Stock index futures are pointing sharply higher after the United States and China agreed to temporarily slash reciprocal tariffs in a deal that surpassed expectations. Meanwhile, President Donald Trump said he would cut prescription drug prices by 59%, but gave no further details about his plan to lower costs ahead of a health-related event to take place at the White House.
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In pre-market trading, S&P 500 futures are up 3.2%, Nasdaq futures advanced 4%, and futures for the Dow Jones Industrial Average are up 2.7%.
Check out the rest of the morning’s top movers from around Wall Street, compiled by The Fly.
HIGHER –
- Apple (AAPL) up 6% on the trade deal news as well as The Wall Street Journal reporting that the company is considering raising the prices of its fall iPhone lineup
- ACI Worldwide (ACIW) up 5% after DA Davidson upgraded the stock
- Johnson Controls (JCI) up 4% after Deutsche Bank upgraded the stock
U.S.-LISTED CHINESE STOCKS UP AFTER TRADE DEAL –
PHARMA COMPANIES DOWN AFTER TRUMP COST TEASE –
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AAPL:
- “Strong Upside Ahead,” says Morgan Stanley Analyst about Apple Stock (AAPL)
- Apple Gets Set to Hike iPhone Prices But Shush Don’t Blame Tariffs
- Apple considers raising iPhone prices, without blaming tariffs, WSJ says
- ‘Magnificent Seven Stocks on Fire’ as Investors Cheer U.S.-China Tariff Deal
- Optimistic Outlook on Apple: Buy Rating Amid Short-Term Challenges and Long-Term Growth Potential