Wall Street stock indices surged on Wednesday as investors shrugged off President Donald Trump’s latest offensive tariffs.

At 9:47 AM ET, the Dow Jones Industrial Average rose 286.20 points, or 0.65%, to 44,526.96, the S&P 500 gained 39.70 points, or 0.64%, to 6,265.22 and the Nasdaq Composite gained 195.72 points, or 0.95%, to 20,614.19.

On Tuesday, Trump announced 50% tariff on copper and vowed to slap long-threatened levies on semiconductors and pharmaceuticals.

On Monday, he jolted 14 trading partners with a fresh wave of tariff warnings.

Wednesday (July 9) was initially the deadline for countries to make trade deals with the US, but the window for negotiations has been extended by Trump to August 1.

In the bond market, the yield on the 10-year Treasury was at 4.38%, down from 4.40% late on Tuesday.

Gainers and Losers

Artificial intelligence chip giant Nvidia’s market valuation rising to $4 trillion after its stock jumped 2.2%. it is the first company to ever hit $4 trillion in market value.

Microsoft shares added 1.6%.

AES Corp shares soared 14.3% after Bloomberg reported that the power provider was exploring options, including a sale.

UnitedHealth Group stock fell 2% after the Wall Street Journal reported that the US Department of Justice was investigating how the health insurer deployed doctors and nurses to gather diagnoses that increased its Medicare payments.

Bullion

Gold prices declined on Wednesday as the US dollar strengthened.

Spot gold was down 0.1% at $3,297.19 per ounce, as of 9:23 AM ET (1323 GMT). US gold futures fell 0.3% to $3,306.10.

Spot silver fell 1% to $36.40 per ounce, platinum shed 0.3% to $1,355.69 and palladium lost 1.5% to $1,094.44.

Oil prices were mixed on Wednesday as UAE and Saudi Aramco signalled solid demand for OPEC barrels.

US benchmark crude was up 0.1%, while Brent crude, the international standard, was down 0.3%.