Friday Trump Levy News Still Drives the Markets – Europe Market Wrap

Stocks rose, powered by a rally in tech stocks, after President Donald Trump signaled a carve-out of trade levies on some consumer electronics, fueling speculation that they might avoid the worst of the tariff hit.

S&P 500 futures added 1.4% and European stocks jumped more than 2%. Apple Inc. gained about 5% in premarket trading. US bonds retraced some of last week’s losses, pushing 10 year yields down to 4.43%. Gold slipped and oil climbed. The dollar fell for a fifth day as Trump warned that a specific levy for electronics will be announced later.

The late-Friday reprieve – exempting a range of popular electronics from the 145% tariffs on China and a 10% flat rate around the globe – is temporary and a part of the longstanding plan to apply a different, specific levy to the sector, the White House said. Still, a pause in the duties indicates a willingness by Trump to compromise on a deal, according to some analysts.