Rare Earth Stocks — This sector experienced a notable surge after President Donald Trump accused China of holding the world “captive” regarding rare earth minerals, hinting at potential countermeasures. MP Materials saw a remarkable increase of 13%, alongside USA Rare Earth, which also benefited from the heightened attention.
Magnificent Seven — The major tech stocks, often referred to as the Magnificent Seven, faced a downturn on Friday following Trump’s warning of a “massive” tariff hike against China. Each of these stocks dropped by over 1%, with Amazon plummeting more than 3%, Nvidia decreasing by 1.5%, and Apple slipping by 2%.
China Stocks — Shares of Chinese companies traded in the U.S. also fell sharply in response to Trump’s threats. Notably, Alibaba and Baidu each experienced declines of over 6%, while PDD Holdings saw a reduction of 4%.
Rocket Lab — In contrast, the space exploration company Rocket Lab saw its stock rise by more than 4% after securing multiple launch contracts with the Japan Aerospace Exploration Agency. This week alone, the stock has surged over 23%, reflecting strong investor confidence.
Protagonist Therapeutics — The pharmaceutical stock experienced a significant rally, climbing 34% after The Wall Street Journal reported that Johnson & Johnson is in discussions to acquire Protagonist. This news has sparked considerable interest among investors.
Applied Digital — Shares of this datacenter builder surged by 19% following a report that revealed an impressive 84% increase in revenue for its fiscal first quarter compared to the same period last year. This growth highlights the company’s strong market position.
Doximity — On the flip side, the medical digital platform Doximity saw its shares tumble by 7% after JPMorgan downgraded the stock from neutral to underweight. The firm cited concerns over valuation, a competitive landscape, and potential risks to advertising spending on digital pharmaceutical products.
Mosaic — The chemical stock Mosaic faced a decline of over 9% after reporting disappointing preliminary third-quarter volumes. The company attributed this downturn to unexpected mechanical issues at its Riverview sulfuric acid plant and utility interruptions at Bartow in mid-September, which significantly impacted overall production for the remainder of the month.
Levi Strauss — The denim apparel maker Levi Strauss fell more than 11% after issuing weaker-than-expected earnings guidance for the fourth quarter. The company anticipates Q4 earnings to fall between 36 cents and 38 cents per share, while analysts surveyed by FactSet had projected earnings of 41 cents per share.
— Reporting contributed by CNBC’s Christina Cheddar-Berk, Yun Li, Alex Harring, and Sarah Min.
