As tech companies got off to a strong start to the week thanks to President Donald Trump’s unexpected exemption from U.S. tariffs, stock futures increased Monday.
The Dow Jones Industrial Average-linked futures increased 474 points, one-two percent. Futures on the Nasdaq-100 increased 2.1%, while futures on the S&P 500 increased 1.6%.
U.S. Customs and Border Protection released updated instructions late Friday that exempted laptops, smartphones, and other equipment and components, such as semiconductors, from Trump’s new “reciprocal” tariffs.
Nvidia’s stock increased by more than 3% in the premarket, while Apple’s shares surged by more than 5%. Before the bell rang, the Technology Select Sector SPDR Fund (XLK) increased by over 2%.
Source (CNBC)
