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Nvidia hits $4T market cap, Merck acquires Verona Pharma: Morning Buzz

The major averages were mostly higher near noon, driven by cautious optimism following an overnight lull in volatility. Traders continue to monitor President Trump’s latest round of tariffs, which are set to take place on August 1 and include hefty duties on copper, semiconductors, and pharmaceuticals. Meanwhile, investors are also likely keeping an eye on a Wall Street Journal report saying that Kevin Hassett and Kevin Warsh have emerged as contenders for Federal Reserve chair. 

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Markets will also track incoming Q2 earnings, especially how companies are addressing trade-related cost burdens. Investors await clarity on tariffs, central bank signals, and corporate reports.

Looking to commodities, gold prices are flat, while oil rose fractionally following yesterday’s API crude numbers.

Check out this morning’s top movers from around Wall Street, compiled by The Fly. Also, subscribe to daily Fly By on YouTube if you want to know how the markets will open, which stocks will be moving and why. 

1. STOCK NEWS:

2. WALL STREET CALLS:

3. AROUND THE WEB:

  • Microsoft-backed (MSFT) OpenAI has overhauled its security, adding biometric checks in its offices and isolating sensitive info, to protect IP such as model weights from spying, FT says
  • Amazon’s (AMZN) Prime Day is being affected by President Donald Trump’s trade war, with some brands opting out of the sale and some shoppers planning to pull back due to tariffs, Bloomberg reports
  • Apple (AAPL) is in discussions to acquire the U.S. rights to screen Formula 1 as the company works to continue the success of its hit movie based on the race car series, FT reports
  • The Justice Department’s criminal healthcare-fraud unit is investigating UnitedHealth’s (UNH) Medicare billing practices, including looking into how the company deploys doctors and nurses to gather diagnoses that increase its payments, WSJ says
  • Thai Airways could exercise an option to purchase more planes from Boeing (BA) as part of Thailand’s negotiations with the U.S., Reuters reports

4. MOVERS:

5. EARNINGS/GUIDANCE:

INDEXES:

Near midday, the Dow was up 82.21, or 0.19%, to 44,322.97, the Nasdaq was up 123.43, or 0.60%, to 20,541.89, and the S&P 500 was up 20.29, or 0.33%, to 6,245.81.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

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