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yesterday

Trump Delays Planned 50% EU Tariffs to July 9, Sending Stocks Higher

Investor relief over the tariff pause has lifted markets as Washington eyes a trade agreement with Brussels by July 9

FILE - Shoppers pass by large-screen televisions on display in a Costco warehouse Thursday, Dec. 19, 2024, in Colorado Springs, Colo. (AP Photo/David Zalubowski, File)
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Overview

  • President Trump pushed back threatened 50% duties on European imports from June 1 to July 9, agreeing to expedited talks after a call with EU Commission President Ursula von der Leyen.
  • U.S. stock futures jumped more than 1.4%, driving the S&P 500 up about 2% and powering gains in tech leaders such as Nvidia and Tesla.
  • Yields on the 10-year Treasury dipped from 4.51% to around 4.44% as bond investors returned amid eased trade-policy uncertainty.
  • The Conference Board reported a 12.3-point rise in U.S. consumer confidence for May, marking its first monthly gain this year following tariff reprieves on China and the EU.
  • Salesforce unveiled an $8 billion all-stock acquisition of Informatica to boost its AI offerings as markets await Nvidia’s quarterly earnings on Wednesday.