The major US stock indices are opening higher as they shrug off the tariff threats to chips/semiconductors and instead focus on the re-shoring prospects.. They are also focused on the potential for peace in Ukraine/Russia.
Looking at the major indices:
- Dow industrial average is up 141 points or 0.32% at 44335.47. Is up 38.84 points or 0.49% at 6376.29.
- S&P index is up 38.84 points or 0.49% at 6376.29.
- NASDAQ index up 174.61 points or 0.82% at 21341.50.
Apple shares have extended their rally this morning, following yesterday’s 5.1% surge after announcing a $100 billion investment in the U.S. and the launch of the American Manufacturing Program. Shares are currently up to .83%
Bank of America noted that iPhones could gain market share if competitors are subject to tariffs and Apple receives exemptions.
Nvidia (up 0.65% yesterday underperforming the NASDAQ) and other chipmakers like AMD after yesterday’s decline ( -6.42% tumble) after earnings. also traded higher, shrugging off President Trump’s threat of 100% tariffs on semiconductors—investors seem to believe the tariffs will come with U.S.-friendly carveouts. Nvidia’s ongoing U.S. investment reinforces that view. Nvidia shares are currently up 1.97% while AMD shares are up 3.85%.
Meanwhile, Eli Lilly shares tumbled after its GLP-1 weight loss pill underwhelmed in late-stage trials, showing an average 12% weight loss versus Street expectations of 13–15%. The company still plans to file for FDA approval later this year, and reported strong earnings alongside raised guidance thanks to injectable GLP-1 drugs Zepbound and Mounjaro. The stock is currently down -14.06%.
Intel fell by up to 5% following sharp criticism from President Trump, who called on new CEO Lip-Bu Tan to resign, citing concerns over his ties to Chinese firms—an issue echoed by Senator Tom Cotton. Tan had only recently taken the helm in March to lead a turnaround of the embattled chipmaker. Shares have recovered and are down only -1.91% at $20.02 currently .
The NASDAQ index on pace for a record close above 21178.58.. The intraday high price from July 31 reached 21457.48. The high price today has reached 21399.41 so far.
This article was written by Greg Michalowski at investinglive.com.