By WSJ Staff
Amazon $(AMZN)$; Apple $(AAPL)$; Tesla $(TSLA)$: The biggest U.S. tech stocks surged in premarket trade after the White House and China agreed to substantial tariff cuts. Among them, Amazon sells many Chinese-made products on its platform; Apple does much of its assembly in China; and the country is an important market for Tesla.
A.P. Moeller-Maersk (DK:MAERSK.B); Hapag-Lloyd (XE:HLAG): News of lower trade barriers between the world's two biggest economies lifted shares of global shipping companies. Maersk and Hapag-Lloyd stocks both rose more than 10% in Europe.
Glencore (UK:GLEN): Lower tariffs and a rosier U.S.-China trade outlooked helped global mining stocks. Glencore shares rose more than 5% in London.
Kering (FR:KER); LVMH (FR:MC); Stellantis $(STLA)$; BMW (XE:BMW): Hopes of a revival in global growth also boosted the shares of big-name manufacturers in Europe-even those for which U.S.-China trade isn't a huge direct threat.
Pfizer $(PFE)$: The pharmaceuticals sector bucked the bullish trend after President Trump said he would sign an executive order aimed at reducing drug prices. Pfizer shares fell premarket.
This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).
(END) Dow Jones Newswires
May 12, 2025 05:02 ET (09:02 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.