(Updates with closing US market levels)

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Nvidia ( NVDA ) briefly rises to $4-trillion valuation

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Trump issues final tariff notices to 7 trading partners

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Bitcoin hits record high

By Caroline Valetkevitch

NEW YORK, July 9 (Reuters) - Major stock indexes rose on

Wednesday as Nvidia ( NVDA ) briefly climbed to a $4-trillion valuation,

while the euro edged lower, with the Trump administration

getting closer to a deal with its biggest trading partner, the

European Union.

U.S. President Donald Trump issued final tariff notices to

seven minor trading partners.

Bitcoin rose to an all-time high near $112,000 late on

Wednesday, helped by an increase in risk appetite and persistent

institutional demand.

U.S. stocks held higher after minutes from the Federal

Reserve's June 17-18 meeting showed only "a couple" of officials

at the meeting said they felt interest rates could fall as soon

as this month.

Most policymakers remained worried to some degree about the

inflationary pressure they expect to come from Trump's use of

import taxes to reshape global trade.

Trump on Tuesday broadened his trade war, announcing he

would impose a 50% tariff on imported copper. The move sent U.S.

copper prices soaring and U.S. stock prices lower. He also said

he would soon introduce levies of up to 200% for

pharmaceuticals.

U.S. copper futures on Wednesday widened their premium to

the London benchmark.

More developments are awaited in the trade war after Trump

told 14 nations on Monday they will face sharply higher tariffs

from a new deadline of August 1.

"Certainly President Trump and the administration have shown

a willingness to change course, and what's on the table today

doesn't necessarily mean it will be on the table tomorrow," said

Oliver Pursche, senior vice president at Wealthspire Advisors in

Westport, Connecticut.

"Investors I think are ignoring that noise, and the reason

they're ignoring that noise is that the greatest fear of the

tariffs was they were going to create a significant amount of

inflationary pressure and economic disorder, and it hasn't

happened on a broad basis," he said.

Supporting stocks, Nvidia ( NVDA ) shares closed up 1.8% and

the company briefly eclipsed a $4-trillion market cap during the

session, becoming the first public company in the world to

breach that threshold, before closing the session at $3.9

trillion.

"Anytime you have something like this happening in the

market, which is an historic event, it's usually good for the

general market. It shows that investors are focusing on the

future. And that's what the stock market is all about," said

Peter Cardillo, chief market economist at Spartan Capital

Securities in New York.

The Dow Jones Industrial Average rose 217.54 points,

or 0.49%, to 44,458.30, the S&P 500 gained 37.74 points,

or 0.61%, to 6,263.26 and the Nasdaq Composite rose

192.87 points, or 0.95%, to 20,611.34.

MSCI's gauge of stocks across the globe rose

4.99 points, or 0.54%, to 924.30. The pan-European STOXX 600

index ended up 0.78%.

The euro slipped 0.09% to $1.171 as investors

weighed the likelihood that the EU would not receive a tariff

letter and could secure exemptions from the U.S. baseline rate

of 10%, EU sources familiar with the matter told Reuters.

Despite recent gains, the dollar index, which

measures the greenback against six major peers, is still down

more than 6% since Trump on April 2 announced his "Liberation

Day" reciprocal tariffs.

The New Zealand dollar was last up 0.03% at $0.59

after the country's central bank left the benchmark interest

rate unchanged, as expected, noting near-term inflation risks.

U.S. Treasury yields fell after the Treasury saw strong

demand for a $39 billion sale of 10-year notes, suggesting that

concerns about investors stepping away from the market appear so

far to be unfounded.

The yield on benchmark U.S. 10-year notes was

last down 7.7 basis points on the day at 4.34%.

Oil prices were little changed, with investors weighing

strong U.S. gasoline demand data and attacks on shipping in the

Red Sea.

Brent crude futures rose 4 cents, or 0.06%, to

settle at $70.19 a barrel. U.S. West Texas Intermediate crude

gained 5 cents, or 0.07%, to settle at $68.38.