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Friday, September 26

Noteworthy US mega-cap moves today: Eli Lilly and Co (LLY) +1.5%. 

Geopolitical tensions have resurfaced as President Trump announced new tariffs on pharmaceuticals (100%), heavy trucks (25%), and kitchen cabinets (50%) set to take effect on October 1st. These developments may heighten concerns about global trade dynamics and could impact market sentiment across various sectors.

European equity indices are experiencing a mixed session amid these announcements; while some stocks show resilience despite tariff fears—such as gains in France's CAC 40—the overall mood remains cautious ahead of key U.S. inflation data expected shortly after the European trading day begins.

iShares U.S. Aerospace & Defense ETF (ITA) [+0.4%, +24.4M]
The iShares U.S. Aerospace & Defense ETF (ITA) has increased by 0.4% during the pre-market session on Friday. President Trump's announcement of new tariffs, including a 100% duty on imported branded pharmaceuticals, is expected to impact global supply chains and investment strategies within the industrial sector. Concurrently, strong economic data revealing an upward revision of Q2 GDP growth to 3.8% has positively influenced market sentiment. Among the ETF's holdings, Boeing (BA) emerged as a significant contributor, benefiting from substantial aircraft orders from Turkish Airlines and Norwegian Group. Lockheed Martin (LMT) received a $610 million modification for the F-35 production program. Additionally, L3Harris Technologies (LHX) secured two defense contracts totaling $57.4 million. These developments align with ITA's performance in the current trading session.

Health Care Select Sector SPDR Fund (XLV) [+0.5%]
Health Care Select Sector SPDR Fund (XLV) has seen an increase of 0.5% in pre-market trading. President Trump announced a forthcoming 100% tariff on imported branded pharmaceuticals starting October 1, 2025, unless manufacturers begin construction of their U.S. plants. This announcement may significantly impact major pharmaceutical companies such as AstraZeneca, Eli Lilly, Johnson & Johnson, and Pfizer, among others. Additionally, stronger-than-expected economic data revealed an upward revision in Q2 GDP growth to 3.8%, contributing positively to market sentiment. Within XLV's holdings, notable contributors to its performance included Eli Lilly and Merck & Co., both of which experienced increased share prices following the tariff announcement.

BA | +3.8% | +5.2B
Boeing Co | Aerospace & Defense
Boeing Co. has recently secured substantial aircraft orders from Turkish Airlines and Norwegian Group. Turkish Airlines has made a firm order for up to 75 Boeing 787 Dreamliners, which includes 35 units of the 787-9 model and 15 of the 787-10 variant. Additionally, the airline plans to purchase as many as 150 more 737 MAX aircraft, marking its largest single-aisle order and expected to double its Boeing fleet. Concurrently, Norwegian Group has placed an order for 30 Boeing 737-8 aircraft, raising its total 737 MAX order book to 80 jets. Social media discussions have highlighted Turkish Airlines' firm order for 50 aircraft, with some posts referencing the political context surrounding Turkish President Erdogan's recent meeting in the Oval Office as a factor influencing the deal. These developments are viewed as pivotal for Boeing's recovery and growth in the aviation market.

LI | +4.2% | +1.8B
Li Auto Inc | Automobile Manufacturers
Li Auto Inc. has officially launched the Li i6, a five-seat battery electric SUV priced at RMB 249,800, with deliveries set to begin on September 27, 2025. This announcement was made approximately three hours ago and is viewed as a significant enhancement to the company's electric vehicle portfolio. Social media discussions have highlighted the innovative features of the I6 model, emphasizing its role in strengthening Li Auto's position in China's new energy vehicle market. The latest trading data shows that Li Auto's stock closed at US$25.81, reflecting a daily increase of approximately 1.5%, with a trading volume of over 9.6 million shares and a market capitalization nearing US$21.56 billion. Prior updates included delivery figures for August 2025 and second-quarter financial results, which may also be relevant to current market dynamics.

XPEV | +4.8% | +2.1B
Xpeng Inc | Automobile Manufacturers
Xpeng Inc. has seen a notable price increase in premarket trading, attributed to its announcement of entering five European markets—Switzerland, Austria, Hungary, Slovenia, and Croatia—through a partnership with Magna International Inc. for electric vehicle production in Austria, set to begin in the third quarter of 2025. The company reported a significant year-over-year growth of 137% in overseas deliveries from January to August 2025, totaling 24,702 units, while year-to-date sales reached 271,615 vehicles, reflecting a 252% increase compared to the same period last year. Additionally, the recent launch of the P7 Sedan in China generated substantial interest, with over 10,000 orders placed within seven minutes of its release. Meanwhile, Li Auto Inc. also experienced a price increase following the announcement of its new five-seat battery electric SUV, further underscoring the competitive dynamics within the electric vehicle market.

W | -2.9% | -292.4M
Wayfair Inc | Homefurnishing Retail
Wayfair Inc. saw a significant decline in stock value following the announcement of new import tariffs by President Donald Trump, effective October 1. The tariffs impose a 30% duty on upholstered furniture and a 50% tariff on kitchen cabinets and bathroom vanities. This policy aims to bolster domestic manufacturing but is expected to increase costs for consumers and potentially reduce profitability for retailers dependent on imported goods. In pre-market trading, Wayfair's shares dropped significantly, reflecting concerns over these tariffs. Additionally, social media posts by Trump about the tariffs contributed to a further decline in stock price. Conversations on social media highlighted worries regarding the risk of Nasdaq delisting due to excessive dilution if Wayfair were to issue more shares, referencing Nasdaq rule 5101 as a potential threat to the company's standing.

TSLA | +1.5% | +20.4B
Tesla Inc | Automobile Manufacturers
Tesla Inc. has experienced multiple price target increases from analysts today. Deutsche Bank raised its price target to 435 from 345, maintaining a Buy rating. Likewise, Wedbush elevated its target from 500 to 600, affirming an Outperform rating. These adjustments reflect a growing consensus among analysts regarding Tesla's strong market position. Social media discussions highlight these updates, with users noting the potential impact on Tesla's stock price, suggesting it could rise by 5% today. However, there are concerns surrounding Tesla's Full Self-Driving (FSD) program due to a significant exodus of top talent in September 2025, which may cast uncertainty on its future. Additionally, discussions on leadership dynamics within the company mention Elon Musk prioritizing voting control over compensation.

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