On the 10th (local time), the New York stock market closed higher, setting new records again.
On this day, U.S. President Donald Trump announced a 50% tariff on Brazil, but investors shook off tariff concerns and focused on big tech investments.
On this day, the S&P 500 index finished trading at 6,280.46, up 17.20 points (0.27%) from the previous trading day. This marks the highest level for two consecutive days.
The Nasdaq Composite Index, centered on technology stocks, rose by 19.33 points (0.09%) to set another record at 20,630.67.
The Dow Jones Industrial Average increased by 192.34 points (0.43%) to record 44,650.64.
Nvidia rose by 0.8%, maintaining a market capitalization of $4 trillion. It continued its strong performance after being the first listed corporation to surpass a market capitalization of $4 trillion the previous day.
Tesla rose by 2.5%. This came after Elon Musk announced plans to expand robotaxi services in Austin, Texas, starting this weekend and moving into the San Francisco area in a month or two.
On the same day, President Trump revealed that he would impose a 50% tariff on Brazilian imports, citing the trial of former Brazilian President Jair Bolsonaro and "unfair trade relations."
Following this news, Brazilian ETFs fell by 1.6%. President Luiz Inácio Lula da Silva of Brazil noted that they would respond according to the Economic Mutualism Act.
Bitcoin surpassed $116,000, again setting a record high. The stock rally led by Nvidia seems to have spread to cryptocurrency.
Delta Air Lines surged by 11%. The company's second-quarter earnings exceeded expectations, and it announced the resumption of its revenue forecast for 2025.
Global cereal manufacturer WK Kellogg rose by 30%, following news of an acquisition by Italian chocolate company Ferrero for $3.1 billion.
Charles Schwab Chief Investment Strategist Kevin Gordon analyzed, "There is a clear trend of funds concentrating into large-cap stocks," and added, "Big tech stocks are serving as a new form of safe haven, not traditional safe assets."