Tech Stocks Rally on Tariff Relief While Dow Stumbles—S&P 500 Climbs

Wall Street’s tech sector catches a break as trade tensions ease—because nothing says ’economic stability’ like politicians flip-flopping on tariffs.

The S&P 500 rides the wave while the Dow fumbles, proving once again that old-school industrials can’t keep up with silicon-powered momentum.

Another day, another reminder that the market runs on hopium and spreadsheet magic.

Positive China news

Markets continued to respond positively to a weekend agreement between the U.S. and China to reduce tariffs temporarily. 

The U.S. lowered tariffs on Chinese goods to 30%, while China reduced duties on U.S. imports to 10%. The S&P 500, which had been in negative territory for the year, has now turned positive and is up more than 21% from its April low.

However, analysts caution that the rally may pause without further policy action. “The next leg higher will have to wait for policy initiatives that could provide tailwinds into 2026,” said Daniel Skelly of Morgan Stanley, according to CNBC

In individual movers, eToro jumped nearly 29% in its Nasdaq debut. Super Micro Computer surged 17%, building on earlier gains tied to a $20 billion Saudi data center deal. Boeing shares rose 2% after announcing a $96 billion aircraft sale to Qatar Airways.

Meanwhile, Tesla’s recent rally showed signs of overheating. S3 Partners flagged technical indicators suggesting near-term price pressure.