Live Market Updates: NVIDIA (Nasdaq: NVDA) Outperforming Magnificent 7 Stocks

Key Points

Magnificent 7 stocks are outperforming the broader market on Wednesday morning, but most stocks are down.
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Markets Moving Higher And Fear Eases

Apr 9, 2025 at 3:40 PM EDT

Following a 35% VIX dive this afternoon, Goldman Sachs dropped its recession prediction, post-Trump’s 90-day tariff halt (China excepted). It had raised recession likelihood to 45%, lowered 2025 GDP to 0.5%, and cautioned about a tariff-driven recession.

Breaking: 90 Day Tariff Pause Announced

Apr 9, 2025 at 1:36 PM EDT | Eric Bleeker

Trump just announced a 90-day pause on reciprocal tariffs for many countries. Some, like China, that have retaliated will be excluded.

The Nasdaq Composite is now up nearly 10% today.

Markets Are Opening

Apr 9, 2025 at 9:28 AM EDT | Eric Bleeker

Markets are about to open and Nasdaq futures have shifted slightly green, which is a significant jump from earlier this morning.

NVIDIA is up 2.54%, but expect significant volatility once again today.

Stocks Have Risen from Lows

Apr 9, 2025 at 9:08 AM EDT | Eric Bleeker

Stocks are moderating in pre-market trading, with the Nasdaq now down .61% at 9:10 a.m. ET. Earlier this morning most indexes were down about 2%.

Expect significant volatility today. Another event that could change the direction of markets is an expected tariff retaliation from the European Union.

Here we go again. At 8:50 a.m. ET, indexes are flashing red:

Nasdaq Futures: -1.63%
S&P Futures: -1.74%
Dow Futures: -2.06%

Generally, in days with sharp sell-offs, the Nasdaq has sold off at a steeper rate than the Dow, which contains many stocks seen as a safe haven in a recession.

However, today the Dow is seeing the largest declines among major indexes in pre-market trading. That’s good news for some Magnificent 7 stocks, like NVIDIA (Nasdaq: NVDA). Let’s take a closer look at today’s news.

Two Events Weigh on Markets

What are the main reasons the market is down today? First, China retaliated against tariffs that went into effect at a 104% rate last night. China responded by issuing an 84% tariff rate on goods coming from the United States.

Another event to watch today, Europe is expected to announce its own retaliatory tariffs. The more countries that announce reciprocal tariffs, the greater chance we’re in a protracted trade war that will cause a sharp drop in corporate earnings.

Another event to watch is the yield on 10-Year Treasuries continues to soar. On Monday morning, 10-Year Treasuries were yielding 3.9%, they’ve raced 55 basis points higher to 4.45% this morning.

If Treasuries continue spiking, it’s likely stocks will head lower. Higher rates are a headwind to the economy and make buying fixed income relatively more attractive than stocks.

Some Mag 7 Stocks Outperforming

Despite the broader market sell-off, investors are piling into some Magnificent 7 stocks this morning. For example, NVIDIA (Nasdaq: NVDA) shares are up 2% in pre-market trading.

Here’s a look at other Mangificent 7 stocks are performing: