Stock Market Summary – July 10, 2025

The S&P 500 index saw a surge today, despite concerns about tariffs on copper imports and President Trump’s proposed 50% tariff on Brazilian imports starting August 1st. However, the Nasdaq underperformed, with noticeable pullback from technology stocks like Netflix and Meta Platforms. AWS (Amazon Web Services) announced that they have developed an in-house solution for the cooling needs of Nvidia’s next-generation AI chips, which could have a positive impact on both Nvidia and Amazon shares.

Tesla shares gained 5% following CEO Elon Musk’s announcement that the company is expanding its robotaxi service area and will add xAI’s chatbot Grok to its vehicles.

Delta Air Lines saw a 12% increase in share prices after reinstating its 2025 profit outlook, while shares of Brazilian stocks fell following President Trump’s tariff announcement. WK Kellogg saw a 30% jump in share prices after agreeing to a buyout from Ferrero. AMD stocks moved 2% higher on an upgrade to buy at HSBC, and Byrna Technologies shares rose 5% ahead of Q2 results.

The Pentagon announced an agreement to buy $400 million of preferred stock in rare earth miner MP Materials, causing its shares to surge by 50%. The investment comes as part of an effort to reduce U.S. dependence on China for rare earth imports.

Finally, Wedbush analyst Dan Ives raised his outlook for Palantir and identified it as a top software stock to play the AI revolution. Palantir shares have seen a 90% increase this year, with a new 12-month price target of $160, representing a 12% upside.

1. Delta shares surged by 11% after reinstating its 2025 profit outlook due to the company’s stronger-than-expected summer travel season forecast. CEO Ed Bastian revealed that bookings had stabilized after a lag earlier this year. The Delta’s report led to a surge in shares in other airlines as well. Delta reported Q2 earnings per share of $2.1, higher than the $2.05 expected, and a revenue of $15.51 billion, also slightly higher than the forecasted $15.48 billion.

2. According to Stephens, certain companies may soon be included in the S&P 500, a development that virtually always ensures a bump in these companies’ share prices. These potential candidates include Interactive Brokers, Emcor Group, Vertiv Holdings, Ferguson Enterprises, Trade Desk, Reddit, Pinterest, Carvana, Flutter Entertainment, and Cheniere Energy.

3. Goldman Sachs issued buy ratings on several AI-affiliated businesses, including Nvidia, Broadcom, Cadence Design Systems, and Synopsys. The firm believes these companies, tied to ongoing AI-related spending, are not yet fully valued by the market. Nvidia and Broadcom both have price targets of $185 and $315, indicating a potential upside of more than 13% for each stock.

4. Jim Cramer encourages investors to buys shares in Costco following strong June sales. He argues that, despite political tariff uncertainty, the retailer could be a good target for preserving wealth against inflation. U.S. core comparable sales for Costco rose 5.5% in the month ending on July 6, and although slightly lower than Wall Street expectations, sales were above buy-side predictions. Though Costco’s stock dipped by 0.5% on Thursday, Cramer still believes it’s a good move, predicting a share price target of $1,100.

5. After a 50% U.S. copper tariff was confirmed, mining companies in the U.K., including Anglo American, Antofagasta, and Rio Tinto, saw share prices leap, driving the FTSE 100 to a record high. The U.S. decision to impose duties on copper imports, though causing short-term market discord, could potentially be advantageous to mining producers. The demand for copper is expected to continue unabated due to the U.S. being unable to adequately raise production levels in the short term. This rise in copper prices should primarily benefit U.S.-based mining companies. European mining firms have not fared as well despite rallying commodity prices, with expectations of global growth marred by U.S. tariff uncertainty and varying economic signals from China.