Stocks in the US kicked off the week in the green, with the S&P 500 adding 1%, the Nasdaq soaring 1.5% and the Dow Jones gaining 350 points, as traders hope the new US tariffs set to take effect on April 2nd could be softer and more targeted than initially anticipated. Reports emerged that President Donald Trump's coming wave of tariffs is poised to be more targeted than the barrage he has occasionally threatened. All sectors were in the green, but consumer discretionary, tech and communication services outperformed.
Shares of Tesla soared more than 5% and other megacaps were also higher, including Apple (0.4%), Microsoft (0.5%), Nvidia (2.3%), Amazon (2.3%), Meta (3.5%) and Alphabet (1.4%).
On the data front, flash PMIs pointed to a surprisingly strong growth in the services sector and an unexpectedly decline in manufacturing, alongside a sharp rise in input prices due to the impact of tariffs.
Source: Trading Economics
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