Stocks finished higher on Monday after spending most of the session flipping between gains and losses. Unexpected tariff exemptions from President Trump boosted investor sentiment, with Big Tech enjoying a rally. Trump noted semiconductors, computers, and smartphones are among the products exempted from China's reciprocal tariffs, providing Apple (AAPL), Dell Technologies (DELL), and other tech giants that rely on the country's manufacturing some relief. In response, the Dow and Nasdaq added triple digits, while the Cboe Volatility Index (VIX) extended Friday's losses.
Continue reading for more on today's market, including:
- Quarterly beat boosts banking stock.
- 2 tech stocks surging on updated tariffs.
- Plus, semiconductor stocks to watch; biotech stock soaring; and bulls shouldn't miss this.
5 Things to Know Today
- El Salvadoran President Nayib Bukele said he had no plans to return an American citizen that was mistakenly deported by the Trump Administration back to the U.S. (Bloomberg)
- Nvidia (NVDA) announced plans to move all production of its "NVIDIA AI" super computers to the U.S., with than $500 billion worth of products to be made in the next four years. (CNBC)
- Semiconductor stocks surging on tariff buzz.
- Biotech stock swarmed with call traders.
- Options bulls: Watch 3 S&P 500 areas.
Gold Pulls Back From Fresh Record
Oil prices inched higher after the Organization of the Petroleum Exporting Countries (OPEC) downwardly revised its demand growth output for the year. May-dated West Texas Intermediate (WTI) crude rose 12 cents to finish at $64.88 per barrel.
Gold pulled back from its earlier record peak, as sentiment eased regarding global trade war tensions. June-dated gold was last seen 0.6% lower at $3,226.30 an ounce for the session.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
