The White House’s move comes after weeks of intense market volatility fueled by trade tensions. Investors welcomed the break, especially as the exemptions cover high-impact devices critical to the tech industry. However, Commerce Secretary Howard Lutnick warned the exemptions aren’t permanent, injecting a dose of caution into the market euphoria.
Stock Futures Movement
- Dow Futures: Up 388 points (+1%).
- S&P 500 Futures: Up 1.5%.
- Nasdaq-100 Futures: Up 1.7%.
Tech Stocks Boost
- Apple: Gained 5% in premarket trading.
- Nvidia: Rose 3% in premarket.
- Technology Select Sector SPDR Fund (XLK): Increased by 2%.
Tariff Exemption Details
- Exempted Products:
- Smartphones
- Computers
- Semiconductors
- Other tech devices and components
- Trump’s Clarification: Products are still subject to the existing 20% Fentanyl tariffs, just moved to a different tariff “bucket.”
Recent Market Volatility
- S&P 500: Dropped 5.4% since the announcement of reciprocal tariffs.
- Nasdaq Composite: Fell 5%.
- Dow Jones Industrial Average: Down 4.8%.
Premarket Stocks Making Moves
- Goldman Sachs:
- Gained nearly 2% after beating earnings estimates.
- Reported earnings of $14.12 per share vs. $12.35 expected.
- Revenue of $15.06 billion vs. $14.81 billion expected.
- Pfizer:
- Shares down slightly after halting development of weight loss pill due to liver injury reported in a trial.
- Apple:
- Up 5% following tariff exemption news on smartphones and tech products.
Market Trends
- CBOE Volatility Index (VIX): Spiked above 50 last week.
- Reciprocal Tariff Impact: Significant market uncertainty, despite temporary reprieve.
- Oil Prices: Influenced by uncertainty regarding tariffs and recession concerns.
Why are stock futures rising today?
Stock futures are showing a strong upward movement this Monday, with Dow futures climbing by 388 points, or 1%. S&P 500 futures have increased by 1.5%, and Nasdaq-100 futures are up 1.7%. This boost comes after a surprise move by President Donald Trump to temporarily exempt certain tech products from new tariffs.
Why did Trump ease off tariffs on tech devices?
According to Trump’s post on Truth Social, the exempted items still fall under the broader 20% fentanyl tariffs but are “just being moved to another bracket.” The administration appears to be walking a fine line—soothing Wall Street without fully backing down on its aggressive trade stance.
Analysts believe this decision may be aimed at stabilizing domestic markets while negotiating from a position of strength with trade partners, especially amid reports of Chinese export surges. However, with the exemptions described as “temporary,” uncertainty still hangs over global trade.
How did the tariff exemption impact tech stocks?
Tech stocks saw a significant lift following Trump’s tariff exemption announcement. Apple shares surged by over 5% in the premarket, while Nvidia gained more than 3%. The Technology Select Sector SPDR Fund (XLK) also rose by over 2%. The exemption includes products like smartphones, computers, and semiconductors, which are major components in tech supply chains. These exemptions brought relief to tech companies that had been under pressure due to the president’s previous tariff announcements.
How are major stocks performing premarket?
Before the opening bell, several stocks were making headlines due to significant news developments:
- Goldman Sachs: The investment bank gained nearly 2% after reporting strong first-quarter earnings, beating analysts’ expectations. Goldman Sachs posted earnings of $14.12 per share, significantly above the anticipated $12.35, with revenue of $15.06 billion surpassing the expected $14.81 billion.
- Pfizer: Pfizer shares were down slightly after the company announced it would halt development of its daily weight loss pill due to a liver injury reported during a trial. This news caused some market hesitation for the pharmaceutical giant.
- Apple: Apple saw a substantial premarket gain of over 5%, following Trump’s tariff exemption announcement for smartphones and other tech products, which helped ease concerns about the impact of tariffs on the company’s bottom line.
How are global markets reacting to this unexpected policy twist?
Asian markets immediately responded with gains. Japan’s Nikkei 225 jumped 1.18%, and South Korea’s KOSPI rose by 2%. Meanwhile, European stocks also opened higher, with the FTSE 100 up 2%, Germany’s DAX gaining 2.5%, and France’s CAC 40 climbing over 2%.
The rally wasn’t limited to equities—Logitech led a charge in software stocks, soaring nearly 9% in London, and Convatec followed closely. Even European manufacturing and pharma stocks posted solid gains as the news of tariff delays spread.
What’s happening with oil, gold, and bond yields today?
Gold, which had hit record highs last week due to escalating trade tensions, saw mild profit booking as investors rotated back into risk assets. Meanwhile, crude prices edged slightly higher but faced downward pressure after Goldman Sachs slashed its oil forecasts. The bank now expects Brent to fall to $63 per barrel by year-end due to rising supplies and recession fears.
In the bond market, the US 10-year Treasury yield fell to 4.43% after climbing to 4.55% on Friday. The drop reflects a cooling of market panic as investors digest the White House’s partial trade rollback.
Which stocks are making the biggest moves today?
Tech and pharma stocks are leading gains across global markets. In the US pre-market, shares of Novo Nordisk jumped 4.5% after Pfizer scrapped development of its weight loss pill following a patient’s liver injury. Pfizer’s retreat boosted optimism around Novo Nordisk’s GLP-1 drug pipeline.
Logitech surged as tariff relief boosted confidence in the consumer tech sector. Meanwhile, European firms like GN Group, Technip Energies, and Vallourec all posted strong intraday gains between 4–6%.
How are companies reacting to the shifting tariff landscape?
Businesses across the globe are scrambling to adapt. Audi has suspended US imports, while Portugal’s biggest wine exporter, Sogrape, is pulling from emergency stockpiles. Novartis AG just committed $23 billion to expand US operations over the next five years—a sign that firms are hedging bets by investing directly in America.
Some automakers like Stellantis NV are even rolling out customer discounts to stimulate demand amid tariff uncertainty. And in Europe, companies are racing to secure supply chains and shift production to avoid further disruptions.
FAQs:
US stock market futures are rising today, with major indices like Dow Jones, S&P 500, and Nasdaq set to see gains, especially in tech stocks like Apple and Nvidia.
Tech stocks like Apple and Nvidia are seeing a boost as President Trump exempts certain devices from tariffs, making them a key driver in today’s market rally.
