US Equity Markets Rise After US Jobless Claims Fall Unexpectedly

04:09 PM EDT, 07/10/2025 (MT Newswires) -- US benchmark equity indexes ended higher Thursday after US jobless claims fell unexpectedly, and US President Donald Trump announced 50% tariffs on imported copper and Brazilian goods.

* US initial jobless claims last week dropped to 227,000, down from a revised 232,000 the week before, defying expectations in a Bloomberg survey for an increase to 235,000, Labor Department data showed. The four-week moving average declined by 5,750 to 235,500, following a revised 241,250 in the prior week.

* Trump said late Wednesday the 50% tariffs on Brazilian imports start Aug. 1, up from 10% introduced in April. The move is partly in response to Brazil's prosecution of Jair Bolsonaro, the former president, and what Trump described as an "unfair trade relationship." Brazilian President Luiz Inacio Lula da Silva pledged to take reciprocal action under a national law allowing countermeasures.

* Trump also confirmed that 50% tariffs on copper imports will begin Aug. 1 following a national security review.

* August West Texas Intermediate crude oil fell $1.48 to settle at $66.90 per barrel, while September Brent crude, the global benchmark, was last seen down $1.29 to $68.90.

* Delta Air Lines (DAL) shares rose 12% after the company reported stronger-than-expected Q2 results, supported by steady demand trends, and restored full-year earnings guidance.

* Autodesk (ADSK) shares dropped 6.9%, and PTC (PTC) fell 7.6% after Bloomberg News reported that Autodesk (ADSK) is considering the acquisition of engineering software firm PTC.

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