Today’s Midday Market Update: Tech Stocks Lead Rally on Tariff Exemptions
Market Indexes Surge as Tech Sector Rebounds
As of midday on Monday, April 14, 2025, major U.S. stock indexes are posting significant gains, with technology stocks leading the way following news of temporary tariff exemptions for key tech products. The S&P 500 is up 1.44% at 5,440.47, adding 77.11 points from the previous close.
This rally comes after an extraordinarily volatile previous week where major indexes posted their biggest weekly gains since late 2022/early 2023, following dramatic swings related to tariff announcements and subsequent modifications.
Tariff Exemptions Boost Tech Stocks
Today’s market surge is primarily driven by President Trump’s surprise announcement exempting key tech items including smartphones, computers, and semiconductors from reciprocal tariffs. While the White House has clarified these exemptions aren’t permanent, investors have responded positively to this temporary reprieve.
Apple (AAPL) is among the biggest beneficiaries, with shares up 3.60% to $205.28 as of midday.
Commerce Secretary Howard Lutnick has warned that these exemptions may be temporary, which has injected some caution into the market euphoria. President Trump has also indicated that products are still subject to existing 20% Fentanyl tariffs, just moved to a different tariff “bucket.”
Earnings Season Kicks Off
Today marks the beginning of a significant earnings season, with major financial institutions reporting their Q1 2025 results. Goldman Sachs Group (GS) reported before the market opened, beating analyst expectations with earnings of $14.12 per share against estimates of $12.35, and revenue of $15.06 billion versus the expected $14.81 billion. This strong performance has helped Goldman shares gain nearly 2% in today’s trading.
M&T Bank Corporation (MTB) also reported earnings today, with analysts expecting earnings per share of $3.41, representing a 10.36% increase compared to the same quarter last year.
Upcoming Market Events
Investors should keep an eye on several important economic events scheduled for this week:
1. On Thursday, April 17, the European Central Bank will announce its Interest Rate Decision, which could impact global markets.
2. Thursday will also see the release of U.S. Building Permits data and the Philadelphia Fed Manufacturing Index, providing insights into the construction sector and regional manufacturing activity.
3. Friday, April 18, will be a bank holiday in several countries including New Zealand, Australia, Switzerland, the UK, Canada, and Germany, which may affect trading volumes and market liquidity.
Other Notable Market Movers
Beyond the tech sector, several other stocks are making significant moves today:
– MP Materials Corp. (MP) is the top gainer on major exchanges, surging 22.27% to $27.73.
– Several Argentine financial institutions are posting double-digit gains, including Banco BBVA Argentina (BBAR) up 14.41%, Banco Macro (BMA) up 13.90%, and Grupo Financiero Galicia (GGAL) up 13.52%.
– Pfizer (PFE) shares are down slightly after the company announced it was halting development of a weight loss pill due to liver injury reported in a trial.
– Webull Corporation (BULL) is making headlines with an extraordinary gain of over 249%, trading at $46.27.
Market Outlook and Concerns
Despite today’s rally, market participants remain cautious about several factors that could impact trading in the coming days and weeks. The uncertainty surrounding the permanence of tech tariff exemptions continues to be a concern, with some analysts warning of “massive uncertainty” ahead.
Gold prices, which have been on a strong uptrend in 2025 (up 23% since the start of the year), have pulled back slightly today, down 0.44% to $3,230.30 per ounce.
The CBOE Volatility Index (VIX), often referred to as the “fear gauge,” had spiked above 50 last week, indicating significant market uncertainty.
As the trading day continues, market participants will be closely monitoring any additional comments from administration officials regarding the duration and scope of tariff exemptions, as well as upcoming earnings reports that could provide insights into the health of the broader economy.
