Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., July 1, 2025. (Reuters/Jeenah Moon)

- Nvidia surged 2%, becoming the first company to reach a $4 trillion valuation amid booming demand for AI infrastructure.
- Trump’s new 50% tariff on copper and threats targeting semiconductors stirred concerns but markets remained stable, expecting negotiation.
- Investors await Fed minutes and jobless data for clues on rate cuts, with September easing odds at 64%.
Share
Getting your Trinity Audio player ready...
|
Wall Street’s main indexes ticked up on Wednesday as Nvidia rocketed to a $4 trillion valuation, while investors took in their stride President Donald Trump’s latest tariff salvo.
Nvidia rose 2% and became the first company in the world to hit a $4 trillion market value, solidifying its position as one of Wall Street’s most favored stocks to tap in the ongoing surge in demand for AI technologies.
“It highlights the fact that Nvidia is sort of the backbone of artificial intelligence infrastructure and it is indicative of the revolution that’s going on in technology. I believe that there’s still more upside in the stock,” said Robert Pavlik, senior portfolio manager at Dakota Wealth.
At 11:25 a.m. ET, the Dow Jones Industrial Average rose 28.16 points, or 0.06%, to 44,268.92, the S&P 500 gained 15.29 points, or 0.24%, to 6,240.73 and the Nasdaq Composite was up 111.90 points, or 0.55%, to 20,530.36.
Six of 11 S&P sectors clocked gains, with the technology index rising 0.44% and communication services leading by 1.3%.
Trump ramped up his trade offensive on Tuesday, announcing a 50% tariff on copper and vowing to slap long-threatened levies on semiconductors and pharmaceuticals.
This came just a day after he jolted 14 trading partners with a fresh wave of tariff warnings, and said that at least seven new notices would drop later in the day.
Markets Relatively Stable
Markets’ reaction have been relatively stable with analysts noting that investors have become used to Trump’s pattern of saber-rattling on tariffs, and that the White House will potentially back down from its most aggressive threats.
With the deadline for new tariffs pushed to August 1, investors are betting that negotiations will defuse the risk of a full-blown trade war.
“The tariff issue continues to be this sort of seesaw and because of that back-and-forth, it obviously has given investors a bit of a calm,” said Philip Blancato, chief market strategist at Osaic Wealth.
The European Union said it could reach an outline trade agreement with the U.S. in the coming days.
Meanwhile, after last week’s record closes for the S&P 500 and the Nasdaq – buoyed by a surprisingly robust jobs report -investors are turning their attention to Thursday’s initial jobless claims for the next pulse check on the labor market.
Traders will also parse through the minutes from the Federal Reserve’s June meeting, due at 2:00 p.m. ET, for any hints about when policymakers might resume easing rates.
While a July rate reduction is almost fully ruled out, the odds of a September cut stand at about 64%, according to CME Group’s FedWatch tool.
Trump Tariff Actions Spark Concerns
Trump’s erratic tariff actions have sparked concerns about global growth and inflation, while also complicating the work of the Fed, which has adopted a wait-and-see approach on monetary policy.
Among stocks, AES Corp jumped 16.6% after Bloomberg reported that the power provider was exploring options, including a sale.
Health insurer UnitedHealth Group slipped 2.4% after the Wall Street Journal reported that the U.S. Department of Justice was investigating how the company deployed doctors and nurses to gather diagnoses that increased its Medicare payments.
Boeing advanced 4.1% as Susquehanna raised its price target after the planemaker on Tuesday reported that its airplane deliveries in June increased by 27% on a yearly basis.
Advancing issues outnumbered decliners by a 1.07-to-1 ratio on the NYSE and by a 1.05-to-1 ratio on the Nasdaq.
The S&P 500 posted 13 new 52-week highs and five new lows, while the Nasdaq Composite recorded 48 new highs and 34 new lows.
—
(Reporting by Pranav Kashyap in Bengaluru; Editing by Saumyadeb Chakrabarty and Maju Samuel)
RELATED TOPICS:
Trump Says He Will Order Voter ID Requirement for Every Vote
16 hours ago
Greta Thunberg Joins Flotilla Heading for Gaza With Aid
16 hours ago
Chicago Mayor Says Police Will Not Aid Federal Troops or Agents
16 hours ago
Post-War Gaza Plan Sees Relocation of Population, ‘Digital Token’ for Palestinian Land: Washington Post
16 hours ago
Labor Day Quiz: Do You Know What a Knocker-Upper Is?
16 hours ago
Judge Blocks Pillar of Trump’s Mass Deportation Campaign
1 day ago
Visalia Driver Arrested for DUI After Multiple Crashes and Pedestrian Injured
2 days ago
Fresno County Garnet Fire Grows to 18,748 Acres in Sierra National Forest
15 hours ago
Categories

Fresno County Garnet Fire Grows to 18,748 Acres in Sierra National Forest

Israel Pounds Gaza City Suburbs, Netanyahu to Convene Security Cabinet

Trump Says He Will Order Voter ID Requirement for Every Vote

Greta Thunberg Joins Flotilla Heading for Gaza With Aid

Chicago Mayor Says Police Will Not Aid Federal Troops or Agents

Post-War Gaza Plan Sees Relocation of Population, ‘Digital Token’ for Palestinian Land: Washington Post
