Stock Market Update

[BRIEFING.COM] The major averages moves sharply beneath their flat lines following a lengthy post by President Trump on Truth Social in which the president stated that China is becoming very hostile, and threated a massive tariff increase to Chinese products coming into the U.S.

Investors received a small batch of earnings reports yesterday afternoon and this morning, with some of the more notable names garnering mixed reactions. 

Applied Digital (APLD 36.25, +6.96, +23.76%) is soaring to new highs today after reporting its Q1 (Aug) results last night. The AI data center infrastructure developer handily beat expectations on both the top and bottom lines, with revenue rocketing 84.3% year-over-year (68% sequentially) to $64.21 million.

The stock continues to build on its impressive run from its April low, up over 1000%, as the bullish commentary from management seems to have satisfied high growth expectations.

Meanwhile, Levi Strauss (LEVI 21.70, -2.84, -11.59%) is trading sharply lower despite delivering strong Q3 (Aug) results, as investor optimism ahead of the report gave way to disappointment over downside Q4 (Nov) EPS guidance, despite beating EPS expectations by $0.03 and beating revenue expectations.