U.S. stock index futures climbed on Monday, boosted by news that President Donald Trump’s steep reciprocal tariffs on Chinese imports would temporarily exclude electronics. Despite the exemption, Trump signaled that further tariffs on the sector could be on the horizon.

As of 05:15 ET (09:15 GMT), Dow Jones Futures were up 385 points, or 1%, S&P 500 Futures gained 68 points, or 1.3%, and Nasdaq 100 Futures advanced 280 points, or 1.5%.

The gains follow Friday’s positive close on Wall Street, which ended a volatile week marked by sharp swings in response to shifting rhetoric and announcements surrounding Trump’s trade policy. Investor sentiment was also shaken by a bond market sell-off that challenged the traditional safe-haven status of U.S. Treasuries.

Electronics Get Temporary Tariff Relief

Optimism carried over into Monday’s session after the White House confirmed that key consumer electronics—including smartphones, computers, and other devices—would be temporarily exempt from Trump’s 145% tariffs on Chinese goods. Trump cautioned, however, that the reprieve is short-term and that a new tariff rate on imported semiconductors is expected within the next week.

The move brought relief to tech giants with significant exposure to China, such as Apple (NASDAQ: AAPL) and Tesla (NASDAQ: TSLA). According to the White House, the exemptions are intended to give companies time to transition manufacturing operations back to the U.S.

Earnings Season in Focus

Investor attention is also turning toward corporate earnings, with Goldman Sachs (GS) set to report later today. Bloomberg consensus estimates forecast Q1 net revenue of $14.76 billion and adjusted earnings per share of $12.26.

Other major financials, including JPMorgan Chase (JPM) and Morgan Stanley (MS), posted strong earnings last Friday but warned that ongoing trade tensions could weigh on profits and deal activity.

Additional earnings reports are due Tuesday from Johnson & Johnson (NYSE: JNJ), Bank of America (BAC), Citigroup (C), and United Airlines (UAL).

The Federal Reserve will also be in focus this week, with several officials scheduled to speak, including Chair Jerome Powell on Wednesday.

Oil Prices Rebound

Crude prices inched higher Monday, rebounding after recent sharp losses fueled by fears that the U.S.-China trade dispute could dampen global economic growth and reduce fuel demand.

As of 05:15 ET, Brent crude rose 0.7% to $65.20 a barrel, while U.S. West Texas Intermediate (WTI) gained 0.7% to $61.95 a barrel. Both benchmarks are down around $10 per barrel since the start of the month.