Major stock markets in the United States opened higher on Monday, supported by fresh trade developments and major corporate announcements. President Donald Trump temporarily excluded smartphones and semiconductors from the 145% tariff on Chinese exports, per CBP guidance. Washington said the exemptions are short-term, with new chip tariffs coming soon. Trump confirmed a 20% fentanyl-related levy still applies.
Nvidia also lifted sentiment with plans to build AI supercomputer facilities entirely in the US.
At 9:30 am ET, the Dow Jones Industrial Average index soared 1.26% or 505 points with Apple Inc. surging by 7.33%. The S&P 500 gained 1.77% with Monolithic Power Systems Inc. jumping 9.99%. The Nasdaq 100 started the session advancing 2.20% as Palantir Technologies Inc. rose 8.11%. The euro traded 0.53% lower against the dollar at 9:28 am ET to sell for $1.12992.
