President Donald Trump disclosed his knowledge of Israel&#8217;s planned attacks on Iran and said that he tried to delay them in hopes of securing a deal.



What Happened: Trump revealed in a phone interview with Reuters on Friday that he was aware of Israel&#8217;s impending attacks on Iran, despite his efforts to prevent them.



The president expressed hope for a nuclear agreement with Iran, stating, &#8220;They can still work out a deal, however, it's not too late.&#8221;



Trump had urged Benjamin Netanyahu, the Israeli Prime Minister, to delay military action to allow for diplomatic negotiations. However, he praised the strikes as &#8220;excellent&#8221; and &#8220;very successful&#8221; in several media interviews.



The U.S. president voiced support for Israel&#8217;s military actions, indicating a readiness to use force to hinder Iran&#8217;s nuclear ambitions. Despite some allies advocating for restraint, Trump emphasized the strong U.S.-Israel alliance, stating, &#8220;We've been very close to Israel. We're their number one ally by far.&#8221;



See Also: <a href="https://benzinga.com/markets/tech/25/06/45897537/jamie-dimon-recalls-first-palantir-meeting-holy-christ-this-is-unbelievable-jpmorgan-now-has-600-ai-">Jamie Dimon Recalls First Palantir Meeting: &#8216;Holy Christ, This Is Unbelievable—&#8217; JPMorgan Now Has 600 AI Use Cases, $2 Billion Annual Investment On AI</a>



Later, two U.S. officials confirmed that the American military assisted in intercepting Iranian missiles targeting Israel, underscoring the U.S.&#8217;s commitment to its ally.



Why It Matters: Trump's statement comes after Marco Rubio, the Secretary of State and National Security Adviser, emphasized that <a href="https://www.benzinga.com/news/politics/25/06/45919250/trump-administration-distances-us-from-israels-strikes-on-iran-we-are-not-involved-says-marco-rubio">Israel acted independently</a>. He stated, "We are not involved in strikes against Iran and our top priority is protecting American forces in the region." Rubio also warned Iran against targeting U.S. interests or personnel.



While Trump supports Israel&#8217;s actions, his administration has sought to separate itself from these strikes.



Following the strikes, Trump issued a <a href="https://www.benzinga.com/news/politics/25/06/45922022/trump-issues-stark-warning-to-iran-to-make-a-deal-after-israels-strikes-on-nuclear-sites-just-do-it-before-its-too-late">stern warning to Iran</a>, urging the nation to negotiate a deal or face severe consequences. This warning underscores the heightened tensions and the potential for further escalation.



The escalating conflict between Iran and Israel is also impacting global markets. Rising tensions and Trump&#8217;s threats have led to increased uncertainty, causing a shift from <a href="https://www.benzinga.com/markets/market-summary/25/06/45922513/global-markets-slide-as-iran-israel-conflict-heats-up-oil-soars">equities to safe-haven assets like gold</a>. Additionally, crude oil prices are soaring as the conflict threatens OPEC&#8217;s crude supply.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/06/45919250/trump-administration-distances-us-from-israels-strikes-on-iran-we-are-not-involved-says-marco-rubio">Trump Administration Distances US From Israel&#8217;s Strikes On Iran: &#8216;We Are Not Involved,&#8217; Says Marco Rubio</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: Joey Sussman / Shutterstock.com

News

Marco Rubio's 'We Are Not Involved' To Trump's 'We Knew Everything' About Israel's Strikes On Iran

Minnesota Gov. Tim Walz (D) said Saturday morning that a Democratic state legislator and her husband were killed, and another lawmaker and his wife injured, in separate &#8220;targeted shootings&#8221; at their homes.



What Happened: According to a <a href="https://www.nbcnews.com/news/us-news/targeted-shootings-minnesota-rcna212831">report</a> by NBC News, state Rep. Melissa Hortman and her husband were shot and killed and state Sen. John Hoffman and his wife were shot and wounded. The suspect involved in the shootings is still at large. Both lawmakers were members of the Minnesota Democratic–Farmer–Labor Party.



Authorities have suggested that the shooter may have been impersonating law enforcement and visited the lawmakers&#8217; homes, which are approximately eight miles apart in suburbs north of Minneapolis.



Sen. Amy Klobuchar (D-Minn.) referred to the shootings as "a stunning act of violence" in a social media post. She expressed gratitude for the law enforcement&#8217;s real-time response and offered prayers for the Hortman and Hoffman families.



Earlier on Saturday, Walz stated that he had been&nbsp;briefed about the "targeted shootings,"&nbsp;and that&nbsp;the Minnesota Department of Public&nbsp;Safety and local law enforcement&nbsp;were on the scene. The&nbsp;Brooklyn Park Police Department issued&nbsp;a shelter-in-place alert for an&nbsp;area surrounding the Edinburgh Golf&nbsp;Course Saturday morning in its&nbsp;search for the suspect.

Politics

Walz: Minnesota Lawmaker and Spouse Killed In 'Politically Motivated Assassination'

U.S. markets ended a choppy week on a cautious note, as modest gains through Thursday reversed sharply on Friday after escalating tensions between Israel and <a href="https://www.benzinga.com/news/politics/25/06/45922022/trump-issues-stark-warning-to-iran-to-make-a-deal-after-israels-strikes-on-nuclear-sites-just-do-it-before-its-too-late">Iran rattled investor sentiment.</a>



Major equity indices, which had been hovering near all-time highs, pulled back as geopolitical risks surged back to the forefront.



The S&amp;P 500 – as tracked by the Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) – ended 1.1% lower for the week, falling below the 6,000-point threshold. 



<h3 class="wp-block-heading">Oil's Back In Focus—And Gold Is Eyeing New Highs</h3>



Late Thursday, Israel launched &#8220;Operation Rising Lion,&#8221; a sweeping aerial campaign targeting approximately 100 Iranian nuclear and military installations, reportedly killing several high-ranking officials. Iran responded by launching over 100 drones toward Israeli territory and vowed severe retaliation, raising fears of a <a href="https://www.benzinga.com/news/topics/25/06/45933856/iran-fires-ballistic-missiles-at-israel-tel-aviv-struck">broader regional escalation.</a>



Oil markets reacted swiftly: West Texas Intermediate crude surged past $70 a barrel, capping a double-digit percentage gain for the week — <a href="https://www.benzinga.com/markets/commodities/25/06/45924154/the-120-oil-shock-just-became-a-real-risk-are-we-back-in-2022">its strongest in years.</a>



On the economic front, the much-feared tariff-driven inflation failed to materialize in May, with <a href="https://www.benzinga.com/markets/economic-data/25/06/45881899/inflation-resumes-climb-in-may-but-tariffs-have-yet-to-hit-consumers">consumer</a> and <a href="https://www.benzinga.com/markets/economic-data/25/06/45902987/producer-inflation-rises-less-than-forecasts-in-may-jobless-claims-signal-labor-market-cracks">producer</a> price reports generally coming in broadly below expectations.



Under normal circumstances, such data would have bolstered hopes for Federal Reserve rate cuts and likely sparked a rally on Wall Street. But the rally failed to materialize as soaring energy prices clouded the disinflation narrative.



Sector-wise, energy stocks led the weekly gains, buoyed by the oil rally, while financials underperformed. Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) <a href="https://www.benzinga.com/analyst-stock-ratings/price-target/25/06/45924707/oracle-to-rally-around-11-here-are-10-top-analyst-forecasts-for-friday">delivered a standout performance</a> – climbing by over 20% on its best weekly return since 2001 – following stronger-than-expected quarterly earnings and upbeat guidance.



Currency markets were also in motion. The U.S. dollar came under renewed pressure, with a key index tracking the greenback falling to its lowest level <a href="https://www.benzinga.com/markets/economic-data/25/06/45906982/dollar-hits-27-month-lows-the-fed-should-cut-next-week-economist-says">in over three years.</a> 



Investors appeared increasingly uneasy about the long-term trajectory of U.S. fiscal policy, particularly as President Donald Trump's sweeping "One Big, Beautiful Bill" heads to the Senate.



Safe-haven demand for precious metals remained robust. Gold extended its powerful 2025 rally, supported by both geopolitical instability and persistent worries over the U.S. debt burden. The precious metal is on track to deliver its strongest <a href="https://www.benzinga.com/markets/guidance/25/06/45928561/gold-biggest-boom-in-decades-and-investors-are-still-missing-out">first-half performance since 1982.</a>



Silver also inched higher, hitting the <a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/06/45847216/silver-supercycle-you-never-have-enough-of-it-hedge-fund-analyst-says-as-50-level-looms">highest levels since 2012</a>.&nbsp;



All eyes now turn to the Federal Reserve's policy meeting next week. While no change to interest rates is expected, markets will scrutinize any shifts in the Fed's economic projections. In March, policymakers forecast 2025 GDP growth at 1.7% — down from 2.1% in December — and a 2.7% average inflation rate, revised upward from 2.5%.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/25/06/45922827/the-dollar-is-crumbling-and-hedge-fund-analyst-says-a-new-global-trade-is-brewing">The Dollar Is Crumbling, And Hedge Fund Analyst Says A New Global Trade Is Brewing </a></li>
</ul>



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Soft Inflation Data Meets Middle East Turmoil: This Week In Markets

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



Escalating geopolitical tensions in the Middle East — especially the Israel‑Iran conflict — and unexpectedly soft U.S. inflation data produced choppy market action this week. The S&amp;P 500 pulled back from all‑time highs as oil jumped above $70, marking its largest weekly gain in years.



Energy stocks led sector gains amid rising oil, while gold and silver rallied on demand for havens. Oracle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) stood out, climbing 20% after strong earnings. The U.S. dollar dipped to a three-year low against major currencies.



Looking ahead, investors are watching the Federal Reserve's upcoming meeting and U.S.–China trade discussions. Any change in rate guidance or geopolitical escalation could significantly sway market sentiment in the near term.



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







The Bulls



<a href="https://www.benzinga.com/news/health-care/25/06/45927918/zepbound-put-eli-lilly-on-top-now-its-next-big-move-could-supercharge-the-stock">"Zepbound put Eli Lilly on top — now its next big move could supercharge the stock"</a>, by Surbhi Jain, reports that JPMorgan sees continued upside for Eli Lilly and Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) as strong Zepbound prescription growth positions the company for even greater gains from upcoming Orforglipron data, with the franchise projected to generate $79 billion in sales by 2030.



<a href="https://www.benzinga.com/trading-ideas/long-ideas/25/06/45909275/trumps-nuclear-play-fuels-oklos-stock-boom-and-the-ride">"Trump's nuclear play fuels Oklo's 566% stock boom — and the ride may be far from over"</a>, by Surbhi Jain, reports that Oklo Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKLO#NYSE">OKLO</a>) shares surged 566% over the past year, fueled by Donald Trump's executive order accelerating nuclear development and a Pentagon microreactor contract, while bullish technicals suggest momentum may continue despite overbought signals.



<a href="https://www.benzinga.com/markets/tech/25/06/45885805/nvidias-jensen-huang-sparks-quantum-stock-frenzy">"Nvidia's Jensen Huang sparks quantum stock frenzy"</a>, by Erica Kollmann, reports that Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang declared quantum computing has reached an "inflection point," sparking sharp rallies in quantum stocks like Quantum Computing Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QUBT#NASDAQ">QUBT</a>) and Rigetti Computing (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>).



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



<a href="https://www.benzinga.com/markets/earnings/25/06/45893773/oracle-q4-earnings-revenue-eps-beat-estimates-cloud-infrastructure-growth-expected-to-accelerate-with-demand-skyrocketing">Oracle Q4 Earnings: Revenue, EPS Beat Estimates, Cloud Infrastructure Growth Expected To Accelerate With Demand ‘Skyrocketing'</a>



<a href="https://www.benzinga.com/trading-ideas/movers/25/06/45915485/rh-stock-surges-on-q1-earnings-beat-despite-worst-housing-market-in-50-years">RH Stock Surges On Q1 Earnings Beat Despite ‘Worst Housing Market' In 50 Years</a>



<a href="https://www.benzinga.com/trading-ideas/movers/25/06/45902627/us-listed-chinese-tech-and-ev-stocks-slide-as-trump-confirms-china-trade-deal">US Listed Chinese Tech And EV Stocks Slide As Trump Confirms China Trade Deal</a>







The Bears



<a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/06/45888833/mcdonalds-just-got-hammered-by-weight-loss-drugs-twice">"McDonald's just got hammered by weight‑loss drugs — twice"</a>, by Piero Cingari, reports that McDonald's Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) could lose as much as 28 million annual visits — equal to $481.5 million in revenue — due to appetite‑suppressing GLP‑1 drugs, prompting a rare double downgrade to Sell as analysts warn of a potentially cumulative 10% hit to sales.



<a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/06/45888497/bitcoin-probably-wont-fix-gamestops-troubles">"Bitcoin probably won't fix GameStop's troubles"</a>, by Chris Katje, reports that Wedbush analyst Michael Pachter maintains an Underperform rating on GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>), warning that its Bitcoin investment could add valuation volatility while its core video game business shows "no potential for a rebound."



<a href="https://www.benzinga.com/trading-ideas/short-ideas/25/06/45910389/short-seller-says-applovin-is-desperate-and-doomed-shares-slide">"Short seller says AppLovin is ‘desperate and doomed,' shares slide"</a>, by Surbhi Jain, reports that a noted short seller labeled AppLovin Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) "desperate and doomed" — citing inflated marketing costs and slowing user growth — prompting a sharp share price decline.



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



<a href="https://www.benzinga.com/markets/earnings/25/06/45872191/gitlab-stock-drops-after-q1-report-q2-revenue-guidance-below-estimate">GitLab Stock Drops After Q1 Report, Q2 Revenue Guidance Below Estimate</a>



<a href="https://www.benzinga.com/trading-ideas/movers/25/06/45873964/steel-stocks-slide-on-potential-us-mexico-tariff-deal-report">Steel Stocks Slide On Potential US-Mexico Tariff Deal: Report</a>



<a href="https://www.benzinga.com/trading-ideas/technicals/25/06/45893129/stock-of-the-day-is-nrg-energy-losing-steam-chart-pattern-signals-trouble-ahead">Stock Of The Day: Is NRG Energy Losing Steam? Chart Pattern Signals Trouble Ahead</a>







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



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Benzinga Bulls And Bears: Eli Lilly, Okto, McDonalds — And Israel-Iran Conflict Sparks Oil Surge

Each week,&nbsp;Benzinga&#8217;s Stock Whisper Index&nbsp;uses a combination of proprietary data and pattern recognition to showcase five stocks that are just under the&nbsp;<a href="https://www.benzinga.com/topic/stock-whisper-index" target="_blank" rel="noreferrer noopener">surface and deserve attention</a>.



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



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



Here's a look at the Benzinga Stock Whisper Index for the week ending June 13:



Intuit Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTU#NASDAQ">INTU</a>): The owner of TurboTax and other financial products saw strong interest from investors during the week. The company saw Wells Fargo maintain an Overweight rating and <a href="https://www.benzinga.com/quote/INTU/analyst-ratings">raise the price target</a> from $825 to $880. Intuit stock trades near all-time highs and has been gaining momentum since third-quarter results in May. The company beat analyst estimates for both revenue and earnings per share in the quarter. Analysts raised their price targets back in May with Wells Fargo latest note signaling more confidence in the company. Intuit's Mailchimp also <a href="https://investors.intuit.com/news-events/press-releases/detail/1257/intuit-mailchimp-unveils-powerful-new-suite-of-tools-at-fwd-london-to-help-businesses-unlock-their-customer-data">unveiled </a>a new set of tools at FWD: London during the week, which may create optimism for the potential of this segment.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0613"><img loading="lazy" decoding="async" width="1001" height="501" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/13180145/Screenshot-450.png" alt="" class="wp-image-949714" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/13180145/Screenshot-450.png 1001w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/13180145/Screenshot-450-300x150.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/13180145/Screenshot-450-768x384.png 768w" sizes="(max-width: 1001px) 100vw, 1001px" /></a></figure>



Casella Waste Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CWST#NASDAQ">CWST</a>): The solid waste removal company returns to the <a href="https://www.benzinga.com/trading-ideas/25/04/45029510/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet-62">Stock Whisper Index</a> with shares near all-time highs. Casella previously appeared on the list in April ahead of first-quarter financial results. A stock like Casella could be attracting investors given the mostly recession proof element of the sector and as part of an industry that could avoid tariffs. The company recently announced it will ring the Opening Bell at the Nasdaq on Tuesday, June 17, which could keep the stock in the spotlight next week.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0613"><img loading="lazy" decoding="async" width="993" height="494" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/13180159/Screenshot-451.png" alt="" class="wp-image-949715" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/13180159/Screenshot-451.png 993w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/13180159/Screenshot-451-300x149.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/13180159/Screenshot-451-768x382.png 768w" sizes="(max-width: 993px) 100vw, 993px" /></a></figure>



Carpenter Technology Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRS#NYSE">CRS</a>): The specialty metals company saw increased interest from readers during the week. The company reported third-quarter results in April with earnings per share beating estimates for a fifth straight quarter, while revenue came in shy of analyst estimates. Shares near all-time highs and are up over 45% year-to-date. The company received <a href="https://www.benzinga.com/quote/CRS/analyst-ratings">several analyst notes</a> in recent weeks with BTIG maintaining a Buy rating and raising the price target from $255 to $275 and Benchmark maintaining a Buy rating and raising the price target from $250 to $300.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0613"><img loading="lazy" decoding="async" width="999" height="499" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/13180213/Screenshot-452.png" alt="" class="wp-image-949716" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/13180213/Screenshot-452.png 999w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/13180213/Screenshot-452-300x150.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/13180213/Screenshot-452-768x384.png 768w" sizes="(max-width: 999px) 100vw, 999px" /></a></figure>



Wheaton Precious Metals Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WPM#NYSE">WPM</a>): Gold mining stocks have dominated the Stock Whisper Index in recent weeks and this week its Wheaton Precious Metals seeing strong interest from readers as the stock trades near all-time highs. The price of gold has <a href="https://www.benzinga.com/news/large-cap/25/05/45484902/gold-mining-stocks-were-among-top-10-large-cap-losers-last-week-may-12-may-16-are-these-in-your-portfolio">soared in recent weeks </a>and silver <a href="https://www.benzinga.com/markets/commodities/25/06/45792880/silver-hits-12-year-high-peter-schiff-says-rallys-just-starting">hit a new 12-year high. </a>In May, Wheaton Precious Metals beat earnings per share and revenue estimates from analysts. Gold and silver related stocks are likely to see continued strong interest going forward even ones like Wheaton that are near all-time highs.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0613"><img loading="lazy" decoding="async" width="997" height="501" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/13180231/Screenshot-454.png" alt="" class="wp-image-949717" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/13180231/Screenshot-454.png 997w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/13180231/Screenshot-454-300x151.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/13180231/Screenshot-454-768x386.png 768w" sizes="(max-width: 997px) 100vw, 997px" /></a></figure>



Applovin Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>): The mobile technology company saw increased interest thanks to <a href="https://www.benzinga.com/quote/APP/analyst-ratings">analyst investor notes</a> and a <a href="https://www.benzinga.com/trading-ideas/short-ideas/25/06/45910389/short-seller-says-applovin-is-desperate-and-doomed-shares-slide">new short report</a>. Applovin has been the subject of multiple short reports in recent years and this time around it was Culper Research alleging the company poses national security risks due to ties to China. Culper said Applovin CEO Adam Foroughi has denied the company has Chinese ownership or operational ties to China, but the short seller is skeptical and said Chinese national Hao Tang has backed the company since at least 2017. Culper put out a <a href="https://www.benzinga.com/trading-ideas/movers/25/02/43981217/applovin-stock-drops-on-multiple-short-reports-allegations-of-copying-meta-creating-smoke-an" target="_blank" rel="noreferrer noopener">short report</a> on AppLovin in February previously Muddy Waters and Fuzzy Panda Research are other companies with short reports on the company. The company recently <a href="https://www.benzinga.com/news/earnings/25/05/45269045/applovin-stock-shakes-off-short-seller-report-shares-surge-on-q1-earnings-beat" target="_blank" rel="noreferrer noopener">beat analyst estimates</a> for revenue and earnings per share in the first quarter. Despite the short reports, analysts have remained mostly in support of the company. JPMorgan recently maintained a Neutral rating on the stock, but raised the price target from $355 to $400. Morgan Stanley maintained an Overweight rating on the stock and raised the price target from $420 to $460. Applovin shares were down 9% during the week, but the stock remains up over 12% year-to-date and up over 300% in the last year.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0613"><img loading="lazy" decoding="async" width="999" height="500" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/13180244/Screenshot-455.png" alt="" class="wp-image-949718" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/13180244/Screenshot-455.png 999w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/13180244/Screenshot-455-300x150.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/13180244/Screenshot-455-768x384.png 768w" sizes="(max-width: 999px) 100vw, 999px" /></a></figure>



Stay tuned for next week&#8217;s report, and follow Benzinga Pro for all the latest headlines and <a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0613" target="_blank" rel="noreferrer noopener">top market-moving stories here.</a>



Read the latest Stock Whisper Index reports here:



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



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



<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/05/45710022/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet-67">May 30</a></li>



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A social media account that tracks pizza shop activity near the Pentagon reportedly forecast Israel&#8217;s military strikes against Iran.



What Happened: The Pentagon Pizza Report, a social media account that keeps tabs on&nbsp;real-time foot traffic at pizza&nbsp;shops in the vicinity of the Pentagon, suggested that officials were working late hours at the government building, potentially hinting at an impending conflict. 



The account reported increased activity at four local pizza outlets hours before Israel launched Operation Rising Lion.



The report states that the strikes occurred late Thursday evening. The account kept posting updates about the nearest and second-nearest Domino&#8217;s to the Pentagon before and after the airstrikes.&nbsp;



<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">With about an hour left before close, the 2nd closest Dominos to the Pentagon (about 8 min drive) is experiencing EXTREMELY high levels of traffic compared to a normal Thursday at about 11:00pm ET. <a href="https://t.co/TnItUDysyq">pic.twitter.com/TnItUDysyq</a>&mdash; Pentagon Pizza Report (@PenPizzaReport) <a href="https://twitter.com/PenPizzaReport/status/1933359798122119612?ref_src=twsrc%5Etfw">June 13, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



A post at 8:57 p.m.&nbsp;reported a spike in traffic at one of the outlets.



Not just Domino&#8217;s, the account also monitored activity at&nbsp;Freddie&#8217;s Beach Bar and District&nbsp;Pizza Palace in the area.&nbsp;It reported&nbsp;&#8220;high levels of traffic&#8221; compared&nbsp;to a typical Thursday.&nbsp;The Pentagon Pizza Report has&nbsp;a following of over 50,000 and its posts garner nearly millions of views.



Also Read: <a href="https://www.benzinga.com/news/topics/25/06/45933856/iran-fires-ballistic-missiles-at-israel-tel-aviv-struck">Iran Fires Ballistic Missiles At Israel, Tel Aviv Struck</a>



Post the event, the account shifted its focus to pizza shops near the White House, informing followers about another significant increase in activity at the closest Domino&#8217;s.



Why It Matters: This unusual method of predicting significant international events highlights the potential of unconventional data sources in forecasting geopolitical events. 



The Pentagon Pizza Report, through its tracking of pizza shop activity, was able to anticipate a major military operation hours before it was initiated. This incident underscores the importance of diverse data points in understanding and predicting global events. 



The account&#8217;s large following and the millions of views its posts attract also indicate the public&#8217;s interest in such unconventional sources of information.



While this method may not replace traditional intelligence gathering, it certainly adds a new dimension to the field. 



The Pentagon Pizza Report&#8217;s success in predicting &#8220;Operation Rising Lion&#8221; could inspire similar initiatives that leverage unconventional data sources to predict major events.



Read Next



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Image: Shutterstock/Rawpixel.com

Intel Clues Hidden in Pizza Orders? Pentagon Orders Surged Just Before Israel Hit Iran

As gold teases all-time highs, peaking at <a href="https://www.benzinga.com/markets/guidance/25/06/45928561/gold-biggest-boom-in-decades-and-investors-are-still-missing-out">$3,446 an ounce on Friday</a> and logging its best half-year rise in more than 40 year, investors are scrambling into ETFs to join the party. Yet as several gold ETFs have tracked the metal&#8217;s rocket-like run, a more fundamental question is rising to the surface: Are these ETFs designed for the type of crisis driving gold&#8217;s rise?



That is, can your gold ETF really save you when it counts?



<h2 class="wp-block-heading">When Safe-Haven Investing Gets Technical</h2>



Gold&#8217;s rally this year has been fueled by a powerful combination of Middle East tensions, U.S. fiscal instability, and weakening dollar. But in the midst of all the macro upheaval, investors in ETFs might be overlooking an important nuance: the structural strength of their gold holdings.



On the surface, highly traded ETFs such as the SPDR Gold Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>), abrdn Physical Gold Shares ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGOL#NYSE">SGOL</a>), and SPDR Gold MiniShares Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLDM#NYSE">GLDM</a>) appear to be identical. They all aim to track the price of gold, have low expense ratios, and are traded with lots of liquidity. However, beneath the surface, the distinctions might prove fatal in an actual crisis situation.



Consider storage, for instance. GLD holds much of its gold in the <a href="https://www.spdrgoldshares.com/media/GLD/file/GLD-8K-Nov30-2022.pdf?">vaults </a>of HSBC in London, subject to UK law. SGOL <a href="https://www.onegold.com/etfs/sgol?">holds </a>its bullion in Zurich and London, and IAU has <a href="https://www.ishares.com/us/literature/prospectus/p-ishares-gold-trust-prospectus-12-31.pdf?">vaults </a>in New York, Toronto, and London. During times of peace, this is a small asterisk. During wartime, or during sanctions, sovereign freezes, or bank disruptions, geography of the vault can be the weak spot or secret advantage of an ETF.



Also, not all ETFs have the same redemption rights. GLD permits large institutions to trade shares for real bullion, but individual investors can&#8217;t. SGOL has more transparency in auditing and bar listings, and while GLDM is less expensive, it&#8217;s less accommodating in redemption and verification.



<h2 class="wp-block-heading">Liquidity Vs. Ownership</h2>



And then there&#8217;s the derivative problem. Certain &#8220;gold&#8221; ETFs don&#8217;t own any physical gold at all, opting for futures or swap contracts instead, subjecting investors to counterparty risk, particularly in times of market stress. Invesco DB Precious Metals Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DBP#NYSE">DBP</a>) and ProShares Ultra Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UGL#NYSE">UGL</a>) are examples of such speculative funds, constructed more for short-term tactical use than long-term crisis protection.



To investors leveraging gold as a hedge against monetary breakdown, this makes all the difference. A futures-backed gold ETF can track price beautifully, until liquidity evaporates or the roll cost is unsustainable.



Global central banks are voting with their vaults. They've bought over 1,000 tonnes of gold in the last year, according to the World Gold Council, cited in a Bloomberg <a href="https://www.bloomberg.com/news/articles/2025-06-03/gold-market-s-record-breaking-rally-powered-by-central-bank-buying?sref=TBDibEcD">report</a>, and now hold bullion equivalent to 18% of outstanding U.S. public debt—up from 13% a decade ago.



That&#8217;s had a long shadow over Treasuries and the dollar, and might drive more institutional money into physical gold exposure. If it does, ETFs that stockpile actual bullion, not promises to deliver bullion, might be the next best thing.



<h2 class="wp-block-heading">Know Your Gold</h2>



As gold charges toward $3,500, and possibly even $4,000 by mid-2026, according to Goldman <a href="https://www.cnbctv18.com/market/commodities/gold-prices-today-down-two-factors-may-hold-it-up-19605598.htm">projections</a>, ETF investors need to peer past the shiny charts.



Price is only part of the equation. In a time of geopolitical uncertainty, structural transparency, redemption rights, and vault geography may be what distinguishes gold ETFs that glitter from those that merely shine.



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>ETF</th><th>Structure</th><th>Storage Location</th><th>Redeemable for Gold?</th><th>Expense Ratio</th></tr><tr><th>GLD</th><th>Physical</th><th>HSBC vault, London (U.K.); New York (U.S.A.); Zurich (Switzerland)</th><th>Yes (institutions only)</th><th>0.40%</th></tr><tr><th>IAU</th><th>Physical</th><th>New York (U.S.A.), Toronto (Canada), Zurich (Switzerland) vaults</th><th>Yes (institutions)</th><th>0.25%</th></tr><tr><th>SGOL</th><th>Physical</th><th>Zurich (Switzerland), London (U.K.)</th><th>Yes</th><th>0.17%</th></tr><tr><th>GLDM</th><th>Physical</th><th>London (U.K.) —smaller bars</th><th>Limited</th><th>0.10%</th></tr><tr><th>UGL</th><th>Derivatives</th><th>N/A (futures-based)</th><th>No</th><th>0.95%</th></tr></thead></table><figcaption class="wp-element-caption">Key Gold-Backed ETFs – At a Glance </figcaption></figure>

Specialty ETFs

GLDM

SGOL

Are Gold ETFs Really A Hedge During A Geopolitical Crisis? Here's What To Check Before Investing

In a grand show of celebration, President Donald Trump is preparing to mark his 79th birthday with a massive military parade in Washington D.C., an event anticipated to draw as many as 200,000 attendees.



The parade serves a dual purpose: it&#8217;s a birthday celebration for President Trump and a formal tribute to the U.S. Army. The event is timed to coincide with Trump&#8217;s birthday and the Father&#8217;s Day weekend.



The parade, which could set the federal government back by up to $45 million, is likely to attract both supporters and critics of the Trump administration. Nationwide &#8220;No Kings&#8221; Day protests are being organized by critics, who are expecting millions to voice their disapproval of Trump&#8217;s extensive use of executive authority.



The birthday parade follows a week of intense scrutiny for the president, who recently deployed&nbsp;the National Guard and marines&nbsp;to Los Angeles in response to protests. 



This decision was met with criticism from California Gov.&nbsp;Gavin Newsom&nbsp;and other national Democrats, who labeled it as authoritarian.



Also Read: <a href="https://www.benzinga.com/news/politics/25/06/45829416/trump-allegedly-calling-people-to-claim-elon-musk-has-serious-drug-problem-big-time-drug-addict">Trump Allegedly Calling People To Claim Elon Musk Has Serious Drug Problem: &#8216;Big-Time Drug Addict&#8217;</a>



Despite the controversy and potential thunderstorms, Trump&#8217;s birthday parade has been a long time coming. The president has expressed his wish to display America&#8217;s military might since before his first inauguration, inspired by the Bastille Day celebration in Paris.



The event, put together by America250, will host&nbsp;veterans, active-duty troops, wounded warriors, and Gold Star Families, along with&nbsp;members of the general public.&nbsp;



The display will include up to 120 military vehicles, such as&nbsp;Abrams tanks, Bradley Infantry Fighting&nbsp;Vehicles, and military helicopters.



The parade, despite its celebratory intent, comes at a time of heightened tension and controversy surrounding the Trump administration. 



The president&#8217;s decision to deploy military forces in response to protests in Los Angeles has sparked nationwide criticism, with many viewing it as an overreach of executive authority. The &#8220;No Kings&#8221; Day protests planned in response to the parade further underscore the division and discord that currently characterizes the political landscape. 



As such, the parade serves as a stark reminder of the ongoing debates about the balance of power in the U.S. government.



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Image: Shutterstock/Joey Sussman

Tanks, Helicopters, and a Parade: Inside Donald Trump's Over-the-Top 79th Birthday Bash

<a href="https://www.benzinga.com/markets/large-cap/25/06/45870128/meta-platforms-enters-its-most-bullish-month-a-return-to-record-highs-in-sight">Meta</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) is reportedly preparing to invest more than $10 billion in Scale AI, a startup providing high-quality labeled data to companies building next-generation <a href="https://www.benzinga.com/news/25/05/45533284/the-models-are-getting-better-but-theyre-also-more-likely-to-be-good-at-bad-stuff-tech-experts-sound-the-alarm-as-ai-charges-on">AI</a> models, including OpenAI and Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>). If finalized, the deal would rank among the largest private funding rounds in tech history,<a href="https://www.bloomberg.com/news/articles/2025-06-08/meta-s-billion-dollar-bet-cements-scale-ai-s-role-as-backbone-of-ai-market"> Bloomberg</a> reports.



San Francisco-based, Scale AI plays a pivotal role in the artificial intelligence supply chain by powering data pipelines used to train large language models like ChatGPT and Meta's Llama. According to<a href="https://www.investors.com/news/technology/meta-stock-scale-ai-generative-ai-2025-zuckerberg/"> Investor&#8217;s Business Daily</a>, Meta's potential investment builds on its prior participation in Scale's $1 billion Series F round in 2024, which valued the firm at $18 billion.



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<h2 class="wp-block-heading">A Strategic Play To Secure AI's Most Valuable Resource</h2>



While chips and talent dominate most AI headlines, data remains the less-publicized pillar essential to building models that mimic human reasoning, Bloomberg says. Scale AI provides structured and labeled data by deploying a global network of contractors, including experts with PhDs and graduate degrees in medicine, law, and molecular biology.



The firm's high-level contributors create test scenarios and reinforce learning strategies for AI systems, ensuring that models produce accurate and context-aware responses, especially in industries such as healthcare and tax law. According to Bloomberg, as of this year, 12% of Scale's contributors involved in improving AI models held PhDs in fields such as molecular biology, while more than 40% had a master's degree, law degree, or MBA in their area of expertise.



Trending: Maximize saving for your retirement and cut down on taxes: <a href="https://www.benzinga.com/money/wideradvisor-retirement-planning">Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation</a>



Scale AI expects to generate $2 billion in revenue this year, more than doubling the $870 million earned last year, Bloomberg reports. This surge reflects the broader industry's increasing need for tailored datasets as synthetic training data begins to reach its performance limits.



<h2 class="wp-block-heading">Meta Aligns Infrastructure With Policy Power</h2>



Meta's relationship with Scale also serves the purpose of regulatory alignment. Scale CEO Alexandr Wang has become a regular presence in Washington, advising lawmakers on AI regulation and calling for a ‘national AI data reserve.' Bloomberg reports that lawmakers on Capitol Hill have welcomed his insights, viewing Scale as a bridge between Silicon Valley innovation and federal oversight.



Investor&#8217;s Business Daily says that Scale has also expanded its role in defense AI by contributing to projects such as Meta's Defense Llama model, designed for U.S. national security applications. This aligns Meta more closely with the U.S. government, following similar partnerships between Microsoft and OpenAI.



See Also:&nbsp; Invest where it hurts — and help millions heal:<a href="https://www.benzinga.com/money/a-cure-for-osteoarthritis-powered-by-everyday-investors-cytonics-is-looking-to-beat-big-pharma-and-disrupt-a-390-billion-market"> Invest in Cytonics and help disrupt a $390B Big Pharma stronghold</a>.&nbsp;



<h2 class="wp-block-heading">Risks, Scrutiny, And The Road Ahead</h2>



Despite its success, Scale has faced criticism for labor practices involving overseas contractors in countries like Kenya and the Philippines, where some workers were paid relatively little and reported psychological distress from reviewing harmful online content, Bloomberg reports. According to <a href="https://techcrunch.com/2025/05/09/the-department-of-labor-just-dropped-its-investigation-into-scale-ai/">TechCrunch</a>, the U.S. Department of Labor has since closed its investigation into the company's compliance with wage regulations, but ongoing scrutiny remains a reputational concern.



According to Bloomberg, insiders say discussions between Meta and Scale are ongoing and could still shift. Regardless of a final number, Meta's expected commitment may redefine the race for control of the AI data layer, strengthening Scale AI's position at the heart of artificial intelligence's next chapter.



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Meta In Talks To Invest Over $10B In Scale AI — Possibly The Biggest Private AI Deal This Year

Arc, a California-based startup founded in 2021 by former <a href="https://www.benzinga.com/news/politics/25/06/45831511/boeing-737-max-deliveries-to-china-restart-after-month-long-pause-amid-trade-tensions-with-us-over-trumps-tariffs">Boeing</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) engineers Mitch Lee and Ryan Cook,<a href="https://arcboats.com/blog/introducing-the-arc-coast-center-console"> announced</a> on May 15 its third <a href="https://www.benzinga.com/news/22/12/30170910/general-dynamics-electric-boat-awarded-5-1b-by-us-navy-for-columbia-class-submarines">all-electric boat</a> model, the Arc Coast, priced at $168,000.



The new 24-foot vessel follows the sold-out Arc One and the still-available Arc Sport, originally priced at $300,000 and $268,000, respectively, and offers a more affordable entry point for recreational boaters. According to <a href="https://electrek.co/2025/05/15/arc-boats-announces-new-cheaper-arc-coast-center-console-electric-boat/">Electrek</a>, this new model is aimed at broader recreational markets, offering simplified design and reduced material costs while still delivering the power and performance of its predecessors.



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<h2 class="wp-block-heading">Arc Coast Has a 226kWh Battery, 50 MPH Top Speed, and Open Deck for 10 Passengers</h2>



Arc Coast features a high-voltage 226 kWh battery, the same system used in the Arc Sport, which, according to Electrek, gives the boat a top speed of 50 miles per hour and a cruising time of four to five hours on a single charge. Instead of the large outboard engines common in traditional boats, Arc says it uses a compact sterndrive system.



The open deck accommodates up to 10 passengers, creating more room for fishing, relaxing, or swimming without the bulk and noise associated with combustion engines, Electrek reports.



Arc said in a<a href="https://www.prnewswire.com/news-releases/arc-unveils-the-arc-coast-an-all-electric-evolution-of-the-center-console-302455358.html"> statement</a> that the center console format has long been used for fishing and sandbar outings, offering flexible movement and social space. The Arc Coast was designed from scratch to deliver quiet electric performance, streamlined software, and a simplified ownership experience compared to traditional gas-powered boats. The design also enables Arc to simplify the layout and reduce material costs.



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&#8220;People love center consoles, but the experience hasn&#8217;t improved,&#8221; Lee said in the statement. &#8220;The Arc Coast is what you get when you start from scratch: all the benefits of quiet and powerful electric performance, powered by advanced software, and paired with an ownership experience free from many of the headaches common with today&#8217;s gas boats.&#8221;



<h2 class="wp-block-heading">Arc Targets Cleaner Seas With Rapid Production Timeline</h2>



According to the<a href="https://www.epa.gov/dera/learn-about-impacts-diesel-exhaust-and-diesel-emissions-reduction-act-dera"> Environmental Protection Agency</a>, diesel-powered boats contribute significantly to marine pollution through oil leaks, ground-level ozone, and toxic emissions that impact coastal ecosystems. Electric boats offer a cleaner alternative because they are quieter, require less maintenance, and can be charged with energy from renewable sources, Arc says.



Even when factoring in the environmental cost of lithium-ion battery production, a 2016<a href="https://strathprints.strath.ac.uk/79097/1/Park_etal_AE_2022_Live_life_cycle_assessment_of_the_electric.pdf"> report</a> suggests that electric marine transport remains more sustainable than extracting and burning billions of tons of fossil fuels each year.



Arc says it reused its existing battery system to reduce development time and expects to bring the Arc Coast to market in less than one year from prototype to production.



See Also: Maximize saving for your retirement and cut down on taxes: <a href="https://www.benzinga.com/money/wideradvisor-retirement-planning">Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation</a>



<h2 class="wp-block-heading">Market Opportunity In Premium Recreational Boating</h2>



While the $168,000 price tag still places the Arc Coast in the premium category, the cost is significantly lower than previous Arc models. The new model fits into a broader trend of electrification in transportation, where marine sectors are now undergoing rapid shifts toward battery-powered mobility, according to a 2025 report from<a href="https://www.grandviewresearch.com/industry-analysis/electric-boat-market-report"> Grand View Research</a>.



Interested buyers can reserve the Arc Coast directly through the company's <a href="https://arcboats.com/">website</a>, with deliveries expected to begin in 2026.



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<li>Inspired by Uber and Airbnb &#8211; Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets &#8211; <a href="https://www.benzinga.com/money/how-peter-thiel-turned-his-roth-ira-into-5-billion-and-why-accredited-investors-are-now-eyeing-this-smartphone-disruptor">with $1,000 you can invest at just $0.30/share!</a></li>
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Image: Shutterstock

Boeing Engineers Turn Startup Arc Into Marine Powerhouse With New $168K Electric Boat That Outpaces Gas Competitors

Anthropic co-founder Ben Mann says true "transformative AI" will arrive only after systems ace what he calls the "economic Turing test."



What Happened: Mann, in a recent appearance on the &#8216;No Priors&#8217; podcast, defined the &#8220;economic Turing test&#8221; as a workplace trial that forces hiring managers to choose between a month-long contractor and an AI agent for the same job.



Passing the test would mark "when things start to get really interesting from a societal and cultural standpoint," Mann noted.



Mann's yardstick swaps laboratory benchmarks for a market basket covering "50% of economically valuable tasks." Each human supervisor would "hire an agent" to perform the work. If, at the end of the month, the manager prefers the machine, "then it passed," he said.



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="No Priors Ep. 118 &#x7C; With Anthropic Co-Founder Ben Mann" width="500" height="281" src="https://www.youtube.com/embed/aStf54Vxy24?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div></figure>



Mann does warn that the exercise has its limitations. "Interviews are only a poor approximation of real-world job performance," he observed, dismissing current testing measures as limited and too theoretical.



See also: <a href="https://www.benzinga.com/markets/tech/25/06/45919978/larry-ellison-overtakes-jeff-bezos-mark-zuckerberg-to-become-worlds-second-richest-amid-oracles-watershed-moment">Larry Ellison Overtakes Jeff Bezos, Mark Zuckerberg To Become World&#8217;s Second Richest Amid Oracle&#8217;s &#8216;Watershed&#8217; Moment</a>



Anthropic has already run its Claude models through internal interviews and found them "extremely good," though Mann conceded that the formal trial "hasn't started" and might not come until after the firm's next release cycle. He pegged 2028 as a "quite possible" window for artificial general intelligence but cautioned that precise timelines remain guesswork.



Why It Matters: Mann&#8217;s coinage of the phrase &#8220;economic Turing test&#8221; builds on the Turing Test, which is a simple method of inquiry in artificial intelligence for determining whether or not a computer is capable of thinking like a human being.



OpenAI&#8217;s ChatGPT 4 became the first AI LLM to pass a two-player Turing test, fooling human conversation partners 54% of the time back in July 2024. GPT-4.5 achieved a 73% success rate in a more formal test in March earlier this year. However, critics have posed several reasons over the years challenging the accuracy of the test in determining the true intelligence of machines.



A new Wharton study also found that large language models now create <a href="https://www.benzinga.com/tech/25/03/44369538/ai-just-passed-the-meme-turing-test-study-finds-llms-now-create-funnier-memes-than-most-humans">memes humans rate as funnier</a> than the average person's, effectively passing the "meme Turing Test."



Anthropic's momentum is accelerating. A March Series E round pushed its <a href="https://www.benzinga.com/tech/25/03/44099466/bitcoin-ethereum-dogecoin-nosedive-as-trumps-tariff-moves-wipe-out-crypto-reserve-fueled-gains-analyst-says-breaking-through-this-barrier-will-help-btc-touch-new-highs">valuation to $61.5 billion</a>, positioning the startup backed by Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) as OpenAI's fiercest privately held rival.



Image via Shutterstock



Read next: <a href="https://www.benzinga.com/markets/tech/25/06/45900050/chatgpt-kept-begging-to-restart-before-being-beaten-by-1979-atari-2600-in-a-beginner-level-chess-showdown">ChatGPT Kept &#8216;Begging To Restart&#8217; Before Being Beaten By 1979 Atari 2600 In A &#8216;Beginner Level&#8217; Chess Showdown</a>



Image via Shutterstock

Tech

AMZN

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GOOGL

Anthropic Co-founder Says AGI 'Possible' By 2028 But 'Transformative AI' Will Have To Pass The 'Economic Turing Test'

President Donald Trump has given the green light to Nippon Steel&#8217;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NPSCY#OTC">NPSCY</a>) $14.9 billion acquisition of U.S. Steel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>). This concludes an 18-month journey marked by union resistance and dual national security assessments.



What Happened: Trump signed an executive order on Friday, permitting the merger to proceed, contingent upon the companies reaching an agreement with the Treasury Department to address national security concerns, according to a Reuters report on Saturday.



The companies confirmed they have signed the necessary agreement, fulfilling Trump&#8217;s conditions and effectively securing the merger&#8217;s approval.



The agreement includes a commitment to invest $11 billion by 2028, along with governance, production, and trade commitments. Nippon Steel will acquire a 100% stake in U.S. Steel, as stated by a spokesperson from the Japanese company.



However, details regarding the &#8220;golden share&#8221; promised to the U.S. government remain unclear. This share is intended to provide the government with veto power over significant decisions concerning U.S. Steel, according to U.S. Senator David McCormick (R-Pa.).



See Also: <a href="https://www.benzinga.com/news/politics/25/06/45938132/us-marines-detain-civilian-in-los-angeles-amid-immigration-protests-first-known-incident-of-its-kind-report">US Marines Detain Civilian In Los Angeles Amid Immigration Protests, First Known Incident of Its Kind: Report</a>



The report also noted that Nippon Steel plans an additional $3 billion investment for a new mill post-2028. This acquisition positions Nippon Steel to benefit from U.S. infrastructure projects while avoiding hefty breakup fees and tariffs faced by foreign competitors.



Why It Matters: The approval of this acquisition marks a significant shift in the U.S. steel industry landscape. Initially, President<a href="https://www.benzinga.com/25/05/45596866/president-trump-approves-us-steel-nippon-steel-partnership"> Trump had blocked Nippon Steel&#8217;s acquisition</a> attempt due to security concerns, leading to a partnership instead.



This partnership was projected to create 70,000 jobs and inject $14 billion into the U.S. economy.



In a strategic move to secure the deal, <a href="https://www.benzinga.com/markets/equities/25/05/45510183/nippon-steel-pledges-14-billion-including-new-us-mill-to-win-trumps-approval-for-us-steel-deal-report">Nippon Steel pledged</a> to invest $14 billion, including up to $4 billion for a new steel mill. This was part of a broader strategy to win the Trump administration&#8217;s approval.



Moreover, the U.S. government will maintain strategic control over U.S. Steel through a <a href="https://www.benzinga.com/government/regulations/25/05/45638403/us-government-to-hold-strategic-control-over-us-steel-in-149-billion-nippon-deal-david-mccormick-says">golden share arrangement</a>, granting it veto power over key operational decisions. This ensures that the U.S. retains influence over the steelmaker&#8217;s future.



Additionally, Trump doubled U.S.<a href="https://www.benzinga.com/news/topics/25/05/45708977/trump-doubles-steel-tariffs-to-50-saying-it-will-secure-american-jobs-backs-us-steels-takeover-by-japans-nippon"> tariffs on imported steel to 50%</a> in a bid to protect domestic jobs, while endorsing the sale of U.S. Steel to Nippon Steel. This tariff hike is seen as a measure to revitalize the American steel industry.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/06/45938055/marco-rubios-we-are-not-involved-to-trumps-we-knew-everything-about-israels-strikes-on-iran">Marco Rubio&#8217;s &#8216;We Are Not Involved&#8217; To Trump&#8217;s &#8216;We Knew Everything&#8217; About Israel&#8217;s Strikes On Iran</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: T. Schneider / Shutterstock.com

NPSCY

Trump Approves Nippon Steel's $14.9 Billion Bid For US Steel

Before the championships, <a href="https://www.benzinga.com/news/sports/25/06/45829858/shaq-settled-on-angel-reese-for-reebok-endorsement-due-to-budget-constraints-i-had-to-deal-with-something-i-never-had-to-deal-with">the shoe deals</a>, and the Superman tattoos, Shaquille O'Neal was just a massive fifth grader who couldn't get a sentence out without stuttering — and who coped by throwing spit wads and fists.



"I had to figure out two things," Shaq told In journalist Graham Bensinger in a brutally <a href="https://youtu.be/Mza5tTgh9hA?si=7aZHLThQYXK9VBYr">honest interview back in 2015</a>. "Either intimidate you or make you laugh. I was always a bully."



But even bullies have breaking points — and for young Shaq, it came after he got suspended for the millionth time.



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<li>Peter Thiel turned $1,700 into $5 billion—now accredited investors are eyeing this software company with similar breakout potential. Learn how you can <a href="https://www.benzinga.com/money/how-peter-thiel-turned-his-roth-ira-into-5-billion-and-why-accredited-investors-are-now-eyeing-this-smartphone-disruptor">invest with $1,000 at just $0.30/share.</a></li>
</ul>



"I threw a spit wad, it hit the chalkboard, it splattered — kid rats me out," Shaq said. "I go to the office. Three days' suspension. I already know what I'm getting when I get home."



His dad didn't hold back.



"He said, ‘You're irresponsible… You're a medium-level juvenile delinquent. And at this pace, you're going to be nothing in life. I'm not having that in my house.'"



But before he went home to face the music, Shaq had revenge to handle.



"Before I go home, I'm gonna whoop your ass," he recalled. "So I'm beating this kid up… I'm kicking this kid… and he has an epileptic seizure. Just me and the kid out there. He's on the ground shaking."



Shaq panicked. Someone ran over and helped the kid. Shaq ran home, bracing for the fallout.



"My mother decides, ‘You're too big and too strong. You can't ever do that again,'" he said. "And that kind of stayed with me. I was like, I don't want to do that anymore."



Trending: Invest where it hurts — and help millions heal:<a href="https://www.benzinga.com/money/a-cure-for-osteoarthritis-powered-by-everyday-investors-cytonics-is-looking-to-beat-big-pharma-and-disrupt-a-390-billion-market"> Invest in Cytonics and help disrupt a $390B Big Pharma stronghold</a>.



So he pivoted.



Instead of punching people, he'd try to get them to laugh.



"I was always a class clown, funny guy. So now, let me just do this a lot to get people to like me," Shaq said. "And I just stuck with that rather than being a bully."



But even when the fighting stopped, the insecurity didn't. Kids still made fun of him — for his size, for his speech, for being different.



"They used to call me ‘Shaquille Sasquatch,' ‘big African,' ‘big dummy,'" he said. "I stuttered when I talked. I was very, very shy. I always had self-doubts about myself and just never thought I could do anything."



That changed junior year of high school — thanks to an unlikely hero.



Right before the state tournament, Shaq was flunking government class. "I got a 68. I've got one test left," he said.



That's when the quiet, nerdy kid everyone picked on approached him at lunch.



"He came up to me and said, ‘Man, appreciate it. I hear you're having some problems in government. I could help you out,'" Shaq said.



Shaq stared at him. "I was like, what, you want to tutor me?"



He did. Every day after school.



"And the way he tutored me, I was like, this really is not that bad," Shaq said. "But because I had self-doubts and felt that I wasn't smart, I didn't even look at it. I was like, I'll never pass anyway."



But he did pass. And that one tutoring session turned into a lifeline.



"Whenever I had problems I was like, ‘Yo, I need help in chemistry.' He was always there for me."



See Also: Maximize saving for your retirement and cut down on taxes: <a href="https://www.benzinga.com/money/wideradvisor-retirement-planning">Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation</a>.



Looking back, Shaq gives that so-called "geek" full credit.



"A geek saved my life," he said. "That's when I realized that nerds and geeks are very cool people. And it also taught me another valuable lesson — you don't always have to judge people for who they are and what they do."



Turns out, leaning into geekdom paid off—big time.



These days Shaq isn't just a nerd—he's a tech-savvy one with an <a href="https://www.benzinga.com/personal-finance/24/09/40943843/we-aint-rich-im-rich-nba-legend-shaq-says-his-daughters-and-sons-dont-get-equal-treatment-my-boy">estimated net worth of $500 million</a>. He was an early backer of Google and <a href="https://www.benzinga.com/startups/24/09/40677330/shaq-refused-to-pay-80-000-for-security-and-made-a-surprising-choice-he-invested-in-a-company-bezos">got in on Ring</a>—before Amazon snapped it up for about $1 billion . On the franchise side, <a href="https://www.benzinga.com/personal-finance/25/03/44207096/shaq-said-his-krispy-kreme-store-was-likely-burned-down-by-homeless-trying-to-stay-warm-im-not-gonna-be-putting-charges-on-homeless-people">he owns a Krispy Kreme in Atlanta</a>, a handful of Papa John's restaurants, and even launched his own chicken chain, Big Chicken.



So yeah, the guy who once stuttered and threw spit‑wads in class now throws millions into Silicon Valley—and serves donuts while he's at it.



"Now I'm a nerd," he said. "And I'm a geek."



Just a very rich one.



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<li>Inspired by Uber and Airbnb &#8211; Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets &#8211; <a href="https://www.benzinga.com/money/how-peter-thiel-turned-his-roth-ira-into-5-billion-and-why-accredited-investors-are-now-eyeing-this-smartphone-disruptor">with $1,000 you can invest at just $0.30/share!</a></li>
</ul>



Image: Shutterstock

Personal Finance

'A Geek Saved My Life' — Shaq Says He Was A Bully With A Stutter Nicknamed 'Shaquille Sasquatch' And Thought He'd Never Be Smart Enough To Succeed

Cryptocurrency markets declined sharply on Friday as renewed <a href="https://www.benzinga.com/markets/market-summary/25/06/45922513/global-markets-slide-as-iran-israel-conflict-heats-up-oil-soars">Israel-Iran tensions</a> weighed on broader macro sentiment, triggering risk-off behavior across digital assets. 



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;</td><td>Gains +/-</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>$105,055.29</td><td>-2.1%</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>$2,527.32</td><td>-7.3%</td></tr><tr><td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td><td>$145.11</td><td>-7.7%</td></tr><tr><td>XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td><td>$2.12</td><td>-4.8%</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>$0.1764</td><td>-5.4%</td></tr><tr><td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>$0.00001185</td><td>-5.1%</td></tr></tbody></table></figure>



Notable Statistics:



<ul class="wp-block-list">
<li>IntoTheBlock data shows Bitcoin's large transaction volume decreasing by 16% and daily active addresses grew by 3.8%. </li>



<li>Transactions greater than $100,000 are down from 11,766 to 10,776 in a single day. Exchanges netflows are down by 72.5%.</li>



<li>Coinglass data reports 236,616 traders liquidated in the past 24 hours with the total liquidations at $1.13 billion.</li>
</ul>



Notable Developments:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45925907/michael-saylor-declares-bitcoin-treasury-movement-unstoppable-as-global-economies-firms-jump-in">Michael Saylor Declares Bitcoin Treasury Movement &#8216;Unstoppable&#8217; As Global Economies, Firms Jump In</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45921146/shopify-teams-up-with-coinbase-stripe-to-roll-out-usdc-stablecoin-payments-for-merchants">Shopify Teams Up With Coinbase, Stripe To Roll Out USDC Stablecoin Payments For Merchants</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45925124/ripple-ceo-projects-xrp-could-handle-14-of-swifts-cross-border-payment-volume-within-five-years">Ripple CEO Projects XRP Could Handle 14% Of SWIFT&#8217;s Cross-Border Payment Volume Within Five Years</a></li>



<li><a href="https://www.benzinga.com/crypto/25/06/45923585/walmart-amazon-eye-stablecoin-adoption-in-a-potential-shift-from-traditional-currencies-report">Walmart, Amazon Eye Stablecoin Adoption In A Potential Shift From Traditional Currencies: Report</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45927014/cardano-eyes-100-million-ada-swap-into-stablecoins-bitcoin-to-fix-liquidity-expand-treasury">Cardano Eyes $100 Million ADA Swap Into Stablecoins, Bitcoin To Fix Liquidity, Expand Treasury</a></li>



<li><a href="https://www.benzinga.com/crypto/25/06/45923884/tokenization-could-unlock-trillions-bernstein-calls-it-next-gen-infrastructure">Tokenization Could Unlock Trillions: Bernstein Calls It Next-Gen Infrastructure</a></li>
</ul>



Top Losers:



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;</td><td>Gains +/-</td></tr><tr><td>Optimism (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">OP</a>)</td><td>$0.5627</td><td>-15.5%</td></tr><tr><td>Celestia (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TIA</a>)</td><td>$1.73</td><td>-13.8%</td></tr><tr><td>Lido DAO (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">LDO</a>)</td><td>$0.7919</td><td>-13.1%</td></tr></tbody></table></figure>



Trader Notes: ByBit partner Justin Bennett noted that after failing to hold the $106,600 level on Thursday, Bitcoin could either pull back or enter a consolidation phase on Friday. He expects a potential weekend rally into the $106,000–$107,000 range, a move he describes as "typical retail behavior." 



However, Bennett warns that BTC may revisit the $100,000 lows soon after. If Bitcoin manages a high-timeframe breakout above $107,000, this bearish scenario would be invalidated.



<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">GM fam! &#x2615;&#xFE0F; Possible scenario for <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> following Thursday&#39;s $106,600 failure. Pull back/consolidate on Friday, weekend rally (because that&#39;s what retail does) into $106k-$107k, and then revisit the $100k lows. Invalidation on a sustained break (high time frames) above $107k.… <a href="https://t.co/uB3fjhWHY5">pic.twitter.com/uB3fjhWHY5</a>&mdash; Justin Bennett (@JustinBennettFX) <a href="https://twitter.com/JustinBennettFX/status/1933523821312495784?ref_src=twsrc%5Etfw">June 13, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Michael van de Poppe <a href="https://x.com/CryptoMichNL/status/1933583899046625713">offered</a> a more optimistic take, pointing to Bitcoin's strong daily close despite heightened volatility. He sees it as a bullish continuation signal, implying that upward momentum likely isn&#8217;t exhausted yet.



Ted Pillows <a href="https://x.com/TedPillows/status/1933562044906643910">added</a> macro context, observing that while many are panicking over a 3%–5% dip, global M2 money supply is surging to all-time highs across major economies. With liquidity expanding rapidly, Bitcoin may be poised to catch up and rally in response.



Henry aka LordOfAlts emphasized Bitcoin&#8217;s resilience, stating the market has likely entered an accumulation phase. He believes recent price action reflects healthy corrections rather than a trend reversal. "Any breakdowns could be fakeouts," he said, encouraging traders to stay patient. His next short-term target for Bitcoin is $135,000.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> is still looking good if you look at bigger picture. We just entered in the accumulation phase so we can expect sideways markets for sometime. These are just small corrections before a bigger pump. HODL your bags and Don&#39;t panic. If we broke these these it can be fake… <a href="https://t.co/DpKhDoZjLq">pic.twitter.com/DpKhDoZjLq</a>&mdash; Henry (@LordOfAlts) <a href="https://twitter.com/LordOfAlts/status/1933406134846582826?ref_src=twsrc%5Etfw">June 13, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45924758/will-bitcoin-crash-to-goblin-town-or-is-this-just-a-geopolitical-overreaction">Will Bitcoin Crash To &#8216;Goblin Town&#8217; Or Is This Just A Geopolitical Overreaction?</a></li>
</ul>



Image: Shutterstock

Cryptocurrency

$BTC

$DOGE

$ETH

$LDO

$SHIB

$SOL

$SPX

$TIA

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President Donald Trump has never been one to hold back, but his latest jab at Federal Reserve Chair Jerome Powell might be aging worse than milk left out in the sun. Less than a day after <a href="https://www.benzinga.com/news/politics/25/06/45913481/trump-rips-jerome-powell-over-rates-but-supreme-court-shields-fed-from-firing">calling Powell a "numbskull"</a> for refusing to slash interest rates, the financial landscape has shifted dramatically—putting Trump's demand in an awkward position.



At a White House event on Thursday, Trump unleashed a tirade against Powell, frustrated that the Fed hadn't cut rates despite inflation remaining near a four-year low. For months, Trump has been pushing aggressively for lower rates, arguing that cutting them by two percentage points could save the government $600 billion a year in financing costs.



Vice President JD Vance also turned up the heat on Powell, calling the central bank's refusal to cut rates "monetary malpractice" in a June 12 post on X.



Read More: <a href="https://www.benzinga.com/news/politics/25/06/45898797/trump-and-jd-vance-push-fed-to-slash-interest-rates-after-mild-inflation-report-calling-current-policy-monetary-malpractice">Trump And JD Vance Push Fed To Slash Interest Rates After Mild Inflation Report, Calling Current Policy &#8216;Monetary Malpractice&#8217;</a>



But Powell, ever cautious, has refused to budge as the rate of consumer-price increases is still above the central bank&#8217;s 2% target. Trump has dismissed those concerns outright, insisting that inflation was under control and that the Fed could simply hike rates again later if needed.



Renewed Inflation Risk Suggests Powell&#8217;s Caution Is Justified



Well, the fear of higher inflation may have resurfaced faster than Trump anticipated. Within hours of his remarks, global crude prices surged as much as 14%, following Israel's large-scale airstrikes on Iran's nuclear infrastructure, reigniting fears of an inflationary shock. The sudden spike in crude prices threatens to ripple through the economy, pushing up costs for businesses and consumers alike—precisely the kind of scenario Powell had warned about when resisting Trump's aggressive push for rate cuts.



Peter Schiff, a well-known economist and financial commentator, weighed in on the situation in an X post on Thursday, highlighting the inflationary risks ahead.



"Since the May low, the oil price is up 30%," Schiff wrote. "Anyone hoping for lower inflation or Fed rate cuts based on falling oil prices needs to rethink their assumptions. Both oil prices and inflation will be higher under Trump than they were under Biden. Rate cuts will just fuel both fires."



<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">Since the May low, the oil price is up 30%. Anyone hoping for lower inflation or Fed rate cuts based on falling oil prices needs to rethink their assumptions. Both oil prices and inflation will be higher under Trump than they were under Biden. Rate cuts will just fuel both fires.&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1933337765787414948?ref_src=twsrc%5Etfw">June 13, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Will Trump Blink Or Double Down?



Schiff's warning underscores the dilemma now facing Trump. His argument for slashing rates hinged on the idea that inflation was under control—but with oil prices surging, the Fed's cautious approach looks increasingly justified. The geopolitical turmoil in the Middle East has thrown a wrench into Trump's economic playbook, making his "numbskull" insult to Powell seem premature at best.



In March 2022, Powell testified before the U.S. Senate Banking Committee that every $10 per barrel increase in crude oil prices raises U.S. headline inflation (CPI) by approximately 0.2 percentage points and sets back economic growth by 0.1 percentage points—a warning that feels increasingly relevant amid the latest oil price surge.



In a September 2021 study, the Federal Reserve Bank of Dallas examined the inflationary effects of rising oil prices. The research found that if crude prices climbed to $100 per barrel for three months, the annual inflation rate could increase by up to 3 percentage points in the short term.



As markets brace for further volatility, the question now is whether Trump will adjust his stance—or double down on his demand for rate cuts, even as inflation risks mount.



Read Next:



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



Image created using photos from Shutterstock and Fed.

Trump's 'Numbskull' Insult Comes Back To Bite—In Record Time

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