Stock market hits record highs; Nvidia value tops $4 trillion

The S&P 500 and Nasdaq closed at record highs, with Nvidia’s market value exceeding $4 trillion for the first time. Delta Air Lines forecasted profits above estimates, boosting travel stocks. Trump confirmed a 50% tariff on Brazilian goods, affecting copper from August 1. Brazilian real recovered but stocks fell.

Brazil’s President vowed retaliation against tariff hikes, raising concerns of price increases for coffee and orange juice. Market reactions to Trump’s tariffs have been less severe, with hopes for trade agreements. Investors await second-quarter earnings impact from Trump’s trade war launched on April 2.

The market is in a holding pattern ahead of second-quarter earnings reports, starting with JPMorgan Chase. Analysts have reduced estimates due to tariffs, but expect tech companies to deliver strong earnings. The Dow Jones, S&P 500, and Nasdaq closed higher, while MSCI’s global stocks gauge also rose.

Bitcoin hit another all-time high, and TSMC’s upbeat results showed demand for AI products. The dollar index rose, while 10-year U.S. Treasury yields edged higher. Oil prices fell due to tariff concerns, with Brent crude settling at $68.64 a barrel and WTI crude at $66.57 a barrel. Spot gold rose to $3,323.39 an ounce.

Read more at Yahoo Finance: S&P 500, Nasdaq post record closes, Nvidia closing valuation $4 trillion