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Apple is the big stock winner after Trump's carve-out for electronic products
Embattled Apple investors have have caught a sudden break amid ongoing tariff chaos .
The stock spiked more than 7% in early trading on Monday before settling about 2% higher as the rest of the market saw gains erased entirely.
The increase is being driven by an announcement from the Trump administration that key tech products would be exempt from aggressive tariffs issued on China. Spared electronics include chipmaking equipment, computers, and smartphones.
The news also boosted the broader stock market on Monday before indexes pared most of their gains.
Here's where the Magnificent 7 stocks stood at mid-day on Monday:
Major stock indexes are seeking direction this week after posting their best week since 2023 . It remains to be seen how protectionist trade policy pivots moving forward.
Here's where major indexes were trading:
Bond markets also rallied on Monday, with the benchmark 10-year yield dropping 8 basis points. Treasurys have sparked investor anxiety amid the tariff turmoil, as rising yields indicated that foreign traders may be dumping government debt.
Meanwhile, the dollar continued to trade near a three-year low , while cryptocurrencies staged a comeback. Bitcoin is now in the mid-$80,000 range.
Read the original article on Business Insider