Stock Market Update: Key Moves Before the Opening Bell

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Samiat

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Nov 12, 2024
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Stock Market Update: Key Moves Before the Opening Bell​

1. U.S. Stock Futures Surge on Trade Deal
Markets are rallying after the U.S. and China agreed to a 90-day tariff truce. Dow futures are up over 1,000 points (2.5%), with the Nasdaq and S&P 500 gaining around 4% and 3%, respectively. Oil is rising, gold is down, and Bitcoin remains steady near $104,000.

2. U.S. and China Slash Tariffs
Both countries will significantly reduce tariffs starting Wednesday:

  • U.S. tariffs on Chinese imports drop from 145% to 30%.
  • China lowers its tariffs on U.S. goods from 125% to 10%.
3. Tech Stocks Lead the Rally
Tech is surging on trade optimism:

  • Tesla (TSLA) up nearly 8%
  • Nvidia (NVDA), AMD, Broadcom (AVGO) rise 5–7%
  • Apple (AAPL) gains 6%; Amazon (AMZN) up 8%
4. Drug Stocks Slide on Trump’s Price-Cut Pledge
Pharma shares are down after Trump vowed to slash drug prices by up to 80%.

  • Eli Lilly (LLY) down 3.5%, Novo Nordisk (NVO) down 3%
  • Merck (MRK) and Pfizer (PFE) fall 3% and 2.5%, respectively
5. Automakers Rebound on Trade Truce
Car stocks are bouncing back after recent tariff pressures ease:

  • Stellantis (STLA) jumps 7%
  • GM and Ford (F) climb 4% and 3%
 
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