U.S. markets are opening Friday slightly higher on signs of a softening bullish momentum that has propelled markets this week. Stocks are also reacting to a flurry of corporate news. The Nasdaq is up 0.17% 30 minutes after Wall Street opens, while the S&P 500 is up 0.10%.
Donald Trump said he will set tariffs on U.S. trading partners “in the next two to three weeks.” The Trump administration also plans to place a number of Chinese chipmakers, including memory chip maker ChangXin Memory, on an export blacklist, but some officials are looking to delay the move so as not to harm efforts to strike a long-term trade deal with China.
The markets themselves are once again being driven by technology companies today. U.S. President Trump said deals from his trip are worth $12 trillion to $13 trillion, including deals already announced and some that will be announced “soon.”
Current volatility observed on Wall Street. Source: xStation
US100
The Nasdaq-100 index, represented by the US100 contract, is trading today nearly 0.2% higher than yesterday’s close. The index continues to maintain a dynamic upward trend, illustrated by exponential moving averages (50-, 100- and 200-day EMAs, respectively). From a technical perspective, the round zone of 21,000 points remains an important price support, while the historical peak of nearly 22,300 points is resistance.
Source: xStation 5
News
Nvidia (NVDA.US) shares are doing well for another day in a row. The company intends to build a research and development center in Shanghai, which would help the world’s leading manufacturer of AI processors remain competitive in China, where its sales have fallen due to tightening export controls by the US.
On the other hand, Meta Platforms (META.US) shares have been relatively weak as the company said it will delay the launch of its flagship AI model “Behemoth” due to difficulties in significantly improving its capabilities.
Alphabet (GOOGL.US) shares are breaking out of consolidation, gaining more than 3%.
Applied Materials Inc. (AMAT.US) missed Wall Street’s second-quarter revenue estimates on Thursday, weighed down by lower-than-expected sales in the chipmaker’s largest segment amid uncertainty over export restrictions. The company reported revenue of $7.10 billion for the quarter ended March 31, compared with analysts’ average estimate of $7.13 billion. The company’s adjusted earnings per share for the second quarter came in at $2.39, beating analysts’ estimates of $2.31.
Warren Buffett’s Berkshire Hathaway said it has more than doubled its stake in alcoholic beverage maker Constellation Brands (STZ.US) while divesting its investment in Citigroup (C.US).
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