The US stock market has rebounded despite the impact of new tariffs imposed by President Trump. The S&P 500 Index rose 34 points, or 0.6%, closing at 6,021 points. The Dow Jones Industrial Average (DJIA) opened lower but closed up 123 points, or 0.3%, at 44,860 points. Meanwhile, the Nasdaq also gained 119 points, or 0.6%, finishing at 19,174 points.
Several sectors were still affected by the new tariffs, causing declines in some stocks. Automakers Ford (F, Financial) and General Motors (GM) saw their shares fall by 2.6% and 9%, respectively. Constellation Brands (STZ), which owns the Mexican beer Corona, experienced a share price drop of over 3%.
Among Dow components, pharmaceutical company Amgen (AMGN) saw its stock decline by about 5% after releasing weight loss drug data. However, following the US government's proposal to cover weight loss drugs under Medicare and Medicaid, companies Novo Nordisk (NVO) and Eli Lilly (LLY) rose nearly 2% and 5%, respectively.
Tesla (TSLA) narrowed its gains to close nearly flat, while Nvidia (NVDA) increased by 0.6%.
