Live Nasdaq Composite: Markets Rise as China Tariffs Do This

The markets are looking to end the week on a positive note after getting some good news on the trade war. President Trump revealed that he is willing to slash tariffs on China imports from a triple-digit percentage to 80%, saying that level seems appropriate as the White House gears up for talks with Beijing. Stocks appear to be cautiously optimistic on the development, with all three of the major stock market averages headed higher this morning.

While China has been the wildcard, the Trump administration suggested that multiple agreements are being reached with U.S. trade partners, injecting further optimism into these markets. Most sectors of the economy are seeing green, led by the energy, consumer discretionary and technology sectors.

Magnificent Seven stocks are lifting the Nasdaq Composite higher, including a 1% gain in Amazon (Nasdaq: AMZN) and 2.5% jump in Tesla (Nasdaq: TSLA). The Dow Jones Industrial Average is also getting a pop from Boeing (NYSE: BA) stock on a strong Dreamliners jet order from the British Airways parent company. BA stock is up 1.4%.

Here’s a look at the performance as of morning trading:

Dow Jones Industrial Average: Up 114.55 (+0.26%)
Nasdaq Composite: Up 102.00 (+0.57%)
S&P 500: Up 24.36 (+0.41%)

Market Movers

Palantir Technologies (Nasdaq: PLTR) might be a volatile play, but that is what it takes to trade as one of the leading tech stocks. As of yesterday, Palantir has muscled its way into the top 10 most valuable technology plays in the U.S. market, boasting a market capitalization of $281.1 billion. By way of comparison, Salesforce’s (NYSE: CRM) market cap currently hovers at a lesser $268.4 billion. PLTR stock is down 1% today on profit taking.

Ad-tech platform The Trade Desk (Nasdaq: TTD) is soaring 22.8% today after reporting strong Q1 results. Revenue ballooned by 25% to $616 million. Earlier this month, RBC maintained a buy rating on the stock with a price target of $85 per share, reflecting upside potential of 41%.

Lyft (Nasdaq: LYFT) stock is rising today after lifting its Q2 forecast and initiating a $750 million share buyback program. Most Wall Street analysts have a “hold” rating on the stock.

Coinbase (Nasdaq: COIN) is taking a breather after announcing a blockbuster deal to acquire options trading platform Deribit in a $2.9 billion deal, thrusting it into the crypto derivatives realm.

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