Breaking: Dow Futures Surge 400 Points as Trump Extends EU Tariff Deadline – Live Updates on Market Response

Traders are reacting to news about tariffs on the European Union, and it’s causing a stir in the stock market. Recently, President Donald Trump announced a delay on planned tariffs of 50% that were set to kick in on June 1. This delay is now pushed to July 9, following a request from Ursula von der Leyen, the president of the European Commission.

As a result, stock futures surged last night. The Dow Jones Industrial Average futures jumped by 407 points, or about 1%. The S&P 500 futures rose by 1.1%, and the Nasdaq 100 futures climbed by 1.3%. This positive movement comes after a rough week for the market, where major indexes like the Dow, S&P 500, and Nasdaq all dropped over 2%. Concerns about Trump’s initial tariff proposal had investors worried.

Naeem Aslam, an investment chief at Zaye Capital Markets, noted that while the delay brings a temporary boost to the market, deeper worries about trade relations linger. Investors are still anxious about how these tariffs might impact the economy.

This week, traders are keenly watching upcoming economic reports related to durable goods, housing, and consumer confidence. They’re also interested in statements from key figures at the Federal Reserve, specifically Minneapolis Fed President Neel Kashkari and New York Fed President John Williams.

In addition to economic indicators, traders are looking ahead to earnings reports from several major companies this week, including Okta, Nvidia, Macy’s, and Costco. Interestingly, about 95% of S&P 500 companies have now reported earnings this season, with nearly 78% exceeding analyst expectations, according to FactSet.

This situation reflects a larger trend in which global trade policies are increasingly affecting market stability. Back in 2018, tariffs led to heightened volatility and uncertainty, with many investors becoming wary of global trade relations. As we see similar dynamics today, it’s clear that trade negotiations and economic reports will continue to play a crucial role in shaping market sentiment.

For more detailed insights into the impact of tariffs on the stock market, you can check out this FactSet report.

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