Premarket: Global stocks rally as electronics get a tariff break

News Snapshot:

Major stock indexes bounced in Europe and Asia on Monday after the White House exempted smartphones and computers from “reciprocal” U.S. tariffs, though gains were limited as President Donald Trump warned levies were still likely. Indeed, Trump on Sunday told reporters tariffs on semiconductors would be announced over the next week and a decision on phones made “soon.” On the face of it, the exemption of 20 product types accounting for 23% of U.S. imports from China was a boon to manufacturers. However, the uncertainty was still exerting downward pressure on the dollar and U.S. government bonds, and the off-again,...