Traders work on the floor of the New York Stock Exchange on May 21, 2025.
NYSE
Stock futures jumped Monday night after President Donald Trump said over the holiday weekend that he agreed to delay tariffs of 50% on the European Union.
Dow Jones Industrial Average futures added 407 points points, or 1%. S&P 500 futures climbed 1.1%, while Nasdaq 100 futures popped 1.3%.
Trump on Sunday said that he would push back the 50% levy deadline on the EU to July 9 following a request from Ursula von der Leyen, the president of the European Commission. That comes after Trump last week proposed an import tax of 50% on the EU beginning June 1.
“While the delay in EU tariffs has provided a short-term boost to futures markets, underlying concerns about trade relations and upcoming economic indicators continue to weigh on investor sentiment,” said Naeem Aslam, investing chief at Zaye Capital Markets, in a note to clients.
Monday night’s action follows a losing week on Wall Street. The Dow, S&P 500 and Nasdaq Composite all slid more than 2% as Trump’s calls for tariffs on the EU, along with Apple, concerned investors. The U.S. stock market was dark on Monday in recognition of Memorial Day.
Investors will watch for economic data on durable goods, housing and consumer confidence on Tuesday. They’ll also monitor commentary from Minneapolis Federal Reserve President Neel Kashkari and New York Fed President John Williams.
Traders will also follow earnings from Okta due after the bell, followed by companies such as Nvidia, Macy’s and Costco later in the week. More than 95% of S&P 500 companies have reported this earnings season and almost 78% have surpassed analyst expectations, according to FactSet.