Nasdaq Composite Live: This is Why the Index is Still Exploding Higher

By Ian Cooper Updated Aug 7, 8:56AM EDT · Published Aug 7, 7:51AM EDT

Key Points

Just days after tariff news and jobs data sank the markets, the major indices are exploding.
All thanks to President Trump’s new chip tariffs that include broad exemptions.

Live Updates

Morgan Stanley Just Ugraded Apple

Aug 7, 2025 at 8:55 AM EDT

Morgan Stanley just reiterated its overweight rating on Apple, noting that the tech giant is well-positioned after the latest tariff news from President Trump.

According to the firm, as quoted by CNBC, “Apple’s commitment to investing an added $100B in the U.S. – mind you, with zero new major final assembly/production in the U.S. – means Apple is entirely exempt from Section 232 tariffs. Therefore, for Apple, tariff rates should get no worse, which is a much better-than-feared outcome.”

Goldman Sachs Just Hiked Nvidia Price Target Ahead of Earnings

Aug 7, 2025 at 8:29 AM EDT

Goldman Sachs just raised its price target on NVDA to $200 from $185, with a buy rating.

As noted by CNBC, “Analyst James Schneider said that even though investor expectations are high heading into fiscal second-quarter results at the end of August, the chipmaker should have no trouble rising to the occasion.”

In premarket, NVDA is now up about $2.45 a share to $181.81.

Futures are racing even higher.

Just days after tariff news and jobs data sank the markets, the major indices are exploding. At the moment, the Dow is up 250 points. The S&P 500 is up about 41, with the NASDAQ up another 190 points to 23,610.

All thanks to President Trump’s new chip tariffs that include broad exemptions.

Announced last night, the President said there would be a 100% tariff on imported chips. However, that will not apply to companies building chips in the U.S. All of which positively impacted Nvidia, Advanced Micro Devices, and ETFs such as the VanEck Semiconductor ETF (SMH).

Helping even more, Apple is up about 2.6% in premarket after announcing it would invest $100 billion more in U.S. companies and suppliers over the next four years. That’s on top of the $500 billion commitment Apple made earlier this year.

“We’re going to be putting a very large tariff on chips and semiconductors,” Trump said, as quoted by CNBC. “But the good news for companies like Apple is if you’re building in the United States or have committed to build, without question, committed to build in the United States, there will be no charge.”

With the 2025 NFL Season Weeks Away, Gambling Stocks are Gaining Momentum

Ahead of the 2025 NFL season, gambling stocks, like DraftKings (DKNG) are exploding higher.

In 2024, the American Gaming Association said Americans were expected to spend about $35 billion on NFL games this year. That’s up from the $26.7 billion wagered a year prior.

At the time, as noted by CBS Sports, “The NFL remains king, and more money is wagered on the NFL than any other league. The NFL also attracts six-figure wages (and sometimes seven-figure wagers) on a regular basis throughout the season.”

From its August 2024 low of $31.26, DKNG ran to a high of about $45.72.

The RoundHill Sports Betting & iGaming ETF (BETZ) ran from an August 2024 low of about $16.30 to a high of $20.50. Shares of Flutter Entertainment (FLUT) ran from an August 2024 low of about $175.60 to a high of $283.45.

With regards to DKNG, its stock is up after posting better-than-expected earnings and reiterated its full-year outlook. Its EPS of 38 cents missed by three cents. However, revenue of $1.51 billion, up 37.3% year over year, beat by $80 million.

“We set records for revenue, net income, and adjusted EBITDA in the second quarter, driven by an acceleration in revenue growth to 37% year-over-year,” said CEO Jason Robins. “We are pleased to be maintaining our fiscal year 2025 guidance, with revenue expected to be closer to the high end of our range, highlighting the strength of our platform as we prepare for an exciting new state launch.”