Major U.S. stock indexes experienced gains as markets reacted to President Donald Trump’s announcement of additional tariffs on steel and aluminum imports, which positively affected metal manufacturers’ shares.

The new trading week promises a steady influx of quarterly earnings announcements, including reports from major consumer brands like Coca-Cola (KO) and McDonald’s (MCD), along with the CPI data release scheduled for Wednesday.

On Monday, the S&P 500 experienced a rise of 0.7%. The Dow increased by 0.4%, and the Nasdaq saw a jump of 1.0%.

Super Micro Computer’s shares (SMCI) soared 17.6%, marking the highest performance in the S&P 500 for the day. Investors are looking forward to a business update set for Tuesday. The server provider has until February 25 to submit its overdue annual report, with analysts at Wedbush suggesting that the company may either file the statement on time or seek another extension.

Rockwell Automation’s shares (ROK) surged 12.6% following the company’s report of better-than-expected profits for its fiscal first quarter, showcasing successful cost-cutting and margin-increasing strategies.

Shares of Western Digital (WDC) climbed 7.1% after analysts at Cantor Fitzgerald maintained an overweight rating on the stock. Recently, Western Digital disclosed shifts in its management team that will take effect following the planned spinoff of its flash business, part of a strategic realignment aimed at facilitating this initiative.

ON Semiconductor’s shares (ON) fell 8.2%, suffering the largest decline within the S&P 500. This drop followed the company’s disappointment in profit and sales for the fourth quarter, with sales across all its three divisions—including Power Solutions, Analog and Mixed-Signal, and Intelligent Sensing—showing a decline from the previous year. The company’s forecasts were also underwhelming, citing uncertainties ahead for 2025.

Incyte (INCY) reported adjusted profits for the fourth quarter that fell short of expectations, and the firm’s sales outlook for 2025 also disappointed analysts. Although Incyte recorded year-on-year sales growth for its two main products, Opzelura and Jakafi, revenue projections for both drugs missed consensus estimates. Consequently, Incyte shares slipped 7.9% on Monday.

Deckers Outdoor’s shares (DECK), parent company of footwear brands Ugg and Hoka, declined by 3.9%. Analysts at Citi upgraded Deckers from “neutral” to “buy” last week, arguing that the recent selloff was unwarranted, given sustained strong demand. Nonetheless, there are ongoing concerns regarding how the footwear and apparel company may be impacted by tariffs on imports from China.