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US stocks rebounded ahead of President Trump's tariff announcements, but stock futures fell after Trump surprised markets with larger than expected levies.

Shares of electric vehicle pioneer Tesla (NASDAQ:TSLA) jumped 5.6% in the afternoon session after Politico reported that Elon Musk may soon step down from his position at the Department of Government Efficiency, indicating a renewed focus on his business ventures, especially Tesla.

Elon Musk's past 24 hours have shown troubling signs for his political and personal fortunes.

Tesla stock fell after poor delivery data, but was getting a boost in midday trade after a report said Elon Musk is set to step back from his intensive role in the Trump administration.

Shares of Rivian fell despite the EV maker reporting first quarter data and a full-year outlook that aligned with its projections.

Edgewise Therapeutics shares tumbled more than 20% Wednesday after the developmental drug company issued the results of its latest clinical trial.

Shares of bank software company nCino (NASDAQ:NCNO) fell 34.3% in the pre-market session after the company reported weak fourth quarter 2024 (fiscal 2025) results as its revenue and EPS guidance for next year fell short of Wall Street's estimates. The quarter was underwhelming, with sales roughly in line with expectations, while earnings missed by a wide margin. The results revealed a continued struggle to turn a profit and manage cash burn, while the guidance suggested a sharp slowdown in growt

Shares of right-wing cable news outlet Newsmax have gained as much as 2,190% since its IPO debut on Monday.

DoorDash shares surged Wednesday after the delivery platform announced a new partnership with Domino's Pizza.

Bond giant PIMCO has privately lent nearly $6 billion to emerging market borrowers, mostly governments, this year alone, securing higher returns and better lender protections, its head of emerging markets portfolio management said on Wednesday. That is already nearing the roughly $8.5 billion PIMCO lent last year in 27 deals, Pramol Dhawan told Reuters, out of a total of around $25 billion it has provided in recent years. For emerging markets wary of being caught out by unfavourable changes in broader sentiment, private credit - which is also booming in developed economies - is seen as a more flexible but also less visible way to borrow.