Market Surge: Tech and Tariff Relief Boost S&P 500

The S&P 500 saw a notable rise to its highest level in over two weeks, driven by gains in Nvidia and Tesla. Investor optimism was sparked by signals that the Trump administration may ease tariffs. Despite the gains, concerns over tariffs and their economic impacts persist.

The S&P 500 soared to a two-week high, fueled by technology giants Nvidia and Tesla, amid indications of a more lenient tariff approach from the Trump administration. President Trump's announcements on upcoming automobile tariffs left investors optimistic, although specifics were scarce.

Technology stocks experienced significant recovery, with Nvidia and Advanced Micro Devices leading the charge. Tesla saw its largest single-day increase since November, instigated by hopes of reduced U.S. tariffs. Despite recent volatility from inflation and economic downturn fears, investor sentiment saw a temporary lift.

Market analysts remain cautious about the long-term effects of tariffs on economic growth. While the S&P 500 has partially rebounded, it's still down from February's record high. Meanwhile, financial reports predict a slower growth rate for S&P 500 firms as the year progresses.

(With inputs from agencies.)