U.S. Ambassador to India Gor says he discussed bilateral issues with PM Modi
U.S. Ambassador to India Sergio Gor said he held talks with Indian Prime Minister Narendra Modi, focusing on key bilateral issues including trade, def...
Wall Street’s main indexes surged on Monday, driven by gains in technology stocks, after the White House announced exemptions for smartphones and computers from new tariffs on Chinese imports. However, additional levies on semiconductors are still expected later this week.
The exemptions were revealed on Friday, and President Donald Trump stated that tariff rates for imported semiconductors would be announced later. According to U.S. Commerce Secretary Howard Lutnick, the exempted tech products will face new duties within two months. These products, which include smartphones and computers, make up about 20% of U.S. imports from China, according to Deutsche Bank.
At 09:37 a.m., the Dow Jones Industrial Average rose by 416.38 points, or 1.04%, to 40,629.09, while the S&P 500 gained 71.87 points, or 1.34%, to 5,435.23, and the Nasdaq Composite climbed by 281.52 points, or 1.68%, to 17,005.97.
Information technology stocks led the gains, with the sector rising by 2.3%. Apple was among the top performers, gaining 5.4%, while semiconductor stocks also advanced, with the Philadelphia SE Semiconductor index rising 1.1%. Other stocks seeing gains included PC maker HP, which increased 4%, and retailer Best Buy, which added 5%.
The CBOE Volatility Index (VIX), often referred to as Wall Street's "fear gauge," dropped from the eight-month highs seen last week, standing at 32.95.
The tariff exemptions helped reduce some pressure on consumer goods, particularly Apple products, which would have faced significant challenges if tariffs had been imposed, according to Kim Forrest, CIO at Bokeh Capital Partners. Forrest speculated that the Trump administration might be responding to consumer pressure and suggested the possibility of further tariff reductions.
The move marks the latest development in the back-and-forth tariff policies under the Trump administration, which have contributed to trade tensions with China and caused significant market fluctuations since the COVID-19 pandemic in 2020.
Despite the gains, the S&P 500 is still approximately 4.5% below the levels seen before the "Liberation Day" tariff announcement on April 2.
Goldman Sachs shares rose by 2.1% after the bank reported higher first-quarter profits. Investors are also watching for quarterly earnings from companies like Netflix this week.
In other notable moves, obesity drugmakers saw gains after Pfizer announced it would discontinue development of its experimental weight-loss pill. Eli Lilly and Viking Therapeutics rose by 1% and 13%, respectively.
Citigroup downgraded U.S. equities to "neutral" from "overweight," citing expectations that tariffs would negatively impact earnings growth.
With key economic data, including U.S. retail sales for March and commentary from Federal Reserve Chair Jerome Powell, expected later this week, markets will be closely watching for further signs of economic direction.
On the NYSE, advancing issues outnumbered decliners by a 7.36-to-1 ratio, and on the Nasdaq, the ratio was 3.83-to-1. The S&P 500 posted one new 52-week high, while the Nasdaq recorded 19 new highs and 19 new lows.
Video from the USGS (United States Geological Survey) showed on Friday (19 September) the Kilauea volcano in Hawaii erupting and spewing lava.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
Authorities in California have identified the dismembered body discovered in a Tesla registered to singer D4vd as 15-year-old Celeste Rivas Hernandez, who had been missing from Lake Elsinore since April 2024.
A powerful 7.4-magnitude earthquake struck off Russia’s Kamchatka Peninsula on 13 September with no tsunami threat, coming just weeks after the region endured a devastating 8.8-magnitude quake — the strongest since 1952.
A shooting in Nice, southeastern France, left two people dead and five injured on Friday, authorities said.
A federal jury in Marshall, Texas, ruled on Friday that Samsung Electronics must pay nearly $445.5 million in damages to patent holder Collision Communications for infringing patents linked to 4G, 5G, and Wi-Fi communication standards.
Gold prices rose above $4,000 an ounce for the first time on Wednesday, fuelled by investor demand for safe-haven assets amid rising geopolitical tensions and expectations of U.S. interest rate cuts.
U.S. shares ended Tuesday in negative territory as investors, cut off from official economic data due to the ongoing government shutdown, looked to alternative indicators and comments from Federal Reserve officials for guidance on economic weakness and monetary policy.
Elon Musk’s artificial intelligence startup xAI is targeting a $20 billion capital raise linked to Nvidia hardware, Bloomberg News has reported.
Türkiye’s benchmark stock index, the BIST 100, closed Tuesday at 10,814.11 points, up 0.74% from the previous session.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment