Wall Street Gains as White House Offers Tech Tariff Relief

Wall Street futures rose following the White House's temporary exemption of smartphones and computers from Chinese tariffs. Major U.S. tech stocks, including Apple, saw significant gains. The market remains volatile due to Trump's fluctuating tariff policies and the potential impact on economic growth and inflation.

Wall Street futures experienced a rise on Monday after the White House announced a temporary exemption of smartphones and computers from reciprocal tariffs on China. This move offered relief to crucial U.S. tech imports amidst escalating trade tensions.

Despite this exemption, U.S. Commerce Secretary Howard Lutnick indicated that these products would be subject to new duties in the coming months. Wall Street reacted positively with major indexes rising over 1%, as Apple shares increased 5.3% in premarket trading and chip stocks also saw gains.

The market volatility continues due to the Trump administration's inconsistent tariff policies, leaving investors uncertain about the future impact on economic growth and inflation. The short trading week is expected to provide insights into economic assessments amid ongoing policy uncertainty.

(With inputs from agencies.)