LIVE MARKETS-US stocks rally out of the gate as tech gains on tariff reprieve

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U.S. STOCKS RALLY OUT OF THE GATE AS TECH GAINS ON TARIFF REPRIEVE

Major U.S. indexes are sharply higher in the early stages of trading on Monday, with the S&P 500 .SPX and Nasdaq .IXIC both registering gains of more than 1%, powered by Apple AAPL.O and other tech names after the latest tariff adjustment by the Trump administration.

Trump on Sunday announced exemptions on tariffs for smartphones, computers and other electronics imported largely from China. However, Trump also said he would be announcing the tariff rate on imported semiconductors over the next week, adding that there would be flexibility with some companies in the sector.

"While near-term volatility is likely to persist, we think the recovery in tech shares should continue amid a broad US stock rally as incremental news flow Improves. For under-allocated investors, we think structured strategies can be useful in building up long-term exposure," said Ulrike Hoffmann-Burchardi, CIO of Global Equities at UBS Global Wealth Management in a note to clients.

All 11 major S&P 500 sectors are higher, led by tech .SPLRCT, with a gain of nearly 2%. Apple is up more than 4% as the biggest boost to the benchmark S&P index, followed by Nvidia NVDA.O, Microsoft MSFT.O and Alphabet GOOGL.O.

Below is your market snapshot:

(Chuck Mikolajczak)

FOR MONDAY'S EARLIER LIVE MARKETS POSTS:

S&P 500 INDEX POISED TO BOUNCE, BUT DEATH CROSS LOOMS - CLICK HERE

DOLLAR WEAKNESS CATCHES SOME OFF GUARD - CLICK HERE

ARE WE OUT OF THE WOODS? - CLICK HERE

EUROPEAN SOFTWARE: A SECTOR IN LIMBO - CLICK HERE

BROAD GAINS LIFT THE STOXX - CLICK HERE

BEFORE THE BELL: TECH CHARGES UP, LVMH KICKS OFF EARNINGS - CLICK HERE

DOING THE TARIFF TWO-STEP - CLICK HERE