The major US stock indices are opening higher as they shrug off the tariff threats to chips/semiconductors and instead focus on the re-shoring prospects.. They are also focused on the potential for peace in Ukraine/Russia.
Looking at the major indices:
Apple shares have extended their rally this morning, following yesterday’s 5.1% surge after announcing a $100 billion investment in the U.S. and the launch of the American Manufacturing Program. Shares are currently up to .83%
Bank of America noted that iPhones could gain market share if competitors are subject to tariffs and Apple receives exemptions.
Nvidia (up 0.65% yesterday underperforming the NASDAQ) and other chipmakers like AMD after yesterday's decline ( -6.42% tumble) after earnings. also traded higher, shrugging off President Trump’s threat of 100% tariffs on semiconductors—investors seem to believe the tariffs will come with U.S.-friendly carveouts. Nvidia’s ongoing U.S. investment reinforces that view. Nvidia shares are currently up 1.97% while AMD shares are up 3.85%.
Meanwhile, Eli Lilly shares tumbled after its GLP-1 weight loss pill underwhelmed in late-stage trials, showing an average 12% weight loss versus Street expectations of 13–15%. The company still plans to file for FDA approval later this year, and reported strong earnings alongside raised guidance thanks to injectable GLP-1 drugs Zepbound and Mounjaro. The stock is currently down -14.06%.
Intel fell by up to 5% following sharp criticism from President Trump, who called on new CEO Lip-Bu Tan to resign, citing concerns over his ties to Chinese firms—an issue echoed by Senator Tom Cotton. Tan had only recently taken the helm in March to lead a turnaround of the embattled chipmaker. Shares have recovered and are down only -1.91% at $20.02 currently .
The NASDAQ index is
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