Tech, Autos Help Wall Street Charge Higher

Reports suggest Trump's team is dialing back some of its more extreme tariff plans

Jake Scott

Deputy Editor

Jan 6, 2025 at 11:53 AM

SPX
RUT
IXIC
DJI

Wall Street is confidently higher today, looking to kick of the second week of 2025 with a bang. Leading the charge are semiconductor stocks, after an encouraging revenue update from Foxconn, as well as auto stocks, amid a reportedly significant change to President-elect Donald Trump's tariff plans.

The Dow Jones Industrial Average (DJI) and Nasdaq Composite Index (IXIC) boast triple-digit gains midday, the latter going for its best single-session gain since Nov. 6. The S&P 500 Index (SPX) sports a substantial intraday lead of its own, while the small-cap Russell 200 Index (RUT) is pacing for a fourth-straight win.

Continue reading for more on today's market, including:

Why FuboTV stock is breaking out.
2 analysts turn bullish on American Airlines stock.
Plus, an auto sector update; potential Paycor acquisition; and Miniso's offering.

Midday Market Stats January 062025

Ford Motor Co (NYSE:F) stock is seeing an uptick in call activity, as the auto sector gets a boost after a Washington Post report indicated President-elect Donald Trump is considering imposing tariffs on "critical imports" only, a key change to his ambitious tariff plan. So far, 30,000 bullish bets have been placed -- double the amount typically seen at this point -- compared to just 4,015 puts. Most popular is the weekly 1/10 10-strike call, followed by the 10.5-strike call in the same series. At last glance, F was up 2.2% at $10.11, as it looks to overcome a 13.2% year-over-year deficit.

Shares of payroll and human-resources software specialist Paycor HCM Inc (NASDAQ:PYCR) are outperforming on the Nasdaq today, last seen 21.9% higher to trade at $22.60. Paychex (PAYX) is reportedly in talks to acquire the company, though no representatives from either entity have commented on the matter. Trading at its highest level since October 23023, Paycor stock is up 74.3% over the last six months.

PYCR Chart January 062025

U.S-listed shares of China-based lifestyle retailer MINISO Group Holding Ltd - ADR (NYSE:MNSO) are some of the worst on the Nasdaq this morning, down 10% at $24.81 at last glance. Weighing on MNSO -- which sports a 19.6% year-over-year gain -- is a new offering of equity linked securities due 2032 to the tune of $550 million, which will fund global expansion.

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