U.S. stocks rebounded slightly as a top Trump official suggested potential tariff relief for Canada and Mexico
U.S. stocks edged higher Wednesday afternoon, rebounding modestly from a sharp sell-off earlier in the week as Commerce Secretary Howard Lutnick suggested potential tariff relief for Canada and Mexico, hinting that the U.S. could find a compromise “in the middle.”
As the day ended in New York, the S&P 500 added 1.1%, while the Nasdaq $NDAQ 100 climbed 1.4%. The Dow Jones Industrial Average added 485 points or 1.1%.
Here are stocks to watch today.
CrowdStrike $CRWD (CRWD) stock fell 9% on Wednesday after the cybersecurity software company provided disappointing earnings guidance. The company gained significant attention last year following a widespread global tech outage linked to its software.
General Motors $GM (GM) stock surged more than 3% as the broader market rebounded in the morning. The rally appeared to be driven by investor optimism following Lutnick’s remarks suggesting potential tariff relief for Canada and Mexico.
Marvell Technology’s (MRVL) shares were down as the semiconductor company is set to report earnings after the market closes.
Shares of pharmaceutical giant Moderna $MRNA (MRNA) surged over 6% on Wednesday after strategic insider stock purchases by the company’s CEO and a board director. According to a recent Securities and Exchange Commission (SEC) filing, CEO Stephane Bancel and board director Paul Sagan acquired $6 million worth of Moderna shares.
Shares of Novo Nordisk (NVO) climbed 3.5% after the company announced plans to sell its weight loss drug Wegovy at less than half its usual monthly price through a new direct-to-consumer online pharmacy.
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