The S&P 500 index experienced a 1.5% surge due to a relief rally spurred by the Trump administration's exemption of certain technology sectors from retaliatory tariffs. Major tech stocks like Dell Technologies and Intel saw significant gains, with Dell rising by 8%. Goldman Sachs also reported strong earnings but cautioned that the risk of a recession appears to be increasing. Despite the overall market positive sentiment, some stocks like DaVita and Humana saw declines following specific negative events, such as a ransomware attack.
The S&P 500 gained 1.5% today, led by technology stocks benefiting from a tariff exemption, boosting overall market sentiment.
Goldman Sachs CEO David Solomon emphasizes that despite a strong quarterly performance, the risk of an economic recession is looming.
Dell Technologies surged up to 8% following the exemption from tariffs, highlighting investor optimism despite its stock trading below previous highs.
Market movers included Intel and Palantir, contributing to the S&P 500's gains, while DaVita experienced a decline due to a ransomware attack.
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