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U.S. Stocks End at All-Time Highs Fueled by Nvidia’s $4 Trillion Milestone and Delta’s Earnings

Investors shrugged off President Trump’s tariff threats, buoyed by AI sector strength coupled with robust early earnings.

A trader works on the New York Stock Exchange, where stock continue to march higher.
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A board above the trading floor of the New York Stock Exchange is shown in this image, Tuesday, July 1, 2025. (AP Photo/Richard Drew)

Overview

  • The S&P 500, Nasdaq Composite and Dow Jones Industrial Average each closed at record highs on July 10.
  • Nvidia’s shares climbed further after its market value topped $4 trillion for the first time.
  • Delta Air Lines beat second-quarter profit forecasts and reinstated its 2025 outlook, sending its stock up about 13%.
  • President Trump’s announcement of 50% tariffs on Brazilian imports and copper did not halt the equity rally.
  • Stock futures showed minimal movement as gold rose, crude oil slipped and long-term Treasury yields declined.