Market Response: Wall Street Futures Soar on Tariff Exemptions

Wall Street share futures rose in Asia following the White House's exemption of smartphones and computers from U.S. tariffs. Despite this, uncertainty looms as President Trump hinted at future tariffs. Investors remain cautious amid market volatility with potential rate cuts and economic data releases this week.

Wall Street share futures gained traction in Asia on Monday morning as the White House announced an exemption for smartphones and computers from reciprocal U.S. tariffs. However, gains were tempered by President Donald Trump's warning of possible future levies.

The exemption, covering 20 product types accounting for approximately 23% of U.S. imports from China, was welcomed by manufacturers. Nevertheless, mixed policies have led to investor confusion and bearish market sentiments in the long term.

U.S. markets are now bracing for crucial earnings reports from major banks and data releases, including U.S. retail sales and China's GDP. Federal Reserve Chair Jerome Powell is set to discuss economic outlooks, amid ongoing investor concerns over trade policies and market volatility.

(With inputs from agencies.)