The Magnificent 7 stocks just had a monster day. Together, they tacked on more than $1.5 trillion in market cap after President Donald Trump announced a 90-day break on reciprocal tariffs. Tesla (NASDAQ:TSLA) led the pack, soaring 22.7%. Nvidia (NASDAQ:NVDA) wasn't far behind with an 18.7% jump.
Apple (NASDAQ:AAPL) also rallied 15.3%, even though it wasn't directly helpedTrump kept the 125% tariff on Chinese imports in place, which affects Apple heavily. Treasury Secretary Scott Bessent's message after the announcement was clear: "Don't hit back, and you'll get something in return." That seemed aimed squarely at China.
Markets, which had been bleeding for days, finally caught a breather. Hopes for progress on trade pushed major indexes sharply higher. The S&P 500 (SPX) rose 9.5%, the Dow (DJIA) gained nearly 8%, and the Nasdaq (NDX) surged more than 12%.
This pause gives companies some space to rethink their spending. Big tech was all-in on AI and data center infrastructure just weeks ago, but the tariff threat had them second-guessing those bets. Now? They might push forward again, though uncertainty remains.
Alphabet (NASDAQ:GOOG), for one, isn't hitting the brakes. The Google parent confirmed it's sticking with its $75 billion investment plan for Fiscal 2025.
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