In This Article:
Catalysts host Madison Mills takes a look at some of the trading session's top stories.
US automaker stocks Ford (F), General Motors (GM), and Stellantis (STLA) are gaining on tariff negotiation progress.
Retail stocks, like Nike (NKE), Lululemon (LULU), and Target (TGT), are also popping on the temporary US–China tariff cooldown.
Shopify (SHOP) is set to replace software company MongoDB (MDB) on the Nasdaq 100 index (^NDX) on May 19.
To watch more expert insights and analysis on the latest market action, check out more Catalysts here.
It's nighttime for some of today's trending tickers. We are watching automakers, retail names and Shopify. First up here, automakers rising after news the US is pausing reciprocal tariffs on China for 90 days as the two nations continue negotiations to find a permanent trade deal. Ford, General Motors and Stellantis all withdrew or trimmed their guidance for the full year, citing tariff uncertainty. The auto industry still facing sector specific tariffs of 25% on all imported vehicles and auto parts, as well as 25% on imported steel and aluminum.
Next up, retailers also getting a boost from progress on trade negotiations. Nike, Lululemon and Target all rising. But Target is climbing despite getting a downgrade from Bernstein to underperform this morning. Notable here that the de minimis exemption which allows packages below a certain value to be imported tax-free, does not appear to be part of the US-China truce. That could still be a headwind for so-called fast fashion retailers going forward.
And finally, Shopify is set to replace software company MongoDB on the NASDAQ 100 index starting May 19th. Shares of Shopify jumping on the news. The e-commerce platform is up over 50% in the past 12 months, but is still taking losses year to date.
