U.S. stocks rally on President Trump’s tariff reprieve

U.S. stocks jumped Tuesday as traders returned from the Memorial Day break, buoyed by easing tensions after President Donald Trump softened his stance on steep tariffs against the EU. On Sunday, Trump backed off his threat of 50% tariffs on EU imports, reinstating a July 9th deadline for negotiations between Washington and the 27-nation bloc.
Reuters:
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He had said on Friday that he was recommending a 50% tariff effective June 1 and expressed frustration that trade negotiations with the EU were not moving quickly enough.
Asian and European markets were mixed after rising on Monday, although moves in U.S. assets were more pronounced as traders returned after the long weekend.
Most megacap and growth stocks jumped in premarket trading. Apple was up nearly 2%, Alphabet rose 2% and Tesla climbed 2.7%.
Trump Media & Technology Group advanced 10.3% after a media report said Trump’s social media firm planned to raise about $3 billion to spend on cryptocurrencies such as bitcoin.
Shares of semiconductor industry bellwether Nvidia kicked off the week with a 2.6% rise.

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MacDailyNews Take: Keep enjoying the ride! The blessed volatility won’t last forever, so take advantage when the opportunities present themselves!

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