Advertisment
Stocks jumped Monday on optimism that President Donald Trump may hold back from implementing some of his wide-ranging tariff plans and so the U.S. could skirt an economic slowdown from a protracted trade war.
The Dow Jones Industrials barreled higher 597.99 points, or 1.4%, to 42,583.32.
The S&P 500 Index climbed 100.01 points, or 1.8%, to 5,767.57
The NASDAQ leaped 404.54 points, or 2.3%, to 19,188.59
Shares of Tesla, which have fallen nine straight weeks, were up more than 10%, adding to its Friday gains. Meta and Nvidia each climbed more than 3%.
Investors remain jittery over a potential slowdown in U.S. economic growth, as Trump’s April 2 start date for reciprocal tariffs approaches.
Trump has said the tariffs are aimed at any country that imposes duties on U.S. imports. But the Wall Street Journal reported the tariffs are expected to be more narrow in scope and will likely exclude some industry-specific duties, citing an administration official.
Trump will also exclude some nations from the tariffs, Bloomberg News reported. Both the WSJ and Bloomberg News reports noted that the situation remains fluid and the plans could change.
Investors remain jittery over a potential slowdown in U.S. economic growth, as Trump’s April 2 start date for reciprocal tariffs approaches.
Prices for the 10-year Treasury dropped sharply Monday, sending yields up to 4.33% from Friday’s 4.25%. Treasury prices and yields move in opposite directions.
Oil prices improved 97 cents to $69.25 U.S. a barrel.
Prices for gold fell $8.60 an ounce to $3,012.80 U.S.
