U.S. stocks opened higher on Thursday (August 7) as President Donald Trump 's new tariffs on imports from nearly 200 countries took effect . The Dow Jones Industrial Average rose 265 points, or 0.6%, while the S&P 500 gained 0.64% , and the Nasdaq Composite increased by 0.9%. Despite concerns over the tariffs, investors focused on strong corporate earnings and enthusiasm for artificial intelligence investments.

President Trump imposed tariffs ranging from 10% to 50% on imports , with an average effective rate projected to rise to 18.3%. However, Trump hinted at exemptions for semiconductor companies that manufacture in the U.S., boosting tech stocks for the second consecutive day. Yahoo Finance reported that Nvidia shares rose over 2%, while Broadcom and Micron also saw gains.

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