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S&P 500 up slightly in early trading

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50% tariff on US copper imports to begin August 1, says

Trump

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Bitcoin holds near high

(Update with early US trading)

By Caroline Valetkevitch

NEW YORK, July 10 (Reuters) - Stock indexes edged higher

on Thursday, with investors weighing the latest trade

announcements from U.S. President Donald Trump, while the

Brazilian real recovered some losses following Trump's

announcement of a 50% tariff on goods from Brazil.

Trump also late Wednesday confirmed a 50% tariff would be

imposed on copper, and said it would start August 1. U.S. copper

prices were last higher on the day.

The Brazilian real volatility gauges surged to

their highest levels since late April late on Wednesday, and the

real had fallen as much as 2.3%. On Thursday, the dollar

was last down 0.4% against the real, while Brazilian stocks

were down about 0.7%.

Brazilian President Luiz Inácio Lula da Silva vowed

retaliation against unilateral tariff hikes, and called a

meeting with ministers on Thursday.

But reactions in the broader market to Trump's latest moves

have been less severe than in April, possibly reflecting

expectations that ongoing negotiations between Washington and

its trade partners could yield agreements before the deadline.

Investors are also gearing up for second-quarter earnings,

looking for signs of an impact from Trump's trade war launched

on April 2.

Bruce Zaro, managing director at Granite Wealth Management

in Plymouth, Massachusetts, said the market appears to be in a

holding pattern ahead of the reports from S&P 500 companies.

JPMorgan Chase ( JPM ) is due to release results Tuesday,

essentially kicking off the reporting period.

"There's been great skepticism with all of the analysts that

follow the S&P 500, how they've been reducing their estimates at

large, based on the tariffs and uncertainty around that," he

said.

"But we think, when all is said and done, those growth

companies, and specifically tech companies, are going to come

through with fabulous earnings. So I think the market is in a

waiting period."

The Dow Jones Industrial Average rose 203.80 points,

or 0.46%, to 44,664.09, the S&P 500 rose 6.51 points, or

0.11%, to 6,270.16 and the Nasdaq Composite fell 50.94

points, or 0.25%, to 20,560.39.

MSCI's gauge of stocks across the globe rose

0.64 points, or 0.07%, to 924.94. The pan-European STOXX 600

index rose 0.5%.

Investors digested upbeat quarterly results from TSMC

, which showed strong demand for the world's largest

contract chipmaker's products, fuelled by surging interest in

artificial intelligence applications.

TSMC's report came a day after AI chip giant Nvidia ( NVDA )

became the world's first public company to reach $4 trillion in

market value, although it closed off that level.

The dollar index, which measures the U.S. currency

against a basket of currencies, including the yen and euro,

rose 0.4% to 97.77.

In cryptocurrencies, bitcoin gained 0.46% to

$111,289.21.

U.S. Treasury yields edged higher after U.S. data showed

that jobless claims unexpectedly fell last week and before the

U.S. Treasury Department was set to sell $22 billion in 30-year

bonds.

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

last up 1.4 basis points on the day at 4.356%.

U.S. crude fell 1.86% to $67.11 a barrel and Brent

fell to $69.09 per barrel, down 1.55% on the day.