Stocks rose on Monday as major technology names outperformed to start the week, while traders shrugged off President Donald Trump's latest U.S. tariff threats.
The Dow Jones Industrial Average was trading about 167 points higher, or nearly 0.4%, led by a roughly 4% gain in McDonald's.
The S&P 500 was up 0.67%, and the Nasdaq Composite was up about 0.98%.
Markets remained jittery on a mix of inflation concerns coupled with worries about how Trump's tariff plans could hurt the U.S. economy.
Trump told reporters Sunday that he plans to announce a blanket tariff of 25% on all steel and aluminum imports on Monday. Trump did not say when the tariffs would go into effect and noted that he would also issue retaliatory tariffs on countries that tax U.S. imports. The news comes after Trump announced tariffs on China.
Steel and aluminum stocks jumped. U.S. Steel
and Nucor
rose more than 3.5% and 5.5%, respectively. Cleveland-Cliffs
rose more than 17%, and Alcoa
traded 3% higher.
Chipmakers also traded higher as sentiment appeared to improve after a selloff in tech stocks in late January, sparked by concerns about the rise of Chinese AI startup DeepSeek. Nvidia
rose 3.5%, while Broadcom
and Micron
rose 4.5% and about 4%, respectively. Large-cap tech names Alphabet
, Amazon
and Microsoft
also rose.
"Volatility around DeepSeek and tariff concerns have not derailed our positive view on risk assets, particularly in the U.S. In the short term, we expect continued volatility on tariff headlines and potential passage of the April bill in the U.S., but we maintain 6,500 as our year-end target for the S&P 500," JPMorgan's head of cross-asset strategy Fabio Bassi said in a note to clients.
The threat of further tariffs comes ahead of a slew of economic data this week. The January consumer price index report is due out at 8:30 a.m. ET Wednesday, followed by initial weekly jobless claims and the producer price index on Thursday. Federal Reserve Chairman Jerome Powell will also address Congress on Tuesday morning. (Newsmaker23)
Source: CNBC
The STOXX 50 gained 0.4% and the STOXX 600 rose 0.3% on Friday, as investors closely monitored corporate earnings and news, while staying on edge for any signs of progress in trade negotiations betwee...
Australian equities notched a record high as Asia-Pacific markets tracked Wall Street gains on the back of strong U.S. economic data reports and a slew of better-than-expected corporate earnings. Aus...
US stocks advanced on Thursday, supported by upbeat earnings and solid economic data as markets brushed aside lingering concerns over President Trump's criticism of the Fed and renewed tariff threats....
S&P 500 and Nasdaq 100 futures edged up 0.1% and 0.2%, respectively, on Thursday morning (July 17), while the Dow Jones Industrial Average remained flat. What caused this? Investors were digesting...
The STOXX 50 rose 0.9% and the STOXX 600 gained 0.6% on Thursday, marking their first advances in six and five consecutive sessions, respectively, as investor attention shifted to corporate earnings. ...
The US dollar (USD) weakened on Friday (July 18th), retreating from a three-week high as momentum waned. However, the greenback remained supported by strong US economic data released this week, which has reduced the likelihood of an immediate...
Oil prices edged higher on Friday (July 18th), heading for a slight weekly loss, as investors weighed new EU sanctions against Russia. Brent crude futures rose 50 cents, or 0.72%, to $70.02 a barrel at 09:12 GMT, while U.S. West Texas Intermediate...
Gold prices rose on Friday (July 18th), but were on track for a weekly decline as concerns about the US Federal Reserve's independence eased and strong US data emerged, while platinum rose to a nearly 11-year high. Spot gold rose 0.3% to $3,349.49...
U.S. consumer prices increased by the most in five months in June amid higher costs for some goods, suggesting tariffs were starting to have an...
European stocks erased early gains and closed mostly lower on Tuesday as markets continued to assess how potential tariffs from the US may hurt...
The U.S. central bank will probably need to leave interest rates where they are for a while longer to ensure inflation stays low in the face of...
President Donald Trump's renewed calls for Federal Reserve Chair Jerome Powell's resignation have prompted investors to protect portfolios against...