On this episode of Stock Movers:
- General Motors (GM) shares were up as President Donald Trump's said he's exploring possible temporary exemptions to automotive tariffs Monday. The pause would give auto companies more time to set up US manufacturing. Trump imposed a 25% tariff on fully built vehicles, with duties on parts set to take effect no later than May 3. His separate tariffs on Canada and Mexico already contain a carveout for vehicles with enough domestic content to meet requirements under the existing North American trade agreement.
- Apple (APPL) shares jumped as the Trump administration pressed ahead with plans for semiconductor tariffs but on Monday touted exclusions for popular consumer electronics from 125% tariffs on China and a 10% baseline global tariff as beneficial for Apple.
- Meta (META) shares dropped as the US Federal Trade Commission pushed ahead with its antitrust probe against the social media giant. They are arguing that the company must be broken up for illegally monopolizing the social media market after buying Instagram and WhatsApp more than a decade ago. Meta CEO Mark Zuckerberg testified in federal court earlier today. He argued that Meta's social networks are not just about friends, but also about discovering and learning about the world.
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