A NVIDIA logo is pictured on its facility at the High-tech park at Yokne’am, in northern Israel on July 9, 2025.
| Photo Credit: Reuters
Wall Street stocks bounced early Wednesday (July 9, 2025) following two downcast sessions, shrugging off U.S. President Donald Trump’s latest tariff threats as Nvidia surged to a fresh record.
After Congress gave Mr. Trump a big win last week with his fiscal package, the Republican’s aggressive trade posture has returned with a vengeance this week.
On Tuesday (July 8, 2025), he added threatened levies on copper and pharmaceuticals to a laundry list of countries warned of higher tariffs.
But stocks pushed higher nonetheless, with Nvidia jumping 2.5% to top $4 trillion in market capitalisation on investor bullishness over Artificial Intelligence (AI) growth.
About 30 minutes into trading, the Dow Jones Industrial Average was up 0.5% at 44,477.06.
The broad-based S&P 500 advanced 0.7% to 6,266.23, while the tech-rich Nasdaq Composite Index rose 1.1% to 20,586.42.
Briefing.com analyst Patrick O’Hare said investors are not “overly concerned” about Mr. Trump’s latest tariff threats.
“The assumption, it seems, is that better terms with trading partners of economic consequence will get worked out and that the tariffs won’t be as onerous as advertised from a growth or inflation standpoint,” Mr. O’Hare wrote in a note.
Among individual companies, Merck rose 2.5% after announcing it reached a deal to acquire Verona Pharma, a biopharmaceutical company focused on respiratory diseases for about $10 billion. Verona jumped 20.7%.
Later Wednesday (July 9, 2025), markets will digest minutes from the most recent Federal Reserve meeting, at which central bankers kept interest rates unchanged.
Published – July 09, 2025 08:01 pm IST
