Market Pulse – Live UpdatesMajor Indexes Surge as Trump Administration Exempts Electronics from Tariffs
Wall Street rallied on Monday, April 14, 2025, as investors cheered the Trump administration’s decision to temporarily exempt smartphones, computers, and other electronic devices from reciprocal tariffs. The major indexes posted significant gains, continuing last week’s positive momentum despite ongoing uncertainty about future trade policies.
The S&P 500 climbed 1.43% to 5,439.96, extending its recovery after experiencing its most volatile trading week since the COVID-19 pandemic.
Tech Sector Leads Market Rally on Tariff Relief
The “Magnificent Seven” tech stocks led Monday’s rally after the U.S. Customs and Border Protection issued regulations late Friday exempting consumer electronics, networking equipment, and computing products from reciprocal tariffs. These exemptions cover approximately $340 billion in global imports, with China accounting for $100 billion of the exclusions.
Apple (AAPL) was among the biggest gainers, rising 3.64% to $205.36, as the exemptions covered virtually all of its products, including smartphones, personal computers, tablets, smartwatches, and other accessories.
However, market uncertainty remains as President Trump indicated these exemptions are temporary. On Sunday, Trump stated that tariffs on semiconductors and other tech products “will be in place in the not distant future,” adding that semiconductor tariff announcements would come “over the next week.”
Market Recovery After Volatile Week
Monday’s gains build on last week’s positive performance, which saw the S&P 500 gain 5.70%, its best weekly performance since November 2023. The Dow Jones Industrial Average jumped 4.95%, while the Nasdaq Composite rose an impressive 7.29%, marking its best weekly performance since November 2022.
Despite the recent rally, all three major indexes remain down significantly since Trump’s “reciprocal tariffs” were first announced earlier this month. The S&P 500 has dropped 5.4%, while the Nasdaq Composite and Dow Jones Industrial Average have fallen about 5% and 4.8%, respectively.
Upcoming Market Events and Earnings Releases
This week brings a packed calendar of earnings reports that could significantly impact market direction. Major financial institutions including Goldman Sachs, Bank of America, and Citigroup are scheduled to release their quarterly results.
Other key companies reporting this week include streaming giant Netflix (NFLX) and major carrier United Airlines, which will provide insights into consumer spending and travel demand.
Investors will also be watching the European Central Bank’s interest rate decision on Thursday, April 17, which could impact global markets.
Trade Policy Uncertainty Continues to Loom
While Monday’s rally reflects investor relief over the temporary tariff exemptions, uncertainty about future trade policies continues to cast a shadow over the market. Commerce Secretary Howard Lutnick indicated that the exempted technology products would face new duties within the next two months.
Citigroup downgraded U.S. equities to “neutral” from “overweight” on expectations that Trump’s sweeping tariffs would ultimately hit earnings growth.
Looking Ahead: Market Outlook
As we move further into the week, investors will be closely monitoring earnings reports, economic data, and any further developments on trade policy. The shorter trading week ahead (markets will be closed on Good Friday) will be scrutinized for indications of how policymakers, businesses, and consumers are assessing the economic outlook amid ongoing policy uncertainty.
While today’s rally provides some optimism, market volatility is likely to persist as investors continue to digest the implications of potential tariffs and their impact on global supply chains, inflation, and corporate earnings. The technology sector, which has been particularly sensitive to trade tensions, will remain in focus as more details emerge about the administration’s plans for semiconductor tariffs.