Top Stock Movers Now: Nvidia, AES, WPP, and More
Key Takeaways
- Continuing questions about the impact of Trump administration tariffs caused U.S. equities to be higher but little changed at midday.
- Nvidia shares gained, lifting its market capitalization to $4 trillion, the first company in history to reach that mark.
- WPP warned worries brought about by uncertain economic conditions will drag down results.
U.S. equities were higher but little changed at midday as the market continued to focus on what effect new Trump administration tariffs will have on the economy. The Dow Jones Industrial Average, S&P 500, and Nasdaq were up.
Nvidia (NVDA) became the first company ever to reach a $4 trillion market capitalization as demand for its artificial intelligence chips keeps growing.
AES (AES) was the best-performing stock in the S&P 500 on a report the renewable energy provider is exploring a possible sale.
Shares of Merck (MRK) and U.S.-listed shares of Verona Pharma (VRNA) gained when Merck said it would pay about $10 billion for the British firm, adding to its portfolio of respiratory disease treatments.
U.S.-listed shares of WPP (WPP) plunged when the big advertising firm slashed its guidance and warned that clients were pulling back spending because of macroeconomic uncertainty.
Shares of Vertical Aerospace (EVTL) sank after the maker of battery-powered aircraft announced it would be selling $60 million worth of shares at $5.00 each, 28% below yesterday’s closing price.
Shares of Hershey (HSY) and Wendy’s (WEN) fell when Wendy’s chief executive Kirk Tanner resigned and took over as Hershey’s new CEO.
Oil futures rose. Gold futures were little changed. Copper prices tumbled as Trump slapped big new tariffs on imports of the metal. The yield on the 10-year Treasury note was down. The U.S. dollar gained on the euro and pound, but lost ground to the yen. Major cryptocurrencies traded higher.
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