Dow, S&P 500, Nasdaq futures leap as EU tariff delay bolsters market optimism

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Dow, S&P 500, Nasdaq futures leap as EU tariff delay bolsters market optimism

US stock futures jumped Monday night following President Trump’s decision to delay a broad 50% tariff on all EU products from June to July to allow time for negotiations.

Futures tied to the Dow Jones Industrial Average (YM=F) rose 0.9%, with S&P 500 contracts (ES=F) flying up 1.1%. Futures for the tech-heavy Nasdaq 100 (NQ=F) surged 1.3%.

The jumps followed Trump’s Sunday announcement that he would postpone a 50% tariff on EU imports until July 9. The move came after a request from European Commission President Ursula von der Leyen, who said in a post on X that the

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Trump’s pledge for 50% tariffs on Friday led markets lower, with Memorial Day closures delaying market responses to the on-again, off-again levies. All three major indexes saw falls of at least 2% last week, with tariff uncertainty and debt concerns leading the negative sentiment.

Trump also aimed his ire at smartphone makers on Friday, declaring that a 25% duty would be placed on all imported smartphones, specifically urging companies like Apple (AAPL) and Samsung (005930.KS) to relocate production to the US.

Investors are now turning their attention to a busy week of economic data, including reports on durable goods orders, housing, and consumer confidence. Market watchers will also hear from Federal Reserve officials who are expected to hold rates steady in line with previous direction. Trump’s contentious tax bill is also on the docket, having narrowly made it through the US House last week.

Meanwhile, Nvidia (NVDA) is set to take the spotlight on Wednesday with the quarter’s most anticipated earnings results. Okta (OKTA), Macy’s (M), and Costco (COST) are also set to report this week.

LIVE COVERAGE IS OVER 1 update Gold slips as EU-*** trade talks lower demand

Gold (GC=F) has continued to pull back after a remarkable year-to-date run. After tariff uncertainty shook riskier assets, burgeoning trade talks between the EU and the US have cut into the demand for haven commodities.

Bloomberg reports:

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