Newscasts - Wall Street closes up; Nvidia hits $4 trillion milestone

The AES

09/07/2025 23:05

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Source: 'Reuters - Business videos'

Description: Wall Street indexes closed higher on Wednesday after Federal Reserve meeting minutes fueled hopes that inflation pressures from President Donald Trump's tariffs would not derail interest rate cuts this year and the tech-heavy Nasdaq led gains as Nvidia briefly reached a $4 trillion valuation. Lisa Bernhard has more.

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Video Transcript:

Wall Street's main indexes closed higher on Wednesday, with the Dow adding roughly 0.5%, the S&P 500 gaining about 0.6%, and the NASDAQ climbing just shy of 1%. The minutes from the Federal Reserve's June meeting showed most central bank officials expect rate cuts later this year with inflation from President Donald Trump's tariffs expected to be temporary or modest. Meanwhile, Trump on Wednesday issued trade letters to more countries, calling for tariffs of 30% on Algeria, Iraq, and others, and 25% on Brunei and Moldova. The European Union has said it could reach an outline trade agreement with the US in the coming days. Brian Mulberry, Client Portfolio Manager at Zacks Investment Management, said investors will likely remain on edge until more deals are reached.

Tense is the word I would use to describe this market right now. We're slightly positive on the day and on the week and, really, it's around when are we going to see some more substantial information from some high-volume trading partners. We've got a slew of letters that went out. Nothing really impactful. Really, all you have to work with is the Japan and South Korea. Those two combined make up roughly 12% of the imported goods volume and 25% is within the acceptable tolerance. So, we're just, I think, waiting on bated breath for more news from higher-volume trading partners.

Perhaps the biggest market news of the day may have come from NVIDIA, which became the world's first company to hit a $4 trillion market value Wednesday morning before giving back some gains. The milestone solidified the AI-chip powerhouse's position as one of Wall Street's most-favored stocks. Other movers included AES Corp, which rallied nearly 20% after Bloomberg reported that the power provider was exploring a potential sale amid takeover interest from large investment firms. And Boeing shares gained more than 3.5% as Susquehanna raised its price target on the stock after the planemaker reported its June airplane deliveries increased 27% on a yearly basis.