Traders work on the floor of the New York Stock Exchange on May 21, 2025.
NYSE
Stock futures jumped Tuesday after President Donald Trump said over the holiday weekend that he agreed to delay tariffs of 50% on the European Union.
Dow Jones Industrial Average futures added 543 points, or 1.3%. S&P 500 futures climbed 1.5%, while Nasdaq 100 futures popped 1.7%.
Trump on Sunday said that he would push back the 50% levy deadline on the EU to July 9 following a request from Ursula von der Leyen, the president of the European Commission. That comes after Trump last week proposed an import tax of 50% on the EU beginning June 1.
Tuesday’s action follows a losing week on Wall Street. The Dow, S&P 500 and Nasdaq Composite all slid more than 2% as Trump’s calls for tariffs on the EU, along with Apple, concerned investors. The U.S. stock market was dark on Monday in recognition of Memorial Day.
“We’re still wary about chasing the SPX at these levels given complacency around two major areas of macro risk (tariffs and fiscal policy/yields) along with elevated equity valuations. Trump’s most bombastic tariff threats (including the ones Fri morning) won’t become a reality, but he’s still imposed substantial import taxes in just the last four months, and his administration is probably not finished,” wrote Adam Crisafulli of Vital Knowledge.
Traders this week will follow earnings from Okta due after the bell Tuesday, followed by companies such as Nvidia, Macy’s and Costco later in the week. More than 95% of S&P 500 companies have reported this earnings season and almost 78% have surpassed analyst expectations, according to FactSet.
