Stocks Bounce Back After President Trump Calls Off Mexican Tariffs Plus, Analog Devices jumps on a Goldman Sachs upgrade.

By Andrew Osterland

Opinions expressed by Entrepreneur contributors are their own.

ventdusud | Getty Images

The stock market may be warming up to the President's unconventional trade policies.

Stocks tanked after President Trump threatened Mexico with a five percent tariff on all exports to the U.S. a couple of weeks ago. They have bounced back considerably since the President called it off last Friday and claimed victory with a deal to control illegal migrants at the southern border. Today, the President said he would slap further tariffs on China if it didn't attend the G-20 Summit meeting in Japan at the end of the month. Growing numbers of corporate leaders are expressing concern, but investors appear willing to bet on the "tariff man" for now.

Stock prices were well off their mid-day highs but the indexes all had gains today. The Dow and S&P 500 indexes were up 0.3 percent and 0.47 percent respectively and the Nasdaq Composite gained 1.05 percent. The Entrepreneur Indexâ„¢ closed the day up 0.93 percent.

Technology stocks were mixed. Three of the four FAANG stocks on the index were up with Netflix (-2.46 percent) the only one to decline on the day. Amazon gained 3.14 percent while Alphabet Inc. and Facebook were up 1.35 percent and 0.85 percent respectively.

Analog Devices had the biggest gain on the index today, jumping 5.82 percent after a Goldman Sachs analyst upgraded the stock from sell to buy. Fellow-chipmaker NVIDIA Corp. was also up 2.01 percent. Meanwhile, software-maker salesforce.com had the sharpest decline on the index, falling 5.26 percent after it announced a $15.3 billion deal to buy Seattle-based tech firm Tableau.

Tesla surged 4.1 percent after Roth Capital upgraded the stock from a neutral to a buy rating. It suggested vehicle deliveries in China could surprise to the up side based on May data. The stock has had a nearly twenty percent bounce in the last week after falling nearly fifty percent in the first five months. The shares are still down 36 percent on the year.

Related: Elon Musk Received the Highest CEO Compensation Package Ever, and 27 Other Crazy Things We've Learned About the SpaceX and Tesla CEO

Other good gains on the index included Fedex Corp. (2.42 percent) and Ralph Lauren Corp. (2.51 percent).

L Brands, makers of Victoria's Secret lingerie, had the second biggest decline on the index today, dropping 3.88 percent. The stock has been a rollercoaster for shareholders this year as optimism for change has alternated with dismay at ongoing loss of market share at Victoria's Secret. The shares are now down fifteen percent this year.

Other notable declines on the Entrepreneur Indexâ„¢ today were posted by J.M. Smucker Company (-1.52 percent) and Alexion Pharmaceuticals (-1.67 percent).

The Entrepreneur Indexâ„¢ collects the top 60 publicly traded companies founded and run by entrepreneurs. The entrepreneurial spirit is a valuable asset for any business, and this index recognizes its importance, no matter how much a company has grown. These inspirational businesses can be tracked in real time on Entrepreneur.com.

Andrew Osterland is a contributing writer for CNBC.com. He specializes in capital markets, personal finance and taxes.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Starting a Business

This 'Dream' Side Hustle Out-Earned Her Corporate Salary in 2 Years — Now It's a $2 Million Business

Here's the exact blueprint she used to leave her W2 job behind and step fully into entrepreneurship.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Business News

Deloitte Is Reimbursing Employees Up to $1,000 — For Buying Lego Sets

Each Deloitte employee can spend up to $1,000 on items to improve their well-being.

Starting a Business

The Next Chapter of Basketball? Why This New League Is Betting Big on 1v1 Hoops

The Next Chapter is a premier 1v1 league turning streetball culture into a marketable, competitive sport. With unique players and pay-per-view events, the league aims to become a billion-dollar basketball business.

Growing a Business

5 Steps to Negotiate Confidently With Tough Clients

Negotiation should never be a battle. Follow these steps to shift your mindset and negotiate with confidence.

Leadership

5 CEOs Sat Down for a Candid Conversation — What They Revealed Could Change Your Entire Perspective on Leadership

These five CEOs get brutally honest about leadership, pressure and letting go of control.