Kellogg sold, Delta in focus, Nvidia’s new milestone, Trump’s tariffs: Live Updates
President Trump will wield 50% copper tariffs on August 1 as he promises more to come with countries such as Brazil in the crosshairs. Delta’s good news, Nvidia scores the first $4 trillion market cap milestone, lifting the Nasdaq to a record. Cereal giant Kellogg gets $3 billion offer, as McDonald’s brings back fan favorite. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
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Traders work on the floor of the New York Stock Exchange in New York City. (Reuters)
Stocks finished higher on Thursday as investors shook off the latest tariff developments.
The Dow Jones Industrial Average climbed 192.34 points, or 0.43%, while the S&P 500 and Nasdaq Composite rose 0.27% and 0.09%, respectively.
President Donald Trump on Wednesday announced a 50% tariff on all Brazilian imports, separate from sector-specific tariffs, beginning on Aug. 1.
In a letter to Brazilian President Luiz Inácio Lula da Silva that he posted on his Truth Social account on Wednesday, Trump cited the South American country's "unfair" trade relationship with the U.S., its treatment of former President Jair Bolsonaro, its attacks on free elections and violations of Americans' free speech rights as reasons for the tariffs.
"Due in part to Brazil's insidious attacks on free elections, and the fundamental free speech rights of Americans … starting on August 1, 2025, we will charge Brazil a tariff of 50% on any and all Brazilian products sent into the United States, separate from all sectoral tariffs," Trump wrote in the letter. "Goods transshipped to evade this 50% Tariff will be subject to that higher Tariff."
Photo by Andrew Harnik/Getty Images
| Symbol | Price | Change | %Change |
|---|---|---|---|
| NVDA | $164.06 | 1.18 | 0.73 |
| I:COMP | $20,618.09 | 6.75 | 0.03 |
President Trump is meeting Nvidia's Jensen Huang at the White House today, a source close to Fox News confirms.
The meeting comes a day after Nvidia became the first company to reach $4 trillion in market cap and follows Trump's touting of the AI chip darling's milestone as well as U.S. stocks and Bitcoin hitting record highs.
"Tech Stocks, Industrial Stocks, & NASDAQ, HIT ALL-TIME, RECORD HIGHS! CRYPTO, “Through the Roof.” NVIDIA IS UP 47% SINCE TRUMP TARIFFS. USA is taking in Hundreds of Billions of Dollars in Tariffs. COUNTRY IS NOW “BACK.” A GREAT CREDIT! FED SHOULD RAPIDLY LOWER RATE TO REFLECT THIS STRENGTH. USA SHOULD BE AT THE “TOP OF THE LIST.” NO INFLATION!!!" Trump posted on Truth Social.
Bitcoin sailed past $113,000 marking another new record for the biggest crypto.
| Symbol | Price | Change | %Change |
|---|---|---|---|
| NVDA | $164.02 | 1.14 | 0.70 |
| MSFT | $500.91 | -2.60 | -0.52 |
AI darling Nvidia became the first company to reach $4 trillion in valuation and now eyes turn to the next candidate which could potentially be Microsoft.
"With Nvidia hitting a historical $4 trillion market cap, we expect Microsoft will also hit the $4 trillion club this summer and then over the next 18 months focus will be on the $5 trillion club....as this tech bull market is still early being led by the AI Revolution" wrote Wedbush analyst Dan Ives.
| Symbol | Price | Change | %Change |
|---|---|---|---|
| SP500 | $6,287.37 | 24.11 | 0.38 |
| XLY | $221.51 | 2.56 | 1.17 |
| XLRE | $41.80 | 0.40 | 0.97 |
| XLV | $136.76 | 1.27 | 0.94 |
| XLB | $92.54 | 0.76 | 0.83 |
The S&P 500 hit a fresh record Thursday afternoon led by consumer discretionary, real estate and healthcare stocks. Industrials and tech names lagged.
The benchmark is on pace for the 8th record close of year.
(Getty Images)
Mortgage rates ticked higher for the first time in weeks, mortgage buyer Freddie Mac said Thursday.
Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage rose to 6.72% from last week's reading of 6.67%.
The average rate on a 30-year loan was 6.89% a year ago.
"After declining for five consecutive weeks, the 30-year fixed-rate mortgage moved slightly higher following a stronger than expected jobs report," said Sam Khater, Freddie Mac’s chief economist. "Despite ongoing affordability challenges in the housing market, we are seeing home purchase and refinance applications respond to the downward trajectory in rates, increasing by 25% and 56%, respectively, compared to the same time last year."
The average rate on the 15-year fixed mortgage climbed to 5.86% from last week's reading of 5.8%. One year ago, the rate on the 15-year fixed note averaged 6.17%.
| Symbol | Price | Change | %Change |
|---|---|---|---|
| DAL | $57.02 | 6.32 | 12.46 |
Delta Airlines is restarting its financial guidance. The move sent shares up by double-digits on Thursday currently on pace for the largest percent increase since April 2025, when it rose 23.38%, as tracked by Dow Jones Market Data Group.
Getty Images
"As we look to the second half of our centennial year, we remain focused on executing our strategic priorities and managing the levers within our control to deliver strong earnings and cash flow. Reflecting our confidence in the business, we are restoring financial guidance with an expectation for earnings per share of $5.25 to $6.25 and free cash flow of $3 to $4 billion, consistent with our long-term free cash flow targets" CEO Ed Bastian said it is earnings release.
| Symbol | Price | Change | %Change |
|---|---|---|---|
| MCD | $298.33 | 5.31 | 1.81 |
Goldman Sachs turned bullish on McDonald's upgrading the stock to a buy rating with a $345 price target, as reported by SeekingAlpha.
After some misses, the firm says the company's menu innovations and value meals are resonating with consumers.
The fast-good giant returned a fan favorite to its menu today, after a nine year hiatus.
Shares of Mickey D's are little changed this year.
Tom Cruise may be one of the world's biggest Hollywood super stars but when it comes to taking direction he's just like the rest of hard working Americans.
| Symbol | Price | Change | %Change |
|---|---|---|---|
| IMAX | $26.40 | 0.10 | 0.38 |
IMAX CEO Richard Gelfond recalls how Cruise wanted his latest franchise of Mission Impossible to get the most time in IMAX theaters, more than the norm.
Gelfond offered him a deal to make that happen.
President Donald Trump (L) and Federal Reserve Chairman Jerome Powell (R). (Getty Images)
President Donald Trump on Thursday again called for Federal Reserve Chairman Jerome Powell to lower interest rates.
"'Too Late' DEMEANS THE GREAT CREDIT OF THE USA," Trump said. "We are now, again, the Number One Credit in the World! 'Gigantic Comeback.' The Fed Rate should be reflective of this. We should be at the top of the list!!! LOWER THE RATE!!!"
Trump, during a Cabinet meeting on Tuesday, called for Powell to resign so that he can appoint a new central bank chair who will lower interest rates.
Trump was asked about allegations raised by some of his allies suggesting that the Fed chair lied in his testimony to Congress about the renovation project at the Federal Reserve's headquarters. The president was asked during a press availability whether Powell should step down if he misled Congress.
"Well, then he should resign immediately. We should get somebody in there that's going to lower interest rates," Trump replied. "It's OK with me, I think he's terrible. I think, look, we're paying – I call him Too Late. T-o-o, too late, like 'Too Tall' Jones for the Dallas Cowboys. Too Late," Trump said.
| Symbol | Price | Change | %Change |
|---|---|---|---|
| KLG | $17.50 | 0.59 | 3.49 |
Italian food company the Ferrero Group, behind favorites such as Nutella, is paying $3.1 billion for cereal maker WK Kellogg or $23.00 per share, the companies announced Thursday, sending shares of the cereal maker soaring.
As of yesterday, WK Kellogg, which makes Fruit Loops, Frosted Flakes and many other cereals, was valued around $1.5 billion so the deal commanding a higher premium. The Wall Street Journal was first to report deal talks Wednesday.
The company plans to invest and grow in these well-known American brands including:
Kellogg's Frosted Flakes
Kellogg's Froot Loops
Kellogg's Frosted Mini Wheats
Kellogg's Special K
Kellogg's Rice Krispies
Kellogg's Raisin Bran
Kashi
Bear Naked
Ahead of the deal confirmation. shares are down nearly 3% this year.
Bitcoin, the largest crypto currency by market value, hit a fresh all-time high Wednesday closing at $112,021.91.
It's gained 119.71% from its 52-week intraday low of $49,314.04 on August 5, 2024 as tracked by Dow Jones Market Data Group.
Copper, the industrial metal leader, will be used by President Donald Trump as a negotiating tool.
"I am announcing a 50% TARIFF on Copper, effective August 1, 2025, after receiving a robust NATIONAL SECURITY ASSESSMENT. Copper is necessary for Semiconductors, Aircraft, Ships, Ammunition, Data Centers, Lithium-ion Batteries, Radar Systems, Missile Defense Systems, and even, Hypersonic Weapons, of which we are building many. Copper is the second most used material by the Department of Defense! Why did our foolish (and SLEEPY!) 'Leaders' decimate this important Industry? This 50% TARIFF will reverse the Biden Administration’s thoughtless behavior, and stupidity. America will, once again, build a DOMINANT Copper Industry. THIS IS, AFTER ALL, OUR GOLDEN AGE!" Trump posted on Truth Social late Wednesday.
President Donald Trump has declared a 50% tariff on all Brazilian imports, separate from sector-specific tariffs, beginning on Aug. 1, 2025, and he is promising more to come.
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