On April 9, 2025, U.S. stock markets erupted in a historic rally, with the Nasdaq delivering its most explosive performance since 2001. The rally came after President Donald Trump unexpectedly announced a 90-day suspension of planned tariff hikes on imports from most countries, with the notable exception of China, which will now face a steep 125% tariff on U.S.-bound goods.
The move, seen as a temporary easing of global trade tensions, sparked a massive rebound across equities. The Nasdaq 100 (QQQ) surged 12%, while the S&P 500 (SPY) jumped about 10%, its biggest gain since 2008. The Dow Jones Industrial Average (DJIA) climbed more than 3,000 points, closing up nearly 7% as investor sentiment flipped overnight.
Tech Stocks Lead the Charge
Technology giants, especially those battered in recent sell-offs, led the explosive gains. Apple (AAPL) surged 15%, regaining over $260 billion in market capitalization. Meta (META) jumped 15%, while Nvidia (NVDA) spiked 18%, riding investor optimism around AI demand and supply chain relief.
Meanwhile, Amazon (AMZN) and Microsoft (MSFT), each advanced more than 10%, contributing to a stunning recovery for the tech sector. Altogether, the “Magnificent Seven” tech companies added nearly over $1.8 trillion in market cap, erasing much of the losses from previous weeks.
Wall Street Cheers as Tariff Pause Boosts Market Confidence
Trump’s tariff pause not only boosted stocks but also sparked a rally throughout the entire market. The WSJ Dollar Index briefly popped after the news but still ended the day slightly lower, showing some investors remain cautious. Gold had its best day since 2023, jumping to around $3,100 a troy ounce, as some traders stayed defensive. At the same time, U.S. crude futures surged over 4%, closing at $62.35 a barrel, helped by renewed hopes for global demand.
The economic outlook also got an upgrade. Goldman Sachs scrapped its earlier recession forecast, saying the delay in tariffs could help keep growth on track, at least for now. Meanwhile, Japan’s top currency official promised to work with global partners to keep financial markets stable.
Which Magnificent Seven Stocks Offer the Most Upside?
Using the TipRanks’ Stock Comparison Tool for Magnificent 7 Stocks, analysts see the greatest upside in NVDA stock forecast, projecting a potential gain of almost 53%. Amazon follows with a forecasted 38% upside. Despite a neutral outlook on Tesla, analysts still expect 13% growth, largely driven by the stock’s recent slump.
Currently, Nvidia, Microsoft, Amazon, and Meta Platforms score Wall Street’s “Strong Buy” consensus rating, with NVDA stock offering the highest upside potential.
