A Nasdaq $NDAQ bounce looks to be brewing on Monday after U.S. officials moved to temporarily exempt smartphones, laptops, and other high-end electronics from the Trump administration’s sweeping 145% tariffs on Chinese imports.
Tech stocks are in the spotlight amid chaotic tariff impositions and reversals
A Nasdaq $NDAQ bounce looks to be brewing on Monday after U.S. officials moved to temporarily exempt smartphones, laptops, and other high-end electronics from the Trump administration’s sweeping 145% tariffs on Chinese imports.
The European tech sector signaled strength earlier in the morning, and stateside, Apple $AAPL (AAPL) shares jumped more than 6%, Dell $DELL (DELL) surged over 7%, and Nvidia $NVDA (NVDA) and Intel $INTC (INTC) each climbed over 3% in early trading. The rally reflects just how sensitive markets remain to even short-lived tariff clarity.
But that clarity may be fleeting. Commerce Secretary Howard Lutnick said over the weekend that while consumer electronics are spared from reciprocal tariffs, they’re still on track to face new levies — set to hit “in probably a month or two.”
Meanwhile, Apple grabbed headlines for a different reason: taking the global top spot in smartphone shipments for the first quarter of 2025.
Strong demand for the iPhone 16e in Japan and India helped push Apple ahead of Samsung and its Chinese rivals. Even as supply chain concerns persist, Apple’s global brand power remains formidable.
Following strong results from mega-banks last week, Goldman Sachs $GS (GS) reported a 15% jump in profit to $4.74 billion, or $14.12 per share, before Monday’s market open. Strong trading revenues drove the beat, and shares rose 2% in early trading.
But Goldman’s performance is also a reminder: Wall Street firms often find ways to thrive in chaos. As a barometer for capital flows and market confidence, Goldman’s beat underscores how volatility, while unsettling, isn’t always unprofitable.
Despite Monday’s bounce, market outlooks are getting darker. Analysts at Morgan Stanley $MS (MS) and Citigroup $C (C) both slashed their year-end targets for U.S. equities, citing decelerating earnings growth, global instability, and increasingly erratic policy moves.
With major names like Netflix $NFLX (NFLX), Johnson & Johnson $JNJ (JNJ), and UnitedHealth $UNH (UNH) reporting this week, investor mood may hinge on whether the fundamentals hold — or whether Monday’s premarket optimism proves to be another false dawn.
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