US EditionASX Closes Higher; Bitcoin Hits Record High
AUSTRALIA, JUL 9 – Nvidia became the first company to briefly exceed a $4 trillion valuation as the S&P 500 rose amid ongoing concerns over new tariffs on multiple countries.
- The S&P 500 rose 0.6% and Nvidia briefly traded above a $4 trillion valuation despite new tariffs announced by President Trump.
- Earlier this month, President Trump sent letters imposing up to 30% duties on several countries, including a 50% tariff on Brazil, amid trade tensions, according to statements.
- Market data shows the S&P 500 increased 0.6% and the Nasdaq gained 0.94%, signaling continued risk appetite despite new tariffs announced by Trump.
- The market pause follows the August 1 tariffs, with major US banks set to report earnings next week, providing a brief respite amid ongoing trade tensions.
- FactSet forecasts a 5% annual second-quarter earnings gain for S&P 500 companies, as Nvidia’s market cap has soared from $1 trillion in mid-2023 to $4 trillion today.
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Asian Stocks to Rally After Tech Lifts S&P 500: Markets Wrap
US equity-index futures retreated along with the dollar after President Donald Trump dialed up trade tensions once again with a 50% tariff on copper and a new round of letters imposing higher levies on countries.
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Total News Sources16
Leaning Left4Leaning Right3Center3Last UpdatedBias Distribution40% Left
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- 40% of the sources lean Left
40% Left
L 40%
C 30%
R 30%
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