US markets rallied for a second straight session on Monday after Trump told the press he may grant “a lot of countries” exemptions from reciprocal tariffs set to take effect on April 2nd. The remarks boosted risk sentiment, sending the Dow up 1.4%, while the S&P 500 climbed close to 2% and the Nasdaq gained over 2% by the close.
Overnight, Asian Pacific stock indices were less bullish. Hong Kong slumped 2%, the Shanghai Composite was unchanged, and other regional markets posted modest gains. In Europe, after a disappointing session yesterday where early gains were quickly sold into, stock indices are all firmer, playing catch-up with Wall Street’s rally last night.
Currency markets saw little movement overnight, with the dollar holding onto its recent gains. The yen continued to weaken, and the USDJPY is now approaching the 151.00 level as risk appetite gained traction. Traders remain cautious ahead of upcoming central bank commentary and some key economic data releases.
Gold and silver edged higher overnight, though the gains were modest. Gold continued to hold above $3,000, supported by underlying demand but lacking fresh momentum.
Oil has extended its rally, with front-month US Light now trading above $69, as it appears to have found a short-term base in the $65 region. If the current momentum holds, crude is on track for its fourth gain in five sessions, signalling renewed stability in the market.
Crypto prices pulled back after yesterday’s sharp rally, with Bitcoin retreating to $86,000 while Ether managed to hold above $2,000. The sector remains tied to broader risk sentiment, although profit-taking appears to be the dominant theme for now.
The VIX continued its decline, pulling back towards 18.00, falling quickly as risk-on sentiment gained traction. The days of sustained moves north of 20.00 seem like a distant memory, at least for now.
Plenty of Federal Reserve speakers are on tap today, which could provide further clarity on monetary policy expectations. Key data releases include:
Monday’s stock market surge reinforced the idea that Trump’s rhetoric still holds significant sway over market sentiment. His tariff flexibility remarks were enough to push markets higher, but with further trade actions already promised, the rally's sustainability remains a question.
Tesla’s 12% jump was one of the most eye-catching moves of the day—whether it signals a true recovery or just a dead cat bounce remains to be seen. Futures suggest a cautious open, but with sentiment shifting quickly, early moves may not dictate the entire session. It’s still early in the trading week, and as always, staying nimble will be key.
Customer support
Sponsors of your favourite teams
The legal stuff
Contract for differences are complex financial instruments that requires knowledge and understating as it involves a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This information is general advice only and does not take into consideration your objectives or financial means. Refer to our legal documents.
Trade Nation is a trading name of Trade Nation Financial UK Ltd, a financial services company registered in England & Wales under company number 07073413, is authorised and regulated by the Financial Conduct Authority under firm reference number 525164. Our registered office is 14 Bonhill Street, London, EC2A 4BX, United Kingdom.
Trade Nation is a trading name of Trade Nation Australia Pty Ltd, a financial services company registered in Australia under number ACN 158 065 635, is authorised and regulated by the Australian Securities and Investments Commission (ASIC), with licence number AFSL 422661. Our registered office is Level 17, 123 Pitt Street, Sydney, NSW 2000, Australia.
Trade Nation is a trading name of Trade Nation Ltd, a financial services company registered in the Bahamas under number 203493 B, is authorised and regulated by the Securities Commission of the Bahamas (SCB), with licence number SIA-F216. Our registered office is No. 3 Bayside Executive Park, West Bay Street & Blake Road, Nassau, New Providence, The Bahamas.
Trade Nation is a trading name of Trade Nation Financial Markets Ltd, a financial services company registered in the Seychelles under number 810589-1, is authorised and regulated by the Financial Services Authority of Seychelles (FSA) with licence number SD150. Our registered office is CT House, Office 6B, Providence, Mahe, Seychelles.
Trade Nation is a trading name of Trade Nation Financial (Pty) Ltd, a financial services company registered in South Africa under number 2018 / 418755 / 07, is authorised and regulated by the Financial Sector Conduct Authority (FSCA), with licence number 49846. Our registered office is 19 9th Street, Houghton Estate, Johannesburg, Gauteng, 2198 South Africa.
The information on this site is not directed at residents of the United States or any particular country outside the UK, Australia, South Africa, The Bahamas or Seychelles and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
