Lithium Universe (LU7:AU) has announced Settlement of Tranche 1 Share Placement
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Cobalt prices are surging after the Democratic Republic of Congo (DRC), the world’s largest producer, extended its export ban by three months in a bid to address global oversupply and stabilize plunging prices.
According to the Financial Times, cobalt prices on China’s Wuxi Stainless Steel Exchange rose nearly 10 percent after the DRC government announced the news over the weekend.
The ban — originally set to expire on Monday (June 23) — will now remain in effect until at least September.
The DRC’s Strategic Mineral Substances Market Regulation and Control Authority (ARECOMS) said the extension was necessary “due to the continued high level of stock on the market.”
The ban, first imposed in February of this year, was initially slated to last four months.
It came after a prolonged slump in cobalt prices, which have plummeted approximately 60 percent over the past three years, reaching a nine year low of US$10 per pound earlier this year.
The DRC produced 72 percent of the global cobalt mine supply in 2024, as per market intelligence firm Project Blue.
The export halt has already begun to ripple through international markets. In China, where most of the world’s cobalt is refined, prices for the metal and related company stocks spiked.
‘We are likely to see an initial price spike, but real pressure will be later in the year as intermediate stocks begin to dry up,’ Thomas Matthews, a battery materials analyst at CRU Group, told Bloomberg. ‘In short, strap yourselves in.’
The government of the DRC is attempting to tackle a persistent supply glut that has undermined the cobalt market since 2022. By curbing exports, Kinshasa is aiming to drive up prices, thereby increasing revenues from royalties and taxes on mining companies, while also incentivizing further investment in its domestic mining infrastructure.
ARECOMS said that a follow-up decision will be made before the new deadline in September, signaling that the ban could be modified, extended or lifted depending on market developments.
Reuters reported last week that Congolese officials are also exploring a quota-based system for cobalt exports, which would allow selected volumes to leave the country while still exerting downward pressure on global supply.
The proposal has garnered support from major industry players.
Glencore (LSE:GLEN,OTC Pink:GLCNF), the world’s second largest cobalt producer and a key stakeholder in Congolese mining operations, is backing the potential quota system. The Swiss trader declared force majeure on some of its cobalt supply contracts earlier this year due to the export restrictions, citing exceptional circumstances. Nevertheless, Glencore has managed to fulfill its obligations so far, thanks to pre-existing cobalt stockpiles located outside the DRC.
By contrast, CMOC Group (OTC Pink:CMCLF,HKEX:3993,SHA:603993), the China-based firm that overtook Glencore as the world’s top cobalt producer in 2024, has been lobbying for the ban’s complete removal.
CMOC, which processes a significant share of Congolese cobalt in China, argues that prolonged supply constraints could jeopardize downstream industries and global battery production.
A race against the clock
Despite initial cushioning from global stockpiles, experts warn that refined cobalt supply may soon run thin.
Transporting cobalt from the landlocked DRC to China’s processing hubs typically takes about 90 days. This means that if shipments do not recommence soon, shortages could begin to materialize in late Q3 or early Q4.
‘Stockpiles of cobalt outside the DR Congo will reach very low levels by the September 21 deadline if nothing else changes,’ Jack Bedder, founder of Project Blue, told the Financial Times.
Cobalt plays a vital role in lithium-ion batteries used in electric vehicles, consumer electronics and renewable energy storage. While many battery makers have begun shifting toward lower-cobalt or cobalt-free chemistries, demand for the metal remains strong — especially for high-performance applications.
Complicating the supply/demand dynamics is the fact that cobalt is often a by-product of copper mining.
With copper prices rebounding sharply — trading around US$9,600 per metric ton this week on the London Metal Exchange — producers have little incentive to curb overall output.
The move to extend the cobalt ban also coincides with the DRC’s recent efforts to assert greater control over its vast mineral wealth. The Central African nation is currently in discussions with the US over a potential minerals partnership aimed at strengthening supply chain security for clean energy technologies.
The export suspension is just the latest in a series of efforts by resource-rich countries to assert more control over key commodities. Similar moves have been seen in Indonesia, which banned nickel ore exports in 2020 to spur domestic processing, and in Chile, where the government is pushing for greater state participation in the lithium sector.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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One of the sharpest copper supply crunches in recent memory is rattling global commodities markets, as inventories at the London Metal Exchange (LME) plummet and the spot price soars.
Bloomberg reported that as of Monday (June 23), copper for immediate delivery was trading at a premium of US$345 per metric ton over three month futures, the widest spread since a record squeeze in 2021.
That dramatic price divergence reflects the market’s acute concerns over access to physical copper, with readily available inventories on the LME falling by around 80 percent this year alone.
Available stockpiles now cover less than a single day of global demand, amplifying anxiety across the supply chain.
Historic backwardation signals market distress
Backwardation in metals markets typically suggests that buyers are scrambling to obtain physical supply. In copper’s case, a combination of logistical, geopolitical and structural forces is driving the surge.
LME stockpiles have been rapidly drawn down as traders and manufacturers shift metal to the US in anticipation of potential trade barriers, spurred by US President Donald Trump’s tariff moves.
That migration has created acute shortages in Europe and Asia. Chinese smelters, responding to the price premium and slackening domestic demand, have begun exporting surplus copper to global markets. Yet those flows have not kept pace with the drawdowns, and China’s own inventories have also dwindled.
The LME had hoped recent regulatory interventions would prevent another disorderly squeeze like the one that disrupted the nickel market in 2022. Last week, the exchange enacted new rules mandating that traders with large front-month positions offer to lend those holdings if they exceed available inventories.
The so-called “front-month lending rule” is meant to discourage hoarding and promote liquidity.
However, recent copper trading data suggest that no single trader is behind the current squeeze. On Monday, the Tom/next spread — a one day lending rate — spiked to US$69 per metric ton.
This would only occur if no one entity held enough copper to trigger lending obligations under the new rules, indicating the tightness is likely the result of broad-based market dynamics rather than manipulation.
LME tightens oversight
As mentioned, the LME has begun cracking down on oversized positions across its metals complex.
In a June 20 statement, the exchange introduced a temporary, market-wide rule to manage large front-month exposures. Under the updated rules, traders holding positions in the front-month contract for a metal that exceed the total available exchange inventories — excluding any stock they already own — must offer to lend those positions at “level,” meaning they are required to roll them over to the next month at the same price.
The rule aims to rein in aggressive moves by commodities trading houses that have made deep inroads into metals markets over the past year. The LME emphasized in its release that recent market interventions are targeted, adding that the newly introduced rule offers a standardized approach.
Still, the unprecedented depth of copper’s backwardation — now extending years into the future — suggests that broader supply/demand dynamics are at play, beyond what position limits alone can control.
For manufacturers and industrial users, the squeeze presents a serious cost and planning risk. Many rely on the LME as a pricing and hedging mechanism. But when exchange inventories drop this low, even large players can face trouble sourcing metal to meet contract obligations. With exchange-based supply nearly exhausted, companies may increasingly turn to off-market deals or bilateral supply agreements — often at higher prices.
This shift weakens the LME’s role as a central clearinghouse for global copper, and raises questions about its ability to handle future shocks, especially as energy transition policies boost long-term demand for the metal.
Market watchers will also be looking to the next moves from Chinese exporters, US trade policy under Trump and the LME’s enforcement of its new regulations.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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Nvidia CEO Jensen Huang sold 100,000 shares of the chipmaker’s stock on Friday and Monday, according to a filing with the U.S. Securities and Exchange Commission.
The sales are worth nearly $15 million at Tuesday’s opening price.
The transactions are the first sale in Huang’s plan to sell as many as 600,000 shares of Nvidia through the end of 2025. It’s a plan that was announced in March, and it’d be worth $873 million at Tuesday’s opening price.
The Nvidia founder still owns more than 800 million Nvidia shares, according to Monday’s SEC filing. Huang has a net worth of about $126 billion, ranking him 12th on the Bloomberg Billionaires Index.
The 62-year-old chief executive sold about $700 million in Nvidia shares last year under a prearranged plan, too.
Nvidia stock is up more than 800% since December 2022 after OpenAI’s ChatGPT was first released to the public. That launch drew attention to Nvidia’s graphics processing units, or GPUs, which were needed to develop and power the artificial intelligence service.
The company’s chips remain in high demand with the majority of the AI chip market, and Nvidia has introduced two subsequent generations of its AI GPU technology.
Nvidia continues to grow. Its stock is up 9% this year, even as the company faces export control issues that could limit foreign markets for its AI chips.
In May, the company reported first-quarter earnings that showed the chipmaker’s revenue growing 69% on an annual basis to $44 billion during the quarter.
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Chris Schwegmann is getting creative with how artificial intelligence is being used in law.
At Dallas-based boutique law firm Lynn Pinker Hurst & Schwegmann, he sometimes asks AI to channel Supreme Court Chief Justice John Roberts or Sherlock Holmes.
Schwegmann said after uploading opposing counsel’s briefs, he’ll ask legal technology platform Harvey to assume the role of a legal mind like Roberts to see how the chief justice would think about a particular problem.
Other times, he will turn to a fictional character like Holmes, unlocking a different frame of mind.
“Harvey, ChatGPT … they know who those folks are, and can approach the problem from that mindset,” he said. “Once we as lawyers get outside those lanes, when we are thinking more creatively involving other branches of science, literature, history, mythology, that sometimes generates some of the most interesting ideas that can then be put, using proper legal judgement, in a framework that works to solve a legal problem.”
It’s just one example of how smaller businesses are putting AI to work to punch above their weight, and new data shows there’s an opportunity for much more implementation in the future.
Only 24% of owners in the recent Small Business and Technology Survey from the National Federation of Independent Business said they are using AI, including ChatGPT, Canva and Copilot, in some capacity.
Notably, 98% of those using it said AI has so far not impacted the number of employees at their firms.
At his trial litigation firm of 50 attorneys, Schwegmann said AI is resolving work in days that would sometimes take weeks, and said the technology isn’t replacing workers at the firm.
It has freed up associate lawyers from doing “grunt work,” he said, and also means more senior-level partners have the time to mentor younger attorneys because everyone has more time.
The NFIB survey found AI use varied based on the size of the small business. For firms with employees in the single digits, uptake was at 21%. At firms with fifty or more workers, AI implementation was at nearly half of all respondents.
“The data show clearly that uptake for the smallest businesses lags substantially behind their larger competitors. … With a little attention from all the relevant stakeholders, a more equal playing field is possible,” the NFIB report said.
For future AI use, 63% of all small employers surveyed said the utilization of the technology in their industry in the next five years will be important to some degree; 12% said it will be extremely important and 15% said it will not be important at all.
Some of the most common uses in the survey were for communications, marketing and advertising, predictive analysis and customer service.
“We still have the need for the independent legal judgment of our associate lawyers and our partners — it hasn’t replaced them, it just augments their thinking,” Schwegmann said. “It makes them more creative and frees their time to do what lawyers do best, which is strategic thought and creative problem solving.”
The NFIB data echoes a recent survey from Reimagine Main Street, a project of Public Private Strategies Institute in partnership with PayPal.
Reimagine surveyed nearly 1,000 small businesses with annual revenue between $25,000 and $50,000 and also found that a quarter had already started integrating AI into daily workflows.
Schwegmann said at his firm, AI is helping to even the playing field.
“One of the things Harvey lets us do is review, understand and incorporate and respond much faster than we would prior to the use of these kinds of AI tools,” he said. “No longer does a party have an advantage because they can paper you to death.”
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As the cycle of uncertainty continues to yield confusion than clarity, investors are again caught having to decide between taking an offensive and defensive posture in the market. The tough part in today’s market environment is how fast situations can shift. With headlines driving the action, sentiment can flip on a dime. So how do you position yourself when breaking news drives the market?
No one can predict how the stock market will play out in the coming months. But keeping an eye on the ratio of “offense” to “defense” stocks can offer some clues. This may not give you a decisive trade scenario, but it can provide a clearer context that can help you form a more bullish or bearish decisive bias.
For this article, let’s refer to the StockCharts Market Summary tool and zoom in on the Technology vs. Utilities ratio (XLK:XLU), which you can find in the Key Ratios – Offense vs Defense panel.
Why XLK:XLU Ratio Matters
This ratio compares the Technology Select Sector SPDR Fund (XLK) with the Utilities Select Sector SPDR Fund (XLU), both being sector proxies (see the one-year ratio chart below).
FIGURE 1. TECH VS UTILITIES RATIO: From a one-year perspective, utilities have outperformed tech.
The key question is whether capital will continue chasing innovation and growth or seek shelter in the relative stability of power grids and water systems. The answer, when it eventually comes, could signal the economy’s next move.
On the one-year chart, the XLK:XLU ratio shows an attempted recovery from a general decline. Note how the ratio percentage is negative. That’s because, over the past year, utilities have generally performed stronger than tech. But we’re seeing tech’s performance strengthening, and a sustained move toward (and eventually into) positive territory would suggest a stronger shift in bullish sentiment.
Notably, XLK and XLU are trading at their respective highs, with XLK already breaking above it. The question remains which sector may be topping or outpacing the other in a more sustained manner.
XLK Breaks Higher: A Bullish Signal?
Here’s a daily chart of XLK.
FIGURE 2. DAILY CHART OF XLK. A proxy for the tech sector, XLK has broken above resistance. The key question now is whether it can hold above this level and follow through, or if it’s topping out amid the current geopolitical uncertainties.
XLK’s surge from its April bottom, including the gap above $243, signals bullish momentum. It’s also trading above the 200-day simple moving average (SMA) while its StockCharts Technical Rank (SCTR) score has climbed above 76, signaling technical strength. Volume-wise, the Chaikin Money Flow (CMF) shows renewed strength in buying pressure, though CMF levels are down considerably since their highest levels in May.
XLU’s Rally: Strong, But Losing Steam
Compare XLK’s chart to XLU’s daily chart.
FIGURE 3. DAILY CHART OF XLU. The Utilities sector is challenging its highs, but is XLU losing steam, and will XLK eventually outpace it?
XLU is attempting to challenge its highs near the $82.50 range, though it hasn’t penetrated the top. Its SCTR score is also bullish at 77, though it’s not as convincing as that of XLK. XLU’s CMF reading also shows weakened buying pressure, as its levels are barely hovering above the zero line.
What These Charts Are Saying
Taken together, these charts aren’t about calling the next big trade. They’re about reading near-term sentiment and getting a feel for where investors think the economy is headed amid this tense geopolitical backdrop.
When both offense and defense are rising, it suggests uncertainty, with capital flowing in both directions. But when one sector pulls ahead, it may signal where institutional money is placing its bets. Whether you’re a short-term trader or long-term investor, tracking this ratio can help anchor your outlook, especially as global events continue to fuel market volatility.
Keep XLK and XLU on your ChartLists and continue to monitor this ratio, along with other comparative tools on the Market Summary page. Also, pay close attention to news developments.
At the Close
The XLK:XLU ratio might not give you the most comprehensive or surefire signal about investor sentiment, but it’s an important piece of the puzzle. It can help you see the bigger picture, which is a crucial step before placing any trades.
Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.
Join Dave as he shares how he uses the power of Fibonacci retracements to anticipate potential turning points. He takes viewers through the process of determining what price levels to use to set up a Fibonacci framework, and, from there, explains what Fibonacci retracements are telling him about the charts of NCLH, RTX, and the S&P 500
This video originally premiered on June 24, 2025. Watch on StockCharts’ dedicated David Keller page!
Previously recorded videos from Dave are available at this link.
The stock market has been on quite the rollercoaster of late, thanks to news headlines. But investors seem to have shrugged off the past weekend’s geopolitical tensions, at least for now.
On Tuesday, we saw a surge of enthusiasm. Investors were diving back into stocks and selling off their oil and precious metals holdings. Last week, oil prices spiked amid Middle East tensions, but have now fallen to pre-conflict levels. After what felt like a few weeks of the market moving sideways, maybe the stock market got the catalyst it needed to push the major indexes out of their trading range. A ceasefire between Israel and Iran was enough to get things going.
Stocks Get a Boost
Tuesday’s positive tone helped move the stock market higher, with the S&P 500 ($SPX) closing up 1.1%, finally breaking above the top of its trading range. The Nasdaq Composite ($COMPQ) followed suit, with both indexes within spitting distance of their all-time highs. The Nasdaq 100 ($NDX), which closed 1.53% higher, hit a new all-time high. And let’s not forget the Dow Industrials ($INDU), which is also making a strong attempt to push through key resistance levels, even though it’s a little bit further from its all-time high.
Given the Nasdaq 100’s strong performance on Tuesday, it’s worth taking a closer look at the daily chart of the Invesco QQQ Trust (QQQ).
FIGURE 1. DAILY CHART OF QQQ. The ETF hit a new high on June 24 with a potential Golden Cross. If the relative strength index and percentage price oscillator confirm upside momentum, QQQ could rise higher.Chart source: StockCharts.com. For educational purposes.
Besides hitting a new high, note that the 50-day simple moving average (SMA) crossed above the 200-day SMA. This is referred to as a Golden Cross and can be an early sign of bullishness. While it’s not a guaranteed “green light” at such an early stage, it’s worth watching to see if the 50-day SMA continues to stay above the 200-day SMA.
The relative strength index (RSI) is getting closer to overbought territory. If it crosses above 70, it would be another sign of strong bullish momentum. Similarly, the percentage price oscillator (PPO) needs to move into positive territory, meaning the shorter moving average should cross above the longer one. They’re close, but remember these are lagging indicators, meaning they’ll confirm trends that are already underway. Thus, if the 50-day SMA remains above the 20-day SMA, RSI crosses above 70, and PPO confirms upside momentum, it would confirm further upside move in QQQ.
Another interesting point to note: The Cboe Volatility Index ($VIX) closed at 17.48, which suggests investors are relatively complacent. The VIX was relatively subdued during the Middle East conflict, hitting a high of around 22. With less fear, the charts of the major indexes look like they’re going to hit fresh highs. On Tuesday, Technology, Financials, and Communication Services were the top-performing sectors.
Tech Regains Lead
The Technology sector was powered by semiconductors, which have been driving the market lately. The VanEck Vectors Semiconductor ETF (SMH) has broken above the range it’s been trading within for the last couple of weeks and is now close to its 52-week high (see daily chart of SMH below).
FIGURE 2. DAILY CHART OF SMH. Semiconductors have been driving the stock market lately and broke out above the range from the last couple of weeks.Chart source: StockCharts.com. For educational purposes.
Looking at individual stocks, NVIDIA Corp. (NVDA) was the most actively traded S&P 500 stock. A handful of big names are hitting new all-time highs, too; this includes Broadcom, Inc. (AVGO), Cisco Systems, Inc. (CSCO), International Business Machines (IBM), JP Morgan Chase (JPM), Microsoft Corp. (MSFT), and Netflix Inc. (NFLX), just to name a few. For the complete list, check out the “New Highs” panel in your StockCharts Dashboard; you’ll likely notice a significant percentage of tech stocks on the list.
The positive price action on Tuesday suggests investors are rotating into growth stocks, which signals further upside moves in the S&P 500 and Nasdaq stocks. Here’s a more encouraging sign: even the S&P 500 Equal-Weighted Index ($SPXEW) is breaking out and moving towards its highs. This indicates that the market’s strength isn’t limited to a few big, heavily-weighted growth stocks; participation is much broader.
Travel Stocks Get a Lift
Beyond tech stocks, consumer discretionary stocks also traded higher. The top three performers in the Consumer Discretionary sector were Carnival Corp. (CCL), Norwegian Cruise Lines Holdings (NCLH), and Caesars Entertainment (CZR). The MarketCarpet for the Consumer Discretionary sector below shows travel stocks were strong performers on Tuesday.
FIGURE 3. MARKETCARPET FOR THE CONSUMER DISCRETIONARY SECTOR. The table on the right shows CCL, NCLH, and CZR were the top performers.Image source: StockCharts.com. For educational purposes.
CCL’s stock price gapped up after the company reported strong earnings and guidance. An increase in cruise line bookings indicates consumer sentiment is strong. As a result, cruise lines and travel stocks traded higher. This goes against June’s Consumer Confidence report, which showed weakening confidence. It didn’t seem to impact the market, but it may come back to bite us depending on what news headlines we are likely to receive on Wednesday.
Closing Position
Tuesday’s price action suggests that equities are back on their bullish track after a period of consolidation. Will the upside move hold, or will a negative news headline bring the bears back into the market?
This is where your StockCharts tools come in handy! Keep a close eye on the performance of the major indexes and other helpful indicators such as the RSI and PPO. By using these tools, you can stay on top of the stock market and make investment decisions with greater confidence.
Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.
A top NCAA policy-making group on Tuesday, June 24 voted to propose that the association change its rules to allow Division I athletes and athletics staff members to bet on professional sports events, the association announced.
The move by the NCAA Division I Council will not become final until the group concludes meetings on June 25 and will not take effect unless similar governance groups representing Division II and Division III approve the move later this summer. In addition, it will require formal adoption by the Council in October. This past April, the Division III Management Council “took action to support, in concept, noncontroversial legislation deregulating betting on professional sports.”
At that time, by a 21-1 vote, it directed the Council — a panel mainly comprising athletics directors — to: “adopt legislation to deregulate the prohibition on wagering on professional sports and directed the NCAA staff to develop concepts for the appropriate committees to consider regarding a safe harbor, limited immunity or reduced penalties for student-athletes who engage in sports wagering but seek help for problem gambling.” And the Board of Directors has the authority to overrule the Council.
Current NCAA Division I rules say athletes, coaches and administrators cannot “knowingly participate in sports wagering activities or provide information to individuals involved in or associated with any type of sports wagering activities concerning intercollegiate, amateur or professional athletics competition.”
In 2023, 25 athletes from Iowa State and Iowa were arrested for illegal sports betting. Some of those athletes were alleged to have bet on college games. Many of the criminal charges were based on underage betting.
The NCAA’s announcement said that under the Council’s recommendation, college athletes and staff members would continue to be prohibited from betting on college sports and from sharing information with bettors about college sports events. The NCAA also said it would continue to keep NCAA championships free from ‘advertising and sponsorships associated with betting.’
Many college sports coaches’ and athletics directors’ contracts with schools expressly prohibit their involvement with sports betting of any kind. For example, Alabama’s agreement with football head coach Kalen DeBoer states that he is barred from: ‘Soliciting, placing, or accepting … a bet or wager on any intercollegiate or professional athletic contest whether through a bookmaker, a pool, online, or any other person, means, or method, or permitting, encouraging, or condoning such acts by any member of (his) coaching staff, any student-athlete, or any other person; or:
‘Furnishing … information or data relating in any manner to football or any other sport or to any student-athlete to any individual known to (him) to be or whom (he) should reasonably know to be a gambler, bettor, or bookmaker, or an agent of any such person, or the consorting or associating by (DeBoer) with such persons;…’
The Council’s move comes against the backdrop of a proliferation of legalized sports betting in the United State since the Supreme Court struck down federal limits on the activity in May 2018. It is now legal in 38 states and the District of Columbia, according to the American Gaming Association.
‘NCAA rules prohibiting sports betting at all levels were written and adopted at a time when sports gambling was largely illegal nationwide,’ Illinois athletics director and Division I Council chair Josh Whitman said in the NCAA’s statement. ‘As betting on sports has become more widely accepted across the country, Division I members have determined that further discussion of these sports betting rules is warranted, particularly as it relates to the potential distinctions between betting on professional versus collegiate sports. Throughout our discussions, the council has remained focused on student-athlete wellness and educating student-athletes about the risks and potentially harmful impacts of betting.’
NCAA President Charlie Baker has been lobbying lawmakers across the country to ban prop bets on college sports events.
In April, the NCAA and Genius Sports announced the extension of a contract under which the firm provides data to sportsbooks. Under agreement, the firm agreed ‘to strengthen integrity protections and promote responsible betting practices, including limiting risky bet types, ensuring compliance and safeguarding student-athletes,’ according to an announcement by the firm.
This story has been updated with new information
This post appeared first on USA TODAY
As the NBA calendar crosses off another day and moves on from the NBA Finals – congratulations to Oklahoma City Thunder, and even though the Indiana Pacers came up short, it was enjoyable to watch their commitment – it’s time for the NBA draft.
The Dallas Mavericks, who are still trying recover from trading Luka Doncic, have the No. 1 pick in the first round Wednesday, June 25 (8 p.m., ESPN) and by all accounts, they will select Duke one-and-done forward Cooper Flagg.
Rutgers’ Dylan Harper is the projected No. 2 pick by the San Antonio Spurs, and from there, Baylor’s VJ Edgecombe, Rutgers’ Ace Bailey, Texas’ Tre Johnson, Oklahoma’s Jeremiah Fears and Duke’s Khaman Maluach and Kon Knueppel are in the top-10 mix. All were freshmen last season.
Here’s a look at USA TODAY Sports’ latest NBA mock draft :
(Age listed is age at time of the draft; for U.S. college players, height (without shoes) and weight taken at NBA draft combine)
2025 NBA mock draft
1. Dallas Mavericks: Cooper Flagg, Duke
- Freshman, guard-forward, 6-7¾ , 221, 18 years old
- 2024-25 stats: 19.2 ppg, 7.5 rpg, 4.2 apg, 1.4 spg, 1.4 bpg, 48.1% FG, 38.5% 3PT, 84% FT
The do-it-all young star led the Blue Devils in scoring, rebounding, assists and steals. Flagg has outstanding footwork, especially in the low post. He can use either hand on shots in the paint, knows how to run plays, can hit catch-and-shoot 3s and is an active weakside defender. Flagg, who added more muscle since the start of the year, is a physical player who initiates contact, is confident and plays with force when necessary. He led Duke to an impressive season, which includes the ACC regular-season title, ACC tournament title and Final Four appearance. He had 30 points, seven assists and six rebounds in a regional semifinal victory against Arizona and 16 points and nine rebounds in a regional final against Alabama. Flagg had 27 points, seven rebounds, three blocks and two steals in a Final Four loss to Houston.
2. San Antonio Spurs: Dylan Harper, Rutgers
- Freshman, guard, 6-4½ , 213, 19
- 2024-25 stats: 19.4 ppg, 4.6 rpg, 4.0 apg, 1.4 spg, 48.4% FG, 33.3% 3PT, 75% FT
The lefty stroke will remind some of Jalen Brunson, but Harper has far more size at 6-6 and tremendous length with a wingspan of 6-foot-10. Harper’s best asset at the next level might be his versatility to run point and play off the ball. In Rutgers’ lone Big Ten tournament game, Harper had 27 points (9-for-21 shooting), eight rebounds, eight assists, two steals and two blocks in a double-overtime loss to Southern California.
3. Philadelphia 76ers: VJ Edgecombe, Baylor
- Freshman, guard, 6-4, 193, 19
- 2024-25 stats: 15.0 ppg, 5.6 rpg, 3.2 apg, 2.1 spg, 43.6% FG, 34% 3PT, 78.2% FT
The Bahamian native has displayed his athleticism, has shown he can be explosive and has an elite knack for steals. He will be able to contribute at the NBA level and can be aggressive at the point of attack. The freshman is a high-level off-ball scorer but can improve when it comes to on-ball scoring. Edgecombe logged significant minutes at the end of the season. He had 16 points, six rebounds and one steal in a NCAA Tournament second-round loss to Duke.
4. Charlotte Hornets: Ace Bailey, Rutgers
- Freshman, guard-forward, 6-7½ , 202, 18
- 2024-25 stats: 17.6 ppg, 7.2 rpg, 1.3 apg, 1.3 bpg, 46% FG, 34.6% 3PT, 69.2% FT
Bailey is a hyper-athletic wing with length and size coming into a league that prioritizes players built exactly the way he is with exactly the skill set he has: an effortless and reliable shot and an attack-first mentality with an ability to finish at the rim. Needs to improve as a playmaker on the pass and free throws. But even when offense isn’t easy, he remains active on defense. He had 17 points, seven rebounds, three steals and one block in season-ending loss to USC. He is the only U.S. player who has not worked out for any teams, and his approach to the draft could impact where he is drafted.
5. Utah Jazz: Tre Johnson, Texas
- Freshman, guard, 6-4¾, 190, 19
- 2024-25 stats: 19.9 ppg, 3.1 rpg, 2.7 apg, 42.7% FG, 39.7% 3PT, 87.1% FT
Johnson is a natural shooter and scorer. He does well when scoring on the move and is a decent playmaker for his size. He still needs to work on his ability to make plays for others. He must also work on his strength and his explosiveness in order to assert himself as a finisher at the rim. He had three 30-point games in the past two months, including 39 against Arkansas on Feb. 26. He had 23 points and six rebounds in an NCAA Tournament loss to Xavier.
6. Washington Wizards: Jeremiah Fears, Oklahoma
- Freshman, guard, 6-2½, 180, 18
- 2024-25 stats: 17.1 ppg, 4.1 apg, 4.1 rpg, 1.6 spg, 43.4% FG, 28.4% 3PT, 85.1% FT
Solid start to his freshman season; quick on the dribble; has strength going to the rim and can finish; operates well in the pick-and-roll as a scorer and passer; needs to improve his 3-point shot but potential is there. Fears scored a season-high 31 points and added five assists and four rebounds in a win against ranked Missouri. Fears had a strong SEC tournament, producing 29 points, six rebounds and five steals plus five turnovers in a victory against Georgia and 28 points, five assists, four rebounds and three steals (just one turnover) in a loss to Kentucky. He generated 20 points, five rebounds and four assists in a NCAA Tournament first-round loss to UConn.
7. New Orleans Pelicans: Kon Knueppel, Duke
- Freshman, guard-forward, 6-5, 219, 19
- 2024-25 stats: 14.4 ppg, 4.0 rpg, 2.7 apg, 47.9% FG, 40.6% 3PT, 91.4% FT
He can ignite an offense with his 3-point shot, thanks to an efficient motion, seemingly always ready to receive the ball in his shooting pocket. He can also lace shots from midrange, take care of the ball and is money on free throws. In the ACC tournament, Knueppel averaged 21 points (28 against Georgia Tech) and shot 48.6% from the field, stepping up with Flagg injured. He averaged 20.5 points and shot 11-for-22 from the field (4-for-6 on 3s) in two regional games. He had 21 points, five rebounds and five assists in an Elite Eight victory against Alabama, and 16 points and seven rebounds in a Final Four loss to Houston.
8. Brooklyn Nets: Khaman Maluach, Duke
- Freshman, center, 7-0½, 253, 18
- 2024-25 stats: 8.6 ppg, 6.6 rpg, 1.3 bpg, 71.2% FG, 76.6% FT
Playing about 20 minutes per game, Maluach is a mobile big who excels in pick-and-rolls and has the hands to catch lobs for easy dunks; soft touch at the rim; shot-blocker/rim protector; active on the offensive glass; will get stronger and has a great aptitude for the game, learning concepts quickly. In four NCAA Tournament games, Maluach, who played for South Sudan at the 2024 Paris Olympics, averages 11.5 points, 4.2 rebounds, 2.0 blocks and shoots 86.9% from the field (20-for-23) and had 14 points and nine rebounds in Elite Eight victory against Alabama. He struggled to make an impact in the Final Four loss to Houston with just six points and no rebounds.
9. Toronto Raptors: Kasparas Jakucionis, Illinois
- Freshman, guard, 6-4¾, 205, 19
- 2024-25 stats: 15.0 ppg, 5.7 rpg, 4.7 apg, 44% FG, 31.8% 3PT, 84.5% FT
Jakucionis is a playmaker – a scorer and passer. He has range with a nice 3-ball, can shoot off the dribble from deep, including on step-back 3s, and looks for an open teammate when he draws multiple defenders. Jakucionis sees the court well with savvy passes and likes to get to the rim for layups. But he can be turnover-prone. He struggled offensively at the end of the season, shooting 32.5% from the field and committing 24 turnovers in the final four games. He had 16 points, 10 assists and nine rebounds in a first-round NCAA Tournament victory against Xavier.
10. Houston Rockets (traded to Suns for Kevin Durant): Derik Queen, Maryland
- Freshman, center, 6-9¼, 248, 20
- 2024-25 stats: 16.5 ppg, 9.0 rpg, 1.9 apg, 1.1 spg, 1.1 bpg, 52.6% FG, 76.6% FT
An active, physical big man, Queen has a soft touch around the rim with either hand but has a power game, too. He can run the court and handle the basketball well for a power forward-center. He is another potential first-round pick with good hands and footwork and has the mechanics to become a shooter who can stretch the floor. Queen had 27 points, five rebounds and two steals in a Sweet 16 loss to eventual champion Florida.
11. Portland Trail Blazers: Carter Bryant, Arizona
- Freshman, forward, 6-6½, 215, 19
- 2024-25 stats: 6.5 ppg, 4.1 rpg, 1.0 apg, 1.0 bpg, 46% FG, 37.1% 3PT, 69.5% FT
The athletic forward provides a solid combination of strength and fluidity. He has lateral quickness to stay in front of the ball and the ability to block shots. He can still improve on his technique as a finisher and in scoring efficiency. He will get an increased opportunity to impress scouts and executives at the draft combine if he enters the draft. Bryant scored 12 points and collected five rebounds and three blocks in 20 minutes in a victory against Akron in the NCAA Tournament.
12. Chicago Bulls: Noa Essengue, Ratiopharm Ulm (Germany)
- Forward, 6-10, 198, 18
- 2024-25 stats: 10.8 ppg, 4.8 rpg, 1.1 apg, 51.6% FG, 27% 3PT, 70.5% FT
The next forward with elite finishing ability to come out of France, Essengue figures to be more of a developmental prospect, but his size, instincts at the rim and plus-defensive ability could make him a star if he bulks up.
13. Atlanta Hawks: Collin Murray-Boyles, South Carolina
- Sophomore, forward, 6-6½, 239, 20
- 2024-25 stats: 16.8 ppg, 8.3 rpg, 2.4 agp, 1.5 spg, 1.3 bpg, 58.6% FG, 26.5% 3PT, 70.7% FT
Although he’s a bit undersized for a power forward, Murray-Boyles plays with intense effort and determination, which will very quickly please his NBA coaches. He also has plenty of strength to finish at the rim and was the SEC’s No. 3 rebounder. Murray-Boyles had 35 points and seven rebounds against Arkansas late in the regular season and had 20 points and 12 rebounds in a loss to Arkansas in the SEC tournament.
14. San Antonio Spurs: Egor Demin, BYU
- Freshman, forward, 6-8¼, 199, 19
- 2024-25 stats: 10.3 ppg, 5.4 apg, 3.8 rpg, 1.2 spg, 41% FG, 27.1% 3PT, 67.5% FT
The Russian is a playmaker who can make quick decisions and facilitate for others. Demin is the size of a wing player but has guard-like skills. On defense, he uses his length to his advantage while forcing turnovers and being active in passing lanes. His shooting efficiency is a concern. Demin had difficulty with his offense as the season progressed. He had just three points with four turnovers, three assists and three rebounds in a Big 12 conference tournament victory against Iowa State and six points on 2-for-9 shooting (1-for-7 on 3s) with four assists and five turnovers in a conference tournament loss to Houston. In three NCAA tournament games, he averaged 13.7 points, 5.7 assists and 4.7 rebounds and was 15-for-35 from the field.
15. Oklahoma City Thunder: Asa Newell
- Freshman, forward, 6-9, 224, 19
- 2024-25 stats: 15.4 ppg, 6.9 rpg, 1.0 spg, 1.0 bpg, 54.3% FG, 29.2% 3PT, 74.8% FT
Based off of his size, Newell wouldn’t appear to be as quick and fluid as he is, which should make him an instant threat in pick-and-roll situations. He was one of the lone bright spots for the Bulldogs in a loss against No. 1 Auburn with a team-high 20 points. His scoring dipped at the end of the regular season, however, he had 20 points and eight rebounds in a first-round NCAA Tournament loss to Gonzaga.
16. Memphis Grizzlies (from Orlando): Joan Beringer, KK Cedevita (Adriatic League)
- Forward-center, 6-10, 230, 18
- 2024-25 stats: 5.0 ppg, 4.6 rpg, 1.4 bpg, 61.5% FG, 58.4% FT
Beringer has gained traction among NBA scouts and executives as a mobile big man who can run the pick-and-roll as a screener on offense and guard the pick-and-roll. He doesn’t have a lot of experience but his potential, especially as a rim protector, has made him a first-round prospect. Another player who has improved throughout the season.
17. Minnesota Timberwolves: Jase Richardson, Michigan State
- Freshman, guard, 6-0½, 178, 19
- 2024-25 stats: 12.1 ppg, 3.3 rpg, 1.9 apg, 49.3% FG, 41.2% 3PT, 83.6% FT
Richardson improved as the season progressed and turned into the Spartans’ steady hand with the basketball as a shooter (inside and out) and facilitator. He is an active defender with surprising bouts of athleticism. He also has a knack for collecting rebounds, big plays and poise under pressure. He had an up-and-down NCAA Tournament in four games – 5-for-11 shooting and 15 points against Bryant, 1-for-10 shooting against New Mexico, 20 points on 6-for-8 shooting against Ole Miss, and 4-for-13 shooting against Auburn.
18. Washington Wizards: Thomas Sorber, Georgetown
- Freshman, forward-center, 6-9¼, 263, 19
- 2024-25 stats: 14.5 ppg, 8.5 rpg, 2.4 apg, 2.0 spg, 53.2% FG, 72.4% FT
The standout freshman required surgery to repair a foot injury suffered Feb. 15 and missed the rest of the season. That could alter his plans for the draft, but Sorber is a stellar inside threat who’s just as comfortable cutting to the basket on pick-and-rolls as he is backing down opponents. His rebounding and rim protection will make him an asset, as he continues to grow into his frame.
19. Brooklyn Nets: Liam McNeeley, UConn
- Freshman, forward, 6-6¾, 215, 19
- 2024-25 stats: 14.5 ppg, 6.0 rpg, 2.3 apg, 38.1% FG, 31.7% 3PT, 86.6% FT
What McNeeley may lack in fluid athleticism, he more than makes up for with a smooth, natural shot and knack for drawing fouls and getting to the free throw line. He also has a quick release and plenty of range to suggest that he should get early minutes. He bounced back since suffering an ankle injury New Year’s Day that had sidelined him for a few weeks. McNeeley struggled with his shot at times down the stretch. In a Big East tournament loss to Creighton, McNeeley had 13 points on 6-for-20 shooting (0-for-5 on 3-pointers), and in his final eight games before the NCAA Tournament, he shot 34.1% from the field and 28.2% on 3s. In two NCAA Tournament games, he was 8-for-29 from the field, including 3-of-16 on 3s.
20. Miami Heat: Nolan Traore, Saint-Quentin (France)
- Guard, 6-4, 175, 19
- 2024-25 stats: 12 ppg, 4.8 apg, 1.9 rpg, 40.9% FG, 31.4% 3PT, 72.8% FT
Traore is a point guard who can score and pass and has court awareness but also a propensity for bad turnovers. He’s quick, can get to the rim and is comfortable taking his defender off the dribble. Needs to work on his shooting efficiency, especially on 3s. His brother, Armel, was on a two-way contract with the Los Angeles and South Bay Lakers before being waived in February.
21. Utah Jazz: Nique Clifford, Colorado State
- Fifth-year graduate season, guard, 6-5¼, 202, 23
- 2024-25 stats: 18.9 ppg, 9.6 rpg, 4.4 apg, 1.2 spg, 49.6% FG, 37.7% 3PT, 77.7% FT
Clifford is a versatile wing who does a lot of things – scoring, rebounding, passing and defending. He has a quick burst on drives to the basket and can finish with force or finesse. He logged big minutes for Colorado State and was excellent in the Rams’ final six games before the NCAA tournament, posting 25.3 points, 7.8 rebounds, 5.2 assists and 1.5 steals and shooting 60% from the field, including 54.8% on 3s. He had 36 points against Boise State at the end of the regular season and recorded two double-doubles in the Mountain West tournament. Clifford had 21 points, seven rebounds, six assists and two blocks in an NCAA tournament second-round loss to Maryland.
22. Atlanta Hawks: Cedric Coward, Washington State
- Senior, guard, 6-5¼, 213, 21
- 2024-25 stats: 17.7 ppg, 7.0 rpg, 3.7 apg, 55.7% FG, 40% 3PT, 83.9% FT
Coward started his college career at Division III Willamette University, then transferred to Eastern Washington and then switched to Washington State. He played in just six games in 2024-25 with a shoulder injury ending his senior season in November. Coward has great size for a guard, is solid on catch-and-shoot 3s and has the ability to get to the rim.
23. New Orleans (from Indiana): Danny Wolf, Michigan
- Junior, forward-center, 6-10½, 252, 21
- 2024-25 stats: 13.2 ppg, 9.7 rpg, 3.6 apg, 1.4 bpg, 49.7% FG, 33.6% 3PT, 59.4% FT
The Yale transfer turned into a first-round selection thanks to his fluid scoring and play-making portfolio in the package of a 7-foot stretch big. Wolf played point guard at times this season for the Wolverines just like he played center. His handles make him a threat as the initiator in pick-and-roll actions and his range should translate to the NBA. Wolf had 21 points and 14 rebounds against Maryland in the Big Ten tournament semifinals and shot 52.9% from the field as the Wolverines won the conference tourney. He had 20 points and six rebounds in a NCAA regional semifinals loss to Auburn.
24. Oklahoma City Thunder: Will Riley, Illinois
- Freshman, forward, 6-8¼, 186, 19
- 2024-25 stats: 12.6 ppg, 4.1 rpg, 2.2 apg, 43.2% FG, 32.6% 3PT, 72.4% FT
Great size for a shooting guard who can make 3s and find open teammates. Like many, looks for offensive rebounds. His shot is a work in progress but the mechanics are there and he improved as a shooter and scorer as the season progressed. He shot 37-for-72 (51.4%) from the field and averaged 16.3 points in the Illini’s final six games.
25. Orlando Magic: Rasheer Fleming, Saint Joseph’s
- Junior, forward, 6-8¼, 232, 20
- 2024-25 stats: 14.75 ppg, 8.5 rpg, 1.5 bpg, 1.4 spg, 1.3 apg, 53.1% FG, 39% 3PT, 74.3% FT
Fleming is a mobile forward who plays a physical game and has strong footwork to finesse his way around defenders. He likes to get easy buckets in transition, his 3-point percentage in nearly five attempts per game is encouraging and he is valuable in pick-and-rolls as the screener. Defensively, he deflects passes and can protect the rim. Fleming averaged 18.8 points and 7.7 rebounds and shot 58.9% in the last six regular-season Atlantic 10 Conference contests.
26. Brooklyn Nets: Maxime Raynaud, Stanford
- Senior, center, 7-0¼, 237, 22
- 2024-25 stats: 20.2 ppg, 10.6 rpg, 1.7 apg, 1.4 bpg, 46.7% FG, 34.7% 3PT, 77% FT
Born in Paris, Raynaud spent four seasons at Stanford and was first-team All-ACC his senior season. He can make 3s, rebound, protect the rim – the easy comparison is Oklahoma City’s Chet Holmgren. Raynaud works well in the pick-and-roll, runs the floor well, sees the court and can play in the low post.
27. Brooklyn Nets: Walter Clayton Jr., Florida
- Senior, guard, 6-2, 199, 22
- 2024-25 stats: 18.3 ppg, 4.2 apg, 3.7 rpg, 1.2 spg, 44.8% FG, 38.6% 3PT, 85.7% FT
Named the Most Outstanding Player of the Final Four, Clayton had 34 points in the national semifinals against Auburn and 11 points, seven assists and five rebounds in the championship victory against Houston. He also scored 30 points in a regional final against Texas Tech and was 21-for-42 from the field in the Gators’ final three games. Has range on 3-point shots and can shoot off the dribble or pass but needs to improve as a playmaker and defender.
28. Boston Celtics: Hugo Gonzalez, Real Madrid (Spain)
- Guard-forward, 6-7, 207, 19
- 2024-25 stats: 3.2 ppg, 1.7 rpg, 41% FG, 28.1% 3PT, 73.9% FT
One of Europe’s top young NBA prospects, Gonzalez is a versatile wing with the ability to score inside and out. He can handle the basketball, pass and is a surprising shot-blocker. He’s still raw.
29. Phoenix Suns: Drake Powell, North Carolina
- Freshman, guard-forward, 6-5¼, 200, 19
- 2024-25 stats: 7.4 ppg, 3.4 rpg, 1.1 apg, 48.3% FG, 37.9% 3PT, 64.8% FT
Active on both ends of the court as a shot-blocker and physical and versatile defender, and as a player who likes to run the court, launch catch-and-shoot 3s and go one-on-one in the halfcourt. Playing on a deep team, especially on the perimeter, Powell doesn’t possess eye-popping offensive stats but his shooting stats reveal his potential. Was an efficient scorer in limited opportunities and can be a solid rebounder from the perimeter.
30. Los Angeles Clippers: Ben Saraf, Ratiopharm Ulm (Germany)
- Guard, 6-6, 200, 19
- 2024-25 stats: 12.2 ppg, 4.3 apg, 2.6 rpg, 1.2 spg, 45.5% FG, 28.6% 3PT, 72.7% FT
He’s just as comfortable knocking down a step-back jumper, finding creases in the paint and dishing the ball with excellent vision. He may need some time to develop as he adjusts to NBA athletes, but his length and size at point guard will make him an intriguing prospect.
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