Magnificent 7 Stocks Live: Trade Talks Lead To Spiking Share Prices
Key Points
-
U.S. tariffs on China will drop 115 percentage points to 30%. China’s levies on U.S. imports will drop to 10%.
-
While today’s 1,000-point Dow rally has been impressive, similar days may be ahead.
Live Updates
The Magnificent 7 Could See Even More Upside
While today’s 1,000-point Dow rally has been impressive, similar days may be ahead.
When the U.S. and China meet again in the next few weeks, they’ll work out a bigger agreement on trade. While nothing has been set in stone with that just yet, markets are still celebrating today’s trade breakthrough.
Here’s where that currently stands.
Under the 90-day pause, both countries lowered tariffs by 115 percentage points to 10%. The 20% fentanyl-related tariff from the U.S. remains in place, so most Chinese goods face a 30% rate in total, down from 145% previously, as noted by CNBC.
The Magnificent 7 Are Just Starting to Rally Back
As of May, the Magnificent 7 lost about $6 trillion in value since their peak in late 2024.
Also, at its trough, the Roundhill BIG Tech ETF (NASDAQ: MAGS) – which tracks the Magnificent 7 plummeted from about $56 to a low of $39. However, thanks to the latest U.S.-China news, the ETF is quickly rebounding higher.
Making the Mag 7 even more attractive, analysts believe they can easily beat the S&P 500 in earnings this year. Plus, with valuations off their 2024 peaks, investors are coming back to the table to feast.
The U.S. and China have finally agreed to a temporary – but significant easing of tariffs.
In fact, according to U.S. Treasury Secretary Scott Bessent, U.S. tariffs on China will drop 115 percentage points to 30%. China’s levies on U.S. imports will drop to 10%.
More information on specifics can be found in the Joint Statement on U.S. China Economic and Trade Meeting in Geneva at WhiteHouse.gov.
As a result of the agreement, the Dow Jones is up about 1,050 points. The NASDAQ is up 663, as the S&P 500 adds 156 points. Even better, it’s boosting the Magnificent 7 stocks.
- Apple (NASDAQ: AAPL | AAPL Price Prediction) is up 5.6%, or $11.25.
- Microsoft (NASDAQ: MSFT) is up 1%, or by $4.80.
- Alphabet (NASDAQ: GOOG) is up about 3%, or by $4.71.
- com (NASDAQ: AMZN) is up 7.4% or by $14.55.
- Nvidia (NASDAQ: NVDA) is up 4%, or by $4.80.
- Meta Platforms (NASDAQ: META) I up 6.5%, or by $38.73.
- Tesla (NASDAQ: TSLA) is up 7%, or by $21.23.
© Fahroni / Shutterstock.com
Top Gaining Stocks
Top Losing Stocks