Apple's 2% jump on tariff relief lifted the Nasdaq 100, but with market fragility in focus, traders are watching to see if the rally has real staying power.
US stock indices are expected to continue rallying on Monday, where they left off last week, following the exemption from 'reciprocal' tariffs for smartphones and computers. Tech companies were predicted to lead the gains at the start of the week, with Nasdaq 100 futures rising 1.7%, followed by a 1.5% gain for S^P 500 futures and 1% for the Dow Jones.
Nasdaq-100 futures indicated tech stocks would lead U.S. stocks higher as a new week of trading got under way Sunday night, though investors noted confusion remained after mixed signals from the Trump administration over tariffs on smartphones and other consumer electronics.
"May you live in interesting times."
US-China trade war rattled Asian markets—Hang Seng plunged, ASX wobbled, but the Nikkei rallied as Tokyo escaped harsher tariffs.
Semiconductor stocks led the Nasdaq recovery on April 9.
Nasdaq (NDAQ) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.
A portion of the previous day's huge tariff reprieve rally on Wall Street is predicted to be trimmed on Thursday, with trade tensions between the US and China continuing to rumble. Dow Jones futures were pointing to a loss of around 460 points or 1.15%, while S&P 500 futures were showing a 1.6% deficit and those for the Nasdaq indicated a 1.95% drop.
One expectation for this earnings season is that you'll see many companies pull guidance amidst tariff uncertainty.
The Nasdaq Composite (^IXIC -2.15%) includes almost every company listed on the Nasdaq stock exchange, so it's often a good proxy for the performance of the broader technology industry. As of the close on Friday, April 5, the index was down by 22% from its all-time high, which officially places it in a bear market.
The market saw red for much of the first quarter of 2025. Shares of Palantir Technologies (PLTR -0.62%), however, bucked the trend.
Wealth manager Josh Brown issued a stark warning about volatile technology stocks.