- The EU lowered planned tariffs on China-made Tesla EVs from 20.8% to 9% after Tesla requested a recalculation based on its subsidies in China. The tariffs were initially proposed due to concerns over “unfair subsidies” for Chinese EV imports.
- Shares of Hawaiian Holdings jumped 11.2%, and Alaska Airlines gained 2.4% after their merger cleared the U.S. Justice Department. The $1.9 billion deal now awaits approval from the U.S. Transportation Department.
- Eli Lilly shares rose 1.7% after a late-stage trial showed that its weight-loss drug tirzepatide, found in Zepbound and Mounjaro, reduced the risk of Type 2 diabetes in obese or overweight adults by 94%.
