US stock market buoyed amid some relief from Trump's tariffs

During Asian trading session this morning, contracts tied to US stock indices rose on the Donald Trump administration's decision to provide some relief for the electronics sector and exempt its goods from new import tariffs.

Wall Street also saw positive momentum on Friday, driven by positive rhetoric from the Federal Reserve (Fed) and the release of upbeat bank earnings data for Q1. Those factors helped ease concerns regarding rapidly escalating trade tensions between the world's largest economies. 

This week, market attention will be focused on the release of new key earnings figures and statements from Fed Chairman Jerome Powell. Any comments and decisions on Trump's tariffs will also receive intense attention. Earlier, the US President said he would provide more details on his plans on Monday.

Despite the US administration's stated intention to impose separate tariffs on the electronics sector in the coming months, the exclusion of electronics from the 145% tariffs provides some respite for major technology companies. According to the White House, the decision will give them time to move their production to the US.