Pony AI Inc (NASDAQ: PONY) chief executive James Peng, says the company’s US operations are not officially on the market, but the door isn’t entirely closed either.

In an interview with CNBC this morning, Peng acknowledged the possibility of a sale, stating, “I wouldn’t say we’re open, but if it’s a possibility, we might consider.”

Peng’s remarks follow reports that Uber and its co-founder, Travis Kalanick, could be eyeing PONY assets in the US.

While the chief executive emphasized the United States remains “a very integral part” of the firm, his openness to evaluating strategic options signals Pony AI is weighing global priorities carefully in a rapidly evolving autonomous vehicle landscape.

Pony AI shares are currently down about 45% versus their year-to-date high in late May.

Why isn’t PONY interested in large scale deployment in the US

Despite its origins in Silicon Valley, Pony AI Inc is currently not pursuing “large-scale commercial operations” in the United States.

Peng explained that the company’s US office is now focused mostly on research and development.

The decision reflects a strategic pivot away from the American market, likely influenced by regulatory hurdles and geopolitical tensions.

Citing these risks, the chief executive said PONY is “exploring and weighing in different options for operations in different geo markets.”

For now, the robotaxi company appears more inclined toward building momentum in regions with more favorable regulatory environments and clearer paths to commercialization.

Here’s why Pony AI picked Dubai for commercial launch

Dubai has emerged as a key launchpad for Pony AI’s international expansion, and the reasons are both strategic and pragmatic.

Peng cited strong government support and high demand for shared mobility as decisive factors.

“Dubai turns out to be one of the very friendly governments with a push for supporting autonomous driving,” he said.

The partnership with Dubai’s Roads and Transport Authority is expected to lead to unmanned commercial operations as early as next year.

However, PONY’s global ambitions don’t stop there – fleets are also being launched in South Korea and Luxembourg, with additional markets under consideration as well.

Peng emphasized the importance of early entry and local collaboration, saying, “It’s always good to be there early to gain close collaboration with local players and governments.”

PONY stock could soon be listed in Hong Kong

With Hong Kong’s IPO market heating up, Pony AI is actively considering a listing in the city.

Peng described the Hong Kong exchange as “very much alive this year and booming,” and acknowledged its proximity to the company’s home base in China as a strategic advantage.

“A lot of the investors would like to have access to a market that’s close to our home base,” he noted.

While no formal plans have been announced, Peng confirmed that the company is “exploring the possibilities” of either a primary or secondary listing.

As PONY continues to scale its operations and expand globally, a Hong Kong IPO could provide the financial firepower and investor visibility needed to accelerate its ambitions.

Wall Street currently has a consensus “buy” rating on the autonomous vehicle stock.

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The Dow Jones Index has surged and entered a bull market in the past few months. After crashing at $36,615 in April, the blue-chip index has rebounded by over 21% to the current $44,370. It is approaching the all-time high of $45,045. 

Fear and Greed Index has surged

One reason for the ongoing Dow Jones Index surge is the ongoing risk-on sentiment among market participants. The closely-watched fear and greed index has plunged to 15, from the year-to-date high of over 50.

Most importantly, the closely-watched Fear and Greed Index has jumped to the extreme greed zone of 75. This happened as key gauges like the stock price strength, stock price breadth, put and call options, and junk bond demand moved to an all-time high.

Further data shows that the safe-haven demand and market momentum indices moved to the greed zone. Only the market volatility index has jumped to the neutral point. 

The Dow Jones Index always surges when it is in an uptrend, as it sends a signals that investors have embraced a risk-on sentiment.

One reason for this is that these market participants are no longer concerned about Donald Trump’s tariff threat. 

For example, the Dow Jones Index continued rising last week after he sent letters to countries warning them about new tariffs that will kick off in August. He continued his threats during the weekend as he warned about new tariffs on the European Union and Mexico.

Corporate earnings ahead

The next important catalyst for the Dow Jones Index is the upcoming earnings season, which kicks off officially on Tuesday, when the biggest U.S. banks and companies will publish their earnings. 

Some of the most notable companies that will publish their earnings this week are JPMorgan, Goldman Sachs, Citigroup, Wells Fargo, BlackRock, and Netflix. 

Most analysts expect these results to show that earnings dropped sharply in the second quarter because of tariffs. Precisely, the expectation is that the average earnings dropped to the lowest level since Q4’23.

On the positive side, this decline in earnings could mark a bottom, which will lead to sustained growth in the next few months.

The Dow Jones Index will also react to the upcoming US Consumer Price Index (CPI) data. Economists expect the data to show that US inflation rose for the second consecutive months because of tariffs. 

Dow Jones Index analysis

The daily chart shows that the Dow Jones Index has jumped in the past few months, moving from the year-to-date low of $36,615 in April to $44,370 today. 

The index has already formed a golden cross as the 50-day and 200-day Exponential Moving Averages (EMA) crossed each other.  Most importantly, it has formed an inverse head-and-shoulders pattern, a popular bullish reversal sign. 

The Average Directional Index (ADX) and the MACD indicators have all jumped in the past few months. Therefore, the most likely scenario is where it keeps rising this week.

For this to happen, it will need to first pass the all-time high at $45,045. This price coincides with the neckline of the inverse head-and-shoulders pattern.

By measuring the distance from the head and the neckline, we see that it is about $8,385. Adding this figure to the neckline shows that the index will ultimately jump to over $53,000. 

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Electric vehicle (EV) manufacturer Rivian Automotive Inc. (NASDAQ: RIVN) has come under pressure from Wall Street, with Guggenheim downgrading the stock from “Buy” to “Neutral,” and removing its previous $16 price target.

Analyst Ronald Jewsikow cited weaker long-term sales projections for Rivian’s upcoming R2 and R3 models, primarily due to softness in current R1 model revenues and the anticipated loss of EV tax incentives.

Jewsikow noted that while Rivian’s cost-reduction strategies for the R2 remain credible, declining demand for the R1 and changes to US EV tax credit policy, driven in part by President Donald Trump’s recently passed spending bill, are likely to weigh heavily on the company’s ability to achieve necessary average selling prices (ASPs) and volume targets.

“We no longer have confidence in the required volumes and/or required ASPs to support our prior price target,” Jewsikow said.

The analyst warned that the loss of consumer tax credits will raise the effective cost of R2 and R3 vehicles, dampening long-term demand, though he expects this impact to materialize no earlier than 2027 due to a robust preorder backlog.

In the short term, some demand may be pulled forward as buyers rush to make purchases before incentives disappear.

Still, Jewsikow believes this will not sufficiently offset the longer-term negatives.

Cantor Fitzgerald maintains neutral stance despite new product launch

Echoing Guggenheim’s cautious tone, Cantor Fitzgerald reiterated its Neutral rating on Rivian, maintaining a $15 price target.

The firm’s stance follows Rivian’s latest production and delivery update, which showed notable year-over-year declines.

Rivian produced 5,979 vehicles in Q2 2025, well below consensus expectations of 11,325 and down from 9,612 in the same quarter last year.

Vehicle deliveries for the quarter totaled 10,661, meeting analyst expectations but below the 13,790 units delivered in Q2 2024.

Rivian attributed the production drop to retooling efforts ahead of its model year 2026 vehicles.

Despite setbacks, the company has maintained its revised full-year delivery guidance of 40,000 to 46,000 vehicles, down from an earlier forecast of 46,000 to 51,000.

The company recently unveiled its second-generation quad-motor EV powertrain, boasting 1,025 horsepower, 1,198 lb-ft of torque, and acceleration from 0 to 60 mph in just 2.5 seconds.

The new R1T and R1S models, with ranges of up to 400 miles in conserve mode, begin deliveries this month with starting prices north of $115,000.

Mixed financial picture and new investments highlight Rivian’s volatility

While Rivian continues to face profitability challenges, posting a gross profit margin of -9.33%, its liquidity position remains strong, with a current ratio of 3.73.

The company has also secured a $1 billion equity investment from Volkswagen Group as part of a $5.8 billion technology joint venture, signaling strategic support despite current headwinds.

The investment is expected to support Rivian’s technology platform expansion, while the company also benefits from momentum in affiliated ventures.

Notably, Rivian-backed startup Also Inc. reached a $1 billion valuation following a $200 million funding round led by Greenoaks Capital.

As analysts continue to express skepticism over Rivian’s near-to-medium-term growth prospects, especially in light of changing regulatory conditions, the company’s future will likely depend on its ability to deliver on its next-generation models while managing cost structures and navigating a tougher macroeconomic environment.

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Kenvue, the Johnson & Johnson spinoff that owns brands such as Tylenol and Benadryl, announced Monday that Chief Executive Officer Thibaut Mongon has stepped down.

Kenvue shares were up by more than 6% during pre-market on the back of the announcement.

Board director Kirk Perry has been named interim CEO while the company undergoes a strategic review aimed at simplifying its operations and strengthening performance after a challenging quarter.

The change at the top comes amid ongoing struggles for the consumer health company, which has been contending with softer consumer demand, inventory reductions by retailers, and pressures from tariffs in key international markets.

Mongon’s departure follows the appointment of a new chief financial officer in May, when Amit Banati replaced Paul Ruh.

In a statement, Kenvue Chair Larry Merlo said the board has full confidence in the interim leadership and the direction the company is taking.

“We are confident that the steps we are taking put Kenvue on the right path to deliver both near- and long-term value creation for shareholders,” said Chair Larry Merlo.

Second-quarter results point to continuing slowdown

Preliminary second-quarter results released by the company on Monday underscore the challenges it faces.

Kenvue said it expects sales to decline 4% for the quarter ended June 29, with adjusted earnings per share forecast between 28 cents and 29 cents.

The company plans to issue its full second-quarter report and revise its full-year guidance on August 7.

While the expected earnings per share are broadly in line with analyst expectations compiled by LSEG, the sales decline reflects broader macroeconomic pressures affecting the consumer health sector.

In June, Mongon said the company was adjusting its pricing strategy and grappling with destocking by retailers, particularly in China.

The headwinds are expected to weigh on results into the second half of the year.

Company weighs portfolio changes and brand divestitures

As part of its broader strategic review, Kenvue is evaluating options to simplify its product portfolio.

People familiar with the matter told Reuters in June that the company is exploring the sale of several smaller skin health and beauty brands, including Clean & Clear, Maui Moisture, Neostrata, Bebe, and Dr.Ci:Labo.

Kenvue intends to retain more prominent brands such as Neutrogena and Aveeno, which remain central to its consumer health strategy.

The board has formed a dedicated committee to oversee the review process and is being advised by Centerview Partners and McKinsey & Company.

Merlo said the company is considering a wide range of potential alternatives, not only in terms of product lines but also operational structure.

The strategic pivot reflects Kenvue’s effort to reestablish growth momentum following a slow start to the year.

While the company has maintained a stable of well-known consumer products, it now faces pressure to trim underperforming segments and refine its focus in an increasingly competitive environment.

The results of the review, as well as guidance for 2025, are expected to become clearer when the company delivers its full quarterly earnings in early August.

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US markets opened red on Monday as the markets digest fresh tariff concerns from US President Donald Trump.

The S&P 500 opened 0.18% down at 6,248.12. The tech-heavy Nasdaq index slipped 0.17% to 20,537.03 while the Dow Jones Industrial Average was almost unchanged, as it traded 0.05% down at 44,351.11.

Tariff announcement sets cautious tone ahead of inflation data

Over the weekend, President Donald Trump announced that the United States will impose 30% tariffs on goods from the European Union and Mexico starting August 1.

The move has triggered ongoing discussions with leaders from both regions, who expressed their intention to continue negotiations this month in hopes of reaching a reduced tariff rate.

The tariff development comes just ahead of fresh inflation data due later this week, which will offer investors more clarity on how current tariff policies are impacting price levels and consumer demand.

Concerns are growing that higher import costs could stoke inflationary pressures, further complicating the Federal Reserve’s path forward.

Adding to market unease is the continued strain between the Trump administration and the Federal Reserve.

On Sunday, National Economic Council Director Kevin Hassett told ABC News that President Trump could remove Fed Chair Jerome Powell “if there’s cause.”

The comment follows weeks of criticism from Trump over Powell’s resistance to lowering interest rates and scrutiny over the costs of renovations at the Federal Reserve’s main building in Washington, D.C.

The central bank has pushed back against the allegations, defending the renovation as a necessary infrastructure investment.

Earnings season kicks off, and major stock movers

Investors are also gearing up for a wave of corporate earnings this week, with major banks like JPMorgan Chase set to report results beginning Tuesday.

Fastenal reported earnings on Monday and gained 5% after beating Wall Street expectations in its second-quarter results.

The industrial supply company reported earnings of 29 cents per share, edging past analyst forecasts of 28 cents, according to FactSet.

Electric vehicle maker Rivian Automotive fell 2.34% after Guggenheim downgraded the stock to neutral from buy.

Analyst Ronald Jewsikow pointed to softer-than-expected long-term sales expectations for Rivian’s upcoming R2 and R3 models as key concerns.

Kenvue, the maker of Neutrogena, gained briefly, although the stock has retreated from highs to trade at 1.24% up, following the resignation of CEO Thibaut Mongon.

The company announced a strategic review and said it is evaluating alternatives to streamline its business portfolio.

SolarEdge Technologies gained 5% after Barclays upgraded the solar firm to equal weight from underweight, citing a stronger growth outlook for 2024 and 2025 despite an expected market contraction in 2026.

Shares of nCino rose 3% after Baird upgraded the financial technology firm to outperform, highlighting encouraging management commentary and recent strategic initiatives.

Bitcoin-related equities also rallied, tracking gains in the cryptocurrency itself, which hit a new all-time high above $120,000.

Stocks such as Riot Platforms, CleanSpark, and MARA Holdings rose between 7% and 11%.

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