Nvidia stock eyes more gains after chipmaker becomes first company to reach $4 trillion market value

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Nvidia stock is signaling more gains early on Thursday after the chipmaker on Wednesday became the first publicly traded company to hit the $4 trillion mark, surpassing fellow tech players such as Microsoft and Apple.

Shares rose 0.3% in premarket trading, after closing Wednesday's session at a record high, up nearly 2% for the day. Its market cap ended up slightly under the $4 trillion mark at the close.

The move comes as the chip giant continues to ride the wave of generative AI hype that kicked off with the introduction of OpenAI's ChatGPT in 2022.

The chipmaker's stock price is up around 21% year to date and 24% over the past 12 months.

Nvidia's chips, modified graphics cards, and CUDA software platform are designed to both train and run AI programs, giving it a strategic advantage that rivals AMD and Intel continue to struggle to overcome. Yahoo Finance reports.

🚩Trump tariffs live updates: Brazil, copper hit with 50% tariffs as India seeks to dodge Trump's BRICS wrath: President Trump is amping up trade threats, again unveiling a new batch of letters to country leaders outlining tariffs on goods imported from their countries beginning in August and a warning to BRICS nations.

The highlight of Trump's Wednesday letters was a 50% tariff on goods from Brazil, citing its treatment of former President Jair Bolsonaro, now on trial in Brazil’s Supreme Court on charges that he plotted a coup in 2022.

"This Trial should not be taking place," Trump said. "It is a Witch Hunt that should end IMMEDIATELY!" Yahoo Finance reports.

🥣 Froot Loops maker WK Kellogg soars 50% on reports of Ferrero nearing buyout: Shares of WK Kellogg, the cereal maker behind Froot Loops and Frosted Flakes, skyrocketed as high as 50% after the Wall Street Journal reported Wednesday that Ferrero was nearing acquiring the company for $3 billion.

The Wall Street Journal reported the deal, in which the Nutella and Ferrero Rocher maker would acquire WK Kellogg for $3 billion, could be finalized as early as this week. CNN reports.

📚 Amazon considers another multibillion-dollar investment in Anthropic, FT reports: Amazon is considering another multibillion-dollar investment in AI firm Anthropic to strengthen their strategic partnership, the Financial Times reported on Thursday, citing people with knowledge of the talks.

The e-commerce giant has considered expanding its investment beyond the $8 billion already committed in November last year, the report said. Reuters reports.

✈️ Delta posts upbeat earnings, reinstates guidance; tax bill and trade deals are removing uncertainty, CEO says: Delta Air Lines, the world’s largest carrier by revenue, reported upbeat second quarter results and reinstated its guidance as growing economic clarity deflects headwinds resulting from the global trade war.

For the quarter, Delta posted adjusted revenue of $15.5 billion, topping estimates of $15.54 billion, per Bloomberg consensus, and up 1% compared to a year ago.

Delta’s adjusted earnings per share came in at $2.10, versus the $2.07 expected. Operating income came in at $2.0 billion, with an operating margin of 13.2%, down 1.5% from a year ago.

The closely watched metric of total revenue per available seat mile came in at $0.1997, down 3% compared to last year. Yahoo Finance reports.

📊 Costco’s monthly sales growth accelerates, following slowdown earlier this year: After several months of slowing sales growth, Costco Wholesale Corp. rebounded in the early days of summer, sending shares higher in after-hours trade Wednesday.

Costco reported $26.44 billion in sales for the five weeks that ended on July 6, a period that covered Father’s Day, Juneteenth and July 4. The sales figure marked a year-over-year gain of 8% and a month-to-month acceleration of sales growth.

Same-store sales were up 5.8% during that period, which the membership warehouse retailer defined as the the retail month of June. E-commerce sales were up 11.5%.

Those gains came despite a drop in gas prices. However, traffic for the period ticked higher.

Costco shares rose 0.9% after hours. The stock is up 7% so far this year. MarketWatch reports.

🚜 MP Materials partners with Department of Defense to boost US rare earth magnet supply, shares soar: MP Materials said on Thursday it has entered into a public-private partnership with the U.S. Department of Defense to build-out domestic rare earth magnet supply chain and reduce foreign dependency, sending shares up 30% in premarket trading.

The company will construct its second magnet manufacturing facility in the U.S., the '10X Facility', to serve defense and commercial customers. Yahoo Finance reports.

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Benzinga reports.

1) $BTCM: BIT Mining

Total gain: +182.11%

2) $STKH: Steakholder Foods

Total gain: +87.42%

3) $KLG: WK Kellogg

Total gain: +50.45%

4) $MP: MP Materials

Total gain: +35.53%

5) $NRIX: Nurix Therapeutics

Total gain: +31.25%

The closing price of the top three market percent gainers trading near or above $3 on July 9.
Benzinga reports.

*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time

1) $EVOK: Evoke Pharma

Total gain: +166.54%

The company announced that it has received a Notice of Allowance from the United States Patent and Trademark Office for a U.S. patent application covering the use of GIMOTI in patients with moderate to severe gastroparesissymptoms. Benzinga reports.

2) $BMGL: Basel Medical Group

Total gain: +93.98%

The stock appeared to be moving on no notable news.

3) $SCAG: Scage Future

Total gain: +60.71%

The stock appeared to be moving on no notable news.

*Estimate and Actual numbers represent Earnings Per Share in US Dollars


LEVI: Levi Strauss
2Q 2025

After Market Close
Estimate: 0.130
Actual: N/A

VIST: Vista Energy
2Q 2025

After Market Close
Estimate: 2.150
Actual: N/A

WD-40: WDFC
3Q 2025

After Market Close
Estimate: 1.400
Actual: N/A

Time (ET) / Report / Period

8:30 am - Initial jobless claims - July 5

10:00 am - St. Louis Fed President Alberto Musalem speech

“The most important economic stories don’t change, they just repeat.”

- Morgan Housel

Sourced in: “Same As Ever: A Guide to What Never Changes”, by Morgan Housel, published in 2023.