Stock Movers Pfizer Rises, Best Buy Surges, Nike Up After US China Trade Talks
May 12, 2025
Pfizer shares surged after Trump announced plans to cut drug costs, raising hopes in the market. Best Buy saw a boost thanks to positive U.S.-China trade talks and improved inventory management. Meanwhile, Nike's stock rose as optimism surrounding trade benefits its operations, coupled with strategic leadership changes within the company. The ripple effects of political decisions are clearly shaping market movements.
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Pfizer Shares Rise on Drug Price Cuts
- Pfizer shares rose more than 2% after President Trump announced plans to cut prescription drug costs by over 59%.
- The focus appears on Medicare and weight loss drugs, not a broad cut, easing initial investor concerns.
Best Buy Benefits from Trade Talks
- Best Buy benefits from softened U.S.-China trade tensions after weekend talks.
- Retailers started the year holding about 1% less inventory, so potential Chinese supply disruptions would have hurt them badly.
Nike Gains on Trade Optimism
- Nike shares climbed over 6% boosted by trade optimism from U.S.-China talks and a recent U.S.-U.K. trade deal.
- Half of Nike's shoes are made in Vietnam, insulating it somewhat from China tariffs, and leadership changes also influence sentiment.