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Here's your closing bell brief for Wednesday, July 9th. I'm Charlotte Gartenberg for the Wall Street Journal.

The NASDAQ composite rose to a record high as markets took the latest tariff moves from President Trump in stride.

The Dow Jones Industrial Average ended up 218 points to close at 44,458, the S&P gained 38 points, and the NASDAQ advanced 193 points.

Today's tariff activity focused on more so-called reciprocal tariffs that countries will face if they don't make deals.

Investors are looking through the tariff chaos, wagering the White House won't ultimately

follow through on its harshest threats, while the Federal Reserve is looking closely at the

economic impact of tariffs, according to minutes from its June meeting released this afternoon.

Among individual companies, Drugmaker Merck struck a roughly $10 billion deal to buy Verona Pharma. Merck gained

nearly 3%. Verona's shares ended the day up almost 21%. United Health Group shares dipped

1.5% today as the Justice Department's criminal health care fraud unit investigates

the company's Medicare billing practices.

Starbucks has drawn bids for a stake in its China business, according to media reports.

CNBC said bids valued Starbucks China at as much as $10 billion. The coffee chain ended the day up.3%. And shares in the advertising conglomerate WPP tumbled 18% in New York after it said clients were

pulling back on spending. Shares in rival Omnicon, which is merging with interpublic, dropped 2.9%. We'll have a lot more

coverage of the day's news on the Wall Street Journal's What's News podcast.

You can add it to your playlist on your smart speaker or listen and subscribe wherever you get your podcasts.

Americans love using their credit cards, the most secure and hassle-free way to pay. But DC politicians want to change that with the Durban Marshall Credit Card bill.

This bill lets corporate megastores pick how your credit card is processed,

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