Wall Street Rebounds Strongly Amid Tariff News

In a surprising turn of events, Wall Street experienced a significant rebound at Monday's opening. This surge came as reports suggested that the upcoming U.S. tariffs, set to be imposed on April 2, might not be as severe as initially feared. The tariffs are expected to be mostly reciprocal, avoiding specific industries, which has alleviated some concerns among foreign manufacturers.

Market Highlights

The Dow Jones Industrial Average climbed 0.77%, or 330 points, with Amazon leading the charge with a 2.20% increase. The Nasdaq 100 saw an even more impressive rise of 1.44%, thanks in part to Applovin Corp., which soared by 5.44%. Meanwhile, the S&P 500 grew by 1.07% by 9:31 am ET, with Tesla Inc. making headlines with a 5.39% rally.

Currency Update

On the currency front, the euro remained stable against the dollar, trading at 1.08237 at 9:33 am ET.