Self-driving cars are poised to disrupt the $430-billion U.S. auto insurance market, according to Goldman Sachs, as fewer accidents and shifting risks could cut insurance costs by more than half over <a href="https://www.benzinga.com/topic/expert-ideas">the next 15 years.</a>



In a research note shared Monday, Goldman analyst Mark Delaney indicated that insurance costs are projected to decline from roughly $0.50 per mile in 2025 to just $0.23 per mile by 2040.



That compression could severely challenge the current economics of the insurance sector.



&#8220;Autonomy could significantly reduce the number of auto accidents, particularly those caused by human error,&#8221; Delaney stated. 



<h3 class="wp-block-heading">Autonomous Vehicles Threaten Auto Insurance Model, But Industry Has Time To Adjust</h3>



The U.S. auto insurance market stands at around $432 billion today, including $360 billion in personal coverage and $72 billion in commercial.



 As vehicles become safer and smarter, Goldman sees a major transformation in how risk is priced and how legal liability is assigned.



"The two primary long-term risks to auto insurers, are declines in accident frequency and changes in claim costs and legal liability," Delaney said.



Autonomy, especially through Advanced Driver Assistance Systems (ADAS), is already reducing accident frequency while simultaneously pushing up repair costs due to increasingly complex vehicles. 



Goldman forecasts that even with declining accident rates, a modest rise in total vehicle count and higher cost per claim—driven by both tech-heavy cars and litigation—will support modest premium growth over the next 10 to 15 years.



&#8220;We expect a continuation of the modest real growth that the auto insurance market has produced over recent decades/years, driven by increases in the number of vehicles and above-CPI increases in cost per claim,&#8221; Delaney said. 



While the long-term outlook for autonomous vehicles shows potential growth, the Global X Autonomous &amp; Electric Vehicles ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DRIV#NASDAQ">DRIV</a>) has slipped 7% year-to-date, still reflecting some market skepticism.



<h3 class="wp-block-heading">Will Robotaxis Kill Traditional Insurance?</h3>



Self-driving vehicles are creating both threats and opportunities for the car insurance industry. Goldman estimates that the market for robotaxi insurance could reach $1 billion to $1.5 billion by 2030, still a small fraction of the broader market.



Yet, new players may enter the market posing a competitive threat to established insurers. 



&#8220;Some larger companies in the AV space could self-insure,&#8221; the note said, thus reducing the commercial opportunity for traditional insurers such as Progressive Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>) and Allstate Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>). 



Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), and Rivian Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) are already offering insurance, though mainly on a small scale. Tesla earned about $317 million in insurance revenue in 2024, while Rivian partners with underwriters like Nationwide and Progressive to avoid taking on risk directly.



More than just who underwrites coverage, the very nature of auto insurance could change. 



According to Goldman Sachs, autonomy could shift insurance from covering driver error to managing product liability and cyber risks—areas that fall outside the traditional underwriting expertise of most insurers. 



Traditional insurers may need to invest in new capabilities to stay competitive, while automakers looking to expand into insurance will have to prove they can manage risk profitably without adding balance sheet losses.



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Self-Driving Cars May Slash Insurance Costs 50% By 2040, Challenge Traditional Insurers: Goldman Sachs

As China&#8217;s May export data missed expectations just ahead of the <a href="https://www.benzinga.com/news/politics/25/06/45832550/us-and-china-resume-trade-talks-in-london-after-trumps-call-with-xi-jinping">second round of U.S.-China</a> trade negotiations, leading experts are offering sharply divergent interpretations of how the data will be leveraged during the trade talks. 



What Happened: While Mohamed A. El-Erian, a senior economist and former CEO of PIMCO, has sounded an alarm over &#8220;worrisome&#8221; figures, Bob Elliott, the CIO at Unlimited Funds, suggests China faces &#8220;little urgency&#8221; to concede.



According to El Erian, recent Chinese trade and inflation data were particularly troubling as May&#8217;s export figures fell below consensus forecasts.



The exports in May grew by 4.8%, missing the expected 5%, &#8220;it highlights the growing pressures the Chinese economy is under,&#8221; said El Erian.



Despite a rise in trade surplus by 25% compared to the previous year, El Erian noted that inflation in China experienced its &#8220;fourth consecutive month of negative readings,&#8221; falling by 0.1%, and producer price index inflation registered a negative 3.3%.



<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">Worrisome Chinese trade and inflation data ahead of the country's negotiations with the US this week: China's exports and imports for May came in below the consensus forecast, primarily due to the sharp decline in trade with the US. Driven by an 18.5% drop, China's imports…&mdash; Mohamed A. El-Erian (@elerianm) <a href="https://twitter.com/elerianm/status/1931985470046490947?ref_src=twsrc%5Etfw">June 9, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



In stark contrast, Elliott presented a more sanguine view, asserting that despite U.S. tariffs on Chinese goods &#8220;running at 30%,&#8221; recent data shows &#8220;little indication of a slowdown in the Chinese economy.&#8221; He believes these &#8220;stable economic conditions suggest little urgency for the Chinese to make a disadvantageous deal&#8221; in the ongoing trade talks.



He attributed this resilience to China&#8217;s strategic redirection of its export capacity &#8220;away from the US and to other jurisdictions.&#8221; While exports to the U.S. have indeed fallen by 34.5%, Elliott highlighted that &#8220;exports to other locations are up 11.4%.&#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">A big reason for this is that the Chinese have redirected their export capacity away from the US and to other jurisdictions. Exports to the US have fallen 34.5%, while exports to other locations are up 11.4%. <a href="https://t.co/EEIM5i8ydR">pic.twitter.com/EEIM5i8ydR</a>&mdash; Bob Elliott (@BobEUnlimited) <a href="https://twitter.com/BobEUnlimited/status/1932011756701831277?ref_src=twsrc%5Etfw">June 9, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



He concluded his analysis by stating, &#8220;The export data, timely surveys and markets mostly point to the same picture: China is hanging in there just fine despite the high tariffs.&#8221;



See Also: <a href="https://www.benzinga.com/markets/macro-economic-events/25/06/45832125/as-trump-flames-powell-for-holding-back-on-rate-cuts-economists-divided-on-feds-app">As Trump Flames Powell For Holding Back On Rate Cuts, Economists Divided On Fed&#8217;s Approach</a>



Why It Matters: As U.S. and Chinese negotiators begin talks, these sharply differing interpretations of China&#8217;s economic resilience or fragility will undoubtedly color the approach of both sides, particularly regarding Beijing&#8217;s willingness to make concessions.



According <a href="https://www.bbc.com/news/articles/cql2x6d2zkgo?ref=biztoc.com">to</a> the BBC, U.S. Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer will represent Washington in talks, facing a Beijing delegation led by Chinese Vice Premier He Lifeng.



Last week&#8217;s <a href="https://www.benzinga.com/news/politics/25/06/45793852/trump-reaches-out-to-xi-as-markets-react-tensions-simmer">phone call</a> between President Donald Trump and Chinese President Xi Jinping, described by Trump as having reached &#8220;a very positive conclusion for both countries,&#8221; paved the way for this meeting.



Price Action: The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, were flat in premarket on Monday. The SPY was up 0.12% at $599.88, while the QQQ advanced 0.055% to $530.21, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pr</a>o data.



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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. 



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News

Mohamed El Erian Warns Of 'Worrisome' Chinese Trade Data Looming Over US Negotiations, But Bob Elliott Sees 'Little Urgency' For China To Sign A 'Disadvantageous Deal'

After a <a href="https://www.benzinga.com/markets/economic-data/25/06/45812372/us-labor-markets-defies-tariff-concerns-as-nonfarm-payrolls-wages-top-expectations-in-may">steady May jobs report</a> that was released Friday, economists are at a crossroads about their view on the monetary policy. While some believe that the Federal Reserve should hold onto its &#8220;wait and see&#8221; stance, others affirm that the central bank can start cutting interest rates.



What Happened: While most economists were in consensus that the Federal Reserve should wait for the tariff implications to play out before cutting interest rates. Jamie Cox, the managing partner at Harris Financial Group, believed that the Fed should start cutting interest rates as soon as July.



&#8220;The labor market is strong, but cooling. I expect this report, with all its revisions, to bring the Fed back into cutting mode in July,&#8221; he said.



According to the data shared by the Bureau of Labor Statistics, the <a href="https://www.benzinga.com/markets/economic-data/25/06/45812372/us-labor-markets-defies-tariff-concerns-as-nonfarm-payrolls-wages-top-expectations-in-may">nonfarm payrolls</a> rose by 139,000 in May, beating consensus expectations of 130,000. However, it was lower than its average monthly gain of 149,000 over the last 12 months.



However, Chris Zaccarelli, the CIO at Northlight Asset Management said, &#8220;The Fed should be reluctant to cut rates because the full effects of tariffs haven't impacted inflation numbers yet and the job market isn't deteriorating enough to force their hand, which is why we don't expect them to cut rates until the end of this year, if at all.&#8221;



And Jeffrey Roach, the chief economist at LPL Financial, said, &#8220;If payroll growth trudges on like this, the Fed will likely remain in &#8216;wait and see&#8217; mode.&#8221;



See Also:&nbsp;<a href="https://www.benzinga.com/markets/25/06/45828107/larry-summers-identifies-3-key-reasons-for-rising-us-debt-but-doesnt-think-trumps-big-beautiful-bill">Larry Summers Identifies 3 Key Reasons For Rising US Debt, But Doesn't Think Trump's ‘Big Beautiful Bill' Is The Medicine The Country Needs</a>



Why It Matters: Apart from nonfarm payrolls, the average hourly earnings rose 0.4% from a month ago and 3.9% from last year. Thus, the wages rose faster than inflation, giving workers some relief from inflation pressure.



The unemployment rate was unchanged at 4.2% and has been rangebound for the past year. The employed population stood at 59.7%, a decline from last month and still below the Jan 2020 level.



On Friday, senior economist Mohamed El-Erian said in an X post that the <a href="https://www.benzinga.com/markets/economic-data/25/06/45818251/trump-cheers-strong-jobs-data-renews-attack-on-feds-powell-rates-should-be-much-lower">central bank should wait</a> to cut the rates, given that &#8220;both May job creation and wage growth were higher than consensus forecasts.&#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">One clear message from today's US jobs report is that, whatever the average expectations were for Fed rate cuts, they should now be somewhat smaller and somewhat later. Why? Because BOTH May job creation AND wage growth were higher than the consensus forecasts. Specifically, Job…&mdash; Mohamed A. El-Erian (@elerianm) <a href="https://twitter.com/elerianm/status/1930984774111199441?ref_src=twsrc%5Etfw">June 6, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections show markets pricing a 99.9% likelihood of the Federal Reserve keeping the current interest rates unchanged in its June meeting. However, the odds of a cut increased over 60% for the September, October, and December meetings.



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, rose on Friday. The SPY was up 1.03% to $599.14, while the QQQ advanced 0.98% to $529.92, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



On Monday, the futures of the S&amp;P 500, Dow Jones, and Nasdaq 100 indices were trading lower.



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Photo courtesy: Domenico Fornas / Shutterstock.com

As Trump Flames Powell For Holding Back On Rate Cuts, Economists Divided On Fed's Approach

Deutsche Bank has indicated that the ongoing immigration crackdown and subsequent decline in numbers is causing a more severe negative supply shock to the economy than the tariffs imposed by President Donald Trump.



What Happened: Since Trump&#8217;s inauguration, monthly encounters at the Southwest border have dropped sharply to 12,000, compared to an average of 200,000 between January 2022 and June 2024, <a href="https://fortune.com/2025/06/08/immigration-collapse-economy-workforce-labor-supply-shock-trump-tariffs-ice-raid/">reported</a> Fortune. his represents a more significant negative supply shock than the impact of Trump&#8217;s tariffs, the bank stated.



George Saravelos, head of FX research at Deutsche Bank, said in a note on Friday, &#8220;While everyone is focused on the impact of tariffs, the real story for the U.S. economy is the collapse in immigration: down more than 90% compared to the run rate of previous years, equivalent to a slowing in labour force growth of more than 2 million people.&#8221;



Deutsche Bank cautions that declining immigration could have broader effects on financial markets, including added pressure on the dollar, which is already feeling the impact of Trump's aggressive tariff policies. 



The bank also notes that the immigration crackdown may give the Federal Reserve further reason to postpone interest rate cuts, since a slower-growing workforce reduces the need for increased hiring to accommodate extra labor supply.



 "If recent immigration trends continue, it must follow that over the course of the year the reverse will happen. As the 2022 energy shock showed, a negative supply shock is not good news for a currency." cautioned Saravelos.



SEE ALSO: <a href="https://benzinga.com/news/politics/25/06/45830411/elon-musk-flexes-spacex-advantage-in-feud-with-trump-we-have-got-the-spaceships-and-they-do-not-get" target="_blank" rel="noreferrer noopener">Elon Musk Flexes SpaceX Advantage In Feud With Trump: &#8216;We Have Got The Spaceships And They Do Not&#8217; — Gets Support From This Republican</a>



Why It Matters: The analysts&#8217; warning comes in the light of Trump&#8217;s deployment of National Guard troops to California following two days of immigration raid protests, claiming the demonstrations obstructed federal law enforcement and suggesting they could be a "form of rebellion" against U.S. authority.



President Trump&#8217;s immigration policies have been a focal point of his administration. Earlier this month, he <a href="https://www.benzinga.com/news/legal/25/06/45786428/trump-shuts-the-door-on-permanent-immigration-and-most-visas-from-these-12-nations">barred </a>nearly all immigration and travel from 12 nations, citing poor vetting and terrorism threats. This move followed the introduction of a new 3.5% tax on remittance transfers from non-citizens, a measure that drew criticism for disproportionately affecting poor migrants.



These policies, along with plans for mass deportations, have drawn attention from economists and investors. They warn that these measures could <a href="https://www.benzinga.com/news/25/03/44067679/trumps-immigration-policy-could-be-the-key-to-inflation-and-market-shifts-investors-warn">significantly impact </a>the U.S. labor market, inflation, and even the Federal Reserve's decisions on interest rates. While tariffs have been a significant focus in financial discussions, the collapse in immigration could have an even more substantial effect on the economy.



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Image via Shutterstock



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

Markets

Tech

'Collapse In Immigration' Poses A Bigger Economic Threat Than Trump's Tariffs, Warns Deutsche Bank: 'Negative Supply Shock Is Not Good News For A Currency'

U.S. stock futures were flat on Monday after closing higher on Friday. Futures of major benchmark indices were mixed in premarket.



The S&amp;P 500 scaled the 6,000 points mark on Friday as Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rebounded after tensions between Elon Musk and President Donald Trump <a href="https://www.benzinga.com/news/politics/25/06/45807968/trump-signals-truce-with-elon-musk-after-online-feud-its-going-very-well-never-done-better">cooled down</a> after a public spat on Thursday.



Friday&#8217;s <a href="https://www.benzinga.com/markets/economic-data/25/06/45818251/trump-cheers-strong-jobs-data-renews-attack-on-feds-powell-rates-should-be-much-lower">jobs report</a> also saw the economy adding 139,000 jobs versus the expectation of 130,000 in May, cheering the equities.



The investors will be on the lookout for May&#8217;s inflation print, which will be announced later this week on Wednesday.



The 10-year Treasury bond yielded 4.48% and the two-year bond was at 4.01%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections show markets pricing a 99.9% likelihood of the Federal Reserve keeping the current interest rates unchanged in its June meeting.



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Dow Jones</td><td>0.12%</td></tr><tr><td>S&amp;P 500</td><td>0.11%</td></tr><tr><td>Nasdaq 100</td><td>-0.01%</td></tr><tr><td>Russell 2000</td><td>0.76%</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 mixed in premarket on Monday. The SPY was up 0.11% at $599.78, while the QQQ declined 0.0038% to $529.90, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From Last Session:



All sectors on the S&amp;P 500 closed <a href="https://www.benzinga.com/markets/equities/25/06/45831332/sp-500-hits-6000-level-following-positive-jobs-data-investor-sentiment-improves-fear-index-remains-in-greed-zone">positively on Friday</a>, led by significant gains in consumer discretionary, energy, and communication services stocks.



However, not all individual companies fared as well. ABM Industries Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABM#NYSE">ABM</a>) shares dropped over 9% after the company released its second-quarter results, and DocuSign Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DOCU#NASDAQ">DOCU</a>) stock plunged 19% following its first-quarter earnings report.



This market reaction followed the release of upbeat jobs data: <a href="https://www.benzinga.com/markets/economic-data/25/06/45818251/trump-cheers-strong-jobs-data-renews-attack-on-feds-powell-rates-should-be-much-lower">nonfarm payrolls increased</a>, surpassing the consensus expectation in May. 



Additionally, average hourly earnings rose by 0.4% in May, marking the strongest monthly increase since January and exceeding the anticipated 0.3%. The U.S. unemployment rate remained steady at 4.2% for May.



<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>1.20%</td><td>19,529.95</td></tr><tr><td>S&amp;P 500</td><td>1.03%</td><td>6,000.36</td></tr><tr><td>Dow Jones</td><td>1.05%</td><td>42,762.87</td></tr><tr><td>Russell 2000</td><td>1.66%</td><td>2,132.25</td></tr></tbody></table></figure>



Insights From Analysts:



After Friday&#8217;s rally, Ryan Detrick took to X and listed the global markets that hit new all-time highs last week.



He said, &#8220;When the US gets to new highs, it really shouldn&#8217;t be a surprise, as the whole globe is in a bull market.&#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">What do Pakistan, Sri Lanka, Canada, South Korea, Ireland, Peru, Mexico, Brazil, South Africa, and Israel all have in common? They all hit new all-time highs last week. When the US gets to new highs, it really shouldn&#39;t be a surprise, as the whole globe is in a bull market.&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1931917377651827147?ref_src=twsrc%5Etfw">June 9, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



He also reshared a post highlighting the strength of retail investor participation in the month of May.



The J.P. Morgan data highlighted in the post shows that retail investors bought $23 billion worth of securities in May, which was $17 billion less than March and April, but it aligned with the average monthly net imbalance for the year of $25 billion.



Despite a slowdown in retail buying in May, Detrick underscored the resilience of retail investors.



&#8220;Retail kept buying in May, even as most on Wall Street told them not to at the start of the month,&#8221; he said.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Retail kept buying in May, even as most on Wall Street told them not to at the start of the month. <a href="https://t.co/IGWOgrxl6c">https://t.co/IGWOgrxl6c</a>&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1931912998416687138?ref_src=twsrc%5Etfw">June 9, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Brock Weimer, the investment strategist at Edward Jones, highlighted that the S&amp;P 500 is set to post earnings growth of nearly 13% in the first quarter, marking the third double-digit earnings growth in the past four quarters.



While earnings estimates have been revised lower for the quarters ahead, full-year estimates are still calling for earnings growth of around 9% for the S&amp;P 500.



&#8220;In our view, single-digit earnings growth is attainable in 2025, given the resilient economic backdrop, which should offer support to equity markets amid the uncertain policy environment,&#8221; he said.



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 this week:



<ul class="wp-block-list">
<li>On Monday, April&#8217;s wholesale inventories data will be released by 10:00 a.m. ET.</li>



<li>On Tuesday, May&#8217;s NFIB optimism index data will be out by 6:00 a.m. ET.</li>



<li>On Wednesday, May&#8217;s headline and core consumer price index data will be released by 8:30 a.m. ET.</li>



<li>May&#8217;s monthly U.S. federal budget data will be announced by 2:00 p.m. ET.</li>
</ul>



<ul class="wp-block-list">
<li>On Thursday, the initial jobless claims data for the week ended June 7 and the headline and core producer price index data for May will be released by 8:30 a.m. ET.</li>



<li>On Friday, the preliminary consumer sentiment data for June will be announced at 10:00 a.m. ET.</li>
</ul>



Stocks In Focus:



<ul class="wp-block-list">
<li>Motorcar Parts of America Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MPAA#NASDAQ">MPAA</a>) jumped 4.45% in premarket on Monday as analysts expect it to report quarterly earnings of 20 cents per share on revenue of $190.70 million, before the opening bell.</li>



<li>Graham Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GHM#NYSE">GHM</a>) gained 4.86% ahead of its earnings, which are supposed to be released before the opening bell. Analysts expect earnings of 19 cents per share on revenue of $55.67 million.</li>



<li>Children&#8217;s Place Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLCE#NASDAQ">PLCE</a>) dropped 22.89% after posting weaker-than-expected results for its first quarter after the closing bell on Friday. The company reported quarterly losses of $1.52 per share, which missed the analyst consensus estimate of losses of 51 cents per share.</li>



<li>IonQ Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IONQ#NYSE">IONQ</a>) rose 3.46% after announcing an agreement to acquire Oxford Ionics.</li>



<li>CERo Therapeutics Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CERO#NASDAQ">CERO</a>) tumbled 15.01% after issuing additional preferred stock shares to institutional investors for ip to $8 million.</li>



<li>IN8bio Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INAB#NASDAQ">INAB</a>) slumped 14.63% after announcing a 1-for-30 reverse stock split effective June 5, 2025.</li>



<li>Davis Commodities Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DTCK#NASDAQ">DTCK</a>) dropped 15.47% after securing approval for a $30 million fundraising plan, with a strategic focus on establishing Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) reserves.</li>



<li>Silo Pharma Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SILO#NASDAQ">SILO</a>) slipped 14.73% after announcing an approval for the purchase of up to $1 million in Bitcoin as a treasury reserve asset.</li>



<li>Opendoor Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>) plunged 13.58% after filing a preliminary proxy statement seeking shareholder approval for a potential reverse stock split at its Special Meeting on July 28.</li>
</ul>



Commodities, Gold, And Global Equity Markets:



Crude oil futures were trading higher in the early New York session by 0.03% to hover around $64.60 per barrel.



Gold Spot US Dollar rose 0.33% to hover around $3,321.09 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was lower by 0.35% at the 98.8460 level.



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



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/macro-economic-events/25/06/45832125/as-trump-flames-powell-for-holding-back-on-rate-cuts-economists-divided-on-feds-app">As Trump Flames Powell For Holding Back On Rate Cuts, Economists Divided On Fed&#8217;s Approach</a><span class="author" style="box-sizing: border-box; border: 0px solid rgb(229, 231, 235); --tw-scale-x: 1; --tw-scale-y: 1; --tw-pan-x: ; --tw-pan-y: ; --tw-pinch-zoom: ; --tw-scroll-snap-strictness: proximity; --tw-gradient-from-position: ; --tw-gradient-via-position: ; --tw-gradient-to-position: ; --tw-ordinal: ; --tw-slashed-zero: ; --tw-numeric-figure: ; --tw-numeric-spacing: ; --tw-numeric-fraction: ; --tw-ring-inset: ; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246/0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; --tw-blur: ; --tw-brightness: ; --tw-contrast: ; --tw-grayscale: ; --tw-hue-rotate: ; --tw-invert: ; --tw-saturate: ; --tw-sepia: ; --tw-drop-shadow: ; --tw-backdrop-blur: ; --tw-backdrop-brightness: ; --tw-backdrop-contrast: ; --tw-backdrop-grayscale: ; --tw-backdrop-hue-rotate: ; --tw-backdrop-invert: ; --tw-backdrop-opacity: ; --tw-backdrop-saturate: ; --tw-backdrop-sepia: ; --tw-contain-size: ; --tw-contain-layout: ; --tw-contain-paint: ; --tw-contain-style: ;"></li>
</ul>



Photo courtesy: godongphoto / Shutterstock.com

$BTC

CERO

DOCU

DTCK

INAB

IONQ

MPAA

OPEN

PLCE

SILO

US Stocks Likely To Open On A Mixed Note After S&P 500 Scales 6,000-Mark: 'Whole Globe Is In A Bull Market'

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



U.S. stocks settled higher on Friday, with the Dow Jones index gaining more than 400 points during the session following the release of jobs data.



Nonfarm payrolls rose by 139,000 in May, beating consensus expectations of 130,000, according to data released Friday by the Bureau of Labor Statistics. Average hourly earnings rose 0.4% in May, the strongest monthly increase since January and ahead of the expected 0.3%. The US unemployment rate came in steady at 4.2% for May.



Shares of ABM Industries Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABM#NYSE">ABM</a>) fell more than 9% on Friday after the company reported results for the second quarter. DocuSign Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DOCU#NASDAQ">DOCU</a>) shares dipped 19% during the session following first-quarter results.



All sectors on the S&amp;P 500 closed on a positive note, with consumer discretionary, energy and communication services stocks recording the biggest gains on Friday.



The Dow Jones closed higher by around 443 points to 42,762.87 on Friday. The S&amp;P 500 rose 1.03% to 6,000.36, while the Nasdaq Composite climbed 1.20% to 19,529.95 during Friday's session.



Investors are awaiting earnings results from Motorcar Parts of America Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MPAA#NASDAQ">MPAA</a>), Graham Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GHM#NYSE">GHM</a>) and Casey&#8217;s General Stores Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CASY#NASDAQ">CASY</a>) today.



What is CNN Business Fear &amp; Greed Index?



At a current reading of 63.3, the index remained in the &#8220;Greed&#8221; zone on Friday, versus a prior reading of 59.4.



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



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/06/45811726/cramer-says-hes-not-going-to-really-want-to-do-a-lot-of-china-right-now">Cramer Says He&#8217;s &#8216;Not Going To Really Want To Do A Lot Of China Right Now&#8217;</a> </li>
</ul>



Photo courtesy: Shutterstock

Pre-Market Outlook

CASY

S&P 500 Hits 6,000 Level Following Positive Jobs Data: Investor Sentiment Improves, Fear Index Remains In 'Greed' Zone

Leading cryptocurrencies were little changed Sunday ahead of the trade negotiations between officials of U.S. and China in London.



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 9:15 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>+0.14%</td><td>$105,734.18</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>-0.44%</td><td>$2,503.70</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+0.29%</td><td>$0.1882</td></tr></tbody></table></figure>



What Happened: Bitcoin spiked above $106,000 in the evening, only to correct to the $105,000 region overnight.&nbsp;



Ethereum experienced a similar trajectory, bumping an intraday high of $2,547.47 before correcting later in the evening.



Bitcoin enjoyed a 63.7% share of the market as of this writing, while Ethereum's dominance remained above 9%.



About $107 million was liquidated from the cryptocurrency market in the last 24 hours, with nearly equal amounts of longs and shorts wiped out. That said, nearly $350 million worth of bearish bets on Bitcoin risked liquidation if the apex cryptocurrency rallies to $108,000



Bitcoin's Open Interest dipped by 0.50% in the last 24 hours. Interestingly, nearly 60% of Binance traders with open BTC positions were positioned short, anticipating further downsides.



The "Greed" sentiment showed a reading of 62, according to the Crypto Fear &amp; Greed Index, unchanged in the last 24 hours.



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 9:15 p.m. ET)</th></tr></thead><tbody><tr><td>SPX6900 (SPX)</td><td>+9.44%</td><td>$1.26</td></tr><tr><td>Internal Computer (ICP) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+6.34%</td><td>$5.53</td></tr><tr><td>Raydium (RAY)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+6.03%</td><td>$2.29 </td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.3 trillion, following a modest increase of 0.30% in the last 24 hours.&nbsp;



Stock futures inched lower overnight Sunday. The Dow Jones Industrial Average Futures fell 47 points, or 0.11%, as of 9:24 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 dipped 0.15%, while Nasdaq 100 Futures slid 0.23%.



Investors brace for a big week ahead as officials from the U.S. and China are <a href="https://truthsocial.com/@realDonaldTrump/posts/114637838750311907">expected</a> to hold trade talks on Monday.&nbsp;



The week will also see a slew of inflation-related data, including the consumer price index and the producer price index.



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



Analyst Notes: Cryptocurrency analyst and trader Rekt Capital noted that Bitcoin has broken its two-week downtrend.



"Now, Bitcoin is trying to challenge the $106,600 resistance (black). Some light rejection here would be normal. But the goal is for Bitcoin to daily close above black for continued bullish bias," the analyst 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"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> Bitcoin has broken its two-week Downtrend (light blue) Now, Bitcoin is trying to challenge the $106600 resistance (black) Some light rejection here would be normal But the goal is for Bitcoin to Daily Close above black for continued bullish bias<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/mDiZnYvT6N">https://t.co/mDiZnYvT6N</a> <a href="https://t.co/6xmlK5Y3g5">pic.twitter.com/6xmlK5Y3g5</a>&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1931766314093146268?ref_src=twsrc%5Etfw">June 8, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Another widely followed commentator, Michaël van de Poppe, said a pullback to $103,000 could be a "tremendous opportunity" to buy more Bitcoin.



"Above $106,000 is an elevator towards a new ATH and likely $120,000+ in Q3," the analyst 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/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> prepares itself for the next rally towards a new ATH. If the markets corrects to $103K, that&#39;s a tremendous opportunity to get yourself some more Bitcoin. Above $106K is an elevator towards a new ATH and likely $120k+ in Q3. <a href="https://t.co/tpgyRJCCPq">pic.twitter.com/tpgyRJCCPq</a>&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1931731694832206129?ref_src=twsrc%5Etfw">June 8, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo Courtesy: Antonio Gravante On Shutterstock.com



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



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45777944/jpmorgan-to-accept-crypto-linked-etfs-as-loan-collateral">JPMorgan To Accept Crypto-Linked ETFs As Loan Collateral</a></li>
</ul>

Cryptocurrency

Movers

Trading Ideas

$DOGE

$ETH

Bitcoin, Dogecoin Flat, Ethereum Dips Ahead Of US-China Trade Talks: $106,000 An Elevator Toward A New BTC All-Time High, Says Analyst

On Sunday, California Governor Gavin Newsom called on President Donald Trump to rescind the deployment of National Guard troops in Los Angeles, arguing that it is a violation of the state&#8217;s sovereignty and only exacerbates tensions amid ongoing protests.



What Happened: Newsom&#8217;s request came after law enforcement officers in Los Angeles used tear gas and rubber bullets against protesters in response to the Trump administration's decision to send federal troops into the city, <a href="https://apnews.com/article/immigration-protests-raids-los-angeles-78eaba714dbdd322715bf7650fb543d7">reported</a> the Associated Press.



The deployment, which included around 300 National Guard members, was part of Trump&#8217;s broader effort to crack down on immigration protests.



In a statement on X, formerly Twitter, Newsom said, "I have formally requested the Trump Administration rescind their unlawful deployment of troops in Los Angeles county and return them to my command."&nbsp;



"We didn't have a problem until Trump got involved. This is a serious breach of state sovereignty — inflaming tensions while pulling resources from where they're actually needed," he continued, adding, "Rescind the order. Return control to California."



See Also:&nbsp;<a href="https://www.benzinga.com/markets/equities/25/05/45187535/scott-bessent-defends-trumps-economic-agenda-as-engine-designed-to-drive-economic-growth-despite-gdp-contraction-and-falling-approval" target="_blank" rel="noreferrer noopener">Scott Bessent Defends Trump's Economic Agenda As ‘Engine Designed To Drive Economic Growth,' Despite GDP Contraction And Falling Approval</a>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I have formally requested the Trump Administration rescind their unlawful deployment of troops in Los Angeles county and return them to my command. We didn't have a problem until Trump got involved. This is a serious breach of state sovereignty — inflaming tensions while… <a href="https://t.co/tOtA5dcfxc">pic.twitter.com/tOtA5dcfxc</a>&mdash; Gavin Newsom (@GavinNewsom) <a href="https://twitter.com/GavinNewsom/status/1931840646773715068?ref_src=twsrc%5Etfw">June 8, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Earlier, Trump took to Truth Social and stated, "A once great American City, Los Angeles, has been invaded and occupied by <a href="https://www.benzinga.com/news/25/05/45188594/trump-says-i-dont-know-when-asked-if-he-has-to-uphold-the-constitution-when-it-comes-to-mass-deportations">Illegal Aliens and Criminals</a>," adding, "Order will be restored, the Illegals will be expelled, and Los Angeles will be set free."



<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/08211156/Screenshot-2025-06-09-at-6.41.47%E2%80%AFAM-1024x705.png" alt="" class="wp-image-942495"/><figcaption class="wp-element-caption">Source: Truth Social </figcaption></figure>



Why It's Important: The National Guard was deployed after two days of protests that started on Friday in downtown Los Angeles and expanded by Saturday to Paramount — a predominantly Latino community south of the city — and nearby Compton, the report noted, accoridng to the Press.



On Saturday, federal agents established a staging point near a Home Depot in Paramount. Protesters attempted to obstruct Border Patrol vehicles, with some throwing rocks and chunks of concrete.



In response, agents in riot gear used tear gas, flash-bang grenades and pepper balls to disperse the crowd.



Trump has defended the deployment, stating it was necessary due to what he described as Democratic leaders like Governor Newsom failing to control demonstrations aimed at immigration authorities, the report said.



This marked what appeared to be the first instance in decades where the National Guard was activated in a state without the governor&#8217;s approval.



The last such federal activation of the National Guard without a governor's consent occurred in 1965, when President Lyndon B. Johnson sent troops to protect civil rights marchers in Alabama, the report noted, citing Brennan Center for Justice.



Photo Courtesy: Sheila Fitzgerald on Shuttertsock.com



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<li><a href="https://www.benzinga.com/general/education/25/05/45187710/peter-schiff-says-trumps-100-tariff-on-foreign-films-pointless-without-targeting-streamingwarns-netflix-subscribers-would-bear-cost" target="_blank" rel="noreferrer noopener">Peter Schiff Says Trump's 100% Tariff On Foreign Films ‘Pointless,' Warns Netflix Subscribers Would Bear Cost</a></li>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Government

Regulations

Media

Gavin Newsom Calls Deployment Of National Guard In Los Angeles 'Unlawful,' Says There Was No Problem Until Trump Got Involved: 'Serious Breach Of State Sovereignty'

SpaceX and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk flexed the company's rockets amid a war of words with President Donald Trump on Sunday. What Happened: On Sunday, Musk took to X, formerly Twitter and said, "Whatever happens, we have got the spaceships, and they do not."



<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">Whatever happens, we have got the spaceships, and they do not&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1931806069220954360?ref_src=twsrc%5Etfw">June 8, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Notably, Musk&#8217;s comments came after the tech mogul conducted a poll on X, where he asked his over 220 million followers about <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45830251/elon-musks-political-party-to-launch-in-2025-odds-rise-on-polymarket-the-crypto-betting-market-now-partnered-with-x">forming a new political party</a> in the U.S. An overwhelming 80.4% responded in favor.



Responding to Musk's post, Rep. Thomas Massie (R-Ky.) replied, "I don't know if I'm part of ‘we' but I would like to formally disassociate myself from the group herein referred to as ‘they.'"



Musk quickly said, "You're definitely not ‘they' and are welcome to be part of ‘we'," to which Massie responded with, &#8220;Count me in."



See Also: <a href="https://www.benzinga.com/markets/market-summary/25/06/45829811/cathie-wood-praises-elon-musk-says-he-is-the-thomas-edison-of-our-age-names-tesla-as-her-no-1-stock-pick-for-the-long-term">Cathie Wood Praises Elon Musk, Says He Is &#8216;The Thomas Edison Of Our Age&#8217;, Names Tesla As Her No. 1 Stock Pick For The Long Term</a>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f603; Count me in. &#x1f44d;&mdash; Thomas Massie (@RepThomasMassie) <a href="https://twitter.com/RepThomasMassie/status/1931861335278788800?ref_src=twsrc%5Etfw">June 8, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Why It&#8217;s Important: On Friday, the Tesla CEO floated a possible name, "The America Party," following the poll results.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The America Party <a href="https://t.co/hO5S8Kjb5O">https://t.co/hO5S8Kjb5O</a>&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1931112942495523014?ref_src=twsrc%5Etfw">June 6, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The rift between Musk and Trump could have serious <a href="https://www.benzinga.com/trading-ideas/movers/25/06/45805173/musk-vs-trump-tesla-suffers-record-152b-one-day-crash-as-ceo-warns-tariffs-will-cause-a-recession">implications for Musk's companies</a>, including Tesla and SpaceX, the billionaire's space technology company, particularly if threats to revoke federal contracts and subsidies are carried out.



Tesla&#8217;s market capitalization dropped by a record $152 billion, knocking the company out of the $1 trillion club following Musk's public criticism of Trump's &#8220;Big Beautiful Bill.&#8221;



Adding to the pressure, former White House official Steven Bannon has called for a federal investigation into <a href="https://www.benzinga.com/news/politics/25/06/45829875/elon-musk-reportedly-slammed-into-scott-bessent-like-a-rugby-player-after-being-called-a-fraud-trump-said-this-is-too-much">Musk's immigration status</a>, even suggesting that the South African-born U.S. citizen should be deported.&nbsp;



He also called on Trump to seize control of SpaceX. He said that he is not asking for the nationalization of SpaceX, but the administration should make sure that the company is not spearheaded by <a href="https://www.benzinga.com/cannabis/25/05/45700477/elon-musk-was-using-drugs-while-on-campaign-trail-with-trump-including-ecstasy-and-psychedelic-mushrooms">someone who has drug issues</a>.



Over the weekend, it was reported that two White House officials have confirmed that the public dispute between Trump and Musk <a href="https://www.benzinga.com/news/politics/25/06/45829923/trump-and-musk-aides-have-spoken-as-tensions-cool-between-the-billionaire-and-the-president">has been temporarily paused</a>.



Price Action: Tesla shares have declined by 14.11% over the past five days, based on data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.



According to Benzinga's Edge Stock Rankings, while the stock is experiencing short and medium-term downward trends, its long-term prospects are still viewed as favorable. For more in-depth metrics, <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">click 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/2025/06/08223946/Screenshot-2025-06-09-at-8.08.11%E2%80%AFAM.png" alt="" class="wp-image-942542"/></a></figure>



Photo Courtesy: RKY Photo on Shutterstock.com



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<li><a href="https://www.benzinga.com/25/05/45396297/cathie-wood-dumps-palantir-as-stock-touches-peak-prices-bails-on-soaring-flying-taxi-maker-archer-aviation" target="_blank" rel="noreferrer noopener">Cathie Wood Dumps Palantir As Stock Touches Peak Prices, Bails On Soaring Flying-Taxi Maker Archer Aviation</a></li>
</ul>



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

Elon Musk Flexes SpaceX Advantage In Feud With Trump: 'We Have Got The Spaceships And They Do Not' — Gets Support From This Republican

Oracle of Omaha Warren Buffett was rejected from Harvard University as a 19-year-old, but came to regard the rejection as one of the best things that ever happened to him.



What Happened: Speaking <a href="https://www.youtube.com/watch?v=SVlJdHGMl4Q">at</a> the University of Nebraska in 2003, the Berkshire Hathaway CEO shared how he obtained the Nathan Gold Scholarship, which offered $500 to attend any graduate school. "I went there to this room at 3:00 that day or whatever it was and I walked in the room and there were the professors and I was the only student that showed up," he recalled. 



"I won $500 by default… those are usually my biggest triumphs when nobody else shows up."



With the scholarship, Buffett applied to Harvard, but after meeting the interviewer, his Harvard hopes came crashing down. "After about 10 minutes he said, ‘Better think about something else.' I was 19 at the time and I looked about 12 and I acted about eight. It was not a great combination."



The rejection hit hard. "All the time I'm thinking, you know, what do I tell my parents? It's kind of embarrassing." But what followed, Buffett said, was "the luckiest thing that ever happened to me."



See Also: <a href="https://www.benzinga.com/news/25/06/45737967/charlie-mungers-life-advice-someone-will-always-be-getting-richer-faster-than-you-this-is-no-great-t">Charlie Munger&#8217;s Life Advice: &#8216;Someone Will Always Be Getting Richer Faster Than You, This Is No Great Tragedy&#8217;</a>



Why It Matters: After this failed interview, Buffett applied to Columbia Business School, where he enrolled in a one-year master's program. "I got to meet Ben Graham, which had an enormous effect on me," he said. It also allowed him to graduate early, and <a href="https://www.benzinga.com/personal-finance/25/03/44182984/warren-buffett-spent-71-years-of-his-life-married-and-says-the-secret-to-a-long-lasting-marriage-is-finding-someone-with-low-expectations">find a partner</a> as well: "I probably <a href="https://www.benzinga.com/personal-finance/25/05/45602473/warren-buffett-calls-letting-first-wife-move-out-his-biggest-mistake-admits-it-was-99-his-fault-yet-she-introduced-him-to-his-current-wife">got my wife</a> that way… I got her before the competition showed up."



In Buffett's view, such detours are crucial in life. "You will get <a href="https://www.benzinga.com/news/25/03/44238467/warren-buffett-shares-biggest-investing-mistakes-433m-deal-that-cost-berkshire-billions-and-trillion-dollar-tech-stocks-he-missed">some disappointments</a>, but the future is what counts," he said. "It would not be fun if I knew every decision I was going to make was going to be perfect. It'd be like playing golf and knowing you're going to hit a hole-in-one on every hole."



He stressed that failures—or <a href="https://www.benzinga.com/general/education/25/05/45602754/warren-buffett-investment-success-3-simple-rules-to-copy-oracle-of-omaha">what seem to be failures</a>—are simply part of the game. "If you take big swings, <a href="https://www.benzinga.com/personal-finance/25/03/44316684/warren-buffett-said-bad-news-is-an-investors-best-friend-and-if-youre-not-ready-for-stocks-to-drop-50-you-shouldnt-be-investing">you may miss sometimes</a>." About the rejection, he said, "It worked out wonderfully. It couldn't have worked out better," He even joked about Harvard's ‘mistake' of rejecting him: "Now that I've met the people that got in the class, I'm really sure they made a mistake."



Read Next: <a href="https://www.benzinga.com/news/movers-shakers/25/06/45761617/here-are-the-highest-paid-ceos-in-2024-where-did-elon-musk-warren-buffett-rank">Here Are The Highest Paid CEOs In 2024: Where Did Elon Musk, Warren Buffett Rank?</a>



Photo Agency on Shutterstock

Education

General

Warren Buffett Got Rejected By Harvard — And Says It Was 'The Luckiest Thing That Ever Happened To Me:' Here's Why

NASA has postponed the next potential flight of Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>)&#8217;s Starliner spacecraft to 2026. This delay affects a crucial milestone for the vehicle, which is intended to be an alternative to SpaceX&#8216;s Dragon spacecraft.



What Happened: NASA had initially indicated that Starliner&#8217;s next mission to the International Space Station (ISS) might occur by the end of this year. However, NASA is still determining whether the upcoming flight will include astronauts or only cargo, according to a report<a href="https://www.bloomberg.com/news/articles/2025-06-06/nasa-delays-next-flight-of-boeing-s-alternative-to-spacex-dragon"> by</a> Bloomberg.



The delay underscores NASA&#8217;s dependence on SpaceX and its CEO, Elon Musk. Musk recently <a href="https://www.benzinga.com/news/space/25/06/45808621/after-threatening-to-scrap-dragon-spacecraft-amid-tussle-with-trump-musk-backs-down-following-social-media-plea-good-advice">threatened to decommission the Dragon spacecraft</a> amid a public dispute with President Donald Trump, but later confirmed it would remain operational.



See Also: <a href="https://benzinga.com/news/politics/25/06/45808431/xi-has-bowed-to-reality-says-china-analyst-urges-more-engagement-between-leaders-to-resolve-trade-i">Xi Has &#8216;Bowed To Reality,&#8217; Says China Analyst, Urges More Engagement Between Leaders To Resolve Trade Issues: &#8216;No Substitute For Direct Negotiations With Trump&#8217;</a>



Starliner, the sole U.S. alternative for crew transport to the ISS, has faced challenges. A failed test flight in 2024 left two astronauts stranded on the ISS for over nine months, and the vehicle has yet to be certified for human transport. Due to engine issues with Starliner, NASA relied on SpaceX&#8217;s Dragon to return the astronauts safely.



Why It Matters: The delay in Starliner&#8217;s flight is part of a series of setbacks for Boeing (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) and its spacecraft program. The company has already invested over $2 billion in the Starliner project, which has been plagued by technical issues and financial overruns.



These challenges have made the<a href="https://www.benzinga.com/25/02/43638821/boeing-has-spent-2-billion-on-the-starliner-debacle-as-musks-spacex-set-to-rescue-the-stranded-astronauts"> Starliner one of the most expensive</a> commercial space missions ever.



In March 2025, <a href="https://www.benzinga.com/25/03/44539316/nasa-and-boeing-push-forward-with-starliner-crew-certification">NASA and Boeing</a> were reportedly working to resolve the technical issues and move forward with crew certification. However, the ongoing troubles have led Boeing to<a href="https://www.benzinga.com/news/24/10/41562455/boeing-looks-to-offload-starliner-spacecraft-nasa-business-as-troubles-mount-report"> consider selling its Starliner</a> and NASA operations in October 2024.



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



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/space/25/06/45808621/after-threatening-to-scrap-dragon-spacecraft-amid-tussle-with-trump-musk-backs-down-following-social-media-plea-good-advice">After Threatening To Scrap Dragon Spacecraft Amid Tussle With Trump, Musk Backs Down Following Social Media Plea: &#8216;Good Advice&#8217;</a></li>
</ul>



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



Photo courtesy: Pandora Pictures / Shutterstock.com

SPACE

NASA Delays Boeing Starliner Flight To 2026 Amid Ongoing Technical Challenges

After a strong earnings response from Argan Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGX#NYSE">AGX</a>), traders now look cautious about future upside, especially as earnings per share and growth expectations trim back. With high implied volatility and a likely consolidation period, this is the perfect time to sell options on the stock and turn that volatility into revenue.



The best trade in AGX&#8217;s situation is a short iron condor into July's expiration, as it&#8217;s a solid and low-risk way to collect revenue. 



A short iron condor is a limited-risk options trade in which we sell both a call spread and a put spread. Essentially, we&#8217;re collecting revenue from high options volatility while presenting a scenario where prices are bound within a range. 



The short iron condor requires margin that is calculated by noting the distance between the long strike and the short strike. In this case, that margin number is $1,000 for each iron condor sold:



<ul class="wp-block-list">
<li>Sell to open 1 AGX 18Jul 240 calls </li>



<li>Buy to open 1 AGX 18Jul 250 calls </li>



<li>Sell to open 1 AGX 18Jul 160 puts </li>



<li>Buy to open 1 AGX 18Jul 150 puts </li>
</ul>



I picked these strike prices because the relative resistance zone sits right around $220, while support sits near $170.&nbsp;



The short iron condor above yields a credit of $4.87 at this writing, which will define the maximum gain if the prices stay between $240 and $160.



The breakeven prices of the stock at expiration on this trade are $234.87 on the upper bound and $145.13 on the lower bound. If prices hold between these ranges, we will leave the trade with a 100% profit at expiration. 



As for risk, the margin requirement is $1,000 (for each short iron condor) minus the credit collected ($487), which exposes us to $513 of risk if prices expand outside our breakeven calculations above. 



<h2 class="wp-block-heading">Double the Opportunity: Chris Capre's Strategy for Trading the Fed Before &amp; After the Meeting</h2>



Volatility is heating up—and the next Fed decision lands just days after this live session. On Wednesday, June 11 at 6 PM ET, options expert Chris Capre will reveal the trades he's setting up before the next FOMC meeting—and the post-announcement moves he's targeting once the dust settles. You'll get his full strategy for trading both sides of this catalyst using precision setups in tech, financials, and index ETFs. Reserve your free spot <a href="https://events2.benzinga.com/chris-capre-webinar-wed-june11-2025/?utm_campaign=webinar061125&amp;utm_adType=RD050925&amp;utm_ad=061125">HERE</a>.



I see three possible ways to leave the trade:



<ol class="wp-block-list">
<li>Buy the short iron condor back when it has accumulated a predefined profit for your trading style – we have 44 days of premium on our side with this kind of trade, so as long as both support and resistance hold, the trade premise remains valid. Consider leaving the trade with a minimum of 12 days to expiration. That said, as volatility affects option prices quite dramatically inside the time frame of 21 days, make sure you have price alerts set for the upper and lower short strikes. </li>



<li>Set alerts for $240 and $150. If prices break these levels, allow 3-5 days for recovery else, exiting the trade is the most prudent. </li>



<li>Buy the short iron condor back when it hits a predefined stop or risk limit for your trading style. You could choose a loss percentage, or you could also set additional alerts that are inside the boundaries &#8211; $220 and $170 – which will alert you to potential outside movement affecting your profit.</li>
</ol>



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

How I'm Trading This Soaring Stock After Earnings

Benzinga examined the prospects for <a href="http://www.benzinga.com/trading-ideas" target="_blank" rel="noreferrer noopener">many investors' favorite stocks</a> over the last week — here's a look at some of our top stories.



U.S. markets closed higher this week, buoyed by a stronger-than-expected May jobs report. The economy added 139,000 jobs, surpassing forecasts and easing recession fears. The S&amp;P 500 rose 1.5%, the Dow Jones Industrial Average gained 1.2%, and the Nasdaq Composite climbed 2.2%. The Russell 2000 outperformed with a 3.2% increase, reflecting optimism in domestic small-cap stocks. The 10-year Treasury yield rose to 4.51%, as investors moved away from bonds amid improving economic sentiment.



Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) experienced significant volatility due to the public feud between CEO Elon Musk and President Donald Trump. After Musk criticized Trump's spending policies, Tesla's stock plunged 14%, erasing $150 billion in market value. However, the stock rebounded 3.7% on Friday as tensions appeared to ease. Despite the rebound, Tesla remains down 27% for the year. investopedia.com



Trump celebrated the strong jobs data but renewed pressure on the Federal Reserve to cut interest rates, citing concerns over borrowing costs. The Fed has maintained current rates, citing inflation concerns tied to trade policies. Meanwhile, upcoming U.S.-China trade talks in London are anticipated, with investors hopeful for progress that could further stabilize markets.



Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week's most bullish and bearish posts that are worth another look.







The Bulls



<a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/06/45750281/spotify-stock-smashes-records-goldman-sees-200-billion-music-streaming-market-by-2035">"Spotify stock smashes records: Goldman sees $200 billion music streaming market by 2035"</a>, by Piero Cingari, reports that Spotify Technology S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) shares surged to a record high of $675 after Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) projected the global music market will nearly double to $197 billion by 2035, driven by emerging markets and new monetization strategies like concert ticketing and superfan tiers.



<a href="https://www.benzinga.com/trading-ideas/short-ideas/25/06/45745566/applied-digitals-stunning-48-rally-may-put-shorts-on-the-run">"Applied Digital's stunning 48% rally may put shorts on the run"</a>, by Surbhi Jain, reports that Applied Digital Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLD#NASDAQ">APLD</a>) shares surged nearly 50% after securing a $7 billion, 15-year lease deal with CoreWeave Inc., potentially triggering a short squeeze amid 30% short interest.



<a href="https://www.benzinga.com/markets/earnings/25/06/45781511/planet-labs-stock-soars-after-q1-revenue-beats-estimates">"Planet Labs stock soars after Q1 revenue beats estimates"</a>, by Erica Kollmann, reports that Planet Labs PBC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PL#NYSE">PL</a>) shares surged nearly 50% after the company posted Q1 revenue of $66.3 million—beating estimates—and achieved breakeven adjusted earnings alongside its first-ever positive free cash flow, prompting a raised full-year outlook amid strong demand for AI-driven satellite services.



For additional bullish calls of the past week, check out the following:



<a href="https://www.benzinga.com/news/space/25/06/45776611/ast-spacemobile-stock-climbs-after-analyst-flags-potential-investment-from-amazons-jeff-bezos">AST SpaceMobile Stock Climbs After Analyst Flags Potential Investment From Amazon's Jeff Bezos</a>



<a href="https://www.benzinga.com/news/sports/25/06/45812523/manchester-united-stock-jumps-after-q3-profit-turnaround-matchday-growth-and-stadium-plans">Manchester United Stock Jumps After Q3 Profit Turnaround, Matchday Growth, And Stadium Plans</a>



<a href="https://www.benzinga.com/news/health-care/25/06/45776552/why-is-sharps-technology-stock-soaring-on-wednesday">Why Is Sharps Technology Stock Soaring On Wednesday?</a>







The Bears



<a href="https://www.benzinga.com/markets/earnings/25/06/45803051/docusign-stock-plummets-after-q1-earnings-report-details">"DocuSign stock plummets after Q1 earnings report: Details"</a>, by Erica Kollmann, reports that DocuSign Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DOCU#NASDAQ">DOCU</a>) shares fell nearly 19% after the company beat Q1 earnings and revenue estimates but missed billings expectations and lowered its full-year outlook, attributing the shortfall to disruptions from its transition to an AI-driven agreement platform.



<a href="https://www.benzinga.com/markets/earnings/25/06/45782126/calvin-klein-parent-pvh-stock-drops-after-q1-report-cut-full-year-outlook">"Calvin Klein parent PVH stock drops after Q1 report, cut full-year outlook"</a>, by Erica Kollmann, reports that PVH Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PVH#NYSE">PVH</a>) shares fell over 17% after the company beat Q1 earnings and revenue estimates but lowered its full-year EPS guidance due to a $65 million tariff impact and macroeconomic headwinds, despite strong performance from Tommy Hilfiger and a viral Calvin Klein campaign featuring Bad Bunny.



<a href="https://www.benzinga.com/markets/earnings/25/06/45805010/petco-stock-drops-after-q1-revenues-miss-details">"Petco stock drops after Q1 revenues miss: Details"</a>, by Erica Kollmann, reports that Petco Health and Wellness Co. Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WOOF#NASDAQ">WOOF</a>) shares fell over 10% after the company reported Q1 revenue of $1.49 billion—missing estimates—and a 1.3% decline in comparable sales, though it met EPS expectations and reaffirmed its fiscal 2025 outlook.



For more bearish takes, be sure to see these posts:



<a href="https://www.benzinga.com/markets/earnings/25/06/45781050/chargepoint-stock-sinks-after-q1-revenues-miss-weak-q2-guidance-details">ChargePoint Stock Sinks After Q1 Revenues Miss, Weak Q2 Guidance: Details</a>



<a href="https://www.benzinga.com/markets/large-cap/25/06/45745834/nio-stock-drops-after-q1-results-and-outlook-disappoints-the-street-margins-shrink">Nio Stock Drops After Q1 Results And Outlook Disappoints The Street, Margins Shrink</a>



<a href="https://www.benzinga.com/trading-ideas/movers/25/06/45759307/sportsmans-warehouse-stock-tanks-after-q1-earnings-revenues-miss-details">Sportsman's Warehouse Stock Tanks After Q1 Earnings, Revenues Miss: Details</a>







Keep up with all the latest breaking news and trading ideas by following <a href="https://twitter.com/Benzinga" target="_blank" rel="noreferrer noopener">Benzinga</a><a href="http://twitter.com/Benzinga" target="_blank" rel="noreferrer noopener"> on X</a>.



Image created using artificial intelligence via Midjourney.

APLD

ASTS

CHPT

MANU

SPOT

SPWH

STSS

WOOF

Benzinga Bulls And Bears: Spotify, Applied Digital, DocuSign — And Tesla Swings On Musk-Trump Feud

Each week, Benzinga's Stock Whisper Index uses a combination of proprietary data and pattern recognition to showcase five stocks that are just under the <a href="https://www.benzinga.com/topic/stock-whisper-index" target="_blank" rel="noreferrer noopener">surface and deserve attention</a>.



Investors are constantly on the hunt for undervalued, under-followed and emerging stocks. With countless methods available to retail traders, the challenge often lies in sifting through the abundance of information to uncover new opportunities and understand why certain stocks should be of interest.



Read Also: <a href="https://www.benzinga.com/trading-ideas/long-ideas/25/06/45750724/exclusive-mays-20-most-searched-tickers-on-benzinga-pro-where-do-apple-palantir-coreweave-nvidia-rank" target="_blank" rel="noreferrer noopener">EXCLUSIVE: May&#8217;s 20 Most-Searched Tickers On Benzinga Pro — Where Do Apple, Palantir, CoreWeave, Nvidia Rank?</a>



Here&#8217;s a look at the Benzinga Stock Whisper Index for the week ending June 6:



TTM Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTMI#NASDAQ">TTMI</a>): the technology solutions company saw strong interest from readers during the week with no major news reported. The stock has been soaring over the last year, hitting new all-time highs recently. On May 9, the company announced a $100 million share buyback that could help boost future earnings per share. The company beat analyst estimates for earnings per share in the first quarter, marking two straight beats and beating analyst estimates for eps in seven of the last eight quarters. The lone non-beat was an in-line figure in that time period. The company also beat analyst revenue projections in the first quarter, marking five straight quarterly beats. The stock was up around 5% over the last week, as shown on the<a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0606"> Benzinga Pro chart</a> below.



<figure class="wp-block-image size-full"><a href=" https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0606"><img loading="lazy" decoding="async" width="997" height="496" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06174712/Screenshot-439.png" alt="" class="wp-image-941858" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06174712/Screenshot-439.png 997w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06174712/Screenshot-439-300x149.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06174712/Screenshot-439-768x382.png 768w" sizes="(max-width: 997px) 100vw, 997px" /></a></figure>



Shell PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>): The oil and gas stock saw increased interest from readers during the week with minimal news. The big news for the sector in recent weeks was the decision by OPEC to keep output unchanged after discussing increasing output for the month of July. This decision could keep the price of oil steady. In May, the company announced quarterly results with earnings per share beating analyst estimates and revenue missing estimates. In May, the company also <a href="https://www.benzinga.com/news/large-cap/25/05/45664619/shell-boosts-nigerian-deepwater-assets-with-totalenergies-stake-purchase">announced a deal</a> between its Nigeria Exploration segment and TotalEnergies SE's Nigeria Limited segment, which increases Shell's total ownership from 55% to 67.5%. The deal comes as Shell is looking to increase its total production annually.



<figure class="wp-block-image size-full"><a href=" https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0606"><img loading="lazy" decoding="async" width="993" height="502" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06174727/Screenshot-440.png" alt="" class="wp-image-941859" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06174727/Screenshot-440.png 993w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06174727/Screenshot-440-300x152.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06174727/Screenshot-440-768x388.png 768w" sizes="(max-width: 993px) 100vw, 993px" /></a></figure>



Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>): The music streaming company saw shares hit all-time highs thanks to some analyst upgrades and notes. A <a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/06/45750281/spotify-stock-smashes-records-goldman-sees-200-billion-music-streaming-market-by-2035">report from Goldman Sachs</a> said the global music market could double in size over the next decade with Spotify a potential winner. The report predicts global paid subscribers for music streaming will hit 1.51 billion by 2035 with 75% of the growth coming from emerging markets. Spotify had a 35% market share for global paid music streaming in 2024 with 263 million subscribers. Goldman Sachs said Spotify could further monetize their user base with fan promotions and selling concert tickets. JPMorgan also recently raised the price target on Spotify from $670 to $730 while maintaining an Overweight rating. Canaccord recently maintained a Buy rating and raised the price target from $700 to $775. Another item potentially helping Spotify could be a rush of Taylor Swift fans, aka Swifties, to the platform to <a href="https://www.benzinga.com/news/entertainment/25/06/45783291/spotify-early-winner-from-taylor-swift-buying-back-old-albums-a-love-story-for-fans-streaming-company">listen to her older songs</a> and records now that she owns the rights to all of her music.



<figure class="wp-block-image size-full"><a href=" https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0606"><img loading="lazy" decoding="async" width="1005" height="505" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06174740/Screenshot-441.png" alt="" class="wp-image-941860" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06174740/Screenshot-441.png 1005w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06174740/Screenshot-441-300x151.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06174740/Screenshot-441-768x386.png 768w" sizes="(max-width: 1005px) 100vw, 1005px" /></a></figure>



Cellebrite (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLBT#NASDAQ">CLBT</a>): Digital intelligence company Cellebrite saw increased interest from readers during the week, likely the result of the company announcing its <a href="https://investors.cellebrite.com/news-releases/news-release-details/cellebrite-acquire-corellium">acquisition </a>of Corellium, a leading in Arm-based virtualization software. The company said the combination will lead to new standards for digital investigations and smart device security. The acquisition is expected to expand the total addressable market size for Cellebrite's public and private sector efforts. Needham analysts also <a href="https://www.benzinga.com/quote/CLBT/analyst-ratings">reiterated a Buy rating </a>on Cellebrite with a $24 price target recently.  



<figure class="wp-block-image size-full"><a href=" https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0606"><img loading="lazy" decoding="async" width="1001" height="502" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06174754/Screenshot-442.png" alt="" class="wp-image-941861" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06174754/Screenshot-442.png 1001w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06174754/Screenshot-442-300x150.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06174754/Screenshot-442-768x385.png 768w" sizes="(max-width: 1001px) 100vw, 1001px" /></a></figure>



Axon Enterprises (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AXON#NASDAQ">AXON</a>): Shares of the cloud-based digital evidence company and owner of the TASER devices hit new all-time highs recently. The stock saw increased interest from readers during the week. The interest likely stems from a Bank of America <a href="https://www.benzinga.com/quote/AXON/analyst-ratings">analyst note </a>with a Buy rating maintained and the price target going up from $750 to $895. The interest in Axon Enterprises comes after the company<a href="https://www.benzinga.com/news/earnings/25/05/45271559/axon-enterprise-stock-pops-on-q1-earnings-key-details"> beat analyst estimates</a> for revenue and earnings per share in the first quarter. The company also raised full-year guidance for revenue after the first-quarter beat. Axon was previously on the Stock Whisper Index <a href="https://www.benzinga.com/25/03/44333602/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet">in March</a> and has been a top performing stock with shares up over 180% over the last year.



<figure class="wp-block-image size-full"><a href=" https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0606"><img loading="lazy" decoding="async" width="1001" height="498" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06174808/Screenshot-443.png" alt="" class="wp-image-941862" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06174808/Screenshot-443.png 1001w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06174808/Screenshot-443-300x149.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06174808/Screenshot-443-768x382.png 768w" sizes="(max-width: 1001px) 100vw, 1001px" /></a></figure>



Stay tuned for next week's report, and follow Benzinga Pro for all the latest headlines and <a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0606" target="_blank" rel="noreferrer noopener">top market-moving stories here.</a>



Read the latest Stock Whisper Index reports here:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/25/05/45183831/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet-63" target="_blank" rel="noreferrer noopener">May 2</a></li>



<li><a href="https://www.benzinga.com/trading-ideas/25/05/45335286/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet-64" target="_blank" rel="noreferrer noopener">May 9</a></li>



<li><a href="https://www.benzinga.com/trading-ideas/25/05/45482435/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet-65" target="_blank" rel="noreferrer noopener">May 16</a></li>



<li><a href="https://www.benzinga.com/trading-ideas/25/05/45600269/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet-66" target="_blank" rel="noreferrer noopener">May 23</a></li>



<li>May 30 </li>
</ul>



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<li><a href="https://www.benzinga.com/markets/macro-economic-events/25/06/45798570/exclusive-should-fed-chair-powell-resign-heres-what-benzinga-readers-said">EXCLUSIVE: Should Fed Chair Powell Resign? Here&#8217;s What Benzinga Readers Said</a></li>
</ul>

Exclusives

AXON

CLBT

SHEL

TTMI

Benzinga's 'Stock Whisper' Index: 5 Stocks Investors Secretly Monitor But Don't Talk About Yet

Despite fears of a sharp slowdown in the labor market, the official nonfarm payrolls report for May showed stronger-than-expected job growth, underscoring the resilience of the U.S. <a href="https://www.benzinga.com/news/econ-s">economy amid macroeconomic uncertainties.</a>



The economy added 139,000 nonfarm payrolls in May, beating expectations of 130,000 yet cooling <a href="https://www.benzinga.com/markets/economic-data/25/06/45812372/us-labor-markets-defies-tariff-concerns-as-nonfarm-payrolls-wages-top-expectations-in-may" target="_blank" rel="noopener">from the previous 147,000.</a> Wage growth also exceeded expectations, with average hourly earnings rising 0.4% month over month and 3.9% year over year. The unemployment rate remained steady at 4.2%.



President Donald Trump celebrated the strong May jobs report, calling the figures "great numbers," while renewing his public pressure on Fed Chair Jerome Powell, urging him <a href="https://www.benzinga.com/markets/economic-data/25/06/45818251/trump-cheers-strong-jobs-data-renews-attack-on-feds-powell-rates-should-be-much-lower">to lower interest rates.</a>



According to Trump, borrowing costs should be "much lower" as they are costing the U.S. economy "a fortune," suggesting the need to refinance maturing debt.



His remarks came after the Congressional Budget Office released updated estimates for Trump's sweeping tax bill, which is projected to add $2.4 trillion to the federal deficit over the next decade.



<h3 class="wp-block-heading">Political Spat Between Trump And Musk Hits Tesla Stock</h3>



A clash between Elon Musk and Trump <a href="https://www.benzinga.com/news/politics/25/06/45817556/trump-musk-feud-sends-betting-markets-into-overdrive-heres-what-traders-see-next">erupted on Thursday</a> after the tech billionaire publicly slammed the tax bill, claiming it was pushed through Congress too fast and never shared with him during his brief tenure as head of the Department of Government Efficiency.



Musk advocated for a leaner federal budget and accused the legislation of reckless spending.



Trump claimed Musk had gone crazy after losing access to government electric vehicle mandates. The president also floated the idea of scrapping all government contracts with Musk's companies, including SpaceX and Starlink, as a cost-saving measure for the budget.



Tensions reached a boiling point when Musk posted: "Time to drop the really big bomb: Trump is in the Epstein files. That is the real reason they have not been made public," yet offering no evidence to support the claim.



The feud sent shockwaves through markets, triggering Tesla Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) worst trading session of the year. Shares tumbled 14% on Thursday, erasing $152 billion in market value and capping a brutal week of double-digit losses.



On Friday, the S&amp;P 500 – tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) – closed at 6,000 points, gaining 1.5% for the week.



Read Next:



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<li><a href="https://www.benzinga.com/trading-ideas/movers/25/06/45820264/top-2-alternatives-to-tesla-after-the-musk-trump-breakup">Top 2 Alternatives To Tesla After The Musk-Trump Breakup </a></li>
</ul>



Image created using artificial intelligence via Midjourney.

Broad U.S. Equity ETFs

Global

Econ #s

US Labor Market Shows Resilience, Tesla Slumps After Trump-Musk Feud: This Week In Markets

Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) co-founder Larry Page called artificial intelligence "the ultimate version of Google" back in 2000, a prediction the company now treats as marching orders.



What Happened: In that 2000 <a href="https://changeminds.wordpress.com/2009/01/18/inspiring-interview-with-larry-page-founder-of-google/">interview</a> at the International Achievement Summit, Page explained his vision of AI for Google as &#8220;the ultimate search engine that would understand everything on the Web. It would understand exactly what you wanted, and it would give you the right thing.&#8221;



In the very next sentence, Page conceded that Google was "nowhere near" that goal, even with 6,000 servers and an index "70 miles high."



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-4-3 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Google Co-Founder Larry Page Predicts the Future of Search With AI (2000)" width="500" height="375" src="https://www.youtube.com/embed/1OT_Uj2z3Z0?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>



Page framed the challenge as an engineering puzzle that would require a marriage of unprecedented computing power with an ocean of public data.



Google engineers cracked a key piece in 2017 with the "Attention Is All You Need" <a href="https://research.google/pubs/attention-is-all-you-need/">paper</a>, unveiling the transformer architecture that underpins today's large-language models. The design lets models read entire sentences at once, turbo-charging accuracy and spawning chatbots able to draft text and field open-ended questions.



See also: <a href="https://www.benzinga.com/news/movers-shakers/25/06/45807280/elon-musk-bleeds-34-billion-as-tesla-shares-tank-14-amid-spat-with-trump-how-the-billionaires-fortune-has-fared-so-far-in-2025">Elon Musk Loses $34 Billion As Tesla Sheds $153 Billion Amid Feud With Trump—Here&#8217;s How The Billionaire&#8217;s Fortune Has Fared So Far In 2025</a>



Alphabet&#8217;s current CEO, Sundar Pichai, emphasized Google&#8217;s <a href="https://www.benzinga.com/markets/equities/23/09/34455741/for-alphabet-ceo-sundar-pichai-googles-race-for-ai-dominance-against-microsoft-is-still-on">transition</a> to being &#8220;AI-first&#8221; in 2016, but Page's 25-year-old roadmap shows the ambition ran deeper.



Why It Matters: Fast-forward to 2024, Google has rolled out <a href="https://www.benzinga.com/markets/equities/25/02/43485518/google-ais-search-revenue-matches-traditional-ads-says-alphabet-but-there-is-rising-competition-from-openai-perplexity-deepseek">AI Overviews</a> which are brief answers generated by its Gemini model that sit atop traditional links and aim to "do the searching for you." The feature already drives material revenue, Alphabet executives told investors, even as publishers like <a href="https://www.benzinga.com/news/legal/25/02/43930715/google-sued-over-ai-search-overviews-education-company-says-tech-giant-is-stealing-content-and-driving-publishers-out-of-business">Chegg sue</a> over content reuse.



Meanwhile, a report from earlier in the year suggests Larry Page is likely building a new <a href="https://www.benzinga.com/25/03/44184371/google-co-founder-larry-pages-ai-startup-could-change-product-manufacturing-forever-report">AI-backed startup</a> called Dynatomics, an enterprise focused on improving manufacturing processes. The Google co-founder currently has a net worth of $153 billion, making him the seventh wealthiest person in the world, according to the Bloomberg Billionaires <a href="https://www.bloomberg.com/billionaires/profiles/lawrence-e-page/">Index</a>. Page still holds on to a considerable amount of Alphabet shares, amounting to approximately 6% of Alphabet.



Photo Courtesy: twenty1studio On Shutterstock.com



Read next: <a href="https://www.benzinga.com/media/25/05/45687166/apple-may-see-fewer-searches-in-safari-but-google-ceo-sundar-pichai-insists-ai-is-fueling-overall-query-growth-far-from-a-zero-sum-game">Apple May See Fewer Searches In Safari, But Google CEO Sundar Pichai Insists AI Is Fueling Overall Query Growth: &#8216;Far From A Zero-Sum Game&#8217;</a>

GOOG

GOOGL

Google Co-Founder Larry Page Predicted A Machine That Would 'Understand Everything On The Web,' Has That 25-Year Old Pipe Dream Finally Turned Into Reality?

Earlier this week, in a fiery discussion on Piers Morgan Uncensored, Scott Galloway and Kevin O'Leary clashed over Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk's legacy.



What Happened: The debate started with Piers Morgan recalling an encounter with Musk, where the billionaire showed off videos of <a href="https://www.benzinga.com/markets/tech/25/06/45826839/elon-musks-tesla-optimus-robot-program-head-milan-kovac-steps-down">Tesla&#8217;s humanoid robot</a>, Optimus, and expressed his belief that robots would revolutionize the world.



Morgan pointed out Musk&#8217;s enthusiasm for innovation but questioned his <a href="https://www.benzinga.com/news/politics/25/06/45824984/exclusive-trump-can-hurt-elons-businesses-says-tesla-protest-organizer-but-at-this-point-whos-left-to-buy">involvement in politics</a> and the &#8220;aggravation&#8221; that came with it.



Galloway, a prominent business professor and author, took a harsher stance, condemning Musk's actions, <a href="https://www.benzinga.com/news/politics/25/05/45710749/trump-says-hes-not-troubled-by-musks-alleged-drug-use-during-campaign-report">such as drug use</a> and controversial statements.



He said, "I think the two of you are more impressed with Mr. Musk than I am," referring to O&#8217;Leary and Morgan's praise for Musk's achievements.



See Also:&nbsp;<a href="https://www.benzinga.com/25/04/45031652/trumps-ai-and-crypto-czar-david-sacks-says-musk-isnt-out-of-doge-just-rationing-his-time-at-the-department-as-tesla-stock-surges-24-in-the-past-five-days" target="_blank" rel="noreferrer noopener">Trump's AI And Crypto Czar David Sacks Says Elon Musk Going To ‘Stay Involved' In DOGE, Calls Entrepreneur Rationing His Time Sensible</a>



Galloway argued that while Musk is a technological genius, his behavior, including controversial political stances and lack of <a href="https://www.benzinga.com/markets/25/05/45286464/bill-gates-commits-99-of-his-remaining-fortune-to-gates-foundation-set-to-wind-down-in-20-years-somebody-should-give-more-money-than-i-did">philanthropy</a> (unlike Bill Gates), overshadowed his accomplishments.



He added, "If somebody is <a href="https://www.benzinga.com/general/social-media/25/01/43219015/elon-musk-faces-criticism-from-biographer-over-auschwitz-visit-he-truly-is-a-sociopath">making Nazi salutes</a>, if somebody is being sued concurrently by two women for sole custody of their child because that person has not spent any time with that child, when someone is so severely addicted to drugs … I don&#8217;t think that&#8217;s the right role model for young men."



O&#8217;Leary, on the other hand, defended Musk, highlighting his innovation and contributions to technology. He stated that despite Musk's flaws, his achievements in electric vehicles, space exploration and robotics were undeniable.



The "Shark Tank" star described Galloway's criticism as "Musk derangement syndrome" and urged the focus to remain on Musk's groundbreaking work, not his controversies.



Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.



<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="‘Musk DERANGEMENT Syndrome!' DOGE Legacy Debate &#x7C; Scott Galloway vs Kevin O'Leary" width="500" height="281" src="https://www.youtube.com/embed/ZePnamTanGc?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>



Why It's Important: Previously, Musk <a href="https://www.benzinga.com/news/politics/25/05/45710494/elon-musk-denies-ketamine-allegations-if-this-bs-from-nyt-were-true-it-would-have-been-extremely-obvious">pushed back against</a> a recent New York Times report claiming he regularly used ketamine during the 2024 campaign.



&#8220;I'm in meetings with dozens to hundreds of people every day and am photographed constantly,&#8221; he stated, adding, &#8220;If this bs from NYT were true, it would have been EXTREMELY obvious.&#8221;



Earlier this year, it was also reported that <a href="https://www.benzinga.com/markets/25/05/45124373/tesla-board-explored-replacing-elon-musk-as-tesla-ceo-a-month-ago-report">Tesla's board began looking</a> for Musk's successor due to his focus on government work in Washington, D.C., and the company's financial struggles.



The board allegedly urged Musk to recommit to Tesla. However, Tesla denied reaching out to recruitment firms, calling the report false. Chairwoman Robyn Denholm reaffirmed confidence in Musk and the tech mogul criticized the report as unethical and deliberately false.



Musk currently has a net worth of $335 billion, making him the wealthiest individual in the world, as per Bloomberg's Billionaire <a href="https://www.bloomberg.com/billionaires/">Index</a>.



Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.



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<li><a href="https://www.benzinga.com/tech/25/04/44941657/elon-musk-equates-car-ownership-in-future-to-riding-a-horse-while-using-a-flip-phone-pierre-ferragu-says-teslas-iphone-moment-hinges-on-full-autonomy" target="_blank" rel="noreferrer noopener">Elon Musk Equates Car Ownership In Future To Riding A Horse While Using A Flip Phone — Pierre Ferragu Says Tesla&#8217;s ‘iPhone Moment&#8217; Hinges On Full Autonomy</a></li>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



Photo courtesy: Shutterstock

Piers Morgan Hosts Heated Debate On Musk's Legacy: While Kevin O'Leary Defends His Achievements, Scott Galloway Criticizes Tesla CEO's Behavior, Saying 'I Think The Two Of You Are More Impressed With Mr Musk Than I Am'

On Friday, Wedbush analyst Dan Ives weighed in <a href="https://www.benzinga.com/news/politics/25/06/45824984/exclusive-trump-can-hurt-elons-businesses-says-tesla-protest-organizer-but-at-this-point-whos-left-to-buy">on the ongoing</a> war of words between Elon Musk and Donald Trump, reassuring investors that despite the recent drama, Tesla Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) long-term growth prospects remain strong.



What Happened: In an appearance on Yahoo Finance's Market Domination, Ives described the public fallout between Musk and Trump as a &#8220;Twilight Zone&#8221; moment, comparing it to a junior high school fight.



The fallout, which saw <a href="https://www.benzinga.com/news/politics/25/06/45800612/trump-says-musk-has-trump-derangement-syndrome-as-battle-over-bill-heats-up-had-a-great-relationship-dont-know-if-we-will-anymore">Musk pulling away from Trump</a>, sparked concern among investors, especially given the critical role Trump has played in supporting Musk's autonomous vehicle roadmap.



&#8220;I think it caught investors off guard because you knew Musk was pulling away, but you didn&#8217;t think that this was actually going to start really a battle where a friend could become an enemy,&#8221; he stated, referring to the stock price drop on Thursday.



See Also: <a href="https://www.benzinga.com/markets/tech/25/06/45807465/dan-ives-calls-musk-trump-feud-a-twilight-zone-moment-but-bullish-on-tesla-and-autonomous-future-not-good-for-either-side">Dan Ives Calls Musk-Trump Feud A &#8216;Twilight Zone Moment&#8217; But Bullish On Tesla And Autonomous Future: &#8216;Not Good For Either Side&#8217;</a>



Investors were worried that the rift could <a href="https://www.benzinga.com/news/politics/25/06/45807968/trump-signals-truce-with-elon-musk-after-online-feud-its-going-very-well-never-done-better">negatively affect Tesla's future</a> regulatory support, particularly regarding autonomous vehicles.



However, Ives described the market's reaction as &#8220;an overreaction,&#8221; suggesting that while the tension between the two men may create short-term volatility, it wouldn&#8217;t derail Tesla's long-term success.



&#8220;I still believe they&#8217;re allies and it doesn&#8217;t change my view that the regulatory road map is going to be more greenlighted for Tesla,&#8221; he stated, adding, &#8220;I don&#8217;t think that this is the beginning of a dark storm between Musk and Trump.&#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">"Musk and Trump went from BFFs to this frenemies situation, it's almost like a junior high sort of fight that's happened between these friends, and I think it caught investors off guard," Wedbush Securities Managing Director <a href="https://twitter.com/DivesTech?ref_src=twsrc%5Etfw">@DivesTech</a> says. <a href="https://t.co/L0PYfbvR7y">pic.twitter.com/L0PYfbvR7y</a>&mdash; Yahoo Finance (@YahooFinance) <a href="https://twitter.com/YahooFinance/status/1931067250779344915?ref_src=twsrc%5Etfw">June 6, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Why It's Important: Tesla saw its stock drop by 14.3% to $284.70 on Thursday, marking its second-largest percentage loss in over a year and the <a href="https://www.benzinga.com/trading-ideas/movers/25/06/45805173/musk-vs-trump-tesla-suffers-record-152b-one-day-crash-as-ceo-warns-tariffs-will-cause-a-recession">largest market cap loss</a> in the company's history.



The company's market value plummeted by a record $152 billion, pushing Tesla out of the $1 trillion market cap club. This decline followed Musk&#8217;s public criticism of Trump's &#8220;Big Beautiful Bill.&#8221;



However, during Friday's regular session, the share price rebounded by 3.67%, reaching $295.14, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.



Benzinga&#8217;s Edge Stock Rankings indicate that although the stock is facing negative trends in the short and medium term, its long-term outlook remains positive. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">For more detailed metrics, click here</a>.



<figure class="wp-block-image aligncenter size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/07023056/Screenshot-2025-06-07-at-11.58.36%E2%80%AFAM.png" alt="" class="wp-image-941999"/></a></figure>



Read Next:&nbsp;



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<li><a href="https://www.benzinga.com/25/05/45396297/cathie-wood-dumps-palantir-as-stock-touches-peak-prices-bails-on-soaring-flying-taxi-maker-archer-aviation" target="_blank" rel="noreferrer noopener">Cathie Wood Dumps Palantir As Stock Touches Peak Prices, Bails On Soaring Flying-Taxi Maker Archer Aviation</a></li>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



Photo Courtesy: RKY Photo on Shutterstock.com

Dan Ives Weighs In On Musk-Trump Drama, Says TSLA Stock Reaction Overblown: 'I Still Believe They're Allies'

On Friday, Cathie Wood&#8217;s Ark Invest made significant trades, with Veracyte Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VCYT#NASDAQ">VCYT</a>), 3D Systems Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DDD#NYSE">DDD</a>), and Avidxchange Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVDX#NASDAQ">AVDX</a>) being the most notable.



The VCYT Trade: Ark Invest&#8217;s ARK Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#BATS">ARKK</a>) fund made a substantial purchase of Veracyte Inc shares. The fund acquired 30,771 shares, increasing its ETF percentage by 0.0151.



The total value of the shares bought, based on the last close price of $27.46, is approximately $844,971.



Veracyte is a genomic diagnostics company that leverages advanced technologies to improve patient diagnosis and treatment.



The DDD Trade: Ark Invest&#8217;s ARK Autonomous Technology &amp; Robotics ET (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKQ#BATS">ARKQ</a>) and ARK Space Exploration &amp; Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKX#BATS">ARKX</a>) funds both sold shares of 3D Systems Corp.



The ARKQ fund sold 1,200 shares, while the ARKX fund sold 400 shares, both reducing their ETF percentage by 0.0002.



The total value of the shares sold, based on the last close price of $1.73, is approximately $2,768.



3D Systems Corp is a leading provider of 3D printing solutions. Despite the company&#8217;s potential for growth in the expanding 3D printing market, Ark Invest&#8217;s decision to sell suggests a strategic shift in their investment approach.



The AVDX Trade: Ark Invest&#8217;s ARK Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>) fund sold 10,025 shares of Avidxchange Holdings Inc., reducing its ETF percentage by 0.0096.



The total value of the shares sold, based on the last close price of $9.80, is approximately $98,245.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/06/45826839/elon-musks-tesla-optimus-robot-program-head-milan-kovac-steps-down">Elon Musk&#8217;s Tesla Optimus Robot Program Head Milan Kovac Steps Down</a></li>
</ul>



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



Photo courtesy: ChrisStock82 / Shutterstock.com

ARKF

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Cathie Wood's Ark Invest Loads Up On Veracyte, Offloads 3D Systems

Space stocks are rising in Thursday&#8217;s after-hours session amid an escalation of a public dispute between SpaceX&#8217;s Elon Musk <a href="https://www.benzinga.com/news/politics/25/06/45800612/trump-says-musk-has-trump-derangement-syndrome-as-battle-over-bill-heats-up-had-a-great-relationship-dont-know-if-we-will-anymore">and President Donald Trump</a>.



What Happened: Musk and Trump are throwing jabs on their respective social media platforms spurred by the former&#8217;s disapproval of a large tax bill being pushed by Trump. 



In a Truth Social <a href="https://truthsocial.com/@realDonaldTrump/posts/114632206992330264">post</a> Thursday afternoon, Trump said the easiest way to cut spending is to get rid of Musk&#8217;s government subsidies and contracts. 



Musk quickly <a href="https://x.com/elonmusk/status/1930718684819112251">responded</a> with a post on X, indicating that SpaceX would immediately start decommissioning its Dragon spacecraft, which is currently the only option the U.S. has for carrying crew members to the International Space Station. 



NASA press secretary Bethany Stevens chimed in on the dispute, noting that NASA will continue to work with Trump to carry out his vision for the future of space. 



&#8220;We will continue to work with our industry partners to ensure the President's objectives in space are met,&#8221; Stevens <a href="https://x.com/NASASpox/status/1930728558558900435?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1930728558558900435%7Ctwgr%5Ee06d105bd2067e7db775e61b4af3ebf6faa7e713%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.cnbc.com%2F2025%2F06%2F05%2Fmusk-trump-spacex-dragon-nasa.html">said</a> in an X post.



Space stocks appear to be rallying in response to the news as investors are optimistic the spat could create more opportunities for other space companies. 



Rocket Lab Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>), which has multiple <a href="https://www.benzinga.com/news/contracts/25/05/45434506/rocket-lab-gets-nasa-contract-to-launch-aspera-astrophysics-mission">contracts</a> with NASA, saw its shares rise 5.22% in Thursday&#8217;s after-hours session, while AST SpaceMobile Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>) shares climbed nearly 3% at last check.



AST SpaceMobile is one of Jeff Bezos&#8217; Blue Origin's top customers. The companies signed a deal&nbsp;in November 2024 for the launch of up to 45 satellites. A Scotiabank analyst <a href="https://www.benzinga.com/news/space/25/06/45776611/ast-spacemobile-stock-climbs-after-analyst-flags-potential-investment-from-amazons-jeff-bezos">speculated this week</a> that the relationship between the two companies could get even stronger in the near future. 



Shares of heavily-shorted Virgin Galactic Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPCE#NYSE">SPCE</a>) were also up nearly 15% in after-hours at the time of writing.



The dispute between Musk and Trump comes about two weeks after Trump <a href="https://www.benzinga.com/general/space/25/05/45532125/l3harris-stock-moves-higher-after-being-named-in-golden-dome-missile-defense-system">announced</a>&nbsp;the architecture for a $175 billion Golden Dome missile defense system. The system will feature next-generation technologies, including &#8220;space-based sensors and interceptors&#8221; and &#8220;a lot&#8221; of American companies will be involved, according to Trump. 



The tax bill, referred to as Trump&#8217;s &#8220;big, beautiful bill&#8221; is expected to include $175 billion for the Golden Dome project.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/etfs/specialty-etfs/25/06/45804512/trump-musk-feud-gets-ugly-etfs-exposed-with-tesla-caught-in-the-crossfire">Trump-Musk Feud Gets Ugly: ETFs Exposed With Tesla Caught In The Crossfire</a></li>
</ul>



Photo: courtesy of Rocket Lab.

After-Hours Center

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Rocket Lab, AST SpaceMobile, Virgin Galactic Shares Are Rising After Hours: What's Going On?

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