S&P 500 INDEX (SPX) Live: Broader Markets Rise on Trade Deal Domino Effect

This article will be updated throughout the day, so check back often for more daily updates.

Tariffs are having a live by the sword, die by the sword effect, and today that is translating to gains. President Trump revealed that he is willing to slash tariffs on China imports from over 100% to 80%, saying that level seems reasonable as Washington, D.C. gears up for negotiations with Beijing. Stocks are rightfully cautiously optimistic on the development, with all three of the major stock market averages headed higher this morning but keeping it modest. The SPX ETF is gaining 0.25% as of morning trading.

China could be the first of many tariff deals in the works with U.S. trade partners, according to the White House, further lifting market sentiment. Most sectors of the economy are moving higher, led by the energy, consumer discretionary and technology sectors.

Magnificent Seven stocks are participating in the gains, with Amazon (Nasdaq: AMZN) rising 1% while Tesla (Nasdaq: TSLA) is adding 6.8%. TSLA stock is on its way to reclaiming a $1 trillion market cap. The Dow Jones Industrial Average is being lifted in part by Boeing (NYSE: BA) stock on a desirable 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 82.49 (+0.20%)
Nasdaq Composite: Up 114.14 (+0.63%)
S&P 500: Up 22.51 (+0.40%)

Market Movers

Palantir Technologies (Nasdaq: PLTR) might be a volatile play, but it’s also one of the leading tech stocks. As of Thursday, Palantir was added to the top-10 most valuable technology plays in the U.S. market, with a market capitalization of $281.1 billion. Comparatively, Salesforce’s (NYSE: CRM) market cap currently hovers below that level at $268.4 billion. PLTR stock is taking it on the chin today, down fractionally.

Ad-tech platform The Trade Desk (Nasdaq: TTD) is skyrocketing by over 20% today after reporting strong Q1 results. Revenue soared 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 climbing 20.3% higher 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.

Expedia Group (Nasdaq: EXPE) is down 7.3% on the day on a Wall Street downgrade to “underweight” by Piper Sandler analysts.

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