Amgen stock, Best Buy stocks, JM Smucker stocks, and others are among the top-moving stocks.

What you need to know

• U.S. equity markets were mixed in the midday session following remarks from Donald Trump on new tariffs for Chinese, Canadian, Mexican, and other imports.
• Results from a study of Amgen's experimental weight-loss treatment came in below expectations, sending shares sinking.
• J.M. Smucker increased its guidance due to its strong packaged and frozen products sales.

U.S. equity markets were mixed by midday on Monday as investors weighed up the possible impact of Donald Trump’s proposal to raise tariffs for imports coming from China and add new ones against Canadian and Mexican products. The Dow Jones Industrial Average fell, while the S&P 500 and Nasdaq rose.

Amgen (AMGN) was the worst-performing stock in the Dow and S&P 500 after the biotech reported results from a study of its experimental weight-loss drug that came in below expectations.

Best Buy’s (BBY), shares fell after the retailer failed to meet its profit and revenue targets and lowered their outlook. They blamed macroeconomic concerns, the waiting period for customers, and the upcoming presidential elections.

Constellation Brands shares (STZ), the leading beer brand in America, fell after the possibility of tariffs being imposed on Mexico raised the potential price for its Modelo beer. 

J.M. Smucker shares (SJM), which make jellies, other foods and packaged products, jumped after the company raised its forecasts on increased demand for their frozen and packaged food.

Shares of Eli Lilly (LLY) and American depositary receipts (ADRs) of Novo Nordisk (NVO) advanced when the White House proposed new rules for Medicare and Medicaid that would expand coverage for weight-loss treatments. 

Walmart shares (WMT) rose following a news report that stated customers of Target were dissatisfied with Target’s lack of stock, long lines and locked-up merchandise. Target shares fell.

Futures for oil and gold rose. The 10-year Treasury yield was not much different. The U.S. currency gained against the euro, pound and yen but lost out to them. Bitcoin increased 1%, to $94,000.

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