Global technology stocks rose on Monday after the U.S. exempted electronics such as smartphones and computer hardware from its steep reciprocal tariffs on China, offering some relief to a sector battered by supply-chain uncertainty.

Stocks are rallying worldwide Monday after President Donald Trump relaxed some of his tariffs, for now at least. The S&P 500 was 1.5% higher in early trading. It s coming off a chaotic week where it careened through historic swings as financial markets struggled to catch up with Trump s moves on tariffs, which investors fear could lead to a recession if not reduced.

Markets surged Friday after Donald Trump paused tariffs on nations excluding China, lifting sentiment across sectors. Sensex jumped 1,310 points, and Nifty gained 429, led by BFSI and auto stocks. Resistance remains near 23,000, says LKP Securities.

An unidentified options trader s multi-million dollar bet on a short-term rebound in Apple Inc. s shares was set to reap a sizable profit as the iPhone-maker s shares soared on Monday following the Trump administration s weekend move to grant tariff exclusions for smartphones.

Apple took the top spot for global smartphone sales in the first quarter on the back of the iPhone 16e s launch and strong demand in countries such as Japan and India, data from Counterpoint Research showed on Monday.

Azadea Group, operator of Zara and Virgin Megastore in the Middle East, has delayed its IPO plans to prioritize business growth and regional expansion, unrelated to market volatility. Dubai Holding, a minority stakeholder, valued Azadea above $1 billion in 2018.

The dollar turned higher against the Japanese yen and euro on Monday after a bruising week last week sent it to a three-year low against the single currency but also left it oversold by some technical metrics.

State Bank of India has decreased interest rates on its 444-day special fixed deposit plan by 20 basis points, setting the rate at 7.05%. This decision follows the central bank s reduction of policy rates. Simultaneously, SBI has lowered interest rates on loans linked to external benchmarks by 25 basis points, effective April 15, reflecting improved liquidity in the banking system.

Intel will sell a 51% stake in its Altera programmable chip business to Silver Lake for $4.46 billion. This move, under new CEO Lip-Bu Tan, aims to revive Intel by streamlining operations and focusing on core businesses. The deal values Altera at $8.75 billion, significantly less than Intel s 2015 acquisition price. Raghib Hussain will become Altera CEO on May 5.

Indian markets, buoyed by a pause on Trump s tariffs, face a week packed with influences. Key factors include the US-China trade situation, Wall Street s performance, and Q4FY25 earnings from major companies like Wipro and HDFC Bank.