S&P 500, Nasdaq close at record highs on jobs data; Nvidia market cap nears $4 trillion | 3 July 2025 | Wall Street rallied on Thursday to record closing highs, as chipmaker Nvidia rose closer to a $4 trillion valuation and a surprisingly strong U.S. jobs report cheered investors, who shrugged off dimming chances for an interest rate cut this month. The S&P 500 and Nasdaq closed at record highs, notching a third week of gains. The Dow closed up 0.77%, only 0.41% away from its own record. Chipmaker Nvidia rose 1.3%, putting its market capitalization at $3.89 trillion. The company is close to overtaking Apple’s all-time record and becoming the world’s most valuable company in history.