NEW YORK, New York - Investors bought up stocks on U.S. markets Monday after President Donald Trump indicated he may pull back on some tariffs. The positive momentum in the markets was largely attributed to reports indicating the U.S. administration plans to implement more targeted trade tariffs than previously anticipated.This development alleviated some investor concerns regarding potential broad-based trade conflicts.​

Technology stocks led the rally, with notable gains in companies like Tesla and Nvidia. Additionally, sectors such as consumer discretionary and industrials contributed to the overall market uptick.

"Market conditions are improving dramatically as the angst around reciprocal tariffs is somewhat diminishing. From a risk standpoint, escalation or retaliation has always been a concern, but should the administration come through with a more targeted and tactical strategy around tariff implementation, risks of a full-blown trade war are reduced," Charlie Ripley, senior investment strategist at Allianz Investment Management told CNBC Monday. "We see this as a potential lift to growth in the U.S., should reciprocal tariffs come in a more watered-down form."

Following are Monday's closing quotes from key U.S. indices:

• • Standard and Poor's 500: The benchmark index advanced by 100.01 points, or 1.76 percent, closing at 5,767.57. ​

  • Dow Jones Industrial Average: The Dow Jones rose 597.97 points, an increase of 1.42 percent, ending the session at 42,583.32. ​

  • NASDAQ Composite: The tech-heavy index surged 404.54 points, or 2.27 percent, to finish at 18,188.59. ​

  • NYSE Composite (DJ): This broad market index climbed 249.90 points, representing a 1.28 percent gain, to close at 19,704.21.​

  • NYSE AMEX Composite Index: The index increased by 66.00 points, or 1.29 percent, ending at 5,176.62.​

Global stocks closed mostly lower - UK, and European shares fare worst

Stocks around the world were generally lower on Monday, but for North America where U.S, and Canadian shares rallied hard.

Following are the closing quotes for key exchanges in Canada, the UK, Europe, Asia, and the Middle East:

Canadian Markets:

• S&P/TSX Composite Index: Canada's primary stock index rose by 335.62 points, a gain of 1.34 percent, closing at 25,304.11.

UK and European Markets:

• FTSE 100: The UK's leading index closed at 8,638.01, down 8.78 points, a decrease of 0.10 percent.​

• DAX: Germany's DAX ended at 22,852.66, falling 39.02 points, or 0.17 percent.​

• CAC 40: France's CAC 40 settled at 8,022.33, a decline of 20.62 points, representing a 0.26 percent drop.​

• EURO STOXX 50: The Eurozone's benchmark index closed at 5,415.79, down 8.04 points, or 0.15 percent.​

• Euronext 100: This index finished at 1,593.15, a slight decrease of 0.28 points, equating to 0.02 percent.​

• BEL 20: Belgium's primary index ended at 4,474.37, down 5.51 points, or 0.12 percent.​

Asian Markets:

• Hang Seng Index: Hong Kong's market showed resilience, closing at 23,905.56, up 215.84 points, an increase of 0.91 percent.​

• Straits Times Index: Singapore's STI reached a record closing high of 3,936.33, gaining 9.88 points, or 

• S&P BSE SENSEX: India's Sensex surged to 77,984.38, rising 1,078.88 points, marking a 1.40 percent increase. ​

• IDX Composite: Indonesia's benchmark index fell to 6,161.22, down 96.96 points, a decline of 1.55 percent.​

• FTSE Bursa Malaysia KLCI: Malaysia's index closed at 1,503.82, decreasing by 1.63 points, or 0.11 percent.

• KOSPI Composite Index: South Korea's KOSPI ended at 2,632.07, down 11.06 points, or 0.42 percent.​

• TWSE Capitalization Weighted Stock Index: Taiwan's main index declined to 22,106.64, losing 102.46 points, a drop of 0.46 percent.

• Nikkei 225: Japan's premier index closed at 37,608.49, slipping 68.57 points, or 0.18 percent.

Oceania

• S&P/ASX 200: Australia's leading index edged up to 7,936.90, an increase of 5.70 points, or 0.07 percent.​

• All Ordinaries: This Australian index slightly declined by 0.80 points to close at 8,157.90, a marginal decrease of 0.01 percent.

• S&P/NZX 50 Index Gross: New Zealand's market rose to 12,128.21, up 14.67 points, an increase of 0.12 percent.

Middle East markets

• TA-125: Israel's index advanced to 2,486.15, gaining 47.05 points, or 1.93 percent.​

• EGX 30 Price Return Index: Egypt's benchmark fell to 31,811.00, down 122.80 points, a decrease of 0.38 percent.

Currency and Commodity Indices:

• US Dollar Index: This index, measuring the dollar against a basket of currencies, rose to 104.26, an increase of 0.17 points, or 0.17 percent.​

• MSCI Europe: Reflecting European equity market performance, this index declined to 2,262.30, down 4.50 points, or 0.20 percent.​

• British Pound Currency Index: The index edged up to 129.24, gaining 0.10 points, an increase of 0.07 percent.​

• Euro Currency Index: This measure fell to 108.03, a decrease of 0.30 points, or 0.28 percent.​

• Japanese Yen Currency Index: The index declined to 66.42, down 0.54 points, representing a 0.81 percent drop.​

• Australian Dollar Currency Index: This index rose to 62.84, gaining 0.08 points, or 0.13 percent.