Happy Wednesday! Just when investors thought a rate cut was back on the table, June’s inflation data threw a subtle curveball, casting new light on the Fed’s cautious stance. Read on to see how the markets could be misreading the signals.

Also, Tesla is no stranger to change; however, the company is shedding top talent just as it ramps up its boldest bets yet, and the timing has Wall Street on edge.

Plus, if you’re looking to stay ahead in the evolving world of cryptocurrency, check out today’s sponsor.

In Today's Edition

• MARKET RECAP

• MARKET HEATMAP

• FIVE ZINGERS

• MARKET HISTORY

• ONE FOR THE ROAD

June Inflation Data Validates Powell's Trump Pushback

Just when markets thought the Fed might blink, June’s inflation data delivered a subtle, yet decisive nod to Chair Jerome Powell’s cautious approach. 

Despite political pressure from President Trump and even some on Wall Street to slash interest rates, rising consumer prices painted a different picture, one that may justify the Fed’s ongoing pause. Headline inflation crept higher for the second straight month, sending a message that the road back to 2% inflation is likely longer than many hoped.

But the real story isn’t just in the top-line numbers, it’s in the details. While some components cooled, others heated up. And with evidence mounting that tariffs are starting to reach consumers, the inflation battle may be entering a more complicated phase.

Powell’s stance may look validated today, but with markets still pricing in multiple rate cuts later this year and next, the question becomes: will the Fed stay data dependent, or will the pressure and calls for a cut prevail. Read on for more insights and analysis to protect your portfolio and stay ahead of the curve.

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Yesterday: U.S. indexes ended mixed on Wednesday with the Nasdaq climbing to new all-time highs, while the Dow dropped more than 400 points. The S&P 500 also hit new all-time highs before closing lower on the day and finishing in the red (-0.40%). June inflation data came in largely as expected, with headline CPI increasing to 2.7% year-over-year and core CPI meeting expectations at 2.9%, reinforcing the view that inflation remains contained despite higher tariffs. Treasury yields moved higher, with the 10-year yield climbing to 4.48%. Earnings season kicked off on a strong note, with major banks like JPMorgan and Citibank topping estimates on trading and investment banking revenue.

On Our Radar: Analysts will be watching the Producer Price Index (PPI) as well as industrial production this morning, with the Beige Book report due later this afternoon. On the earnings front, United Airlines (UAL), Kinder Morgan (KMI), and Alcoa (AA) will headline a slate of major earnings reports that will be released after hours today.

Nvidia soared to a new all-time high on Tuesday after the chipmaker received news that it could resume certain chip sales to China. Also, MP Materials Corp. surged more than 25% after Apple announced a $500 million deal with the company. But those weren’t the only big movers of the day…

Discover how the market is moving with our interactive heatmap — filter by market cap and zoom in for deeper insights. Click any box to explore specific sectors or assets in detail.

With fresh inflation data and earnings season in full swing, traders need clarity — not noise. Benzinga’s Top Stock Leaderboards are updated daily to spotlight breakout opportunities our system ranks highest on value, momentum and quality.

See which stocks are rising to the top before Wall Street catches up.

On This Day In 2004…

Martha Stewart was sentenced to five months in prison, five months of home confinement and two years of probation for obstructing justice and lying to federal investigators about a 2001 stock sale. The case was linked to the ImClone insider trading scandal, although she was not convicted of insider trading herself. Her conviction marked a significant setback, but Stewart eventually rebuilt her brand and returned to prominence in the business and media worlds.

QUOTE OF THE DAY

“The biggest mistake investors make is to believe that what happened in the recent past is likely to persist.“

— Ray Dalio

Tesla Leaders Take The Exit Lane: Where Have All The Execs Gone?

Tesla has never been a stranger to executive shakeups, but the latest string of high-profile departures is sparking more than just internal chatter; it's raising eyebrows across Wall Street and Silicon Valley.

As Elon Musk doubles down on bold bets in robotics and autonomous driving, the company's leadership bench is thinning at a time when strategic focus has never been more critical.

With EV sales slowing and rivals closing the gap, the loss of long-standing veterans — some with over a decade of institutional knowledge — may be more than just the usual churn. Is this a natural evolution for a disruptive company, or a red flag that Tesla’s internal gears are grinding?

Don’t miss the inside story and what it could mean for the stock, the company’s future and your portfolio.

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