Major US Stock Markets Open Higher

Supported by fresh trade developments and significant corporate announcements, the US stock markets opened higher on Monday. President Donald Trump's temporary exclusion of smartphones and semiconductors from the 145% tariff on Chinese exports, as per CBP guidance, played a key role in boosting market sentiment.

Trade Developments and Corporate News

Washington clarified that the exemptions are short-term, with new chip tariffs expected soon. Trump also confirmed that a 20% fentanyl-related levy remains in effect. In corporate news, Nvidia announced plans to build AI supercomputer facilities entirely in the US, further lifting the market mood.

Market Performance

At 9:30 am ET, the Dow Jones Industrial Average soared 1.26% or 505 points, with Apple Inc. surging by 7.33%. The S&P 500 gained 1.77%, led by Monolithic Power Systems Inc. jumping 9.99%. The Nasdaq 100 started the session advancing 2.20%, as Palantir Technologies Inc. rose 8.11%. Meanwhile, the euro traded 0.53% lower against the dollar at 9:28 am ET, selling for $1.12992.