Major Indexes Continue Upward Momentum at Market Open
The stock market opened with positive momentum on Thursday, July 10, 2025, as investors digested a mix of corporate earnings and trade policy developments. At the opening bell, the tech-heavy Nasdaq Composite continued its upward trajectory, building on yesterday’s record close of 20,611.34. The S&P 500 added modest gains, hovering just 16 points shy of its all-time high, while the Dow Jones Industrial Average showed mixed performance, remaining about 1% away from its first record close since December.
The markets today are being driven primarily by strong performance in technology stocks, particularly those related to artificial intelligence. This follows Wednesday’s session where all three major averages closed higher, fueled by bullish AI sentiment that propelled big tech stocks to new heights.
Nvidia Makes History as First $4 Trillion Company
In a landmark moment for the markets, Nvidia (NVDA) briefly touched a market capitalization of $4 trillion during Wednesday’s session, becoming the first company in history to reach this milestone. The chipmaker’s shares have shown remarkable resilience, gaining approximately 1.77% in early trading today after closing yesterday’s session up 1.8% with a market cap of $3.97 trillion.
Nvidia’s meteoric rise has been fueled by massive demand for its AI chips, with the company seeing a year-to-date gain of over 170%. The stock’s performance has been particularly impressive given the broader market uncertainties, including concerns about tariffs and global trade tensions.
“It started out as being a gaming chipmaker and then a crypto mining chipmaker and now as a chipmaker for artificial intelligence computing power,” noted Art Hogan, chief market strategist at B Riley Wealth. “It is continuing to move forward and be a clear early winner of artificial intelligence.”
Airline Stocks Soar on Delta’s Strong Earnings
The airline sector is experiencing significant gains at today’s market open, led by Delta Air Lines (DAL), which reported stronger-than-expected quarterly results. Delta shares surged more than 12% after the carrier beat expectations for its second quarter and forecast third-quarter earnings and revenue that topped Wall Street’s estimates.
Despite cutting its full-year profit outlook to $5.25 to $6.25 a share (down from its January forecast of more than $7.35 per share), investors were encouraged by Delta’s confidence in stabilizing travel demand. CEO Ed Bastian told CNBC that bookings have stabilized, though the airline is still dealing with lower-than-expected demand.
“We’re in a very different place than we were 90 days ago,” Bastian said, pointing to progress in trade deals between the U.S. and other countries. “We’re hopeful—and with a little bit of confidence—that we’ll see things start to improve.”
The positive news from Delta lifted other airline stocks as well, with United Airlines (UAL) and American Airlines (AAL) each jumping about 10% in early trading.
Trump’s Tariff Announcements Create Market Uncertainty
Markets continue to navigate uncertainty surrounding President Donald Trump’s latest tariff announcements. On Wednesday, Trump revealed steep tariff rates on goods from eight more countries, with Brazil facing a particularly significant 50% tariff—a five-fold increase from the 10% rate imposed in early April.
Trump’s letter to Brazil President Luiz Inacio Lula da Silva cited the country’s treatment of former President Jair Bolsonaro and “unsustainable Trade Deficits against the United States” as reasons for the increase. However, data from the Office of the U.S. Trade Representative shows that the U.S. actually had a $7.4 billion goods trade surplus with Brazil last year. President Lula responded Wednesday evening, stating that Brazil will respond to Trump’s 50% tariff with reciprocity.
The tariff announcements have created volatility in the markets, though investors appear to be taking some comfort in the extension of the deadline for reimposing “reciprocal” tariffs to August 1, instead of this week.
Tech Sector News: Linda Yaccarino Steps Down as X CEO
In significant tech industry news, Linda Yaccarino announced on Wednesday that she is stepping down as CEO of X, the social media platform owned by Elon Musk. While Yaccarino did not provide a specific reason for her exit, it comes just a day after Musk’s AI chatbot Grok made controversial comments on the platform. However, sources familiar with the matter indicated that her departure had been in the works for more than a week.
Yaccarino joined X in May 2023 and had been a staunch defender of Musk on social media. In her announcement post, she expressed gratitude to Musk “for entrusting me with the responsibility of protecting free speech, turning the company around, and transforming X into the Everything App.”
Other Notable Stock Movements at Market Open
Beyond the headline-grabbing moves in Nvidia and airline stocks, several other companies are seeing significant price action at today’s market open:
– Microsoft (MSFT), Apple (AAPL), Amazon (AMZN), Alphabet (GOOG), and Meta Platforms (META) are showing mixed performance, with slight declines in early trading despite yesterday’s tech rally.
– Tesla (TSLA) added about 1% in early trading, continuing its volatile performance this year.
– Broadcom (AVGO) gained approximately 1%, benefiting from the ongoing strength in the semiconductor sector.
– MP Materials Corp. (MP) emerged as one of the top gainers, surging over 51% in early trading.
– Hertz Global Holdings (HTZ) rose nearly 13% at the market open.
Looking Ahead: Key Market Events
As investors navigate today’s market action, several upcoming events could impact trading in the days ahead. The next major test for the markets will come when earnings season kicks off next week, with tech earnings following in the ensuing weeks. Given the market’s recent surge, any signs of weakness in corporate earnings could potentially jolt stocks.
For now, market volatility remains at its lowest levels since February, with the VIX index showing minimal movement at today’s market open. Even the latest tariff threats have failed to significantly disrupt this trend of low volatility.
In the bond market, the yield on the 10-year Treasury note held steady at 4.34%, unchanged from yesterday’s close, while gold futures edged up 0.2% to $3,330 an ounce. West Texas Intermediate crude oil futures, the U.S. benchmark, slipped 1% to $67.70 per barrel.
As the trading day progresses, investors will be closely watching for any developments related to trade policy, corporate earnings announcements, and further movement in the technology sector, particularly among AI-related stocks that have been driving much of the market’s recent gains.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.