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As American families gather to celebrate Independence Day, many investors and traders are curious about the market schedule <a href="https://www.benzinga.com/money/is-the-stock-market-open-on-july-4th">for the July Fourth holiday</a>.
Here's a concise guide to help you navigate the trading week around this holiday.
<h3 class="wp-block-heading">Market Schedule Overview Around Independence Day</h3>
The U.S. stock markets, including the New York Stock Exchange (NYSE) and the NASDAQ, will be closed on Thursday, July 4, 2024, in observance of Independence Day. 
Additionally, it's important to note that both the NYSE and NASDAQ also observed an early closure on Wednesday, July 3, 2024. Trading ended at 1:00 PM Eastern Time (ET).
The bond markets, including the Securities Industry and Financial Markets Association (SIFMA), will follow a similar schedule. The bond markets closed early at 2:00 PM ET on July 3 and will remain closed on July 4.
While the U.S. markets will be closed, international markets will follow their respective schedules. European and Asian markets, for example, will operate on their normal trading hours. Foreign exchange markets will remain open.
Thin trading volumes and liquidity in international markets are common on days when Wall Street is closed.
<h3 class="wp-block-heading">FTSE 100 And UK Elections</h3>
On July 4, 2024, the United Kingdom will be holding parliamentary elections. 
Despite the relevant political event, the London Stock Exchange (LSE) and the FTSE 100 Index will remain open for trading. The FTSE 100 operates on its normal schedule and will not be closed due to the elections. This provides investors with the opportunity to trade as usual.
However, U.S.-based exchange-traded funds tracking UK stocks, as the iShares MSCI United Kingdom ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWU#NYSE">EWU</a>), will not be trading.
<h3 class="wp-block-heading">Normal Trading Hours Resume Friday: All Eyes On US Labor Market</h3>
Trading will resume as usual on Friday, July 5, 2024. Both the NYSE and NASDAQ will operate on their normal schedules. They will open at 9:30 AM ET and close at 4:00 PM ET.
Traders will be particularly attentive on Friday, July 5, as the Bureau of Labor Statistics (BLS) is set to release its jobs report for June at 8:30 AM ET.
In this <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39620397/june-jobs-report-preview-cooling-labor-market-trends-may-further-bolster-rate-cut-h">preview</a>, we highlighted that analysts predict that both employment and salary growth in June will show a deceleration compared to previous months. 
Nonfarm payrolls are predicted to decline from 272,000 in May to 189,000 in June. Average hourly earnings are anticipated to rise by 0.3%, down from May's 0.4%. 
However, conflicting data from different surveys suggests potential surprises. 
The last jobs report for May, published on June 7, triggered a sharp rise in Treasury yields, sending the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) down by 1.8% on that day. U.S. stocks ended the session broadly flat, with the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) unchanged and the tech-heavy Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) down 0.1%. 
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</ul>

Is The Market Open On July Fourth? Everything You Need To Know

The Fourth of July is fast approaching, and Americans are gearing up for the traditional backyard barbecues. This year, the celebrations can be enhanced with a variety of patriotic gadgets and gear, adding a zing of modernity to this day commemorating the history and heritage of the country.
To help you make the most of this celebration of the birth of the U.S., we have curated a list of the best gadgets to spruce up your Fourth of July barbecue.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
<h3 class="wp-block-heading">Best Gadgets For Fourth Of July Barbecue</h3>
Brisk It Origin 940 Smart Grill
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="720" height="601" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/03082424/Brisk-It.jpg" alt="" class="wp-image-418406" style="width:538px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/03082424/Brisk-It.jpg 720w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/03082424/Brisk-It-300x250.jpg 300w" sizes="(max-width: 720px) 100vw, 720px" /><figcaption class="wp-element-caption">Photo courtesy: Brisk It</figcaption></figure>
The Brisk It Origin 940 operates like a typical wood pellet grill, enabling you to roast, smoke, bake, and barbecue without the hassle of charcoal or the taste of lighter fluid. However, what distinguishes the Origin 940 from smart grills like the Traeger Ironwood 1300 is its incorporation of generative AI technology, known as Vera.
This AI provides a plethora of recipes that you can send directly to the grill. During testing, its AI offered foolproof recipes for pulled pork and whole bass, and the grill produced mouthwatering results.
Kamado Joe Konnected Joe Digital Charcoal Grill And Smoker
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="720" height="720" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/03082448/Kamado-Joe.jpg" alt="" class="wp-image-418407" style="width:449px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/03082448/Kamado-Joe.jpg 720w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/03082448/Kamado-Joe-300x300.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/03082448/Kamado-Joe-150x150.jpg 150w" sizes="(max-width: 720px) 100vw, 720px" /><figcaption class="wp-element-caption">Photo courtesy: Kamado Joe</figcaption></figure>
The Kamado Joe Konnected Joe Digital Charcoal Grill and Smoker ensures perfectly cooked charcoal-fired food every time. This robust Kamado grill is easy to use and clean, provides precise temperature control, and is compatible with numerous high-quality accessories. The intuitive app offers hundreds of recipes to follow. Though the grill is quite pricey, even for devoted backyard chefs, the experience of flawless charcoal grilling is arguably priceless.
Weber Genesis EPX-335 Smart Gas Grill
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="720" height="600" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/03082508/Weber.jpg" alt="" class="wp-image-418409" style="width:506px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/03082508/Weber.jpg 720w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/03082508/Weber-300x250.jpg 300w" sizes="(max-width: 720px) 100vw, 720px" /><figcaption class="wp-element-caption">Photo courtesy: Weber</figcaption></figure>
The Weber Genesis EPX-335 Smart Gas Grill is durable and packed with smart tech features like Wi-Fi and Bluetooth connectivity, an illuminated cooking chamber, and a user-friendly app with hundreds of recipes. While it&#8217;s pricey and requires some setup, it offers ample storage for utensils, cooking racks, and cleaning accessories.
Grillbot Automatic Grill Cleaning Robot
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="515" height="720" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/03082524/Grillbot.jpg" alt="" class="wp-image-418411" style="width:283px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/03082524/Grillbot.jpg 515w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/03082524/Grillbot-215x300.jpg 215w" sizes="(max-width: 515px) 100vw, 515px" /><figcaption class="wp-element-caption">Photo courtesy: Grillbot</figcaption></figure>
Cleaning up after cooking can be a hassle, but the Grillbot makes it easy. This robot, like a Roomba for your barbecue, automatically cleans your grill with three electric motors powering wire brushes. A chip controls the movement, speed, and direction of the brushes. Just place it on the dirty grill, turn it on, and it will notify you with an alarm when done.
Anova Precision Cooker
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="403" height="720" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/03082544/Anova.jpg" alt="" class="wp-image-418413" style="width:221px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/03082544/Anova.jpg 403w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/03082544/Anova-168x300.jpg 168w" sizes="(max-width: 403px) 100vw, 403px" /><figcaption class="wp-element-caption">Photo courtesy: Anova</figcaption></figure>
For a gourmet touch, sous vide your meat and vegetables before grilling with the Anova Precision Cooker, our top immersion circulator. It heats water to a precise temperature, allowing you to cook a steak to perfect rare before searing on the grill. This ensures accuracy and reduces time spent at the barbecue, letting you socialize more.
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Pexels

News

Tech

Best Gadgets To Spruce Up Your Fourth Of July Barbecue

Swedish EV brand Polestar Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSNY#NASDAQ">PSNY</a>) is recalling nearly 32,000 <a href="https://www.benzinga.com/news/23/07/33110992/polestar-credits-toyota-tesla-for-rebirth-of-evs-in-21st-century-next-phase-of-the-heros-journey">Polestar 2 vehicles</a> in North America, including nearly 26,000 in the U.S. alone, citing issues that may prevent the rearview camera image from displaying. 
What Happened: Certain 2021- 2024 model year Polestar 2 vehicles may have an issue where the infotainment head unit (IHU) software prevents the rearview camera image from displaying and increases the risks of a crash, the company said in a filing with U.S. auto safety regulator National Highway Traffic Safety Administration (NHTSA.)
The company aims to fix the issue with an over-the-air IHU software update. Polestar has also advised its sales and service points to halt delivery and check for affected vehicles in auction and inventory. 
Polestar 2 is the car brand&#8217;s best-selling model and is manufactured in China. 
Why It Matters: <a href="https://www.benzinga.com/insights/analyst-ratings/24/07/39623924/expert-ratings-for-polestar-automotive">Polestar</a>, controlled by China&#8217;s Geely, delivered about 13,000 cars globally in the second quarter, marking a jump of 80% as compared to the previous quarter. The company is now looking at an uptick in sales through the second half of the year with production of Polestar 3 in South Carolina slated to start at the end of summer. 
For the quarter ended March 2024, the company reported an operating loss of $231.7 million, as compared to the loss of $219.9 million reported for the corresponding quarter of last year. 
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
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Photo courtesy: Shutterstock

PSNY

Swedish Carmaker Polestar Recalls Nearly 32,000 Units Of Its Best-Selling EV In US, Canada

It's too early to determine whether the Federal Reserve's decision to raise interest rates has benefited America's economy. However, the impact of <a href="https://www.benzinga.com/real-estate/24/06/39550558/housing-costs-and-interest-rates-are-weighing-heavily-on-consumer-minds-study-finds">higher interest rates</a> on mortgage payments is evident. According to Zillow, the average mortgage payment in America has surged by 96% in the last four years. This substantial rise undoubtedly causes significant financial strain for many homeowners.
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Zillow also highlights another concerning trend: homebuyers in major metropolitan areas of the United States now require an average down payment of $127,000 to purchase a home and comfortably manage the mortgage. It's important to note that this figure isn't for luxurious properties in places like Pacific Palisades or The Hamptons but for regular homes.&nbsp;
That's a lot of liquid money for even a relatively wealthy person to come up with, much less someone earning the median household income in America of $74,000 per year (<a href="https://data.census.gov/profile">according to the U.S. Census</a>). This explains why Zillow's study also showed that 43% of homebuyers in 2023 reported having to rely on a financial gift from family and/or friends to help raise funds for the down payment.
These high down payments are a direct result of today's interest rates. Lenders consider borrowers "comfortably" able to afford a mortgage when the monthly payment is equivalent to (or less than) one-third of the borrower's average monthly salary. Zillow data shows the average monthly payment is $2,200, which a buyer making $77,000 per year could theoretically afford.
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However, once today&#8217;s interest rates are factored into the equation, the six-figure down payment may be the only way for borrowers to get an affordable payment. Now that the average down payment of $127,000 is roughly one-third of America's median home price and nearly double America's median household income, the housing market has shown signs of slowing down. Despite that, it's worth noting that interest rates aren't the only factor driving up mortgage payments.
It's important to remember that a "<a href="https://www.benzinga.com/government/24/06/39514799/new-home-sales-dip-in-may-as-high-mortgage-rates-keep-buyers-on-the-sidelines">mortgage payment</a>" includes several components: loan principal, loan interest, property taxes, and insurance. This total amount is what borrowers must pay monthly to meet their mortgage obligations. Home insurance costs are rising in many states, especially regions at high risk of natural disasters like the Gulf Coast and Pacific coast, contributing to increased mortgage payments.&nbsp;
Homeowners in two of America's most populated states, Florida and California, are struggling with rate spikes due to insurers leaving the state or protecting themselves against future claims. While this makes sense on paper, adding $400 per month to a mortgage payment for insurance premium hikes exacerbates the financial strain caused by interest rates on loans originated in the last four years.
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Real Estate

The Average American Mortgage Payment Has Spiked 96% In The Past Four Years

After a successful Starlink mission launch on Wednesday, Elon Musk&#8216;s SpaceX currently has over 100 Starlink satellites in low-Earth orbit with <a href="https://www.benzinga.com/partner/commodities/24/06/39522399/1-8-trillion-investment-in-clean-energy-in-2023-highlights-importance-of-critical-materials">Direct to Cell capabilities</a>.
What Happened: On Wednesday, SpaceX launched 20 Starlink satellites, 13 of which have Direct to Cell capabilities, raising the total number of such satellites in orbit to over 100.
Each of these satellites features a modem functioning as a cell tower in space, aiming to provide users with global access to texting, calling, and internet browsing using standard LTE phones, without requiring additional hardware, software, or apps. 
&#8220;With over 100 Direct to Cell satellites now launched, and 100s more planned to be launched this year, excited to provide ubiquitous connectivity to our customers starting with T-Mobile in the US this year!&#8221; Sara Spangelo, Senior Director of Satellite Engineering at SpaceX, said.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">With over 100 Direct to Cell satellites now launched, and 100s more planned to be launched this year, excited to provide ubiquitous connectivity to our customers starting with <a href="https://twitter.com/TMobile?ref_src=twsrc%5Etfw">@TMobile</a> in the US this year! <a href="https://t.co/Twa3QJfpMb">https://t.co/Twa3QJfpMb</a>
&mdash; Sara Spangelo (@sara_spangelo) <a href="https://twitter.com/sara_spangelo/status/1808489414798221500?ref_src=twsrc%5Etfw">July 3, 2024</a></blockquote>
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Why It Matters: T-Mobile and SpaceX <a href="https://www.benzinga.com/news/22/08/28643154/musks-spacex-collaborates-with-t-mobile-to-put-an-end-to-cell-phone-dead-zones">announced a partnership in August 2022</a> aiming to connect the smartphones on T-Mobile&#8217;s network to Starlink satellites. The partnership is aimed at providing connectivity to remote locations that are untouched by cell signals from any provider.
Other cellular providers to have signed similar partnerships with SpaceX include Optus from Australia, Rogers from Canada, and KDDI in Japan. 
SpaceX plans to roll out texting services with the help of the satellites by the end of 2024, followed by voice calls, data, and internet-of-things (IoT) services in 2025. 
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
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Photo courtesy: Wikimedia

SPACE

SpaceX Now Has Over 100 Starlink Satellites In Orbit With Direct To Cell Capabilities: T-Mobile Users To Gain Access Later This Year

A driverless Waymo car&#8217;s reaction to being pulled over by the police in Phoenix has Tesla Inc. CEO Elon Musk in splits.
What Happened: Musk on Thursday responded to a video shared on X of a driverless car being pulled over by the police in Phoenix. The car is seen in the video as rolling down the driver&#8217;s side window as the police approached when it didn&#8217;t even have a driver.
&#8220;Straight out of the "Silicon Valley" show. The comedy writes itself,&#8221; Musk wrote in response to the video. The CEO is referring to the television comedy series called Silicon Valley which parodies the culture of tech startups in the region. The show features Thomas Middleditch in the role of Richard, an introverted computer programmer.
The video snippet shared on X was first shared by azcentral, the digital version of The Arizona Republic newspaper. The full-length video shows the Phoenix police stopping a Waymo car after it drove into opposing lanes of traffic and conversing with a remote Waymo representative about the incident. 
Waymo did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga&#8217;s</a> request for comment on details regarding the incident.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Straight out of the "Silicon Valley" show. The comedy writes itself &#x1f923;&#x1f923;
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1808715262348132596?ref_src=twsrc%5Etfw">July 4, 2024</a></blockquote>
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Why It Matters: Alphabet Inc.&#8217;s Waymo is one of the key players in the field of autonomous driving. Tesla is also developing self-driving robotaxis, with their model expected to be unveiled on Aug. 8.
However, safety concerns continue to plague autonomous vehicle operators including Waymo.
In June, Waymo recalled 672 of its&nbsp;<a href="https://www.benzinga.com/news/24/04/38351567/feel-sorry-for-the-bots-tesla-ceo-elon-musk-reacts-to-waymo-robotaxi-vandalism-in-san-francisco" target="_blank" rel="noreferrer noopener">self-driving vehicles</a>&nbsp;after identifying their inability to avoid a pole or pole-like objects. The company identified the issue after one of its self-driving cars collided with a wooden utility pole in an alleyway in Phoenix, Arizona in May, it said in a filing with the U.S. auto safety regulator&nbsp;National Highway Traffic Safety Administration&nbsp;(NHTSA).
Waymo&nbsp;<a href="https://www.benzinga.com/news/24/06/39312654/alphabet-subsidiary-waymo-recalls-nearly-700-avs-after-one-collides-with-pole-in-phoenix-updated" target="_blank" rel="noreferrer noopener">fixed the issue with a software update</a>&nbsp;to improve its reaction to pole-like objects and &#8220;robust&#8221; mapping updates and improvements.
In May, NHTSA commenced a probe into Waymo vehicles following reports of unexpected driving behaviors. These reports included collisions with stationary and semi-stationary objects such as gates and chains, as well as collisions with other parked vehicles. Some instances also pertain to the driving system disobeying traffic rules.
The regulator expressed concern that these driving behaviors may increase the risks of crash and injury. "Although this office is unaware of injury allegations, several of the incidents involved collisions with clearly visible objects that a competent driver would be expected to avoid," the&nbsp;<a href="https://www.benzinga.com/government/24/05/39027038/auto-regulator-nhtsa-pulls-up-alphabets-waymo-after-spotting-9-more-unexpected-driving-behavior-repo" target="_blank" rel="noreferrer noopener">regulator wrote in a letter</a>&nbsp;to Waymo dated May 23.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
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Photo courtesy: Shutterstock

Tesla CEO Elon Musk Laughs At Waymo Getting Flagged Down By Police For Driving Into Opposing Lanes Of Traffic: 'Comedy Writes Itself'

A former Boeing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) inspector said that the company&#8217;s workers <a href="https://www.benzinga.com/government/24/07/39625439/boeing-faces-high-stakes-decision-accept-plea-deal-or-risk-trial-over-737-max-safety-violations">used parts deemed unsuitable for flying</a> in its 787 Dreamliner assembly lines. This comes amid a series of safety issues that have plagued the company.
What Happened: Merle Meyers, a former Boeing quality-control manager with 30 years of experience, <a href="https://edition.cnn.com/2024/07/03/business/former-boeing-inspector-scrap-parts-assembly-lines/index.html">disclosed</a> to CNN that workers at the 787 Dreamliner factory in Everett, Washington, regularly retrieved parts from an internal scrap yard and reintroduced them into the assembly lines. Meyers claims that these practices were used to meet production deadlines.
This follows a string of other whistleblowers who have raised concerns about Boeing&#8217;s manufacturing practices. Meyers alleges that these lapses were deliberate and organized efforts to bypass quality control processes and maintain demanding production schedules.
He further claims that this practice has been ongoing since the early 2000s, with an estimated 50,000 parts that were meant to be scrapped being used in aircraft construction. These parts ranged from small items like screws to more complex assemblies like wing flaps.
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Boeing, in a statement to CNN, did not refute Meyers&#8217; allegations but stated that it investigates all allegations of improper behavior and makes improvements when necessary. "We appreciate employees who raise their voice and we have systems in place to encourage them to speak up confidentially or anonymously," Boeing said.
"Hopefully we can get this company to heal and be what it was," Meyers said.
Boeing did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
Why It Matters: Boeing has been under intense scrutiny due to a series of safety issues. The company is <a href="https://www.benzinga.com/markets/equities/24/07/39570406/justice-department-moves-to-charge-boeing-over-fatal-crashes-report">currently facing a criminal investigation</a> over whether it misled the Federal Aviation Administration during the 2017 certification of the 737 Max, which was involved in two fatal crashes in 2018 and 2019, resulting in 346 deaths.
Boeing&#8217;s safety culture has also been called into <a href="https://www.benzinga.com/government/24/06/39383124/whats-going-on-with-boeings-shares-on-tuesday">question by other whistleblowers</a>. A current Boeing quality investigator, Sam Mohawk, recently filed an official complaint reporting &#8220;a number of non-compliant parts making their way back to the airplanes for installation.&#8221; His complaint with the Occupational Safety and Health Administration was publicly released by a Senate subcommittee investigating Boeing.
Despite these issues, Boeing has shown signs of improvement. A recent analysis by Goldman Sachs suggests that the company is on track to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39623013/boeing-set-for-improved-deliveries-and-production-rates-goldman-sachs-analyst-says">achieve improved deliveries</a> and production rates, with a buy rating and a $243 price target.
Price Action: Boeing Co&#8217;s stock closed at $184.31 on Wednesday, down 0.60% for the day. In after-hours trading, the stock dipped slightly to $184.29. Year to date, Boeing&#8217;s stock has declined significantly by $67.45, reflecting a decrease of 26.79%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
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Photo courtesy: Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Equities

Markets

Former Boeing Inspector Says Scrap Parts Were Used In Planes For Over A Decade: Report

Chinese President Xi Jinping and Russian President Vladimir Putin have <a href="https://www.benzinga.com/news/24/05/38865916/russian-president-xi-jinping-pledge-to-rejuvenate-china-russia-ties-amid-ukraine-crisis-not-directed">expressed their ambitions</a> for a new Eurasian security system at the annual meeting of the Shanghai Cooperation Organization, or SCO.
What Happened: At the SCO summit in Astana, Kazakhstan, on Thursday, Xi emphasized the need for the regional security club to resist external interference, reported Reuters. Meanwhile, Putin was expected to discuss creating a new Eurasian security system.
The SCO, established in 2001 by Russia, China, and Central Asian nations, has been expanded by the two leaders to include India, Iran, and Pakistan, as a counterbalance to the West.
&#8220;In the face of the real risks of small yards with high fences, we must safeguard the right to development,&#8221; Xi said at the meeting in Astana.
Read Also: <a href="https://www.benzinga.com/markets/asia/24/07/39595146/trumps-trade-tariffs-would-be-highest-in-the-postwar-period-and-increase-inflation-says-goldman-sach?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Trade Tariffs Would Be &#8216;Highest In The Postwar Period&#8217; And Increase Inflation, Says Goldman Sachs</a>
Putin, who has been advocating for a new regional security system, has suggested that it should be open to all countries on the continent, including NATO members, with the ultimate goal of gradually removing all external military presence from Eurasia, particularly the United States.
Why It Matters: The alliance between China and Russia has been strengthening over the years. In May, amid the Ukraine crisis, Xi and Putin <a href="https://www.benzinga.com/news/24/05/38865916/russian-president-xi-jinping-pledge-to-rejuvenate-china-russia-ties-amid-ukraine-crisis-not-directed">pledged to rejuvenate their ties</a>, with a focus on resolving the conflict. This move was seen as a significant step in their alliance.
Putin has also been bolstering Russia&#8217;s international alliances, as evidenced by his <a href="https://www.benzinga.com/markets/asia/24/06/39401882/putin-forges-defense-pact-with-kim-jong-un-elevating-russia-north-korea-alliance-what-it-means-for-u">defense pact with North Korea</a> in June. This marked a significant shift in Russia&#8217;s global alliances and highlighted deepening ties with the only country to test a nuclear weapon in this century.
Additionally, U.S. Secretary of State Antony Blinken has described the Xi-Putin alliance as a &#8220;<a href="https://www.benzinga.com/news/23/03/31469624/xi-putin-alliance-marriage-of-convenience-says-blinken">marriage of convenience</a>,&#8221; reflecting the divergent worldviews of the two leaders compared to the West, after Xi&#8217;s state visit to Russia in March.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Global

Xi, Putin Pitch Eurasian Security Club In The Face Of 'Real Risks' As Counterweight To West: 'Must Safeguard The Right To Development'

Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) has reportedly carried out <a href="https://www.benzinga.com/news/24/06/39151312/microsoft-google-announce-hundreds-of-job-cuts-in-tech-departments-despite-robust-financials">another round of layoffs</a>, affecting various teams and regions. The company has not disclosed the exact number of employees impacted.
What Happened: The layoffs have affected employees in roles related to product and program management, as per LinkedIn posts from the affected staff. The company, however, has not revealed the number of employees affected, <a href="https://www.geekwire.com/2024/microsoft-lays-off-employees-in-new-round-of-cuts/">reported</a> GeekWire.
A Microsoft spokesperson stated, &#8220;Organizational and workforce adjustments are a necessary and regular part of managing our business. We will continue to prioritize and invest in strategic growth areas for our future and in support of our customers and partners.&#8221;
Microsoft&#8217;s financial year 2024 concluded on Jun. 30. The company often restructures its business at the beginning of a new fiscal year.
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This is the third round of layoffs by Microsoft in 2024. In June, the company cut around 1,000 jobs <a href="https://www.benzinga.com/news/24/06/39151312/microsoft-google-announce-hundreds-of-job-cuts-in-tech-departments-despite-robust-financials">across various units</a>, including its Azure cloud unit and HoloLens mixed-reality organization. Earlier in the year, Microsoft laid off nearly 2,000 employees in its gaming unit, following its <a href="https://www.benzinga.com/general/gaming/23/10/35239617/microsofts-69b-activision-blizzard-acquisition-gets-green-light-from-uk-antitrust-regulator">$69 billion acquisition</a> of Activision Blizzard.
Microsoft is making these cutbacks to maintain its profit margins amid increased capital spending, aimed at providing the cloud infrastructure required for AI applications.
Microsoft&#8217;s workforce expanded during the pandemic but has stabilized over the past two years. As of the end of 2023, the company employed approximately 227,000 people worldwide, down from 232,000 the previous year, according to the report.
Microsoft did not immediately respond to a request for comment from <a href="https://pro.benzinga.com/dashboard">Benzinga</a>.
Why It Matters: The recent layoffs at Microsoft are part of a broader trend in the tech industry, where companies are making significant workforce reductions to streamline operations and cut costs.
For instance, Tesla Inc. <a href="https://www.benzinga.com/top-stories/24/06/39457749/tesla-leads-2024-us-tech-layoffs-so-far-followed-by-dell-cisco-xerox-paypal-microsoft">led 2024 U.S. tech layoffs</a>, reducing its workforce by at least 14% this year. Similarly, Meta Platforms Inc. has also <a href="https://www.benzinga.com/news/24/06/39314161/zuckerberg-targets-metas-top-brass-in-planned-job-cuts-as-his-wealth-hits-181b-stock-price-soars">implemented job cuts</a> as part of its &#8220;Year of Efficiency&#8221; goals.
Moreover, Alphabet Inc.&#8217;s Google <a href="https://www.benzinga.com/news/24/05/38575532/google-eliminates-200-jobs-moves-roles-to-india-and-mexico-as-part-of-cost-trimming-efforts">recently eliminated approximately 200 jobs</a> and relocated some roles to India and Mexico as part of its cost-cutting measures. These moves reflect a broader industry trend where tech giants are focusing on efficiency and profitability amid economic uncertainties.
Microsoft&#8217;s layoffs also come at a time when the company is investing <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39579731/nvidia-apple-microsoft-race-toward-4t-market-cap-analyst-expects-ai-driven-tech-ral">heavily in AI applications</a>, which require substantial capital spending. This strategy is aimed at maintaining profit margins while navigating the challenges of a rapidly evolving tech landscape.
The tech industry has seen a wave of layoffs in 2024, with companies like FedEx Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) <a href="https://www.benzinga.com/trading-ideas/previews/24/06/39464492/fedex-q4-earnings-preview-share-buyback-job-cuts-eight-straight-revenue-misses-among-items">also announcing job cuts</a> as part of their financial strategies. 
Price Action: Microsoft stock closed at $460.77 on Wednesday, up by 0.32% for the day. In after-hours trading, the stock was down 0.21%. Year to date, Microsoft's stock has seen a 24.24% increase, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
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Photo courtesy: Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

MSFT

Microsoft Carries Out Another Round Of Layoffs Across Teams And Geographies, Third This Year So Far

OpenAI&#8216;s <a href="https://www.benzinga.com/news/24/05/38808197/despite-microsofts-13b-funding-openai-snubs-top-investor-launches-chatgpt-app-for-apple-macs-ahead-o">recently launched</a> ChatGPT macOS app for Apple Inc.&#8217;s Macs had a significant security vulnerability. The app was storing conversations in plain text, making them easily accessible to unauthorized users. OpenAI has since addressed and resolved this issue.
What Happened: The security flaw in the ChatGPT macOS app was brought to light by Pedro José Pereira Vieito. Vieito <a href="https://www.threads.net/@pvieito/post/C85NVV6hvF6?xmt=AQGz0o3JtBOwk1nfUgk8lvxQoIV8E92xz1vK1IP8VC6zhA">demonstrated</a> on the social media platform Threads how easy it was to access and read the conversations stored in plain text, <a href="https://www.theverge.com/2024/7/3/24191636/openai-chatgpt-mac-app-conversations-plain-text">reported</a> The Verge on Thursday.
&#8220;The OpenAI ChatGPT app on macOS is not sandboxed and stores all the conversations in plaintext in a non-protected location,&#8221; Vieito wrote.
This flaw could have potentially allowed unauthorized parties to access and read the conversations and the data within them, according to the report.
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After being alerted to the issue by The Verge, OpenAI took swift action and released an update that encrypts the chats. The company assured that it is committed to providing a user-friendly experience while maintaining high-security standards.
&#8220;We are aware of this issue and have shipped a new version of the application which encrypts these conversations," OpenAI spokesperson Taya Christianson said in a statement, according to the report. "We're committed to providing a helpful user experience while maintaining our high-security standards as our technology evolves."
According to the report, after downloading the update, conversations are no longer visible in plain text.
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Why It Matters: This security flaw comes on the heels of significant developments between OpenAI and Apple Inc. In June, Apple <a href="https://www.benzinga.com/news/24/06/39304229/apple-and-openai-chatgpt-partnership-wont-include-cash-payments-for-now-but-does-it-mean-you-will-ne">announced a partnership</a> with OpenAI to integrate ChatGPT into its devices. This collaboration is part of Apple&#8217;s broader push into artificial intelligence, aiming to enhance Siri and introduce new writing tools.
However, this partnership has raised concerns within Microsoft Corp, a major investor in OpenAI. Microsoft CEO Satya Nadella met with OpenAI CEO Sam Altman to <a href="https://www.benzinga.com/news/24/05/39109729/openais-apple-deal-sparks-concerns-in-microsoft-could-shift-ai-market-dynamics">discuss the potential impact</a> of this deal on Microsoft&#8217;s AI ambitions.
Additionally, the <a href="https://www.benzinga.com/24/07/39611089/top-apple-executive-phil-schiller-to-join-openai-board-as-observer-giving-iphone-maker-equal-status">partnership is being further solidified</a>, with former Apple marketing chief Phil Schiller expected to join OpenAI&#8217;s board as an observer.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

OpenAI's ChatGPT App For Apple's Macs Had A Major Security Flaw, Allowing Malicious Parties To Snoop In On Conversations

EV giant Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is now attempting to woo military personnel into purchasing their cars by <a href="https://www.benzinga.com/news/24/06/39471817/tesla-opens-up-fsd-transfers-yet-again-heres-how-long-you-have-to-save-up-to-8-000">offering them</a> $1,000 off on the purchase price of any of its cars but the Cybertruck.
What Happened: Military veterans, retirees, active duty members, and their spouses can now avail $1000 off on buying a Model 3, Model Y, Model S, and Model X. 
Eligible individuals just have to pick their vehicle and verify their military status to be eligible. There is no limit on the number of vehicles that can be purchased under the offer. 
The program, known as the Tesla Military Purchase Program, was announced on Wednesday, in time for the Fourth of July.
<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">The most American-made cars are S3XY To honor those who have served our country, members of the US military + their spouses are eligible for the Tesla Military Purchase Program on a new Model S, 3, X or Y → <a href="https://t.co/86QHvajnjG">https://t.co/86QHvajnjG</a> <a href="https://t.co/n0NISCwUXM">pic.twitter.com/n0NISCwUXM</a>
&mdash; Tesla North America (@tesla_na) <a href="https://twitter.com/tesla_na/status/1808573554213949524?ref_src=twsrc%5Etfw">July 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: Tesla also has a veteran program, aimed at allowing veterans to settle into civilian life and be part of the company&#8217;s battery and EV production. The program allows for veterans from any military branch to join the company in&nbsp;manufacturing, logistics, sales, IT,&nbsp;and more. 
The offer is also aimed at boosting the company&#8217;s sales which has been going down since the start of 2024. For the second quarter, the company delivered 443,956 vehicles globally <a href="https://www.benzinga.com/markets/equities/24/07/39595720/tesla-deliveries-fall-for-second-straight-quarter-but-stock-takes-off-as-q2-numbers-exceed-expec">marking a 4.8% drop from last year</a> but still beating the consensus estimate. However, the delivery numbers are still better than in the first quarter when the company delivered just <a href="https://www.benzinga.com/news/24/04/38068997/elon-musk-dwells-on-wokeness-geopolitics-population-crisis-but-mostly-stays-silent-on-teslas-gloomy">386,810 vehicles. </a>
However, Tesla CEO Elon Musk is optimistic and said in April during the company&#8217;s first-quarter earnings call that the company will indeed have higher sales in 2024 as compared to last year when it delivered a total of 1.81 million vehicles. The company now has to sell about a million vehicles in the remaining half of the year if it is to meet the CEO&#8217;s expectations.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
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TSLA

Tesla Rings Fourth Of July With $1,000 Discount For Military Personnel On New EV Purchases

Dearborn-based automaker Ford Motor Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) sold 23,957 EVs in the <a href="https://www.benzinga.com/markets/equities/24/07/39618985/ford-reports-q2-sales-growth-trucks-up-5-evs-surge-61-trails-tesla-in-volume">second quarter in the U.S.</a>, trumping rival General Motors Co&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) EV sales but lagging behind EV giant Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>). 
What Happened: Ford sold a total of 23,957 EVs from April to June, marking a 61.4% jump from the corresponding quarter of last year. 
The surge in sales was mostly due to the popularity of its Mustang Mach-E SUV of which the company sold 12,645 units. The F-150 Lightning electric pickup truck was the second best-selling EV from the company, followed by its E-transit electric vans. 
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Model</td>
<td>Q2 Sales In U.S.</td>
</tr>
<tr>
<td>Mustang Mach-E</td>
<td>12,645</td>
</tr>
<tr>
<td>F-150 Lightning</td>
<td>7,902</td>
</tr>
<tr>
<td>E-transit</td>
<td>3,410</td>
</tr>
<tr>
<td>Total</td>
<td>23,957</td>
</tr>
</tbody>
</table>
</figure>
The two best-selling Ford EVs are drawing customers from other brands with over 50% of sales in the first half of the year being new to Ford, the company said. As for the E-transit, three out of every four of its sales this year are from repeat customers, it added. 
However, EVs account for merely 4.5% of Ford&#8217;s total vehicle sales in the country. 
Comparing With Rivals: Detroit-based General Motors <a href="https://www.benzinga.com/news/24/07/39612749/60-000-cadillac-lyriq-drives-gms-q2-ev-sales-after-bolt-is-discontinued">sold only 21,930 EVs in the quarter</a> in the U.S. despite its larger EV lineup composed of 7 models. Ford trumped its EV sales with just three electric models.
However, both the legacy automakers continue to trail behind Tesla which delivered 443,956 vehicles in the second quarter globally, marking a 4.8% drop from last year but still beating the consensus estimate. Tesla does not segment its vehicle deliveries by geography.
Cheaper Prices Fail To Translate To More Sales: While the Mustang Mach-E is up against Tesla&#8217;s best-selling Model Y in the mass-market electric SUV segment, its Lightning is up directly against the Cybertruck in the EV truck segment. Both of these Ford EVs, however, are priced below their Tesla counterparts. 
While the base model of the Mach-E starts at around $40,000, the Model Y base version starts at around $45,000. 
The 2024 Lightning, meanwhile, has a base version starting at $62,995, much below the Cybertruck whose lower-priced version now starts at $79,990. While Tesla plans to introduce a lower-priced rear-wheel drive version of the Cybertruck starting at $60,990, it will only be available in 2025. 
However, the <a href="https://www.benzinga.com/trading-ideas/24/07/39609895/ford-ceo-farley-says-company-needs-to-move-past-monster-vehicles-to-be-profitable-in-ev-space-start">cheaper prices</a> are thus far unable to bring about larger customer interest in Ford vehicles as compared to corresponding Tesla offerings. 
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Photo courtesy: Shutterstock

Mustang Mach-E Drives Ford's Q2 EV Sales Ahead Of GM But It's Still Just A Fraction Of Elon Musk's Tesla

Presumptive Republican candidate Donald Trump is rumored to have told Republican lawmakers that he <a href="https://www.benzinga.com/news/24/02/37297217/you-screw-us-we-screw-you-trump-vows-to-impose-retaliatory-tariffs-against-china-or-any-other-countr">would replace taxes with tariffs</a>, and Nobel laureate and noted economist Paul Krugman on Tuesday weighed in on the ramifications of such a policy move.
Consumers To Bear Brunt? Much against claims by leading Republicans that tariffs are a tax on businesses and that they are paid by foreigners, they do hurt consumers, <a href="https://www.nytimes.com/2024/07/02/opinion/tariffs-trump-china-taxes.html">said</a> Krugman in a New York Times op-ed.
To make his case, Krugman referred to the situation that prevailed when Trump was in office. The former president imposed high tariffs on China in 2018 and 2019, with the average U.S. tariffs on imports from China climbing from about 3% to 21%, the economist said. At the same time, the average price of imports from China fell only around 2%, he said, adding that an 18-point rise in tariffs was offset by only a 2% decline in Chinese import prices, net of tariffs. 
&#8220;That sure looks as if American consumers bore the great bulk of the burden,&#8221; the economist said.
Ideally, if a big country like the U.S. imposed tariffs on a broad range of goods, it can improve the prices of its exports relative to its imports, provided the other countries do not respond with tariffs on U.S. exports, Krugman said. But in reality, the tariffs will work via a rise in the value of the dollar if the U.S. reduced imports, he said. This will lower the dollar price of the goods the U.S. imports, he added.
&#8220;And this effect wouldn't be confined to the prices of imports from the countries subject to high tariffs,&#8221; Krugman said.
The economist sees the scope of other countries retaliating if the U.S. imposed widespread tariffs.
See Also: <a href="https://www.benzinga.com/money/how-to-invest-in-startups">How To Invest In Startups</a>
Who&#8217;s Impacted: <a href="https://www.benzinga.com/markets/asia/24/07/39595146/trumps-trade-tariffs-would-be-highest-in-the-postwar-period-and-increase-inflation-says-goldman-sach">Trump&#8217;s economic program</a> calls for a combination of tax hikes in the form of higher tariffs and tax cuts for corporations and high-income individuals, Krugman noted. The former president&#8217;s idea of replacing income tax with tariffs isn't feasible, he added.
If Trump collected as much tariff revenue as possible while <a href="https://www.benzinga.com/money/what-is-income-tax">cutting income taxes</a> by the same amount, this combination would affect Americans at different levels, the economist said, citing an analysis by the Peterson Institute.
&#8220;The net effect would be negative for 80 percent of the population, especially for the bottom 60 percent, while extremely positive for the top 1 percent,&#8221; Krugman said. This is because lower-income families spend a higher share of their income than the rich, so they would be hurt more by what would amount to a large sales tax, he said.
The benefits of tax cuts would flow mainly to the top, Krugman said, adding that income taxes are disproportionately paid by the affluent. Around half the population doesn't pay income taxes at all, although they pay lots in other taxes, such as the payroll tax, he added.
It&#8217;s not China or foreigners in general who will pay the tariffs which Trump will certainly impose if he occupies the White House once more time, Krugman said. &#8220;Everything says that the burden would fall on Americans, mainly the working class and the poor,&#8221; he added.
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<li><a href="https://www.benzinga.com/markets/asia/24/06/39488146/investors-worry-how-trump-tariffs-could-further-impact-companies-reliant-on-chinese-suppliers-vulner">Investors Worry How Trump Tariffs Could Further Impact Companies Reliant On Chinese Suppliers: Vulnerable Stocks &#8216;Have Underperformed&#8217; This Year</a></li>
</ul>
Photo courtesy: Shutterstock

Economics

Paul Krugman Says Trump Tariffs Will Hurt 80% Of Americans, Benefit Only The Top 1%: 'Burden Would Fall On…Working Class And The Poor'

President Joe Biden managed to close his gap <a href="https://www.benzinga.com/topic/donald-trump">with his predecessor</a> Donald Trump and get even with the latter, according to the results of a nationwide survey of voters published on Friday.
The Matchup: Biden and Trump shared honors, receiving 40% support each, a new Reuters/Ipsos poll conducted after a forgettable debate performance by the former showed. This marked an improvement for Biden from a June 11-12 poll, which showed him trailing his opponent by 2 percentage points.
The pollster contacted 1,070 U.S. adults for the survey that concluded on Tuesday and the margin of sampling error was 3.5 percentage points.
The poll found that one in five registered voters was like a cat on the wall. They were unsure for whom they would vote or pick a different candidate or would not vote at all. This leaves the Nov. 5 election wide open.
Biden&#8217;s performance in the latest poll comes despite an overwhelming majority (83% of the Democrats and 97% of the Republicans) agreeing <a href="https://www.benzinga.com/news/24/07/39610890/biden-blames-jet-lag-for-subpar-debate-performance-i-decided-to-travel-around-the-world-a-couple-tim">that he stumbled</a> and appeared to show his age. But only 58% of the Democrats and 11% of the Republicans said the same about Trump.
The pushback for Trump is his extreme MAGA stance and the criminal cases he is left to contend with. The former president is facing the prospect of jail time after a New York State Supreme Court found him guilty of 34 charges in the hush-money case.
See Also: <a href="https://www.benzinga.com/news/24/07/39568989/staunch-biden-supporter-paul-krugman-gives-up-on-president-after-debate-fiasco-we-need-to-recognize">Staunch Biden Supporter Paul Krugman Gives Up On President After Debate Fiasco? &#8216;We Need To Recognize Reality&#8217;</a>
Why It&#8217;s Important: The 2024 election is evolving as one of the most closely contested races despite voter discontent with both candidates. Rumors swirling around suggest the Democratic party <a href="https://www.benzinga.com/news/24/07/39613299/democrats-want-biden-to-quit-push-this-candidate-as-better-fit-to-rival-trump-in-2024-presidential-r">could replace Biden</a> with an alternative at the party&#8217;s convention in mid-August after his debate performance on June 27.
Reports also suggest that Biden told his campaign staff in a call that while he is not quitting the race, <a href="https://www.benzinga.com/general/politics/24/07/39620336/biden-contemplates-future-in-2024-race-after-poor-debate-showing-report">he acknowledged</a> that the next few days will be crucial if he has to stay in contention.
A slew of names, including Vice President Kamala Harris and several Democratic Governors, are floating around. The Reuters/Ipsos poll found that only former first lady Michelle Obama <a href="https://www.benzinga.com/news/24/07/39613299/democrats-want-biden-to-quit-push-this-candidate-as-better-fit-to-rival-trump-in-2024-presidential-r">had a better favorability rating among registered voters</a>, about 10 points more than both Biden and Trump. Obama has not yet announced her intention to run for office.
Read Next: 
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<li><a href="https://www.benzinga.com/money/how-to-invest-in-startups">How To Invest In Startups</a></li>
</ul>
Photos courtesy: Shutterstock

Politics

Media

Biden Vs. Trump: New Poll Shows President Still Very Much In Race Despite Debate Fiasco But Final Outcome Hinges On This Key Voter Group

Fisker is seeking the approval of the <a href="https://www.benzinga.com/news/24/06/39371181/troubled-ev-startup-fisker-files-for-bankruptcy-joining-lordstown-and-arrival-elon-musk-says-default">Delaware bankruptcy court judge</a> to sell 3,321 Ocean electric SUVs in its inventory at a significantly reduced price of around $14,000 per vehicle. 
What Happened: Fisker, which filed for bankruptcy protection in June, is looking for approvals to sell 3,321 Ocean SUVs to New York-based American Lease for an aggregate of $46.25 million, not including delivery charges. It would mean that the company would be selling each Ocean SUV at just around $14,000 if given the nod. 
The price point of $14,000 is significantly lower than the vehicle&#8217;s current price as listed on the company website. According to Fisker, the cheaper Ocean variant called Sport starts at around $39,000 with the more premium two variants starting at about $53,000 and $61,500, respectively. 
American Lease initially agreed to purchase just 2,100 EVs before Fisker filed for bankruptcy but later bumped the number up to purchase Fisker&#8217;s entire inventory of 3,321 Ocean vehicles, the EV maker said in a court filing. American Lease is a vehicle leasing company that serves the ride-share community in and around New York City. 
See Also: <a href="https://www.benzinga.com/news/24/06/39562595/elon-musk-reacts-to-footballer-isaiah-simmons-white-tesla-cybertruck-parked-up-in-manhattan-nice?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts To Footballer Isaiah Simmons&#8217; White Tesla Cybertruck Parked Up In Manhattan: &#8216;Nice&#8217;</a>
Why It Matters: Fisker&nbsp;filed for Chapter 11 bankruptcy&nbsp;and listed estimated assets in the range of $500 million to $1 billion and liabilities in the $100 million to $500 million range last month after potential investment talks with a major automaker collapsed in March. Its sole EV offering, the Ocean SUV, has been plagued by safety concerns and recalls. 
Fisker said in early June that it is recalling&nbsp;<a href="https://www.benzinga.com/news/24/06/39305632/nearly-bankrupt-fisker-to-recall-over-18-000-ocean-suvs-across-north-america-and-europe" target="_blank" rel="noreferrer noopener">18,000 of its&nbsp;Ocean SUV vehicles</a>&nbsp;in North America as well as Europe over software issues and non-compliance with safety standards. 
In late June, Fisker again issued a recall of 12,523 Ocean vehicles in the U.S., Canada, and Europe citing concerns that their outer door handles may stick, preventing customers from entering or exiting the car.
NHTSA is currently investigating multiple issues with the Ocean SUVs including concerns of unintended activation of its automatic emergency braking system.
Photo courtesy: Fisker
Read More:
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<li><a href="https://www.benzinga.com/news/24/07/39613049/tesla-ceo-elon-musk-divulges-his-publicly-traded-stock-portfolio-and-its-in-stark-contrast-to-that-o" target="_blank" rel="noreferrer noopener">Tesla CEO Elon Musk Divulges His Publicly Traded Stock Portfolio, And It&#8217;s In Stark Contrast To That Of Bill Gates</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Legal

Fisker Asks Bankruptcy Court To Let It Sell Thousands Of Ocean EVs At Fraction Of Original Price

Australia&#8217;s top-secret intelligence data will be migrated to the cloud under a $2 billion deal with Amazon.com Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) cloud service Amazon Web Services. This decision is expected to enhance the country&#8217;s defense force interoperability with the United States.
What Happened: The Australian Signals Directorate, the country&#8217;s national security agency, will also increase its use of artificial intelligence to analyze data as part of this transition. The plan includes the construction of top-secret data centers in Australia, reported Reuters on Thursday.
Defense Minister Richard Marles stated that the move to cloud services provided by Amazon will provide greater resilience to data supporting the defense force. This will ensure a common computing operating environment with the U.S. defense forces in the future.
&#8220;Artificial intelligence is an important game changer for all of us in the intelligence community, and we are working to embrace the use of it in an ethical, well governed and well understood manner, where we understand very carefully when we bring AI tools into our environment how are they being used, what are they doing to the data and do we understand how carefully they need to be governed?&#8221; The Director General of the Australian Signals Directorate, Rachel Noble, said in Canberra on Thursday.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39625271/bitcoin-ethereum-dogecoin-in-the-red-again-analyst-reveals-downside-target?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin In The Red Again, Analyst Reveals Downside Target</a>
Director-General of National Intelligence, Andrew Shearer, emphasized that interoperability with security partners such as the United States is a priority. Australian Prime Minister Anthony Albanese also highlighted the potential of the partnership to upgrade national security capabilities and create 2,000 local jobs.
Why It Matters: This move by the Australian government comes at a time when AWS has been expanding its presence in the Asia-Pacific region. In June, Amazon announced plans to <a href="https://www.benzinga.com/markets/asia/24/06/39284404/amazon-to-invest-billions-in-taiwan-cloud-infrastructure-expanding-aws-presence-in-asia">invest billions in Taiwan</a> to establish data centers and expand its cloud services. This was seen as a move to meet the region&#8217;s increasing demand for cloud services.
However, AWS has also faced criticism, with <a href="https://www.benzinga.com/news/24/06/39516038/amazon-cloud-conference-disrupted-protestors-demand-company-end-1-2b-contract-with-israel-shared-by">protesters demanding the termination</a> of a $1.2 billion contract with the Israeli government. The protest took place during a conference organized by Amazon&#8217;s cloud division, highlighting the increasing scrutiny on the company&#8217;s business practices.
Moreover, Tesla Inc. CEO Elon Musk recently expressed amazement at the <a href="https://www.benzinga.com/news/24/05/38542692/tesla-ceo-elon-musk-is-impressed-by-the-fact-that-jeff-bezos-aws-12-month-revenue-is-higher-than-466">revenue generated by AWS</a>, noting its trailing 12-month revenue of $94.4 billion, which surpasses that of 466 companies in the S&amp;P 500 index.
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<li><a href="https://www.benzinga.com/government/24/07/39625439/boeing-faces-high-stakes-decision-accept-plea-deal-or-risk-trial-over-737-max-safety-violations">Boeing Faces High-Stakes Decision: Accept Plea Deal Or Risk Trial Over 737 MAX Safety Violations</a></li>
</ul>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

AMZN

Amazon Secures $2B Cloud Deal With Australia's Spy Agency To Shift Intelligence Data On AWS

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) analyst Ali Martinez has recently shared insights on the current state of the cryptocurrency market, suggesting that the recent price action could continue.
What Happened: Martinez, who is known for his analysis of on-chain and technical indicators, took to X to share his observations. Despite the recent market turbulence, Martinez pointed out that only $280.9 million in longs and $25.4 million in shorts have been liquidated.
He noted that previous mass liquidation events have seen over $1 billion wiped out. &#8220;This tells us either the $BTC dip is not over yet or shorts are about to get obliterated,&#8221; Martinez wrote. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> price action has been brutal, but only $280.9 million in longs have been liquidated and $25.4 in shorts. In the past, we have seen mass liquidation events of over $1 billion! This tells us either the <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> dip is not over yet or shorts are about to get obliterated. <a href="https://t.co/PXoaKuWqfE">pic.twitter.com/PXoaKuWqfE</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1808688131362738584?ref_src=twsrc%5Etfw">July 4, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39611479/odds-of-kamala-harris-replacing-joe-biden-as-democratic-presidential-candidate-raised-by-c?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Odds Of Kamala Harris Replacing Joe Biden As Democratic Presidential Candidate Raised By Crypto Bettors, Memecoin Themed On Her Surges 126%</a>
Why It Matters: The recent market volatility has been a topic of concern for many in the cryptocurrency space. Recently, influential crypto VC Andrew Kang <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39624017/bitcoin-faces-potential-retest-of-40-000-influential-crypto-vc-warns">warned of a potential retest</a> of the $40,000 support level, which could lead to a significant price correction for Bitcoin. 
However, the decoupling of Bitcoin and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) from tech stocks, as discussed by Bloomberg ETF analyst James Seyffart and macro trader Alex Krüger, could be a positive sign for the market, indicating a potential maturation and <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39624470/bitcoin-ethereum-decoupling-from-tech-stocks-is-positive-experts-claim">offering diversification benefits</a>.
Meanwhile, a report by 10x Research suggested that <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39621902/bitcoin-will-plummet-to-50k-if-this-key-support-breaks-10x-research">Bitcoin could plummet to $50,000</a> if it fails to maintain support above the crucial $60,000 level. 
Despite the market uncertainty, Mike Novogratz, CEO of Galaxy Digital, offered an <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39620095/mike-novogratz-were-going-to-get-positive-crypto-legislation-no-matter-who-wins">optimistic outlook for cryptocurrency</a> regulation in the United States, stating that positive legislation is likely regardless of the outcome of the next election.
Price Action: Bitcoin&#8217;s price is trading at $59,061 in last 24 hours, marking a decrease of 1.80%. Over the past month, the King Crypto has seen a significant decline of 16.27%. However, year-to-date, Bitcoin has shown strong performance with an increase of $14,889.10, representing a rise of 33.71%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Read Next: 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39614811/why-is-bitcoin-down-to-60k-today?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Why Is Bitcoin Down To $60K Today?</a>
</blockquote>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

$ETH

DLTR

Bitcoin Dip Not Over Yet Or The Shorts Are About To Get 'Obliterated,' Says Ali Martinez

Future Fund Managing Partner Gary Black has defended the decision to reduce the fund&#8217;s stake in Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), citing a shift in investment strategy and the electric vehicle maker&#8217;s performance.
What Happened: Black outlined the criteria for Future Fund&#8217;s sell discipline, in a post written on X on Wednesday, which includes reaching the price target, a change in the investment thesis, excessively high near-term expectations, or a change in strategy or CEO.
Black noted that the fund had trimmed its TSLA position from 12.2% in September 2022 to 3.6% currently, during which time TSLA stock fell 11% while the Nasdaq 100 rose 64%. He added that TSLA was replaced by NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) as the fund&#8217;s number two position, which contributed positively to its performance.
&#8220;We stand by our decision to trim $TSLA from a 12.2% position (#1) in Sept 2022 to 3.6% today (#6). During that period, $TSLA -11% vs NDX +64%, and $NVDA has replaced $TSLA as our #2 position, which has been additive to our performance,&#8221; Black wrote.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Our sell discipline kicks in when: 1/ Stock reaches our price target 2/ Investment thesis changes 3/ Near-term expectations get too high 4/ Strategy change/CEO leaves We stand by our decision to trim <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> from a 12.2% position (#1) in Sept 2022 to 3.6% today (#6). During that… <a href="https://t.co/I27zxso7Hq">pic.twitter.com/I27zxso7Hq</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1808656540217528581?ref_src=twsrc%5Etfw">July 4, 2024</a></blockquote>
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Black also defended the fund&#8217;s conservative second-quarter TSLA delivery forecast, which was down 5% year-over-year actual versus down 10% year-over-year expected. He stated that clients expect the fund to adhere to its research and valuation disciplines.
See Also: <a href="https://www.benzinga.com/markets/equities/24/07/39588207/jim-cramer-has-a-market-strategy-interest-rates-up-buy-mag-7-rates-down-buy-everything?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jim Cramer Has A Market Strategy: Interest Rates Up, Buy Mag 7; Rates Down, Buy Everything</a>
In a separate post, Black outlined the potential upsides and downsides of TSLA, including a potential 20-25% annual increase in electric vehicle adoption and the launch of the $25,000-$30,000 Next Gen vehicle. He also highlighted potential risks such as regulatory issues and earnings risks for fiscal years 2024 and 2025.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> Summary &#8211; 07/03/2024 Upside: 1/ EV adoption +20%-25% per yr 2/ EPS est trend likely to turn positive 3/ Fed starts cutting int rates in 2024 4/ Higher FSD take rates/licensing deal 5/ $25K-$30K Next Gen launch 6/ Optimus production begins FY'25 Downside: 1/ Judge…
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1808647871777886225?ref_src=twsrc%5Etfw">July 3, 2024</a></blockquote>
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Why It Matters: The decision by The Future Fund to reduce its holdings in Tesla Inc. comes amid a backdrop of significant market activity and analyst opinions. Recently, former Speaker of the House&nbsp;Nancy Pelosi&nbsp;(D-Calif.) also <a href="https://www.benzinga.com/etfs/specialty-etfs/24/07/39618512/nancy-pelosi-loads-up-on-more-nvidia-shares-sells-tesla-she-always-reports-right-before-a-hol">disclosed selling Tesla shares</a> while increasing her stake in NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), reflecting a broader trend among investors.
Additionally, Tesla&#8217;s stock has been a focal point for short sellers. Elon Musk <a href="https://www.benzinga.com/top-stories/24/07/39607932/exclusive-tesla-shorts-were-profitable-this-year-until-shareholders-approved-musks-pay-package-exper">recently warned that Tesla shorts</a> &#8220;will be obliterated&#8221; after the company exceeded second-quarter delivery estimates, causing a surge in share prices.
Analysts like Dan Ives of Wedbush have highlighted Tesla&#8217;s potential, driven by its AI capabilities and <a href="https://www.benzinga.com/markets/equities/24/07/39628033/teslas-trillion-dollar-potential-is-driven-by-ai-says-wedbush-analyst-dan-ives-most-undervalued-">data-driven strategy</a>. Ives even raised Tesla's price target to $300, emphasizing its undervaluation in the AI market.
Analysts have praised Tesla&#8217;s potential AI boom and market share growth, with shares up 35% over the last month. Guggenheim analyst Ronald Jewsikow raised <a href="https://www.benzinga.com/24/07/39623354/tesla-energy-draws-attention-praise-from-analysts-with-potential-ai-boom-gaining-market-share-or-the">Tesla&#8217;s price target</a> from $126 to $134, despite maintaining a Sell rating.
Price Action: Tesla Inc. closed at $246.39 on Wednesday, up 6.54% for the day. In after-hours trading, the stock continued to rise, gaining an additional 0.86%. Year to date, Tesla's stock is down 0.82%, according to&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next: 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39611479/odds-of-kamala-harris-replacing-joe-biden-as-democratic-presidential-candidate-raised-by-c?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Odds Of Kamala Harris Replacing Joe Biden As Democratic Presidential Candidate Raised By Crypto Bettors, Memecoin Themed On Her Surges 126%</a>
</blockquote>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Analyst Ratings

NVDA

Tesla Stake Cut Defended By Gary Black, Says Strategy Shift 'Additive To Our Performance' — Mega Bull Highlights Positives, Negatives Of Elon Musk's Auto Company

Nissan Motor Co., Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NSANY#OTC">NSANY</a>) and Honda Motor Co., Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMC#NYSE">HMC</a>) are <a href="https://www.benzinga.com/markets/equities/24/03/37630247/nissan-honda-weigh-china-production-cuts-amid-ev-market-strain-report">contemplating a collaboration</a> in the development of automotive software and EV charging infrastructure to enhance their competitiveness in the electric vehicle market.
What Happened: The two Japanese automakers are considering a partnership to jointly develop operating systems and other automotive software, which could potentially reduce related costs, <a href="https://asia.nikkei.com/Business/Automobiles/Electric-vehicles/Nissan-and-Honda-weigh-tie-up-on-software-and-EV-charging2">reported</a> Nikkei on Wednesday. 
This move is intended to help the companies catch up in the EV market, where they have lagged behind competitors like Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and China&#8217;s BYD Co Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>).
Software plays a crucial role in enhancing a vehicle&#8217;s basic functions and can be updated to continuously improve capabilities. The partnership could also extend to the development of EV charging infrastructure, a critical factor in the EV market.
See Also: <a href="https://www.benzinga.com/news/24/07/39594005/spacex-developing-tools-to-remove-heat-shield-tiles-on-starship-rather-than-manually-breaking-them-a?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">SpaceX Developing Tools To Remove Heat Shield Tiles On Starship Rather Than Manually Breaking Them Away, Says CEO Elon Musk</a>
Earlier in March, Nissan and Honda announced that they were considering a comprehensive strategic partnership, which could include cooperation in six fields, including EV batteries. This potential collaboration in automotive software and EV charging infrastructure is a further step in this direction.
Why It Matters: The potential tie-up between Nissan and Honda comes at a time when Japanese automakers are facing increased competition in the EV market, particularly from Chinese manufacturers like BYD. In response, Nissan and Honda have been exploring various strategies to boost their EV capabilities.
In March, the two companies <a href="https://www.benzinga.com/news/24/03/37744148/honda-and-nissan-forge-alliance-to-boost-electric-car-tech">entered into a memorandum of understanding</a> for a strategic partnership in vehicle electrification and intelligence, including automotive software platforms and core components related to EVs. 
Nissan recently <a href="https://www.benzinga.com/news/24/04/38427099/japanese-automakers-toyota-nissan-partner-with-tencent-baidu-to-boost-ai-capabilities-in-china">teamed up with Chinese tech giants</a> Tencent and Baidu to enhance their AI capabilities in China, a crucial market for EVs.
Despite these efforts, the Japanese automakers have been facing challenges in the EV market. In March, it was reported that Nissan and Honda were considering <a href="https://www.benzinga.com/markets/equities/24/03/37630247/nissan-honda-weigh-china-production-cuts-amid-ev-market-strain-report">reducing production in China</a> due to increased competition from EV manufacturers like BYD. 
Read Next: 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"><a href="https://www.benzinga.com/trading-ideas/24/07/39609895/ford-ceo-farley-says-company-needs-to-move-past-monster-vehicles-to-be-profitable-in-ev-space-start?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ford CEO Farley Says Company Needs To Move Past &#8216;Monster Vehicles&#8217; To Be Profitable In EV Space: &#8216;Start To Get Back In Love With Smaller Vehicles&#8217;</a>
</blockquote>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

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Nissan And Honda Play Tesla Catchup — Considering EV Charging Tie-Up To Boost Competitiveness

On Wednesday, major U.S. indices showed mixed performance: the Dow Jones Industrial Average dipped slightly by 0.06% to 39,308, while the S&amp;P 500 climbed 0.5% to 5,537.02, and the Nasdaq increased by 0.9% to 18,188.30.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)
The stock closed 4.57% higher at $128.28, with an intraday high and low of $128.28 and $121.36 respectively. The 52-week high and low stand at $140.76 and $39.23. Benzinga reported that Nvidia CEO Jensen Huang <a href="https://www.benzinga.com/markets/equities/24/07/39611550/nvidia-ceo-jensen-huang-sells-over-29m-worth-of-shares-as-companys-stock-shoots-up-155-in-2024-a">sold over $29 million</a> worth of shares amid the company's remarkable stock market performance.
Koss Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KOSS#NASDAQ">KOSS</a>)
Koss shares soared 143.81% to close at $10.63, with an intraday high and low of $18.73 and $5.22 respectively. The 52-week high and low are $18.73 and $2.27. The stock&#8217;s movement was <a href="https://www.benzinga.com/news/24/07/39618559/koss-corp-stock-is-ripping-higher-as-roaring-kitty-speculation-mounts-whats-going-on">driven by speculation</a> about recent moves from meme stock trader Keith Gill, also known as &#8220;Roaring Kitty&#8221;.
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/39582406/what-are-germans-rolling-in-their-joints-this-denver-cannabis-company-found-out-at-berlins-mary-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">This Cannabis Company Unveils Unique Findings At Germany</a>
Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>)
Broadcom shares rose 4.33% to close at $1,729.22, with an intraday high and low of $1,729.22 and $1,664.46 respectively. The 52-week high and low are $1,851.62 and $795.09. The stock&#8217;s rise followed former Speaker of the House Nancy Pelosi&#8217;s <a href="https://www.benzinga.com/news/24/07/39620788/whats-going-on-with-broadcom-stock-wednesday">recent purchase</a> of call options in the semiconductor giant.
NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>)
Nio shares traded 7.51% higher to close at $4.87, with an intraday high and low of $5.04 and $4.59 respectively. The 52-week high and low are $16.18 and $3.61. Benzinga reported that the shares moved higher amid <a href="https://www.benzinga.com/news/24/07/39621784/whats-going-on-with-ev-maker-nios-stock\">strength in Chinese markets</a> and a rally in the broader EV market after several companies reported strong EV delivery figures.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla shares rose 6.54% to close at $246.39, with an intraday high and low of $248.35 and $234.25 respectively. The 52-week high and low are $299.29 and $138.8. Benzinga noted that Tesla reported <a href="https://www.benzinga.com/markets/equities/24/07/39612719/teslas-q2-deliveries-beat-draws-mixed-reaction-from-analysts-early-independence-day-celebration-">above-consensus deliveries</a> for the second quarter, sending its stock up by over 10% to its highest level in nearly six months.
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Prepare for the day&#8217;s trading <a href=""Premarket">with top premarket movers and news</a> by Benzinga.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>