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Magnificent Seven Stocks Jump on Limited Tariffs News

Magnificent Seven Stocks Jump on Limited Tariffs News

Published: by Omor IE

Key Points

  • The broader market is rallying due to tariff-related optimism.

  • Big-cap stocks are leading the recovery today.

  • However, some stocks have still underperformed.

The Magnificent Seven stocks and other big-cap stocks have started rallying sharply as news broke out that retaliatory tariffs on April 2 will be more limited than previously thought. These companies have a significant international customer base, and investors are optimistic that they will no longer take big hits.

These stocks previously spearheaded the losses during the stock market correction, and they are currently leading the gains on the way back up. Monday’s rally may not turn into a full-blown recovery, but the trends so far look very promising.

Here’s a market update as of 11:00 A.M (ET) today.

  • The S&P 500 is up 91.48 points, or 1.61%.
  • The Nasdaq Composite is up 364.7 points, or 2%.
  • Dow Jones Industrial Average is up 530.3 points, or 1.26%.
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Mag 7 Stocks Gap Up Significantly

Tesla (NASDAQ: TSLA) delivered the most gains today as it popped over 10%. The stock was the worst performer among the Mag 7 but has made a sharp turnaround as FSD sales in China roll out and Elon Musk hosts meetings with Tesla employees. Musk is also expected to hold a cabinet meeting with Trump today.

  • Meta Platforms (NASDAQ: META): Jumped over 3.6% as it recovers from the sharp selloff in the past few months.
  • Amazon (NASDAQ: AMZN): Up over 3.4% as it recovers.
  • Nvidia (NASDAQ: NVDA): Up 2.5%.
  • Alphabet (NASDAQ: GOOG, GOOGL): Up 2%.
  • Microsoft (NASDAQ: MSFT) and Apple (NASDAQ: AAPL) are also up, but slightly.

Notable Gainers Today

Big AI and chip stocks have gained significantly today. Advanced Micro Devices (NASDAQ: AMD) is leading among chip stocks with a 5.7% gain so far today.

Palantir (NASDAQ: PLTR) is leading the charge among AI software stocks as it has recovered by over 5.3%.

  • Tonix Pharmaceuticals (NASDAQ: TNXP): Has gained over 37.7% as it announced that the FDA will not require an advisory committee meeting to discuss its new drug application for TNX-102 SL.
  • Lexeo Therapeutics (NASDAQ: LXEO): Up 25.5% on positive trial data.
  • Codexis (NASDAQ: CDXS): Up 21.6% as it announces the first revenue-generating contract for ECO Synthesis manufacturing services.
  • Montauk Renewables (NASDAQ: MNTK): Up 15.1% as it recovers from a 90%-plus selloff.
  • OraSure Technologies (NASDAQ: OSUR): Up 11.6% after announcing a $40 million stock buyback program.

Notable Losers Today

The stock market is rallying broadly today, so there’s a lack of any major losers today. Of course, there are some exceptions.

  • James Hardie Industries (NYSE: JHX): Down 19% after announcing that it will acquire AZEK Company for $8.75 billion in cash and stock. JHX’s market cap is at $9.94 billion, so many see it as dilutive.
  • Regencell Bioscience Holdings (NASDAQ: RGC): Down nearly 21% after a massive 1,300%-plus rally this month.
  • Aditxt (NASDAQ: ADTX): Down 18.4% as it cools off from an earlier rally and its acquisition target Evofem posts earnings results.
  • ZIM Integrated Shipping Services (NYSE: ZIM): Down 13.1%.

The image featured at the top of this post is ©monsitj / Getty Images.

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