From Nasdaq: 2025-05-12 08:58:00

China and the United States reached an unexpected breakthrough in trade negotiations, with both sides agreeing to slash tariffs for the next 90 days. This news sent US equity markets soaring, with the Nasdaq gaining over 4% and the S&P 500 recouping all losses since April 2nd.

President Trump announced an executive order implementing a “Most Favored Nation’s Policy” for drug prices, aiming to align US prices with the lowest worldwide. This move caused a drop in the SPDR S&P Biotech ETF and big pharma stocks like Merck.

OpenAI, the parent company of Chat-GPT, is planning to shift to a public benefit corporation and eventually go public. This decision comes after months of moving towards a for-profit structure and could benefit both private shareholders and Microsoft investors, as Microsoft owns a 49% stake in OpenAI.

Zacks has named a semiconductor stock as the number one pick, forecasting significant growth in the global semiconductor market from $452 billion in 2021 to $803 billion by 2028. This top chip stock is positioned to capitalize on the growing demand for AI, Machine Learning, and IoT technologies, offering substantial room for growth.



Read more at Nasdaq: Surprise Breakthrough: US-China Talks Spark Market Rally