Tech Stocks Push Wall Street Up After Tariff Exemptions for Electronics

US stock markets moved higher on April 14, led by strong gains in technology giants' shares. The rally followed a government decision to temporarily exclude smartphones and computers from upcoming tariffs on Chinese imports, according to Reuters.

The two-month exemption was announced on Friday. U.S. Commerce Secretary Howard Lutnick said these items make up around 20% of Chinese imports to the U.S. However, tariffs on semiconductors are still expected later this week, with President Donald Trump likely to reveal the specific rates soon.

Also Read: Donald Trump Eases Tariff Pain: Electronics, Smartphones and Chips Exempted | Republic World

By late morning trading, the Dow Jones Industrial Average rose 416 points (1.04%) to 40,629. The S&P 500 climbed 72 points (1.34%) to 5,435, and the Nasdaq jumped 282 points (1.68%) to 17,006.

Tech stocks led the charge, with Apple shares rising 5.4%. Semiconductor stocks also performed well — the Philadelphia Semiconductor Index added 1.1%.

Analysts say exempting certain tech products could help companies like Apple avoid price hikes, easing cost pressures and supporting consumer demand for affordable gadgets. Still, the move highlights the ongoing uncertainty in trade relations between the U.S. and China.

Despite last week marking the S&P 500’s biggest weekly gain since November 2023, the index is still down 4.5% from where it was before the tariff announcement on April 2.

Other notable moves included Goldman Sachs, which rose 2.1% after reporting better-than-expected earnings for the first quarter. Shares of drugmakers like Eli Lilly and Viking Therapeutics also jumped after Pfizer said it would no longer pursue its own obesity treatment.

Across the market, advancing stocks far outpaced decliners on both the NYSE and Nasdaq. The S&P 500 set a new 52-week high, while the Nasdaq posted a mix of new highs and low