Wednesday, July 9, 2025

Fireworks on Wall Street: Markets Soar as U.S. Prepares for Independence Day

UPI-Yonhap

The New York stock market continued its record-breaking run on July 3.

The Dow Jones Industrial Average, composed of 30 large-cap stocks, closed nearly flat. On the contrary, the tech-heavy S&P 500 and Nasdaq both hit all-time highs once again.

With Independence Day just around the corner, the market closed three hours early at 1 PM EST, as investors hurried to buy promising stocks before heading off on vacation.

Tesla, which soared 10% the previous day, jumped another 6.5%, while Nvidia rebounded from recent weakness with a 4.6% surge.

Expectations for a Federal Reserve interest rate cut in September were bolstered by an ADP announcement that U.S. private sector employment in June fell short of expectations by 10,000, coming in at 150,000.

As a result, the tech-heavy S&P 500 and Nasdaq continued their record-breaking streaks.

The S&P 500 rose 28.01 points (0.51%) to 5537.02, and the Nasdaq jumped 159.54 points (0.88%) to 18,188.30.

The S&P 500 broke the 5500 level for the first time the day before and set a new all-time high in just nine trading days, closing at a record high for the second consecutive day.

The Nasdaq continued its record-breaking run for the third day this month.

Conversely, the Dow closed slightly lower due to a 1.2% drop in Amazon, a 0.9% drop in IBM, and a 1.5% drop in pharmaceutical company Merck.

The Dow closed nearly flat, down 23.85 points (0.06%) at 39,308.00.

Tesla and Nvidia performed strongly on the day.

Nvidia, which had declined 1.3% the previous day, surged 4.6% gaining $5.61 (4.57%) to close at $128.28.

Tesla soared 10% the previous day on better-than-expected quarterly delivery results, jumping another 6.5%. The surge continued after Wedbush Securities analyst Dan Ives raised his price target from $275 to $300. Tesla closed up $15.13 (6.54%) at $246.39, marking a 24.5% increase just this week.

All of the remaining M7 stocks rose, except for Amazon.

Microsoft Corporation(MS) rose $1.49 (0.32%) to $460.77, and Apple closed up $1.28 (0.58%) at $221.55.

Alphabet jumped $0.58 (0.31%) to $185.82, and Meta rose $0.46 (0.09%) to $509.96.

On the other hand, Amazon slipped $2.41 (1.21%) to $197.59.

Hot this week

Tesla Tanks $68B as Musk Unveils New Political Party

The New York stock market declines after Trump imposes tariffs on South Korea and Japan, with Tesla losing $68 billion in value.

Oil Prices Climb After Saudi Arabia Hikes Export Rates

Saudi Arabia's surprise oil price hike boosts international oil prices, impacting markets and South Korea's oil imports significantly.

Apple’s FaceTime May Now Pause Your Call If Nudity Is Detected

Apple introduces nudity detection in FaceTime, pausing calls when nudity is detected, raising privacy concerns among users.

Nippon Steel Eyes Comeback as World’s No.1 with Massive U.S. Push

Nippon Steel aims to boost crude steel production by 60% through U.S. Steel acquisition and significant investments in technology.

Leaked Pics Show Samsung’s Galaxy Z Fold 7 — Thinner, Lighter, and Sleek

Leaked images reveal Samsung's Galaxy Z Fold 7, featuring a thinner design, advanced specs, and set for unveiling on July 9.

Topics

Tesla Tanks $68B as Musk Unveils New Political Party

The New York stock market declines after Trump imposes tariffs on South Korea and Japan, with Tesla losing $68 billion in value.

Oil Prices Climb After Saudi Arabia Hikes Export Rates

Saudi Arabia's surprise oil price hike boosts international oil prices, impacting markets and South Korea's oil imports significantly.

Apple’s FaceTime May Now Pause Your Call If Nudity Is Detected

Apple introduces nudity detection in FaceTime, pausing calls when nudity is detected, raising privacy concerns among users.

Nippon Steel Eyes Comeback as World’s No.1 with Massive U.S. Push

Nippon Steel aims to boost crude steel production by 60% through U.S. Steel acquisition and significant investments in technology.

Leaked Pics Show Samsung’s Galaxy Z Fold 7 — Thinner, Lighter, and Sleek

Leaked images reveal Samsung's Galaxy Z Fold 7, featuring a thinner design, advanced specs, and set for unveiling on July 9.

U.S. to Hit 90 Countries With Tariffs—Unless They Make a Deal Fast

The U.S. plans to notify trading partners of tariff rates as Trump favors simpler deals over complex negotiations.

Tesla Sales Keep Slipping, But Stock Still Jumps Nearly 5%

Tesla's vehicle sales fell 13.5% year-on-year in Q2, with deliveries below market expectations, but stock surged nearly 5%.

S&P and Nasdaq Hit New Highs Ahead of July 4th Holiday

The New York stock market showed mixed results as the Dow dipped while the S&P 500 and Nasdaq hit record highs ahead of Independence Day.

Related Articles