US Stock Futures Rise On Trump Tariff Relief On Tech Products: Apple, Nvidia, AMD Shares Surge In Pre-Market Trading

U.S. stocks were set for a positive opening on Monday as President Donald Trump delivered temporary relief for technology companies. 

Shares of Apple Inc. (AAPL), Nvidia Corp. (NVDA), and Advanced Micro Devices Inc. (AMD) were among the major gainers among technology giants.

President Donald Trump temporarily lifted tariffs on imports of smartphones, computers, and other electronic items from the reciprocal tariffs list.

Apple’s iPhones and other products are made in China at Foxconn’s facilities and imported into the U.S. Trump’s 145% tariffs on Chinese goods imports would have hit the company.

The Dow Jones futures were up 0.9% at the time of writing, while the S&P 500 and the Nasdaq 100 futures rose nearly 1.3%. Futures of the Russell 2000 index gained almost 0.6%.

Meanwhile, the SPDR S&P 500 ETF Trust (SPY) was up 1.20% on Monday morning, while Invesco QQQ Trust (QQQ) gained 1.4%.

Bitcoin (BTC) rose by 0.2% in the past 24 hours.

Asian markets ended Monday's trading session on a largely positive note. The Hang Seng index gained the most, at 2.4%, followed by the Nikkei 225, which surged 1.2%.

KOSPI gained 1%, while the Shanghai Composite ended 0.8% higher.

However, the TWSE Capitalization Weighted Stock Index edged lower, closing the day with a decline of 0.1%.

US Markets End Last Week In The Green

Despite a surge in volatility, benchmark indices ended in the green last week.

While the Dow Jones gained 7.6% last week, the S&P 500 closed with gains of 7.8%. The tech-heavy Nasdaq 100 index gained 9.1% as Chinese authorities clarified rules regarding the country of origin to determine the applicability of 125% tariffs on semiconductor chips.

After the Xi Jinping administration responded in kind to Trump’s latest tariff hike, increasing its levy to 125% from 84% on U.S. goods, the state-backed semiconductor alliance, China Semiconductor Industry Association (CSIA), issued a clarification stating that chips manufactured in fabrication facilities outside the U.S. would be treated as non-U.S. goods.

This means that Nvidia Corp. (NVDA), Qualcomm Inc. (QCOM), and Advanced Micro Devices Inc. (AMD), among others, will escape China tariffs since they outsource their manufacturing to Taiwan Semiconductor Manufacturing Co. Ltd. (TSMC).

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