Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning.

Thanks so much for joining us on this Tuesday, April 29th. I'm Julie Morgan.

Auto stocks climb on tariff buzz, octa shifts indexes, and Starbucks faces a test on tariffs and a turnaround.

President Trump will provide some relief for automakers.

An announcement is expected later today.

People familiar with the matter told the Wall Street Journal that this will include not

stacking on additional levies on foreign-made cars.

That means companies that pay the 25% tariff on on foreign-made cars. That means companies that pay the 25%

tariff on Finnish foreign-made cars won't be charged other levies, such as those on steel

and aluminum. Automakers would likely be reimbursed for any additional tariffs they've already

paid. The Trump administration will also amend the 25%

tariff on foreign auto parts to allow automakers to be reimbursed up to an amount equal to

3.75% of the value of a U.S. made car for one year. The reimbursement would then go down to 2.75% of the car's value the next year and later phased

out. Commerce Secretary Howard Lutnik said in a statement to media that this deal is a major

victory for the president's trade policy by rewarding companies who manufacture domestically

while providing runway to manufacturers who have

expressed their commitment to invest in America and expand their domestic manufacturing.

The tariff relief deal is expected to be announced today when Trump visits Michigan as he

marks his first 100 days in office. The industry had pushed back against tariffs on foreign

auto parts, warning that they would lead to higher prices for consumers and lower sales.

In early pre-market trade, GM is up 0.7%, Ford is up 1.1% and Stalantis is 3.1% in the green.

ACTA will replace Barry Global Group and the S&P Midcap 400 effective prior to the opening of trading on Thursday, May 1st.

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