Stock Market Update

[BRIEFING.COM] The market got what it wanted on the tariff front and continues to surge in response. The initial driving force behind huge move higher is the news that the Trump administration paused the additional tariff on individual countries that went into effect at midnight for 90 days, excluding China.

The 10% sweeping tariffs on all countries remain in play during this period and the rate on imports from China increased to 125% from 104%. 

Short-covering activity has accelerated the upside momentum. Also, the CBOE Volatility Index (VIX) dropped to 35.48 as investors unwind some hedges.