US close: Stocks higher as tariff exemptions boost sentiment
Wall Street stocks closed higher on Monday as surprise tariff exemptions from Donald Trump boosted sentiment.
At the close, the Dow Jones Industrial Average was up 0.78% at 40,524.79, while the S&P 500 advanced 0.79% to 5,405.97, and the Nasdaq Composite saw out the session 0.64% firmer at 16,831.48.
The Dow closed 312.08 points higher on Monday, extending gains recorded in the previous session as the blue-chip index wrapped up one of its most volatile trading weeks on record with solid gains.
US Customs and Border Protection revealed that smartphones and computers, as well as other devices and semiconductors, would be exempted from Donald Trump's newly announced "reciprocal" tariffs, sending shares in the likes of Apple and Nvidia higher.
However, Trump and his Commerce secretary Howard Lutnick later indicated that the exemptions weren't permanent, with Trump saying these products were still "subject to the existing 20% Fentanyl Tariffs" and that they were "just moving to a different Tariff 'bucket'."
In the corporate space, investment banking giant Goldman Sachs said Q1 net revenues came to $15.06bn in Q1, surpassing expectations of $14.8bn, while net earnings grew 15% to $4.74bn.
Elsewhere, Intel agreed to sell 51% of its Altera business to private equity firm Silver Lake in a deal that values the unit at $8.75bn.
No major data points were released on Monday.
Reporting by Iain Gilbert at Sharescast.com
Dow Jones - Risers
Apple Inc. (AAPL)$202.527.91%
Amgen Inc. (AMGN)$293.924.98%
Walgreens Boots Alliance, Inc. (WBA)$10.912.49%
Travelers Company Inc. (TRV)$244.912.33%
Walmart Inc. (WMT)$92.802.08%
McDonald's Corp. (MCD)$309.721.99%
Goldman Sachs Group Inc. (GS)$494.441.93%
Nike Inc. (NKE)$54.391.88%
Johnson & Johnson (JNJ)$151.731.73%
Cisco Systems Inc. (CSCO)$57.411.70%
Dow Jones - Fallers
Unitedhealth Group Inc. (UNH)$599.44-2.07%
JP Morgan Chase & Co. (JPM)$236.20-0.63%
Walt Disney Co. (DIS)$84.93-0.27%
Chevron Corp. (CVX)$135.63-0.23%
Salesforce.Com Inc. (CRM)$255.00-0.18%
Merck & Co. Inc. (MRK)$79.18-0.01%
Dowdupont Inc. (DWDP)$0.000.00%
Intel Corp. (INTC)$19.740.00%
3M Co. (MMM)$135.900.04%
Visa Inc. (V)$333.400.53%
S&P 500 - Risers
Qorvo, Inc. (QRVO)$58.9411.97%
Skyworks Solutions Inc. (SWKS)$57.7111.56%
Nektar Therapeutics (NKTR)$0.609.29%
Microchip Technology Inc. (MCHP)$38.888.53%
Apple Inc. (AAPL)$202.527.91%
Bath & Body Works, Inc. (BBWI)$26.527.55%
Incyte Corp. (INCY)$59.227.46%
Hasbro Inc (HAS)$53.357.37%
Idexx Laboratories Inc. (IDXX)$404.656.90%
Applied Materials Inc. (AMAT)$144.536.52%
S&P 500 - Fallers
Foot Locker Inc. (FL)$11.81-3.81%
Humana Inc. (HUM)$295.18-3.46%
Kohls Corp. (KSS)$6.72-3.12%
DaVita Inc (DVA)$155.55-2.98%
Southwest Airlines Co. (LUV)$26.19-2.41%
Unitedhealth Group Inc. (UNH)$599.44-2.07%
Alaska Air Group Inc. (ALK)$45.73-1.64%
Delta Airlines Inc. (DAL)$40.88-1.42%
Fidelity National Information Services Inc. (FIS)$72.38-1.37%
Centene Corp. (CNC)$63.79-1.33%
Nasdaq 100 - Risers
Skyworks Solutions Inc. (SWKS)$57.7111.56%
Microchip Technology Inc. (MCHP)$38.888.53%
Apple Inc. (AAPL)$202.527.91%
Incyte Corp. (INCY)$59.227.46%
Hasbro Inc (HAS)$53.357.37%
Idexx Laboratories Inc. (IDXX)$404.656.90%
Applied Materials Inc. (AMAT)$144.536.52%
Biomarin Pharmaceutical Inc. (BMRN)$59.676.19%
Biogen Inc (BIIB)$119.266.06%
Baidu Inc. (BIDU)$85.245.98%
Nasdaq 100 - Fallers
Tesla Inc (TSLA)$252.35-0.78%
NetEase Inc. Ads (NTES)$99.350.00%
Activision Blizzard Inc. (ATVI)$94.420.00%
Dish Network Corp. (DISH)$5.770.00%
Meta Platforms Inc. (META)$543.570.00%
Seagate Technology Plc (STX)$70.150.00%
Kraft Heinz Co. (KHC)$29.330.00%
Intel Corp. (INTC)$19.740.00%
Xilinx Inc. (XLNX)$0.000.00%
Alexion Pharmaceuticals Inc. (ALXN)$0.000.00%