Wall Street Gains as Major Tech Firms Dodge New Tariffs

U.S. stock futures rose Thursday as major tech firms, including Apple, avoided new tariffs on chip imports announced by President Trump. Apple gained after announcing a significant U.S. investment. Optimism around AI spending and traders anticipating interest rate cuts also boosted markets.

In a positive turn for Wall Street, U.S. stock index futures climbed on Thursday morning, buoyed by indications that significant technology companies will sidestep the latest tariffs on chip imports imposed by President Donald Trump. The market surge is part of a continued rally led by major firms, with Apple's premarket shares seeing a 3.2% increase.

Apple's stock rise was further fueled by the announcement of a $100 billion investment in the United States, bringing its total investment to $600 billion over four years. While Trump introduced a sweeping tariff on semiconductor imports, exemptions were granted to companies manufacturing domestically or committed to doing so, sparking gains for chipmakers like Nvidia and Intel.

Despite the implementation of higher tariffs on various trading partners, market sentiment remains high. This optimism is bolstered by policy easing expectations from the Federal Reserve, given recent unsatisfactory economic data, specifically regarding jobs. Investors are closely monitoring upcoming economic indicators and federal appointments that may influence the financial landscape.

(With inputs from agencies.)