NEW YORK (Reuters) — U.S. stocks ended higher on Monday, April 14, 2025, led by gains in technology shares after the White House announced exemptions for smartphones and computers from new tariffs. The move gave the S&P 500 a notable boost, with Apple Inc. (AAPL.O) among the top performers.
Despite the market rally, lingering uncertainty over future trade measures kept a lid on investor optimism. President Donald Trump said on Sunday that he would announce new tariff rates on imported semiconductors within the next week, adding to concerns over how companies will navigate supply chain disruptions.
“What we have is continued uncertainty and an inability for consumers, businesses, and investors to plan ahead or commit to long-term spending,” said Jed Ellerbroek, portfolio manager at Argent Capital Advisors in St. Louis.
Tech Stocks Rally, But Chips Lag
Technology stocks, particularly those heavily reliant on Chinese imports, responded positively to the tariff exemptions.
- Apple gained 2.2%
- Dell Technologies (DELL.N) rose 4%
- HP Inc. (HPQ.N) added 2.5%
However, semiconductor stocks showed limited upside.
- The Philadelphia Semiconductor Index (.SOX) rose just 0.3%
- Nvidia Corp. (NVDA.O), a top chipmaker, slipped 0.2%
Index Performance and Volatility
All three major U.S. stock indexes closed higher:
- The Dow Jones Industrial Average (.DJI) rose 312.08 points or 0.78% to 40,524.79
- The S&P 500 (.SPX) gained 42.61 points or 0.79% to 5,405.97
- The Nasdaq Composite (.IXIC) added 107.03 points or 0.64% to 16,831.48
Meanwhile, the CBOE Volatility Index (.VIX), Wall Street’s “fear gauge,” eased to 30.89, its lowest close since April 3.
Despite Monday’s gains, technical analysts pointed to a bearish signal in the form of a “death cross”—where the 50-day moving average falls below the 200-day average—suggesting a possible shift toward a longer-term downtrend. Historically, however, this pattern doesn’t always indicate significant declines.
The S&P 500 remains down about 8% year-to-date.
Earnings Season and Economic Caution
Investors are now looking to first-quarter earnings results for further direction. Though the market will be closed on Good Friday, several key corporate reports are expected this week.
“Everybody knows the future will look very different from the past, and management teams will be hesitant to offer much guidance,” said Ellerbroek.
On Monday, Goldman Sachs (GS.N) shares rose 1.9% after the bank posted better-than-expected Q1 earnings. Other major earnings expected this week include Netflix (NFLX.O) and UnitedHealth Group (UNH.N).
Shares of Pfizer (PFE.N) also gained 1% after the drugmaker announced it would discontinue development of an experimental weight-loss pill.
Market Breadth and Volume
On the Nasdaq:
- 3,266 stocks advanced, while 1,200 declined
- Advancers outnumbered decliners by a 2.72-to-1 ratio
- 43 stocks hit new highs, while 101 reached new lows
On the NYSE:
- Advancers beat decliners by a 4.4-to-1 margin
- 45 new highs and 65 new lows were recorded
Trading volume totaled 18.2 billion shares, slightly below the 20-day average of 18.7 billion.
