MNTN stock surges 16.3% to $24.41, fueled by market optimism.

MNTN stock surged 16.3% to $24.41, a gain of $3.42 per share, driven by investor confidence and recent market trends. This performance highlights the growth potential in various sectors and makes MNTN a closely watched stock.

US stocks climbed to fresh record highs on Thursday, with the Dow Jones Industrial Average (^DJI) and the S&P 500 (^GSPC) reaching new peaks. The tech-heavy Nasdaq Composite (^IXIC) also notched its second consecutive all-time high. The rally was driven by several key factors, including strong performances by Nvidia (NVDA) and bitcoin (BTC-USD).

Nvidia, an AI chipmaker, closed just above $4 trillion in market capitalization after becoming the first public company to cross that threshold. Bitcoin, on the other hand, surged to a new record high, breaking above $113,000 as investors adopted a risk-on approach across various assets.

The market's resilience was also evident in the face of President Trump's latest tariff threats. Despite his stringent warnings, including a 50% tariff on Brazilian imports, the market remained buoyant. Market focus shifted towards potential trade pacts with major US trading partners, such as the EU, India, and Canada.

Delta Air Lines (DAL) kicked off the second quarter earnings season with a positive report, with shares jumping 12% as the carrier restored its earnings outlook. This development was seen as a positive sign for the airline industry.

Meanwhile, jobless claims for the week ending July 5 were 227,000, a 5,000 decline from the previous week's revised level. While this figure was lower than expected, continuing claims ticked up to 1.97 million, indicating a more mixed picture in the labor market.

Shares of MP Materials (MP) soared about 45% following news that the US Department of Defense had agreed to purchase $400 million of preferred stock in the company. This strategic move aims to reduce dependence on Chinese rare earths and strengthen national security.

Investors are closely watching the labor market data for clues on when the Federal Reserve might next cut interest rates. As of Thursday morning, the probability of the Fed holding rates steady at its July meeting was 93%, while the chances of a rate cut in September were 30%.

References:
[1] https://ca.finance.yahoo.com/news/stock-market-today-dow-sp-500-nasdaq-aim-for-records-as-wall-street-returns-to-rally-mode-161956232.html