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S&P 500 up late

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

Trump

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Bitcoin hits fresh record

(Updates to U.S. afternoon trading)

By Caroline Valetkevitch

NEW YORK, July 10 (Reuters) - Stock indexes rose 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.

Helping Wall Street stocks, Delta Air Lines ( DAL ) jumped

12% after it forecast third-quarter and full-year profits above

analysts' estimates. Other travel stocks also rose, including

United Airlines, which was up 15.3%.

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 0.6% against the real, while Brazilian stocks

were down about 0.5%.

Brazilian President Luiz Inácio Lula da Silva vowed

retaliation against unilateral tariff hikes, and called a

meeting with ministers on Thursday.

Some traders say U.S. consumers could see sharp price

increases on food staples like coffee and orange juice if the

administration sticks to its Brazil import plan.

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 259.72 points,

or 0.59%, to 44,718.67, the S&P 500 rose 21.75 points, or

0.35%, to 6,285.02 and the Nasdaq Composite rose 34.47

points, or 0.17%, to 20,645.81.

MSCI's gauge of stocks across the globe

rose 2.70 points, or 0.29%, to 927.00. The pan-European STOXX

600 index ended up 0.54%.

Bitcoin

rallied

to another all-time high. The world's largest

cryptocurrency rose to a fresh record high of

$113,734.64. It is now up about 21% this year.

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.

The dollar index, which measures the greenback

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

rose 0.28% to 97.65.

Benchmark 10-year U.S.

Treasury yields

edged higher on after U.S. data showed that jobless claims

unexpectedly fell last week and as investors focused on how

tariffs will impact inflation ahead of key consumer price data

due next week.

U.S. crude fell $1.81 to settle at $66.57 a barrel

and Brent settled at $68.64 per barrel, down $1.55.