Happy Friday! The S&P 500 hit a record high yesterday in a move that few saw coming just a few months ago. And it might be just the beginning, as a powerful market signal with a history of major rallies has reappeared. Check out all the insights and breakdown, because this seasonal pattern is one you won’t want to miss.

Also, Tesla has pulled up to the starting line in the robotaxi race with its launch this week. However, with rivals gaining ground and analysts sounding cautious, read on to see if Tesla is setting the pace or falling behind.

Plus, check out Benzinga’s Fintech Deal Day & Awards, an event in New York City in November designed to showcase the latest advancements in fintech, celebrate industry achievements and foster connections that drive the future of finance — tickets available now.

In Today's Edition

• MARKET RECAP

• FIVE ZINGERS

• MARKET HISTORY

• ONE FOR THE ROAD

S&P 500 Trades At Record Highs — And History Says The Best Is Yet To Come

The S&P 500 hit a record high on Thursday, capping off a powerful rebound that few saw coming. But this isn’t just another headline moment. It’s the culmination of a stunning turnaround that has flipped fear into optimism, and may be setting the stage for something even bigger.

Two months ago, the market was in a full-blown panic, with recession fears and trade tensions sending the market into bear territory — down more than 20%. Fast-forward to today, and not only has the index recovered, but it’s soaring to new heights.

And if history is any guide, the rally might be far from over.

A key indicator is flashing a signal that historically points to extended rallies: the golden cross. This powerful indicator has a strong track record of predicting sustained bull markets, often lasting well over a year and delivering double-digit gains. Read on for the full breakdown because this seasonal pattern is one you won’t want to miss.

Join us on November 10, 2025, in New York City for a transformative experience that blends cutting-edge financial technology insights with unparalleled networking opportunities.

This event is designed to showcase the latest advancements in fintech, celebrate industry achievements and foster connections that drive the future of finance. Join us for a powerhouse event designed to connect visionary leaders, ignite groundbreaking deals, and celebrate the brightest stars in the financial technology industry.

Yesterday: U.S. indexes rallied Thursday, with the S&P 500 setting a new all-time high, extending a remarkable rebound from April’s lows. The market’s recovery has come despite a range of concerns, including trade tensions, geopolitical instability and inflation. Contributing to the turnaround are resilient corporate earnings, a steady labor market and renewed enthusiasm for AI. The S&P 500 has now surged more than 27% from its intraday low earlier this year, after dipping into bear market territory during peak tariff concerns in April. On the economic front, first-quarter GDP growth was revised down to 0.5% due to weaker consumer spending and exports. Initial jobless claims fell to 236,000, below expectations, and treasury yields edged lower too, with the 10-year finishing at 4.24%.

On Our Radar: Analysts will be paying attention to today’s consumer sentiment report for insights into how Americans are feeling about inflation, job security and the economy. On the earnings front, all eyes will be on Progress Software (PRGS), which will report results after market close on Monday.

Revved Up: Shares of Cyngn hit the gas, soaring 170% after hitching a ride with Nvidia to showcase its self-driving industrial vehicles. Once left for dead on Wall Street, could this AI-fueled comeback shift gears and put the stock back in the driver's seat? Read on to find out.

Crypto King: Analysts are calling Coinbase the “Amazon of crypto” with one analyst hiking its price target to $510, citing explosive growth in derivatives and non-trading revenue like staking and stablecoins. With earnings and revenue projections soaring, find out why Wall Street is suddenly all-in on COIN.

Swipe Right: Investors are swiping right as shares of Bumble are up more than 30%, despite a sharp drop in app downloads as well as the company slashing 30% of its workforce. Read on for the full breakdown and why Wall Street is buzzing about its latest moves.

MU-scle Memory: Micron crushed analyst expectations thanks to a surge in data center demand. With a bold $200 billion U.S. chip investment announcement combined with strong guidance, discover why shares still have room to run despite surging 90% over the past two months.

Fed Up: It’s no secret that President Trump is ‘fed up’ with the Federal Reserve due to a lack of interest rate cuts. Here’s a look at the shortlist of dovish contenders — find out why investors are bracing for a dovish takeover and when that could be.

Tech swings. Oil shocks. Rate surprises. Markets are moving fast — and Chris Capre has a plan. In this live July 2 session, he’ll walk you through how he’s trading short-term moves in real time using his proven framework. Join free and get the strategy.

On This Day In 2008…

Bill Gates transitioned out of his day-to-day role at the company to dedicate himself full-time to the Bill & Melinda Gates Foundation. After co-founding Microsoft in 1975 and transforming it into a global technology powerhouse, Gates gradually shifted his focus from software innovation to global philanthropy, aiming to address critical challenges in health, education and poverty worldwide. His departure marked a defining transition from tech leadership to humanitarian impact. At the height of the dot-com bubble and right before he stepped down as CEO in January 2000, Microsoft’s market capitalization peaked at around $600 billion. It would take nearly 17 years for the company to regain that valuation. Today, Microsoft stands as one of the most powerful and valuable companies in the world, with a market cap of $3.7 trillion.

QUOTE OF THE DAY

“The most important thing for being a successful investor is temperament... You need a temperament that neither derives great pleasure from being with the crowd or against the crowd.”

— Bill Ackman

Tesla Robotaxi Scaling Growth Will Be Slow In Near Term: Goldman Sachs

Tesla has officially entered the robotaxi race, but don’t expect a full-throttle launch just yet.

According to analysts, early signs suggest this rollout may be more cautious than groundbreaking. With a small fleet of Model Ys beginning service in Austin, this limited rollout has caught the attention of analysts and investors alike.

While the move marks a significant milestone in the company’s autonomous ambitions, analysts are raising questions about the pace and scale of what comes next. Currently, Tesla has a small fleet of Model Ys beginning service in Austin.

However, with a competing service already operating more broadly in the same city, the pressure is on. Can Tesla catch up, and more importantly, can it lead?

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