By Joe Woelfel

Stocks rose sharply Tuesday as Wall Street rebounded from a sharp selloff as traders held out hope they have seen the worst of the tariff-fueled declines.

President Donald Trump said he had a "great call" Tuesday with South Korea and that " China also wants to make a deal, badly ... We are waiting for their call. It will happen!"

These stocks were making moves Tuesday:

Apple was up 2.2% after closing down 3.7% on Monday. It has fallen 19% over the past three trading sessions, its worst three-day stretch since July 20, 2001, when it fell more than 20%. The Wall Street Journal reported Monday that Apple plans to send more iPhones to the U.S. from India to offset the high cost of China tariffs. On Monday, Trump said he would impose an additional 50% tariff on China if Beijing doesn't retract the 34% increase it threatened against the U.S. on Friday. China said Tuesday it would retaliate further if Trump carried out his threat. Most of Apple's products are assembled in China.

Nvidia rose 6%. Semiconductors have been excluded so far from Trump's tariff plans but the main risk to Nvidia, the leading maker of artificial-intelligence chips, is whether it gets caught up in escalating tensions between the U.S. and China.

Broadcom rose 7.7% after the semiconductor and software company said its board authorized a new, $10 billion stock buyback program through the end of the year. The repurchase program "reflects the board's confidence in the strength of Broadcom's diversified semiconductor and infrastructure software product franchises," said Hock Tan, president and CEO, in a statement.

Shares of CVS Health, UnitedHealth, and Humana -- insurers that offer Medicare Advantage plans to seniors -- were rising after the federal government announced an estimated $25 billion increase in payments to the plans in 2026. The increase in payments from the government was higher than initially expected and accounts for higher projected costs in the program, the Centers for Medicare and Medicaid Services said Monday. CVS rose 7.7%, UnitedHealth rose 6% and was the best performer in the Dow Jones Industrial Average, and Humana jumped 10%.

Super Micro Computer was up 3.7% after closing up 11% Monday and finishing as the best-performing stock in the S&P 500. Shares of the maker of artificial-intelligence servers now have risen 12% for the year but remain down 62% over the past 12 months.

MicroStrategy rose 1.1%. Shares of the largest corporate holder of Bitcoin, which does business as Strategy, said in a regulatory filing Monday that its unrealized loss on digital assets for the first quarter was $5.91 billion, which it expects will result in a net loss in the period despite an income tax benefit of $1.69 billion. The stock fell 8.7% on Monday.

Shares of electric-vehicle maker Tesla were rising 4.1% after closing off 2.6% on Monday. Longtime Tesla bull, Dan Ives at Wedbush, lowered his price target on the stock to $315 a share, down from a Wall Street high of $550. Ives kept his Buy rating on the stock but said CEO Elon Musk has created a crisis with the Tesla brand. The stock has fallen almost 18% over the three trading sessions following Trump's "Liberation Day" when the president announced higher-than-expected tariffs.

Marvell Technology rose 7.4% after the semiconductor company said it would be selling its automotive ethernet business to Infineon Technologies in an all-cash transaction valued at $2.5 billion. The business is expected to generate revenue of between $225 million and $250 million in fiscal 2026, Marvell said. The divestiture is expected to close within the year.

Charles Schwab was gaining 3.5% to $72.52. The brokerage was upgraded by Morgan Stanley to Overweight from Equal Weight, though its price target was reduced to $76 from $91.

Cal-Maine Foods, the egg producer, is scheduled to report quarterly earnings after the closing bell Tuesday.

Write to Joe Woelfel at joseph.woelfel@barrons.com

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April 08, 2025 11:17 ET (15:17 GMT)

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