By Alex Financials

Tech Titans Hit New Heights – Nvidia Leads the Charge

Nvidia ($NVDA) officially crossed an astounding $4 trillion market cap today, trading around $163.87 in early hours. That milestone fueled gains across AI‑related equities, with the Nasdaq Composite closing at a fresh record high.

But the momentum paused as profit‑taking kicked in; futures are now slightly lower across Nasdaq, Dow, and S&P 500. Many investors are watching support levels at Microsoft ($MSFT) around $468 and $425.

Delta Airlines Earnings Signal Industry Upside

Delta Air Lines ($DAL) jumped around 12% in pre-market trading after releasing strong Q2 earnings and reaffirming its full-year guidance . Their reported earnings—near $2.02 EPS—beat estimates, signaling resilience in the travel sector despite economic headwinds.

However, the market is mixed on whether this rally will extend to other airlines, given broader economic uncertainties.

Trade Tensions Return to the Forefront

President Trump announced a 50% tariff on Brazilian imports, triggering fresh worries about global trade friction. The Brazilian real pulled back and corresponding U.S‑listed Brazilian stocks softened.

While futures dipped moderately, the market remained relatively resilient, balancing optimism from earnings and tech strength.

Treasury Yields Edge Up, Fed Minutes Ahead

The 10‑year U.S. Treasury yield ticked higher, landing near 4.37%, ahead of a $22 bn auction of 30‑year bonds. Meanwhile, minutes from the Fed’s June meeting suggested rate cuts may come later this year, not immediately.

Markets are parsing these signals: growing confidence in rate easing, but rate volatility remains due to trade policy and deficit funding concerns.

Wall Street’s Mid‑Year Outlook: Bullish, But Guarded

Big banks like Goldman Sachs and Bank of America have lifted their 12‑month S&P 500 targets—ranging from 6% to 11% upside. Their optimism is rooted in strong earnings potential and possible Fed rate cuts.

Yet they caution that tariff worries, high valuations (S&P at ~22× forward earnings), and cooling Q2 earnings (~5.8% vs 13.7% in Q1) could moderate gains.

Summary Takeaways

What to Watch Next

• More Q2 earnings: Conagra ($CAG), Levi Strauss ($LEVI), Simply Good Foods ($SMPL), Helen of Troy ($HELE) hit the wires today.

• Upcoming Fed commentary: St. Louis and San Francisco Fed presidents speak, with broader testimony expected.

• Bond auction: The demand reaction to the $22 bn 30‑year note sale may signal bond market sentiment .

Bottom line: July 10 brings a market balance between bullish fundamentals—like Nvidia’s AI lead, strong corporate profits, and lowered interest rate expectations—and headwinds from escalating trade tariffs and stretched valuations. Investors are finely tuned in for further earnings and Fed signals to dictate which way markets lean.