U.S. stock futures edged higher on Tuesday after President Donald Trump announced a delay in proposed tariffs on the European Union. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were up 1.36%, 1.05%, and 1.19%, respectively, at 3:17 a.m. EST, May 27.
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Over the Memorial Day weekend, Trump said he would postpone a planned 50% import tax on EU goods until July 9, following a request from European Commission President Ursula von der Leyen. The tariff, originally slated to take effect on June 1, had rattled markets last week.
The U.S. market was closed on Monday for Memorial Day. Last week, all three major indexes, the Dow, S&P 500, and Nasdaq Composite (NDAQ), fell more than 2%, weighed down by tariff fears and uncertainty surrounding major tech names like Apple (AAPL).
Today, investors are awaiting the release of economic data on durable goods, housing and consumer confidence for further economic insights. They’re also keeping an eye out for any remarks from Minneapolis Fed President Neel Kashkari and New York Fed President John Williams.
On the earnings front, Salesforce (CRM) and Semiconductor giant Nvidia (NVDA) are scheduled to release results tomorrow.
Meanwhile, the U.S. 10-year treasury yield was down, floating near 4.46%. Simultaneously, WTI crude oil futures are trending lower, hovering near $61.49 per barrel as of the last check.
Elsewhere, European indices opened higher on Tuesday, as investors responded to President Trump’s delay of the 50% EU import tariff and monitored defense sector gains amid rising UK food inflation.
Asia-Pacific Markets Traded Mixed on Tuesday
Most Asia-Pacific markets ended mixed today as investors assessed the global trade outlook following President Trump’s decision to delay a 50% tariff on European Union imports.
Hong Kong’s Hang Seng Index was up 0.44%. Also, Japan’s Nikkei and Topix indices gained 0.51% and 0.64%, respectively. However, China’s Shanghai Composite and Shenzhen Component indices closed lower by 0.18% and 0.61%, respectively.
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