Trending stocks as easing trade tensions buoy U.S. market

U.S. stocks had a fairly positive week, with a 90-day pause in tariff escalations with China bringing some relief to investors and giving a boost to the market. The S&P 500 ended the week 2.7% higher, while the Dow Jones Industrial Average and Russell 2000 inched 0.9% and 0.7%, respectively. The Nasdaq Composite rose 3.6% in the week. The market was also buoyed by strong economic data, with inflation cooling to 2.3% in April and jobless claims holding steady, although consumer sentiment remains low, with the University of Michigan’s index falling to 50.8, the second-lowest on record. Overall, the indicators remain encouraging and the market appears bullish, at least for the short term. Amid the positivity, these were some of the trending stocks for the week: Tesla ( TSLA ) led a Monday rally among the “Magnificent Seven” after the U.S. and China agreed to a 90-day tariff truce, slashing levies on both sides. The news lifted tech stocks, with Amazon up 8% on Monday, Apple 6.2%, Meta 8%, Nvidia 5.4%, Alphabet 3.4%, and Microsoft 2.4%. Nvidia ( NVDA ) turned positive for the year this week, becoming the latest member of the “Magnificent 7” to move into the green. The recent surge came after CEO Jensen Huang announced Tuesday that Nvidia would supply more than 18,000 of its top AI chips to Saudi Arabia. The news followed Huang’s appearance alongside other tech executives and U.S. President Donald Trump at a Saudi-U.S. investment forum in Riyadh. Doximity ( DOCS ) dropped on Friday after the online medical platform issued Q1 and fiscal 2026 guidance below expectations, citing macroeconomic uncertainty, despite topping Street estimates with its Q4 FY25 results. Solar stocks rallied on Tuesday as House Republicans moved toward a more moderate deal on clean energy tax credits, easing industry concerns. First Solar ( FSLR ) advanced nearly 22% for the week, Array ( ARRY ) +22%, Maxeon Solar Technologies ( MAXN ) +10%, Sunrun ( RUN ) +25%. UnitedHealth Group ( UNH ) slipped on Tuesday after CEO Andrew Witty announced his resignation for personal reasons. At the same time, the company withdrew its 2025 guidance, citing a continued rise in medical care utilization. Dick’s Sporting Goods ( DKS ) on Thursday struck a $2.4B deal to acquire Foot Locker ( FL ), uniting two retailers impacted by U.S. President Donald Trump’s tariff battles. Foot Locker shares soared more than 80% in premarket trading, while Dick’s slipped as much as 13%. Walmart ( WMT ) posted another strong quarter of sales and earnings growth, but warned that tariffs and mounting economic uncertainty could eventually force the retail giant to raise prices. Baristas at roughly 100 unionized Starbucks ( SBUX ) locations went on strike since Sunday in protest of the company’s new dress code, according to the labor group representing them. Beyond the dress code dispute, contract talks between Starbucks ( SBUX ) and its unionized workers have stalled for over two years. Starbucks Workers United recently rejected the company’s latest proposal, which included annual raises of at least 2%, saying it fell short on wages, healthcare, and scheduling guarantees. Super Micro Computer ( SMCI ) j umped on Wednesday as it entered a multi-year partnership agreement with Saudi Arabia-based data centre company. The deal, valued at $20B, is expected to “fast-track delivery of ultra-dense GPU platforms and rack systems for DataVolt’s hyperscale AI campuses in the Kingdom of Saudi Arabia and the U.S. CoreWeave ( CRWV ) drew attention on Thursday after the cloud service provider reported first-quarter revenue that beat expectations and earned praise from Wall Street in its debut quarter. However, shares fell amid concerns that the company is set to spend between $20B and $23B this year on AI infrastructure capacity. Boeing ( BA ) shares touched a new 52-week intraday high on Wednesday after confirming a $96B order for up to 210 widebody jets from Qatar, following a separate order from Saudi Arabia a day earlier for 20 737-8 jets with options for 10 more. The company, alongside GE Aerospace ( GE ), secured a $14.5B commitment from Etihad Airways to invest in 28 American-made Boeing 787 and 777X aircraft powered by GE engines. Coinbase Global ( COIN ) said it expects to pay $180M-$400M in reimbursements and remediation after a recent data breach exposed sensitive customer information and led to users being tricked into sending funds to the attackers. On May 11, the crypto exchange “received an email communication from an unknown threat actor claiming to have obtained information about certain Coinbase customer accounts. Applied Materials ( AMAT ) fell after the semiconductor equipment maker reported mixed fiscal second quarter results, with revenue missing estimates despite 7% Y/Y growth. Novo Nordisk ( NVO ) fell on Monday after Eli Lilly’s ( LLY ) Zepbound outperformed Wegovy in a head-to-head trial, showing 47% greater weight loss. Later, on Friday, Novo ( NVO ) announced that its CEO, Lars Fruergaard Jørgensen, will resign from his leadership role as the company searches for his successor. The drugmaker said that the leadership transition was made in light of the company’s recent market challenges and the performance of its stock since mid-2024. More on the trending stocks Nvidia’s 2025 Pain Looks Overdone — Fundamentals Suggest Strong Q1 (Upgrade) UnitedHealth: Stock Plunges, But Looks Cheap On Valuation Models UnitedHealth Joins Scandal Stocks List Nvidia partner says US plants for servers to be ready in 2026 Trump unveils $14.5B agreement with Boeing, GE Aerospace and Etihad Airways

Source: Seeking Alpha