In the first week of July, President Donald Trump announced 10% tariffs on countries aligned with BRICS and imposed a 50% levy on copper imports, emphasizing an Aug. 1 deadline. By the week’s end, both the Nasdaq Composite and S&P 500 Index reached record highs, despite a Friday pullback that had all three major indexes eyeing weekly losses. Nvidia became the first company to hit a market capitalization of $4 trillion as jobs data was released.
Options traders focused on significant activity from Tesla (TSLA) and airline earnings, while MP Materials (MP) gained attention after a Pentagon deal. Analysts upgraded stocks including Vertiv and Advanced Micro Devices for their AI advancements, while Netflix faced valuation concerns and MGM Resorts received a downgrade.
Looking ahead, earnings season is approaching, and analysts are preparing for initial public offerings (IPOs) that could have a notable impact on the market.
