US stocks were higher on Monday as markets reconsidered concerns around uncertain trade policy passed by the Trump Presidential administration.
The S&P 500 and the Nasdaq gained over 1% each and the Dow was 350 points higher. The White House paused the aggressive tariffs on computers and electronics from their reciprocal tariff package, including those on China, but Trump clarified that the temporary relief was only announced because sector-specific tariffs on computers and semiconductors will be placed shortly after.
The moves extended the constantly-changing trade policy that has triggered selloffs across equities, Treasuries, and the dollar this month, but hopes that levies on Chinese electronics may be softer than feared supported companies with supply chains that depend on the world's largest manufacturer. Apple surged 7%, while Tesla and Nvidia added 3%. On the earnings front, Goldman Sachs jumped 2.5% after the firm delivered strong results.
Source: Trading Economics
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