US stocks have opened high to start the week with a positive note, pushing tech stocks upwards due to Wall Street’s response to the latest tariff news.
Apple (AAPL), Nvidia (NVDA) and Dell (Dell) all rose on Monday morning. On Saturday, President Donald Trump’s administration revealed the exclusion of appliances, including smartphones and computers, from the announced tariffs.
As investors from Mega Cap Tech companies celebrated the move, stocks in several companies in the segment rose. Aside from AAPL, NVDA and Dell, there were also early benefits from Tesla and Intel.
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The S&P 500 opened with a profit of 1.7% as investors prepared for a busy week of revenue and potential development in the tariff landscape.
The Dow Jones industrial average also rose over 460 points. Meanwhile, the high-tech Nasdaq has soaked up following the 145% and 125% tariffs imposed by the US and China, respectively, but rose 2.3% as the market opened on April 14th.
Despite the bright opening, investors noted comments from U.S. Secretary of Commerce Howard Lutnick.
Wall Street’s positive opening coincides with expert commentary at the end of last week, with many noting that the sale following Trump’s tariffs on China could have marked a bottom of stock.
Mark Newton, managing director and head of global technology strategy at FundStrat Global Advisors, shared this sentiment in an interview with CNBC.
The major tech stock grace has AAPL and other stocks trading higher, but Gold’s performance slowed slightly last week. Precious metals remained at their highest ever height, but fell by almost 1%.
Safehaven assets continue to attract investors amid the turbulence of the market, but risky assets like Bitcoin (BTC) reflect the trajectory as tech stocks are bordered higher. Bitfinex analysts say BTC could surpass stocks amid the market recovery.
However, the market is recognising Trump’s comments through the true social society that elimination of tech stocks is not permanent.
In addition to tariff-related developments, attention will also be paid to this week’s revenue. After strong reports from several major banks last week, future results for Goldman Sachs (GS), Bank of America (BAC) and Citi (C) will be closely monitored.
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