U.S. President Donald Trump unexpectedly announced a tariff exemption for smartphone and computer components, driving tech stocks to bolster the market on Monday, with the Nasdaq outrunning. The Nasdaq surged by up to 412 points or 2.4%, closing up 107 points or 0.6% at 16,831.
The S&P 500 rose 42 points or 0.8%, closing at 5,405, while the DJIA rallied 312 points or 0.8%, resting at 40,524.
Trump’s decision to exclude smartphones and other items from a 145% trade tariff on Chinese goods sent Apple (AAPL.US) shares higher by about 7% at one point, before settling with a gain of over 2%. Nvidia (NVDA.US) announced its first purchase of U.S.-made AI hardware, but its upswing loosened with the broader market, closing down 0.2%.
Meanwhile, Trump indicated he is considering exempting tariffs on imported cars and parts, boosting General Motors (GM.US) and Ford (F.US) by 3-4%, while European automaker Stellantis (STLA.US) jumped up over 5%.
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AAStocks Financial News
Web Site: www.aastocks.com
| SG Top Picks |
| Stock & Type |
Code |
Strike(Call Level) |
Last |
Effective Gearing |
| APPLE (C) |
10551 |
254 (-) |
0.033 |
11.4 X |
| APPLE (C) |
10614 |
236 (-) |
0.148 |
6.6 X |
| APPLE (P) |
10495 |
218 (-) |
0.420 |
4.9 X |
| Nvidia (C) |
10573 |
150 (-) |
0.084 |
5.1 X |
| Nvidia (C) |
10615 |
135 (-) |
0.162 |
4.0 X |
| Nvidia (P) |
10538 |
116 (-) |
0.295 |
2.9 X |
| Nvidia (P) |
10581 |
95 (-) |
0.191 |
2.7 X |
