Stock Market Update
08-Jul-26 11:05 ET
NVDA moves higher on China purchases
Dow -785.20
at 52139.95,
Nasdaq -173.38
at 25666.31,
S&P -61.02
at 7442.83
[BRIEFING.COM] The major averages continue to steadily chart session lows.
NVIDIA (NVDA 198.91, +1.98, +1.01%), meanwhile, is at its best levels of the session after The Information reported China will allow limited NVIDIA H200 chip purchases for top AI firms amid the ongoing supply shortage.
Separately, Alibaba (BABA 108.64, +10.50, +10.70%) is trading higher after a Frost & Sullivan report said Alibaba Cloud held 40.1% of China's 2025 full-stack AI cloud market, exceeding the combined share of Baidu (BIDU 117.07, +4.98, +4.44%), ByteDance's Volcano Engine, and SenseTime. The report appears to be contributing to today's advance by reinforcing BABA's leadership across AI infrastructure, platform services, and model deployment, although the latest quarter still showed that strong cloud execution has not yet translated into consistently stronger consolidated earnings.
