Trade Tariffs Lift Steelmakers, Tech Stocks Lead Wall Street Gains

Wall Street saw gains as tech stocks like Nvidia surged, buoyed by U.S. steel and aluminum tariffs announced by President Trump. Steelmakers benefited alongside wider market sectors, driving investor optimism amid strong corporate earnings reports. The Federal Reserve's upcoming policy discussions are in focus.

Wall Street's major indexes saw a rise on Monday, driven by gains in tech stocks like Nvidia, and a boost in steelmaker shares, following President Trump's announcement of additional tariffs on steel and aluminum imports.

The proposed 25% tariffs are on top of existing duties, benefiting U.S. metals producers like Nucor and Steel Dynamics, which saw significant stock surges. Other tech companies, including AI chipmakers Nvidia and Broadcom, also experienced gains.

Investors remain optimistic due to positive corporate earnings, with S&P 500 companies posting higher-than-expected growth. Upcoming Federal Reserve discussions on monetary policy have further captured investor attention, especially after mixed employment data.

(With inputs from agencies.)