Morning Business Report: Wall Street rebounds on tariff relief

Stocks are on the rise after the Trump Administration announced a temporary reprieve from steep reciprocal tariffs on electronic imports from China.

(LILAMAX)- Stocks are on the rise after the Trump Administration announced a temporary reprieve from steep reciprocal tariffs on electronic imports from China. Late Friday, the administration exempted tech products such as smartphones, computers, and semiconductors from new 125% tariffs, although a 20% tariff remains in place from previous rounds. The move provided relief for tech giants like Apple, Microsoft, and Nvidia, which rely heavily on Chinese manufacturing.

Meanwhile in Washington, the Federal Trade Commission is launching its high-stakes antitrust case against Meta, marking the culmination of a nearly six-year investigation. The agency alleges Meta violated competition laws through its acquisitions of Instagram and WhatsApp. The outcome could reshape the future of Meta’s $1.4 trillion advertising business—and potentially force the company to divest its most popular platforms.

The positive momentum in stocks comes after one of the market’s most volatile weeks in recent memory. Optimism surrounding potential trade negotiations and regulatory clarity has helped boost investor confidence heading into a new week.

In health news, a new company-funded study shows that patients taking Eli Lilly’s obesity drug Zepbound tend to maintain their weight loss for at least three years, with most regaining just 5% or less of the weight they lost. The findings, based on long-term use, suggest the drug remains effective over time when taken consistently—an encouraging sign for doctors and patients battling chronic obesity.

Swiss pharmaceutical giant Novartis is making a major investment in American manufacturing, announcing plans to build six new plants in the U.S. as part of a $23 billion expansion. Two facilities will be located in Florida and Texas, with a new research center slated for San Diego.