The US government announced over the weekend that certain consumer electronics such as smartphones and computers would be temporarily excluded from tariff parity. On Monday, US stocks opened higher, with the Wall Street's three major indices led by tech stocks.
Apple Rebounds, NVIDIA Announces Partnership with TSMC, Foxconn to Build AI Supercomputer Factory in the US
Encouraged by the temporary tariff exemption, Apple soared 7.5% last night, ultimately closing up 2.2% at $202.52, returning to a $3 trillion market value. Additionally, NVIDIA announced a partnership with TSMC, Foxconn, and other partners to build an AI supercomputer factory in the US, aiming to develop a $500 billion AI infrastructure within 4 years.
However, US President Trump earlier stated on Air Force One that he will reveal new semiconductor tariff rates within the next week and include automobiles, electronic products, and pharmaceuticals in the national security investigation. Although some products are exempted, this is only short-term, and future "special tariffs" will be imposed with new tax levels. NVIDIA's stock ultimately slightly declined 0.19%, closing at $110.71.
The gains of the four major indices were somewhat reduced, with final closing as follows:
- Dow Jones Industrial Average rose 312.08 points, or 0.78%, closing at 40,524.79 points
- S&P 500 Index rose 42.61 points, or 0.79%, to 5,405.97 points
- Nasdaq also rose 107.03 points, or 0.64%, to 16,831.48 points
- Philadelphia Semiconductor Index ultimately closed up 0.31% at 4,003.22 points
Cryptocurrency Market Responds Steadily, Traditional Assets' Hedging Role Gains More Attention
Amid intensifying political and economic risks, the cryptocurrency market remained relatively stable, with mainstream cryptocurrencies showing minimal volatility. Bitcoin (BTC) is currently at $84,670, with a 24-hour increase of 0.496%, while Ethereum (ETH) is at $1,631.39, up 1.17%.
- XRP is at $2.14, down 0.11% in the past 24 hours
- BNB is at $584.93, down 0.12% in the past 24 hours
- SOL is at $129.22, down 1.04% in the past 24 hours
Signals Complex, Market Outlook Remains Cloudy
The New York Federal Reserve's recent March survey report shows that US consumers' concerns about inflation and unemployment have intensified, with inflation expectations for the next year rising to 3.58%, higher than expected. Concerns about future economic weakness have risen to the highest level since the April 2020 pandemic.
Meanwhile, Minneapolis Fed President Kashkari and former US Treasury Secretary Yellen emphasized that bond market volatility does not require Fed intervention, and the tariff impact from Trump's strategy will not be long-lasting. Therefore, the Fed may still have a chance to cut rates this year.
Whether the US-China trade war can be resolved through dialogue, whether the US bond market can return to normal, and whether the Fed will cut rates will continue to influence market trends.
