Stock markets around the world rose on Thursday, appearing to shrug off the start of steeper U.S. tariffs on dozens of countries.
Major indexes in Asia and Europe posted gains. Futures on the S&P 500, which allow investors to bet on the index before the official start of trading in the U.S. climbed 0.6 percent.
The premarket rise in the S&P 500 on Thursday came after President Trump offered some exemptions from his proposed tariffs on chip imports to companies that make their products in the U.S. Potential peace talks between Russia and the U.S. also buoyed market sentiment on Thursday.
Apple, which because of its size has a big impact on the overall performance of the S&P 500, rose roughly 3 percent in premarket trading, adding to a gain of 5 percent on Wednesday after the company announced a large investment in domestic manufacturing. Shares in TSMC and Samsung, which also have large U.S. manufacturing hubs, also rose.
Many investors have come to see potential periods of market volatility — like the tariff rollout — as a buying opportunity, expecting the administration to adjust its policy position to soothe the market. When tariffs were first announced in April, they prompted a sharp sell-off across stocks and bonds before the administration stepped back from its plans.
“After a four-month delay, President Trump’s ‘Liberation Day’ tariffs have been put into effect,” analysts at TD Securities noted, adding that “while the temptation now is to adjust to the new tariff order and move on, it’s not clear that things will be static for long.”
Joe Rennison writes about financial markets, a beat that ranges from chronicling the vagaries of the stock market to explaining the often-inscrutable trading decisions of Wall Street insiders.
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