Apple, big tech lead stocks relief rally after President Trump’s weekend tariff pause

U.S. stocks gained as investors parsed the Trump administration’s latest actions on reciprocal tariff exemptions for Apple iPhones, other cellphones, computers, and consumer electronics.
Esha Dey for Bloomberg News:
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On Friday, US Customs and Border Protection announced a tariff exclusion for some electronics, only for US Commerce Secretary Howard Lutnick and the president on Sunday to follow up by saying the reprieve was temporary and a procedural step in the longstanding plan to apply a different, specific levy to the sector.
US stocks are coming out of an intensely volatile week, when the benchmark indexes swung wildly amid news on tariffs. The swing was most extreme after President Donald Trump on Wednesday announced a 90-day pause on the levies for most countries except China. Stocks soared on that, with the S&P 500 notching its best one-day gain in 17 years and capping its best week since 2023.
The exemptions announced Friday night may be a boost for shares of companies from iPhone-maker Apple Inc. to semiconductor giant Nvidia Corp. Still, Lutnick and Trump’s suggestions that they may only be temporary are likely to keep traders on their toes.

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MacDailyNews Note: President Trump remarked on Sunday via Truth Social about his latest tariff moves:
NOBODY is getting “off the hook” for the unfair Trade Balances, and Non Monetary Tariff Barriers, that other Countries have used against us, especially not China which, by far, treats us the worst! There was no Tariff “exception” announced on Friday. These products are subject to the existing 20% Fentanyl Tariffs, and they are just moving to a different Tariff “bucket.” The Fake News knows this, but refuses to report it. We are taking a look at Semiconductors and the WHOLE ELECTRONICS SUPPLY CHAIN in the upcoming National Security Tariff Investigations. What has been exposed is that we need to make products in the United States, and that we will not be held hostage by other Countries, especially hostile trading Nations like China, which will do everything within its power to disrespect the American People. We also cannot let them continue to abuse us on Trade, like they have for decades, THOSE DAYS ARE OVER! The Golden Age of America, which includes the upcoming Tax and Regulation Cuts, a substantial amount of which was just approved by the House and Senate, will mean more and better paying Jobs, making products in our Nation, and treating other Countries, in particular China, the same way they have treated us. The bottom line is that our Country will be bigger, better, and stronger than ever before. We will, MAKE AMERICA GREAT AGAIN!

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