Dow futures climb as stocks point higher after Trump issues temporary tariff exemptions on key tech imports
Futures for the Dow Jones Industrial Average rose 115 points, or 0.28%, while S&P 500 futures were up 0.68%, and Nasdaq futures jumped 1.11%.
Futures for the Dow Jones Industrial Average rose 115 points, or 0.28%, while S&P 500 futures were up 0.68%, and Nasdaq futures jumped 1.11%.
The U.S. Federal Reserve, represented by Boston Fed President Susan Collins, has stated it is prepared to intervene in financial markets if necessary.
TOKYO (Reuters) -Japan's Nikkei share average ended higher on Monday, as iPhone-related shares jumped after the United States excluded smartphones and other electronics from steep tariffs. The Nikkei gained 1.18% to close at 33,982.36, after gaining as much as 2.22% earlier in the session. "The market is still swayed by various headlines," said Yugo Tsuboi, chief strategist at Daiwa Securities.
SYDNEY (Reuters) -Major stock indexes bounced in Asia on Monday and Europe looked set to follow after the White House exempted smartphones and computers from "reciprocal" U.S. tariffs, though gains were limited as President Donald Trump warned levies were still likely at some point. Indeed, Trump on Sunday told reporters tariffs on semiconductors would be announced over the next week and a decision on phones made "soon". On the face of it, the exemption of 20 product types accounting for 23% of U.S. imports from China was a boon to manufacturers.
Stock futures rose Sunday after a temporary reprieve from tariffs on electronic imports from China by the Trump administration.
The idea of "American exceptionalism" in the global economy and financial markets has rapidly lost favor this year, but others are sticking with the US.
Trump administration officials were out in force across the television networks Sunday defending President Donald Trump’s economic policies after another week of reeling markets that saw the Republican administration reverse course on some of its steepest tariffs. Trump, meanwhile, said on his social media platform that there ultimately will be no exemptions for his sweeping tariff agenda, disputing characterizations that he has granted tariff exceptions for certain electronics, including smart phones, whose production is concentrated in China.
"When people are vomiting up stocks, you gotta be in there cleaning it up," Craig Johnson told Business Insider.
Something strange is happening in the US.
Here is how much the S&P 500, the Nasdaq 100, and the Dow need to gain to finish the year where they started.