After moving sharply higher over the course of last Friday’s session, stocks fluctuated over the course of the trading day on Monday but managed to end the day mostly higher. The major averages all finished the day firmly positive, climbing further off the one-year lows hit last Tuesday.
The Dow jumped 312.08 points or 0.8 percent to 40,524.79, the Nasdaq rose 107.03 points or 0.6 percent to 16,831.48 and the S&P 500 climbed 42.61 points or 0.8 percent to 5,405.07.
The higher close on Wall Street came after U.S. Customs and Border Protection guidance issued late Friday revealed certain tech products will be excluded from President Donald Trump’s “reciprocal tariffs.”
The excluded products purportedly include smartphones and computers as well as other devices and components like semiconductors.
However, adding to the uncertainty surrounding tariffs, Trump claimed in a post on Truth Social that there was “no Tariff ‘exception’ announced,” noting the products are still subject to exiting 20 percent fentanyl tariffs are just moving to a “different Tariff ‘bucket.'”
“NOBODY is getting ‘off the hook’ for the unfair Trade Balances, and Non Monetary Tariff Barriers, that other Countries have used against us, especially not China which, by far, treats us the worst!” Trump said.
“We are taking a look at Semiconductors and the WHOLE ELECTRONICS SUPPLY CHAIN in the upcoming National Security Tariff Investigations,” he added. “What has been exposed is that we need to make products in the United States, and that we will not be held hostage by other Countries.”
Biotechnology stocks showed a substantial move to the upside on the day, resulting in a 2.5 percent surge by the NYSE Arca Biotechnology Index.
Considerable strength was also visible among commercial real estate stocks, as reflected by the 2.1 jump by the Dow Jones U.S. Commercial Real Estate Index.
Pharmaceutical, computer hardware and utilities stocks also saw significant strength, closing higher along with most of the major sectors.
In overseas trading stock markets across the Asia-Pacific region moved mostly higher during trading on Monday. Japan’s Nikkei 225 Index jumped by 1.2 percent, while Hong Kong’s Hang Seng Index surged by 2.4 percent.
The major European markets also showed significant moves to the upside on the day. While the German DAX Index spiked by 2.9 percent, the French CAC 40 Index shot up by 2.4 percent and the U.K.’s FTSE 100 Index jumped by 2.1 percent.
In the bond market, treasuries regained ground after moving sharply lower last week. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, tumbled by 12.9 basis points to 4.364 percent.
Business News
U.S. Stocks Fluctuate Before Closing Mostly Higher
2025-04-14 20:12:28
