U.S. stock futures climbed on Monday night following President Donald Trump’s decision to postpone the planned 50% tariff on the European Union until July 9.
The S&P 500 Futures are up 0.94%, trading at 5,871, Nasdaq Futures trade at 21,189.75, up 1.03%, followed by Dow Futures at 42,027, up 0.85%, following the Memorial Day weekend.
This comes amid the EU’s trade commissioner, Maros Sefcovic, saying on Monday that he had “good calls” with Trump administration officials and was “fully committed” to reaching a trade deal by the extended deadline of 9 July, according to an Associated Press report.
Sefcovic’s remarks follow the latest escalation in the trade war, with Trump threatening to impose the 50% tariffs on EU imports, saying that the bloc had been “very difficult to deal with.”
Japan’s benchmark Nikkei 225 had a volatile start on Tuesday, opening lower, but recovering and now trading largely flat, down by 0.08%, or 31 points, at 37,500.39, at the time of writing this.
Private railway services and domestic entertainment companies are on the ascent, while banks and financial institutions decline amid the nation’s unfolding bond crisis.
The U.S. Dollar Index (DXY) continued to decline during the Memorial Day weekend, trading at 98.805, down 0.31% on Monday, extending its losses to 5.61% over the past 12 months.
On Tuesday, investors will be closely watching the earnings results of AutoZone Inc. AZO and Box Inc. BOX in the lead-up to the results of Nvidia Corp. NVDA and Salesforce Inc. CRM later in the week.
The markets were closed on Monday, on account of Memorial Day, a national holiday in the U.S. to honor the men and women who’ve died while serving in the military.
Photo Courtesy: Billion Photos on Shutterstock.com
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