US stocks surge on AI earnings optimism and new Canada tariffs

Wall Street rallied on Tuesday as technology and semiconductor shares led a broad market recovery. The Nasdaq Composite rose 1.3%, the S&P 500 gained 0.9%, and the Dow Jones advanced 0.7%. Momentum came after Nvidia jumped nearly 2% on a strategic AI‑cloud investment, boosting confidence that demand for artificial‑intelligence computing will stay strong. Investors are eyeing upcoming earnings from Alphabet, Tesla, Intel and IBM for further clues on AI spending.

The White House announced a 50% tariff on a range of Canadian products—including beer, dairy, chemicals and sporting goods—while exempting Canadian crude oil, heightening the risk of a renewed US‑Canada trade dispute. Oil prices, which had briefly topped $91 per barrel amid renewed fighting between the United States and Iran, eased modestly as traders judged global supplies sufficient.

A concurrent 13F filing shows institutional managers holding sizable positions in core S&P 500 ETFs such as IVV, VTI and SPY, as well as sector ETFs focused on technology, semiconductors and gold. Notable increases were recorded in the iShares MSCI Emerging Markets ETF (EEM) and the iShares Gold Trust (IAU), reflecting diversified exposure amid the market’s mixed geopolitical backdrop.