Tesla, Samsung, energy stocks, & European semiconductors climb
Energy stocks, like Cheniere Energy (LNG) and Venture Global (VG), are moving higher on the back of the US–EU trade deal.
Tesla (TSLA) stock is climbing after CEO Elon Musk announced that the company signed a $16.5 billion chip deal with Samsung (005930.KS).
European semiconductor companies, like ASML Holding (ASML) and STMicroelectronics (STM), are moving to the upside from both the US–EU trade deal and the Tesla–Samsung chip deal.
Stay up to date on the latest market action, minute-by-minute, with Yahoo Finance's Market Minute.
It's time for Yahoo! Finance's market minute. US stocks are trading at record highs today after the US and the EU struck a trade deal over the weekend that will see a 15% tariff imposed on goods from the European Union. US energy stocks moving higher on the back of the deal. As Trump said that the EU agreed to purchase $750 billion in American energy products and invest $600 billion in the US on top of existing commitments. EU president Ursula von der Leyen said the purchases would help reduce the bloc's dependence on Russia for natural gas. Plus, Tesla striking a $16.5 billion deal with Samsung to produce AI chips for the EV maker. CEO Elon Musk confirmed the news on X, saying Samsung's giant new Texas fab will be dedicated to making Tesla's next generation AI6 chip. And shares of European semiconductor companies getting a boost off the back of the Samsung deal and the EU US trade deal. The agreement exempts tariffs on semiconductor equipment, giving an additional boost to the sector after its two-week long slide. And that's your Yahoo! Finance market minute.
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