Stocks making the biggest moves premarket: Nvidia, Best Buy, Eli Lilly, Tesla, Amazon and more
Check out the companies making headlines before the bell. Big Tech stocks – Shares of megacap technology companies surged after the U.S. and China agreed to temporarily cut tariffs , bringing the U.S. tariff rate on Chinese imports down to 30% and China’s duties on U.S. imports to 10%. Tesla , which has seen declining China sales amid increasing competition from local automakers, rose more than 7% — as did Amazon . Apple , which makes the majority of its iPhones in China, gained more than 6%. Meta Platforms and Nvidia advanced more than 5% and more than 4%, respectively. Retail stocks – Retailers vulnerable to China tariffs soared following the agreement between the U.S. and China to suspend most levies. RH jumped 17%, Best Buy rose 10% and Five Below rallied 11%. China stocks – U.S.-listed shares of Chinese companies rose following the U.S.-China tariff announcement. E-commerce giants PDD Holdings , Alibaba and JD.com climbed more than 8%, 7% and nearly 6%, respectively. Meanwhile, tech giant Baidu jumped more than 4%. Las Vegas Sands , Wynn Resorts – The casino operators each climbed more than 3% following the U.S.-China trade negotiation updates. Both are highly exposed to China given their properties in Macao, which is known as the “Las Vegas of Asia.” Pharma stocks – Shares of several drugmakers traded lower after President Donald Trump said on Sunday that he will sign an executive order Monday morning that would reduce prescription drug costs ” almost immediately, by 30% to 80% ” to match prices paid several by other countries. Eli Lilly shares slid about 3%, while Amgen and Pfizer shares each dropped more than 2%. Shares of Johnson & Johnson and Merck also each declined more than 2%. NRG Energy – Shares of the energy and home services company increased almost 9%. On Monday, the company announced that it will acquire a power portfolio , which includes several natural gas generation facilities across nine states, from LS Power for $12 billion. The deal is expected to close in the first quarter next year. — CNBC’s Alex Harring, Pia Singh and Michelle Fox Theobald contributed reporting.
