July 10 (UPI) — The Dow Jones Industrial Average, Nasdaq Composite and S&P 500 each made significant gains on Thursday following the potential of 50% tariffs on copper and Brazilian imports.<\/p>\n
The Dow closed at 44,458.30 on Wednesday and briefly traded above 44,770 during the afternoon hours, according to MarketWatch<\/a>.\n<\/p>\n The S&P 500 was up by about 25 points and 0.4% at better than 6,288 during afternoon trading after opening at 6,266.80 and reaching a high of 6,289.04, which is a 52-week high.<\/p>\n Thursday’s trading elevated the S&P 500 to a nearly record high, which was established on July 3, when it closed at 6,279.35 after reaching an intraday high of 6,284.65 on that same day.<\/p>\n The Nasdaq Composite likewise reached a 52-week high on Thursday and was trading at 20,646.66 during the afternoon, which is up 34.07 and 0.17% for the day.<\/p>\n The market rallies continue a months-long climb<\/a> for the stock market and occurred a day after President Donald Trump<\/a> announced 50% tariffs on copper and products sourced in Brazil on Aug. 1.<\/p>\n