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Stock markets are moving higher in premarket trading on Thursday as of the time of this writing. Two groups of stocks are doing particularly well: Big Techs Magnificent Seven and major chipmaker stocks. Shares in one stock that crosses over into both groupsNvidia Corporation (Nasdaq: NVDA)are currently up 6% in premarket trading. But NVDA isnt the only chip and tech stock that is up. Other major technology companies like Apple Inc. (Nasdaq: AAPL), Amazon.com, Inc. (Nasdaq: AMZN), and Broadcom Inc. (Nasdaq: AVGO) are also trending significantly higher. Why are Big Tech and chipmaker stocks surging this morning? It comes down to three pieces of news. Heres what you need to know. Markets and Big Tech jump on Trump tariff court ruling As of the time of this writing, market futures are trending higher this morning. S&P Futures are currently up 1.1%, Dow Futures are up 0.56%, and Nasdaq Futures are up 1.6%. The main reason for this broad surge in futures is a ruling issued by the U.S. Court of International Trade on Wednesday that declared President Trumps Liberation Day tariffs illegal. As CNBC notes, the three-judge panel ruled that the mechanism Trump used to invoke the tariffs without Congressional approvalthe International Emergency Economic Powers Act (IEEPA)doesnt grant the president the authority to impose universal tariffs. The judges declared that the Worldwide and Retaliatory Tariff Orders exceed any authority granted to the President by IEEPA to regulate importation by means of tariffs, and ordered not only a permanent halt to the tariffs but future modification to them as well. As Fast Company previously reported, multiple states and small businesses sued over the implementation of the tariffs. The judges also ruled against the Trump administration’s implementation of tariffs against Canada, Mexico, and China based on the importation of fentanyl into the United States, saying those separate tariffs fail because they do not deal with the threats set forth in those orders. Not all of Trumps tariffs have been ruled unlawful. The presidents tariffs on aluminum and steel can remain because they were not implemented under the IEEPA. The Court of International Trade gave the Trump administration 10 days to put a halt to the tariffs ruled illegal, but the Trump administration has already appealed the ruling, which may very likely end up before the Supreme Court. While the tariff situation is likely to continue to play out in the courts in the weeks ahead, news of the ruling has lifted futuresand Big Tech stocks. The companies that make up Big Tech’s Magnificent SevenGoogle, Amazon, Apple, Meta, Microsoft, Nvidia, and Teslafaced particular challenges from the tariffs since many of their products are sourced from China, the country that received the highest tariffs. If not directly sourcing their products from China, they still rely on supplies or components from the country, such as servers, that the tariffs have threatened to make acquiring more expensive. Heres how Big Techs Magnificent Seven stocks are currently trading based on the news: Alphabet Inc. (Nasdaq: GOOG): up 1.29% Amazon.com, Inc. (Nasdaq: AMZN): up 2.5% Apple Inc. (Nasdaq: AAPL): up 2.4% Meta Platforms, Inc. (Nasdaq: META): up 1.4% Microsoft Corporation (Nasdaq: MSFT): up 0.8% NVIDIA Corporation (Nasdaq: NVDA): up 6% Tesla, Inc. (Nasdaq: TSLA): up 2.49% Elon Musks time in the Trump administration comes to an end One of the Magnificent Seven stocksTeslais certainly getting a boost from the ruling against Trumps tariffs, but theres likely another reason why the stock is trending higher today, too. That reason is Elon Musk. On Wednesday, the CEO took to his social media platform X to announce that his time in the Trump administration has come to an end. As my scheduled time as a Special Government Employee comes to an end, I would like to thank President @realDonaldTrump for the opportunity to reduce wasteful spending, Musk wrote, adding, The @DOGE mission will only strengthen over time as it becomes a way of life throughout the government. Musk joined the administration in January to head the controversial Department of Government Efficiency (DOGE). But his work with the administration and DOGE has cost his most well-known company, Tesla, dearly. Musk’s involvement in politics has alienated many of the carmakers fans across the globe, leading to plummeting Tesla sales in many key markets, including those in Europe and the United States. News that he is leaving DOGE and the Trump administration is something Tesla investors have been waiting to hear for a long timeand it’s contributing to TSLA stock moving higher this morning. Nvidias earnings lift chip stocks Finally, while many chipmaker stocks are also getting a lift today due to the Trump tariff ruling news, chipmaker and chipmaker-adjacent stocks, including chip machine maker ASML Holding N.V. (Nasdaq: ASML), are also seeing a boost thanks to Nvidias Q1 fiscal 2026 earnings results, which the company announced yesterday. Nvidia reported revenue of $44.1 billion, which was up 12% from the previous quarter and 69% from the same quarter a year earlier. It also reported data center revenue of $39.1 billion, a 10% rise from the previous quarter and a 73% rise from the same quarter a year ago. As CNBC notes, the better-than-expected earnings results have sent NVIDIA Corporation shares higher. Currently, they are up 6%. But since Nvidia is often seen as a bellwether for other chipmakers and chipmaker-adjacent stocks, companies operating in those spaces are also seeing their shares rise this morning on Nvidias news. Advanced Micro Devices, Inc. (Nasdaq: AMD): up 2.9% Arm Holdings plc (Nasdaq: ARM): up 3% ASML Holding N.V. (Nasdaq: ASML): up 1.6% Broadcom Inc. (Nasdaq: AVGO): up 2.9% Intel Corporation (Nasdaq: INTC): up 1.28% Micron Technology, Inc. (Nasdaq: MU): up 2.4% NVIDIA Corporation (Nasdaq: NVDA): up 6% QUALCOMM Incorporated (Nasdaq: QCOM): up 1.69% Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM): up 1.1% Moreover, as Nvidia’s tehnology has been playing a key role in powering the artificial intelligence (AI) revolution, its earnings beat was seen as a sign that demand for AI remains strong. All in all, its looking like a positive start to the morning in the markets, especially for stocks that operate in the Big Tech and chipmaker sectors.
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E-Commerce
Your Ellie the Elephant Pinterest pinboard just became official. Pinterest has announced that its first-ever sports partnership will be with the WNBA champions New York Liberty. The social platform has made its name as a crucial resource for anyone planning a wedding or home renovation, but global head of consumer marketing Sara Pollack says the move into sports reflects a broader ambition. Pinterest is a really interesting place for fandom, says Pollack. It’s not where you’re going to see highlights from last night’s game. We have research that shows that Pinterest users are much more likely than non-Pinterest users to be looking for things like Game Day outfits, sports-themed recipes, and inspiration for hosting watch parties. So the unique role Pinterest plays is for those who have an immense fandom for something. It’s a place where those fans come to weave their fandom into a variety of things. And for us, that’s such an interesting opportunity. Pinterest’s revenue is up 17% year-over-year, according to its second quarter reporting earlier this month. Monthly active users surged 10% year-over-year to a record 570 million. The two-year deal is a boost for Pinterest, and will focus on the two brands collaborating through curated Pinterest boards, on-platform editorial content, and community outreach programs. A new content series called Away Game Fashion will go deep on the connection between hoops and fashion inspiration. Pinterest is also investing in refurbishing basketball backboards in the New York area. Pinterest searches for WNBA tunnel outfits were up over 2,000%, with terms like Sabrina Ionescu shoes pink up 1,706%, NY Liberty WNBA up 306%, and Ellie the Elephant spiking 168%. Pollack says fans are already using the platform to make the game part of their identity, and this new deal aims to give them more tools to do it. Brand beyond the court The New York Liberty are not only out to a winning record on the court early in this WNBA season, the club has signed 19 new brand partners. Three years ago, CEO Keia Clarke was in a strategy meeting. The teams head of sponsorship asked everyone to go around the room and tell everyone what brands and platforms everyone was using most. And I said Pinterest! says Clarke. So this one is particularly personal. The WNBA overall has excelled at bringing in corporate sponsors like Bumble, Glossier, and over-the-counter contraception brand Opill, beyond the NBAs usual brand suspects. Here, the Liberty are making a similarly bespoke brand move. From the teams perspective, its been building a cultural connection with its fans for years, a bond perhaps most consistently expressed through its marketing gold mascot Ellie the Elephant. But Clarke sees the Pinterest partnership as yet another way to strengthen those bonds far beyond the court. Whether you’re in the arena at a game or watching on television from home, or youre on Pinterest or at a community event, we want to always have that touch point with our fans that feels authentic and real, but it feels continuous, says Clarke. So this partnership in particular, its about looking at the search data, and figuring out how we can provide more moments for people to showcase their pride in our team, and showcase who they are as fans. Those are the moments for us that create generational longevity. That’s how you create real fandom that never goes away.
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E-Commerce
Ive spent the last 24 years as a charity auctioneer on stages around the world selling anything and everything to potential bidders. From Robinhood to Goldman Sachs, the biggest names in business and philanthropy entrust me to win over audiences and secure the sale. When I give talks about selling, I always kick things off with one simple question: Whats the most important part of sales? The answers I get are all over the place and sometimes hilarious: persuasion, charm, bringing good snacks . . . but few people get it right. The most important part of sales is listening. This fact is just as true when youre pitching investors as it is when youre closing a deal. If you want investors to take you seriously, your pitch cant be a one-size-fits-all presentation. It has to be tailored to their interests and needs. Your goal should be to meet your audience where they are, not where you are. Here are three surefire ways to make sure you stand out the next time youre pitching a crowd. 1. Know your audience Before you craft a single bullet point on your deck, ask yourself: Who am I pitching to? What do they invest in? What gets them excited? What have they backed in the past? If your business doesnt immediately fit into their portfolio, find a commonality to draw them in. Help them draw the line from what they know to what youre offering. Show them how your vision connects to their world, even if it takes a little creativity. As a charity auctioneer, Im often handed a sheet of paper with 10 lines about a trip or an item being auctioned off, then am told to get on stage and simply Raise a million dollars. I only loosely employ the notes Im given; I think of them as a reference point rather than the selling point. Because a powerful pitch isnt about reading a sheet of paper and regurgitating factsits about telling a story that taps into the audiences emotions. I find the pain point or the dream, and I make it personal. When youre pitching investors, do the same. Dont just sell your product. Sell the feeling. Sell the why. Tell the story. 2. Find common ground and lead with it In public speaking, I tell people to sell to the thing that unites you with the person across the table. Investors care about your margins, absolutely, but they need to connect with you and believe that you are the type of person they want to invest their time and energy in for the long term. Start your pitch with something that grounds everyone. I like to start with something simple like: Its late in the day. I know youre tired, but I want you to know Im going to bring the energy to keep you awake. That simple acknowledgment shows you are invested in making your time with them as engaging as possible. Then, personalize the pitch. If you looked at their website and saw nothing like your potential investment, address it head on instead of shying away from it: I saw that youve invested in sustainable materials and emerging markets. You might be wondering why youd invest in a platform for teachersbut heres the connection . . . Dont let your audience sit there wondering why theyre in the room. Tell them. Draw the bridge. Find the thread that links your vision to their interest. And if youre pitching something they might be inclined to dismisssay, a luxury product to a tech investorbe ready to pivot. During auctions, I am constantly coming up with different ways that someone might use the item Im selling. A few weeks ago, a nonprofit was delighted to tell me they had secured a ski house in Aspen for their charity auction gala. While they were excited, I thought about it differently. Not everyone likes to ski, nor do they want to visit somewhere in the cold weather. I immediately asked them Can the house be used in the summer too? The broader the appeal, the stronger your pitch. Dont get shut down before you even begin. The more ways you can encourage someone to view what you are selling, the better chance you will have of selling it. 3. Do the work before you get in the room The best place to hear a tough question? In the comfort of your living room. When you are preparing for a big presentation, practice until it looks like you are a natural. You only get one chance to make a first impression, so make it count. Rehearse the pitch with people who dont know your business inside and out. Their questions will expose assumptions you didnt know you were making, and help you refine your message so it lands with confidence. Practice in front of friends, family, former colleagues, or anyone willing to poke holes in your presentation. The harder the questions, the better. You want to know your blind spots before you get in the room with an investor.
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E-Commerce
Most of us Americans have firsthand experience with the broken state of the U.S. prescription drug market. In March, our son said his ADHD medication wasnt working anymore. We set up an appointment with his pediatrician, which is when the Kafka-esque insurance wrangling began. The doctor prescribed a medication listed on our insurers published formulary (the list of prescription drugs, whether brand name or generic, covered by its policies). The insurer denied the prescription, then denied the prior authorization our pediatrician submitted. Then we learned the published formulary was incorrect. We got a copy of the correct formulary and tried again. We had to call around to find a pharmacy that had the new drug in the generic form (since the name brand isnt covered), only to have the prescription denied again. Rx Frustration Redux The insurer told our doctor that a prior authorization was required, even though this medication is on the preferred formulary, so the pediatrician dutifully submitted that paperwork. Several days later, this prior authorization was also denied. The pediatricians nurse practitioner called the insurer, threw a bit of a fit, and got the insurance company to follow its own rules. I picked up the medicine that same day. But despite the drug being listed in the formulary as costing $21 with insurance, I was charged $215because our son has not yet met his $3,300 annual deductible. The cherry on top of this sundae of frustration is that the new medication doesnt seem to be working as hopedso were going to have to go through all this again with another drug. I know our situation is far from unique. But how did we get here? Why do insurance companies have so much power over our prescription drug choices and costs? And considering Trumps May 12th executive order to lower prescription drugs costs, is it possible that there may be some relief on the horizon? Heres what contributes to the dystopia that is American prescription drug prices, and what we can expect from the current administrations plans to improve the situation. Why do prescription drugs cost us so dang much? The press conference where Trump announced the executive order to lower prescription drug costs was plagued by his usual word saladwith a side of weird fat-shaming. But the verbal weaver-in-chief did at least make one valid point: Americans pay a lot more for the same drugs compared to citizens of other countries. There are a number of potential reasons for this cost disparity, none of which are within an individual consumers control: Research and development Pharmaceutical companies like to point to the high cost of research and development as the main driving force behind the high cost of prescription drugs in America. And to be fair to Eli Lilly et al. (which is not a phrase that I often type), the pharmaceutical industry spent $83 billion on R&D in 2019 alone, which is more than 10 times the amount spent per year in the 1980s, adjusted for inflation. But even with that staggering cost of R&D, thats not the reason Americans are rationing their lifesaving medicine. The Journal of the American Medical Association found in 2022 that there is no connection between the amount of money a drug company spends on developing a medication and the price of that medication. Profit motives Though the top executives will deny this until theyre blue in the face, its hard to ignore the fact that pharmaceutical companies make billions of dollars per yearand can even measure their profits in hundreds of dollars per second. Drug companies can set their own prices for medically necessary drugs, and they are abetted by an opaque, inconsistent, and bureaucratic employer-sponsored insurance system. This allows big pharma to (allegedly) determine drug prices based on profit motive rather than health outcomes. Direct-to-consumer advertising In 1997, the FDA relaxed the rules for pharmaceutical broadcast advertising, making it possible to advertise prescription medications directly to consumers on TV and radio. Drug companies embraced the opportunity wholeheartedly, spending about $1.3 billion on direct-to-consumer (DTC) ads in 1997, and that number soared to $8.1 billion in 2022. Pharmaceutical companies claim that DTC advertising helps inform consumers about health conditions and medical treatments. Im old enough to remember when direct-to-consumer prescription drug commercials first appeared. The ads seemed dubious to teenage me, since every commercial spot convinced me I needed Claritin, despite having no seasonal allergies. Many consumer advocates and medical professionals worry that consumers are similarly influenced to request unnecessary medication, which increases the cost of care. Those increased costs appear to be the rationale behind the huge investment pharmaceutical companies put into DTC ads. The industry wouldnt shell out more than $8 billion per year for the altruistic goal of keeping patients well-informed. Its a for-profit industry, after all. Pharmacy benefit managers Pharmacy benefit manager (PBM) is the health industry role youve never heard of thats behind the rage-inducing price of your blood pressure medicine. The PBM is a third-party contractor that negotiates drug prices between the pharmaceutical company, the insurer, and the pharmacy. Its the PBM that created the formulary we consulted while trying to get my sons prescription (and it was probably the PBM that failed to update the formulary, which added three weeks to our hyperactive goose chase). Additionally, the PBM decides which medications are preferred, which are not covered, and how much patients will pay for them before and after meeting the deductible. On the other side of the equation, the PBM negotiates discounts or rebates for the insurance companies from the drug manufacturers and determines how much the pharmacies will get paid by the insurers. Unfortunately, the PBM can keep a portion of the discount or rebate they negotiate, as well as some of the money they receive from the insurer for the pharmacyand none of their fees or incentives are transparent. These go-betweens are incentivized to increase prices for everyone to line their own pockets and their involvement is not a line item in your drug price. Insurer cost sharing Big Pharma doesnt carry all of the blame for high drug costs. Insurance is also a usual suspect. Many insurance companies have shifted more of their costs onto patients in recent years via higher premiums, copays, and deductibles. In our case, all three of those insurance costs have gone up in the past few years. Meaning we will be paying over $200 for our sons monthly medication unless he reaches his $3,300 annual deductibleHa Shem forbid. Trump to the rescue . . .? Like a broken clock occasionally telling time, our fearful leader has bumbled into identifying a real problem. Americans are spending way too much money on prescription drugs and its easy to see that citizens of other countries dont have this issue. So what exactly does the May 12th executive order say, and will it bring relief to patients who just want reasonable drug prices? Whats in the executive order The specific plan outlined in the so-called Delivering Most-Favored Nation Prescription Drug Pricing to American Patients executive order is classic Trump, overpromising a bright and beautiful improvement with an unclear method of execution. The order directs the Department of Health and Human Services, led by Robert F. Kennedy, Jr., to negotiate with pharmaceutical manufacturers to set lower drug prices by mid-June. If that doesnt happen, Secretary Bear Carcass will create a new rule tying U.S. drug prices to prices paid by patients in other countries. And thats it. Thats all the executive has ordered. Prices arent going down anytime soon Unfortunately, other than threatening to take the CEOs of Merck, Pfizer, and Johnson & Johnson to RFK Jrs favorite swimming hole, theres not much Trump can do to get the pharma companies to agree to lower prices. As of right now, the administration seems to mainly be asking the drug manufacturers to pretty please lower their prices. Im not holding my breath. (Well, except around certain cabinet members.) Complex, infuriating, and ubiquitous Theres no bright side to the dystopian reality were living in, where a pencil-pusher in another state gets to decide on my kids medical care and Im still coughing up a couple of Benjamins every month for medicine that doesnt work. And even when our leaders correctly identify this as a problem, they dont have real solutions, because the issue is so big, entrenched, and difficult to solve. That doesnt mean theres no hope for us little folk. Whether its your kids nurse practitioner giving your insurance company a piece of her mind, your pharmacist finding you money-saving coupons, your doctor calling colleagues to get you as many samples as possible, or just a fellow patient listening sympathetically, the American healthcare system is still full of compassionate people supporting each other through this crap.
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E-Commerce
Every other day, someone rolls out a confident take: Gen Z isnt really all that different. Give them a few years, they say, and theyll fall in line like every generation before them. Its a comforting storyespecially for those who built the system they expect Gen Z to fit into. But after years of teaching Gen Z, studying their values, and listening to what they need from work and leadership, I can say with certainty: Its not that simple. And pretending it is might be the biggest leadership blind spot of our time. Gen Z didnt grow up in the same world their managers did. Every generation faces unique strugglesbut those struggles shape different expectations, different instincts, and different realities. For Gen Z, those realities include climate anxiety, political polarization, mass shootings, pandemic isolation, and economic instability. They watched institutions crumble in real time. Their parents raised them in a world with constantly changing rules, a workplace that doesnt always reward loyalty, and an environment that makes it seem like success involves passing the stress test. What Gen Z actually wants When Gen Z employees walk into a workplace, theyre not trying to conform. Theyre looking for clarity. Theyre looking for fairness. And theyre looking for leaders who make sense. I surveyed 175 Gen Z college students, ages 18 to 21, and asked them: What leadership traits do you most value in a boss? What helps you feel engaged at work? The answers werent radical. They were grounded, human, and refreshingly reasonable. Here are the top 10. 1. Organization: Clear expectations and structured leadership 2. Respect: Fair treatment and valuing individual input 3. Communication: Honest feedback and transparency 4. Positive Attitude: Supportive, motivating tone 5. Approachability: Leaders who feel safe to talk to 6. Flexibility: Some autonomy in how and when work is done 7. Fair Pay: Transparent and equitable compensation 8. Responsibility: Leaders who take accountability 9. Trust: Confidence in leadership decision-making 10. Acknowledgment: Recognition for effort and contribution What struck me was not how surprising the results were but how basic they were. Gen Z isnt demanding perfection. Theyre asking for what most generations have wantedbut theyre less willing to tolerate its absence. They arent disengaged. Theyre discerning. The importance of empathy That distinction matters. In my conversations with executives, I often hear frustration: They dont want to pay their dues. They push back too much. They ghost interviews. But when I talk to Gen Z, what I hear is something different: I want to understand the why. I need a boss I can actually talk to. If I feel invisible, Ill leave. Gen Z isnt fragile. Theyre focused. Theyre not afraid of hard workthey’re just not willing to do it in a place that treats them like a cog with a college degree. They want work environments that align with their values: fairness, flexibility, and the radical notion that people deserve to be treated like people. And if they dont find it, they move on. Not out of entitlement, but out of self-preservation. Because theyve learnedsometimes the hard waythat no job is worth your dignity. And they dont see burnout as a badge of honor. Thats where empathy comes in. Not the curated kind, where a company posts a mindfulness webinar at noon and sends passive-aggressive emails at five. Im talking about real, grounded empathythe kind that shows up in how leaders communicate, take responsibility, and follow through. Its not about being soft. Its about being steady. And its the difference between a boss who manages tasks and a leader who earns trust. I call it engaged empathy: leadership that listens, adapts, and holds firm when it matters but never forgets its leading people. Its not about coddling or over-accommodating. Its about removing the guesswork from work and building trustday by day, word by word. Somewhere along the way, leadership got tangled in bravado. But Gen Z doesnt respond to that. They want and respond to consistency, communication, and yes, kindness. The best leaders Ive observed dont perform strengththey embody steadiness. A generation forging their own path Theres something Ive been thinking about a lot lately: Gen Z isnt waiting to be moldedtheyre choosing whats worth shaping themselves around. And thats not a sign of weaknessits a sign of agency. Its easy to compare them to how we were at 22, to say Theyll figure it out, and move on. But the truth is, theyve come of age in a different world. Of course, they see things differently. Thats not a threat to traditionits an invitation to evolve. When the workplace grows to meet its clarity, we all benefit. Burnout goes down. Retention goes up. Cultures become more thoughtful and more human. Leadership becomes something people want to follownot something they endure. Wouldnt that result in a better workplace for us all? So no, theyre not like you were at 22. And thats more than okay. In fact, that might be exactly what the workplace has been waiting for.
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E-Commerce