reading in May, though slightly below the 0.4% forecast.



Personal income increased 0.3%, bouncing back from a 0.4% drop in May and beating expectations of a 0.2% gain, indicating that households remain in solid financial shape.



Weekly jobless claims came in at 218,000 for the week ending July 26, basically unchanged from the previous week and better than the 224,000 expected. Continuing claims also surprised to the downside at 1.946 million, below the forecast of 1.96 million.



The data reinforces Powell's argument that a "modestly restrictive" policy stance remains appropriate—and that the Fed was right not to pre-commit to a rate cut in September, despite relentless pressure from the White House.



For now, the Federal Reserve has room to breathe. But as the next rounds of jobs and inflation data approach, the case for easing—or staying put—will only grow more complex.



Following Thursday's hotter-than-expected PCE inflation report, markets now assign just a 39% chance of a September rate cut—down sharply from 65% before the Fed's decision on Wednesday.



The U.S. dollar index – as tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) – has rallied for five straight sessions thus far. Another gain today would extend the longest winning streak since August 2023.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46736975/powell-holds-rates-copper-crashes-after-tariff-change-trump">Powell Puts Breaks On September Rate Cut—And Trump Triggers A Metal Market Crash </a></li>
</ul>



Photo: Shutterstock

Currency ETFs

Forex

Federal Reserve

Trump's Inflation Honeymoon Is Over—And Powell's Patience Pays Off

Just when the copper code had been cracked by traders (or so they thought), <a href="https://www.benzinga.com/topic/donald-trump">President Donald Trump</a>&#8216;s tariff surprise slammed copper prices, and in turn <a href="https://www.benzinga.com/etfs">copper ETFs</a>, into a loss spiral, resulting in a path of losses, confusion, and a storage facility full of losing wagers.



<h2 class="wp-block-heading">The Shock Tariff Move</h2>



In a shocking move this week, Trump rolled out a 50% tariff on semi-finished copper products. But here&#8217;s the twist: refined copper was exempt. That seemingly minor carve-out caused a massive shock wave through global copper markets. Why? Because traders had front-loaded U.S. imports of refined copper, anticipating broader tariffs. The tariff they received? A curveball that punished their positioning.



<h2 class="wp-block-heading">Copper Prices Collapse, CPER Gets Crushed</h2>



With refined copper exempt, the demand for domestic alternatives evaporated almost overnight. U.S. copper futures on the Comex exchange plummeted over 17%, wiping out the premium they held over London's benchmark. The United States Copper Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPER#NYSE">CPER</a>), which tracks front-month Comex copper futures, bore the brunt, falling more than 19% in the after-hours trading session on Wednesday.



Prior to the announcement, importers had amassed refined copper anticipating across-the-board hostile tariffs on all types of the metal. The plan? Take advantage of tariff-driven price premiums. But with refined copper exempted, warehouses are now storing overpriced copper that&#8217;s losing value at a fast clip. Experts estimate hundreds of millions in losses as traders rush to sell overstock at depressed prices.



<h2 class="wp-block-heading">The ETF Fallout</h2>



Outside of CPER, several other copper-exposed ETFs caught some pain:



Global X Copper Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COPX#NYSE">COPX</a>): Off about 3% as big holdings such as Freeport-McMoRan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) and Hudbay Minerals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HBM#NYSE">HBM</a>) declined.



SPDR S&amp;P Metals &amp; Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>): Dropped due to overall weakness in U.S.-based metal producers.



iShares MSCI Global Metals &amp; Mining Producers ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/PICK#BATS">PICK</a>): Lost ground on the back of global mining names with U.S. export exposure.



<h2 class="wp-block-heading">Arbitrage Dreams Dashed</h2>



Traders had been making money from arbitrage between LME prices and Comex for months. The U.S. premium, constructed on anticipated tariffs, <a href="https://www.benzinga.com/markets/commodities/25/07/46750963/copper-arbitrage-disappears-after-trumps-tariff-surprise">disappeared almost overnight</a>, gutting arbitrage and turning bullish positions into losers. Funds tracking the LME, insulated to some extent from U.S. politics, now appear reasonably stable by comparison.



Read Next:<a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/07/46726348/trump-inflation-president-of-the-free-world-investors-run-for-cover"> </a>



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/07/46726348/trump-inflation-president-of-the-free-world-investors-run-for-cover">Trump, &#8216;Inflation President&#8217; Of The Free World—Investors Run For Cover</a></li>
</ul>



Photo: Shutterstock

Specialty ETFs

COPX

CPER

PICK

The $5 Billion Copper Trap: How One ETF Got Burned By Trump's Surprise Tariff Move

Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) just dropped a <a href="https://www.benzinga.com/quote/META/earnings">blowout second quarter</a> — but the real headline isn't the numbers, it's the algorithm. According to JPMorgan's Doug Anmuth, Meta's AI isn't just writing code or generating Llama buzz. It's quietly monetizing user attention and paying for the next leap: Superintelligence.



Track META stock&#8217;s post-earnings move <a href="https://www.benzinga.com/quote/META">here</a>.



<h2 class="wp-block-heading">AI That Converts While You Scroll</h2>



Meta's second-quarter revenue surged 22%, powered by a sharp uptick in ad pricing (+9%) and impressions (+11%). At the core of this momentum are Meta's AI ranking tools — Andromeda, GEM, and Lattice — which are optimizing ad delivery across Instagram and Facebook, noted Anmuth. GEM alone boosted conversions by 5% on Instagram (IG); Lattice lifted Facebook (FB) conversions by 4%. Time spent watching video on IG and FB also jumped more than 20% year-over-year, thanks to smarter feed curation.



Read Also: <a href="https://www.benzinga.com/markets/tech/25/07/46750637/chamath-palihapitiya-laid-out-a-short-case-against-meta-alphabet-in-2020-both-have-since-rallied-over-160">Chamath Palihapitiya Laid Out A Short Case Against Meta, Alphabet In 2020—Both Have Since Rallied Over 160%</a>



Despite a bumpy rollout of Llama 4 and some AI team reshuffling, Meta's ad engine didn't flinch. Advantage+, its automated ad platform, drove stronger-than-expected returns, and Asia-based advertisers came roaring back. The result: a business that's humming, even as the spotlight shifts to AGI ambitions.



<h2 class="wp-block-heading">Super Capex For Superintelligence</h2>



While AI is monetizing today's engagement, Meta is prepping for something bigger — and much more expensive. Management hinted at a jaw-dropping $100 billion capex target in 2026, up sharply from this year's $66 billion–$72 billion. That investment will go toward compute-heavy infrastructure to support its vision of personal superintelligence.



For now, Meta's strong ad business gives it the financial runway to spend aggressively. But as Anmuth notes, the company remains compute-constrained and is eyeing co-development partnerships to stay flexible. Investors are rewarding the monetization story, but the stakes are rising fast.



If Meta's AI can keep converting engagement into dollars, it might just earn the right to chase the future.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/07/46748308/chamath-palihapitiya-weighs-in-on-metas-ai-ambitions-as-energy-bottlenecks-emerge-as-the-true-limiter">Chamath Palihapitiya Weighs In On Meta&#8217;s AI Ambitions As Energy Bottlenecks Emerge As The True Limiter</a></li>
</ul>



Photo: Shutterstock

Long Ideas

Social Media

General

Meta's AI Isn't Just Smart — It's Paying The Bills

Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>) reported better-than-expected <a href="https://www.benzinga.com/pressreleases/25/07/b46751526/comcast-reports-2nd-quarter-2025-results">second-quarter results</a> on Thursday, driven by steady execution across its media, connectivity, and theme park businesses. 



The Philadelphia-based company reported a quarterly growth of 2.1% year-over-year (Y/Y) to $30.31 billion, beating the <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">analyst consensus estimate</a> of $29.80 billion. 



Adjusted earnings per share came in at $1.25, beating analyst consensus estimates of $1.17. Its media segment posted revenue growth of 1.8% Y/Y to $6.44 billion.



Also Read: <a target="_blank" href="https://www.benzinga.com/markets/large-cap/25/07/46488931/comcast-hikes-peacock-prices-again-will-you-pay-11-a-month-for-ads" rel="noreferrer noopener">Comcast Hikes Peacock Prices Again: Will You Pay $11 A Month For Ads?</a>



Peacock&#8217;s paid subscribers remained steady quarter-over-quarter (Q/Q) at 41 million despite a seasonally light sports quarter, driven in part by the success of Love Island USA, while revenue grew by 18% Y/Y to $1.2 billion.



Studios&#8217; revenue increased by 8.0% Y/Y to $2.43 billion, primarily due to higher content licensing and theatrical revenue due to the successful performance of recent releases, including&nbsp;How to Train Your Dragon.



Theme Parks revenue increased by 18.9% Y/Y to $2.35 billion due to higher revenue at domestic theme parks, including the successful opening of Epic Universe, and international theme parks, which include the positive impact from foreign currency.



Connectivity &amp; Platforms adjusted EBITDA grew 0.5% Y/Y to $8.53 billion, with a margin decline of 10 bps to 41.8%.



Comcast said it generated $4.50 billion in free cash flow during the quarter. The company paid dividends totaling $1.2 billion and repurchased 49.3 million of its shares for $1.7 billion, resulting in a total return of capital to shareholders of $2.9 billion.



Despite these gains, Comcast continued to face headwinds in its core broadband and pay-TV segments. The company lost 226,000 broadband customers during the quarter, reflecting mounting pressure from telecom rivals. AT&amp;T (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) and Verizon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) reported <a href="https://www.benzinga.com/markets/earnings/25/07/46570015/atts-discount-bundles-fuel-subscriber-gains-tax-savings-to-supercharge-fiber-expansion">401,000</a> and <a href="https://www.benzinga.com/markets/earnings/25/07/46518842/verizons-premium-plans-drive-higher-profit-projections-after-solid-quarter">293,000</a> broadband net additions, respectively.



Comcast also lost 325,000 video subscribers as consumers continued to shift to streaming platforms like Netflix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>). Total domestic wireless line net additions reached 378 thousand.



Comcast Chairman and CEO Brian L. Roberts highlighted strong quarterly performance, citing a 3% rise in adjusted EPS and $4.5 billion in free cash flow. He emphasized early gains from Comcast&#8217;s new residential broadband strategy and celebrated the wireless segment&#8217;s best-ever quarter with 378,000 new lines added. Roberts also noted mid-single-digit growth in revenue and adjusted EBITDA for Business Services.



In the Content and Experiences segment, Roberts pointed to 6% revenue growth, driven by the launch of Epic Universe, which boosted traffic at Universal Orlando Resort. He also credited Peacock&#8217;s momentum to premium content and live sports, and said the upcoming addition of NBA coverage will strengthen its market position.



Price Action: Comcast stock was trading higher by 3.73% to $33.71 premarket at last check Friday.



Read Next:



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<li><a href="https://www.benzinga.com/analyst-stock-ratings/reiteration/25/07/46734079/whats-fueling-paypals-post-earnings-skepticism" target="_blank" rel="noreferrer noopener">What&#8217;s Fueling PayPal&#8217;s Post-Earnings Skepticism?</a></li>
</ul>



Photo via Shutterstock

News

NFLX

Comcast Rides High On Theme Park And Studio Success

Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) added over $400 billion in market capitalization after reporting robust earnings results on Wednesday, powered by artificial intelligence progress and roadmap, which is more than several big companies listed on the stock exchanges.



Check out <a href="https://www.benzinga.com/quote/MSFT">MSFT</a> and <a href="https://www.benzinga.com/quote/META">META</a> stock prices here. 



What Happened: Satya Nadella-led Microsoft soared after reporting its results during after-hours on Wednesday, adding nearly $265 billion, whereas Mark Zuckerberg&#8216;s Meta Platforms also rallied after its results, adding nearly $175 billion in investor wealth.



These Magnificent 7 companies together gained about $440 billion in market capitalization, which compares to the total market cap of $503.19 billion of another Big Tech firm, Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>).



This single-day after-hours addition of $440 billion surpassed the market cap of big U.S. firms like Costco Wholesale Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>) at $411.32 billion, Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) at $402.81 billion, Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) at $374.30 billion and Home Depot Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) at $370.19 billion.



In fact, only 20 firms worldwide had a market cap of over $440 billion according to the data by companiesmarketcap.com.



<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">Insane that MSFT and META together went up after-hours more than the entire market cap of Europe. <a href="https://t.co/culmVOxvLy">https://t.co/culmVOxvLy</a>&mdash; Steve Hou (@stevehou0) <a href="https://twitter.com/stevehou0/status/1950681575483420758?ref_src=twsrc%5Etfw">July 30, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



See Also:&nbsp;<a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46513468/bitcoin-miner-iren-could-surge-1572-as-sotp-valuation-pegs-300-target-hedge-fund-manager-eric-jackson-says-were-cooking-with-gas" target="_blank" rel="noreferrer noopener">Bitcoin Miner IREN Could Surge 1,572% As SOTP Valuation Pegs $300 Target — Hedge Fund Manager Eric Jackson Says, ‘We're Cooking With Gas'</a>



Why It Matters: These hyperscalers, operating massive and highly scalable data centers to deliver cloud computing and other digital services worldwide, while leveraging AI, have led to a positive outlook by investors and experts alike.



Meta reported <a href="https://www.benzinga.com/markets/earnings/25/07/46739277/meta-beats-q2-earnings-estimates-issues-strong-guidance-shares-surge-to-new-highs">second-quarter</a> revenue of $47.52 billion, beating estimates of $44.58 billion, with earnings of $7.14 per share versus expectations of $5.79. 



Microsoft reported <a href="https://www.benzinga.com/markets/earnings/25/07/46738585/microsoft-q4-earnings-highlights-double-beat-ceo-says-cloud-and-ai-is-the-driving-force">fourth-quarter</a> revenue of $76.44 billion, exceeding the $73.80 billion estimate, with EPS of $3.65 compared to $3.37 expected. 



Wedbush Securities&#8217; Daniel Ives also hailed the earnings by these technology giants and said that their results validated his &#8220;AI Revolution bull thesis into next few years.&#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">There are some moments that will remembered in the market for many years&#8230;last night was one of them with the eye popping results from Microsoft and Meta. These massive results seen by Microsoft and Meta further validate our AI Revolution bull thesis into next few years &#x1f525;&#x1f3c6;&#x1f402;&#x1f37f;&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1950861493005611411?ref_src=twsrc%5Etfw">July 31, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



CNBC&#8217;s &#8216;Mad Money&#8217; host Jim Cramer, who began his career at Goldman Sachs more than four decades ago, compared his early impression of Wall Street talent to<a href="https://www.benzinga.com/markets/tech/25/07/46747314/jim-cramer-says-zuckerberg-and-nadella-are-smarter-than-his-once-admired-goldman-sachs-my-head-is-spinning-after-meta-microsoft-earnings"> Zuckerberg, Nadella,</a> and their tech executives. 



&#8220;When I went to work at Goldman Sachs 43 years ago, I thought everyone was so darned smart. They were. But not at the level of a Zuckerberg or a Nadella,&#8221; he said.



&#8220;My head is spinning as I try to take in what they teach. They are extraordinary,&#8221; he added.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">When I went to work at Goldman Sachs 43 years ago i thought everyone was so darned smart. They were. But not at the level of a Zuckerberg or a Nadella. My head is spinning as i try to take in what they teach. They are extraordinary. Li and Hood are no slouches. So damn proud!&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1950712861308719445?ref_src=twsrc%5Etfw">July 31, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Price Action: Shares of Microsoft jumped by 8.64% in premarket on Thursday, while Meta soared by 12.12%.



MSFT had gained 22.61% on a year-to-date basis, while it was up 22.68% over the past year. Meta, on the other hand, was up 16.02% YTD and 46.41% over a year.



Benzinga's Edge Stock Rankings indicate that MSFT maintains a strong momentum across the short, medium, and long term. However, the stock scores poorly on value rankings. Additional performance details are <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here</a>.



<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="153" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/31070833/edge-jul-31-msft-1024x153.png" alt="" class="wp-image-1008864" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/31070833/edge-jul-31-msft-1024x153.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/31070833/edge-jul-31-msft-300x45.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/31070833/edge-jul-31-msft-768x115.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/31070833/edge-jul-31-msft.png 1281w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



Benzinga's Edge Stock Rankings indicate that META also maintains a strong price trend across the short, medium, and long term. However, the stock scores badly on value rankings as well. Additional performance details are <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here</a>.



<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="157" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/31070821/edge-jul-31-meta-1024x157.png" alt="" class="wp-image-1008862" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/31070821/edge-jul-31-meta-1024x157.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/31070821/edge-jul-31-meta-300x46.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/31070821/edge-jul-31-meta-768x118.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/31070821/edge-jul-31-meta.png 1290w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, were higher in premarket on Thursday. The SPY was up 0.93% at $640.35, while the QQQ advanced 1.36% to $575.76, 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/hedge-funds/25/07/46687204/warren-buffett-has-56-of-his-258-billion-portfolios-value-exposed-to-ai-here-are-the-5-stocks-that-are-leveraging-ai-within-berkshires-holdings" target="_blank" rel="noreferrer noopener">Warren Buffett Has 56% Of His $258 Billion Portfolio's Value Exposed To AI: Here Are The 5 Stocks That Are Leveraging AI Within Berkshire's Holdings</a></li>
</ul>



Image Credit: Imagn Images

COST

PLTR

Microsoft, Meta Stocks Add $440 Billion In A Day—Nearly Matching Netflix's Entire $503 Billion Market Cap

U.S. stock futures rose on Thursday after ending on a mixed note on Wednesday. Futures of major benchmark indices were higher, except for the small-cap gauge Russell 2000.



President Donald Trump announced on Wednesday that the United States has reached a "<a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46744534/trump-pleased-with-450b-south-korea-tariff-deal-seoul-to-accept-us-cars-agriculture-economist-warns-americans-pay-the-15-tariff">Full and Complete Trade Deal</a>" with the Republic of Korea, worth $450 billion.



Jerome Powell announced the Federal Reserve Open Market Committee&#8217;s decision to keep the interest rates unchanged on Wednesday, with Michelle Bowman and Christopher Waller <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46733603/fed-holds-trump-powell-waller-bowman-interest-rates">dissenting the decision</a>. This was the first dual dissent from Fed board members since 1993. 



Apart from this, Wall Street is also bracing itself as the tech giants, Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) will be reporting earnings today.



Meanwhile, the 10-year Treasury bond yielded 4.36% and the two-year bond was at 3.93%. 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 59% likelihood of the Federal Reserve keeping the current interest rates unchanged for the Sept. 17 decision. 



<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>0.39%</td></tr><tr><td>S&amp;P 500</td><td>1.00%</td></tr><tr><td>Nasdaq 100</td><td>1.34%</td></tr><tr><td>Russell 2000</td><td>-0.17%</td></tr></tbody></table></figure>



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, were higher in premarket on Thursday. The SPY was up 1.10% at $640.85&nbsp;\, while the QQQ advanced 1.38% to $575.87, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From Last Session:



On Wednesday, information technology and utilities stocks bucked the overall market trend, closing the session higher, while materials, real estate, and energy stocks recorded the biggest losses among S&amp;P 500 sectors.



U.S. stocks settled lower overall, after Federal Reserve Chair Powell stated &#8220;no decision&#8221; had been made on a September rate cut.



Individually, Wingstop Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WING#NASDAQ">WING</a>) shares jumped around 27% after reporting better-than-expected second-quarter EPS and sales. Conversely, Avis Budget Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAR#NASDAQ">CAR</a>) fell 15% following worse-than-expected quarterly EPS and sales.



On the economic data front, U.S. pending home sales declined by 0.8% from the previous month in May, following a 1.8% gain in April.



The U.S. economy expanded at an annualized rate of 3% in the second quarter, rebounding from a 0.5% contraction in the previous quarter. Private businesses in the U.S. added 104,000 jobs in July, surpassing market estimates of a 75,000 increase.



<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>-0.15%</td><td>21,129.67</td></tr><tr><td>S&amp;P 500</td><td>-0.12%</td><td>6,362.90</td></tr><tr><td>Dow Jones</td><td>-0.38%</td><td>44,461.28</td></tr><tr><td>Russell 2000</td><td>-0.47%</td><td>2,232.40</td></tr></tbody></table></figure>



Insights From Analysts:



Brian Rehling, the head of global fixed income strategy at Wells Fargo, said that market sentiment is favorable for risk assets, but things can always change.



He advised the investors to &#8220;consider rebalancing portfolios to take advantage of all-time highs in many markets.&#8221;



He highlighted that risk assets continue to hit new milestones, underscoring a resilient economy. The S&amp;P 500, Nasdaq Composite, and Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) recently hit new all-time highs.



&#8220;It's hard to find a risk asset that has not done well this year with major indexes up significantly year-to-date, highlighting a favorable backdrop for investors,&#8221; he said.



According to him, several factors are contributing to this positive momentum.



He said, &#8220;Corporate earnings have exceeded expectations at the highest rate in recent years, particularly in technology and health care. Recent trade developments, including deals with the European Union and Japan, have helped alleviate some global trade uncertainties, supporting market sentiment. Additionally, the Federal Reserve is likely to lower interest rates this fall, which would be conducive to growth, encouraging business expansion and consumer spending.&#8221;



Overall, these elements, as per Rehling, paint an encouraging picture for risk assets where innovation in areas like artificial intelligence continues to drive value creation.



However, he highlighted that &#8220;Markets do not rise indefinitely without interruptions; periodic pullbacks — such as corrections of 10% or more — are a normal part of the cycle and occur somewhat regularly.&#8221;



Meanwhile, Ryan Detrick of Carson Research highlighted in a memo that one of the most popular economic indicators is the Conference Board's Leading Economic Index (LEI), and it currently points to a recession.



However, he pointed out that this index did not reflect the overall economy and cited his own proprietary LEI.



&#8220;Right now, our version of the LEI says the U.S. economy is growing below trend, i.e., it's slowing, but the index is nowhere close to recession-like levels. At least for now,&#8221; he stated.



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



Upcoming Economic Data



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



<ul class="wp-block-list">
<li>The initial jobless claims data for the week ended July 26, the second quarter&#8217;s Employment Cost Index data, June personal income, spending, and the headline and core PCE Index data will all be released at 8:30 a.m. ET.</li>



<li>July&#8217;s Chicago Business Barometer (PMI) will be out by 9:45 a.m. ET.</li>



<li></li>
</ul>



Stocks In Focus:



<ul class="wp-block-list">
<li>Bristol-Myers Squibb Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) was up 0.22% in premarket on Thursday as analysts expect it to report earnings of $1.58 per share on revenue of $11.31 billion before the opening bell.</li>



<li>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) was slightly below the flatline by 0.005% as it is expected to report earnings after the closing bell. Analysts estimate earnings of $1.42 per share on revenue of $89.04 billion.</li>



<li>Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) jumped 3.44% as analysts expect it to report earnings of $1.31 per share on revenue of $161.87 billion before the opening bell.</li>



<li>Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) jumped 11.50% after reporting better-than-expected second-quarter financial results, issuing third-quarter sales guidance above estimates.</li>



<li>Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) gained 8.53% after reporting better-than-expected fourth-quarter financial results and issuing a strong forecast for the current quarter.</li>



<li>Arm Holdings Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) declined 6.54% as it missed the first-quarter revenue estimate of $1.055 billion, with the sales coming in at $1.053 billion. The adjusted earnings of 35 cents per share were in line with the analyst estimates.</li>



<li>Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) fell 4.88% despite better-than-expected third quarter results as its phone-related sales rose 7% to $6.33 billion, lower than the analyst estimate of $6.48 billion</li>



<li>VerifyMe Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRME#NASDAQ">VRME</a>) surged 50.10% after its subsidiary, PeriShip Global, LLC (a logistics provider), entered into a UPS Digital Channel Program Agreement with United Parcel Service, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) and UPS Worldwide Forwarding, Inc.</li>



<li>Confluent Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CFLT#NASDAQ">CFLT</a>) dropped 29.66% after announcing a $200 million investment aimed at expanding its global partner ecosystem.</li>



<li>IMPINJ Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PI#NASDAQ">PI</a>) climbed 21.10% after reporting second-quarter results as its revenue and adjusted EPS exceeded the company&#8217;s guidance.</li>



<li>Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) was 2.60% higher as Cathie Wood&#8217;s Ark Invest acquired 3,351 AMD shares. This purchase aligns with AMD's recent momentum, as the company raised the price of its MI350 AI chip by $10,000, bringing it to $25,000 per unit.</li>
</ul>



Commodities, Gold, And Global Equity Markets:



Crude oil futures were trading higher in the early New York session by 0.07% to hover around $70.05 per barrel.



Gold Spot US Dollar rose 1.12% to hover around $3,312.99 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was lower by 0.10% at the 99.7160 level.



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



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/earnings/25/07/46748274/qualcomm-is-biggest-beneficiary-for-smart-glasses-powering-designs-for-meta-oakley-ray-ban-best-one-for-now-says-expert">Qualcomm Is &#8216;Biggest Beneficiary&#8217; For Smart Glasses—Powering Designs For Meta, Oakley, Ray-Ban: &#8216;Best One For Now,&#8217; Says Expert</a></li>
</ul>



Photo courtesy: Shutterstock

CFLT

VRME

WING

Stock Market Today: S&P 500, Nasdaq To Open Higher After Robust Meta, Microsoft Earnings—Investors Await Apple, Amazon Results

While the Federal Reserve&#8217;s decision to <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46736975/powell-holds-rates-copper-crashes-after-tariff-change-trump">hold interest rates steady</a> was widely anticipated, a rare dual dissent and nuanced language in the FOMC statement have left experts divided on whether Chair Jerome Powell will hold steady through 2025 or embark on aggressive rate cuts.



What Happened: Highly critical of the Fed, Louis Navellier, the founder and chief investment officer at Navellier &amp; Associates, asserted, &#8220;The Fed lives in a delusional world. They&#8217;re not reading the data.&#8221;



He contends that despite a weakening economy and five straight months of inflation coming in below expectations, the Fed is reluctant to act. Navellier boldly predicts the Fed &#8220;has to cut six times,&#8221; starting in September, to bring the federal funds rate to 3%.



He attributes falling inflation to factors like &#8220;deflation in China&#8221; and a global economic slowdown, making price increases difficult.



Conversely, Bill Adams, the chief economist for Comerica Bank, highlighted the FOMC&#8217;s shift in language, acknowledging that &#8220;growth of economic activity moderated in the first half of the year.&#8221;



Despite this, Comerica forecasts the Fed to &#8220;hold the federal funds target unchanged for the next two decisions.&#8221; Adams notes that Chair Powell emphasized the need for more jobs and inflation data, stating, &#8220;We have made no decisions about September. We don't do that in advance.&#8221;



However, others see a September cut as increasingly likely. Chris Zaccarelli, the chief investment officer for Northlight Asset Management, observed that Chairman Powell &#8220;dropped some hints in his press conference that a rate cut was more likely at the next meeting in September.&#8221;



Jeffrey Roach, the chief economist for LPL Financial, concurred, stating the committee &#8220;set the stage to take action at the next meeting. If economic conditions weaken, the committee will likely cut rates by a quarter point in September.&#8221;



See Also:&nbsp;<a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46513468/bitcoin-miner-iren-could-surge-1572-as-sotp-valuation-pegs-300-target-hedge-fund-manager-eric-jackson-says-were-cooking-with-gas" target="_blank" rel="noreferrer noopener">Bitcoin Miner IREN Could Surge 1,572% As SOTP Valuation Pegs $300 Target — Hedge Fund Manager Eric Jackson Says, ‘We&#8217;re Cooking With Gas&#8217;</a>



Why It Matters: The internal friction within the Fed, marked by Governors Michelle Bowman and Christopher Waller <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46733603/fed-holds-trump-powell-waller-bowman-interest-rates">dissenting in favor</a> of an immediate 25-basis-point cut, underscores the divergent views.



While President Donald Trump&#8216;s <a href="https://www.benzinga.com/news/politics/25/07/46336115/as-trump-calls-for-3-percentage-point-rate-cut-too-late-jerome-powell-to-resign-june-fed-minutes-show-uncertainty-reigns-supreme">pressure for cuts</a> is evident, experts largely agree that Powell&#8217;s legacy and independence from political influence will guide the Fed&#8217;s decisions.



The path ahead remains uncertain, with market participants eagerly awaiting incoming data to discern if Powell will maintain his patient stance or yield to growing calls for more aggressive easing.



Price Action: 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 60.8% likelihood of the Federal Reserve keeping the current interest rates unchanged for the Sept. 17 decision. 



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, were trading higher in premarket on Thursday. The SPY was up 1.02% at $640.91, while the QQQ advanced 1.36% to $640.91, 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/hedge-funds/25/07/46687204/warren-buffett-has-56-of-his-258-billion-portfolios-value-exposed-to-ai-here-are-the-5-stocks-that-are-leveraging-ai-within-berkshires-holdings" target="_blank" rel="noreferrer noopener">Warren Buffett Has 56% Of His $258 Billion Portfolio&#8217;s Value Exposed To AI: Here Are The 5 Stocks That Are Leveraging AI Within Berkshire&#8217;s Holdings</a></li>
</ul>



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



Image Credit: Jack Gruber / USA TODAY NETWORK via Imagn Images

'Delusional World:' Analyst Slams Jerome Powell's Inaction As Experts Debate Possibility Of Six Cuts Starting September

Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) is paying distinguished engineers up to $2.4 million annually, according to leaked internal compensation documents, revealing the software giant&#8217;s escalating investment in top-tier technical talent amid Silicon Valley&#8217;s <a href="https://www.benzinga.com/markets/tech/25/07/46654858/alibaba-cloud-founder-says-true-innovation-doesnt-need-expensive-hires-as-mark-zuckerbergs-meta-rolls-out-hundred-million-dollar-packages">heated artificial intelligence hiring war</a>.



<h2 class="wp-block-heading">Pay Structure Spans 14 Levels</h2>



Internal Microsoft documents <a href="https://www.businessinsider.com/microsoft-pay-guidelines-new-hire-offers-exception-2025-7">obtained</a> by Business Insider detail compensation ranges across 14 engineering levels, from entry-level positions starting at $83,000 to Level 70 distinguished engineers earning maximum salaries of $408,000 plus substantial stock awards.



The highest-tier Level 70 engineers receive on-hire stock awards up to $1.9 million and annual stock grants reaching $1.476 million, according to the May-updated guidelines.



Combined with salaries and bonuses, total compensation approaches $2.4 million for elite technical talent.



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



See Also: <a href="https://www.benzinga.com/markets/equities/25/07/46747335/palantir-alum-recalls-2020-all-nighter-that-won-over-tyson-foods-after-cto-called-demo-impossible-during-pandemic-supply-chain-crisis">Palantir Alum Recalls 2020 All-Nighter That Won Over Tyson Foods After CTO Called Demo &#8216;Impossible&#8217; During Pandemic Supply Chain Crisis</a>



<h2 class="wp-block-heading">Geographic Pay Differentials Drive Costs Higher</h2>



The company maintains separate &#8220;main&#8221; and &#8220;high&#8221; salary ranges based on location. Engineers at Microsoft&#8217;s Redmond, Washington headquarters fall under the main tier, while those in high-cost areas like San Francisco receive premium compensation packages.



Entry-level engineers (Levels 57-59) earn between $83,000-$163,600, depending on location and experience. Senior engineers begin at Level 63 with salaries ranging from $145,000-$237,600, while principal-level positions start at Level 65 with compensation between $172,800-$282,000.



<h2 class="wp-block-heading">AI Talent War Intensifies Competition</h2>



The compensation structure includes carve-outs for &#8220;competitive situations&#8221; where recruiters can seek approval for higher offers, reflecting the industry&#8217;s fierce competition for AI specialists.



Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) has reportedly offered packages worth $20 million annually to lure researchers from competitors, including Microsoft, OpenAI and Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>). OpenAI CEO Sam Altman claimed Meta is providing $100 million signing bonuses, <a href="https://www.benzinga.com/markets/tech/25/07/46623904/mark-zuckerbergs-mafioso-poaching-style-at-meta-sparks-ai-talent-war-sam-altman-says-bring-it-on">though Meta executives dispute these figures</a>.



The talent shortage affects approximately 2,000 researchers globally <a href="https://www.benzinga.com/markets/tech/25/07/46623904/mark-zuckerbergs-mafioso-poaching-style-at-meta-sparks-ai-talent-war-sam-altman-says-bring-it-on">capable of building foundational AI models</a>, driving unprecedented compensation inflation across Silicon Valley as companies race to secure artificial intelligence dominance.



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



Photo courtesy: Shutterstock

Microsoft Is Paying Up To $2.4 Million For Top Tech Talent—Leaked Docs Show Amid AI Talent Arms Race

Treasury Secretary Scott Bessent said Wednesday that President Donald Trump's new children's savings program "is a back door for privatizing Social Security," a remark at a Breitbart News forum that revived a long-fraught debate Republicans have largely avoided in recent years.



What Happened: Hours later, Bessent sought to steady the message, saying the accounts created under the law "will supplement the sanctity of Social Security's guaranteed payments."



<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">Trump Baby Accounts are an additive benefit for future generations, which will supplement the sanctity of Social Security's guaranteed payments. This is not an either-or question: our Administration is committed to protecting Social Security and to making sure seniors have more…&mdash; Treasury Secretary Scott Bessent (@SecScottBessent) <a href="https://twitter.com/SecScottBessent/status/1950675795866988545?ref_src=twsrc%5Etfw">July 30, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Bessent also posted that the administration remains committed to protecting seniors, adding in his evening clarification that it is "not an either-or" proposition, a point he emphasized after his earlier comment ricocheted across Capitol Hill. His X post arrived as the controversy eclipsed the rollout of the policy and prompted questions about whether the White House was shifting toward market-based retirement savings.



See Also: <a href="https://www.benzinga.com/personal-finance/management/25/07/46716370/could-trump-accounts-turn-american-babies-into-tomorrows-millionaires-heres-what-experts-say">Could Trump Accounts Turn American Babies Into Tomorrow&#8217;s Millionaires? Here&#8217;s What Experts Say</a>



The law established &#8216;<a href="https://www.benzinga.com/news/politics/25/06/45938365/trumps-1000-baby-account-aligns-with-billionaire-investor-warren-buffetts-start-young-philosophy">Trump Accounts</a>,&#8217; tax-advantaged savings for children born in the United States that receive a potential $1,000 Treasury seed and allow post-tax contributions up to $5,000 a year, with rules modeled on IRAs. According to a <a href="https://apnews.com/article/trump-child-savings-bessent-privatizing-social-security-97607050cfed0c423833ee7da88b4830">report</a> by the Associated Press, supporters say the balances can build over time and broaden wealth. Critics warn the structure nudges retirement security away from Social Security's guarantees.



Why It Matters: Democrats seized on Bessent's phrasing, with Senate Majority Leader Chuck Schumer (D-N.Y.) saying the comment signaled an intent to revive privatization efforts that voters have repeatedly rejected. &#8220;A stunning admission,&#8221; Schumer said in a Senate speech. &#8220;Bessent actually slipped, told the truth: Donald Trump and government want to privatize Social Security.&#8221;



The Treasury Department later said to AP that the child accounts are an additive program that works in conjunction with Social Security and that the federal benefit "always will be" a critical safety net, seeking to quell backlash.



Bessent's comment at the forum cut against Trump's repeated campaign assurances that he would protect the program, even as Republicans explore new savings vehicles. For now, Treasury says the accounts expand wealth-building without replacing Social Security, while the administration insists its goal is to leave retirees with "more money."



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Image Via Jasper Colt / USA TODAY NETWORK via Imagn Images

Politics

Chuck Schumer Says Scott Bessent 'Slipped' And 'Told The Truth' About Trump's Social Security Privatization Plan

President Donald Trump called for an investigation into Former House Speaker, Rep.&nbsp;Nancy Pelosi&#8216;s&nbsp;(D-Calif.) stock trading activities during a White House briefing on Wednesday, alleging she used insider information to generate exceptional market returns.



<h2 class="wp-block-heading">Trump Supports Congressional Trading Ban</h2>



When asked about Sen.&nbsp;Josh Hawley&#8216;s&nbsp;(R-Mo.) legislation to ban congressional stock trading, Trump expressed conceptual support while targeting Pelosi specifically.



&#8220;Nancy Pelosi became rich by having inside information. She made a fortune with her husband, and I think that&#8217;s disgraceful,&#8221; Trump stated during the briefing.



The proposed HONEST Act, previously known as the PELOSI Act, would prohibit Congress members, presidents, and vice presidents from <a href="https://www.benzinga.com/news/politics/25/07/46748554/nancy-pelosi-backs-proposal-to-ban-congressional-stock-trading-named-after-her-proud-to-support-it-no-matter-what-they-decide-to-name-it">trading individual stocks</a>.



<h2 class="wp-block-heading">Pelosi&#8217;s Portfolio Performance Under Scrutiny</h2>



Trump highlighted Pelosi&#8217;s market performance, claiming she achieved &#8220;the highest return of anybody practically in the history of Wall Street save a few.&#8221;



According to reports, the Pelosi family&#8217;s combined net worth <a href="https://www.benzinga.com/news/politics/25/07/46748554/nancy-pelosi-backs-proposal-to-ban-congressional-stock-trading-named-after-her-proud-to-support-it-no-matter-what-they-decide-to-name-it">reached approximately $413 million in 2024</a>, up from $370 million the previous year. Their portfolio gained 65% in 2023 and 54% in 2024, outperforming many hedge funds.



See Also: <a href="https://www.benzinga.com/markets/equities/25/07/46748648/figma-could-become-a-meme-stock-beyond-all-comprehension-warns-elon-musks-x-product-head-nikita-bier">Figma Could Become A &#8216;Meme Stock Beyond All Comprehension,&#8217; Warns Elon Musk&#8217;s X Product Head Nikita Bier</a>



<h2 class="wp-block-heading">Previous Trading Controversies</h2>



The criticism stems from well-timed trades by Paul Pelosi, Nancy&#8217;s venture capitalist husband. Notable transactions include selling 5,000 Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) shares before a Federal Trade Commission antitrust investigation and disposing of 2,000 Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>) shares worth $500,000-$1 million in July, months before a Department of Justice <a href="https://www.benzinga.com/markets/equities/24/09/41060712/trump-wants-nancy-pelosi-prosecuted-over-husband-pauls-visa-stock-sale-before-doj-lawsuit-you-th">lawsuit against the payment processor</a>.



<h2 class="wp-block-heading">Pelosi Backs Trading Restrictions</h2>



Despite the attacks, Pelosi <a href="https://www.benzinga.com/news/politics/25/07/46748554/nancy-pelosi-backs-proposal-to-ban-congressional-stock-trading-named-after-her-proud-to-support-it-no-matter-what-they-decide-to-name-it">publicly supported the congressional trading ban</a>, stating she would back legislation &#8220;no matter what they decide to name it.&#8221;



&#8220;If legislation is advanced to help restore trust in government and ensure that those in power are held to the highest ethical standards, then I am proud to support it,&#8221; Pelosi said.



The bipartisan effort addresses growing concerns about congressional trading advantages, with several lawmakers achieving returns <a href="https://www.benzinga.com/news/politics/25/07/46748554/nancy-pelosi-backs-proposal-to-ban-congressional-stock-trading-named-after-her-proud-to-support-it-no-matter-what-they-decide-to-name-it">ranging from 70% to 149% in recent years</a>.



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



Photo courtesy: Joey Sussman from Shutterstock

Trump Says Nancy Pelosi 'Became Rich By Having Inside Information,' Calls For Investigation Amid Congressional Stock Trading Ban Legislation

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



U.S. stocks settled lower on Wednesday, with the Dow Jones index falling more than 150 points during the session after Federal Reserve Chair Jerome Powell said "no decision" has been made on a September rate cut.



On Wednesday, the Federal Reserve held interest rates steady at 4.25%-4.50% as expected, yet two members broke ranks to support a rate cut, marking the most divided Fed meeting in over three decades.



Wingstop Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WING#NASDAQ">WING</a>) shares jumped around 27% on Wednesday after the company reported better-than-expected second-quarter EPS and sales. Avis Budget Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAR#NASDAQ">CAR</a>) fell 15% following worse-than-expected quarterly EPS and sales.



On the economic data front, U.S. pending home sales declined by 0.8% from the previous month in May, following a 1.8% gain in April. The U.S. economy expanded at an annualized rate of 3% in the second quarter following a 0.5% contraction in the previous quarter. Private businesses in the U.S. added 104,000 jobs in July, compared to market estimates of a 75,000 increase.



Most sectors on the S&amp;P 500 closed on a negative note, with materials, real estate and energy stocks recording the biggest losses on Wednesday. However, information technology and utilities stocks bucked the overall market trend, closing the session higher.



The Dow Jones closed lower by 172 points to 44,461.28 on Wednesday. The S&amp;P 500 fell 0.12% to 6,362.90, while the Nasdaq Composite gained 0.15% to 21,129.67 during Wednesday's session.



Investors are awaiting earnings results from Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Bristol-Myers Squibb Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) today.



What is CNN Business Fear &amp; Greed Index?



At a current reading of 66.7, the index remained in the &#8220;Greed&#8221; zone on Wednesday, versus a prior reading of 68.1.



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



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Photo courtesy: Shutterstock

Pre-Market Outlook

Dow Falls Over 150 Points After Powell's Comments On Rate Cuts: Investor Sentiment Declines, But Fear Index Remains In 'Greed' Zone

Leading cryptocurrencies felt the pinch on Wednesday after Federal Reserve Chair Jerome Powell said &#8220;no decision&#8221; has been made on a September rate cut.



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 9:30 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>+0.02%</td><td>$117,946.09</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>+0.61%</td><td>$3,811.10</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>-1.85%</td><td>$0.2195</td></tr></tbody></table></figure>



What Happened: Bitcoin dipped below $116,000 late afternoon but recouped the gains overnight. Ethereum extended its gains overnight following the afternoon pullback, even as trading volume cooled off.



A White House advisory group formed under President Donald Trump <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46723859/trumps-advisors-just-laid-out-a-crypto-blueprint-heres-whats-in-it">released a cryptocurrency blueprint</a> urging federal agencies to clarify rules concerning digital assets.



Meanwhile, cryptocurrency liquidations hit $432 million in the last 24 hours, with Ethereum alone accounting for $101 million.&nbsp;



Interestingly, Bitcoin's rise to $120,000 could liquidate $430 million worth of BTC short positions on Binance.



Bitcoin's open interest rose by 1.23% in the last 24 hours. When the spot price is sideways and open interest is increasing, it typically precedes a breakout in either direction.



Despite the weakness, "greed" sentiment persisted in the market, 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 9:30 p.m. ET)</th></tr></thead><tbody><tr><td>Ethena (ENA)&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+10.29%</td><td>$0.6258</td></tr><tr><td>Conflux (CFX)&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+8.22%</td><td>$0.2215</td></tr><tr><td>Curve DAO Token (CRV)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+8.18%</td><td>$1.04 </td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.86 trillion, contracting 0.24% in the last 24 hours.



Major stock averages closed lower on Wednesday. The Dow Jones Industrial Average slid 171.71 points, or 0.38%, to close at 44,461.28. The S&amp;P 500 dipped 0.12% to end at 6,362.90. The tech-heavy Nasdaq Composite was the silver lining, gaining 0.15% to end at 21,129.67.



The Federal Reserve held interest rates steady at 4.25%-4.50%, as expected, followed by hawkish comments from Powell.



Powell said that <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46736975/powell-holds-rates-copper-crashes-after-tariff-change-trump">"no decisions" have been made</a> about a rate cut in September, pouring cold water on investors' hopes. The odds of a 25 basis point cut fell to 43% from 63% the day before, <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">according </a>to the CME FedWatch tool.&nbsp;



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



Analyst Notes: Widely followed cryptocurrency analyst and trader Michaël van de Poppe suggested that the cryptocurrency market dip following no change in rate cuts is temporary.



"I think it&#8217;s a great chance to accumulate. Could be that we fall deeper, but not for long. August/September new ATHs," 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">This has been the biggest FOMC meeting ever! Haha, not. Anyways, markets are moving down as there&#39;s still no rate cut and <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> lost the range. I think it&#39;s a great chance to accumulate. Could be that we fall deeper, but not for long. August/September new ATHs. <a href="https://t.co/TDUbqlBsJY">pic.twitter.com/TDUbqlBsJY</a>&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1950643093554008135?ref_src=twsrc%5Etfw">July 30, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Another cryptocurrency-focused trader, Tom Tucker, spotted Bitcoin forming a bullish pennant on its daily chart.



A bullish pennant is a continuation chart pattern, indicating resumption of an uptrend after a pause or consolidation period.



"With the Crypto Fear &amp; Greed Index still in the greed zone at 63, and Bollinger Bands tightening, a breakout could be near. Target on breakout? $143,550," Tucker projected.



<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=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> is trading in a tight range, forming a bullish pennant on the daily chart. With the Crypto Fear &amp; Greed Index still in the greed zone at 63, and Bollinger Bands tightening, a breakout could be near. Target on breakout? $143,550 <a href="https://t.co/i5Z4CUFO0b">pic.twitter.com/i5Z4CUFO0b</a>&mdash; Tom Tucker (@WhatzTheTicker) <a href="https://twitter.com/WhatzTheTicker/status/1950631755268141396?ref_src=twsrc%5Etfw">July 30, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo Courtesy: Yalcin Sonat On Shutterstock.com



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$DOGE

$ETH

Bitcoin, Ethereum Move Sideways, Dogecoin Falls Amid Jerome Powell's Hawkish Tone On Rate Cuts: Analyst Says Dip Temporary Before BTC Highs

Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) may look to outside partners to help finance its ballooning infrastructure investments in 2026, as it ramps up spending on artificial intelligence <a href="https://www.benzinga.com/markets/25/02/43962882/meta-gears-up-for-ai-dominance-with-200-billion-data-center-project-report">and data centers</a>.



<h2 class="wp-block-heading">Meta Eyes Financial Partners Amid Soaring AI Costs</h2>



During the company's <a href="https://www.benzinga.com/markets/earnings/25/07/46739277/meta-beats-q2-earnings-estimates-issues-strong-guidance-shares-surge-to-new-highs">second-quarter 2025 earnings</a> call, CFO Susan Li addressed questions around how Meta plans to fund what could exceed $100 billion in capital expenditures next year.



"We certainly expect that we will finance some large share of that ourselves," Li said. "But we&#8217;re also exploring ways to work with financial partners to co-develop data centers."



Li noted that while Meta has not finalized any transactions, the company sees an opportunity in attracting external capital to support large-scale infrastructure.



"We generally believe that there will be models here that will attract significant external financing… while providing us with flexibility should our infrastructure requirements change over time," she added.



See Also: <a href="https://www.benzinga.com/trading-ideas/movers/25/07/46727737/palo-alto-networks-stock-is-falling-today-whats-going-on" target="_blank" rel="noreferrer noopener">Palo Alto Networks Stock Is Falling Today: What's Going On?</a>



<h2 class="wp-block-heading">Alphabet, Microsoft Also In Infrastructure Race<div aria-setsize="-1" class="c-virtual_list__item" tabindex="0" role="listitem" id="message-list_1753933665.285679" data-qa="virtual-list-item" data-item-key="1753933665.285679" style="box-sizing: inherit; width: 891px; position: absolute; outline-style: none; color: rgb(209, 210, 211); font-family: Slack-Lato, Slack-Fractions, appleLogo, sans-serif; font-size: 15px; font-variant-ligatures: common-ligatures; font-weight: 400; white-space-collapse: collapse; background-color: rgb(26, 29, 33); top: 2388.06px;"><div role="presentation" class="c-message_kit__background c-message_kit__background--hovered p-message_pane_message__message c-message_kit__message" data-qa="message_container" data-qa-unprocessed="false" data-qa-placeholder="false" style="box-sizing: inherit; background: rgba(var(--sk_foreground_min_solid,248,248,248),1); user-select: text; overflow-wrap: break-word; line-height: 1.46668;"><div role="document" aria-roledescription="message" class="c-message_kit__hover c-message_kit__hover--hovered" data-qa-hover="true" style="box-sizing: inherit;"><div class="c-message_kit__actions c-message_kit__actions--above" style="box-sizing: inherit; 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Meta is one of several tech giants racing to scale AI infrastructure globally. It posted second-quarter revenue of $47.52 billion, surpassing <a href="http://benzinga.com/quote/META/earnings">analyst expectations</a> of $44.58 billion.



Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), which <a href="https://www.benzinga.com/markets/earnings/25/07/46587283/alphabet-q2-earnings-revenue-eps-beat-estimates-google-parent-raises-capex-outlook-due-to-strong-and-growing-cloud-demand">reported earnings last week</a>, has also raised its 2025 capital expenditure forecast to around $85 billion, citing "strong and growing demand" for its cloud products and services.



On Wednesday, Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) reported <a href="https://www.benzinga.com/markets/earnings/25/07/46738585/microsoft-q4-earnings-highlights-double-beat-ceo-says-cloud-and-ai-is-the-driving-force">fourth-quarter earnings</a> and projected $30 billion in capital expenditures for the current fiscal first quarter, driven by surging sales in its Azure cloud segment.



<h2 class="wp-block-heading">Data Center Demand Set To Explode</h2>



A global surge in data center construction is underway to meet the soaring computing demands of AI leaders like Meta, Palantir Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) and Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>).



Goldman Sachs projects <a href="https://www.benzinga.com/markets/tech/25/07/46471676/meta-palantir-amazon-ai-datacenter-growth">global data center demand</a> will grow 50% by 2027, rising from 62 GW to 92 GW, largely driven by AI workloads, which are expected to account for 28% of usage by then.



By 2030, data center power demand could climb 165%, making the sector one of the world&#8217;s top 10 electricity consumers.



Price Action: Meta shares dipped 0.68% on Wednesday but surged 11.49% in after-hours trading, reaching $775.10, per <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.



According to Benzinga&#8217;s Edge Stock Rankings, META maintains strong upward momentum across short, medium and long-term timeframes. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound'">Additional performance insights are available here</a>.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound'"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/30233520/Screenshot-2025-07-31-at-9.00.45%E2%80%AFAM.png" alt="" class="wp-image-1008220"/></a></figure>



Photo Courtesy: Skorzewiak on Shutterstock.com



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

GOOG

Meta CFO Susan Li Says Company May Tap External Financing For 2026 AI Infrastructure As CapEx Heads Toward $100 Billion

President Donald Trump announced on Wednesday that the United States has reached a &#8220;Full and Complete Trade Deal&#8221; with the Republic of Korea, worth $450 billion. 



What Happened: In a Truth Social post on Wednesday night, Trump said, &#8220;South Korea will provide "$350 Billion Dollars for Investments owned and controlled by the United States, and selected by myself, as President,&#8221; as part of the deal. 



Additionally, the deal includes a commitment from South Korea to purchase &#8220;$100 Billion Dollars of LNG, or other Energy products,&#8221; Trump said, adding that more investment details will be revealed &#8220;within the next two weeks&#8221; during a scheduled White House meeting with South Korean President Lee Jae Myung.



See Also: <a href="https://www.benzinga.com/news/topics/25/07/46686877/drug-prices-to-get-more-expensive-under-trumps-eu-trade-deal-as-pharma-faces-billions-in-added-costs-report">Drug Prices To Get &#8216;More Expensive&#8217; Under Trump&#8217;s EU Trade Deal As Pharma Faces Billions In Added Costs: Report</a>



As part of the deal, Trump says, South Korea will &#8220;be completely OPEN TO TRADE with the United States,&#8221; adding that the country &#8220;will accept American product including Cars and Trucks, Agriculture, etc.&#8221;



He also notes that as part of this arrangement, imports from South Korea will be charged a 15% tariff, while American goods will not be subject to a tariff.



<figure class="wp-block-image aligncenter size-large is-resized"><img loading="lazy" decoding="async" width="1002" height="1024" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/30213535/Screenshot-2025-07-31-at-7.05.24-AM-1002x1024.png" alt="" class="wp-image-1008080" style="width:519px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/30213535/Screenshot-2025-07-31-at-7.05.24-AM-1002x1024.png 1002w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/30213535/Screenshot-2025-07-31-at-7.05.24-AM-293x300.png 293w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/30213535/Screenshot-2025-07-31-at-7.05.24-AM-768x785.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/30213535/Screenshot-2025-07-31-at-7.05.24-AM.png 1166w" sizes="(max-width: 1002px) 100vw, 1002px" /></figure>



Why It Matters: Economist Peter Schiff, once again, noted that the 15% tariffs charged on South Korean imports will be paid by American importers, and not South Korea. 



He says, even if these costs aren&#8217;t passed on to consumers, the importer&#8217;s profits will take a hit. &#8220;One way or another, Americans pay,&#8221; he says, adding that the winners are foreigners, who will now get to buy goods that Americans can no longer afford.



<figure class="wp-block-embed aligncenter 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">Trump&#39;s tariffs are being paid by American importers. If they don&#39;t raise their prices to cover these increased costs, their profits will tax a huge hit. One way or another, Americans pay. The winners will be foreing consumers, who get to buy what Americans can no longer afford.&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1950722262572613915?ref_src=twsrc%5Etfw">July 31, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



This marks another major trade deal in recent days, after the European Union, Japan, Vietnam and Indonesia. However, the United States has <a href="https://www.benzinga.com/news/politics/25/07/46716020/trump-is-yet-to-sign-a-trade-deal-with-over-85-of-humanity-here-are-the-major-countries-that-are-yet-to-sign">yet to sign</a> a trade deal with the vast majority of humanity. 



Photo Courtesy: Joey Sussman on Shutterstock.com



Read More:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/07/46680463/jim-cramer-lauds-trumps-tariff-playbook-calls-japan-and-eu-trade-deals-clean-victories-our-country-ran-the-table-on-both">Jim Cramer Lauds Trump&#8217;s Tariff Playbook: Calls Japan And EU Trade Deals Clean Victories — &#8216;Our Country Ran The Table On Both&#8217;</a></li>
</ul>

Asia

Global

Markets

Trump 'Pleased' With $450 Billion South Korea Tariff Deal, Seoul To Accept US Cars, Agriculture: Economist Warns Americans 'Pay' The 15% Tariff

Federal Reserve Chair Jerome Powell held firm on monetary policy, calling the central bank's current stance &#8220;modestly restrictive&#8221; and reiterating that no decision has been made about a <a href="https://www.benzinga.com/topic/federal-reserve">rate cut in September.</a>



<ul class="wp-block-list">
<li>The SPY ETF is moving fast. <a href="https://www.benzinga.com/quote/SPY">See real-time price here.</a></li>
</ul>



On Wednesday, the Federal Reserve held interest rates steady at 4.25%-4.50% as expected, yet two members broke ranks to support a rate cut, marking the most divided Fed meeting in over three decades.



<h3 class="wp-block-heading">Powell Doesn&#8217;t Concede On September Rate Cut</h3>



Speaking after the July Federal Open Market Committee meeting, Powell said inflation remains "a bit above 2%," even when excluding the recent tariff-driven spike in goods prices. 



Despite softening in some economic indicators, Powell emphasized that policy must remain tight enough to prevent those price increases from becoming embedded.



Markets and the Trump administration have been pressuring the Fed to begin cutting interest rates this fall. But Powell resisted those calls, stressing that two more rounds of jobs and inflation data will arrive before the next meeting.



"We have made no decisions about September," he said. "We don't do that in advance."



Powell explained that the Fed is trying to time its next move efficiently: "If we move too soon, we may not finish the job on inflation. If we move too late, we risk unnecessary damage to the labor market."



Asked whether current data would justify a cut in September if trends hold steady, Powell declined to answer directly. "We're going to need to see the data," he said. "It can go in many different directions."



<h3 class="wp-block-heading">Tariff Effects Are Real—But Still Evolving</h3>



Powell acknowledged that higher tariffs, particularly those imposed earlier this year, are beginning to filter through to consumer prices. The Fed estimates that around $30 billion in tariff revenue is being collected monthly, much of which is now appearing in goods inflation. Powell cited the June Consumer Price Index report as evidence.



"Companies feel that they have every intention of putting this through to the consumer," Powell said. "But they may not be able to in many cases."



While he called it a "reasonable base case" that these price increases are a one-time shift, Powell warned that the inflationary impact could still prove more persistent—a risk the Fed is monitoring closely.



<h3 class="wp-block-heading">Labor Market Holding, But Under Pressure</h3>



Despite ongoing strength in headline numbers, Powell admitted the labor market is "in balance" largely because both labor demand and supply are slowing in tandem. Private-sector job creation has decelerated in recent months, though unemployment remains low at 4.1%.



"There are downside risks to the labor market," Powell said. "It's worth paying close attention."



<h3 class="wp-block-heading">Market Reactions: Stocks Fall, Dollar Rallies, Copper Suffer Historic Fall</h3>



Markets swung lower as Powell struck a cautious tone on interest rates, dashing hopes for a near-term cut. Wall Street&#8217;s rate-cut bets for September fell to 45%, down from 68% immediately after the Fed's July policy statement.



The S&amp;P 500 declined 0.5%, on pace for its third straight loss—its longest losing streak since late April. Small caps, which are more sensitive to interest rates, underperformed, with the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) down 1%.



The U.S. dollar index surged 1%, extending its rally to five consecutive sessions, the strongest five-day gain since mid-2022, as traders unwound short positions.



Copper markets saw unprecedented volatility. Prices plunged 19.4%, marking the steepest one-day drop since the metal began trading on financial markets in 1988. The selloff followed President Donald Trump's tariff adjustments, which excluded refined copper, prompting a reversal of pre-tariff hoarding strategies.



The updated tariff plan will apply to semi-finished copper goods, such as wires and pipes, but will exclude ore, cathodes, and concentrates, which account for the majority of U.S. copper imports. Traders had been front-loading shipments ahead of Friday's 50% levy, fueling a rapid unwind.



Other metals also suffered losses. Gold fell 1.6% to $3,272 an ounce, hitting a one-month low. Silver dropped 3.4% to $36.85, while platinum sank 7.4% to $1,290.



Crypto followed suit: Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) lost 1.7% to $116,000 and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) dipped 2% to $3,719.



Copper On A Free Fall After Trump&#8217;s Tariff Correction



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="560" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/30153814/image-491-1024x560.png" alt="" class="wp-image-1007837" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/30153814/image-491-1024x560.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/30153814/image-491-300x164.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/30153814/image-491-768x420.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/30153814/image-491-1536x840.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/30153814/image-491-2048x1120.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



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Image created using artificial intelligence via Midjourney.

Powell Puts Breaks On September Rate Cut—And Trump Triggers A Metal Market Crash

Cryptocurrency trading company Coinbase Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) reports second-quarter financial results<a href="https://www.benzinga.com/earnings"> after market close Thursday.</a>



COIN shares are trending up modestly. <a href="https://www.benzinga.com/quote/COIN" target="_blank" rel="noreferrer noopener">See real-time price here.</a>



Here are the earnings estimates and key items to watch.



Earnings Estimates: Analysts expect Coinbase to report second-quarter revenue of $1.69 billion, up from $1.45 billion in last year's second quarter according to data<a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0730"> from Benzinga Pro.</a>



The company missed analyst estimates in the first quarter but has beaten estimates in nine of the last 10 quarters overall.



Analysts expect Coinbase to report second quarter earnings per share of $1.35, up from $1.07 in last year's second quarter. The company missed analyst estimates in the first quarter, but has beaten analyst estimates in eight of the past 10 quarters.



Read Also: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46721901/jpmorgan-partners-with-coinbase-to-expand-crypto-access-for-80m-customers">JPMorgan Partners With Coinbase To Expand Crypto Access For 80M Customers</a>



Key Items to Watch: Analysts have been raising their<a href="https://www.benzinga.com/quote/COIN/analyst-ratings"> price targets on Coinbase </a>stock with optimism for the cryptocurrency sector as Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) hit all-time highs and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) gained momentum in recent weeks.



Bills in Congress as part of "Crypto Week" are likely to be a key topic as the cryptocurrency sector moves forward and Coinbase has been pushing for regulation in the sector.



Another key area to watch is stablecoin USDC (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>), which is part of a partnership between Coinbase and Circle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRCL#NYSE">CRCL</a>).



JPMorgan analyst Kenneth B. Worthington<a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46690257/forget-bitcoin-coinbases-secret-weapon-fuels-growth-for-free"> recently said</a> that the USDC unit of Coinbase could be underestimated by investors.



&#8220;We see USDC economics as particularly attractive,&#8221; Worthington said, pointing to high margins and future growth.



Stablecoins have become a key talking point of bills in Congress for cryptocurrency.



Partnerships signed by Coinbase with major banks like JPMorgan and PNC could also be a talking point in the company's earnings results and guidance. The company continues to sign partnerships with key names in the financial world as companies explore more use cases for cryptocurrency.



Cryptocurrencies outside of Bitcoin and Ethereum could also be worth watching in Coinbase's report. In <a href="https://www.benzinga.com/news/earnings/25/05/45302422/coinbase-q1-earnings-highlights-revenue-eps-miss-2025">the first quarter, </a>the company highlighted Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) and XRP Token (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) as seeing increased trading volume.



Subscription and services revenue will be a key area to watch as this high-margin revenue has helped offset quarters with lower crypto trading revenue. The company is guiding for this revenue to be in a range of $600 million to $680 million, versus a total of $698.1 million in the first quarter.



After growing quarter-over-quarter, Coinbase's guidance forecasts a drop in the second quarter.



Coinbase's report comes a day after Robinhood Markets, which highlighted crypto trading growth in <a href="https://www.benzinga.com/markets/earnings/25/07/46739502/robinhood-q2-double-beat-crypto-revenue-nearly-doubles">its recent quarter</a> results. Robinhood saw its cryptocurrency trading revenue up 98% year-over-year and its cryptocurrency trading volume up 32% year-over-year in its fourth fiscal quarter.



While Robinhood and Coinbase don't offer all of the same products, both have high usage among retail traders and likely see similar growth in the crypto sector during bull markets like parts of 2025 have been.



COIN Price Action: Coinbase stock closed Wednesday up 1.63% to $377.48 versus a 52-week trading range of $142.58 to $444.65. Coinbase stock is up 50% year-to-date in 2025.



Read Next: 



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<li><a href="https://www.benzinga.com/insights/options/25/07/46725185/what-the-options-market-tells-us-about-coinbase-global">What the Options Market Tells Us About Coinbase Global</a></li>
</ul>



Photo: Shutterstock

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Coinbase Q2 Preview: Can White House Momentum, Bitcoin All-Time Highs Help?

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