Stock traders threw caution to the wind and sent tech companies rallying, in a high-stakes bet that Trump is adopting a softer stance toward the sector in his disruptive trade war. With the White House signalling a tariff reprieve on key consumer electronics, the S&P climbed over 1%, led by tech megacaps. Treasuries rose and the dollar stabilised after last week’s selloff sparked fears about demand for US havens. Apple extended a two-day surge to about 7.5% while Nvidia paced gains in chipmakers. Goldman Sachs jumped as stock traders posted their highest revenue haul on record.
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