Tesla CEO buys shares, China says Nvidia broke antitrust law: Morning Buzz

The major averages were mixed near noon, with traders focused on President Trump’s comments on U.S.-China trade negotiations supposedly going well. Top officials from both countries are holding talks for a second day over tariff rates and the imminent deadline of Chinese-owned social media platform TikTok.

Meanwhile, a broader sense of cautious optimism in the market is fueled by widespread expectations that the Federal Reserve will deliver its first interest rate cut of 2025. Most investors expect this to be a 25 basis-point reduction, with the debate more about the message coming from Fed Chair Jerome Powell than the magnitude of the cut itself.

Looking to commodities, gold prices are climbing again, with the “safe haven” commodity surpassing the $3,700 threshold. Oil prices are also on the rise, rebounding from recent declines.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.

1. STOCK NEWS:

• China’s State Administration for Market Regulation said Nvidia (NVDA) has violated the country’s anticompetition law
• Tesla (TSLA) CEO Elon Musk disclosed the purchase on Friday, September 12, of 2,568,732 shares of Tesla stock
• California Resources (CRC) and Berry Corporation (BRY) to combine in an all-stock transaction
• A framework for a deal on TikTok has been reached in trade talks with China in Madrid, U.S. Treasury Secretary Scott Bessent said, according to Reuters
• President Trump said in a Truth Social post that the SEC should shift to companies reporting earningsupgrades Union Pacific (UNP) to Buy following recent selloff
• GE Vernova (GEV) upgraded at Melius Research, here’s why
• Under Armour (UAA) downgraded to Neutral at Rothschild & Co Redburn
• CVR Energy (CVI) downgraded to Underperform at Mizuho
• Beyond Meat (BYND) cut to Sell at Argus amid rising costs and lower volumes

3. AROUND THE WEB:

• Samsung (SSNLF) has agreed to settle a patent lawsuit over wireless tech with Headwater Research following a $279M jury verdict against Samsung earlier in 2025, Reuters says
• Japan will provide roughly $3.63B to Micron (MU) for R&D and capital spending at its Hiroshima fab to mass produce advanced DRAM, aiming for shipments by August 2028, Nikkei Asia reports
• Whirlpool (WHR) told the Trump administration that overseas competitors may be evading tariff bills by undervaluing their imports, WSJ says
• U.S. Food and Drug Administration Commissioner Martin Makary said in a New York Times guest essay that Hims & Hers’ (HIMS) Super Bowl advertisement breached federal law as it highlighted the benefits of weight-loss drugs without mentioning side effects
• Kerrisdale announced a short position in CoreWeave (CRWV)

4. MOVERS:

• Monte Rosa Therapeutics (GLUE) gains after announcing a collaboration with Novartis (NVS)
• Ocugen (OCGN) increases after executing a licensing agreement with Kwangdong Pharmaceutical
• Amprius Technologies (AMPX) higher after securing a $35M purchase order
• KindlyMD (NAKA) lower after filing to sell 590.26M share offering
• Red Cat (RCAT) falls after entering a strategic collaboration with Safe Pro (SPAI)

5. EARNINGS/GUIDANCE:

• PG&E (PCG) backed its guidance for FY25
• Hain Celestial (HAIN) reported Q4 results, with EPS and revenue missing consensus
• Coda Octopus (CODA) reported Q3 results, with CEO Annmarie Gayle commenting, “Despite the uncertain global policy environment, I am pleased with our overall financial results”
• Alaska Air (ALK) provided guidance for Q3
• Perma-Pipe International (PPIH) reported Q2 results, with EPS lower year-over-year

INDEXES:

Near midday, the Dow was down 0.10%, or 48.06, to 45,786.16, the Nasdaq was up 0.90%, or 198.60, to 22,339.70, and the S&P 500 was up 0.45%, or 29.73, to 6,614.02.