Stocks are likely to move to the upside in early trading on Monday, adding to the strong gains posted last Friday. The major index futures are currently pointing to a sharply higher open for the markets, with the S&P 500 futures up by 1.4 percent.
Technology stocks are likely to lead the way higher 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.”
After showing a lack of direction early in the session, stocks moved sharply higher over the course of the trading day on Friday. The major averages all showed strong moves to the upside, partly offsetting the substantial pullback seen during Thursday’s session.
The major averages moved roughly sideways going into the close, hovering firmly in positive territory. The Nasdaq shot up 337.14 points or 2.1 percent to 16,724.46, the S&P 500 surged 95.31 points or 1.8 percent to 5.363.36 and the Dow jumped 619.05 points or 1.6 percent to 40,212.71.
Largely reflecting the historic rally on Wednesday, the major averages also posted strong gains for the week. The Nasdaq skyrocketed by 7.3 percent, while the S&P and the Dow spiked by 5.7 percent and 5.0 percent, respectively.
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 have also shown significant moves to the upside on the day. While the German DAX Index is up by 2.5 percent, the French CAC 40 Index is up by 2.1 percent and the U.K.’s FTSE 100 Index is up by 1.7 percent.
In commodities trading, crude oil futures are jumping $0.95 to $62.45 a barrel after surging $1.43 to $61.50 a barrel last Friday. Meanwhile, after soaring $67.10 to $3,244.60 an ounce in the previous session, gold futures are falling $10.40 to $3,234.20 an ounce.
On the currency front, the U.S. dollar is trading at 143.28 yen versus the 143.54 yen it fetched at the close of New York trading on Friday. Against the euro, the dollar is trading at $1.1370 compared to last Friday’s $1.1356.
Business News
U.S. Stocks Likely To See Initial Strength On Tech Tariff Exemptions
2025-04-14 12:51:34
