Stocks surged on Tuesday, with the S&P 500 leading the gains after a four-day losing streak. The positive momentum was driven by the latest trade policy shift by the Trump administration, particularly the decision to delay tariffs on EU imports. The tech-heavy Nasdaq Composite and the Dow Jones Industrial Average also saw significant increases, with the latter rising over 700 points.
President Trump’s announcement to postpone the E.U. tariffs to July 9 for trade negotiations marked a shift in the market sentiment, following previous tariff threats that had sparked volatility in the stock market. This move follows a series of decisions to pause or suspend tariffs on various trade partners, leading to a rollercoaster effect on the stock market in recent months.
The market responded positively to the news, with major technology companies like Tesla, Nvidia, and Apple seeing notable gains. Tesla surged by 7%, while Nvidia and other chip companies also experienced increases ahead of earnings reports. Consumer discretionary stocks, including cruise operators and airlines, also saw significant jumps on Tuesday.
Meanwhile, in the financial markets, Bitcoin experienced fluctuations, reaching $109,000 after hitting an all-time high last week. The yield on the 10-year Treasury note saw a slight decrease, while the U.S. dollar index showed a modest increase. Gold futures declined, and West Texas Intermediate futures slipped to $61.05 per barrel.
Among the biggest movers in the S&P 500 on Tuesday were Hologic, Deckers Outdoor, and Tesla on the positive side, while Fair Isaac and AutoZone faced declines. Hologic’s surge was driven by rejecting a buyout offer, while AutoZone reported declining gross margins in its fiscal third quarter.
In other sectors, nuclear stocks continued to rise following executive orders signed by President Trump, with NuScale Power and Oklo seeing significant gains. Moreover, Salesforce’s acquisition of Informatica for $8 billion boosted shares of the AI-based data management software provider.
Looking ahead, market analysts are closely watching Nvidia’s upcoming earnings report, with expectations of about 7% stock movement post-announcement. The stock market is also on track for its first month of gains since January, with the S&P 500, Dow Jones, and Nasdaq Composite showing positive performance for the month of May.
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