Stocks rebound midday as tariffs on Mexico are delayed, General Motors and Tyson Foods react
cnbc.com — February 3, 2025, 08:00 PM UTC
U.S. stocks are recovering after the announcement that tariffs on Mexico will be delayed for one month. Initially, stocks fell due to new tariffs on Canada, Mexico, and China, affecting various sectors including automakers and consumer goods. General Motors shares fell 2.8%, while Tyson Foods rose 1.8% after reporting better-than-expected earnings. Triumph's stock surged 34% following news of its acquisition by Warburg Pincus and Berkshire Partners. IDEXX Laboratories saw an 11% increase in shares after exceeding revenue estimates. Conversely, Owens & Minor's stock dropped 28% due to disappointing preliminary results and a significant impairment charge.