US stocks rebound on tariff relief for tech, but Trump's warning creates uncertainty. Yen strengthens, and Gold remains firm. Our technical analysis covers key levels across major markets.
Stock indices climbed on tech tariff pause, JPY and Gold stayed firm
The major US stock indices closed higher last Friday, 11 April, on the backdrop of US trade tariff relief. The US White House announced that smartphones, computers, and semiconductors will be exempted from US President Trump’s 125% China tariff and his baseline 10% reciprocal global tariff on all other countries.
Global technology manufacturers, including mega-cap names like Apple and Nvidia, received a major reprieve, contributing to intraday gains of 1.8% and 1.9% in the S&P 500 and Nasdaq 100, respectively, on Friday.
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However, US President Trump warned on Sunday via a social media post that the tariffs exemption announced on Friday is temporary. Smartphones, semiconductors, and other consumer electronics products will still face duties under a different specific sectoral tariff regime to be announced soon.
Stock indices shrugged off the threat, with S&P 500 and Nasdaq 100 E-mini futures extending intraday gains of nearly 1% during today’s Asian session. Major regional benchmarks also rallied, as Japan’s Nikkei 225 rose 1.7% and Hong Kong’s Hang Seng Index climbed 2.1%.
