Nvidia Reaches $4 Trillion: Wall Street's Surging Megacap Stocks Amid Trade Tensions

Nvidia briefly reached a $4 trillion valuation, leading gains in the S&P 500, which saw a rise following the Federal Reserve's recent meeting minutes. These minutes revealed narrow backing for a possible rate cut in July, highlighting ongoing caution among policymakers regarding Trump's import tariffs' inflationary impact.

Much of the market's strength came from megacap firms like Microsoft and Amazon, as investors showed a preference for perceived safer options amidst trade uncertainties. President Trump continued his aggressive trade stance, proposing significant tariffs across multiple countries, including a 50% tariff threat on copper imports.

Meanwhile, individual stocks like AES Corp and Boeing saw significant movements due to company-specific news, whereas UnitedHealth Group faced pressure from regulatory scrutiny. Overall, advancing issues outpaced decliners on both the NYSE and Nasdaq, as investors poised themselves for upcoming economic indicators, notably Thursday's jobless claims data.

(With inputs from agencies.)