On July 10th, local time, as the U.S. stock market closed, both the Nasdaq and the S&P 500 indexes saw increases and reached new closing highs. Tesla’s market value increased by approximately 323.6 billion yuan overnight, while Netflix fell. The rare earth sector performed strongly. International oil prices fell, and Bitcoin hit a new historical high. Looking at recent performances in the U.S. stock market, investors seem to be dispelling concerns about tariff policies. Wall Street institutions believe that despite the ongoing uncertainty of trade policies, the market is currently focusing more on economic fundamentals and corporate profit prospects.
As of the close of the U.S. stock market on July 10th, local time, the Nasdaq closed up 0.09%, the S&P 500 index rose by 0.27%, and both indexes set new closing highs, with the Dow Jones Industrial Average increasing by 0.43%.
Large technology stocks saw mixed results, with Tesla trading at $309.87, up 4.73%, with its latest market value reaching $998.08 billion, an increase of $45.1 billion (approximately 323.6 billion yuan) overnight.
Netflix fell by more than 2%. Frontier Airlines surged by 12%, leading the travel sector higher, with its performance outlook showing a rebound in demand. Bitcoin-related stocks also rose, with Coinbase surging over 4%.
On the evening of July 10th, the U.S. rare earth sector experienced a sharp rise.
MP Materials’ stock price soared by more than 60%, closing up 50.75% at the end of the session.
According to China Fund News, MP Materials, a rare earth magnet manufacturer, received a $400 million equity investment from the U.S. Department of Defense for the construction of a new factory, and it also secured financing commitments totaling $1 billion from JPMorgan Chase and Goldman Sachs. This news led to a significant increase in the company’s stock price.
Popular Chinese concept stocks saw mixed results, with the Nasdaq China Golden Dragon Index closing up 0.90%. Alibaba soared by more than 2%, NetEase fell by more than 2%, and XPeng Motors and JD.com both declined by more than 1%.
The富时A50期指 continued its night session gains, closing up 0.07%, at 13829.00 points.
International oil prices fell on July 10th. By the close of that day, the price of light crude oil futures for August delivery at the New York Mercantile Exchange dropped by $1.81 to $66.57 per barrel, a decrease of 2.65%; and the price of Brent crude oil futures for September delivery at the London market fell by $1.55 to $68.64 per barrel, a decrease of 2.21%.
Spot palladium soared by 6%, currently at $1205.50 per ounce, reaching a new high since October last year.
Bitcoin briefly broke through $117,000, continuing to set new historical records, with an intraday increase of over 5%.
According to Securities Times, looking at recent performances in the U.S. stock market,
investors seem to be dissipating their concerns about tariff policies.
Wall Street institutions believe that despite the ongoing uncertainty in trade policies, the market is now more focused on economic fundamentals and corporate profit prospects.
Looking ahead to the U.S. stock market, Goldman Sachs believes that the U.S. is in the mid-to-late stages of the business cycle, showing no signs of recession and strong earnings growth, while interest rate cuts remain expected. The market sentiment cycle is shifting towards positive but has not yet reached the frenzy stage, indicating room for further gains.
Additionally, the optimistic sentiment towards AI in the U.S. stock market is growing stronger, with Nvidia’s total market value once breaking through $4 trillion, marking an unprecedented milestone.
Dakota Wealth’s senior portfolio manager Robert Pavlik stated, “To further climb higher in the U.S. stock market, it requires large tech stocks in the U.S. to deliver unexpectedly strong financial reports.”
This article combines content and data from Securities Times, China Fund News, and other market public information.
Disclaimer: The content and data in this article are for reference only and do not constitute investment advice. Use them at your own risk.