Stocks rose on Wednesday after two days of declines. Those downturns proved to be little more than blips in the continuous—albeit choppy—march the stock market has had since its recent nadirs in April. Meanwhile, tech juggernaut Nvidia hit a historic new $4 trillion milestone.
Wednesday, July 9 marked the deadline for a 90-day pause on tariffs. However, Trump has since extended the deadline to Aug. 1. On Wednesday, the President sent “tariff letters” to seven new countries including the Philippines, Moldova, and Brunei.
Back in the U.S., stock market darling and semiconductor juggernaut Nvidia became the first company with a $4 trillion valuation.
Shares rose 1.8% on Wednesday hitting a share price of $162.86. Nvidia became the poster child for the AI market rally that led the S&P 500 to back-to-back years of more than 20% growth.
The company’s shares shot up as soon as markets closed. Investors were eager to scoop up shares after shares fell slightly over the past week. After that initial exuberance, the price tailed off into before plateauing around 11a.m. Shares remained stable throughout the rest of the session.
