{"id":48884,"date":"2025-02-10T19:01:39","date_gmt":"2025-02-10T19:01:39","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-recap-tech-rebounds-steel-surges-amid-trumps-tariff-announcement\/48884\/"},"modified":"2025-02-10T19:01:39","modified_gmt":"2025-02-10T19:01:39","slug":"market-recap-tech-rebounds-steel-surges-amid-trumps-tariff-announcement","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-tech-rebounds-steel-surges-amid-trumps-tariff-announcement\/48884\/","title":{"rendered":"Market Recap: Tech Rebounds, Steel Surges Amid Trump&#8217;s Tariff Announcement"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-tech-rebounds-steel-surges-amid-trumps-tariff-announcement\/48884\/#Major_Indexes_Close_Higher_as_Tech_and_Steel_Sectors_Lead_Gains\" >Major Indexes Close Higher as Tech and Steel Sectors Lead Gains<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-tech-rebounds-steel-surges-amid-trumps-tariff-announcement\/48884\/#Tech_Sector_Bounces_Back\" >Tech Sector Bounces Back<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-tech-rebounds-steel-surges-amid-trumps-tariff-announcement\/48884\/#Steel_and_Aluminum_Stocks_Surge_on_Tariff_News\" >Steel and Aluminum Stocks Surge on Tariff News<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-tech-rebounds-steel-surges-amid-trumps-tariff-announcement\/48884\/#Energy_Sector_Gains_on_Rising_Oil_Prices\" >Energy Sector Gains on Rising Oil Prices<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-tech-rebounds-steel-surges-amid-trumps-tariff-announcement\/48884\/#Corporate_Earnings_in_Focus\" >Corporate Earnings in Focus<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-tech-rebounds-steel-surges-amid-trumps-tariff-announcement\/48884\/#Upcoming_Market_Events\" >Upcoming Market Events<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-tech-rebounds-steel-surges-amid-trumps-tariff-announcement\/48884\/#Market_Breadth_and_Investor_Sentiment\" >Market Breadth and Investor Sentiment<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-tech-rebounds-steel-surges-amid-trumps-tariff-announcement\/48884\/#International_Markets_and_Currency_Movements\" >International Markets and Currency Movements<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-tech-rebounds-steel-surges-amid-trumps-tariff-announcement\/48884\/#Looking_Ahead\" >Looking Ahead<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Major_Indexes_Close_Higher_as_Tech_and_Steel_Sectors_Lead_Gains\"><\/span>Major Indexes Close Higher as Tech and Steel Sectors Lead Gains<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On Monday, February 10, 2025, U.S. stock markets rallied, with major indexes closing in positive territory. The <b><a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&#038;P 500<\/a> (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=SPX\">SPX<\/a>)<\/b> gained 0.64% to close at 6,064.57, while the <b><a href=\"https:\/\/stockmarketwatch.com\/indices\/dowjones\/today\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=DJI\">DJI<\/a>)<\/b> rose 0.16% to 44,374.63. The <b>Nasdaq Composite (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=IXIC\">IXIC<\/a>)<\/b> outperformed, climbing 1.16% to 19,750.35, driven by a strong rebound in technology stocks.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tech_Sector_Bounces_Back\"><\/span>Tech Sector Bounces Back<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>After a steep decline last week, heavyweight technology stocks staged a comeback. <b>Nvidia (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=NVDA\">NVDA<\/a>)<\/b> led the charge with a 3.2% gain, while <b>Microsoft (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MSFT\">MSFT<\/a>)<\/b> and <b>Alphabet (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=GOOGL\">GOOGL<\/a>)<\/b> each climbed more than 1%. The tech sector&#8217;s resilience was attributed to ongoing investor interest in AI-related stocks, despite recent challenges posed by the emergence of cheaper AI models from competitors like Chinese startup DeepSeek.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Steel_and_Aluminum_Stocks_Surge_on_Tariff_News\"><\/span>Steel and Aluminum Stocks Surge on Tariff News<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>President Donald Trump&#8217;s announcement of new tariffs on steel and aluminum imports sparked a rally in U.S. steel and aluminum producers. The <b>VanEck Steel ETF (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=SLX\">SLX<\/a>)<\/b> jumped 2.6%, with individual stocks posting significant gains. <b>Cleveland-Cliffs (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=CLF\">CLF<\/a>)<\/b> surged 11.7%, <b>U.S. Steel (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=X\">X<\/a>)<\/b> advanced 4%, and aluminum producer <b>Alcoa (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AA\">AA<\/a>)<\/b> rose 2.3%. The proposed 25% tariff on all steel and aluminum imports is expected to provide a boost to domestic producers.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Energy_Sector_Gains_on_Rising_Oil_Prices\"><\/span>Energy Sector Gains on Rising Oil Prices<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Energy stocks in the S&#038;P 500 sector (.SPNY) climbed 1.7%, tracking elevated oil prices. This uptick in the energy sector contributed to the overall positive performance of the market.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Corporate_Earnings_in_Focus\"><\/span>Corporate Earnings in Focus<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Earnings reports continued to influence individual stock movements. <b>McDonald&#8217;s (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MCD\">MCD<\/a>)<\/b> shares jumped 5.1% after the fast-food giant reported a surprise increase in global comparable sales for the fourth quarter. <b>Rockwell Automation (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=ROK\">ROK<\/a>)<\/b> also impressed investors, gaining 11.1% following better-than-expected first-quarter profits.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Upcoming_Market_Events\"><\/span>Upcoming Market Events<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Investors are keeping a close eye on several key events this week:<\/p>\n<p>1. Federal Reserve Chair Jerome Powell is scheduled to testify before Congress, which could provide insights into the central bank&#8217;s monetary policy outlook.<\/p>\n<p>2. The January Consumer Price Index (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=CPI\">CPI<\/a>) report is set to be released on Wednesday morning, offering crucial data on inflation trends.<\/p>\n<p>3. Several prominent companies are slated to report earnings, including <b>Coca-Cola (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=KO\">KO<\/a>)<\/b>, <b>DoorDash (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=DASH\">DASH<\/a>)<\/b>, <b>CVS Health (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=CVS\">CVS<\/a>)<\/b>, and <b>Cisco (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=CSCO\">CSCO<\/a>)<\/b>.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Market_Breadth_and_Investor_Sentiment\"><\/span>Market Breadth and Investor Sentiment<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Market breadth was decidedly positive, with advancing issues outnumbering decliners by a 1.82-to-1 ratio on the <a href=\"https:\/\/stockmarketwatch.com\/exchanges\/nyse\/today\" data-internallinksmanager029f6b8e52c=\"2\" title=\"NYSE Today\">NYSE<\/a> and a 1.19-to-1 ratio on the Nasdaq. The S&#038;P 500 posted 12 new 52-week highs and 13 new lows, while the Nasdaq Composite recorded 70 new highs and 135 new lows.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"International_Markets_and_Currency_Movements\"><\/span>International Markets and Currency Movements<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In currency markets, the U.S. dollar strengthened against major peers, including the yen, euro, and Canadian dollar, following President Trump&#8217;s tariff announcement. This move reflects investors&#8217; perception of potential trade tensions and their impact on global economic growth.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Looking_Ahead\"><\/span>Looking Ahead<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As the week progresses, market participants will closely monitor the developments surrounding the proposed tariffs, upcoming earnings reports, and key economic data releases. The testimony of Fed Chair Powell and the CPI report will be particularly crucial in shaping expectations for future interest rate decisions and overall market direction.<\/p>\n<p>In conclusion, Monday&#8217;s market performance demonstrated resilience in the face of potential trade disruptions, with technology and steel sectors leading the gains. However, investors remain cautious as they await further clarity on both domestic and international economic policies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Major Indexes Close Higher as Tech and Steel Sectors Lead Gains On Monday, February 10, 2025, U.S. stock markets rallied, 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