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Tesla shares advanced when CEO Elon Musk said he would move away from politics and be more involved with his businesses.Key Takeaways
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U.S. equities took off at midday on word President Donald Trump was delaying new tariffs on European Union imports.
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Tesla CEO Elon Musk said he would shift his focus away from politics and spend more time on his companies.
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Falling gold prices sent down shares of Newmont and rival gold miners.
U.S. equities jumped at midday after President Donald Trump said he would delay new tariffs on European Union imports for 90 days. The Nasdaq added 2%, and the Dow Jones Industrial Average and S&P 500 were up more than 1%.
Tesla (TSLA) shares advanced when CEO Elon Musk said he would move away from politics and be more involved with his businesses.
Shares of Ross Stores (ROST) and Deckers Outdoor (DECK), which had dropped when Trump first announced the tariffs, rallied on the news.
Informatica (INFA) and Salesforce (CRM) shares rose after the firms struck a deal for Salesforce to buy the shares of Informatica it didn't own for $8 billion.
AutoZone (AZO) shares tumbled when the auto parts retailer missed profit estimates on falling demand and foreign currency fluctuations.
Shares of Rocket Pharmaceuticals (RCKT) lost more than half their value and sank to an all-time low when the drugmaker reported a patient taking its experimental treatment for Danon disease died, leading to a halt in the study.
The tariff decision sent the price of gold sliding 2%, and that dragged down shares of Newmont (NEM) and other gold miners.
Oil futures fell. The yield on the 10-year Treasury note dropped. The U.S. dollar gained on the euro, pound, and yen. Most major cryptocurrencies traded higher.
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