United States stocks climbed on Monday (Tuesday AEDT), led by gains in major technology names, as investors shrugged off fresh tariff concerns.
The Dow Jones Industrial Average rose 167 points or 0.4% to close at 44,470.4, driven by a 4.8% surge in McDonald’s shares. The S&P 500 gained 0.7% to finish at 6,066.4, while the Nasdaq Composite outperformed with a 1% increase, closing at 19,714.3.
Semiconductor stocks advanced as investor sentiment improved following last month’s sell-off driven by concerns over the rise of Chinese AI firm DeepSeek.
Nvidia rose 2.9%, while Broadcom and Micron climbed 4.5% and 3.9%, respectively.
Major tech behemoths also lifted, with Microsoft, Amazon, and Meta Platforms gaining 0.6%, 1.7%, and 0.4%, respectively.
Trump stated on Sunday that he plans to impose a 25% tariff on all steel and aluminum imports, along with retaliatory duties on countries taxing U.S. goods. However, he did not provide a timeline for implementation.
Despite concerns, steel and aluminum stocks surged. U.S. Steel and Nucor gained 4.8% and 5.6%, respectively, while Alcoa ended the session up 2.2%.
Investors remain cautious amid inflation worries and tariff risks, but optimism in risk assets persists.
Markets now turn their focus to key economic data releases this week including the January consumer price index (CPI) and producer price index (PPI) reports, as well as weekly jobless claims data.
Additionally, Federal Reserve Chair Jerome Powell will testify before Congress on Tuesday morning.
On the bond markets, 10-year and 2-year yields were at 4.497% and 4.279%, respectively.
