US Stocks Rise on US-EU Trade Optimism
US stock rose sharply Tuesday as markets reopened after the long weekend, buoyed by easing trade tensions and global bond market shifts.
President Donald Trump delayed the start of a proposed 50% tariff on EU imports from June 1 to July 9, following a request from European Commission President Ursula von der Leyen. The move revived hopes of a trade resolution, boosting risk appetite. Adding to the optimism, Japan's finance ministry indicated it may scale back government bond issuance, calming recent volatility in its debt market.
That pushed investors toward US assets, lifting demand for equities. S&P 500 gained 1.2%, the Dow rose 1%, and Nasdaq 100 climbed 1.5%. Tesla gained over 2% after Elon Musk said he would refocus on his companies.
Trump Media surged 11% on reports it plans to raise $3 billion to invest in crypto. US Steel extended Friday’s rally on news of closer US-Japan corporate ties.
Source: Trading Economics