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Despite the optimism, President Donald Trump warned in a Truth Social post on Sunday that tech-related tariff exemptions will be short-lived.

Apple stock was upgraded by KeyBanc after smartphones, computers, and other electronics were exempted from President Donald Trump's "reciprocal" tariffs.

Digital infrastructure provider Applied Digital (NASDAQ:APLD) fell short of the market’s revenue expectations in Q1 CY2025, but sales rose 22.1% year on year to $52.92 million. Its non-GAAP loss of $0.08 per share was 22% above analysts’ consensus estimates.

The Dow Jones industrial average increased 312 points, or 0.78%, the S&P 500 added 0.79%, and the Nasdaq picked up 0.64%.

The BlackRock Investment Institute said on Monday that it is taking a modestly more bullish stance on U.S. stocks following the announcement of a 90-day pause in implementing most U.S. tariffs. The near-term risk of a "financial accident" has eased following the Trump administration's decision to pause of hefty tariffs on most countries, according to a report from the research arm of asset management giant BlackRock.

Shares of U.S. automakers jumped on Monday amid speculation the companies could receive some relief from President Trump’s 25% auto tariffs.

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