Bonus Share: 1:1 ratio announced; record date on April 3 – Auto stock surged 609% in 5 yearshttps://t.co/dQVehqXojE
— ET NOW (@ETNOWlive) March 30, 2025
The stock market rallied on Monday, with the Dow Jones Industrial Average surging nearly 600 points as investors grew optimistic that President Donald Trump may soften his stance on tariffs. The Dow closed at 42,583.32, up 597.97 points or 1.42%. The S&P 500 gained 1.76% to finish at 5,767.57, while the tech-heavy Nasdaq Composite climbed 2.27% to settle at 18,188.59.
#NewsFatafat | Deep gashes on the Wall Street with all three benchmark indices closing in the red. Hotter-than-expected inflation data and uncertainty over upcoming tariffs send markets in downward spiral#Nasdaq #WallStreet pic.twitter.com/KcZHv6iHkY
— ET NOW (@ETNOWlive) March 29, 2025
Reports from Bloomberg News and The Wall Street Journal suggested that Trump might grant exemptions to several countries and delay industry-specific duties beyond early April. Charlie Ripley, senior investment strategist at Allianz Investment Management, said, “Market conditions are improving dramatically as the angst around reciprocal tariffs is somewhat diminishing.”
US stocks tumble as deepening consumer gloom raises stagflation fears via @FT
https://t.co/w9429y1Iuz— Gregory Daco (@GregDaco) March 28, 2025
Consumer discretionary stocks, the worst-performing sector of 2025, led the S&P 500 on Monday, marking its best day since November 2023. The Consumer Discretionary Select Sector SPDR Fund (XLY) rose 3.7%, with Tesla climbing more than 10%.
Pinterest shares jumped 4.5% after an upgrade from Guggenheim, with analyst Michael Morris setting a price target of $40, implying more than 23% upside from Friday’s close. Palantir tracked for another session of remarkable gains, with the stock jumping more than 5% on Monday after rallying over 4% on Friday.
Dow surges amid tariff optimism
The Treasury Department extended Chevron’s license to pump oil in Venezuela until May 27, following President Trump’s indication of a reversal of a previous Biden administration decision. On Friday, stocks on Wall Street closed slightly higher, snapping a four-week losing streak. The S&P 500 edged up 0.1%, finishing the week with a 0.5% gain, although it’s still down 4.8% for the month.
Technology stocks rebounded to offset losses elsewhere in the S&P 500, with Apple gaining about 2% and Microsoft adding 1.1%. The Federal Reserve maintained its interest rates steady in its latest meeting, assessing the potential impact of trade policies and other economic shifts. Fed Chair Jerome Powell acknowledged the economy’s current strengths while highlighting the uncertainties that complicate forecasting.
By the end of Monday’s trading day, the S&P 500 rose 1.76%, while the Nasdaq gained 2.27%, and the Dow Jones Industrial Average added 1.42%. The rally was driven by a strong performance from major tech stocks, including Nvidia and Tesla, and supported by optimistic economic data, as the S&P March flash Composite PMI came in at 53.5, up from 51.6 in February, indicating growth in the private sector.
Photo by; Joel Filipe on Unsplash
