Wall Street rises as Fed minutes put rate cuts in focus, Nvidia hits $4 trillion milestone

Wall Street rises as Fed minutes put rate cuts in focus, Nvidia hits $4 trillion milestone

By Sinéad Carew and Pranav Kashyap

Wed July 9, 2025 4:56 PM

Any objective reading of today’s market events would have to lead to the conclusion of very mixed signals. But today the market instead chose to focus on the positive signals and ignore the negative, thus pushing all the indexes into very respectable 3-digit gains. On the one hand, the Fed said that inflation is expected to get worse. On the other, the tariff impact is expected to be minor but, despite the headline reading “Fed Minutes Put Rate Cuts in Focus,” there really was no change.

Rates will hold in July and September, as it always has, remains the first hope for a cut though they did repeat their stance that there will very likely be cuts later this year. This morning Nvidia briefly passed the $4T mark making it the most valuable company in history, but came down a notch before close. As for the tariffs, the consensus remains that the past patterns of dialing back will remain. At 18.1 billion, volume was just a notch below the recent average of 18.35 billion. 

DJ: 44,240.76  -165.60      NAS: 20,418.46  +5.95       S&P: 6,225.52  -4.46        7/8

DJ: 44,458.30  +217.54     NAS: 20,611.34  +192.87   S&P: 6,263.26  +37.74     7/9

Wed 7-9-25 4:56 pm Wall Street rises as Fed minutes put rate cuts in focus, Nvidia hits $4 trillion milestone | Reuters