
Stocks rose Wednesday, led by Apple’s jump. The S&P 500 gained 0.75% to 6,3456, the Nasdaq 100 rose 1.39% to 23,294, and the Dow Jones Industrial Average rose (0.15%) to 44,206.
President Donald Trump announced a 100% tariff on semiconductor imports, exempting companies manufacturing in the U.S. This sector-specific tariff escalates Trump’s push for domestic manufacturing. Details about qualifying for exemptions remain unclear.
Asia-Pacific markets mostly rose after Trump announced a 100% tariff on semiconductor imports, exempting U.S. manufacturers. Asian chip stocks traded mixed after U.S. tariff announcement. Japan’s Topix briefly reached an all-time high. Taiwan shares gained over 2%, led by tech
Apple CEO Tim Cook announced on Wednesday an additional $100 billion investment in U.S. companies and suppliers over the next four years. This commitment builds on Apple’s earlier $500 billion announcement in February and aims to encourage more U.S.-made components. Apple stock jumped more than 5% and drove the Nasdaq higher during yesterday’s session.
In the Forex market, the USD fell against major currencies. The decline is still mostly fueled by higher expectations of a rate cut in September following Friday’s disappointing job data. EURUSD rose 0.73% to 1.1659. GBPUSD was up 0.44% to 1.3356, and USDJPY fell 0.18% to 147.43 with lower volume.
Silver regained the $38.00 level again, thanks to a weaker dollar. The precious metal might find resistance at the yearly high of around $39.50 per ounce. Oil prices fell for the fifth straight day as OPEC+ announced another production hike for the month of September.
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