Stocks Edge Higher as S&P 500 “Almost” Nails New All-Time Record…

“I’m almost there”, is what the S&P 500 said after creeping 0.8% today, and an “edge” away from new all time highs. Wall Street’s been waiting for this breakout after all the hell we’ve been through this year (read: tariff chaos), but instead, we get another day of just the tip. As for the Nasdaq, it mooned 0.97%, also just a hair shy of its own all-time high, while the Dow Jones lumbered 404 points higher. 

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Apparently, all it takes to get the market all hot and bothered is a White House spokesperson saying, “Deadlines? Never heard of her.” Karoline Leavitt downplayed July’s tariff deal as “not critical,” which really just means (as the NATO secretary-general calls it): “It’s up to Daddy Trump to decide which country to beef with next.” 

Tech, as usual, did all the heavy lifting. Nvidia moved 0.46% hitting yet another all-time high, while Meta and Alphabet grooved 2.46% and 1.7%. Additionally Marvell and Palantir flashed their goodies with some 5.32% and 1% gains as Micron fumbled the bag (-1%) after teasing strong earnings and then immediately tripping over its own guidance.

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Meanwhile, Bitcoin miners were relevant today after the WSJ leaked that Core Scientific might get acquired by CoreWeave. Apparently, “hybrid miners” (the ones who realized GPUs don’t care what you use them for as long as you pay the electric bill) went absolutely feral: Iren soared 10.45%, Terawulf mooned 15.53%, and Core Scientific exploded 33%. Oh, and CoreWeave was the epitome of Wall Street logic as shares dipped -0.89%. Sounds legit.

Elsewhere, the bean counters over at Jefferies finally looked up from their spreadsheets and decided Kinross Gold is worth buying. The firm hiked the price target by $4, presumably citing that “free cash flow is cool again.” Shares bolted 3.53% on the day. As for Circle, the stablecoin juggernaut went full on “never let them know your next move after getting rinsed earlier in the week. Shares got iced -15%, only for Circle to revive itself back up 12% today. Bigly. 

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Oh, and Nike is up ahead of earnings (2.5%), still pretending people care about Kim Kardashian more than AI chips. Bitcoin’s still chilling at $107,700, having bounced back from its “Middle East panic attack” over the weekend… and the 10-year treasury note was at 4.25%, down from 4.29% at Wednesday's close. 

All in all, the market appears to be in a fantastic mood this week. Especially considering this hasn’t been a regular 14-day period. When war is in the mix, it’s a box of chocolates that are fatally unpredictable… and yet, what we are getting is a party, where the rest of the market that isn’t AI is just happy not to be left outside. Meaning, enjoy it while it lasts, and place your bets accordingly. Until next time, friends… 

If you read all of this, congrats for having a 10 second attention span (better than me). As always, here’s our heatmap for today.

At the time of publishing, Stocks.News holds positions in Alphabet and Meta as mentioned in the article.