US stocks surged 0.5% higher as investors assessed the impact of recent tariff announcements from the White House. The minutes from the Federal Reserve’s last meeting showed that the Fed considers tariffs a threat to inflation, prompting them to hold off on cutting interest rates earlier in the year.
The latest move expanded tariffs on countries including the Philippines, Iraq, and Brazil, while also signaling higher levies on copper, semiconductors, and pharmaceutical goods. Despite this, technology stocks led the gains, with major companies like Nvidia, Broadcom, Alphabet, and Meta seeing a 2% increase each.
However, Apple fell by 1% following comments from trade counselor Navarro, who hinted at potential tariffs against the company.
Source: https://www.tradingview.com/news/te_news:469030:0-us-stocks-hover-firmly-higher-after-fomc