11:34 AM EDT, 07/02/2025 (MT Newswires) -- The S&P 500 and the Nasdaq Composite were up in late-morning trading Wednesday, while the Dow Jones Industrial Average was down slightly after President Donald Trump announced on Truth Social that he has struck a trade deal with Vietnam.

President Trump said Wednesday morning on Truth Social that the US and Vietnam have reached an agreement under which Vietnam will pay a 20% tariff on all exports sent to the US and a 40% tariff on transshipment. The US will have total access to Vietnamese markets, "meaning that, we will be able to sell our product into Vietnam at ZERO tariff," Trump said.

Tesla (TSLA) said Wednesday it delivered 384,122 vehicles in Q2, down 13.5% from the year-ago period. The electric-vehicle maker said it produced 410,244 automobiles in Q2, down 0.1% from a year earlier. Tesla shares were up 4.9% around midday.

Microsoft ( MSFT ) commenced a second wave of layoffs that will impact 9,000 workers, or less than 4% of the company's total workforce, Bloomberg reported Wednesday, citing a company spokesperson. Multiple teams, geographies and tenures will be impacted by the job cuts, the spokesperson reportedly said. Microsoft ( MSFT ) shares were flat.

Centene ( CNC ) said late Tuesday it is withdrawing its previously reiterated full-year 2025 adjusted earnings outlook of more than $7.25 after an analysis of market data. Market growth in 22 of Centene's ( CNC ) 29 marketplace states is below expectations, implying an adjusted diluted EPS impact of about $2.75, according to the analysis. Centene ( CNC ) shares were down 38.3%.

Intel ( INTC ) is weighing whether to halt marketing of its 18A chipmaking technology to external customers as part of a broader strategy shift under new Chief Executive Lip-Bu Tan, Reuters reported late Tuesday, citing people familiar with the matter. Intel ( INTC ) may focus its resources on its next-generation 14A chipmaking process, which it believes will provide a competitive edge over rival Taiwan Semiconductor Manufacturing (TSM), the report said. Intel ( INTC ) shares were down 3.0%.

Paramount Global ( PARAA ) has agreed to pay $16 million to settle a lawsuit filed by President Donald Trump against Paramount unit CBS, alleging the network edited a "60 Minutes" interview with then-Vice President Kamala Harris to enhance her image, multiple news outlets reported Wednesday. Paramount shares were down 1.0%.

British scientific instruments maker Spectris said Wednesday it has accepted KKR's (KKR) offer to takeover the company for 4.7 billion pounds ($6.44 billion). KKR shares were up 0.9%.

Netflix ( NFLX ) and Spotify ( SPOT ) have held talks about collaborating on a number of projects, including a music awards show and a live concert series, The Wall Street Journal reported Wednesday, citing people close to the conversations. Netflix ( NFLX ) shares were down 1.3%, while those of Spotify ( SPOT ) were down 0.7%.

Stellantis ( STLA ) said (STLA) its Q2 US sales fell 10% from a year ago to 308,973 vehicles. Stellantis ( STLA ) shares were up 0.4%.

Price: 313.95, Change: +13.24, Percent Change: +4.40