Overview

• President Trump pushed back 50% tariffs on European imports to July 9, triggering a 1.3–1.7% rise in Dow, S&P and Nasdaq futures
• The European Union agreed to accelerate trade talks with Washington to meet the new July deadline
• U.S. consumer confidence unexpectedly improved in May, posting its first gain in six months on stronger income, business and job expectations
• The 10-year Treasury yield fell below 4.5% and gold prices dropped nearly 2% as investors rotated into equities
• Market attention now turns to Wednesday’s release of Federal Reserve meeting minutes and Nvidia’s quarterly earnings report