On the 9th (local time), the New York stock market closed higher.
Nvidia led the big tech rally as it became the world's first corporation to surpass a market capitalization of $4 trillion. The Federal Reserve's minutes released on this day also fueled expectations for interest rate cuts.
On this day, the Dow Jones Industrial Average finished trading at 44,458.30, up 217.54 points (0.49%) from the previous trading day.
The S&P 500 index recorded an increase of 37.74 points (0.61%) to finish at 6,263.26.
The tech-heavy Nasdaq Composite Index soared 192.87 points (0.95%) to close at an all-time high of 26,611.34.
Nvidia surged 1.8%, becoming the world's first corporation to surpass a market capitalization of $4 trillion, driven by the artificial intelligence (AI) boom.
With this news, the semiconductor ETF also reached an all-time high. The VanEck Semiconductor ETF increased by 0.68%.
Microsoft and Amazon rose by 1.4% and 1.5% respectively. Meta Platforms and Alphabet also saw gains.
The Federal Reserve noted in the June minutes released on this day that "most Commissioners believe that an interest rate cut would be appropriate this year."
It also assessed the inflation pressure caused by President Trump's tariff policy as "temporary and limited."
On the same day, President Trump announced additional tariffs on seven countries. A 20% tariff will be levied on the Philippines, 25% on Brunei and Moldova, and 30% on Algeria, Iraq, and Libya.
The previous day, it was announced that a 50% tariff would be imposed on copper imports. As a result, copper futures prices in the U.S. reached a record premium compared to the London Metal Exchange.
AES soared 19.8% on news of a review for sale. Bloomberg reported that BlackRock and Brookfield are considering an acquisition.
Boeing rose 3.7% on news that aircraft deliveries in June increased by 27% compared to the same period last year.
On the other hand, UnitedHealth fell 1.6% on news of an investigation by the Department of Justice into Medicare billing practices.
Chris Brigati, Chief Investment Officer at SWBC, said, "The market is becoming insensitive to tariff headwinds," and added that "the expectation is growing that robust growth over the past three months has allowed it to withstand the tariffs."