Key Points
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The stock market is still mixed today due to economic uncertainty.
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Semiconductor stocks are down due to tariff-related risks and Huawei’s unveiling of an AI chip.
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Some healthcare stocks have gained big today.
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The stock market has been mostly flat this morning, but things have gotten slightly more positive as Amazon (NASDAQ: AMZN) stopped declining. The company caught fire from the Trump administration after reports that the company was planning to show customers the specific cost of tariffs imposed by the Trump administration next to product prices on its platform.
This was immediately met by significant backlash from the White House. The Press Secretary Karoline Leavitt called Amazon’s decision a “hostile and political act,” and questioned why the company didn’t do the same under the Biden administration’s period of high inflation. She accused the company of being China-aligned.
Here’s a market update as of 11:30 A.M (ET) today.
- The S&P 500 is up 12.4 points, or 0.23%.
- The Nasdaq Composite is up 12.7 points, or 0.07%.
- The Dow Jones Industrial Average is up 198.05 points, or 0.49%.
AMZN Stock Makes Partial Recovery
The stock declined due to this early in the morning, but has recovered slightly since. AMZN stock is still in the red.
As per Amazon, “the team that runs our ultra-low-cost Amazon Haul store has considered listing import charges on certain products. This was never a consideration for the main Amazon site, and nothing has been implemented on any Amazon properties.”
Regardless, things are looking more positive after the company made a successful satellite launch, which could end up being a major rival of Elon Musk’s Starlink.
Semiconductor Stocks Sink
Semiconductor stocks haven’t been doing so well today, as Huawei revealed an AI chip that could cause NVIDIA (NASDAQ: NVDA) to lose market share in China. NVIDIA previously saw its stock decline due to a mandate from the Trump administration that would require a license for it to export its H20 chips to China. This is expected to cause billions in lost revenue, and it has already prompted NVIDIA to report a $5.5 billion charge.
The Huawei AI chip is expected to cause more problems on top of that.
- ACM Research (NASDAQ: ACMR) fell 14.7%.
- NXP Semiconductors (NASDAQ: NXPI) is down 6.9%. This is mostly due to the company’s CEO Kurt Sievers stepping down, though the broader industry concerns are also to blame.
- Micron (NASDAQ: MU) is down 2.4%.
- Lam Research (NASDAQ: LRCX) is down 1%.
- Dell Technologies (NYSE: DELL) is down 0.9%.
Notable Gainers Today
- Leggett & Platt (NYSE: LEG) is up 25% after strong Q1 earnings. EPS of $0.24 beat estimates by $0.02. Revenue of $1.02 billion beat estimates by $2.29 million.
- Kiniksa Pharmaceuticals (NASDAQ: KNSA) is up 19.2% after Q1 earnings. The company reported that its revenue increased to $137.8 million in Q1 from $79.9 million in the year-ago quarter. It also swung to a profit.
- Hims & Hers Health (NYSE: HIMS) is up 19% due to a partnership with Novo Nordisk (NYSE: NVO).
- CLARIVATE (NYSE: CLVT) is up 15% after it reaffirmed fiscal year guidance in Q1.
- Metsera (NASDAQ: MTSR) is up 15%.
Notable Losers Today
Minus ACMR, here are the big losers so far today:
- NeoGenomics (NASDAQ: NEO) is down 27.8% after missing Q1 sales targets.
- Wolfspeed (NYSE: WOLF) is down 16.4% as the short squeeze “runs out of steam.”
- Insperity (NYSE: NSP) is down 14.6% after lowering full-year guidance.
- Brinker International (NYSE: EAT) is down 14.4% despite beating earnings expectations.
- Pony AI (NASDAQ: PONY) is down 14% as it cools from a massive rally earlier.
The image featured at the top of this post is ©monsitj / iStock via Getty Images.