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yesterday

U.S. Futures Surge After Trump Extends EU Tariff Deadline

Investors fueled a surge in U.S. futures, driving down Treasury yields on hopes of a July 9 trade agreement.

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A container ship is moored at the port of the port of New York & New Jersey in Elizabeth, N.J., Monday May 12, 2025.
Traders work on the floor of the New York Stock Exchange.

Overview

  • President Trump postponed his threat to impose 50% tariffs on European Union goods until July 9 to allow time for trade negotiations.
  • U.S. stock index futures soared after the Memorial Day break, with Dow E-minis up roughly 1.3%, S&P 500 futures rising 1.5% and Nasdaq futures climbing 1.7%.
  • European markets also responded positively to the tariff delay, as the STOXX 600 held early gains and the FTSE 100 advanced more than 1% on renewed optimism in Brussels.
  • Treasuries rallied, pushing 30-year yields down about eight basis points to near 4.96%, while the U.S. dollar index strengthened by around 0.35%.
  • Analysts report that investors are growing accustomed to tariff threats, with focus shifting to key releases this week including durable goods orders, consumer confidence data and Nvidia’s quarterly results.