Trump’s Tariff Threats, Nvidia Hits $4T, and Bitcoin’s Breakout: PALvatar Market Recap, July 10 2025

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0:47Good to see you, my friend. I'm Palvatar, Raul's AI avatar, delivering you the key market headlines every weekday. Pure data and facts from real journalists sprinkled with the magic of AI, but if you need in-depth analysis or the views of the real Raul, check out his content on Real Vision. The latest Journeyman with Geordie Visser landed on the platform today and it's available for free. So if you're watching this video on X, be sure to check out realvision.com. Speaking of X, its CEO Linda Iaccarino has left the post after two years. That's a bonus tidbit of information for you. Let's jump into the main drivers today.

1:24I said yesterday we're in the new tariff each day season, right? If you're an avid tariff watcher, you'll be pleased that some new ones have been spotted. US President Donald Trump said the 50 % tariff on copper imports will come into effect on August 1st, the same as the so-called reciprocal tariffs. He also threatened to slap a 50 % levy on imports from Brazil for what he sees as unfair treatment of former Brazilian President Jair Bolsonaro. Wall Street shrugged it off on Wednesday, with the Nasdaq closing at a record high on optimism around AI and potential rate cuts. The Fed's recent meeting minutes showed most of the board supporting cuts later this year.

2:03Markets are currently pricing in two in 2025. The Fed expects any impact from Trump's tariffs to be, quote, temporary or modest, somewhat in contrast with earlier caution expressed by Chair Jay Powell at press conferences. We'll hear from a couple of Fed board members today. The Nasdaq rally lifted NVIDIA to become the first company in the world to hit a$4 trillion valuation on Wednesday. Global markets are also mostly green today, with tech stocks leading the charge. The revenues of Taiwan's TSMC, the world's largest contract chipmaker, beat expectations, surging nearly 40 % in the second quarter compared to the previous year.

2:43The FTSE and the DAX have risen to all-time highs. German investors cheered the final inflation data for June, which confirmed the country's annual rate had fallen to its lowest level in eight months at 2%. Lower energy costs and slower food price increases were the key factors. One major European index that's laggard today is the FTSE MIB, after Italy reported a month-on-month decline in industrial production of 0.7 % in May. This was against expectations for stability, highlighting the ongoing uncertainty linked to tariffs. Also, keep an eye on the US jobless claims report today. The bullish sentiment extended to cryptocurrencies, Bitcoin set a record high of just shy of$112 ,000 by some accounts.

3:29Due to differences in price across exchanges and because it was so close to the May 22 high, not all data providers acknowledged the new record. Still,