Happy Friday! While the market continues to soar and hit new all-time highs, this Wall Street legend is warning that markets could be headed towards a 30%–35% crash. Read on to see why the “King of Wall Street” says current conditions resemble one of the most dangerous turning points in decades.

And growth is fading and inflation is re-accelerating, leaving the market caught between two opposing forces. Discover what this means for interest rates and how traders are positioning for the next market move.

Plus, if you’re looking for a smarter, more structured way to trade with access to professional capital, check out today’s sponsor.

In Today's Edition

• MARKET RECAP

• MARKET HEATMAP

• FIVE ZINGERS

BENZINGA TRIVIA CHALLENGE

Four prizes are up for grabs this week as readers play for Benzinga PRO or Edge subscriptions. Take the quiz and start climbing the leaderboard before it closes.

Missed yesterday’s quiz? Catch up here. Remember, scores are cumulative — the more you play, the higher your score, and the greater your chances of winning. To play previous quizzes this week, please see previous newsletters.

Important: Exciting changes are coming next week that will help increase your odds. Stay tuned for next week’s newsletter for all the information.

Paul Tudor Jones, King Of Wall Street Warns Of Nearly 35% Market Crash

Just as investors get comfortable with the Nasdaq and S&P 500 hitting new all-time highs, veteran hedge fund manager Paul Tudor Jones is sounding the alarm on a potential economic crisis that would result in a 30%-35% market crash.

Known as the King of Wall Street, for his accurate predictions — including Black Monday — see why Jones believes the overinflated market may be setting up one of the most dangerous turning points in decades.

Why Risk Your Own Capital When You Don’t Have To?

PropShopTrader is helping change how traders approach the market by providing access to professional capital across both stocks and futures within a structured system. Instead of relying on luck or high-risk trades, traders operate inside a model built around consistency, defined risk and progression.

With both intraday and swing trading available, traders can now scale across multiple accounts and strategies while staying within a clear framework.

If you’re serious about trading and want a system designed for long-term development, this is a good place to start.

Scan the QR code now to unlock 60% off your first account plus Buy One, Get One free — yes, your second account is free!

Yesterday: U.S. indexes finished higher Thursday, with the S&P 500 and Nasdaq both hitting fresh record highs to cap off a surprisingly strong April, despite geopolitical issues and mixed economic data. The S&P 500 closed above the 7,200 level for the first time ever, posting a 10.4% monthly gain, while the Nasdaq surged 15.3% for its best performance since 2020. The Dow also advanced 7.1%, marking its strongest monthly performance since November 2024. Thursday brought a slew of key economic data with Q1 GDP slowing to 2.0% — below expectations of 2.3% — however, gains in government spending and business investment were right spots. Inflation data was largely in line with forecasts, with headline PCE — the Fed’s preferred inflation gauge — rising 0.7%, keeping the Federal Reserve’s policy outlook relatively unchanged.

On Our Radar: Analysts will be paying attention to the S&P U.S. manufacturing PMI, as well as the ISM manufacturing report for direction on factory activity. On the earnings front, all eyes will be on Palantir (PLTR) and On Semiconductor (ON) which will report earnings after the market close on Monday.

Thursday brought huge price swings as Alphabet (GOOG), Qualcomm (QCOM), Caterpillar (CAT), and Teradyne (TER) all soared double digits. Meanwhile — and despite the market reaching new all-time highs — Meta (META), Microsoft (MSFT), Nvidia (NVDA) and Mastercard (MA) were among the top laggards on the day. But those weren’t the only companies making big moves. Here’s a look at some of the biggest winners and losers on Thursday.

Discover how the market is moving with our interactive heatmap. Filter by market cap, or click on any box to explore specific sectors or assets in more detail.

Breaking Records: Shares of Apple were climbing higher after the company smashed analyst estimates on record-breaking revenue. Read on to see what this setup could mean for the next phase of the stock’s move.

Memory Crash: SanDisk just delivered a jaw-dropping earnings report and raised guidance massively, yet shares still tumbled leaving Wall Street scratching its head. Here’s why.

Stock Of The Day: After a clean breakout, shares of Nvidia are now facing their first real stress test. See what traders are watching and where shares are likely headed next.

Historic Drop: Meta posted a blockbuster quarter, yet the stock still got crushed, putting it in historic territory. Read on to see if the market overreacted or if investors should be thinking twice before buying the dip.

Stream Surge: Shares of Roku are surging after reporting earnings that surpasses Wall Street estimates. But the real question now is whether this breakout has more room to ru, or if the market is getting ahead of itself. Click here to find out.

Live Strategy Session: Short-Term Trades To Make After the Fed’s Latest Call

With the Fed decision behind us and oil still elevated, the market is entering a new phase of movement. These are the conditions where experienced traders prepare ahead of time. Sunday at 1:00 PM ET, Matt Maley shows how he’s positioning now, what setups he’s focused on, and how he approaches the week before the open.

BEFORE YOU GO

Were you forwarded this email? Click here to subscribe.

And be sure to check out our other newsletters:

Future Finance: Where fintech, crypto and the future of finance collide. Future Finance is a perfect lunch read packed with quick bites for industry enthusiasts. Subscribe here.

Advisor: Tailor-made for Financial Advisors, this weekly newsletter has industry-specific insights, analysis, and news. Subscribe here.

Tech Trends: Get the inside scoop on AI, the hottest gadgets and mind-blowing tech trends. Subscribe here.