Wall Street rallied on Thursday to record closing highs, as chipmaker Nvidia rose closer to a $4 trillion valuation and a surprisingly strong U.S. jobs report cheered investors, who shrugged off dimming chances for an interest rate cut this month.
The S&P 500 and Nasdaq closed at record highs, notching a third week of gains. The Dow closed up 0.77%, only 0.41% away from its own record.
Market Snapshot
The S&P 500 gained 51.94 points, or 0.83%, to 6,279.36 and the Nasdaq Composite gained 207.97 points, or 1.02%, to 20,601.10. The Dow Jones Industrial Average rose 344.11 points, or 0.77%, to 44,828.53.
Nvidia, CoreWeave, Dell - Nvidia rose 1.3% after the company's next-generation artificial-intelligence chip, the Blackwell Ultra AI GPU, became commercially available. The chip maker closed at a record high on Thursday, putting shares one step closer to unseating Apple as the most valuable company in market history. CoreWeave and Dell Technologies announced Thursday the first cloud provider deployment of Nvidia's latest GB300 NVL72 AI systems for customers. their shares jumped 8.9% and 1.4%,respectively.
Circle - Circle shares jumped 6.1% as Bitcoin briefly topped $110,000. US House leaders have designated the week of July 14 as "Crypto Week", when three major cryptocurrency-related bills will be brought to a vote.
Tesla - Tesla ended the session down slightly. Shares jumped 5% on Wednesday and snapped a six-session losing streak, even as the electric-vehicle maker posted its worst quarterly decline for deliveries in its history. The company delivered 384,122 cars in the second quarter, down 13.5% from the 444,000 cars delivered a year earlier. The results were better than Wall Street expectations and higher than the 337,000 delivered in the first quarter of 2025.
Lucid - Lucid closed up 5.4%. The EV maker reported 3,309 vehicle deliveries in the second quarter, a record for any quarter, and above the 2,394 delivered in the same period a year earlier. For the first half of the year, deliveries totaled 6,418, up almost 50% from a year earlier. Competitor Rivian Automotive, meanwhile, delivered 19,301 vehicles in the first half of 2025, down almost 30% year over year. Rivian fell 4.5% on Wednesday after its deliveries numbers were released. The stock rose 1.6% on Thursday.
Datadog - Datadog soared 14.9% after it was announced that the software maker would replace Juniper Networks in the S&P 500 index beginning July 9. Juniper was acquired by Hewlett Packard Enterprise on Wednesday. Datadog, which makes monitoring and analytics tools for developers and others, has a market capitalization of nearly $47 billion.
Alibaba - U.S.-listed shares of Alibaba dropped 1.8%. The Chinese tech giant is seeking to raise around HK$12 billion ( $1.53 billion ) through exchangeable bonds to boost investments in its cloud infrastructure and global commerce operations, the company said on Thursday.
Synopsys, Cadence Design - Synopsys and Cadence Design jumped 4.9% and 5.1%, respectively, after the companies said the U.S. had eased restrictions on exports of semiconductor design software to China. In a statement on its website, Synopsys said it was "working to restore access to the recently restricted products in China," while confirming that it had been informed of the restrictions being lifted. "Synopsys is continuing to assess the impact of export restrictions related to China on its business, operating results and financials," the company continued.
TripAdvisor - Tripadvisor surged 16.7% after The Wall Street Journal reported activist investor Starboard Value had built a stake of more than 9% in the online travel-review company. The outlet cited people familiar with the matter.
BitMine Immersion - BitMine Immersion Technologies stock posted another day of explosive gains in Thursday's trading -- ending the session up 130.8%. The company's share price is up roughly 2,450% over the last week. Investors are excited to have Wall Street strategist Tom Lee's appointment as board chairman. BitMine is aiming to be a leading Ethereum investment company, similar to what Strategy has done with Bitcoin.
Olo - Olo rose 13.6% after private-equity firm Thoma Bravo reached an agreement to take the restaurant-technology provider private in an all-cash transaction with a value of about $2 billion.
Centene - Shares of health insurer Centene fell 1.4%. The stock sank 40% on Wednesday after Centene pulled its fiscal-year earnings guidance, marking the stock's worst daily percentage decrease on record, according to Dow Jones Market Data. New data for the insurance plans Centene sells on the Affordable Care Act exchanges showed that plan growth was lower than anticipated, the company said.
Molina Healthcare - Fellow insurer Molina Healthcare, which also has exposure to the ACA exchanges, ended Thursday's session up 0.2% after falling sharply on Wednesday. The 22% drop represented the stock's worst one-day percentage decrease since June 7, 2012, when it fell 31%.
House Narrowly Passes Trump ’ S Megabill in Major Victory for Republicans
The House of Representatives on Thursday passed President Donald Trump ’ s massive tax-and-spending bill, delivering him a major political victory and teeing him up to enshrine much of his sweeping domestic agenda into law.
The final vote was 218-214, with two Republicans — Thomas Massie of Kentucky and Pennsylvania ’ s Brian Fitzpatrick — voting against it alongside all of the chamber ’ s Democrats.
The bill now heads to Trump ’ s desk for his signature.
Solid US Job Growth Masks Loss of Labor Market Momentum
U.S. job growth was unexpectedly solid in June, but nearly half of the increase in nonfarm payrolls came from the government sector, with private industry gains the smallest in eight months as businesses battled rising economic headwinds.
Nonfarm payrolls increased by 147,000 jobs last month after an upwardly revised 144,000 advance in May, the Labor Department's Bureau of Labor Statistics said. Economists polled by Reuters had forecast payrolls rising 110,000 following a previously reported 139,000 gain in May.
While the Labor Department's closely watched employment report on Thursday also showed the unemployment rate falling to 4.1% last month from 4.2% in May, that was in part because some people left the labor force. The average workweek was shorter last month, suggesting businesses were probably reducing hours.
