Nvidia Hits $154.93 Record Close as Nasdaq Climbs; Dow Slides to 43,195

Nasdaq, S&P 500, and Dow Diverge as Investors React to AI Boom and Fed Uncertainty

NVIDIA (NVDA) Sets All-Time High as Nasdaq Advances

The tech-heavy Nasdaq Composite (^IXIC) rose 0.3% Wednesday, lifted by NVIDIA (NVDA)’s 4% rally to a new closing high of $154.93. Loop Capital upgraded NVDA’s price target to $250, forecasting a $6 trillion valuation as the AI chip market surges to $2 trillion by 2028. Nvidia's dominance, pricing power, and demand in AI infrastructure place it at the epicenter of the next wave of data center buildouts.

S&P 500 (^GSPC) Eyes New Peak Amid Surging Orders and Soft GDP

The S&P 500 inched up 0.35% to 6,113.64, nearing its record high of 6,144.15. While valuation multiples are above five- and ten-year averages, they remain well below 2021 extremes. Stocks in the highest decile now trade at 63x forward earnings, compared to 104x at the previous market peak. Durable goods orders jumped 16.4% in May—more than double consensus—helping offset Q1 GDP’s downward revision to -0.5%.

Dow Jones (^DJI) Slips as Tariff-Fueled Inflation and Fed Rift Weigh

The Dow Jones Industrial Average (^DJI) lost 0.3%, or over 100 points, closing at 43,195.65. Chair Jerome Powell warned that inflationary effects of tariffs haven’t fully materialized, but are expected to hit consumers “in coming months.” Jobless claims fell to 236,000—undershooting estimates—and bolstered economic resilience, even as policy tensions between Powell and President Trump intensify.

Micron (MU) Surpasses Earnings Forecasts, Driven by AI Demand

Micron (MU) beat analyst expectations with EPS of $1.91 (vs. $1.60 est.) and revenue of $9.3 billion. High Bandwidth Memory (HBM) demand remains strong, particularly from customers like NVIDIA (NVDA) and Apple (AAPL). Micron’s $30 billion new investment—part of its $200 billion total U.S. manufacturing expansion—reinforces its leadership in AI-capable chip production. The stock is up 50% year-to-date.

Campbell Soup (CPB) Hits 13-Year Low on Weak Sales

Campbell’s (CPB) dropped 2% to $31.37, marking a new low not seen since 2012. The company’s snack segment—home to brands like Goldfish and Kettle—continues to underperform, dragging overall sales. CPB has posted three consecutive quarters of earnings declines and is down nearly 29% Y/Y. Investor sentiment worsened after the death of longtime major shareholder Mary Alice Dorrance Malone.

Coinbase (COIN) Pops as Analysts Raise Forecast to $510

Coinbase (COIN) jumped 3% to $362.70 after Bernstein boosted its price target to $510. Analysts cited growth in custody, lending, and infrastructure services beyond trading, dubbing COIN the “Amazon of crypto.” The diversified revenue model is reshaping perceptions amid a rally in digital asset platforms.

Tesla (TSLA) Tumbles on EU Sales Decline

Tesla (TSLA) plunged over 5% after EU sales dropped 41% in May, marking five straight months of declines. Despite gains across the tech-heavy Nasdaq 100 (^NDX), TSLA was one of the few mega-caps in the red, reinforcing concerns over European market penetration and broader EV demand softness.

Hims & Hers (HIMS) Under Scrutiny After Novo Nordisk Exit

HIMS rose 1.74% to $42.16 even as its partnership with Novo Nordisk (NVO) collapsed over compounded drug disputes. With 15% of revenue tied to these offerings, legal and regulatory risks now loom. CEO Andrew Dudum cited “anticompetitive demands” and affirmed a commitment to platform independence.

BP (BP) Spikes, Then Fades on Takeover Buzz from Shell (SHEL)

BP surged 8% intraday following rumors of a potential $80 billion buyout from Shell (SHEL), before settling with just a 1% gain after Shell denied the talks. BP has recently redirected focus toward fossil fuels, aligning with activist demands for profitability over ESG transitions.

Reddit (RDDT), Oracle (ORCL), and BlackBerry (BB) Extend Tech Momentum

Reddit (RDDT) gained 5% on expanded AI offerings and advertising momentum, up 40% MTD. Oracle (ORCL) and Micron (MU) posted leading gains in the tech sector with 36% monthly performance. Meanwhile, BlackBerry (BB) soared 10% on robust cybersecurity demand and revised guidance of $508–$538 million in FY26 revenue.

Dollar Index Plunges as Fed Transition Looms

The WSJ Dollar Index hit 94.37, down 1.6% this week and at its lowest point since 2023. A Wall Street Journal report suggesting Trump may preemptively name Jerome Powell’s successor spooked currency markets, adding pressure on the greenback amid rate cut speculation.

Inflation Warnings and Rate Speculation Keep Wall Street Cautious

Markets await the PCE inflation report due Friday. Powell reiterated that tariffs will likely lift prices ahead and emphasized caution. Meanwhile, Fed members appointed by Trump are signaling potential rate cuts as early as July. The economy shows conflicting signs—durable goods are soaring, but GDP shrank -0.5% in Q1.

Trading Verdict: Nasdaq and AI Stocks Bullish, Dow and CPB Weak

BUY: NVDA, MU, COIN, RDDT, BB
HOLD: XLK, HIMS, ORCL, MSFT, GOOGL
SELL: TSLA, CPB, PENN
WATCHLIST: BP-SHEL merger risk/reward, TFC rebound opportunity, PCE as Fed trigger

All financial data reflects prices and earnings as of June 26, 2025.

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