The Biden administration, facing retaliation over its chip crackdown on China, has reportedly told allies it is considering using the harshest trade restrictions available if companies such as Tokyo Electron or ASML continue to give the country access to advanced semiconductors.
For his part, Donald Trump announced that he planned to apply new customs duties on Chinese imports ranging from 60 to 100%! In addition, he mentioned that a customs duty of 10% would also be imposed on imports from other countries. That was all it took to correct Nvidia (-6.62% to 117.99), TSMC (-7.98% to 171.2), AMD (-10.21% to 159.42) and even ASML (-12.74% to 932.06), the Dutch giant also listed on Wall Street having just revealed solid results.
Johnson & Johnson (+3% to 156.58) reported a profit and turnover higher than expected for the 2th quarter, thanks in particular to solid sales of its drugs Darzalex and Stelara.
The group US Bancorp (+4.55% to 45.26) reported a 10% drop in its adjusted profit in the second quarter, penalized by a drop in interest income and a lackluster demand for loans.
Elevance Health (-5.82% to 520.93) beat Wall Street estimates for its quarterly profit as the insurer spent less than expected to cover its members’ medical expenses.
Google, the main subsidiary ofAlphabet (-1.58% to 181.02) won a class action lawsuit in California on Monday that claimed it too narrowly restricted how customers used its mapping products.
Spirit Airlines (-10.76% to 2.82) announced that its turnover for the 2th quarter is expected to be about $1.28 billion, lower than initially expected, due to a decline in non-ticket sales revenue.
Eli Lilly fell 3.82% to 905.59 after Roche announced that its second obesity drug candidate had performed well in testing.
Delta Air Lines lost 0.56% to 45.76 as Fitch Ratings upgraded the group’s credit rating to investment grade, thanks to the improvement of its balance sheet over the past three years.
THE Dow Jones thus gained 0.59% to 41,198.08 points, the Nasdaq Composite lost 2.76% to 17,997.81 points and the S&P 500 1.39% to 5,588.27 points.
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