Stock Movers: Nvidia Rallies on Trade Hopes, Avidity Soars on Novartis Deal, Carter's Falls

Market Movers Driven by Trade and Deals

• 🇺🇸🇨🇳 Nvidia is outperforming among Magnificent Seven stocks, up 2.5% in pre-market trading, fueled by optimism that the US and China are nearing a trade deal.
• 💡 Better US-China relations could lead to breakthroughs in tech trade between the two largest economies, benefiting companies like Nvidia.
• 📉 Conversely, rare earth miners such as MP Materials and Critical Metals are down, anticipating a one-year delay in China's rare earth export controls.

Avidity Biosciences Acquisition

• 🚀 Avidity Biosciences shares are soaring 44% in pre-market trading following the announcement that Novartis will acquire the company for $12 billion, or $72 a share.
• 💊 This acquisition is Novartis's largest in over a decade and aims to bolster its drug pipeline with Avidity's experimental drugs focused on rare diseases.

Carter's Financial Struggles

• 🛍️ Carter's, the children's apparel company, is down nearly 16% in pre-market trade due to missed net sales for the third quarter and the ongoing fallout from tariffs.
• ⚠️ The company is dependent on imports from high-tariff countries and plans to reduce its workforce by 15% and increase store closures to 15% of its North American locations.

Argentinian Election Impact

• 🇦🇷 The ARGT ETF, tracking Argentina, is up 16% in pre-market trading following the election results.
• 🏦 Several Argentinian bank stocks with US ADRs, like BBVA Argentina, are up over 30%, and dollar bonds are also soaring, indicating positive market reaction to the election outcome.