Bitcoin hit a new all-time high. NVDA reached a market cap of $4 trillion.

At the end of Wednesday, the Dow Jones (US30) Index was up 0.49%. The S&P 500 (US500) Index rose by 0.61%. The Nasdaq (US100) technology Index closed higher by 0.94%. US stocks closed higher on Wednesday as investors assessed the impact of tariff expansion on corporate earnings and future Federal Reserve policy. Minutes from the Fed’s June meeting showed that officials view the recently announced tariffs as inflationary, prompting them to delay resuming interest rate cuts that were previously planned for earlier this year. The announcement came shortly after President Trump expanded the list of countries subject to US tariffs, effective August 1, to include the Philippines, Iraq, and possibly Brazil.

Nvidia (NVDA) became the first company to reach a market value of $4 trillion. Shares of the leading chipmaker rose about 2.4% to $164, thanks to continued growth in demand for artificial intelligence technology. Nvidia’s chips and related software are considered global leaders in the creation of artificial intelligence products.

The Mexican peso strengthened above 18.6 per US dollar, reaching an 11-month high, as investors assessed the ongoing price pressure against a strong external balance. The unexpected rise in core inflation in June to 4.24%, the highest level since April 2024, caused the market to maintain expectations of cautious rate cuts by the Bank of Mexico, which allowed it to maintain a significant margin of real yield even after the June 26 decision to cut the benchmark rate by 50 basis points to 8%. In the external market, a slight recovery in the US dollar against the backdrop of renewed threats of tariffs was offset in the local market by Mexico’s progress in negotiations to delay or soften retaliatory duties.

Bitcoin (BTC/USD) reached a new record high of $112,000, as investors shifted to riskier assets amid a broad rally in the stock market. Since the beginning of the year, Bitcoin has risen by more than 18% due to sustained institutional demand, as traditional financial players increasingly embrace the world’s largest cryptocurrency. The Trump administration’s pro-cryptocurrency stance has also bolstered the digital asset market, driving fresh capital into the sector.

European stock markets were mostly higher on Wednesday. Germany’s DAX (DE40) rose by 1.42%, France’s CAC 40 (FR40) closed up 1.44%, the Spanish IBEX35 (ES35) added 1.24%, and the British FTSE 100 (UK100) closed 0.15%. On Wednesday, the DAX index continued to rise, climbing more than 1% and surpassing the 24,500-point mark, reaching a new all-time high with the support of defensive stocks, as traders await news on the progress of trade negotiations. President Trump said he would likely notify the EU of the proposed export duty rate in the coming days, adding that negotiations with the EU were progressing well. The European Commission recently reiterated its goal of reaching a framework agreement with the US on the trade dispute by the end of this week.

WTI oil prices rose slightly on Wednesday and closed at $68.4 per barrel as traders assessed an unexpected increase in US oil inventories amid renewed tensions in the Red Sea and forecasts of a decline in US production. The EIA reported a 7.1 million barrel increase in US oil inventories for the week ending July 4, contrary to expectations of a 2.1 million barrel decline. Prices were supported by renewed Houthi attacks in the Red Sea, including an attack that sank a cargo ship and killed at least four crew members.

The US natural gas (XNG/USD) prices fell 5% to below $3.2 per million British thermal units (MMBtu) on Wednesday, the lowest in six weeks, due to rising supply and high inventory levels. In July, production in the 48 contiguous US states averaged 106.7 billion cubic feet per day (bcfd), surpassing June’s record high of 106.4 bcfd. Gas inventories remain about 6% above the five-year average, and analysts expect another above-average weekly increase — the 11th in 12 weeks. Despite this surplus, demand remains high due to forecasts of hotter-than-usual weather through the end of July, leading to increased electricity consumption for air conditioning.

Asian markets traded without a single trend. Japan’s Nikkei 225 (JP225) rose by 0.33%, China’s FTSE China A50 (CHA50) added 0.18%, Hong Kong’s Hang Seng (HK50) lost 1.06%, and Australia’s ASX 200 (AU200) showed a negative result of 0.61% yesterday.

The Central Bank of Malaysia lowered its base interest rate by 25 basis points to 2.75% at its monetary policy meeting in July 2025, in line with market expectations. This was the first rate cut in five years, underscoring the central bank’s desire to support domestic economic momentum amid weakening growth prospects and rising uncertainty in global trade. In the first five months of the year, headline and core inflation averaged 1.4% and 1.9%, respectively. Meanwhile, Malaysia’s GDP grew by 4.4% year-on-year in the first quarter of 2025, in line with early estimates but below the revised growth rate of 4.9% in the previous quarter.