Invesco QQQ Trust, Series 1 (NASDAQ: QQQ)

最新ニュース Invesco QQQ Trust, Series 1 (NASDAQ:QQQ)

Invesco QQQ Trust, Series 1

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The Trust holds the Portfolio and cash and is not actively managed by traditional methods, which typically involve effecting changes in the Portfolio on the basis of judgments made relating to economic, financial and market considerations. To maintain the correspondence between the composition and weights of the securities in the Trust and the stocks in the Nasdaq-100 Index, the Trustee adjusts the Securities from time to time to conform to periodic changes in the identity and/or relative weights of Index Securities. The composition and weighting of the securities portion of a Portfolio Deposit are also adjusted to conform to changes in the Index. Changes to the Index are made after the close of the market

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投資家たちが市場の大きな荒れ模様により特筆される波乱のある取引週を終えようとしている中、米国株先物相場は木曜日の夜に下落した。

米国株先物が下落、トランプの関税ショックで市場が動揺し、日経平均株価は5％以上急落

Fed May Have to Step In

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連邦公開市場委員会（FOMC）が本日始まり、市場コンセンサスでは、政策金利を4.25％から4.50％の範囲で維持すると見られている。それにもかかわらず、アナリストたちは、ホワイトハウスがその政策を堅持していることから、パウエル議長が慎重な姿勢をとる可能性があると予想している。

FRBは様子見、トランプ大統領の動きは終了？パウエル議長が不安定な経済に慎重な姿勢をとるとアナリストは予想

Why Warren Buffett Turns To Kipling’s 1895 Poem “If—” When Markets Crash

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ウォーレン・バフェットが率いるバークシャー・ハサウェイ（NYSE:BRK）が、ニューヨークを拠点とするコンパス・リアルエステイトに不動産業事業の売却を交渉中との報道があった。

ウォーレン・バフェットは不動産事業の売却予定、アナリストは「米国の住宅価格の賭けではない」とコメント

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Defiance Nasdaq 100 Enhanced Options & 0DTE Income ETF

Wall Street stumbled midday Friday, shaken by a fresh wave of trade war fears after President Donald Trump proposed aggressive new tariffs on Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) <a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45585283/trump-tariff-threat-hits-europe-stocks-sink-as-50-duties-loom">and European imports.</a>
In a post on Truth Social, Trump threatened a 25% import duty on Apple Inc. if the tech giant doesn't repatriate its manufacturing to the United States. He also floated a 50% tariff on goods from the European Union, escalating concerns of a renewed transatlantic trade war.
Shares of Apple Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NYSE">AAPL</a>) dropped 2.6% in response. The S&amp;P 500 slipped 0.8% to fall below the key 5,800 mark, on track to close the week lower. 
Growth-oriented sectors like technology and consumer discretionary bore the brunt of the selling, while traditionally defensive sectors such as utilities and consumer staples remained in the green.
Volatility spiked as investors turned risk-averse. The CBOE Volatility Index, known as the VIX, climbed 8%, reflecting growing market anxiety. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) wasn&#8217;t spared from the risk-off sentiment, shedding over 2% to trade around $108,700. 
Treasury yields edged down to 5.02%, pushing the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) 0.3% higher as investors sought safer assets.
Gold prices surged 2.1% to $3,362 per ounce, boosted by safe-haven demand and a weakening U.S. dollar. The U.S. dollar index is down 1.8% this week, on pace to break a four-week winning streak.
<h3 class="wp-block-heading">Friday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>% Chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,037.33</td>
<td>-0.4%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>41,636.55</td>
<td>-0.5%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,805.10</td>
<td>-0.6%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,942.13</td>
<td>-0.8%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated by 12:50 p.m.</figcaption></figure>
According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul class="wp-block-list">
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) slipped 0.7% to $579.36.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) eased 0.5% to $416.59.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;fell 0.8% to $509.67.</li>
<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.4% to $202.51.</li>
<li>The&nbsp;Utilities Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) underperformed, down 0.7%; the&nbsp;Technology Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) lagged, down 1%.</li>
</ul>
<h3 class="wp-block-heading">Friday&#8217;s Stock Movers</h3>
<ul class="wp-block-list">
<li>Intuit Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTU#NASDAQ">INTU</a>) rallied 8% after reporting stronger-than-expected earnings. </li>
</ul>
Other stocks reacting to earnings report were: 
<ul class="wp-block-list">
<li>Workday, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>) down 11.3%</li>
<li>Autodesk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>) down 0.5%</li>
<li>Ross Stores, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROST#NASDAQ">ROST</a>) down 10.5%</li>
<li>Deckers Outdoor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>) down 19.2%</li>
<li>Booz Allen Hamilton Holding Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAH#NYSE">BAH</a>) down 16%</li>
<li>Cavco Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVCO#NASDAQ">CVCO</a>) down 3.1%</li>
</ul>
Read now:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45582778/trumps-big-beautiful-bill-passes-house-what-it-means-for-taxes-student-loans-medicaid-and-more">Trump&#8217;s &#8216;Big Beautiful Bill&#8217; Passes House: Taxes, Student Loans, Medicaid And What Else Is Changing For American Families </a></li>
</ul>
Photo: Shutterstock

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ADSK

CVCO

DECK

SPDR Dow Jones Industrial Average ETF Trust

INTU

ROST

iShares Trust Barclays 20+ Year Treasury Bond Fund

WDAY

Select Sector SPDR-Consumer Discretionary

Stocks, Bitcoin Fall On Trump's Tariff Threats, Gold Rallies: What's Driving Markets Friday?

President Donald Trump has sparked fear again of an all-out trade war, causing shockwaves in the stock market and leaving investors in the dark. In a post on Truth Social, Trump directly targeted tech giant Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), threatening a <a href="https://www.benzinga.com/25/05/45584696/trump-threatens-tim-cook-to-manufacture-iphones-in-the-us-or-face-at-least-25-tariffs">25% tariff on iPhones produced outside America</a>. Not resting there, he threatened a sweeping<a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45585283/trump-tariff-threat-hits-europe-stocks-sink-as-50-duties-loom"> 50% tariff on all imports from the European Union</a> beginning June 1.
Although it is uncertain if Trump can unilaterally impose company-specific tariffs, the markets didn&#8217;t wait for answers. Apple stocks fell almost 3% on Friday trading, and investors are now left wondering how to rebalance their portfolios if protectionism returns.
Also Read: <a href="https://www.benzinga.com/etfs/sector-etfs/25/05/45574690/nvidia-amd-and-the-ai-arms-race-3-explosive-etfs-to-watch-right-now">Nvidia, AMD And The AI Arms Race: 3 Explosive ETFs To Watch Right Now</a>
Tech ETFs: Industry Giants In The Crosshairs
Trump&#8217;s words shone a bright light on Apple, which constitutes meaningful portions of most <a href="https://www.benzinga.com/etfs">technology ETFs</a>. The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) holds more than 12.5% in Apple, and the Vanguard Information Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VGT#NYSE">VGT</a>) and Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) also hold 17.2% and 7.7% respectively.
Investors seeking to trim their exposure to Apple-focused funds could look to diversified global tech ETFs or equal-weight rivals that soften concentration risk. The iShares Global Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IXN#NYSE">IXN</a>) can be a good choice. Despite having significant exposure to Apple, the fund dedicates around 20% of its portfolio to international tech stocks.
Retail Rout? ETFs Exposed to Walmart and Amazon
Retailing behemoths Walmart (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) and Amazon are also in Trump&#8217;s sights. Last week, Walmart suggested it might have to raise prices because of higher tariff costs. Trump responded, telling the retailer to &#8220;eat the tariffs.&#8221;
The SPDR S&amp;P Retail ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XRT#NYSE">XRT</a>), whose holdings include both Walmart and Amazon, may experience more volatility. 
European Exposure On The Edge
A 50% tariff on EU imports, if invoked, would be one of the toughest trade policies in recent U.S.-EU relations. ETFs with high European exposure, such as the iShares Europe ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IEV#NASDAQ">IEV</a>), SPDR EURO STOXX 50 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FEZ#NYSE">FEZ</a>), and Vanguard FTSE Europe ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VGK#NYSE">VGK</a>), now find themselves under the scanner.
EU leaders have already proposed a $108 billion retaliatory tariff package, raising further uncertainty. For investors, this also poses questions regarding currency risk, macro exposure, and the durability of European equities.
Inverse ETFs such as the ProShares Short MSCI EAFE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFZ#NYSE">EFZ</a>) or currency-hedged ETFs like the iShares Currency Hedged MSCI EMU ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HEZU#NYSE">HEZU</a>) could provide short-term defensive opportunities for those who see turmoil coming.
Made-In-America ETFs: A Patriotic Pivot?
If <a href="https://www.benzinga.com/25/05/45584696/trump-threatens-tim-cook-to-manufacture-iphones-in-the-us-or-face-at-least-25-tariffs">Trump&#8217;s tariff threats</a> push corporations to bring manufacturing back to the U.S., a new class of ETFs could benefit. Funds like the ARK Autonomous Technology &amp; Robotics ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKQ#BATS">ARKQ</a>) and 3D Printing ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/PRNT#BATS">PRNT</a>) focus on American innovation and reshoring trends. These could gain momentum now.
Bottom Line
As Trump again heats up tariff rhetoric, ETF investors should prepare for a possible second installment of trade war drama. Whether hedging against exposure, playing rotation into domestic names, or diversifying out of vulnerable sectors, the moment to prepare may be at hand. Because in this political market theater, even passive investors must remain actively vigilant.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/global/25/05/45571270/byd-outsells-tesla-in-europe-but-these-etfs-still-back-elons-ev-empire">BYD Outsells Tesla In Europe, But These ETFs Still Back Elon&#8217;s EV Empire</a></li>
</ul>
Photo: Shutterstock

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Trump Targets EU, Apple With Tariff Threats: ETFs Could Feel The Heat

<ul>
<li>AAPL</li>
<li>UNH</li>
<li>GLD</li>
<li>TSLA</li>
<li>NVDA</li>
<li>BULL</li>
<li>GOOGL</li>
<li>OKLO</li>
<li>PLTR</li>
<li>QQQ</li>
</ul>
Data from <a href="https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment">https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment</a>
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As the &#8220;One Big Beautiful Bill&#8221; progresses to the Senate, investors should brace themselves for continued volatility in Treasury yields, according to Jim Cramer.
What Happened: The host of &#8220;Mad Money&#8221; warned that the market will likely &#8220;flirt&#8221; with a 4.75% yield on the 10-year Treasury, advising market participants to &#8220;get used to it.&#8221;
In a recent post, Cramer directly addressed the anticipated market reaction to the legislative process.
&#8220;We will have to endure more torture over the senate and more days where we &#8216;flirt&#8217; with 4.75% for the ten. Get used to it…,&#8221; Cramer tweeted, indicating his expectation of sustained upward pressure on yields during the bill&#8217;s consideration in the upper chamber of Congress.
Despite the anticipated &#8220;torture&#8221; and the elevated yield environment, Cramer maintained an optimistic long-term outlook for the markets. He concluded his sentiment with a reassuring, &#8220;…We will get out of this okay,&#8221; suggesting that while the immediate future may be challenging for bond markets, the broader economic and investment landscape will ultimately stabilize.
<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">We will have to endure more torture over the senate and more days where we &quot;flirt&quot; with 4.75% for the ten. Get used to it&#8230; We will get out of this okay
&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1925823175721402636?ref_src=twsrc%5Etfw">May 23, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/government/regulations/25/05/45583781/crypto-is-the-future-craig-shapiro-explains-how-inflation-high-deficit-make-inside-money-less-valuable-bitcoin-is-the-ultimate-outside-money">Crypto Is The Future? Craig Shapiro Explains How Inflation, High Deficit Make Inside Money Less Valuable: &#8216;Bitcoin Is The Ultimate Outside Money&#8217;</a>
Why It Matters: The 30-Year Treasury yields rose over 5% intraday during the trading sessions this week, and the 10-year Treasury yield also touched 4.6%. 
The recent reciprocal tariff pause with U.S. trading partners and a <a href="https://www.benzinga.com/government/regulations/25/05/45367206/sp-500-rallies-over-3-on-us-china-90-day-tariff-truce-but-experts-warn-it-doesnt-guarantee-a-complete-resolution-of-the-trade-war">90-day truce with China</a> have eased immediate worries with respect to duties.
However, the newly proposed &#8220;<a href="https://www.benzinga.com/25/05/45580298/trumps-big-beautiful-bill-strips-key-retirement-benefits-from-federal-workers-in-razor-thin-house-vote">One Big Beautiful Bill Ac</a>t&#8221; is projected by the Congressional Budget Office to increase U.S. national debt by an <a href="https://www.benzinga.com/markets/equities/25/05/45536595/big-beautiful-bill-will-explode-the-deficit-and-make-the-rich-richer-congressional-budget-office-estimates-4-income-fall-for-lowest-decile-of-americans-by-2033">estimated $3.8 trillion</a>, even as it offers tax relief. 
The tax bill has been <a href="https://www.benzinga.com/25/05/45558613/house-advances-trumps-sweeping-one-big-beautiful-bill-after-key-medicaid-tax-and-border-security-changes">advanced by the House Rules Committee</a> in an 8-4 vote following a marathon 22-hour hearing. 
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, fell in premarket on Friday. The SPY was down 1.44% to $574.70, while the QQQ declined 1.66% to $505.47, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Read Next:
<a href="https://www.benzinga.com/25/05/45582025/stock-market-is-underpricing-downside-risks-of-the-tariff-rates-warns-expert-tariff-policy-nuances-are-far-more-important-than-the-one-big-beautiful-bill">Stock Market Is Underpricing &#8216;Downside Risks Of The Tariff Rates,&#8217; Warns Expert: Tariff Policy Nuances Are &#8216;Far More Important&#8217; Than The &#8216;One Big, Beautiful Bill&#8217;</a>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: Steve Heap On Shutterstock

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Jim Cramer Warns Of More 'Torture' Ahead As 10-Year Yields Flirt With 4.75% Amid Trump's 'One Big Beautiful Bill' Moving To Senate: 'Get Used To It'

WIIM

Major indexes are lower after President Trump recommended a 50% straight tariff on the European Union, staring Jun. 1

Craig Shapiro, the macro strategist at the Bear Traps Report, made a case for holding Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) as he explained how the value of the traditional currencies was constantly being challenged by growing debt and inflation.
What Happened: According to Shapiro, higher deficits are likely to lead to future tax increases, as there is no way to escape that matrix if the countries are not willing to cut their spending.
This pressure of paying taxes, along with high inflation, reduces the value of the domestic currency of a country, explains Shapiro.
It is evident from the 8.29% year-to-date decline in the U.S. Dollar Index value as the fiscal policies introduced by President Donald Trump&#8216;s administration take shape.
Thus, Shapiro stated that &#8220;having more of your stored wealth in outside money vs inside money makes even more sense than ever before.&#8221;
&#8220;In more and more countries around the world, we are getting there faster and faster each day that goes by,&#8221; he adds by saying that &#8220;#Bitcoin is the ultimate outside money.&#8221;
While the value of Bitcoin is not derived from any other asset, except its own limited supply, it is mostly independent of monetary and fiscal policies around the world. This is the reason why it is also known as a decentralized currency.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If you are living in a country that you know will have to raise taxes over time to survive because its deficits are simply too high and there is no will to cut spending, or in one that is continuously expropriating your wealth via higher rates of inflation, having more of your…
&mdash; Craig Shapiro (@ces921) <a href="https://twitter.com/ces921/status/1925696044198727857?ref_src=twsrc%5Etfw">May 22, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/general/market-summary/25/05/45581555/growth-vs-value-expert-views-collide-on-the-impact-of-trumps-big-beautiful-bill">Growth Vs. Value: Expert Views Collide On The Impact Of Trump&#8217;s &#8216;Big, Beautiful&#8217; Bill</a>
Why It Matters: The ongoing reciprocal tariff pause with U.S. trading partners and a 90-day truce with China have subsided the tariff concerns.
However, the new &#8220;<a href="https://www.benzinga.com/25/05/45580298/trumps-big-beautiful-bill-strips-key-retirement-benefits-from-federal-workers-in-razor-thin-house-vote">One Big Beautiful Bill Act</a>&#8221; is now expected to <a href="https://www.benzinga.com/markets/equities/25/05/45536595/big-beautiful-bill-will-explode-the-deficit-and-make-the-rich-richer-congressional-budget-office-estimates-4-income-fall-for-lowest-decile-of-americans-by-2033">add $3.8 trillion</a> to the mounting U.S. debt as per Congressional Budget Office estimates, while providing tax relief. 
Shapiro, in his earlier commentary, pointed this out and said that the proposed bill will "explode the deficit while enriching the highest decile of Americans at the expense of the lowest decile."
The tax bill has been<a href="https://www.benzinga.com/25/05/45558613/house-advances-trumps-sweeping-one-big-beautiful-bill-after-key-medicaid-tax-and-border-security-changes"> advanced by the House Rules Committee</a> in an 8-4 vote following a marathon 22-hour hearing. &#8211;
Price Action: The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, rose on Thursday. The SPY was up 0.12% to $583.80, while the QQQ advanced 0.086% to $514.44, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
On Friday, the futures of the S&amp;P 500, Nasdaq 100 and Dow Jones indices were mixed in premarket. 
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/general/market-summary/25/05/45541408/cathie-woods-ark-invest-says-nuclear-energy-could-overtake-solar-as-cheapest-power-source-heres-a-list-of-nuclear-energy-linked-etfs-to-consider" target="_blank" rel="noreferrer noopener">Cathie Wood's Ark Invest Says Nuclear Energy Could Overtake Solar As Cheapest Power Source: Here's A List Of Nuclear Energy Linked ETFs To Consider</a></li>
</ul>
Photo courtesy: Shutterstock

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Crypto Is The Future? Craig Shapiro Explains How Inflation, High Deficit Make Inside Money Less Valuable: 'Bitcoin Is The Ultimate Outside Money'

Renowned tech bull Dan Ives has significantly raised his price target for Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) to $500, signaling a strong bullish outlook driven by the imminent arrival of what he terms the &#8220;golden age of autonomous&#8221; vehicles.
What Happened: Ives conveyed his updated stance via an X post, emphasizing the pivotal role of upcoming developments for the electric vehicle giant.
&#8220;We believe the golden age of autonomous is now on the doorstep for Tesla with the Austin launch next month kicking off this key next chapter of growth for Musk &amp; Co.,&#8221; stated Ives.
His revised price target reflects an anticipation of substantial future value creation for the company. &#8220;we are raising our price target to $500 reflecting this massive stage of valuation creation ahead,&#8221; Ives added, underscoring the profound impact he expects autonomous technology to have on Tesla&#8217;s market capitalization.
The price target for the company stood at $350 per share before the update, thus representing a 42.85% increase.
The &#8220;Austin launch&#8221; next month appears to be a key catalyst in Ives&#8217; assessment, suggesting that the expansion of Tesla&#8217;s autonomous capabilities and related initiatives from its Austin facility will be a major driver of this new growth phase for Elon Musk&#8216;s enterprise.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We believe the golden age of autonomous is now on the doorstep for Tesla with the Austin launch next month kicking off this key next chapter of growth for Musk &amp; Co. and we are raising our price target to $500 reflecting this massive stage of valuation creation ahead. &#x1f525;&#x1f3c6;&#x1f402;&#x1f37f;&#x1f3c5;
&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1925841823282393561?ref_src=twsrc%5Etfw">May 23, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/25/05/45582025/stock-market-is-underpricing-downside-risks-of-the-tariff-rates-warns-expert-tariff-policy-nuances-are-far-more-important-than-the-one-big-beautiful-bill">Stock Market Is Underpricing &#8216;Downside Risks Of The Tariff Rates,&#8217; Warns Expert: Tariff Policy Nuances Are &#8216;Far More Important&#8217; Than The &#8216;One Big, Beautiful Bill&#8217;</a>
Why It Matters: According to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>, Tesla shares are trading at a price nearly 158.730 times its 2026 earnings. At the same time, the average <a href="https://www.benzinga.com/general/market-summary/25/05/45539236/tesla-is-6x-more-expensive-than-its-peers-and-the-most-overvalued-mag-7-stock-gordon-johnson-questions-fundamentals-as-elon-musk-shrugs-off-concerns">forward price-to-earnings</a> of its peers stood at 25.75 times, implying that Tesla was 6.16 times more expensive than its industry&#8217;s average. 
The shares were down 10.08% year-to-date, but it has returned by 36.01% just in the last month. TSLA was up 96.29% over the year. On Thursday, it ended 1.92% higher, and it advanced 1.40% in premarket on Friday.
Meanwhile, 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 Friday. The SPY was down 0.026% to $583.00, while the QQQ declined 0.099% to $513.52, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
TSLA has a consensus ‘hold&#8217; with a consensus price target of $292.93, according to the <a href="https://www.benzinga.com/quote/TSLA/analyst-ratings">27 analysts tracked by Benzinga</a>. The targets range from $19.05 to $500. Recent ratings by Mizuho, Wedbush, and Guggenheim suggest a $303.33 target, implying a 12.26% downside.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/TSLA/analyst-ratings"><img loading="lazy" decoding="async" width="1024" height="388" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/23061100/ANR-TESLA-1024x388.png" alt="" class="wp-image-925741" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/23061100/ANR-TESLA-1024x388.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/23061100/ANR-TESLA-300x114.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/23061100/ANR-TESLA-768x291.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/23061100/ANR-TESLA.png 1396w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Benzinga Edge Stock Rankings shows that Tesla had a stronger price trend over the short, medium, and long term. Its momentum ranking was solid, however, its value ranking was poor at the 8.76th percentile. The details of other metrics are <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here</a>.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="140" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/23061035/EDGE-Tesla-new-1024x140.png" alt="" class="wp-image-925739" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/23061035/EDGE-Tesla-new-1024x140.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/23061035/EDGE-Tesla-new-300x41.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/23061035/EDGE-Tesla-new-768x105.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/23061035/EDGE-Tesla-new.png 1215w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/general/market-summary/25/05/45581555/growth-vs-value-expert-views-collide-on-the-impact-of-trumps-big-beautiful-bill">Growth Vs. Value: Expert Views Collide On The Impact Of Trump&#8217;s &#8216;Big, Beautiful&#8217; Bill</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Image Via Shutterstock

TSLA Stock Jumps In Friday Premarket As Wedbush's Dan Ives Raises Price Target To $500, Citing 'Golden Age Of Autonomous' Vehicles

U.S. stock futures were fluctuating on Friday after a mixed close on Thursday. Futures of major benchmark indices were mixed in premarket.
The week began with the market shrugging off <a href="https://www.benzinga.com/news/econ-s/25/05/45479078/moodys-downgrades-us-credit-rating-over-debt-deficit-concerns">Moody&#8217;s downgrade of the U.S. government debt</a>, however, it slipped later in the week as investors started assessing the impact of the new tax bill proposed by the Donald Trump administration, known as the &#8220;One, Big, Beautiful Bill.&#8221;
While the tax bill is expected to <a href="https://www.benzinga.com/markets/equities/25/05/45536595/big-beautiful-bill-will-explode-the-deficit-and-make-the-rich-richer-congressional-budget-office-estimates-4-income-fall-for-lowest-decile-of-americans-by-2033">add $3.8 trillion</a> to the U.S. debt as per Congressional Budget Office estimates, it was <a href="https://www.benzinga.com/news/25/05/45581297/trumps-big-beautiful-3-8-trillion-bill-squeaks-through-house-expert-says-it-will-boost-the-economy-in-the-short-term-but-worsen-deficitshttps://www.benzinga.com/news/25/05/45581297/trumps-big-beautiful-3-8-trillion-bill-squeaks-through-house-expert-says-it-will-boost-the-economy-in-the-short-term-but-worsen-deficits">passed by the U.S. House of Representatives</a> on Thursday by a 215-214 margin.
Meanwhile, the 10-year Treasury bond yielded 4.51% and the two-year bond was at 3.98%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool&#8217;</a>s projections show markets pricing a 94.7% likelihood of the Federal Reserve keeping the current interest rates unchanged in its June meeting.
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<table class="has-fixed-layout">
<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.07%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.03%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.04%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>0.13%</td>
</tr>
</tbody>
</table>
</figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, rose in premarket on Friday. The SPY was up 0.16% to $584.05, while the QQQ advanced 0.21% to $515.09, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Cues From Last Session:
Sectoral moves drove a mixed day for U.S. stocks Thursday, as the Nasdaq Composite rose over 50 points while most S&amp;P 500 sectors closed lower.
Utilities, healthcare, and energy stocks saw the biggest losses. Conversely, consumer discretionary and communication services bucked the trend, finishing higher.
Economic data showed U.S. initial jobless claims falling to 227,000, beating estimates, and both S&amp;P Global services and manufacturing PMIs climbing to 52.3 in May.
Meanwhile, Advance Auto Parts Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NYSE">AAP</a>) shares surged 57% after strong Q1 results, and Vigil Neuroscience Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VIGL#NASDAQ">VIGL</a>) skyrocketed 241% on news of a Sanofi acquisition.
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>0.28%</td>
<td>18,925.73</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.044%</td>
<td>5,842.01</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.0032%</td>
<td>41,859.09</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.049%</td>
<td>2,045.56</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Jurrien Timmer, the director of global macro at Fidelity Investments, highlighted in an X post that the long end of the Treasury market was being ignored after the S&amp;P 500 recovered most of its decline below its 52-week high.
&#8220;There's an old saying that &#8216;nothing good ever happens after midnight,&#8217; and we could borrow that phrase and say that nothing good happens above a 5% yield,&#8221; he said, highlighting concerns about higher yields.
He added that &#8220;It's my strong hunch that the next chapter in this market cycle will be driven by rates, as term premia return to their historical pre-QE levels.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">With the S&amp;P 500 recovering most of its decline, little noticed has been the long end of the Treasury market, which is once again nearing the danger zone of 4.5-5.0% (10-year) as the term premium reaches a new cycle high of 74 bps. There's an old saying that "nothing good ever… <a href="https://t.co/riaAUGJOrn">pic.twitter.com/riaAUGJOrn</a>
&mdash; Jurrien Timmer (@TimmerFidelity) <a href="https://twitter.com/TimmerFidelity/status/1925617154612711785?ref_src=twsrc%5Etfw">May 22, 2025</a></blockquote>
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&#8220;The budget discussion is fueling a lot of concern about deficits and debt levels rising over the long run,&#8221; said Kathy Jones, chief fixed income strategist at Schwab, who noted yields moving higher after the vote.
&#8220;The current proposal is expected to add anywhere from $3 trillion to $5 trillion to the accumulated debt over the next 10 years. The market appears to be voting against this bill and would like to see more fiscal restraint.&#8221;
The bill will now advance to the Senate, where it appears likely to face additional revisions.
&#8220;Congress has set a July target for a final bill to be signed into law, which could look very different than the current version. Consequently, we do not recommend taking actions based on the bill in its current form,&#8221; said Brian Therien of Edward Jones.
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 Friday:
<ul class="wp-block-list">
<li>Kansas City Fed President Jeff Schmid will speak at 9:35 a.m., new home sales data for April will be out by 10:00 a.m., and Federal Reserve Governor Lisa Cook will speak at noon ET.</li>
<li>On Sunday, Federal Reserve Chair Jerome Powell will deliver his commencement address at 2:40 p.m. ET.</li>
</ul>
Stocks In Focus:
<ul class="wp-block-list">
<li>Booz Allen Hamilton Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAH#NYSE">BAH</a>) rose 3.09% in premarket on Friday as analysts expect it to report quarterly earnings of $1.59 per share on revenue of $3.03 billion, before the opening bell.</li>
<li>Buckle Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKE#NYSE">BKE</a>) was up 1.45% as Wall Street expects it to report earnings before the opening bell. It is expected to post earnings of 69 cents per share on revenue of $268.06 million.</li>
<li>Frontline PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FRO#NYSE">FRO</a>) advanced 1.92% as analysts expect it to report quarterly earnings of 23 cents per share on revenue of $264.19 million, before the opening bell.</li>
<li>Autodesk Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>) rose 3.32% after it reported better-than-expected first-quarter financial results, issued strong guidance for the second quarter, and raised its FY26 guidance.</li>
<li>Intuit Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTU#NASDAQ">INTU</a>) jumped 7.96% after reporting stronger-than-expected third-quarter financial results and raising its full-year guidance.</li>
<li>BloomZ Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLMZ#NASDAQ">BLMZ</a>) surged 43.88% and formed a strategic alliance with M-NEXT Holdings, owner of trading card retailer &#8220;Ryusei no Arashi.&#8221;</li>
<li>Aurinia Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AUPH#NASDAQ">AUPH</a>) was 2.78% higher after it announced positive findings from a post-hoc analysis of its AURORA 1 Phase 3 study in lupus nephritis (LN) patients.</li>
<li>Hallador Energy Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HNRG#NASDAQ">HNRG</a>) dropped 10.25% as a major agreement, with a prominent global data center developer, was terminated on May 19, 2025.</li>
<li>Xerox Holdings Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XRX#NASDAQ">XRX</a>) slumped 8.79% after slashing its quarterly dividend by 75% to fund a $238 million synergy deal with Lexmark.</li>
<li>Sobr Safe Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOBR#NASDAQ">SOBR</a>) zoomed 18.84% after the company reported a year-over-year increase in first-quarter EPS and sales results.</li>
</ul>
Commodities, Gold, And Global Equity Markets:
Crude oil futures were trading lower in the early New York session by 0.49% to hover around $60.90 per barrel.
Gold Spot US Dollar rose 1.11% to hover around $3,331.29 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was lower by 0.57% at the 99.3890 level.
Asian markets were mixed on Friday as South Korea's Kospi and China&#8217;s CSI 300 indices declined, whereas India's S&amp;P BSE Sensex, Japan's Nikkei 225, Australia's ASX 200, and Hong Kong's Hang Seng indices rose. European markets were also mixed in early trade.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45582025/stock-market-is-underpricing-downside-risks-of-the-tariff-rates-warns-expert-tariff-policy-nuances-are-far-more-important-than-the-one-big-beautiful-bill">Stock Market Is Underpricing &#8216;Downside Risks Of The Tariff Rates,&#8217; Warns Expert: Tariff Policy Nuances Are &#8216;Far More Important&#8217; Than The &#8216;One Big, Beautiful Bill&#8217; </a></li>
</ul>
Photo courtesy: godongphoto / Shutterstock.com

Pre-Market Outlook

AUPH

BLMZ

HNRG

SOBR

VIGL

US Stocks Likely To Open On A Mixed Note: 'Nothing Good Happens Above A 5% Yield,' Says Expert

President&nbsp;Donald Trump&#8217;s&nbsp;&#8220;big beautiful bill&#8221; has been approved by the House, marking a significant step towards its potential impact on Americans&#8217; finances.
What Happened: The bill, passed on Thursday, is a comprehensive piece of legislation that extends the President&#8217;s 2017 tax cuts and introduces substantial alterations to the tax system, <a href="https://www.businessinsider.com/big-beautiful-bill-affects-taxes-student-loans-maga-accounts-2025">reported</a> Business Insider. The bill also contains measures related to Medicaid and the Supplemental Nutrition Assistance Program (SNAP).
The bill covers a range of tax measures, such as eliminating taxes on tips and overtime pay, introducing a $4,000 tax deduction for seniors earning under $75,000 a year, and raising the child tax credit from $2,000 to $2,500 through 2028. It also makes Trump's 2017 tax cuts permanent and increases the state and local tax deduction limit from $10,000 to $40,000.
The bill proposes ending income-driven student loan repayment plans, including Biden's SAVE plan, and introducing two new options: the Repayment Assistance Plan and a standard repayment plan.
Low-income Americans on Medicaid and SNAP are set to see major changes, including a monthly 80-hour work requirement for certain childless Medicaid recipients by 2026 and expanded SNAP work requirements for adults aged 55 to 64.
The bill proposes &#8220;Trump accounts,&#8221; offering $1,000 government deposits for babies born between Dec. 31, 2024, and Jan. 1, 2029, along with tax incentives and reduced long-term capital gains tax rates for parents.
SEE ALSO: <a href="https://benzinga.com/markets/cryptocurrency/25/05/45562596/bitcoin-breaks-111000-as-experts-hail-regime-shift" target="_blank" rel="noreferrer noopener">Bitcoin Breaks $111,000 As Experts Hail &#8216;Regime Shift&#8217; </a>
Why It Matters: The bill, which is part of Trump&#8217;s tax-and-spending package, has been&nbsp;narrowly <a href="https://www.benzinga.com/news/25/05/45581297/trumps-big-beautiful-3-8-trillion-bill-squeaks-through-house-expert-says-it-will-boost-the-economy-in-the-short-term-but-worsen-deficits">passed </a>by the House&nbsp;with a 215-214 margin. The bill may boost the economy short term, but experts warn it could raise fiscal deficits due to tax cuts and increased defense spending.
However, the bill has also been criticized for potentially <a href="https://www.benzinga.com/markets/25/05/45559059/trumps-big-beautiful-bill-could-be-3-1-trillion-jackpot-for-affluent-americans-like-elon-musk-and-jeff-bezos-report">exacerbating </a>wealth inequality. A report by Oxfam America suggests that the proposed tax cuts would disproportionately benefit the affluent, further stacking the odds against ordinary citizens. Meanwhile, an economics professor analyzed that the top 10% of households would receive approximately $3.1 trillion in tax cuts over a decade.
The 10-year Treasury yield dipped to 4.53% on Thursday, but remains elevated, reflecting investors&#8217; increased demand for compensation due to fiscal risk.
Stock markets showed mixed reactions, with the S&amp;P 500, tracked by SPDR S&amp;P 500 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), edging 0.039% higher to close at $583.09 on Thursday, while Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) climbed 0.19% to close at $514.
<ul class="wp-block-list">
<li>READ MORE:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/03/44450232/white-house-says-gold-reserves-may-be-used-to-purchase-bitcoin" target="_blank" rel="noreferrer noopener">White House Says Gold Reserves May Be Used to Purchase Bitcoin &#8211; Benzinga</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Trump's 'Big Beautiful Bill' Passes House: Taxes, Student Loans, Medicaid And What Else Is Changing For American Families

While investors are assessing the potential impacts of the &#8220;<a href="https://www.benzinga.com/markets/equities/25/05/45536595/big-beautiful-bill-will-explode-the-deficit-and-make-the-rich-richer-congressional-budget-office">One Big Beautiful Bill Act</a>,&#8221; this expert is urging investors to look beyond and consider a more potent market mover — U.S. tariff policy.
What Happened: Bob Elliott, CIO of Unlimited Funds, warns that the stock market is &#8220;underpricing the downside risks of the tariff rates,&#8221; arguing that the nuances of this policy are &#8220;far more important&#8221; than the much-touted legislative package.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">While all eyes are on the expansionary Big Beautiful Bill, there are increasing indications that the tariff &quot;pause&quot; may end in something closer to a Liberation Day 2.0 than relief. Thread.
&mdash; Bob Elliott (@BobEUnlimited) <a href="https://twitter.com/BobEUnlimited/status/1925501092823027912?ref_src=twsrc%5Etfw">May 22, 2025</a></blockquote>
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Even after a recent &#8220;<a href="https://www.benzinga.com/government/regulations/25/05/45367206/sp-500-rallies-over-3-on-us-china-90-day-tariff-truce-but-experts-warn-it-doesnt-guarantee-a-complete-resolution-of-the-trade-war">China deal</a>,&#8221; Elliott observed that &#8220;rates are still quite elevated,&#8221; leaving open the question of whether further relief is on the horizon or if the U.S. will &#8220;revert&#8221; to higher tariffs.
The economic impacts, he explained, could range from a &#8220;loosening that could largely be absorbed through the supply chain, to highly growth-disruptive tariffs, particularly if targeting key sectors.&#8221;
While China remains a pivotal factor, Elliott stressed that all the negotiated deals with other major trade partners also matter a lot, along with the possibility of various sectoral tariffs.
He acknowledged the inherent difficulty of negotiating trade agreements with &#8220;150 countries in 90 days,&#8221; suggesting the administration is increasingly recognizing this challenge and may opt to &#8220;simply set the desired rate sometime soon.&#8221;
With the 90-day &#8220;pause&#8221; roughly halfway through, Elliott lamented the persistent lack of clarity regarding the resolution of these tariffs.
He also said that &#8220;While strategic ambiguity and tough rhetoric are likely in part negotiating tactics, recent signaling suggests increasing comfort with elevated duties ahead.&#8221;
Elliott&#8217;s final warning to investors is stark: &#8220;Downside risks of the tariff rates ahead are underpriced at these levels.&#8221;
See Also: <a href="https://www.benzinga.com/general/market-summary/25/05/45541408/cathie-woods-ark-invest-says-nuclear-energy-could-overtake-solar-as-cheapest-power-source-heres-a-list-of-nuclear-energy-linked-etfs-to-consider">Cathie Wood&#8217;s Ark Invest Says Nuclear Energy Could Overtake Solar As Cheapest Power Source: Here&#8217;s A List Of Nuclear Energy Linked ETFs To Consider</a>
Why It Matters: Adding to the uncertainty, Elliott pointed to recent remarks from Treasury Secretary Scott Bessent, who &#8220;outlined a framework that suggested those countries not negotiating in good faith may see their tariffs rise back to Liberation Day levels.&#8221;
The new tax bill includes deductions on state and local taxes, social security benefits, tips, and overtime. The Congressional Budget Office estimated that this bill will <a href="https://www.benzinga.com/markets/equities/25/05/45536595/big-beautiful-bill-will-explode-the-deficit-and-make-the-rich-richer-congressional-budget-office-estimates-4-income-fall-for-lowest-decile-of-americans-by-2033">add about $3.8 trillion</a> to the federal government&#8217;s $36.2 trillion in debt over the next decade. 
While tariff pauses remain in place, the tax bill has been<a href="https://www.benzinga.com/25/05/45558613/house-advances-trumps-sweeping-one-big-beautiful-bill-after-key-medicaid-tax-and-border-security-changes"> advanced by the House Rules Committee</a> in an 8-4 vote following a marathon 22-hour hearing. 
Price Action: The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, rose on Thursday. The SPY was up 0.039% to $583.09, while the QQQ advanced 0.19% to $514.00, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
On Friday, the futures of the S&amp;P 500, Nasdaq 100, and Dow Jones indices were trading higher.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45563374/bulls-surpass-bears-for-the-first-time-in-17-weeks-pessimism-drops-as-bearish-sentiment-slides-below-40">Bulls Beat Bears For The First Time In 17 Weeks, Pessimism Drops As Bearish Sentiment Slides Below 40%</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Politics

Stock Market Is Underpricing 'Downside Risks Of The Tariff Rates,' Warns Expert: Tariff Policy Nuances Are 'Far More Important' Than The 'One Big, Beautiful Bill'

While President Donald Trump&#8216;s &#8220;One Big, Beautiful Bill Act&#8221; is expected to reduce taxes and &#8220;put more money in people&#8217;s pockets,&#8221; experts argue whether the tax cuts will cater to the value or growth stocks within the U.S. economy.
What Happened: The new tax bill is expected to eliminate taxes on social security benefits, tips, and overtime, which will be a big &#8220;windfall for many Americans,&#8221; according to Louis Navellier, the founder and CIO at Navellier &amp; Associates.
Additionally, the bill also proposes a $40,000 state and local tax (SALT) deduction. However, the Congressional Budget Office estimated that this bill will <a href="https://www.benzinga.com/markets/equities/25/05/45536595/big-beautiful-bill-will-explode-the-deficit-and-make-the-rich-richer-congressional-budget-office-estimates-4-income-fall-for-lowest-decile-of-americans-by-2033">add about $3.8 trillion</a> to the federal government&#8217;s $36.2 trillion in debt over the next decade. 
Navellier, who expects interest rate cuts by the Federal Reserve in the coming months of 2025, said that &#8220;When you put more money in people&#8217;s pockets, consumers cannot help themselves, so retail sales tend to rise.&#8221;
He expects stocks like Brinker International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EAT#NYSE">EAT</a>) and CAVA Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAVA#NYSE">CAVA</a>) to benefit as consumer spending at bars and restaurants rose 1.2% in April.
&#8220;As far as growth vs. value is concerned, I expect the Act to boost consumer spending and confidence, so growth stocks will beat value stocks,&#8221; he said.
However, Julia Khandoshko, the CEO at the European broker Mind Money, highlighted the current wait-and-watch stance by the Federal Reserve and said, &#8220;When rates rise, growth stocks suffer, and value stocks become more attractive.&#8221;
While tax cuts represent an expansionary fiscal policy, the Fed&#8217;s current stance of holding interest rates is indicative of contractionary monetary policy. Economic theories suggest that in a mixed environment like this, interest rates might rise, potentially dampening the effects of the expansionary fiscal policy.
See Also: <a href="https://www.benzinga.com/general/market-summary/25/05/45541408/cathie-woods-ark-invest-says-nuclear-energy-could-overtake-solar-as-cheapest-power-source-heres-a-list-of-nuclear-energy-linked-etfs-to-consider">Cathie Wood&#8217;s Ark Invest Says Nuclear Energy Could Overtake Solar As Cheapest Power Source: Here&#8217;s A List Of Nuclear Energy Linked ETFs To Consider</a>
Why It Matters: Notably, 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 94.6% likelihood of the Federal Reserve keeping the current interest rates unchanged in its June meeting, a 73.1% probability of no change in July.
Whereas, it expects 65.1%, 83.9%, and 94.8% chances of a cut in September, October, and December meetings, respectively.
Apart from growth stocks like EAT and CAVA, Navellier highlighted that &#8220;data centers are booming,&#8221; and he owns growth companies like Argan Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGX#NYSE">AGX</a>), Emcor Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EME#NYSE">EME</a>), Comfort Systems USA Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FIX#NYSE">FIX</a>), Power Solutions International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSIX#NASDAQ">PSIX</a>), Quanta Services Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PWR#NYSE">PWR</a>), and Vertiv Holdings Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>).
Khandoshko also highlighted that the taxes &#8220;may look effective in the short term,&#8221; but since capital gains and interest income are taxed differently, &#8220;such measures create distortions that can hit the system.&#8221;
While Jerome Powell has reiterated that &#8220;The right thing to do is <a href="https://www.benzinga.com/government/regulations/25/05/45266366/powell-flags-sharp-tariff-shock-elevated-uncertainty-fed-sticks-to-wait-and-see-mode">await further clarity</a>&#8221; on the economy and effects of fiscal policy, it remains to be seen how growth and value stocks will be affected by the combination of fiscal and monetary policies. 
Price Action: The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, rose on Thursday. The SPY was up 0.039% to $583.09, while the QQQ advanced 0.19% to $514.00, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
On Friday, the futures of the S&amp;P 500, Nasdaq 100, and Dow Jones indices were trading lower.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/25/05/45533521/charlie-munger-once-said-the-first-rule-of-compounding-is-to-never-interrupt-it-unnecessarily-now-hi">Charlie Munger Once Said, &#8216;The First Rule Of Compounding Is To Never Interrupt It Unnecessarily&#8217; — Now His Wisdom Rings True As The S&amp;P 500 Surges 220% Over 10 Years </a></li>
</ul>
Photo courtesy: Shutterstock

CAVA

PSIX

Growth Vs. Value: Expert Views Collide On The Impact Of Trump's 'Big, Beautiful' Bill

A viral post on X speculates that President Donald Trump might see a strategic upside in a recession.
What Happened: On Thursday, popular newsletter, The Kobeissi Letter, posted on X, drawing parallels between Trump&#8217;s economic agenda and the current state of the markets and the broader macro-environment. 
<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">In a way, President Trump may actually &quot;want&quot; a recession. A recession achieves MOST of Trump&#39;s economic goals at once: 1. Lower US inflation 2. Lower treasury yields 3. Lower trade deficit (through tariffs) 4. Fed interest rate cuts 5. Lower oil prices After the recent surge… <a href="https://t.co/GUptlBM6si">https://t.co/GUptlBM6si</a>
&mdash; The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1925314582010372564?ref_src=twsrc%5Etfw">May 21, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
&#8220;In a way, President Trump may actually want a recession,&#8221; the post says. &#8220;A recession achieves most of Trump&#8217;s economic goals at once,&#8221; referring to his campaign promises of low inflation, treasury yields, a reduction in trade deficits, a rate cut by the Federal Reserve, and lower oil prices.
See Also: <a href="https://www.benzinga.com/25/05/45579959/ray-dalio-warns-investors-to-be-afraid-of-the-bond-market-says-americas-debt-spiral-is-very-serious">Ray Dalio Warns Investors To Be &#8216;Afraid&#8217; Of The Bond Market, Calls America&#8217;s Debt Spiral &#8216;Very Serious&#8217;</a>
The post comes amid soaring U.S. Treasury Yields, with 30-Year yields at 5.04%, the 20-Year at 5.05%, and the 10-Year note at 4.53%. 
On Wednesday, the sale of $16 billion worth of 20-Year Treasury notes saw weak demand, marking a new low for U.S. Government bonds and rattling equity markets this week. 
The SPDR S&amp;P 500 Trust ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) is down 0.85%, followed by the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which tracks the Nasdaq, and the SPDR Dow Jones Industrial Average ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>), both down 0.11% and 1.16%, respectively, this week so far.
The post says the Trump team may be recalibrating its messaging strategy after &#8220;realizing the trade deal headlines won't work anymore.&#8221;
&#8220;A recession may be the &#8216;best&#8217; solution after years of inflation and &#8216;free&#8217; money,&#8221; the thread concludes, while quoting a chart showing the S&amp;P 500&#8217;s nearly 80-point decline in a span of 30 minutes, without any &#8220;major&#8221; news.
Why It Matters: Several leading economists, including former Treasury Secretary Larry Summers, <a href="https://www.benzinga.com/markets/25/05/45556622/larry-summers-asks-trump-to-retreat-on-taxes-just-like-he-did-on-tariffs-few-more-days-like-this-and-recession-will-be-likely">have warned Trump</a> to walk back on his proposed tax agenda, like he did with the tariffs, citing pressure on Treasuries.
Early this week, Summers warned that the U.S. was at risk of a <a href="https://benzinga.com/25/05/45484394/gold-hits-3500-as-larry-summers-says-u-s-market-is-on-a-path-to-crisis-like-uks-2022-meltdown?_gl=1&#x2A;9dyw9l&#x2A;_gcl_au&#x2A;OTU0MzA1MzE4LjE3NDcwMTIxNDM.&#x2A;_ga&#x2A;ZGVsZXRlZA..&#x2A;_ga_V7ZK73W7N0&#x2A;czE3NDc5NzczOTMkbzY4JGcxJHQxNzQ3OTc4MjA4JGowJGwwJGgw">fiscal crisis similar</a> to what the U.K. experienced in 2022, calling it Trump&#8217;s &#8220;Liz Truss Moment,&#8221; in reference to the British Prime Minister who had to quit following the crisis.
Economist Mohamed El-Erian had a more balanced take on <a href="https://benzinga.com/25/04/44892570/fairer-trade-or-economic-trainwreck-elerian-breaks-down-the-administrations-two-futures">the administration&#8217;s policies</a>, having said last month that they could either result in fairer global trade, alongside lower tariff and non-tariff barriers, or it could lead to stagflation, which he calls &#8220;Jimmy Carter all over again,&#8221; referring to the 1970s, when Jimmy Carter was President. 
Photo courtesy: Rawpixel.com / Shutterstock.com
Read More:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45580298/trumps-big-beautiful-bill-strips-key-retirement-benefits-from-federal-workers-in-razor-thin-house-vote">Trump&#8217;s &#8216;Big, Beautiful&#8217; Bill Strips Key Retirement Benefits From Federal Workers In Razor-Thin House Vote</a></li>
</ul>

Trump May 'Want' A Recession: Market Observer Says It Serves His Economic Agenda—Lower Rates, Oil Prices, And Trade Deficit

Major indexes are higher, rebound after weakness. Stocks may be gaining as Treasury yields pull back after a recent surge.

Wall Street edges higher as GOP tax bill clears the House and bond yields ease, helping investors shake off prior losses while digesting mixed <a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45567476/us-business-activity-rebounds-in-may-but-tariff-fueled-inflation-surges-at-fastest-pace-in-3-years">May business activity data.</a>
President Donald Trump's "one big beautiful tax bill" narrowly passed the House in a 215-214 vote and now moves to the Senate. According to the Congressional Budget Office, the proposed legislation is projected to add approximately $3 trillion to the national deficit over the next decade.
U.S. Treasury yields saw a whipsaw session, with the 30-year bond yield initially spiking to 5.15% before retreating by 9 basis points to 5.06% by midday in New York. The reversal in long-term rates signaled renewed investor appetite for long-duration bonds amid attractive yields.
Wednesday's sharp rise in yields had triggered a broad afternoon selloff in equities, but Thursday's pullback eased pressure on risk assets and improved investor sentiment.
The S&amp;P 500 rose 0.3% to 5,860 on Thursday, slightly recouping losses from the previous session. The tech-heavy Nasdaq 100 outperformed with a 0.7% gain.
Technology and consumer discretionary stocks led gains, riding momentum from falling yields. In contrast, defensive sectors like utilities and healthcare lagged. 
The U.S. dollar index (DXY) is on track to snap a three-day losing streak, supported by stronger-than-expected Purchasing Managers' Index (PMI) data for May. While the surveys pointed to solid growth, they also revealed renewed inflationary pressures, which tempered hopes for near-term Federal Reserve rate cuts.
Markets now fully price in a 25-basis-point rate cut only by December 2025, compared to prior expectations of an October move, based on CME Group's FedWatch Tool.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) extended its 2025 rally, jumping 2% above $111,000 to set fresh all-time highs. The world's largest cryptocurrency is now up 20% year-to-date. 
Gold prices, however, fell 0.7% to trade below $3,200 per ounce. Despite Thursday's drop, the precious metal has surged 25% so far in 2025, outperforming other major asset classes, continuing to attract inflows amid sticky inflation and uncertain fiscal policy paths.
<h3 class="wp-block-heading">Thursday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %Chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>21,220.06</td>
<td>0.7%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,861.99</td>
<td>0.3%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>41,976.57</td>
<td>0.3%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,049.02</td>
<td>0.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated by 12:20 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul class="wp-block-list">
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) inched 0.3% up to $584.61.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) inched 0.2% higher to $419.70.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;rose 0.7% to $516.50.</li>
<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) inched 0.1% higher to $203.51.</li>
<li>The&nbsp;Consumer Discretionary&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) outperformed, up 0.6%; the&nbsp;Utilities&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) lagged, down 1.5%.</li>
</ul>
<h3 class="wp-block-heading">Thursday&#8217;s Stock Movers</h3>
Stocks reacting to earnings reports included: 
<ul class="wp-block-list">
<li>Analog Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADI#NASDAQ">ADI</a>) down 3.88%</li>
<li>Ralph Lauren Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RL#NYSE">RL</a>) up 0.51%</li>
<li>BJ&#8217;s Wholesale Club Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BJ#NYSE">BJ</a>) down 0.92%</li>
<li>e.l.f. Beauty, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELF#NYSE">ELF</a>) up 3.38%</li>
<li>SM Energy Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SM#NYSE">SM</a>) down 0.35%</li>
</ul>
Solar stocks tumbled after the GOP tax bill cleared the House, with the sector seeing sharp losses amid concerns over reduced clean energy incentives.
<ul class="wp-block-list">
<li>Sunrun Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>) down 39%</li>
<li>Invesco Solar ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NASDAQ">TAN</a>) down 8%</li>
<li>Enphase Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) down 19%</li>
</ul>
As the tax bill suggests increased deficits that could boost spending in sectors like defense and homeland security, tech-focused defense stocks moved higher.
<ul class="wp-block-list">
<li>Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) up 4.5%</li>
<li>CrowdStrike Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) up 2.6%</li>
</ul>
Stocks slated to report earnings after the close include Ross Stores Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROST#NASDAQ">ROST</a>), CryoPort Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYRX#NASDAQ">CYRX</a>), Workday Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>), Intuit Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTU#NASDAQ">INTU</a>), Autodesk Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>) and Deckers Outdoor Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>).
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/government/regulations/25/05/45569891/big-tax-cuts-big-deficits-wall-street-winners-and-losers-emerge">Big Tax Cuts, Big Deficits: Wall Street Winners And Losers Emerge </a></li>
</ul>
Photo: Shutterstock

CRWD

CYRX

ENPH

Stocks Rebound As Treasury Yields Fall, Bitcoin Tops $111,000: What's Driving Markets Thursday?

After breaking an 11-week-long streak last week of being above the 50% mark, the bearish sentiment, measured by the American Association of Individual Investors (AAII) Sentiment Survey, slipped below the 40% mark in the current week.
What Happened: Additionally, the bullish sentiment for this survey, which is conducted weekly from Thursday to Wednesday, topped the bearish sentiment for the first time in 17 weeks, since Jan. 29.
However, it was still neck and neck as bearish sentiment stood at 36.7%, whereas the bullish sentiment came in at 37.7% for the week that ended on Wednesday, May 21.
The neutral sentiment for the week stood at 25.6%, which was at its highest level in 12 weeks since Feb. 19.
As compared to last week, pessimism dropped by 7.7% from 44.4% to 36.7%. Whereas optimism increased 1.8% from 35.9% to 37.7%.
The 11-week-long bearish sentiment above 50%, which ended last week, was the highest ever, as the second-longest streak of such pessimism was last observed in 1990. The old streak was just <a href="https://www.benzinga.com/government/regulations/25/04/44730455/bearish-sentiment-hits-7-week-high-mimicking-35-year-old-record-which-marked-the-bottom-of-the-october-1990-bear-market">seven weeks long</a>.
The historical averages of bearish sentiment stood at 31%, and that of the bullish sentiments were at 37.5% among the participants of the AAII survey.
See Also: <a href="https://www.benzinga.com/markets/equities/25/05/45559366/urban-outfitters-navigates-tariff-headwinds-with-diversification-strategies-no-country-accounts-for-more-than-25-of-production">Urban Outfitters Navigates Tariff Headwinds With Diversification Strategies: No Country &#8216;Accounts For More Than 25%&#8217; Of Production</a>
Why It Matters: This week&#8217;s special question to the AAII survey participants was &#8220;What do you think about the Federal Reserve&#8217;s decision to keep interest rates unchanged?&#8221;
To this, about 73.6% of the participants said that the Fed did the right thing by not cutting the rates, while 17.1% of the participants said that they should have cut interest rates. About 6.6% of the respondents were not sure and had no opinion, while 2.7% said that the Fed should have raised the interest rates.
The stock market has recovered since the U.S. and China decided to <a href="https://www.benzinga.com/government/regulations/25/05/45345994/us-china-tariff-truce-will-alleviate-worst-fears-but-prevent-falling-yields-keeping-economy-under-pressure-says-craig-shapiro">pause tariffs for 90 days</a>; however, a <a href="https://www.benzinga.com/news/econ-s/25/05/45479078/moodys-downgrades-us-credit-rating-over-debt-deficit-concerns">Moody&#8217;s downgrade</a>, rising yields, and investors&#8217; assessment of President Donald Trump&#8216;s proposed tax cuts in the &#8220;<a href="https://www.benzinga.com/markets/equities/25/05/45536595/big-beautiful-bill-will-explode-the-deficit-and-make-the-rich-richer-congressional-budget-office-estimates-4-income-fall-for-lowest-decile-of-americans-by-2033">One, Big, Beautiful Bill</a>&#8221; have led the market lower for the last two sessions.
On Thursday, 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, fell in premarket. The SPY was down 0.37% to $580.73, while the QQQ declined 0.37% to $511.16, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Read Next:
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<li><a href="https://www.benzinga.com/news/25/05/45533521/charlie-munger-once-said-the-first-rule-of-compounding-is-to-never-interrupt-it-unnecessarily-now-hi" target="_blank" rel="noreferrer noopener">Charlie Munger Once Said, ‘The First Rule Of Compounding Is To Never Interrupt It Unnecessarily&#8217; — Now His Wisdom Rings True As The S&amp;P 500 Surges 220% Over 10 Years</a></li>
</ul>
Photo: Shutterstock

Bulls Beat Bears For The First Time In 17 Weeks, Pessimism Drops As Bearish Sentiment Slides Below 40%

The Chairman and CEO of JPMorgan Chase &amp; Co., Jamie Dimon, addressed the issues surrounding huge deficits, inflationary factors, and geopolitical risk in the U.S. economy while talking <a href="https://www.bloomberg.com/news/articles/2025-05-22/jpmorgan-s-dimon-sees-risk-of-stagflation-for-us-economy?srnd=homepage-asia">to</a> Bloomberg Television at the Global China Summit in Shanghai.
What Happened: While Dimon agreed with the Federal Reserve to wait and see before they decide to cut interest rates, he said that the U.S. economy was likely to fall into &#8220;stagflation&#8221; as the country faces huge risks from geopolitics, deficits, and price pressures.
"I don't agree that we're in a sweet spot," he told Bloomberg Television.
Stagflation describes an economic scenario where there is slow economic growth combined with high inflation.
Addressing the first round of trade talks with China, which resulted in the 90-day tariff truce, Dimon highlighted that "I don't think the American government wants to leave China.&#8221;
"I hope they have a second round, third round, or fourth round, and hopefully it will end up in a good place."
Furthermore, Dimon highlighted during the interview that the U.S. needed to "attack the deficit problems," while justifying how this would affect investors to reduce their positions in the U.S. dollar assets.
"I don't worry about short-term fluctuations in the dollar," Dimon said. "But I do understand people might be reducing dollar assets."
See Also: <a href="https://www.benzinga.com/general/market-summary/25/05/45541408/cathie-woods-ark-invest-says-nuclear-energy-could-overtake-solar-as-cheapest-power-source-heres-a-list-of-nuclear-energy-linked-etfs-to-consider">Cathie Wood&#8217;s Ark Invest Says Nuclear Energy Could Overtake Solar As Cheapest Power Source: Here&#8217;s A List Of Nuclear Energy Linked ETFs To Consider</a>
Why It Matters: While Donald Trump&#8216;s &#8220;One Big Beautiful Bill&#8221; is likely to raise the trade deficit as per the<a href="https://www.benzinga.com/markets/equities/25/05/45536595/big-beautiful-bill-will-explode-the-deficit-and-make-the-rich-richer-congressional-budget-office-estimates-4-income-fall-for-lowest-decile-of-americans-by-2033"> Congressional Budget Office estimates</a>, the rising long-term Treasury yields stoked by Moody&#8217;s downgraded and Japanese bond yields are also signalling &#8220;debt crisis,&#8221; said Ed Yardeni. 
Meanwhile, the U.S. Dollar Index has declined 7.97% on a year-to-date basis amid the intensifying bond sell-off, which is pushing the yields higher. The 30-year Treasuries surpassed the 5% mark on Wednesday.
This rise in yields pushed the stock markets lower as major benchmark indices closed over 1% lower on Wednesday.
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 94.7% likelihood of the Federal Reserve keeping the current interest rates unchanged in its June meeting. A 71.2% probability of the same in July and a 67.5% chance of a cut in the September meeting. 
On Thursday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, rose in premarket. The SPY was up 0.19% to $583.95, while the QQQ advanced 0.26% to $514.39, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/05/45559366/urban-outfitters-navigates-tariff-headwinds-with-diversification-strategies-no-country-accounts-for-more-than-25-of-production">Urban Outfitters Navigates Tariff Headwinds With Diversification Strategies: No Country &#8216;Accounts For More Than 25%&#8217; Of Production </a></li>
</ul>
Photo courtesy: lev radin / Shutterstock

Forex

Jamie Dimon Says US Is Not In A 'Sweet Spot,' Flags Stagflation Risk And Deficit Problems Amid Trump-China Tensions

U.S. stock futures swung on Thursday after two days of decline on Wednesday. Futures of major benchmark indices were trading mixed in premarket.
After a marathon 22-hour hearing, the <a href="https://www.benzinga.com/25/05/45558613/house-advances-trumps-sweeping-one-big-beautiful-bill-after-key-medicaid-tax-and-border-security-changes">House Rules Committee moved</a> President Donald Trump&#8216;s &#8220;$4.9 trillion legislative package&#8221; forward with an 8-4 vote on the &#8220;One Big Beautiful Bill Act.&#8221; 
This action paves the way for a potential overnight floor vote, as Republicans press ahead despite internal party disagreements.
Meanwhile, the 10-year Treasury bond yielded 4.57% and the two-year bond was at 3.99%. 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 94.7% 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>-0.07%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.06%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>0.13%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.04%</td>
</tr>
</tbody>
</table>
</figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, rose in premarket on Thursday. The SPY was up 0.14% to $583.68, while the QQQ advanced 0.25% to $514.34, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Cues From Last Session:
Most S&amp;P 500 sectors closed lower Wednesday, with real estate, healthcare, and financial stocks seeing the largest declines.
However, communication services bucked the trend, finishing higher. Investors remained cautious amid fresh worries about fiscal policy.
Meanwhile, Lowe's Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) reported mixed first-quarter fiscal 2025 results, and Target Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) posted weaker-than-expected first-quarter figures.
On the economic front, U.S. mortgage application volumes fell 5.1% from the prior week for the period ending May 16.
The Dow Jones index declined 817 points or 1.91% to 41,860.44, whereas the S&amp;P 500 index fell 1.61% to 5,844.61. Nasdaq Composite ended 1.41% lower at 18,872.64, and the small-cap gauge, Russell 2000, dropped 2.80% to 2,046.56.
<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>-1.41%</td>
<td>18,872.64</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-1.61%</td>
<td>5,844.61</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-1.91%</td>
<td>41,860.44</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-2.80%</td>
<td>2,046.56</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
The Senior Global Market Strategist at Wells Fargo, Scott Wren, said that &#8220;We do not see the U.S. economy dipping into a recession this year as consumer spending should continue to grow modestly with growth in real incomes.&#8221;
Wren anticipates a modest rebound in GDP next year, rising to 1.8% from their projected 1% for this year, following a continued growth slowdown over the next couple of quarters.
Wells Fargo doesn&#8217;t foresee a U.S. recession this year because consumer spending should continue its modest growth, bolstered by increasing real incomes, even if it&#8217;s weaker than late last year.
While unemployment is expected to tick up due to below-average economic growth, Wells Fargo&#8217;s 5.3% projection for 2026 remains well below recessionary levels.
Furthermore, he added that &#8220;We also still see plenty of up and down in equity prices but ultimately a higher S&amp;P 500 Index by the end of 2026.&#8221;
Meanwhile, Kristian Kerr, head of macro strategy at LPL Financial, said that &#8220;Greater clarity is expected later this summer, as economic data tends to lag, meaning the full impact of tariffs may not be evident until June or July at the earliest.&#8221;
Additionally, he explained that the current policy landscape remains in flux, with broader tariffs largely paused until early July and China exempt from significant tariff increases until August 12.
&#8220;If meaningful economic weakness does materialize — confirmed by hard data mirroring the softness seen in leading indicators — or trade negotiations deteriorate, another bout of market volatility could ensue, potentially aligning with historical seasonal patterns where equities often struggle from late summer into fall.&#8221;
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How to Trade Futures </a>
Upcoming Economic Data
Here&#8217;s what investors will keep an eye on Thursday:
<ul class="wp-block-list">
<li>Initial jobless claims data for the week ending May 17 will be out by 8:30 a.m. ET.</li>
</ul>
<ul class="wp-block-list">
<li>The S&amp;P flash U.S. services and manufacturing PMI for May will be released by 9:45 a.m. ET.</li>
</ul>
<ul class="wp-block-list">
<li>April&#8217;s existing home sales will be announced by 10:00 a.m. ET.</li>
</ul>
<ul class="wp-block-list">
<li>New York Fed President John Williams will speak at 2:00 p.m. ET.</li>
</ul>
Stocks In Focus:
<ul class="wp-block-list">
<li>BJ&#8217;s Wholesale Club Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BJ#NYSE">BJ</a>) was up 0.51% in premarket on Thursday as analysts expect it to report quarterly earnings of 91 cents per share on revenue of $5.20 billion, before the opening bell.</li>
<li>Analog Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADI#NASDAQ">ADI</a>) advanced 1.16% as Wall Street expects it to report earnings before the opening bell. It is expected to post earnings of $1.70 per share on revenue of $2.51 billion.</li>
<li>Williams-Sonoma Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSM#NYSE">WSM</a>) was 0.048% higher as analysts expect it to report quarterly earnings of $1.76 per share on revenue of $1.67 billion, before the opening bell.</li>
<li>Advance Auto Parts Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NYSE">AAP</a>) rose 1.25% as Wall Street expects it to report earnings before the opening bell. It is expected to post a quarterly loss of 69 per share on revenue of $2.51 billion.</li>
<li>Snowflake Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) jumped 9.54% after posting better-than-expected earnings and sales results for the first quarter. The company also said it expects second-quarter product revenue in the range of $1.035 billion to $1.04 billion, up approximately 25% year-over-year.</li>
<li>Zoom Communications Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>) was 0.17% higher after reporting stronger-than-expected earnings for its first quarter after Wednesday's closing bell.</li>
<li>Urban Outfitters Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/URBN#NASDAQ">URBN</a>) surged 17.50% after posting a better-than-expected first quarter result and highlighting diversification strategies to mitigate tariffs in its earnings call.</li>
<li>Honeywell International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>) was up 0.13% after announcing the acquisition of Johnson Matthey&#8216;s Catalyst Technologies business, expanding its portfolio of leading catalyst and process technologies.</li>
<li>Rio Tinto PLC ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) advanced 0.58% after announcing the start of early works and final studies to increase Amrun mine's bauxite production on Queensland's Cape York Peninsula.</li>
</ul>
Commodities, Gold, And Global Equity Markets:
Crude oil futures were trading lower in the early New York session by 1.20% to hover around $60.83 per barrel.
Gold Spot US Dollar fell 0.10% to hover around $3,312.13 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was higher by 0.169% at the 99.7170 level.
Asian markets were lower on Thursday as South Korea's Kospi, India's S&amp;P BSE Sensex, Japan's Nikkei 225, Australia's ASX 200, Hong Kong's Hang Seng, and China&#8217;s CSI 300 indices declined. European markets were also lower in early trade.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/general/market-summary/25/05/45541408/cathie-woods-ark-invest-says-nuclear-energy-could-overtake-solar-as-cheapest-power-source-heres-a-list-of-nuclear-energy-linked-etfs-to-consider">Cathie Wood&#8217;s Ark Invest Says Nuclear Energy Could Overtake Solar As Cheapest Power Source: Here&#8217;s A List Of Nuclear Energy Linked ETFs To Consider </a></li>
</ul>
Photo courtesy: Shutterstock

SNOW

URBN

US Stock Likely To Open On A Mixed Note After 2-Day Fall: 'We Do Not See The US Economy Dipping Into A Recession This Year,' Says Expert

Urban Outfitters Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/URBN#NASDAQ">URBN</a>) reported better-than-expected first-quarter earnings on Wednesday and highlighted that it was navigating the tariff-induced headwinds with its diversification strategies by sourcing from multiple countries.
What Happened: The company&#8217;s Co-President and COO, Frank Conforti, highlighted during the earnings call that &#8220;Quickly after the announcement of tariffs, our teams started working on how to mitigate the impacts with a primary focus on the customer's experience.&#8221;
He underscored that this happened through vendor negotiations, shifting countries of origin, changing transportation modes, from air to boat, and &#8220;gently and sparingly&#8221; raising prices.
&#8220;We currently have no single country that accounts for more than 25% of our production. India, Vietnam, and Turkey are our three largest countries of origin, while China represents less than 5%,&#8221; he said.
Conforti also reiterated that URBN is confident in achieving 50 to 100 basis points of gross margin improvement for fiscal year 2026 despite tariff uncertainty.
However, company CFO Melanie Marein-Efron said that Urban Outfitters could face &#8220;some fashion risk of bringing product in early&#8221; in the second quarter as the company had some early receipts to bring in inventory ahead of the uncertain tariff outlook.
However, she said that the inventory also arrived &#8220;earlier than planned.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/news/25/05/45533521/charlie-munger-once-said-the-first-rule-of-compounding-is-to-never-interrupt-it-unnecessarily-now-hi">Charlie Munger Once Said, ‘The First Rule Of Compounding Is To Never Interrupt It Unnecessarily' — Now His Wisdom Rings True As The S&amp;P 500 Surges 220% Over 10 Years</a>
Why It Matters: Urban Outfitters reported a revenue of $1.33 billion, which beat the Street estimate of $1.28 billion. Also, the earnings of $1.16 per share beat the analyst consensus estimate of 82 cents by 41.46%.
Talking about the second quarter, the CFO also said that &#8220;We believe that it is prudent planning to bring in fall inventory, which is less sensitive to fashion early, given the uncertain tariff outlook and any potential supply chain disruptions that could occur in the future.&#8221;
URBN shares ended 2.84% lower on Wednesday and rose 17.45% in after-hours. The company has advanced 4.86% on a year-to-date basis and 51.19% over a year.
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, ended lower on Wednesday. The SPY was down 1.69% to $582.86, while the QQQ dropped 1.39% to $513.04, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Benzinga Edge Stock Rankings shows that URBN had a stronger price trend over the short, medium, and long term. Its value ranking was good at the 78.93th percentile; the details of other metrics are <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here</a>. 
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="144" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/22040503/URBN-Edge-1024x144.png" alt="" class="wp-image-923941" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/22040503/URBN-Edge-1024x144.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/22040503/URBN-Edge-300x42.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/22040503/URBN-Edge-768x108.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/22040503/URBN-Edge.png 1222w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
The futures of the S&amp;P 500, Nasdaq 100, and Dow Jones were trading mixed on Thursday.
Read Next:
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<li><a href="https://www.benzinga.com/general/market-summary/25/05/45539236/tesla-is-6x-more-expensive-than-its-peers-and-the-most-overvalued-mag-7-stock-gordon-johnson-questions-fundamentals-as-elon-musk-shrugs-off-concerns">Tesla Is 6X More Expensive Than Its Peers And The Most Overvalued Mag 7 Stock: Gordon Johnson Questions Fundamentals As Elon Musk Shrugs Off Concerns</a></li>
</ul>
Photo courtesy: Vladislav Gajic / Shutterstock.com

Urban Outfitters Navigates Tariff Headwinds With Diversification Strategies: No Country 'Accounts For More Than 25%' Of Production

The shoemaker of the popular brand, Vans — VF Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VFC#NYSE">VFC</a>), highlighted that a <a href="https://www.benzinga.com/news/earnings/25/05/45544873/v-f-corp-tumbles-after-q4-miss-vans-slump-and-gloomy-q1-forecast">dip in the segment sales</a> was part of the company&#8217;s turnaround plan, and investors would likely see the &#8220;high quality&#8221; earnings in the future.
What Happened: The Vans unit of VF Corp reported a 20% drop in sales as compared to the previous year and an 8% decline sequentially.
VF Corp&#8217;s President and CEO, Bracken Darrell, underscored that if you exclude Vans, the company&#8217;s total revenue growth would be up 4%.
&#8220;We told you last quarter that turnarounds are often nonlinear. To be clear, turnarounds can look nonlinear from a numerical standpoint, and this quarter is an illustration of that,&#8221; he said.
Darrell highlighted that 60% of the decline in the segment this quarter was a direct effect of deliberately reducing revenue to eliminate unprofitable or unproductive business. Additionally, 25% of it was driven by reduced storefronts and reduced channel inventory in China.
&#8220;Another 35% of the total decline was driven by additional set of deliberate actions, which were also in place last quarter that had a lower impact. These include the closure of value doors mainly in the U.S. that were margin eroding,&#8221; he said.
Underscoring the reasons for these declines, Darrell said, &#8220;And the results of these actions and others are that Vans gross margin is up significantly year-over-year.&#8221;
However, concerning the revenue, he said, &#8220;You don&#8217;t see the results just yet numerically, but you will. And when you do, they&#8217;ll be high quality.&nbsp;&#8220;
See Also: <a href="https://www.benzinga.com/news/25/05/45533521/charlie-munger-once-said-the-first-rule-of-compounding-is-to-never-interrupt-it-unnecessarily-now-hi">Charlie Munger Once Said, &#8216;The First Rule Of Compounding Is To Never Interrupt It Unnecessarily&#8217; — Now His Wisdom Rings True As The S&amp;P 500 Surges 220% Over 10 Years</a>
Why It Matters: VF Corp <a href="https://www.benzinga.com/news/earnings/25/05/45544873/v-f-corp-tumbles-after-q4-miss-vans-slump-and-gloomy-q1-forecast">reported a revenue</a> of $2.14 billion, down 5% year over year, missing the analyst consensus estimate of $2.18 billion. Whereas it posted a quarterly loss of adjusted earnings per share of 13 cents, beating the street view of a 14 cents loss.
The company anticipates a 3% to 5% drop in revenue for the first quarter of the fiscal year 2026, alongside an adjusted operating loss ranging from $110 million to $125 million.
VFC shares ended 15.80% lower on Wednesday and rose 0.41% in after-hours. The company has declined 43.59% on a year-to-date basis and 1.46% over a year.
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, ended lower on Wednesday. The SPY was down 1.69% to $582.86, while the QQQ dropped 1.39% to $513.04, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Benzinga Edge Stock Rankings shows that VFC had a weaker price trend over the short, medium, and long term. Its value ranking was poor at the 17.46th percentile; the details of other metrics are <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here</a>. 
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="149" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/22032025/VFC-EDGE-1024x149.png" alt="" class="wp-image-923877" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/22032025/VFC-EDGE-1024x149.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/22032025/VFC-EDGE-300x44.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/22032025/VFC-EDGE-768x112.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/22032025/VFC-EDGE.png 1203w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
The futures of the S&amp;P 500, Nasdaq 100, and Dow Jones were trading higher on Thursday.
Read Next:
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<li><a href="https://www.benzinga.com/general/market-summary/25/05/45539236/tesla-is-6x-more-expensive-than-its-peers-and-the-most-overvalued-mag-7-stock-gordon-johnson-questions-fundamentals-as-elon-musk-shrugs-off-concerns">Tesla Is 6X More Expensive Than Its Peers And The Most Overvalued Mag 7 Stock: Gordon Johnson Questions Fundamentals As Elon Musk Shrugs Off Concerns </a></li>
</ul>
Photo courtesy: T. Schneider / Shutterstock.com

VF Corp CEO Defends Vans Decline As Strategic: 'High-Quality Earnings' Are Coming

Major indexes are lower amid a rise in Treasury yields following a weak 20-year bond auction.

Press Releases

Annual Changes to the Nasdaq-100 Index®

2 Growth ETFs to Buy Now with $200 and Hold for Long-Term Profits

AXON

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NDAQ

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NASDAQ

投資家たちが市場の大きな荒れ模様により特筆される波乱のある取引週を終えようとしている中、米国株先物相場は木曜日の夜に下落した。
Nasdaq-100先物相場は18,251.75ドル（1.26％減）で、S&amp;P 500先物相場は5,247.00ドル（1.04％減）、ダウ先物は39,448.00ドル（0.88％減）となっている。
米国国債10年物利回りは8.4ベーシスポイント上昇し4.476％、30年物利回りは9.6ベーシスポイント上昇し4.944％となった。
金は、安全資産への需要が増加したことで、コムエクス(COMEX)先物6月限の10.61％上昇しオンスあたり3,228.60ドルとなった。
中国に対して急激な145％関税を課す一方で、大半の輸入品に一時的な10％の普遍的な関税を課すと発表したトランプ大統領は、CNBCによって<a href="https://www.cnbc.com/2025/04/10/trumps-triple-digit-tariff-essentially-cuts-off-most-trade-with-china-says-economist.html">語った通り</a>、株式市場は依然として緊張状態にある。 それでもトランプ大統領は希望を持ったトーンで「最終的に<a href="https://in.benzinga.com/government/regulations/25/04/44740040/chinas-growth-outlook-dims-as-trumps-125-tariffs-put-millions-of-jobs-at-risk-goldman-warns">北京との合意に達する</a>と確信している」 と述べた。
「中国と取引ができたらうれしい。私は両国のために良い結果を出せると思うんだ。」<a href="https://www.benzinga.com/government/regulations/25/04/44748635/stocks-bounce-off-session-lows-after-trump-says-china-deal-is-going-to-work">トランプ大統領は白宮で記者団に語った</a>。
これらのコメントは、S&amp;P 500が3.46％下落して5,268で終了（一時は4％以上下落したものの、前場に比べて損失を減らすことができた）。Nasdaq-100は4.19％下落し、18,343ドルで終了。
金曜日には、実質的には、主要な銀行の利益発表があり、その中には JPモルガン・チェースと ウェルズ・ファーゴ銀行 も含まれている。また、連邦準備制度が政策決定に影響を与える可能性のある、3月の<a href="https://www.benzinga.com/25/04/44751312/wall-street-on-edge-bank-earnings-inflation-data-consumer-sentiment-set-stage-for-friday-fireworks">生産者物価指数</a>に関するデータが発表される。 そのため、トレーダーにとっては追加の刺激があるだろう。
次の読み物：
<ul>
<li><a href="https://www.benzinga.com/news/25/04/44752456/obama-era-economist-jason-furman-says-trump-tariffs-now-higher-more-inflationary-than-announced-rais">オバマ政権時代の経済学者であるジェイソン・ファーマン氏は、トランプ大統領の関税は発表された以上に「今は高くなり、よりインフレの原因となる」と述べ、中国関税の引き上げが他の国についての90日の猶予超える影響を与える</a></li>
</ul>
Shutterstock提供の画像
免責事項：このコンテンツの一部は、AIツールの使用によって一部が制作されたものであり、Benzingaのエディターがレビューおよび公開を行いました。

連邦公開市場委員会（FOMC）が本日始まり、市場コンセンサスでは、政策金利を4.25％から4.50％の範囲で維持すると見られている。それにもかかわらず、アナリストたちは、ホワイトハウスが政策を堅持していることから、パウエル議長が慎重な姿勢をとる可能性があると予想している。
出来事： CMEのフェッドウォッチ(FedWatch) <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">ツール</a>によると、3月の会合での金利据え置きの確率は99％。しかし、6月になると利下げの可能性が65％を超え、9月では90％を超える。
ヤルデニ・リサーチ(Yardeni Research) のエドワード・ヤルデニ代表によると、FRBは様子見の姿勢でインフレ率が2.0％の目標に近づき、またトランプ大統領の政策がアメリカを景気後退に導く可能性がある場合に動きがあると予想される。
ヤルデニ代表は、「トランププット（The Trump Put）が終わりを告げるかもしれないが、フェッドプット（The Fed Put）は引き続き待機中だ」と述べた。
市場が急落して経済に打撃をもたらす場合、連邦準備制度理事会が利下げをすることを「Fedプット」、一方でトランプ政権が市場の恐怖が高まることを避けるために政策を調整することを「トランププット」という。
ナヴェリエ・アソシエイツの会長兼CIOであるルイ・ナヴェリエ氏は、「FRBが間もなく利下げに踏み切る可能性を示唆するハト派的なFOMC声明を予想している。ドットプロットが、今年さらに2回の利下げを示すと見込んでいる」と述べ、今後世界経済が縮小に転じた際、2025年には4回の利下げが見込まれるとも述べた。
また、B2PRIMEグループの創設者でエグゼクティブディレクターのユージニア・ミクリアク氏は、「パウエル議長が経済の不確実性、特に関税の不確実性を理由に、より慎重な態度に変化させることがあり得ると考えている」とコメントした。
関連記事： <a href="https://www.benzinga.com/25/03/44353578/safe-haven-amidst-volatility-gold-tops-3000-as-market-corrects-but-it-tends-to-see-painful-drawdowns-after-periods-of-sharp-gains-says-expert">不安定な中での安全な避難先？市場調整の中でゴールドが3000ドルを上回るが、急騰後に痛手を見る傾向があると専門家</a>
今回の出来事の意味： アナリストたちは、トランプ大統領が最近の発言で株式市場の重要性を否定したと考えており、そのため経済政策に関しても堅持すると予想している。トランプ大統領は「相場を本当に注視できない」という発言をしており、「相場は上下する」とも述べている。
さらに、日曜日のNBCに対して発言したスコット・ベッセント財務長官は、株式市場の下落が懸念される中での「健全な調整」と呼びながらも、米国が景気後退を回避できる「保証はない」と警告した。
一方でパウエル議長は3月7日、シカゴ大学で講演した際、FRBの二重使命について言及し、雇用と物価安定の両立に注力していくと強調した。物価の上昇が制御できるようになれば、金利を維持し、雇用が弱含めば金利を引き下げる意向を示した。金利調整については「急いでいない」とも語った。
株式相場の動向： 月曜日、S&amp;P 500指数をトラッキングする2つのETF、つまりSPDR S&amp;P 500 ETF トラスト (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) とInvesco QQQ トラストETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) は上昇した。SPYは0.77％上昇し567.15ドル、QQQも0.65％上昇し482.77ドル（<a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>のデータによる）。
火曜日、4大株価指数先物は全て下落した。ダウ・ジョーンズは0.25％下落、S&amp;P 500指数は0.33％下落、ナスダック100指数は0.44％下落。小型株中心のラッセル2000は0.51％下落。
次に読むべき記事
<ul>
<li><a href="https://www.benzinga.com/25/03/44354638/mark-cuban-advises-genz-to-spend-every-waking-minute-learning-about-ai-amid-disruption-heres-a-list-of-ai-investment-opportunities-for-long-term">マーク・キューバン、「AIについて1日中学びを惜しまないで」</a></li>
</ul>

ウォーレン・バフェットが率いるバークシャー・ハサウェイ（NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>）が、ニューヨークを拠点とするコンパス・リアルエステイトに不動産業事業の売却を<a href="https://www.benzinga.com/ma/25/03/44317138/warren-buffetts-real-estate-brokerage-compass-discuss-deal-report">交渉中</a>との報道があった。
出来事： コンパスがバークシャー・ハサウェイの不動産事業であるホームサービス・オブ・アメリカ（リアル・リビングを含む）を非公開価格で買収提案しているとウォール・ストリート・ジャーナル（WSJ）が<a href="https://www.wsj.com/real-estate/compass-in-talks-to-buy-warren-buffetts-real-estate-brokerage-unit-5eab82e5">報じた</a>。ホームサービス・オブ・アメリカは約820のオフィスと270のフランチャイズがあり、一方でコンパスは米国第2位の不動産仲介業社である。
この報道後、億万長者投資家のチャマス・パリハピティヤ氏は、「世界一の投資家が米国の住宅価格にレバレッジを利かせた売却」とコメントした。
しかし、従来のブローカーの賭けと米国の住宅価格の賭けが同じであるという点では一致していない。DFW住宅・経済アナリストのエイミー・ニクソン氏によると、バークシャーの不動産事業がコンパスに売却される可能性が「必ずしも米国の住宅価格に対する賭けではない」とのこと。<a href="https://www.benzinga.com/ma/25/03/44317138/warren-buffetts-real-estate-brokerage-compass-discuss-deal-report">なぜなら</a> バフェット氏は、不動産業界をさらに再編する不動産テクノロジーに賭けている可能性があるからだ。
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
He dumped all his home builder stocks a year ago and that proved wise 
That said, a bet against a traditional brokerage is not necessarily a bet against US home prices 
He may be betting on REtech reshaping the industry even further
&mdash; Amy Nixon (@texasrunnerDFW) <a href="https://twitter.com/texasrunnerDFW/status/1901335669978390537?ref_src=twsrc%5Etfw">March 16, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
関連記事: <a href="https://www.benzinga.com/25/03/44298732/nvidia-valuation-drops-after-2025-rout-ai-chipmakers-price-declines-41-from-its-peak-when-chatgpt-was-launched">2025年の大暴落後、エヌビディアが下落：ChatGPTの登場から株価が41％下落</a>
なぜ重要なのか :　ニクソン氏が述べたように、同社事業の売却は米国の住宅価格の賭けとは無関係であるが、金利上昇は住宅市場に影響を与える。金利の上昇は、毎月の支払額が増加する住宅購入者と需要の減少と不動産価格を下げことになる売主の両方に負担となる。
連邦準備制度理事会（FRB）の金融政策決定組織である連邦公開市場委員会（FOMC）は、3月18日と19日の今週に米国の金利政策決定会合が開催される。
CMEグループのFedWatch(フェッドウォッチ）<a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">ツール</a>によると、3月のFOMC会合では金利据え置きの確率は99％だ。ただし、2025年6月以降は利下げの可能性が高まる。
また、米国の不動産セクターでは合併が増えており、ロケットカンパニーズ（NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RKT#NYSE">RKT</a>）は先週、レッドフィン（NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDFN#NASDAQ">RDFN</a>）と175億ドルの<a href="https://www.benzinga.com/ma/25/03/44317138/warren-buffetts-real-estate-brokerage-compass-discuss-deal-report">買収契約</a>に署名した。
株価の動き: 金曜日、S&amp;P 500とナスダック100に続き、SPDR S&amp;P 500 ETF （NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>）と インベスコ QQQ トラスト ETF（NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>）が上昇。Benzinga Proのデータによると、SPYは2.07％上昇の562.81ドル、QQQは2.42％上昇の479.66ドルで取引が終了した。
次の記事を読む:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/25/03/44299872/jack-dorseys-block-first-us-company-to-deploy-nvidias-ai-cluster-predicts-30x-performance-boost">ジャック・ドーシーの「ブロック」、NVIDIAのAIクラスターを最初に導入した米国企業、パフォーマンスが30倍に向上予測</a></li>
</ul>

８月３日（水）午前８時３０分（米国東部時間）に公表される消費者物価指数（CPI）速報に先駆け、主要指数先物は神経質な値動きを示している。債券利回りは消費者物価指数発表前に低下している。今回の報告が価格圧力の緩和が続いていることを確認した場合、米連邦準備制度理事会（FRB）は利上げを余儀なくされる可能性がある。経済学者やストラテジストは、FRB総裁のジェローム・パウエル氏が今月末に予定されている＜ジャクソンホール・シンポジウム＞で、利上げ見通しについてさらに明確な見解を示すと予想している。
ただしアトランタ連邦準備制度（FRB）総裁のラファエル・ボスティック氏は、現在の金利が過去２２年間で最も高い水準であるとして、FRBは金利を引き下げる前に証拠をもう少し見たいと述べた。
ただ、ホンハイ精密工業（Hon Hai Precision Industry Co. Ltd.）（OTC：<a class="ticker" href="https://www.benzinga.com/stock/HNHPF#OTC">HNHPF</a>）が強いAIサーバーの需要について述べたコメントは、Nvidia Corp.（（NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>）やその他のAIレバレッジ株に支援をもたらすかもしれない。
<figure class="wp-block-table is-style-stripes">
<table style="overflow:auto; height: 90px; display: block;">
<tbody>
<tr>
<td>先物</td>
<td>騰落率（+/-）</td>
</tr>
<tr>
<td>ナスダック100先物</td>
<td>+0.07%</td>
</tr>
<tr>
<td>S&amp;P500先物</td>
<td>+0.05%</td>
</tr>
<tr>
<td>ダウ先物</td>
<td>+0.01%</td>
</tr>
<tr>
<td>R2K先物</td>
<td>+0.44%</td>
</tr>
</tbody>
</table><figcaption class="wp-element-caption">米国時間の水曜のプレマーケット取引で、 SPDR S&amp;P500 ETF トラスト（NYSE：<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>）は0.06％上昇の542.34ドル、インベスコQQQ ETF（NASDAQ：<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>）は0.05％上昇の462.81ドルとなった。</figcaption></figure>
前場取引の動き
火曜日、予想を上回る形で生産者物価指数（PPI）速報の結果が発表され、リスク選好気配が復活。一時はVIXも18レベルを割り込んだ。全ての主要平均が高く始まり、その後トレード中も上昇し、より高い水準で取引を終えた。テクノロジー銘柄中心のナスダック総合株価指数とS&amp;P500指数は、8月1日以来の最高値で終了。この過程で、S&amp;P500は今年の4日間の中で最大の4日間の上昇を記録した。
テクニカルアナリストでCNBCの寄稿者でもあるFrank Cappelleri氏は、S&amp;P500が６回のセッションで4.8％上昇したことについて言及し、「これは、2023年10月30日から2023年11月6日までの6％上昇以来の最良の記録となった」と述べた。
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
<a href="https://twitter.com/search?q=%24SPX&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SPX</a> The 6-day advance now is +4.8%.
That&#8217;s the best since the 6-day gain of +6.0% from 10/30-11/6/23.
The index is now challenging its 50-DMA and a key downtrend line…
…which ALSO is similar to early Nov&#8217;23. <a href="https://t.co/mTvo9TBu7H">pic.twitter.com/mTvo9TBu7H</a>
— Frank Cappelleri (@FrankCappelleri) <a href="https://twitter.com/FrankCappelleri/status/1823474564686627315?ref_src=twsrc%5Etfw">August 13, 2024</a></blockquote>
</div>
</figure>
<figure class="wp-block-table is-style-stripes">
<table style="overflow:auto; height: 90px; display: block;">
<tbody>
<tr>
<td>指数</td>
<td>騰落率</td>
<td>終値</td>
</tr>
<tr>
<td>ナスダック総合株価指数</td>
<td>+2.43%</td>
<td>17187.61</td>
</tr>
<tr>
<td>S&amp;P500指数</td>
<td>+1.68%</td>
<td>5434.43</td>
</tr>
<tr>
<td>ダウ平均株価指数</td>
<td>+1.04%</td>
<td>39765.64</td>
</tr>
<tr>
<td>ラッセル2000</td>
<td>+1.61%</td>
<td>2095.19</td>
</tr>
</tbody>
</table>
</figure>
アナリストの見解
月曜日の暴落後の市場回復についてコメントし、ファンドマネージャーのLouis Navellierは、「大きな地政学的サプライズがない限り、最近の株安の修正からの回復が続く可能性が高いように見えます。今年は強い上昇が見られたわけではなく、慎重になる傾向があるでしょう」と述べている。
彼はまた、「8月28日のNVIDIAの四半期決算は、完全な回復にとって極めて重要なものになるでしょう」とも述べた。
今日発表される主な経済指標
水曜日の最初の１つの主要なデータは７月の消費者物価指数（CPI）速報である。今回の結果が事前の予想とどのように異なるかは以下の通り。
<figure class="wp-block-table is-style-stripes">
<table style="overflow:auto; height: 90px; display: block;">
<tbody>
<tr>
<td></td>
<td>コンセンサス</td>
<td>6月の結果</td>
</tr>
<tr>
<td>消費者物価（前月比）</td>
<td>+0.2%</td>
<td>-0.1%</td>
</tr>
<tr>
<td>消費者物価（前年比）</td>
<td>+3.0%</td>
<td>+3.0%</td>
</tr>
<tr>
<td>中核消費者物価（前月比）</td>
<td>+0.2%</td>
<td>+0.1%</td>
</tr>
<tr>
<td>中核消費者物価（前年比）</td>
<td>+3.2%</td>
<td></td>
</tr>
</tbody>
</table>
</figure>
エネルギー情報管理局（EIA）は午前10時30分（米国東部時間）に、毎週木曜日に発表される石油在庫報告を公表する。
焦点銘柄
<ul>
<li>Peloton Interactive, Inc. （NASDAQ：<a class="ticker" href="https://www.benzinga.com/stock/PTON#NASDAQ">PTON</a>）は、同社がAlphabet, Inc.の（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>）Fitbitとのコンテンツ提携を発表した後、プレマーケット取引で約7％上昇した。</li>
<li>Kellanova（NASDAQ：<a class="ticker" href="https://www.benzinga.com/stock/K#NASDAQ">K</a>）は、米ウォールストリート・ジャーナルがMars, Inc.が同社を買収する取引を締結しつつあると報じた後、約6.50％上昇した。</li>
<li>Cardinal Health, Inc. （NYSE：<a class="ticker" href="https://www.benzinga.com/stock/CAH#NYSE">CAH</a>）、Brinker International, Inc. （NYSE：<a class="ticker" href="https://www.benzinga.com/stock/EAT#NYSE">EAT</a>）、Performance Food Group Company （NYSE：<a class="ticker" href="https://www.benzinga.com/stock/PFGC#NYSE">PFGC</a>）は、市場が開く前に四半期決算を発表する<a href="https://www.benzinga.com/calendars/earnings">注目の企業</a>の一つである。</li>
<li>市場が閉じた後に決算を発表する銘柄には、Cisco Systems, Inc. （NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>）やLumentum Holdings Inc. （NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LITE#NASDAQ">LITE</a>）が含まれる。</li>
</ul>
商品先物、債券、グローバル株式市場
WTI原油先物は下落し、前のセッションで見られた2％以上の下落を拡大する可能性があることを示唆している一方で、ゴールド先物はわずかな上昇を記録している。10年債利回りは1.7ベーシスポイント下落の3.837％となった。Bitcoin（暗号通貨：<a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>）は上昇を続け、6.1万ドルを超えて取引されている。
アジア市場では、ウォール街が好調なパフォーマンスを収めたことを受けて株式市場は上昇、FRBの利下げを織り込み始めた。ただし中国市場と香港市場は軟調な値動きとなっている。ヨーロッパ株式市場では、金融株が小幅な上昇を見せており、UBS AG（NYSE：<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>）の株価が金融株を支えている。
次に読むべき記事
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40359306/kevin-oleary-calls-kamala-harris-show-me-story-elon-musk-modern-day-bruce-wayne-shark-tank-star-disc">ケビン・オレアリー氏が語る、カマラ・ハリス副大統領の物語とは？　エロン・マスク氏を「現代のブルース・ウェイン」と称賛</a></li>
</ul>
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ウォール・ストリート　主要先物指数が反応

先週8月2日に終了した週は、<a href="https://www.benzinga.com/markets/24/08/40142331/chip-stocks-staring-at-another-bloodbath-as-intel-tumbles-nvidia-dips-4-asml-crumbles-over-6-whats-a">テクノロジースペース</a>が下落し、テクノロジー選択セレクトセクターSPDRファンド（NYSE：<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>）が5%以上下げ、大型株企業の業績を測るS&amp;P500指数を下回った。今週、テック市場を駆りたてた要因と、これらの株が近期および中期に向けて向かっている方向をまとめた。
好悪入り乱れたテック企業の決算、地政学の影響 今週、トレーダーたちは大型テック企業による決算報告を待つ中、テック株は慎重ながらも好調な立ち上がりを見せた。しかし火曜日には、いくつかのテック決算の期待を下回る内容と、直前の好材料に対する慎重な姿勢によって大きく後退した。
Advanced Micro Devices, Inc.（AMD）（NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>）からの強い決算報告によってテック株が水曜日に反発したが、マクロ観点からの懸念が木曜日に売り圧力を再び高めた。製造業と雇用市場に関する別々の報告がテック市場の悪材料となり、Meta Platform, Inc.（NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>）のかなり堅調な決算をトレーダーたちがほとんど無視した結果となった。
また、金曜日のセッションにおいても売り圧力は継続した。Intel Corp.（インテル）（INTC）の決算が期待を下回ったこと、そしてNVIDIA（NVDA）の大幅下落をもたらした連邦取引委員会（FTC）による動きによって、トレーダーたちのテック株に対するリスクを取る意欲が削がれたのである。
今週のテック株売り払いに関しコメントしたWedbushアナリストのDaniel Ives氏は、「先週のよりも弱い雇用統計が恐慌的なテック企業の売りの圧力を高めた…。これによりリセッション（景気後退）の恐れが高まり、これまでにテック株が売られた嵐（カテゴリー5の売り）において、連邦準備制度が遅すぎたという懸念が高まった」と述べた。
これが今週終了の形となった主要なテック株とETFの週間の動きである。
<ul>
<li>iShares半導体ETF（NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>）：-9.84％</li>
<li>Invesco QQQトラスト（QQQ）：-3.07％</li>
<li>Vanguard情報技術インデックスファンドETF株式（NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VGT#NYSE">VGT</a>）：-4.90％</li>
<li>Direxion Daily Semiconductor Bull 3Xシェア（NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXL#NASDAQ">SOXL</a>）：-30.01％</li>
<li>T-Rex 2XロングNVIDIAデイリーターゲットETF（CBOE：NVDX）：-12.21％</li>
<li>NVIDIA：-5.12％</li>
<li>インテル：-31.48％</li>
<li>AMD：-5.35％</li>
<li>Arm Holdings plc（NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>）：-23.86％（一部は四半期決算の影響による）</li>
<li>Apple, Inc.（NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>）：+0.87％</li>
</ul>
100銘柄の非金融テック株の動きを追跡するNasdaq100指数は、今週の売り払いの結果として修正相場の地域に入った。 7月11日の最高値（18,671.07）から、Nasdaq100は10％以上の値を下げた。最近の高値から10％以上下落することを、株式市場の用語で「修正相場」と呼ぶ。
次に見るべきは
出来事 Ives氏は、このテック株の牡牛相場と史上最長のテック株相場が終わったわけではないと主張している。 「これは、テック株を握るために必要な多年にわたる牡牛相場の最中における緊張感の瞬間に過ぎない」と彼は述べた。
アナリストは、18ヵ月後にはソフトランディングが行われ、連邦準備制度によって大幅な利下げサイクルが始まると予想している。
Ives氏のテック株に対する楽観論は、人工知能技術への信頼に基づいている。
「我々は強く信じています。これは4回目の産業革命を推進する1兆ドル規模のAI Cap Exサイクルの序盤にすぎません。これにより、テックエコシステム全体での加速された成長率が長年続くことになるのです」と彼は述べた。
この6月の四半期決算シーズンにおいて、Wedbushの牡牛相場に関する論文は実証され、大規模なクラウドビルドアウトのフィールドチェックが行われた、とIvs氏は言う。
「米国の消費者が弱体化し始めている（Amazonの消費者は軟調な決算）という懸念や恐怖が明らかになりました。連邦準備制度は手遅れになってしまった。結局は強制的なリセッションが再びやってきてしまう可能性があるのです。それにも関わらず、我々はテック支出と、まだ9イニングゲームの2イニング目にある大規模なAIテクノロジービルダウトの中心になる勝者に焦点を当てています」と彼は続けた。
メガキャップ企業にとっては否定的な連邦準備制度の利下げの見通しが、SMIDキャップのテック株にとっては健康的なものとなるかもしれない。 また、大統領選挙の後の規制の話題も、今回の売り払いを後押しした。共和党勝利の見通しは、多くの人々にとってはより厳格な規制環境が訪れることを意味するからだ。
Palantir Technologies, Inc.（PLTR）は、AIによる機能を活かしており、報告書によれば<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40129511/palantir-faces-critical-prove-me-moment-analyst-says-commercial-growth-will-be-star">今週の発表の中で、AIの波の強さに関する洞察を提供する可能性があります</a>。経済面では、2つのサービスセクターの活動読み、それに雇用の動向の読み取りが注目されるところです。
金曜日のセッションの終値は、<a href="https://benzinga.grsm.io/register174">Benzinga Proのデータによると</a>448.75ドル、2.37％下げて終了した。
次を読む: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/08/40116376/apple-q3-earnings-beat-expectations-tim-cook-highlights-breakthrough-ai-platform-installed-base-of-">AppleのQ3決算は予想を上回り、Tim Cookが「画期的な」AIプラットフォームを強調：デバイスの設置ベースが過去最高に到達、ただし中国収益は低下</a></li>
</ul>

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大型企業株　S&P500株をSPDRファンドが下回る

<img decoding="async" style="height: 382px; width: 700px;" src="https://thearorareport.com/wp-content/uploads/2024/07/2024-07-23_08h48_24.png" alt="" />
本日の注目ポイントは以下の通りです。
<h4>投機的なセンチメント</h4>
以下の点に注目：
<ul>
<li>この記事は個別の銘柄ではなく、大局についてのものである。TSLA株のチャートはさまざまな視点について示すために使用されている。</li>
<li>投機的なセンチメントは株式市場の主要なドライバーの一つである。
<ul>
<li>投機的なセンチメントが現在非常に高い水準にある。</li>
<li>ヒューマノイドロボットとロボタクシー vs 電気自動車の戦いが予想される。この戦いの結果は、投機的なセンチメントに大きな影響を与えるか、あるいは取り除くかに関わる。</li>
</ul>
</li>
<li>チャートによると、TSLA株はガンマ・スクイーズがかかり急騰している。ガンマ・スクイーズはウォール街の重要なメカニズムである。投資家はウォール街のメカニズムについて学ぶことで大きな利得を得ることができる。</li>
<li>チャートは、TSLA株の抵抗ゾーンとサポートゾーンを示している。</li>
<li>チャートのRSIによると、TSLA株は過剰買い気味になっている。これにより、TSLA株が上昇するのを容易にする。</li>
<li>テスラの決算発表後の戦いが株式の主要な決定要因となるだろう。本日の取引の終了後にテスラは決算を発表する。</li>
<li>イーロン・マスクは、テスラの株主の一部にヒューマノイドロボット、ロボタクシー、AIにフォーカスするように働きかけることに成功した。マスク氏の株主基盤の再構築に成功したにもかかわらず、テスラ株の大部分の株主は引き続き同社の電気自動車部門に焦点を当てている。</li>
<li>電気自動車事業は引き続き弱く、さらに弱くなる可能性が高い。</li>
<li>マスク氏は、テスラがヒューマノイドロボットを生産しており、これらは来年テスラで稼働すると語った。
<ul>
<li>テスラは2026年から他社にヒューマノイドロボットを販売することを目指している。</li>
</ul>
</li>
<li>テスラのロボタクシーイベントは8月から10月に延期された。ロボタクシーに関するさらなる煽りと目を見張るような予測を期待していい。</li>
<li>決算発表後、電気自動車に焦点を当てる人々と、ヒューマノイドロボットとロボタクシーに焦点を当てる人々との間で戦いが繰り広げられる。この戦いの結果は、TSLA株だけでなく、株式市場全体のセンチメントにも影響を及ぼすだろう。</li>
<li>重要な決算の中で、ジェネラル・モーターズ（NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>）、ゼネラル・エレクトリック（NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>）、コカ・コーラ（NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>）、ロッキード・マーティン（NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>）、SAP（NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAP#NYSE">SAP</a>）、Spotify Technology SA（NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>）が予想を上回る決算を発表した。</li>
<li>ユナイテッド・パーセル・サービス（NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>）とNXPセミコンダクターズ（NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a> ）は予想を下回る決算を発表した。</li>
<li>S&amp;P500の企業のうち、約25％が今週決算を発表している。</li>
<li>株式市場は、カマラ・ハリスが大統領指名を獲得するために必要な代議員を確保したというニュースに大きな反応を見せている。しかし多くの市場関係者は、この興奮は一時的なものだと考えている。</li>
</ul>
<h4>インド</h4>
インドは引き続き最も優れた長期投資機会の一つである。フルディスクロージャーとして、インドに焦点を当てたファンドであるFairfax India Holdings Corp（OTC:<a class="ticker" href="https://www.benzinga.com/stock/FFXDF#OTC">FFXDF</a>）は The Arora Report の ZYX Buy Model Portfolio に含まれている。インドにフォーカスした3つのETF、WisdomTree India Earnings Fund（NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EPI#NYSE">EPI</a>）、iShares MSCI India Small-Cap ETF（BATS:<a class="ticker" href="https://www.benzinga.com/stock/SMIN#BATS">SMIN</a>）、VanEck India Growth Leaders ETF（NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLIN#NYSE">GLIN</a>）が The Arora Reportの ZYX Emerging Model Portfolio に含まれている。
インドの株式にとって、中央政府の予算は常に大きなイベントとなる。この度発表された予算は、長期的には素晴らしいものだが、短期的には、キャピタルゲイン税が増えたことによって投資家が慄いている。短期キャピタルゲインには20％の税率、長期キャピタルゲインには12.5％の税率が適用される。
<h4>投資の賢者の７つの流れ</h4>
早朝の取引では、Tesla Inc（NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>）のマネーフローはプラスに傾いている。
早朝の取引では、Apple Inc（NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>）、Amazon.com, Inc.（NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>）、Alphabet Inc Class C（NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>）、Meta Platforms Inc（NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>）、およびMicrosoft Corp（NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>）のマネーフローは中立的なものである。
早朝の取引では、NVIDIA Corp（NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>）のマネーフローはマイナスに傾いている。
早朝の取引では、SPDR S&amp;P 500 ETF トラスト（NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>）とInvesco QQQ トラスト シリーズ1（NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>）のマネーフローはマイナスに傾いている。
<h4>株式のモモ・クラウドとスマートマネー</h4>
SPYとQQQのマネーフローを知ることで、投資家は利点を得ることができる。株式、金、および原油の買いがスマートマネーによって行われたタイミングを知ることで、投資家はさらなる利点を得ることができる。金にとって最も一般的なETFは、SPDR ゴールド トラスト（NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>）である。銀にとって最も一般的なETFは、iShares Silver Trust（NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>）である。原油にとって最も一般的なETFは、アメリカン・オイル・ファンド（ASCA:USO）である。
<h4>ビットコイン</h4>
ビットコインの大口投資家は、ビットコイン（暗号通貨: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>）を月面まで駆け上がらせる野心的なトランプの噂に取り組んでいる。その噂とは、トランプが、ビットコインを国家的な戦略準備金にすることができるというものだ。なお、トランプは、これに先立ち、ビットコインを100％ハイプした2024年の会議（およびそのラウンドテーブルイベント）に投資家を招待している。トランプはこの会議に対して、1人当たり84.5万ドルの費用を支払うことが条件となっている。
<h4>保護バンドと今後の対応</h4>
投資家にとっては、前方を見ることが、後方を見ることよりも重要である。
良質な、非常に長期のポジションを維持することを検討してみるのも一つの方法である。個々のリスク選好に基づき、現金あるいは国債、あるいは短期の戦術的取引、または短期から中期のヘッジ取引を含む保護バンドを考慮することも重要だ。これは自己を保護するための良い方法であり、反対に利益を伸ばすことができる。
投資家は、ヘッジと現金を合算することで、自己の保護バンドを確定することができる。高い保護バンドは、年配者または保守的な投資家に適している。低い保護バンドは、若い投資家または積極的な投資家に適している。もしヘッジを行わない場合、現金の合計額は上記よりも多く、しかしそれ以上にヘッジを行った場合よりも現金の合計額は少ない。
保護バンドが0％の場合、その時点での市場予測は非常に楽観的であり、投資家は現金を0％保有し、100％の資産を株式に投資することを選択したことを意味する。一方で保護バンドが100％の場合、その時点での市場予測は非常に悲観的であり、投資家はヘッジまたはショートセリングの方法で自己を保護しようと決意したことを意味する。
新たな機会を活用するには、十分な現金を保有していなければならない。これは投資家にとって非常に重要なポイントである。ヘッジレベルを調整する際には、株式ポジション（ETF以外）の部分的なストップ数量を調整することを検討する。また、残りの数量に対して幅の広いストップを使用すること、およびハイベータ株に対してもっとスペースを与えることを検討することも重要だ。なお、ハイベータ株とは、市場よりも個

AMZN

FFXDF

GLIN

MSFT

NXPI

SMIN

SPOT

ヒューマロイドロボットの競争激化　市場は投機的に

米連邦準備制度理事会（FRB）のパウエル議長は6月の記者会見で、金曜日に発表されたレポートによると、市場の期待をわずかになだめる形で、物価が目標を下回るかどうかの「さらなる信頼を得たい」という考えを再度表明しました。
「今年になって、データがそのような信頼を得られていない。今年初めに受け取ったインフレデータは期待を上回るものでしたが、最近の月次データはやや緩和されました」とパウエル議長は述べています。
パウエル議長は今日のデータを歓迎しましたが、2023年下半期からの不利なベース効果によって、年間データに影響を与える可能性のある新たなインフレデータは、「良いが（先月のデータよりも）それほど大きなものではない」と警告しました。
パウエル議長は、今日のデータについて投資家の興奮をなんとか冷やしました。「それは正しい方向への一歩です。ですが、これは単なる１つのデータです」と述べました。
続きを読む: <a href="https://www.benzinga.com/economics/macro-economic-events/24/06/39298115/fed-holds-rates-steady-projections-show-fewer-rate-cuts-higher-inflation-outlook">Fed Holds Rates Steady: Projections Show Fewer Rate Cuts, Higher Inflation Outlook</a>
<h3 class="wp-block-heading">5月のインフレ報告はFRBの新しいインフレ見通しに変更をもたらさなかった</h3>
パウエル議長は、今朝発表された5月の新しいインフレデータに続いて、連邦公開市場委員会（FOMC）メンバーは経済見通し要約（SEP）でインフレ予測を更新する機会を持っていたと説明しました。しかし、SEPの結果は、多くのメンバーが概して自分の意見を変更していないと見られます。
今年の個人消費支出（PCE）インフレの予測中央値は2.6％に上昇し、これは3月の2.4％からの上昇です。来年の予測は2.3％に上昇し、これも3月の2.2％からの上昇です。2026年の予測は2.0％のままです。
パウエル議長によれば、労働市場の状況は、2020年の新型コロナウイルス（新型コロナ）パンデミックの前夜に立っていたときと同じような「相対的にタイトで過熱していない」バランスに戻っています。
2024年に1回だけの利上げが見込まれている（SEPで示されている通り）という見解に対して9月の利下げが実現可能かどうか尋ねられた際、パウエル議長は、FRBは必要な情報がすべて揃うまで、将来の会合についての決定はデータに基づいて行うと強調しました。
パウエル議長は再び繰り返しました。「我々は、現在の政策の緩和を正当化する自信を持っていない」と、今後の数ヵ月でさらなるプラスのインフレデータが必要だと強調しました。
Fed議長はまた、「労働市場での予想外の減少」が米連邦準備制度をインフレに対応するために利下げに駆り立てるかもしれないとも示唆しました。
「私たちがやるべきことは、物事が壊れてから修復するまで待つことではありません」とパウエル議長は述べ、FRBが労働市場データの進化を細心の注意を払ってモニタリングしていくと明言しました。
<h3 class="wp-block-heading">市場の反応</h3>
株式がセッションの上昇をわずかに縮小させる一方で、国債利回りはこの日の早い時間に経験した急落から回復しました。
9月の利下げに対する市場の期待は、今日の予想よりもわずかに低下し、70％前後から63％になりました。トレーダーたちは、2024年12月までに2回の完全に価格がついた利下げが期待されています。
3:30p.m. ET時点でS&amp;P 500指数は、その日の株価が1.5％上昇した3:30p.m. ETで最高値を記録した後、0.8％上昇しています。
この日の初めに史上最高値を記録した後、テクノロジー重視のNASDAQ100指数は1.1％上昇しているため、これはその勢いが落ちたということになります。 （NASDAQ：QQQ）
2年債の利回りは4.67％という日中の最安値を記録した後、4.76％に戻します。
10年債の利回りは4.25％の日中の安値からバウンスバックし、4.32％になりました。
この日の値動きを見ると、ゴールドは平坦で、セッション全体での上昇を消しました。<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>)

パウエル議長、市場の興奮を抑える「更なる信頼を得たい」

2020年6月以来、消費者物価指数（CPI）報告が<a href="https://www.benzinga.com/topic/fomc">連邦公開市場委員会（FOMC）の会合</a>と同日に発表されるのは初めてのことだ。
このことは、金融市場にとって潜在的にボラティルな水曜日を予示している。
2024年第1四半期の3ヶ月間にわたり期待を上回るインフレ率の読書が続いたが、4月のデータは物価<a href="https://www.benzinga.com/markets/equities/24/05/38842603/us-inflation-falls-as-expected-in-april-bolsters-fed-rate-cut-bets">プレッシャーが緩和され、予測に合致した。</a>
このためCPIデータは、インフレ率が続く低下傾向を示しているのかどうかを確認する上で極めて重要だ。これがあれば、連邦準備制度理事会の2％の物価目標を達成する希望を支えることになる。
このため、水曜日午前8時30分に労働統計局から発表される5月のインフレ報告書の重要性が増している。
5月のインフレ報告書の結果は、同日のプレスカンファレンス中に行われるジェローム・パウエル（Jerome Powell）議長の声明にも大きな影響を与えるだろう。
柔らかいインフレ率の読書は、今年の後半に利上げが行われる可能性を補強する一方、予想を上回るインフレ率はより積極的なアプローチを必要とし、おそらく長期間金利を高めに維持する必要があることを繰り返す可能性がある。
市場参加者は現在、9月の利上げの可能性を50-50で見積もっており、年末までに完全に価格が大きく下落することを期待していない。
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39252500/fed-meeting-preview-economists-predict-steady-rates-in-june-fewer-cuts-ahead">Fed Meeting Preview: Economists Predict Steady Rates In June, Fewer Cuts Ahead</a>
<h3 class="wp-block-heading">5月のインフレ報告書のプレビュー：経済学者の予想</h3>
<ul>
<li>Econodayが収集した経済学者の予想によると、全体の見出しの年間インフレ率は3.4％で横ばいになると予想されている。</li>
<li>総合的なCPIは、4月の0.3％の上昇から0.1％上昇すると予想されている。</li>
<li>食品およびエネルギー価格の変動を除いた年間のインフレ率は、0.3％の月次の上昇と、4月から変わらない3.6％で推移すると予想されている。</li>
</ul>
ゴールドマンサックスのエコノミスト マヌエル・アベカシス氏は、コンシューマーエレクトロニクスやパーソナルケアなどの分野でのインフレ率の低下が報告されると予想しており、5月のデータに反映されるという見方だ。彼はまた、自動車保険料の持続的な上昇も予測しているが、ペースは徐々に遅くなり、家賃やオーナーの同等の家賃（OER）のインフレ率は横ばいで推移すると予想している。
アベカシス氏は、「今後、2024年の終わりまでの数ヶ月間、月次コアCPIインフレ率は0.2〜0.3％の範囲内に留まると予想している。 2024年12月の年間コアCPIインフレ率は3.5％、コアPCEインフレ率は2.8％と予測している」と述べた。
著名なベテラン市場アナリストのエド・ヤーデニ氏は、5月のCPI報告書が依然としてインフレが抑制されていることを確認すると見ている。
「クリーブランド連銀のインフレ・ナウキャスティング・モデルによると、5月のヘッドラインおよびコアCPIは、前年比でそれぞれ3.36％および3.55％上昇し、これは2021年4月以来の最低の年間コアインフレ率読書となる」とYardeni氏は述べている。
ヤーデニ氏は、住居のインフレ率と中古車の価格の低下を予想しており、自動車関連の他の消費者価格が安定することを期待している。
米国銀行の経済学者マイケル・ゲープン氏は、5月の報告書が4月の好調な推移を継続すると見ている。
ゲープン氏は、「1月から3月までの月次コアCPIインフレ率が0.4％と平均した後、4月には方向性が変わった。 我々は5月のコアCPIとヘッドラインCPIがそれぞれ0.3％と0.1％の上昇となり、年間インフレ率はそれぞれ4.6％と34％で4月と同じになると予想している」とゲープン氏は語った。
<h3 class="wp-block-heading">過去のCPI報告書に対する市場の反応</h3>
2024年5月15日にCPI報告書が発表され、これは、株式、債券、金、および投機的資産を巡る株式市場の反発を引き起こした。
<ul>
<li>S&amp;P 500は、この日に SPDR S&amp;P 500 ETF トラスト（NYSE: <a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>）で1.2％上昇した。</li>
<li>テクヘビーなナスダック100は、 Invesco QQQ Trust（NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>）で1.6％上昇した。</li>
<li>長期国債利回りは下がり、 iShares 20+ Year Treasury Bond ETF（NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>）は1.4％上昇した。</li>
<li>金は SPDR Gold Trust（NYSE: <a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>）で1.3％上昇した。</li>
<li>ビットコイン（CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>）は7.4％上昇し、2か月間で最高の1日となり、今年の最高の3番目の読書を記録した。</li>
<li>Invesco DB USDインデックスブリッシュファンドETF（NYSE: <a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>）がドルの指標として下落し、0.7％下がり、2023年12月中旬以来の最悪の1日の性能を記録した。</li>
</ul>

Commodities

消費者物価指数がFOMCで異例の報告

中東で再び緊張が高まっており、イスラエルの戦争内閣は国の対応を熟慮するために月曜日に開会し、<a href="https://www.benzinga.com/markets">市場に衝撃を与えました。</a>
イスラエルがイランに対する報復策を検討しているという見出しにより、株式市場は急落し、金の価格が急騰しました。
何が起こったのか：チャンネル12は、イスラエルの内閣がイランに「明確で力強い」対応することを決定したと発表し、これはイスラエルが「このような大規模な攻撃を受けても無反応でいることは許さない」というイスラエルの信号を意味しています。
イスラエルの国防大臣ヨアブ・ガランは、イランがイスラエルに対する直接攻撃を繰り返すことを耐えかねると米国国防長官ロイド・オースティンに伝えましたが、この対応は中東全体を巻き込むような地域全体の紛争に発展することを回避します。 
国家安全保障会議報道官のジョン・カービーは、イランの攻撃を「壮大で恥ずべき失敗」と表現し、今日の「世界の多くはイスラエルとともに立っている」と強調しました。
先週日曜日、G7首脳会議は、イランのミサイル計画に対する新たな制裁を検討しており、イスラエルを支持しつつ、さらなるエスカレーションを防ぎたいと考えています。 
バランスのとれたアプローチを提唱する国務長官アントニー・ブリンケンは、「力と知恵は同じコインの異なる面でなければならない」と述べ、状況を慎重にかつ断固として処理することを示唆しました。ブリンケンはまた、地域のパートナーとの継続的な協議を確認し、外交努力を約束します。
<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">
米国はイスラエルを支援することを約束しています。イランによるイスラエルへの前代未聞の攻撃に続き、我々は外交的な対応を調整し、エスカレーションを防ごうとしています。 <a href="https://t.co/9gW2gC8Y5s">pic.twitter.com/9gW2gC8Y5s</a>
&mdash; Secretary Antony Blinken (@SecBlinken) <a href="https://twitter.com/SecBlinken/status/1779940420174155836?ref_src=twsrc%5Etfw">2024年4月15日</a></blockquote>
</div>
</figure>
一方、中国は国連で、イランの行動をイスラエルの侵略に対する正当防衛として擁護する一方で、対照的な意見を述べました。 「イランには自衛権があります。イスラエルは国際法に違反してイラン領事館を攻撃しました。イランは反応し、自国の法的権利を行使しました」と述べました。 
なぜ重要なのか：米欧の同盟国は、世界的な影響を持つような地域全体の戦争の拡大を避けるようイスラエルに何度も警告しています。 
人的被害の観点でのみならず、イランとイスラエルの間の戦争の経済的影響は、世界経済にとって極めて破壊的であると言えます。
最初のリスクの1つは、原油価格の上昇に関連するものです。イランの原油生産は現在、世界供給の約3.4mb/d（3.3％）に上昇しています。
ゴールドマン・サックスによると、現在世界の17%の原油生産が流れているホルムズ海峡の原油の流れが途絶すると、1か月で原油価格が20%上昇し、途絶が数か月間続くと、最終的には2倍になります。 
市場の反応 SPDR S&amp;P 500 ETF トラスト（NYSE：<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>）は米国東部時間3:00pm現在、1.2％下落し、2か月ぶりの最低水準でのクローズを予想しています。
先週金曜日の損失率1.8％に追随した形で、米国株中心のInvesco QQQ トラスト（NASDAQ：<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>）は1.6％低下しました。 
不動産セレクトセクター SPDR トラスト（NYSE：<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>）は2.1％ダウンし、リアルタイムで総合株指数において最大の損失を記録しました。 
仮想通貨市場は一段と悪化し、仮想通貨は大損を報告しました。 ビットコイン（CRYPTO：<a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>）は6％下落し、62400ドルとなりました。 イーサリアム（CRYPTO：<a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>）は、4.1％下落し、3024ドルとなりました。
一方、ゴールド（金）やシルバーは急激に上昇し、投資家たちはこぞって安全な資産に逃避しました。
SPDR ゴールド トラスト（NYSE：<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>）は1.5％上昇し、史上最高のクローズを記録しました。 シルバーは、2月2021年以来の最高値でのクローズを目指し、2.9％上昇しました、というのも iShares シルバー トラスト（NYSE：<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>）が報じています。
原油は、米国の早い時間帯の損失を取り消し、西テキサス中間原油はバレル85ドルを超える急騰を見せました。米国石油基金（United States Oil Fund）（NYSE：<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>）は0.1％上昇しました。 
チャート：2024年4月15日におけるSLV、GLD、USO、SPY、QQQ、BTCの株価
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/15150756/image-79-1024x495.png" alt="" class="wp-image-292577" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/15150756/image-79-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/15150756/image-79-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/15150756/image-79-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/15150756/image-79-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/15150756/image-79.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
今すぐ読む: <a href="https://www.benzinga.com/news/24/04/38239994/financial-markets-on-edge-as-oil-and-gold-prices-could-soar-amid-rising-israel-iran-tensions">イスラエルとイランの緊張が高まる中、原油と金の価格が急騰する可能性があるため、金融市場は緊迫している</a>
写真：シャッターストック
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