US indices close sharply higher on tariff optimism

The major indices are closing solidly higher on tariff optimism. Pres. Trump has implied that he may give a break on some of the tariffs. Honestly, he was all over the place, but the stock markets are getting used to it and after gapping higher, the gains were maintained and extended> The indices closed near highs for the day.

The final numbers are showing:

• Dow industrial average rose 597.97 points or 1.42% at 42583.32. There was the highest close going back to March 7
• S&P index rose 100.01 points or 1.76% at 5767.57. That was also the highest close going back to March 7
• NASDAQ index rose 404.54 points or 2.27% at 18188.59 for its highest close since March 7 as well
• Russell 2000 rose 52.39 points or 2.55% at 2109.37. That was the highest close since March 3.

Last week the broader S&P and NASDAQ indices snapped four week losing streaks with modest gains (thanks to the rally on Friday).

Looking at some of the big gainers today :

• Tesla rose 11.93%.
• Microstrategy rose 10.43%
• Applovin rose 8.18%
• United airlines rose 7.16%
• AMD rose 6.96%
• Palantir rose 5.34%

Looking at the magnificent 7 in addition to testers gain of 11.93%:

• Meta rose 3.79%
• Microsoft rose 0.47%
• Amazon rose 3.59%
• Alphabet rose 2.25%
• Apple rose 1.13%
• Nvidia rose 3.15%

This article was written by Greg Michalowski at www.forexlive.com.