S&P 500 ends sharply higher; Nvidia and Tesla rally

Record ID: 1985615

  • Title: S&P 500 ends sharply higher; Nvidia and Tesla rally
  • Date: 24th March 2025
  • Summary: MELVILLE, NEW YORK, UNITED STATES (MARCH 24, 2025) (REUTERS) (SOUNDBITE) (English) CHIEF EXECUTIVE OFFICER & MANAGING DIRECTOR AT THE WEALTH ALLIANCE, ROBERT CONZO, SAYING: "Once again, more discussion about tariffs, maybe we'll pull some back, maybe some will be temporary. Maybe, maybe, maybe, maybe, maybe. This is starting to become a little bit of an old story with
  • Embargoed:
  • Keywords: Trump Wall Street tariffs tech
  • Location: VARIOUS
  • City: VARIOUS
  • Country: US
  • Topics: Economic Events,North America,Equities Markets
  • Reuters ID: LVA002135524032025RP1
  • Aspect Ratio: 16:9
  • Story Text: The S&P 500 rose sharply to end at its highest in over two weeks on Monday (March 24), lifted by Nvidia and Tesla following signs that the Trump administration might take a more measured approach on tariffs against U.S. trading partners.
    U.S. President Donald Trump had anticipated applying broad levies starting on April 2 but a set of sector-specific tariffs is now likely to be excluded, according to media reports over the weekend citing administration officials.
    A Trump administration official on Monday cautioned that the situation was fluid and no final decisions had been made.
    Investors scooped up battered technology shares, with Nvidia and Advanced Micro Devices both rallying. Tesla surged, recovering some of its recent steep decline, helped by optimism about scaled back U.S. tariffs.
    Financial markets have been volatile in recent weeks due to fears of inflation and an economic downturn after Trump announced a series of tariffs last month on major U.S. trading partners, including China, Mexico and Canada.
    The S&P 500 has recovered about 4% from its recent low on March 13, and it remains down around 6% from its February 19 record high close.
    Several companies have cited tariff uncertainty as they lowered their forecasts for upcoming quarters. Data compiled by LSEG as of Friday showed earnings of companies in the S&P 500 are expected to grow by 10.5% in 2025, down by 3.5 percentage points since the beginning of the year.
    The S&P 500 gained 100.01 points, or 1.76%, to end at 5,767.57 points, while the Nasdaq Composite gained 404.54 points, or 2.27%, to 18,188.59. The Dow Jones Industrial Average rose 597.97 points, or 1.42%, to 42,583.32.
    (Production: Lisa Bernhard, Roselle Chen)
  • Copyright Holder: REUTERS
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