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The markets are celebrating the latest development on the tariff front. President Trump has announced a “comprehensive” trade agreement between the U.S. and the U.K., sending all three of the major stock market averages higher in early morning trading. President Trump also tipped his hand toward further announcements in the pipeline for today, injecting greater optimism into these uncertain markets. Marked by a 200-point gain in the Dow Jones Industrial Average, the markets are seeing green, including a 1% rise in the tech-heavy Nasdaq Composite.
Each of the Magnificent 7 stocks are trading higher today, as Tesla (Nasdaq: TSLA) recoups about 3% while Microsoft (Nasdaq: MSFT) advances by 1.6%). Google parent company Alphabet (Nasdaq: GOOGL) regained its composure and is rising 1% after yesterday’s steep AI-driven sell-off in the stock. Alphabet stock was caught in the crosshairs yesterday after an Apple (Nasdaq: AAPL) executive predicted AI will muscle search engines out of the picture.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Up 238.81 (+0.58%)
Nasdaq Composite: Up 162.24 (+0.91%)
S&P 500: Up 33.87 (+0.60%)
Market Movers
Quantum computing stock D-Wave Quantum (NYSE: QBTS) is ballooning by 22.1% today after reporting Q1 results. At $15 million in revenue, D-Wave’s results topped estimates and set a fresh record for the company.
Advanced Micro Devices (Nasdaq: AMD) is rising 4.5% on the day amid reports of friendlier regulatory guardrails for the chip sector. ARM Holding stock is down 6.2% today due to a disappointing outlook attached to its fiscal Q4 earnings report.
Shopify (NYSE: SHOP) was one of yesterday’s winners alongside Netflix (Nasdaq: NFLX) but is shaving off 4.8% of its value today after reporting a wider than expected Q1 net loss.
AppLovin (Nasdaq: APP) stock is soaring by 17% today after offloading its mobile games studio portfolio in an $800 million deal. The AppLovin CEO said the company was “never a game developer at heart.”
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