Stocks Rise on Trump’s Tariff Delay; Dollar Wavers: Markets Wrap
A trader works on the floor of the New York Stock Exchange on May 22.
Photographer: Michael Nagle/BloombergEuropean stocks climbed along with US equity futures after President Donald Trump extended a deadline on aggressive euro area tariffs, reinforcing a pattern of leaving markets guessing by making trade threats before backtracking.
The Stoxx Europe 600 index erased Friday’s losses sparked by Trump’s threat of 50% tariffs on the European Union. The US President later said he had agreed to delay the date for the levies to July 9 from June 1. Contracts for the S&P 500 and the Nasdaq 100 advanced more than 1%. A gauge of the dollar hovered near its lowest level in almost two years. Cash Treasuries didn’t trade due to holidays in the UK and US.