On April 9, President Donald Trump’s tariff pause sent the stock market into a frenzy.
Just hours after the import duties levied on the United States’ largest trading partners went into effect, Trump announced a 90-day pause — and a revised plan that will see universal tariffs of 10% imposed on all imports, with higher rates for trading partners such as the People’s Republic of China, which the administration sees as engaging in unfair trading practices.
What followed was an instantaneous, roughly 280-point jump in the S&P 500. The benchmark index closed at 5,456, some 474 points higher than yesterday’s close, but still 3.77% below April 2 levels, and down 7.22% on a year-to-date (YTD) basis.
In much the same way as ‘Black Friday 2025’, despite being a significant downturn, saw some equities crash while others soared, Trump’s tariff pause also had an unequal effect across the board.
Here are the stocks that benefited the most from the White House’s most recent trade and foreign policy pivot.
Microchip Technology (NASDAQ: MCHP)
A leading provider of microcontrollers and analog semiconductors, Microchip Technology stock (NASDAQ: MCHP) does not enjoy the limelight as much as other high-profile artificial intelligence (AI) plays — and it also hasn’t seen similar degrees of capital appreciation.
Trump’s tariff pause provided a much-needed positive catalyst. MCHP stock surged by 27.76% — from $35.34 to $45.15 by press time on April 10.
Beyond tariff risks, Microchip Technology stock has been hampered by high inventory and high debt. These struggles have led to a recent $1.35 billion offering of convertible stock.
United Airlines (NASDAQ: UAL)
Before the Trump tariff pause, United Airlines stock (NASDAQ: UAL) was down some 41.16% on a year-to-date (YTD) basis. Present conditions, chiefly geopolitical conflicts and supply chain risks, are unfavorable for investing in airline stocks. Moreover, fears of resurgent inflation and recession tend to decrease travel demand as consumers cut down on non-discretionary expenses.
UAL shares surged from $57.68 to $70.53 on April 9. With this latest 22.28% rally, United Airlines stock is now down 28.50% on a year-to-date (YTD) basis.
Readers interested in a more material outlook regarding UAL’s future prospects should keep an eye out for the company’s next earnings call, which, while not confirmed, is expected to take place on April 15.
Advanced Micro Devices (NASDAQ: AMD)
Our last entry for today is ailing chipmaker Advanced Micro Devices. AMD stock (NASDAQ: AMD) hasn’t had a meaningful move to the upside since mid-2024. After Trump’s tariff pause was announced, AMD shares shot up from $79.36 apiece to $96.21.
As bullish as this 21.23% surge might appear at first glance, it’s rather telling that the biggest surge AMD stock has seen in a long while came as a correction after a crash.
While the semiconductor company’s shares might very well reclaim the $100 mark in short order, they are unlikely to appreciate in value much further — for the time being, AMD shares remain a value play, at best.
Featured image via Shutterstock
