The Dow Jones Industrial Average and other major stock indexes jumped Monday as Wall Street cheered on yet more developments in the saga involving President Donald Trump's tariffs. Three early winners were Apple, Nvidia and Tesla.
After the opening bell, the Dow Jones Industrial Average surged as much as 500 points before paring gains to 400 points, or 0.9%. The S&P 500 gained 1.2%, while the tech-heavy Nasdaq composite advanced 1.3%.
The 10-year Treasury yield ticked lower to 4.43% early Monday. And oil prices rose, as West Texas Intermediate futures traded near $62.30 per barrel.
Among exchange traded funds, the Invesco QQQ Trust jumped 1.3%, while the SPDR S&P 500 ETF climbed 1.2% after the open.
Tesla stock moved 0.7% higher Monday, looking to snap a two-day losing streak. Shares of the Elon Musk-led company remain around 48% off their record high of 488.54, reached on Dec. 18.
Nvidia stock jumped 0.8% in Monday's trading, on pace to add to Friday's 3.1% gain. The artificial intelligence giant is approaching its 50-day and 200-day moving averages, which are key levels to watch.
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Trump Tariff News
And iPhone maker Apple surged 4.5% Monday morning. Its shares had rallied 4.1% Friday, rebounding from their lowest level since May.
Late Friday, President Trump exempted Apple products, including the iPhone from the additional 125% tariff on Chinese goods and 10% baseline levy on imports from other countries. Also exempt: Other smartphones, servers, memory chips, solar cells, flat panel TVs and many other tech goods that are often made in China.
However, Commerce Secretary Lutnick told ABC News on Sunday morning that the reprieve is temporary, with the electronics exemptions only on the "reciprocal" tariffs. Trump will impose sector tariffs on electronics and semiconductors in about a month, Lutnick said.
The fast-moving impact of Trump's tariffs on the economy may show up in the Empire State manufacturing survey, out Tuesday, and the Philly Fed survey on Thursday. The latest data shows that the tariffs have dented confidence but not necessarily economic activity, at least through March.
Retail sales, due Wednesday, are forecast to rise a strong 1.4% on the month, fueled by auto purchases before tariffs hit. Sales excluding autos and gas are seen rising a solid 0.5%.
In stocks, Goldman Sachs moved up 2.5% Monday after the company's better-than-expected results for the first quarter.
Meanwhile, Netflix and UnitedHealth Group headline this week's earnings reports. Johnson & Johnson, Travelers and American Express are also due to report.
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Dow Jones, Major Indexes Rebound
On Friday, blue chips on the Dow Jones Industrial Average rallied 1.6%. The S&P 500 advanced 1.8%, while the Nasdaq composite climbed 2.1%.
Due to current market volatility, now is an important time to read IBD's The Big Picture column for how to handle the current market and to track the updated exposure level.
Among the best companies to watch in the current stock market are Netflix, Ollie's Bargain Outlet, Spotify and TJX.
Along with Apple and Nvidia, Dow Jones components making notable moves this week were Amazon.com, Microsoft and UnitedHealth.
Check out IBD MarketSurge's "Breaking Out Today" list for top growth stocks that are moving above correct buy points. Check for potential breakouts on the "Near Pivot" list. To find additional stock ideas, check IBD Stock Lists like IBD 50, Big Cap 20 and Stocks Near A Buy Zone.
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Dow Jones Stocks: UnitedHealth Further Above Buy Point
Shares of Dow Jones component UnitedHealth dropped 1.5% Monday. The stock extended a win streak to four sessions Friday, moving further above a 553.91 buy point, according to MarketSurge chart analysis. A cup base is also forming that has a 630.73 entry.
Outside the Dow, streaming giant Netflix is building a double bottom that offers a 998.70 buy point. Shares climbed 1.8% after the opening bell Monday.
Ollie's Bargain Outlet found much-needed support at the 50-day line last week and is again trying to move above a 115.42 buy point in a double-bottom base. Shares added 1.5% Monday.
Music streaming leader Spotify has formed a double-bottom base with a 621.20 buy point. Spotify stock rose 3.6% Monday.
Finally, off-price retailer TJX is moving above a 127.58 buy point in a double bottom and the stock hit a new high Friday. TJX stock gained 0.6% in early morning trades.
Keep in mind that now is not a good time to buy stocks amid heavy selling in recent weeks. IBD currently recommends 0% to 20% stock exposure under current conditions.
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Stock Market: Companies To Watch
These are four stocks in or near buy zones in Monday's stock market, including a Dow Jones leader.
| Company Name | Symbol | Correct Buy Point | Type Of Buy Point |
|---|---|---|---|
| UnitedHealth | 553.91 | Double bottom | |
| Spotify | 621.20 | Cup with handle | |
| TJX | 127.58 | Double bottom | |
| Ollie's Bargain Outlet | 115.42 | Double bottom |
Source: IBD Data as of April 14
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Dow Jones Leaders: Amazon, Microsoft
Magnificent Seven stocks are rebounding from their lows after Trump's 90-day pause on tariffs. Dow Jones component Amazon reversed down 0.9% early Monday.
Finally, software giant Microsoft moved up 0.8% Monday. Shares reached a new 52-week low last week before rebounding back to their 50-day line, a key resistance level to watch.
Be sure to follow Scott Lehtonen on X at @IBD_SLehtonen for more on growth stocks, the Dow Jones Industrial Average and the stock market today.
