The stock market experienced a strong rally on Tuesday, as the S&P 500 surged 2% following President Donald Trump’s decision to delay a 50% tariff on the European Union. The boost in stocks was also aided by a higher consumer confidence index, which notably impacted consumer discretionary stocks. Some notable gainers included Amazon, Home Depot, Starbucks, and Texas Roadhouse.
Bank of America highlighted some overlooked stocks with potential for gains, including Charter Communications and Toast. Charter Communications has seen a 20% increase this year and recently announced a merger deal with Cox Communications, while Toast has shown an 18% rally.
Nvidia’s financial performance is being closely watched following restrictions placed by the Trump administration, which required an export license for the company’s H20 chip, specifically designed for the Chinese market. This resulted in Nvidia taking a $5.5 billion write-down on inventory, a potential significant impact on future revenue.
Chinese auto stocks like Li Auto and Nio slipped after BYD announced a price reduction on 22 electric and plug-in hybrid models, sparking off fears of a price war. Meanwhile, AMC Entertainment stocks soared by 24% following a record-breaking Memorial Day weekend in terms of revenues. Other major movers included V.F. Corporation, Tesla, and Salesforce.
Finally, Disney shares were highlighted by Jim Cramer for their potential to rise following a record-breaking weekend at the box office with their live-action film, “Lilo & Stitch.”
However, while detailing stocks’ activities, the articles did not provide specific numbers on the Dow and Nasdaq’s performance. Further research would be needed for these details.
Shares of movie theater companies, including AMC and Marcus Corporation, soared after a record-breaking Memorial Day weekend at the box office, with AMC stock jumping over 20% and Marcus Corporation climbing 8%. Circulating USDC stablecoin issuer Circle has launched its IPO in which it seeks to raise approximately $624 million at a valuation around $6 billion, with shares expected to be listed under the ticker CRCL on the New York Stock Exchange. Trump Media’s shares plummeted by 10% upon announcing a $2.5 billion raise from institutional investors to fund one of the biggest bitcoin treasury allocations by a public company. In diversity, Tesla shares saw nearly a 6% surge after CEO Elon Musk stated his commitment to focus on his businesses ahead of the SpaceX rocket launch, while uranium mining giant Cameco and small modular reactor developer NuScale are set to profit from President Donald Trump’s recent executive orders on nuclear power, according to Goldman Sachs.
Sources:
- Every portfolio stock is higher in Tuesday’s market rally. Here’s our top performer
- These strong stocks are under-owned and have momentum, Bank of America says
- All eyes on China restrictions as Nvidia gets set to report results
- Stocks making the biggest moves midday: Trump Media, Salesforce, Tesla, AMC Entertainment and more
- Jim Cramer: Disney shares ‘can go much higher’ after record box office weekend
- Movie theater stocks soar after record-breaking Memorial Day box office
- Stablecoin issuer Circle kicks off its IPO, targeting a nearly $6 billion valuation
- DJT shares fall 10% as Trump Media says it’s raising $2.5 billion to buy bitcoin
- Tesla shares climb as Musk pledges to be ‘super focused’ on companies ahead of Starship launch
- Trump’s orders to boost nuclear power will benefit these two stocks the most, Goldman says
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