Stocks rallied worldwide after President Donald Trump relaxed some of his tariffs and as stress from within the U.S. bond market seemed to ease.
The S&P 500 rose 0.8% Monday. The Dow Jones Industrial Average also rose 0.8%, and the Nasdaq composite climbed 0.6%.
Apple and other technology stocks helped lift the market after Trump temporarily exempted smartphones and other electronics from some of his stiff tariffs. Ford and GM also rallied after Trump said pauses for auto tariffs may be next. Perhaps more importantly for Wall Street, the bond market showed signals of increasing calm as Treasury yields eased.
On Monday:
The S&P 500 rose 42.61 points, or 0.8%, to 5,405.97.
The Dow Jones Industrial Average rose 312.08 points, or 0.8%, to 40,524.79.
The Nasdaq composite rose 107.03 points, or 0.6%, to 16,831.48.
The Russell 2000 index of smaller companies rose 20.67 points, or 1.1%, to 1,880.88.
For the year:
The S&P 500 is down 475.66 points, or 8.1%.
The Dow is down 2,019.43 points, or 4.7%.
The Nasdaq is down 2,479.31 points, or 12.8%.
The Russell 2000 is down 349.28 points, or 15.7%.
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