US markets open Monday’s session higher as Wall Street sentiment was reinforced by the easing of US-China tariff tensions. Stocks are also reacting to a series of corporate news. The Nasdaq is up 3.51% 30 minutes after Wall Street opens, while the S&P 500 is up 2.66%.
Current volatility on Wall Street. Source: xStation
Automakers and retailers are leading in pre-market gains on the back of the US-China trade deal. Pharmaceuticals are down 1.8% on Donald Trump’s promise to cut US drug prices. Breakdown of yields by sector. Source: Bloomberg Financial LP
US100
The Nasdaq-100 index, represented by the US100 contract, is trading nearly 4% higher today than it closed on Friday. The index continues to maintain a dynamic upward trend, illustrated by exponential moving averages (50-, 100- and 200-day EMAs, respectively). The US100 has already recovered almost 78% of the declines that have occurred since the beginning of the second half of February 2025.
Source: xStation 5
News
Pharmaceutical stocks fell today after President Donald Trump said he plans to order a reduction in the cost of prescription drugs in the US, raising concerns that their profits will suffer, but these moves have already been largely negated by favorable sentiment in the broader market. Eli Lilly (LLY.US) shares lost as much as 3% (they are currently losing “only” 0.7%); Pfizer (PFE.US) lost 2%, now gaining 2.7%.
Source: xStation
Falling gold prices amid lower economic concerns amid high tariffs are dragging down precious metals-focused miners. Barrick Mining Corp. (GOLD.US) is down 5%.
Shopify (SHOP.US) shares are up 10% after Nasdaq announced Friday that the Canadian e-commerce platform will replace MongoDB in the Nasdaq-100 index ahead of the May 19 market open.
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