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Market Day: New peaks, minimal updates

July 10, 2025

Market Overview

A bit of a pause is in the air for Jamie, but the Reuters Market team is staying on top of the latest moves in the stock market, including notable trends in two major stock indexes and the recent highs reached by Bitcoin. I’m curious about your thoughts, so don’t hesitate to reach out.

Key Market Movements Today

S&P 500 ended the day up 0.27%, while the Nasdaq gained 0.09%.
The dollar dipped slightly against the yen, although the euro remained stable.
The yield on the 10-year Treasury fell by 0.6 basis points.
US crude oil futures decreased by around 2.2%, settling at $66.88 per barrel.
Gold market saw some fluctuations.

Significant News for Today

Trump announced a 50% tariff on copper imports from Brazil, effective in August.
Bitcoin has once again reached new heights.
US weekly unemployment claims surprisingly dropped to a seven-week low.
Investors are on the lookout for factors that could affect European income amidst tariff concerns.

Wall Street Update

Stocks on Wall Street saw gains today, spurred by positive sentiment around Delta’s forecasts. Interestingly, even with minimal news, the prevailing market behavior this week leaned towards buying, largely unperturbed by economic reports or significant developments.

Trump’s latest trade announcement about the tariffs on Brazilian goods caused the actual currency to decline by over 2%, which has brought some stability to the market following a period of significant lows.

Nonetheless, the S&P 500 and Nasdaq maintained their upward trajectory. This week has been somewhat uneventful regarding scheduled events, primarily focusing on the approaching tariff deadline of July 9. There’s a lot of back and forth regarding the new tariffs and ongoing negotiations, particularly with an important cutoff date coming on August 1.

On Tuesday, major banks like JP Morgan will kick off their second-quarter earnings reports, which many investors are looking forward to. Along with this, the Consumer Price Index report for June is also on the agenda.

The Treasury is expected to issue insights based on recent unemployment claims data, which has shown an unexpected decrease in the number of people applying for benefits.

Bitcoin has experienced a trajectory of highs since it first crossed the $100,000 mark in December. After hovering just above $110,000 for some time, it surged past $113,000 recently. Trump appears to support a strategic cryptocurrency reserve and has appointed individuals aligned with crypto-friendly policies, which may simplify entries for both small and large investors.