Stocks in the US kicked off the week in the green, with the S&P 500 adding 1%, the Nasdaq soaring 1.5%, and the Dow Jones gaining 350 points, as traders hoped that the new US tariffs set to take effect on April 2nd could be softer and more targeted than initially anticipated.
US stocks soar on Monday
Reports emerged that President Donald Trump’s coming wave of tariffs is poised to be more selective rather than the broad-based measures he has previously threatened, easing investor concerns over potential disruptions to global trade.
All sectors finished in positive territory, with consumer discretionary, technology, and communication services leading the gains. Shares of Tesla surged more than 5% following strong vehicle delivery data and renewed optimism about its expansion plans. Other megacap stocks also climbed, with Apple rising 0.4%, Microsoft up 0.5%, Nvidia advancing 2.3%, Amazon gaining 2.3%, Meta surging 3.5%, and Alphabet adding 1.4%.
Eyes on economic data
Meanwhile, traders are closely watching upcoming economic data, particularly the flash S&P Global PMIs due today, for further insights into the performance of the private sector this month. The data will offer fresh signals on business activity, employment trends, and inflationary pressures, potentially shaping expectations for future Federal Reserve policy decisions.
