Bitcoin reached a fresh record high for the first time since May, hitting a peak of 112,009.39. And Nvidia joined the $4 trillion market cap club, a league of its own.

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July 09, 2025

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US stocks rise, with bitcoin and Nvidia reaching new milestones

The S&P 500 rose 0.6%, the Nasdaq 100 gained 0.7%, and the Russell 2000 advanced by 1.1% on Wednesday.

Bitcoin reached a fresh record high for the first time since May, hitting a peak of 112,009.39. And Nvidia joined the $4 trillion market cap club, a league of its own.

Every S&P 500 sector ETF rose outside of consumer staples, energy, and real estate; utilities was the best-performing. AES, a power provider to hyperscalers, jumped nearly 20% after Bloomberg reported that it’s considering a sale.

Amazon’s Prime Day is looking like a huge flop, with sales reportedly down 41% in Day 1 compared to last year, but no one seems to care: the stock was up on the day and basically trading flat from where it was right before reports of weakness in the first few hours of Prime Day sales surfaced on Tuesday.

Hims & Hers rose 4.5% after announcing it will offer a generic version of Novo Nordisk’s weight-loss shot in Canada next year.

Robinhood rose 3.6% after Bank of America boosted its price target on the brokerage to $112 from $95.

(Robinhood Markets Inc. is the parent company of Sherwood Media, an independently operated media company subject to certain legal and regulatory restrictions.)

Plug Power saw one of the biggest days for call-buying in its long and tumultuous history, propelling shares up 25% amid news that it’s buying a lot of liquid hydrogen from an unnamed partner.

Tilray shares were also a beneficiary of hot options demand, jumping 15%.

Alibaba slumped after rival JD.com announced a $1.4 billion plan to increase its footprint in the food delivery business.

Bitcoin treasury companies are not enough: GameSquare soared 40% after its board approved an ethereum treasury strategy.

— Luke Kawa, Markets Editor

As Nvidia reaches a new milestone, it’s still cheap to be greedy on another rally toward $5 trillion

The implied volatility of three-month call options with a strike price 20% above current levels is pretty low relative to the past few years. Read more.

 
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You’re paying $383 for a plane ticket. About $3.80 is profit for US airlines

Now you see why they go so heavy on the ice in that in-flight ginger ale.

Read more.

SpaceX is discussing plans to sell ~$1 billion worth of employee shares in a deal that would value Elon Musk’s rocket and satellite company at ~$400 billion, per Bloomberg.

 Read more.

  • To speed or not to speed? Tesla and Google’s Waymo disagree
    Experts say going faster makes accidents more likely and potentially more harmful: “ Do we really want computers to make the decision to put other lives at risk because they want to break traffic rules?”
  • Ives: Apple needs to buy Perplexity
    Wedbush Securities analyst Dan Ives says time is running out in the AI race, and Apple needs to leap to the front of the pack with a Perplexity acquisition. 
  • Meta has spent $3.5 billion for a ~3% stake in the company behind Ray-Bans
    Mark Zuckerberg still really wants to make smart glasses happen. 
  • Musk’s Grok spews antisemitic posts after “improvement”
    X’s AI chatbot was told to “not shy away” from “politically incorrect claims” and was soon praising Hitler. The change was rolled back after dozens of offensive responses surfaced.
  • Ripple, Garlinghouse, and XRP are having a great day
    XRP is up, RLUSD partners with BNY, and Garlinghouse is having his moment before the Senate.
  • Over half of Netflix subscribers now watch anime
    The once niche genre is now a battleground in the modern streaming wars.
  • Report: Investors are interested in buying a controlling stake in Starbucks’ ailing China business
    Starbucks has struggled to grow sales in China despite adding more stores. 
  • Linda Yaccarino steps down as CEO of X
    The former NBCUniversal ad executive presided over a chaotic two years at X, always in the shadow of owner Elon Musk. 
  • Jack Dorsey has made a Bluetooth-based messaging app that doesn’t require internet
    Over the weekend, the Twitter cofounder unveiled the beta version of “Bitchat” — an encrypted, decentralized messaging service built on... Bluetooth.
  • Apple, feeling itself on its “F1” hit, puts in a bid for US Formula 1 rights
    Formula 1’s broadcast contract is up next year, and Apple is looking to nudge out Disney.
  • Trump’s copper tariff will weigh heaviest on Chile
    Copper prices hit all-time highs after Trump announced a 50% tariff on imports, putting the world’s top producer in the crosshairs.
  • One of Lucid’s EVs went 749 miles on just one charge
    The new record marks a “significant milestone,” the California-based carmaker said. 
 

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