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U.S. stock index futures rose sharply on Monday, boosted by relief over the temporary exemption of electronics from President Donald Trump’s steep tariffs on Chinese imports. Investors also looked ahead to a busy week of corporate earnings and Federal Reserve commentary, with hopes that improving sentiment could sustain recent gains.
As of 05:15 ET (09:15 GMT):
- Dow Jones Futures rose 385 points (+1%)
- S&P 500 Futures gained 68 points (+1.3%)
- Nasdaq 100 Futures jumped 280 points (+1.5%)
The bounce builds on Friday’s strong session, which helped Wall Street close out a volatile week marked by abrupt policy shifts and market whiplash driven by Trump’s evolving tariff stance.
Electronics Tariff Exemption Lifts Tech Sector
The upbeat tone follows White House confirmation that smartphones, computers, and other electronics will be temporarily excluded from the 145% tariffs on Chinese goods. This offered relief to tech giants like:
- Apple (NASDAQ:AAPL)
- Tesla (NASDAQ:TSLA)
Trump later clarified the move was temporary, and signaled that a new tariff rate on imported semiconductors would be announced in the coming week.
“The exclusion gives companies more time to shift supply chains back to the U.S.,” said White House officials, but the uncertainty remains with more targeted tariffs looming.
Bond Market Turmoil Adds Caution
Despite the rally in equities, investor sentiment remains fragile following a selloff in U.S. Treasuries. Yields surged last week, undermining the traditional safe-haven appeal of U.S. government bonds and amplifying volatility across risk assets.
Earnings Season Heats Up: Goldman Sachs Kicks Off the Week
Corporate earnings are set to take center stage, beginning with Goldman Sachs (NYSE:GS) on Monday.
- Q1 consensus estimates:
- Revenue: $14.76 billion
- EPS: $12.26 (adjusted), according to Bloomberg
Wall Street peers JPMorgan Chase (NYSE:JPM) and Morgan Stanley (NYSE:MS) reported strong results last week, but flagged concerns that Trump’s trade policies could weigh on future performance, especially in deal activity and cross-border M&A.
Coming up Tuesday:
- Johnson & Johnson (NYSE:JNJ)
- Bank of America (NYSE:BAC)
- Citigroup (NYSE:C)
- United Airlines (NASDAQ:UAL)
Fed in Focus: Powell to Speak Wednesday
Markets will also be watching for signals from the Federal Reserve, with several Fed officials set to speak this week.
Chair Jerome Powell’s appearance on Wednesday will be closely scrutinized for clues on whether the central bank may shift its policy stance amid rising recession risks and market stress stemming from trade uncertainties.
Oil Prices Rebound After Steep Drop
Crude oil prices recovered slightly on Monday, following sharp losses earlier this month driven by global growth concerns tied to the U.S.-China trade war.
- Brent crude rose 0.7% to $65.20
- WTI crude climbed 0.7% to $61.95
Despite today’s rebound, both benchmarks remain down around $10 per barrel since early April, reflecting a deterioration in demand expectations.
Outlook: Relief Rally or Short-Lived Bounce?
Monday’s market strength hinges on hopes that the tariff reprieve signals a more measured trade strategy, but investors remain cautious as Trump continues to threaten new levies on sensitive sectors like semiconductors.
With earnings season ramping up, and key macro risks still unresolved, volatility may persist, and corporate guidance—particularly around trade exposure—could drive market direction in the near term.
