Uncertainty has gripped yet another one of Elon Musk’s companies after X CEO Linda Yaccarino revealed she would be stepping down. Yaccarino has led the social media platform for the past two years amid a mandate to draw advertisers back after Musk’s high-profile takeover. Musk’s other company, Tesla (Nasdaq: TSLA), has been under fire as investors punish the stock for the tech innovator’s political ambitions.
The markets are holding their gains today, with the Nasdaq Composite now up 0.61%.
Nvidia stock has crossed the $4 trillion market cap, making it the first company in history to reach this massive size. The stock is currently up 1.6% to hover at $162.63 per share after rising as high as $164.42 intraday to put it over the top. Nvidia first clinched the $3 trillion market cap level last year.
Morgan Stanley has reiterated its “overweight” rating on Apple (Nasdaq: AAPL) stock, saying the company will experience minimal disruption amid the departure of a C-Suite executive.
RBC analysts have reiterated their “outperform” rating on Elon Musk’s Tesla (Nasdaq: TSLA), touting the EV maker’s Q2 deliveries.
Goldman Sachs has lowered its rating on shares of SolarEdge (Nasdaq: SEDG), owing to a cloud of regulatory uncertainty around the broader solar sector.
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The markets are seeing signs of optimism for trade-deal progress, sending stocks higher across the board out of the gate. On the technology front, Nvidia (Nasdaq; NVDA | NVDA Price Prediction) is up 2%, inching closer to the coveted $4 trillion market cap level. On trade, President Trump is targeting specific sectors of the economy, including a 50% tariff on copper imports, sending the price of metal to all-time highs this week. Copper, which is in demand amid the transition to clean energy, soared by 17% to its biggest one-day gain in decades. Sectors of the economy are trading mixed with energy stocks out front, posting a 2.7% gain as a group.
Apple (Nasdaq: AAPL) is trading relatively flat after a White House trade official has said that the iPhone maker believes it’s ‘too big to tariff.’
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Up 206.77 (+0.48%)
Nasdaq Composite: Up 156.50 (+0.74%)
S&P 500: Up 32.35 (+0.52%)
Credit company Fair Isaac (NYSE: FICO), better known as FICO, is under pressure after the Trump administration greenlighted an alternative credit formula, paving the way for more renters to become homeowners and achieve the American Dream.
Digital healthcare platform Hims & Hers (NYSE: HIMS) is rising 1.1% as investors cheer the company’s plans to expand its North American footprint into Canada.
Healthcare stock ProKidney (Nasdaq: PROK), with a market cap of $2.8 billion, is rallying 53.6% today.
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Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.
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