US open: Stocks higher on tech tariff exemptions

(Sharecast News) - Wall Street stocks were in the green early on Monday as surprise tariff exemptions from Donald Trump gave sentiment a boost.

As of 1550 BST, the Dow Jones Industrial Average was up 1.12% at 40,664.88, while the S&P 500 advanced 1.56% to 5,446.84, and the Nasdaq Composite came out the gate 1.89% firmer at 17,041.10.

The Dow opened 452.17 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 scheduled for release on Monday.

Reporting by Iain Gilbert at Sharescast.com

Dow Jones - Risers

Apple Inc. (AAPL) $204.82 9.13%

Amgen Inc. (AMGN) $289.45 3.38%

Microsoft Corp. (MSFT) $392.95 2.73%

Cisco Systems Inc. (CSCO) $57.94 2.64%

Walgreens Boots Alliance, Inc. (WBA) $10.86 2.07%

Nike Inc. (NKE) $54.39 0.00%

Caterpillar Inc. (CAT) $293.21 0.00%

Walt Disney Co. (DIS) $84.93 0.00%

Home Depot Inc. (HD) $353.86 0.00%

Dowdupont Inc. (DWDP) $0.00 0.00%

Dow Jones - Fallers

American Express Co. (AXP) $251.13 0.00%

Unitedhealth Group Inc. (UNH) $599.44 0.00%

Home Depot Inc. (HD) $353.86 0.00%

Dowdupont Inc. (DWDP) $0.00 0.00%

Nike Inc. (NKE) $54.39 0.00%

Dow Chemical Co. (DOW) $28.43 0.00%

Visa Inc. (V) $333.40 0.00%

Merck & Co. Inc. (MRK) $79.18 0.00%

Caterpillar Inc. (CAT) $293.21 0.00%

Walt Disney Co. (DIS) $84.93 0.00%

S&P 500 - Risers

Nektar Therapeutics (NKTR) $0.63 14.60%

Skyworks Solutions Inc. (SWKS) $58.47 13.04%

Qorvo, Inc. (QRVO) $59.33 12.72%

Microchip Technology Inc. (MCHP) $40.25 12.35%

Apple Inc. (AAPL) $204.82 9.13%

Applied Materials Inc. (AMAT) $146.88 8.25%

Micron Technology Inc. (MU) $73.59 7.93%

Texas Instruments Inc (TXN) $153.47 7.49%

Analog Devices Inc. (ADI) $181.73 7.35%

QUALCOMM Inc. (QCOM) $141.46 7.29%

S&P 500 - Fallers

Southern Co. (SO) $89.81 0.00%

General Mills Inc. (GIS) $57.97 0.00%

Ralph Lauren Corp (RL) $197.92 0.00%

Vornado Realty Trust (VNO) $33.21 0.00%

IQVIA Holdings Inc. (IQV) $145.35 0.00%

Coterra Energy Inc. (CTRA) $25.16 0.00%

Digital Realty Trust (DLR) $145.09 0.00%

Allstate Corp (The) (ALL) $192.55 0.00%

L3 Technologies Inc (LLL) $0.00 0.00%

Merck & Co. Inc. (MRK) $79.18 0.00%

Nasdaq 100 - Risers

Skyworks Solutions Inc. (SWKS) $58.47 13.04%

Microchip Technology Inc. (MCHP) $40.25 12.35%

Apple Inc. (AAPL) $204.82 9.13%

Trip.com Group Limited (TCOM) $58.84 8.96%

Applied Materials Inc. (AMAT) $146.88 8.25%

Micron Technology Inc. (MU) $73.59 7.93%

Baidu Inc. (BIDU) $86.48 7.52%

Texas Instruments Inc (TXN) $153.47 7.49%

Analog Devices Inc. (ADI) $181.73 7.35%

QUALCOMM Inc. (QCOM) $141.46 7.29%

Nasdaq 100 - Fallers

Xilinx Inc. (XLNX) $0.00 0.00%

Meta Platforms Inc. (META) $543.57 0.00%

Seagate Technology Plc (STX) $70.15 0.00%

Kraft Heinz Co. (KHC) $29.33 0.00%

Cerner Corp. (CERN) $0.00 0.00%

Intel Corp. (INTC) $19.74 0.00%

Dish Network Corp. (DISH) $5.77 0.00%

Alexion Pharmaceuticals Inc. (ALXN) $0.00 0.00%

NetEase Inc. Ads (NTES) $99.35 0.00%

Maxim Integrated Products Inc. (MXIM) $0.00 0.00%