Market Update: Tech Stocks Surge

During Monday’s rally, seven notable stocks performed impressively, as reported by Dow Jones Market.

The group, known as Megacap Tech, includes Apple, Amazon, Tesla, Microsoft, Nvidia, Alphabet, and Meta Platforms. These companies collectively saw their market capitalization rise significantly, adding $1.85 trillion on April 9 after President Trump announced a suspension of “mutual tariffs” over 10% for a period of 90 days.

The Roundhill Magnificent Seven ETF, which provides exposure to this group of stocks, increased by 5.6%, reaching $50.58. This marks its highest close since February 28, though it remains down 13% from its record high on December 17.

Meanwhile, with most of China’s tariffs dropping to 30% over the next 90 days, Wall Street showed a preference for more volatile investments. The Invesco S&P 500 High Beta ETF enjoyed a rise of 5.4%, achieving its highest close since February 26 and its best performance since April 9.

On the flip side, bond yields climbed as traders shifted away from bonds. Consumer staples and utilities were among the S&P 500 sectors experiencing a decline during this time.