Live Nasdaq Composite: Tech Eyes New Highs as Markets Diverge
Summary
The Nasdaq Composite is testing new highs amidst a divergent market. Coinbase partnered with Perplexity AI for crypto data, while its stock dipped slightly. Tesla gained ahead of its shareholder meeting. Economic news includes lower jobless claims and new tariffs. AMD is gaining analyst attention with a 'buy' rating and $200 price target from HSBC, challenging Nvidia in AI chips. MP Materials, Delta Airlines, and WK Kellogg saw significant gains due to strategic deals and strong earnings, highlighting selective investor focus.
Live Nasdaq Composite: Tech Eyes New Highs as Markets Diverge
Publication Date: July 10, 2025
Live updates continue to track the dynamic movements across the financial markets, with particular attention on the tech sector as the Nasdaq Composite flirts with new all-time highs. The day's trading has seen indices oscillate, reflecting a nuanced market sentiment amidst significant corporate and economic developments.
Coinbase Forges Strategic AI Partnership
In a notable development, digital asset exchange Coinbase (Nasdaq: COIN) has announced a strategic partnership with AI giant Perplexity AI. This collaboration, unveiled at 10:12 am by Gerelyn Terzo, is reportedly aimed at providing traders with real-time, trusted crypto data and information to facilitate better decision-making. Despite the positive implications of this deal for data accessibility and market transparency in the crypto space, Coinbase stock is currently trading lower by 0.60%. This dip could be attributed to broader market movements or profit-taking after recent gains, rather than a negative reaction to the partnership itself. Investors should monitor how this integration impacts user engagement and trading volumes on the Coinbase platform in the coming quarters.
Tesla and Broader Market Dynamics
Tesla (Nasdaq: TSLA) is also in focus, with its stock gaining 2.4% today, even as it remains down 24.8% year-to-date. The company is set to hold its annual shareholder meeting in early November, an event keenly watched for updates on production, new models, and strategic direction. The broader market, meanwhile, is experiencing a period of indecision. After the Nasdaq Composite clinched a fresh all-time high in yesterday's session, today's early morning trading saw the three major stock market indices relatively flat, indicating a cautious mood among investors.
Economic Headwinds and Sector Spotlights
Economic news continues to shape market sentiment. The Trump administration's recent imposition of a 50% tariff on Brazilian imports signals ongoing trade tensions, which could introduce volatility. On a more positive note, U.S. jobless claims moved lower last week, surprising economists and offering a glimmer of strength in an otherwise mixed labor market. This suggests underlying resilience despite broader economic uncertainties.
In the semiconductor sector, HSBC analysts have highlighted Advanced Micro Devices (Nasdaq: AMD). They believe AMD's recent AI chip solution has significantly elevated its profile in the artificial intelligence landscape, positioning it as a formidable competitor to Nvidia (Nasdaq: NVDA). HSBC has reiterated a 'buy' rating on AMD shares, setting an ambitious price target of $200 per share, which implies an upside potential of approximately 44%. This comes on the heels of Nvidia making history yesterday by becoming the first company to cross the $4 trillion market capitalization threshold, underscoring the immense growth potential within the AI chip market.
Market Performance Snapshot and Key Movers
As of morning trading, the major indices show mixed performance:
- Dow Jones Industrial Average: Up 21.94 points (+0.05%)
- Nasdaq Composite: Down 54.91 points (-0.27%)
- S&P 500: Down 5.52 points (-0.09%)
Several individual stocks are making significant moves:
- MP Materials (NYSE: MP): Soaring 55% after securing a rare Earth-mining contract with the Department of Defense. This multi-billion dollar deal, including a $400 million capital injection for preferred shares and a warrant, strengthens the U.S. magnet supply chain and aligns with strategic national interests to reduce reliance on foreign sources.
- Delta Airlines (NYSE: DAL): Up 12% following strong quarterly results that exceeded expectations for H1 2025. The airline also announced a 25% increase in its quarterly dividend payout, starting in September, signaling confidence in stabilizing travel demand.
- WK Kellogg (NYSE: KLG): Skyrocketing 30% after agreeing to a $3.1 billion merger with Italy's Ferrero, the company behind Nutella. This blockbuster acquisition highlights ongoing consolidation trends in the consumer goods sector.
Investors should closely monitor these developments, as they provide insights into sector-specific trends, corporate strategies, and the broader economic landscape. The divergence in market performance suggests a selective approach by investors, favoring companies with strong fundamentals, strategic partnerships, or those benefiting from significant industry tailwinds.