Wall Street is taking President Donald Trump’s latest threat on tariffs in stride, on the whole, and U.S. stocks are drifting higher on Monday. The S&P 500 was up 0.6% in midday trading, coming off a losing week that was bookended by worries about how potential tariffs could push up inflation and threaten the economy.

U.S. stocks closed higher as investors snatched up aluminum and steel shares on President Trump's plan for a 25% tariff on those imports.

Wall Street's main indexes closed higher on Monday, lifted by Nvidia and other AI-related stocks, while steelmakers surged after U.S. President Donald Trump said he would impose additional tariffs on steel and aluminum imports.