Company Highlights

• Apple: Shares saw a recovery of over 5% following a streak of declines, largely driven by investor concerns about the potential impact of President Trump’s 104% tariff on Chinese imports, effective as of Wednesday.
• Walmart: The retail giant’s stock increased by nearly 5% after CFO John Rainey emphasized the company’s ability to capture market share during economic downturns. Although Walmart revised its first-quarter operating guidance downward, it maintained its overall forecast for the year.
• Capri: Shares surged by more than 10.3% amid rumors from The Wall Street Journal about a potential collapse of the deal to sell Versace to Prada.
• Delta Air Lines: The airline’s stock jumped over 7% despite the company retracting its 2025 projections, with CEO Ed Bastian highlighting that tariffs were negatively impacting booking rates.
• Trump Media & Technology Group: Shares increased by 8% after former President Trump encouraged his followers to buy shares via a post on Truth Social.
• Banking Sector: Financial stocks faced downward pressure, with Citigroup and Wells Fargo dropping more than 3% each, while JPMorgan Chase slipped by 0.6%. A looming recession continues to weigh on market sentiment.
• Tesla: The electric vehicle maker’s stock climbed by over 5%, making a partial recovery from a significant decline of more than 17% in the past week amid escalating trade tensions with China.
• Pharmaceutical Giants: Stocks for Eli Lilly, Pfizer, and AbbVie each fell following President Trump’s announcement on the impending imposition of major tariffs on pharmaceuticals. AbbVie and Eli Lilly lost more than 4%, while Pfizer faced a drop of 3%.

Upcoming Events

For those looking to gain deeper insights into today’s fluctuating markets, CNBC is hosting a special event at the New York Stock Exchange:

• Event: CNBC Pro LIVE
• Date: Thursday, June 12
• Highlights: Interactive clinics hosted by industry experts, networking opportunities, and engaging discussions.

Limited tickets are available for this exclusive event that promises valuable insights into the current state of the markets.