Wall Street Hits New Highs as S&P 500 and Nasdaq Set Records

The specter of trade war did not scare investors on Wall Street. All leading indexes rose on Thursday and both S&P500 and Nasdaq reached new record levels.

» Published: July 10 2025 at 22:05

Wall Street Hits New Highs as S&P 500 and Nasdaq Set Records
Photo: Yuki Iwamura/AP/TT

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The broad S&P500 index rose 0.3 percent and the technology-heavy Nasdaq's composite index increased 0.1 percent. It helped both to new records, according to CNBC.

The Dow Jones industrial index advanced 0.4 percent.

The mining company MP Materials – which specializes in the extraction of rare earth metals and the manufacture of so-called permanent magnets – reached its highest stock price in several years. The stock rose 50.6 percent after the US Department of Defense became the majority owner of the company.

Among the biggest winners on the stock exchange were the airlines, after Delta submitted a quarterly report clearly above expectations. Delta's stock increased 12.0 percent.

The snack specialist Kellogg rose 30.6 percent, in line with the bid made by the chocolate giant Ferrero on the company.

The rise on the stock exchange comes despite the recent customs chaos. US President Donald Trump has sent letters to a large number of countries about the customs duties he threatens to introduce if they do not reach an agreement.

On Wednesday, he threatened Brazil with 50 percent customs duties, among other things, due to what he calls a "witch hunt" against former President and Trump friend Jair Bolsonaro, who is on trial accused of trying to stage a coup.

In addition, he announced 50 percent customs duties on copper imports.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers
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