Nvidia's $4 Trillion Milestone Lifts Wall Street: What's Moving Markets Wednesday?

Wall Street rose on Wednesday as investors shrugged off fresh trade uncertainty after the White House delayed the start of new tariffs to Aug. 1, raising hopes for new rounds of negotiations.

This came just a day after President Donald Trump floated sweeping tariffs, including a 50% tariff on copper and a potential 200% tariff on pharmaceuticals, though the latter may include a grace period.

The Russell 2000 led the charge, rising 0.7% to 2,244, as small-cap stocks continued to rebound.

The Nasdaq 100 gained 0.5%, climbing to 22,815, supported by strength in megacap tech names. Nvidia Corp. NVDA grabbed headlines once again, with its market capitalization hitting $4 trillion, solidifying its lead as the world's most valuable company. According to the Financial Times, Nvidia is planning to launch a new AI chip designed specifically for China as soon as September.

The S&P 500 added 0.4%, trading at 6,250, while the Dow Jones Industrial Average inched 0.3% higher.

Sector performance was mixed, with utilities outperforming while consumer staples lagged.

In the bond market, Treasury yields fell 5 basis points ahead of a key 10-year auction later in the day. The U.S. dollar index held steady, ahead of the Federal Reserve's minutes from the June FOMC meeting, released on Wednesday afternoon.

Oil prices climbed for a third consecutive session, rising to $69 per barrel, while gold held flat at $3,325. In crypto, Bitcoin BTC/USD advanced 0.9% to $109,235, trading just 2.5% below its all-time highs set in May.

Wednesday’s Performance In Major US Indices, ETFs

According to Benzinga Pro data:

• The Vanguard S&P 500 ETF VOO rose 0.4% to $572.28.
• The SPDR Dow Jones Industrial Average DIA inched 0.3% higher to $443.81.
• The tech-heavy Invesco QQQ Trust Series QQQ rose 0.4% to $554.81.
• The iShares Russell 2000 ETF IWM rose 0.7% to $222.70.
• The Utilities Select Sector SPDR Fund XLU outperformed, up 0.8%; the Consumer Staples Select Sector SPDR Fund XLP lagged, down 1%.

Wednesday’s Stock Movers

• Boeing Co. BA climbed nearly 5% after delivering 60 aircraft in June, a 27% increase from a year ago. The monthly total included sales to Chinese customers, appearing for the first time in months—a potential sign of recovery for the planemaker.
• AES Corp. AES jumped 17% following a Bloomberg report that the renewable energy company is considering strategic alternatives, including a potential sale, as large investment firms express interest in a takeover.
• Verona Pharma VRNA soared 21% to $104.80 after Merck & Co. Inc. MRK announced a $10 billion deal to acquire the biotech firm, which specializes in treatments for lung diseases.

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