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Any day with a Trump Pivot is a good day for the stock market. Shares of automakers closed higher today after President Donald Trump said he is looking to "help some of the car companies" with his 25% auto tariff (chart). The automakers "need a little bit of time" to move their production to the US, Trump said.
Tech stocks rose too after guidance on Friday from US Customs and Border Protection revealed exemptions from "reciprocal" tariffs for electronic products such as smartphones, computers, and semiconductors. The stocks were up even though President Trump and Commerce Secretary Howard Lutnick on Sunday suggested these exemptions might be only temporary (chart).
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