12:32 PM EDT, 03/24/2025 (MT Newswires) -- US equity indexes jumped while government bond yields dropped amid expectations that the Trump administration would implement a less strict tariff policy than investors had anticipated.

The Nasdaq Composite jumped 2.1% to 18,153.2, with the S&P 500 up 1.7% to 5,763.1 and the Dow Jones Industrial Average 1.4% higher at 42,552.5 after midday on Monday.

All sectors rose intraday, with consumer discretionary communication services, and technology leading the gainers intraday.

President Donald Trump is likely to exclude certain sectors from a slate of tariffs scheduled to take effect on April 2, media outlets reported over the weekend. He reportedly said on Friday that there is "flexibility" in his plans for reciprocal tariffs.

US Treasury yields jumped, with the 10-year yield up 7.3 basis points to 4.33% and the two-year rate climbed 8.1 basis points to 4.03% after midday.

In economy news, the March flash reading of manufacturing conditions from S&P Global fell to a three-month low reading of 49.8 from 52.7 in February, compared with a smaller expected decrease to a reading of 51.8 in a survey compiled by Bloomberg.

In company news, Goldman Sachs downgraded Super Micro Computer ( SMCI ) to sell from neutral while adjusting its price target to $32 from $40. Shares of Super Micro were down 5.6% intraday, the worst performer on the S&P 500.

West Texas Intermediate crude oil futures jumped 1.3% to $69.16 a barrel.

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