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Tech Stocks Surge Amid Tariff Relief: A Premarket Rally
Wall Street is buzzing as U.S. stock futures climb, fueled by a temporary reprieve on tariffs for certain electronics. The White House announced exemptions for smartphones, computers, and other consumer electronics, sparking optimism among investors. Tech giants like Apple and Nvidia saw significant premarket gains, with Apple rising 4.7% and Nvidia up 2.1%.
While the exemptions offer a short-term boost, uncertainty looms as President Trump hinted at upcoming tariffs on semiconductors. Analysts remain cautious, noting the potential impact on economic growth and inflation. Despite this, the Nasdaq 100 futures jumped 1.46%, reflecting the market's positive sentiment.
This rally comes after a week of volatility, with the S&P 500 recording its biggest weekly gain since November 2023. As earnings season kicks off, investors will closely monitor corporate results and economic data for further insights.
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