Stocks surged Monday as tech companies got a boost to start the week thanks to President Donald Trump’s unexpected reprieve from U.S. tariffs.
A 0.9% increase, or 370 points, was made in the Dow Jones Industrial Average. Around 1.2% and 1.5%, respectively, were gains made by the S&P 500 and the Nasdaq Composite.
New U.S. Customs and Border Protection guidance released late Friday states that Trump exempted computers, smartphones, and other gadgets and components, such as semiconductors, from his new “reciprocal” tariffs.
Following the news, Apple and Intel’s stock increased by almost 4%. Super Micro and Dell both saw increases of over 6%. XLK, the Technology Select Sector SPDR Fund, saw a 2% increase.
Source (CNBC)
