S&P 500 and Nasdaq rise less than 1%
Apple and Dell perform strongly due to temporary electronic product tariff exemptions, ‘[Edaily Reporter Kim Yoon-ji] On the 14th (local time), the three major indices of the New York Stock Exchange closed higher. The temporary exemption of tariffs on semiconductors and other electronic products is seen as a driving force boosting investor sentiment.’,
On this day, the Dow Jones Industrial Average, which gathers blue-chip stocks, closed at 45,524.79, up 0.78% from the previous trading day. The Standard & Poor’s (S&P) 500 Index, a large-cap benchmark, finished at 5,405.97, up 0.79%. The Nasdaq Index, which is tech-heavy, rose 0.64% to close at 16,831.48.
Investors welcomed President Donald Trump’s temporary tariff exemptions. The U.S. Customs and Border Protection (CBP) announced on the night of the 11th the ‘mutual tariff exclusion notice for certain goods’ and included semiconductors and electronic products in the exemption category. This led to expectations in the market that tech companies could avoid the ‘tariff war’ and maintain affordable prices for consumer goods like smartphones and laptops.
Following this, President Trump and senior officials of the Trump administration stated that semiconductors and electronic products, directly connected to national security, would be subject to tariffs based on an investigation under ‘Trade Expansion Act Section 232’. However, the market viewed the additional exemptions positively. As a result, Apple (2.21%) and Dell (4.00%), expected to be hit hard by tariffs, showed strong performance.
Additionally, President Trump suggested further temporary tariff exemptions related to automobiles, leading to a rise in automobile manufacturers’ stock prices. A 25% tariff on imported cars has been in effect since the 3rd. Buoyed by President Trump’s remarks, General Motors (GM) (3.48%), Ford (4.13%), and Stellantis (5.64%) saw their stock prices rise.
Jed Ellerby, portfolio manager at Argent Capital Management, commented, “The market sees the Trump administration as stepping back from extreme tariff proposals,” adding, “It’s gradual, but good news.”