Stock futures rose Monday as a surprise U.S. tariff exemption from President Donald Trump gave tech names a lift to start the week. Futures tied to the Dow Jones Industrial Average climbed 447 points, or 1.1%. SP 500 futures gained 1.6%, while Nasdaq-100 futures moved 2% higher. Trump exempted sma rtphones and computers as well as other devices and components like semiconductors from his new “reciprocal” tariffs, according to new U.S. Customs and Border Protection guidance issued late Friday. Apple shares popped more than 5% in the premarket on the news, while Nvidia gained more than 3%. The Technology Select Sector SPDR Fund (XLK) added more than 2% before the bell. However, those advances may be held in check after Trump and his Commerce secretary, Howard Lutnick, then suggested Sunday that the exemptions aren’t permanent, stirring up more tariff uncertainty. Trump said in a Truth Social post that these products are still “subject to the existing 20% Fentanyl Tariffs, and they are just moving to a different Tariff ‘bucket.'” The developments come as shares of the “Magnificent Seven” have come under pressure in the wake of the president’s “liberation day” tariff announcement earlier this month. The CNBC Magnificent 7 Index has declined about 5% since then. Apple has notably been among the hardest hit names, as the iPhone maker lost nearly $640 billion in market cap in the three trading days following the announcement. Last week marked one of the most volatile trading weeks on record for the Street. The CBOE Volatility Index spiked above 50 on Thursday, with stocks giving up some of their historic gains seen a day earlier. On Wednesday, the market soared after Trump announced a 90-day reprieve for a number of his new tariff rates, seeing its third-biggest one-day gain since World War II. “The mid-week delay on some non-China tariffs, along with solid banks earnings and optimism about Fed intervention (should it be needed) at the end of the week helped fuel the gains in US equities, with some also attributing Wednesday’s bounce to short covering,” said Lori Calvasina, head of U.S. equity strategy at RBC Capital Markets. “For the moment, this seems to have offset the concerns that emerged about the bond market and recession worries.” Despite last week’s rally, all three major averages are still down sharply since the so-called reciprocal tariffs were announced. The SP 500 has dropped 5.4%, while the Nasdaq Composite and Dow Jones Industrial Average have fallen about 5% and 4.8%, respectively. Stocks making the biggest moves premarket Monday Check out the companies making headlines before the bell: Goldman Sachs — The investment bank gained nearly 2% after reporting a top- and bottom-line beat in the first quarter. Goldman Sachs posted earnings of $14.12 per share while analysts had called for $12.35, according to LSEG. Revenue of $15.06 billion also beat consensus expectations for $14.81 billion. Pfizer — Shares were down slightly in the premarket after the company said it would halt development of its daily weight loss pill. This comes after a patient experienced a liver injury possibly caused by the drug during a trial.Apple — The iPhone maker popped more than 5% Monday morning after President Donald Trump announced smartphones, among other electronics, would be exempt from reciprocal tariffs, at least temporarily. The full list can be found here. — Hakyung Kim Goldman Sachs rises after earnings beat Goldman Sachs shares popped nearly 3% in Monday’s premarket after first-quarter earnings topped expectations. The bank earned $14.12 per share on $15.06 billion in revenue. Analysts polled by LSEG forecasted $12.35 earned per share and $14.81 billion in revenue. Goldman shares have tumbled more than 13% in 2025. — Alex Harring, Hugh Son Pfizer falls after ending development of daily weight loss pill Pfizer shares were down more than 1% in the premarket after the company said it would halt development of its daily weight loss pill. This comes after a patient experienced a liver injury possibly caused by the drug during a trial. “While we are disappointed to discontinue the development of danuglipron, we remain committed to evaluating and advancing promising programs in an effort to bring innovative new medicines to patients,” Dr. Chris Boshoff, Pfizer’s chief scientific officer, said in the release. — Fred Imbert, Annika Kim Constantino Hong Kong shares rise over 2% to lead gains in Asia after Trump pauses tariffs on consumer electronics Asia-Pacific markets climbed Monday as U.S. President Donald Trump paused tariffs on some consumer electronics, boosting risk sentiment. Hong Kong stocks led gains in the region, with the Hang Seng Index ending the day 2.4% higher at 21,417.40 to and Hang Seng Tech Index moving up 2.34% to 5,015.12. Mainland China’s CSI 300 rose 0.23% to close at 3,759.14. Japan’s benchmark Nikkei 225 ended the day 1.18% higher at 33,982.36, while the broader Topix index rose 0.88% to 2,488.51. In South Korea, the Kospi index added 0.95% to close at 2,455.89, while the small-cap Kosdaq advanced 1.92% to 708.98. Meanwhile, Australia’s SP/ASX 200 increased 1.34% to close at 7,748.60. Indian markets were closed for a public holiday. — Amala Balakrishner There’s still ‘mass uncertainty’ despite Trump tariff exemption being ‘right move,’ according to Dan Ives While the Trump administration’s move to exempt smartphones, computers and semiconductors, among other electronic devices and components, from “reciprocal” tariffs may have been a win for Big Tech, the market could still be facing “mass uncertainty” around the president’s tariff policy, says Wedbush analyst Dan Ives. “The White House made the right move in our view as tech leaders and the overall tech industry knew that if these tariffs went into effect it would essentially be a shut off valve for getting products to the US consumers,” Ives wrote in a note dated Sunday. “[B]ut still there is mass uncertainty, chaos, and confusion about the next steps ahead with all focus on China tariff negotiations being front and center and any progress on this game of high stakes poker between Beijing and DC being crucial to the markets and the economy this week,” he continued. — Sean Conlon Trump tariff exemptions are ‘dream scenario for tech investors,’ Ives says Scott Mlyn | CNBCDaniel Ives, Wedbush Securities Dan Ives, global head of technology research at Wedbush Securities, called the tariff exemptions “the dream scenario for tech investors.” “Smartphones, chips being excluded is a game changer scenario when it comes to China tariffs,” Ives told CNBC on Saturday. He said that “no sector was going to be more hurt than big tech” from Trump’s reciprocal tariffs. “I think ultimately big tech CEOs spoke loudly, and the White House had to understand and listen to the situation that this would have been Armageddon for big tech if were implemented,” Ives said. — Erin Doherty, Hakyung Kim Stocks saw gains last week Stocks are coming off a positive week despite their wild ride amid the Trump administration’s tariff developments. The SP 500 gained 5.70%, its best weekly performance since Nov. 3, 2023, when it gained 5.85%, and first positive week in three.The Dow Jones Industrial Average jumped 4.95%, its best weekly performance since Nov. 3, 2023, when it gained 5.07%.The Nasdaq Composite rose 7.29%, its best weekly performance since Nov. 11, 2022, when it gained 8.10%, and first positive week in three.The Russell 2000 advanced 1.82%, its best weekly performance since Jan. 17, 2025, when it gained 3.96%, and first positive week in three. — Sean Conlon, Christopher Hayes Stock futures open higher after volatile week Stock futures opened in the green on Sunday evening. Shortly after 6 p.m. ET, SP 500 futures traded up 0.9%, and Nasdaq-100 futures advanced more than 1%. Futures tied to the Dow Jones Industrial Average gained 251 points, or 0.6%. — Sean Conlon ...read more read less