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Let's take a look at some stocks on the move today. I'm Nathan Hager, joined by Bloomberg's Valerie t Teal. As we get the week started with a lot of trade positivity this morning, with the US and China sounding like they could be getting closer to a deal, and I think we could probably talk about it more than a few individual stocks that are moving just off the back of that news. Valerie, good morning, Yeah.
That's right. Let's start with Nvidia, feeling a lot of the optimism on the back of these US China trade talks is outperforming across the mag seven up two and a half percent in pre market trade, and that comes as the US and China are close to closing this trade deal now. While semiconductors weren't directly mentioned, better relations between the two could pose for a further breakthrough within the tech trade between the two world's largest economies. We
also want to talk about rare earth miners, Nathan. They are on a back foot. MP Materials down five percent, Critical Metals down seven point six, USA rare Earth down five point six, And this is on the back of US Treasury Secretary Scott Bessant teasing that a pliminary consensus has been reached and includes a delay of China's rare earth export controls by one year.
Of course, it is a Monday, so we've got some deal news this morning, and one stock in particular is soaring on some deal news.
Yeah, that's Avidity Biosciences, up forty four percent in pre market trade. Novartis has agreed to buy the biopharma company for seventy two dollars a share, so we're rising forty four percent, up just shy to seventy one dollars a share, so right below the acquisition level. It was a twelve billion dollar deal for Novartis, the largest acquisition for the Swiss pharma giant in over a decade, and it seeks
to boost its drug pipeline this acquisition. Nathan Avidity has experimental drugs focused on rare earth diseases.
Of course, this is a big week for earnings. Some of the biggest companies in the S and P five hundred are going to be reporting, but one company that's reporting earnings is the biggest decliner this morning, and it is well away from the tech story.
Yeah, this is Carter's, the baby apparel company. Now, while we don't normally mention this stock, it is struggling with the fallout from tariff, so it is telling us maybe a bit of a macro picture of what's going on in apparel. Carters is down nearly sixteen percent in pre market trade. The company is dependent on imports from high tariff countries like Vietnam, Cambodia, Bangladesh. They have suspended their full year guidance and said it would reduce its workforce
by fifteen percent. The company also announced it would close fifteen percent of stores in North America, which is up from its previous target of closing ten percent, as aims to save costs on the back of tariffs.
And finally, Valerie for anyone who wants to trade off the back of the Argentinian election results, looks like there's an ETF for that.
Yes, there is.
ARGT is a US listed Argentina and e f ETF and it is soaring in the pre market, up sixteen percent. Some bank stocks that are that also have US ad rs are soaring over thirty percent. One of the big ones is BBVA Argentina that's up thirty five percent, or it's USADRS or up thirty five percent in pre market trade.
We also have the dollar bond soaring as well. This comes after Mela's party one the Argentina midterm vote that will give the libertarian leader a strong foothold in government, and the results should help ease doubts and whether Argentina will continue to receive crucial support from the US.
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