FX.co ★ US Stocks Rally as Tech Rebounds, Tariff Fears Ease

U.S. stock markets maintained their upward momentum as trading approached its final hour on Monday. Investor sentiment improved with speculations that the Trump administration might pursue a more refined strategy concerning tariffs, potentially mitigating the risks of an extensive trade war. The S&P 500 reached a two-week peak, advancing 1.6%, while the Nasdaq 100 increased by 2%, and the Dow Jones added over 550 points. Technology stocks were at the forefront of these gains; Nvidia and AMD saw increases of more than 3% and 7% respectively, and Tesla rebounded with a 10% surge following a period of declines. There were reports suggesting that the administration could exempt specific industry tariffs from the upcoming April 2 implementation, although officials indicated that final decisions were still pending. In recent weeks, investors have been unsettled by fears of an impending recession and subdued consumer confidence, but they responded positively to the potential shift in tariff policy. On the economic data front, preliminary Purchasing Managers' Indexes (PMIs) revealed surprisingly robust growth in the services sector, even as manufacturing experienced an unexpected downturn with a notable rise in input costs as a result of tariffs.