The shares rose in a stormed session on Monday, supported by the increase in technological names after the United States from the Customs by the President Donald Trump.
Dow Jones Industrial Average added 312.08 points, or 0.78%, closing at 40,524.79. Nasdaq Composite rose 0.64% and ended at 16,831,48, while S & P 500 added 0.79% and settled at 5,405.97. All three indexes have occasionally traded in a negative area during a turbulent session.
The investors greeted Trump’s smartphones and computers, as well as other devices and components such as semiconductors, from his new “reciprocal” customs, and the new guidelines of American Customs and the border protection published late on Friday.
But Trump and the Howard Lutnick trade minister then suggested that the exemptions were not permanent, which caused more insecurities in tariffs. Trump in publication on Truth Social said that these products are still “susceptible to existing 20% tariffs on Fentanil and only move to another ‘bucket’.
However, Apple shares received 2.2% on the news, while Dell jumped almost 4%. SPD Fund for the selected technology sector (XLK) added almost 1%, seebiz transmits.
“The market believes that the administration is probably in a kind of withdrawal from its most extreme proposal of tariffs,” said Ellerbroek, a portfolio manager in Argent Capital Management. “It’s gradually good news.”
The CBOE (VIX) volatility index, known as the fear gauge on the Wall Street, fell for more than 6 points at the session on Monday. Yields of U.S. government bonds also retreated, giving an upward momentum for shares.
This development occurs at the moment when “magnificent seven” and the wider market found under pressure after the president’s announcement of the tariff earlier this month.
