Apple shares rose strongly on Monday, compared with tepid trading in the broader market.
The company was buoyed by President Trump’s comments that tariffs would be exempted on certain electronics products.
Trump’s tariff policies have sparked wild stock market swings in recent weeks.
Amid the ongoing tariff chaos, beleaguered Apple investors suddenly got a reprieve.
The stock surged more than 7% in early trading Monday before closing up about 2%, while other stocks erased all of their gains.
Driving the gains was the Trump administration’s announcement that it would exempt key tech products from steep tariffs imposed on China. Electronics exempted from tariffs include chipmaking equipment, computers and smartphones.
The news also boosted the broader market on Monday, but the indexes later gave up most of their gains.
Here are the trends of the seven major stocks at noon on Monday:
Apple: +2.3%
Alphabet: +1%
Microsoft: -0.4%
Nvidia: -0.8%
Tesla: -1.1%
Yuan: -1.8%
Amazon: -2%
The major indexes are seeking direction after their best week since 2023. It remains to be seen how protectionist policies will be adjusted in the future.
Here are the trading conditions of the major indexes:
S&P 500: 5,375.70, up 0.2%
Dow Jones Industrial Average: 40,260.75, up 0.1% (48 points)
Nasdaq Composite: 40,260.75, up 0.2%
The bond market also rose on Monday, with the benchmark 10-year Treasury yield falling 8 basis points. Rising U.S. Treasury yields amid the tariff storm have raised concerns among investors, as rising yields suggest foreign investors may be selling U.S. Treasuries.
Meanwhile, the dollar continues to trade near three-year lows, while cryptocurrencies have rebounded. Bitcoin is currently trading around $80,000.
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