Stock Market Today: S&P 500, Nasdaq hit record highs, Nvidia tops $4 trillion again
Stock Market Today: S&P 500, Nasdaq hit record highs, Nvidia tops $4 trillion again originally appeared on TheStreet.
Updated 4:56 p.m. EDT
Stocks surged into record territory Thursday, as Nvidia crossed the $4 trillion market cap line again to close at a fresh high.
The S&P 500 added 0.27% to end the day at a record high 6,280.46, while the tech-heavy Nasdaq closed up 0.09% at its own fresh high of 20,630.67 and the Dow Jones Industrial Average gained 192 points, or 0.43%, to finish the session at 44,650.64.
It was a day for records, as, in addition to Nvidia, Broadcom, Coinbase, and Charles Schwab (SCHW) closed at fresh highs, along with Southwest Airlines (LUV) , Wynn Resorts (WYNN) , Dollar Tree (DLTR) and Cracker Barrel (CRBL) .
Regarding Nvidia’s $4 trillion market cap, Bleakley Financial Group CIO Peter Boockvar said in a Thursday Substack post that the figure equates to about 3.6% of global gross domestic product, according to Barrons.
Updated 3:58 p.m. EDT
Nvidia's (NVDA) market capitalization topped $4 trillion again today and were leading stocks higher as the 4 p.m. close neared.
No stock has ever closed with market cap above $4 trillion. Nvidia briefly topped $4 trillion Wednesday morning as investors fully embraced the potential of artificial intelligence to influence lives globally.
Nvidia was at $164.09. It needed to close above above $163.93 to get to $4 trillion.
At 3:50 p.m. ET, the Standard & Poor's 500 Index was up 13 points to 6,277. The Nasdaq Composite was about 5 points higher at 20,618. The venerable Dow Jones Industrial Average was up 184 points to 44,643.
The gains had moderated somewhat just before the close.
Nvidia, WK Kellogg deal, Delta Air, MP Materials
Stocks were struggling for gains on Thursday as many investors were waiting to see whether chip giant Nvidia could close the day with a market capitalization of $4 trillion.
At 12:44 p.m. EDT, Nvidia was up 39 cents to $163, with a market cap of $3.97 trillion.
The market indexes were mixed. The Standard & Poor's 500 Index was up 16 points to 6,279. The Nasdaq Composite was about flat at 20614. The venerable Dow Jones Industrial Average was up 238 points to 44,696.
Image source: Shutterstock Among big movers were Delta Air Lines (DAL) , up 13% to $57.49 after reporting better-than-expected earnings and boosting guidance. CEO Ed Bastian said, nonetheless, that summer travel among economy travelers is lower.
Other airline stocks, including UAL (UAL) , Southwest (LUV) , and Alaska Airlines (ALK) , surged on the Delta numbers.
Story ContinuesMeanwhile, WK Kellogg (KLG) shares were up 30% to $22.84 after the cereal maker agreed to sell out to Italian candy maker Ferrero Rocher for about $3 billion. U.S. headquarters would remain in Battle Creek, Mich.
Bitcoin surges above 113,000
Defense Department invests in rare earths
Shares of MP Materials (MP) , which operates the one and only U.S. mine with rare-earth deposits, were up nearly 50% to $44.26 after saying it had a new, very big investor: the U.S. Department of Defense.
The company struck a multibillion-dollar public-private deal with the US Department of Defense to build a new magnet plant and expand rare earth capabilities.
The department is investing $400 million in a preferred stock issue and will loan the company $150 million to build a new domestic magnet-manufacturing facility and expand current mining and processing facilities.
Stock Market Today
It's the largest company in the S&P 500 (and the world), and it set a record yesterday and a record for being the first company to cross the $4 trillion market-cap level.
I'm talking about Nvidia (NVDA) , of course, and the question is: Can it help power the S&P 500 to another record high?
The answer is yes. In premarket trading shares of the AI-chip giant are trading up nearly 1%. CEO Jensen Huang is off to China next week to meet with senior officials there. China is a key market for Nvidia, and this meeting will be important for both sides.
Because of Nvidia's about 7% weight in the S&P 500, it holds large sway over the index. When it goes up, the S&P 500 generally follows.
The second-largest company in the S&P 500 is Microsoft (MSFT) . It, too, set a new high yesterday but is trading slightly lower this morning. As are shares of the next several largest stocks. Apple (AAPL) , Amazon (AMZN) , Alphabet (GOOGL) and Meta (META) are all lower.
As a result, stock market futures are lower, albeit only marginally. The S&P 500 futures are off by 0.1%, while the tech-heavy Nasdaq futures are trading lower by 0.05%.
ThinkOrSwim Bonds are slightly lower (yields higher) on the heels of a respectable 10-year auction yesterday, while gold and copper rally and crude falls.
Overnight trading in S&P futures saw the market fall and then rally. We're currently on another downswing.
ThinkOrSwim The big news on the economy this morning is the jobless claims. The U.S. Department of Labor reported that initial claims fell by 5,000 while continuing claims rose. Stock market futures initially rose on the news but quickly continued their decline.
Stock Market Today: S&P 500, Nasdaq hit record highs, Nvidia tops $4 trillion again first appeared on TheStreet on Jul 10, 2025
This story was originally reported by TheStreet on Jul 10, 2025, where it first appeared.
