The US stock market began the day with a mixed tone, with investors reacting to President Donald Trump’s latest trade moves. The S&P 500 slid as concerns over tariffs mounted.
Among major movers, Amazon rose 0.3% after kicking off its Prime Day sales event. Tesla rebounded 0.9% following a disappointing CEO Elon Musk announcement about starting a new political party. Oracle gained 1.2% after Jefferies lifted its target price for the software giant. JPMorgan Chase and Goldman Sachs fell, with HSBC downgrading them to “reduce” from “hold”.
SolarEdge Technologies dropped 5.3% as President Trump issued an executive order to limit tax credits for solar and wind energy projects. Enphase Energy shares also plummeted 3%. Robinhood rose 0.8% after CEO Vlad Tenev discussed tokenized equities with regulators.
Ciena fell 3.4% after Morgan Stanley downgraded the company, citing a lack of margin upside. UWM Holdings, however, saw its stock rise 1.3% following an upgrade to “overweight” from Barclays.
Source: https://www.investing.com/news/stock-market-news/amazon-tesla-and-oracle-rose-premarket-enphase-energy-jpmorgan-fall-4126146