Tech Stocks Bounce Back Amidst Trump's Tariff Suspension

President Trump has called off scheduled tariffs on European allies, sparking a rally in stocks such as Nvidia and AMD, leading to a 1.5% gain in the Nasdaq Composite and the S&P 500 erasing its losses. MillerKnoll, Super Micro, Cogent, Avnet, and Cognex stocks jumped between 3.3% and 3.7%. The administration's decision provided relief to the market, with the 10-year Treasury yield retreating from its highs and a more favorable backdrop for equity valuations.