Dax shrugs off tariffs and Nvidia hits a new milestone
If markets are worried about tariffs, then they're putting a very brave face on things as the Dax hits record highs and Nvidia hits $4 trillion in market cap, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.
Dax at new high despite tariff threats
Stocks continue to broadcast defiance against Trump’s tariff threats, with the Dax the latest index to breach new record highs. This comes even as the world waits to see whether the EU will get one of the now-infamous tariff letters, but equities continue to act as if there will be another round of extensions come 1 August. Reports suggesting that Trump relishes the actual dealmaking process more than an actual resolution seem to suggest that a further delay to tariffs will be forthcoming, although this is an approach fraught with risk.
Nvidia clears the $4 trillion hurdle
The resurgence of the mega-cap tech stocks has been a story for the ages, and it seems there is no stopping Nvidia. Investor faith in Trump’s TACO trade is only surpassed by their fervent devotion to the cult of Jensen Huang, who has ridden the AI wave to such incredible effect. Nvidia’s earnings are seven weeks away, giving plenty of time for this euphoria to run yet further.
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