Despite the latest tariffs announced by US President Donald Trump, the US stock markets took a moderate upturn on Monday. The Dow Jones, calculated at 44,470 points, was 0.4 percent higher than on Friday, closing the trading day in New York. The broader S&P 500, with 6,066 points, registered a 0.7 percent gain and the technology-heavy Nasdaq, calculated at 21,757 points, rose by 1.2 percent.
While the tariff dispute seems to have already been fully priced in, some sectors also see opportunities. For instance, US Steel and Alcoa, which will be hit by the announced 25 percent tariff on all US imports of steel and aluminum, outperformed the market. Tech companies like Nvidia continued their rebound, having previously been affected by news of supposedly new and more effective AI technology in China, which had caused a temporary panic in the US tech sector two weeks prior.
The European common currency was slightly stronger on Monday evening, with one euro costing 1.0305 US dollars and one dollar being worth 0.9704 euros. Gold, meanwhile, profited significantly and continued its record-breaking run, with one ounce selling for 2,906 US dollars (90.67 euros per gram) at the end of the day.
Crude oil, on the other hand, experienced a notable increase, with a barrel of Brent crude oil costing 76.05 US dollars at around 22:00 German time, a 1.9 percent rise from the previous trading day’s close.