U.S. Stock Futures Soar as Trump Delays EU Tariffs, Market Focus Shifts to Fed and Nvidia

U.S. stock index futures surged on Tuesday, rebounding from last week’s losses, after President Donald Trump announced a delay in imposing steep trade tariffs on the European Union. The move alleviated immediate fears of a transatlantic trade war and bolstered risk appetite across markets.

At 06:20 ET (10:20 GMT), Dow Jones Futures leapt 565 points, or 1.4%, S&P 500 Futures rose 90 points, or 1.6%, and Nasdaq 100 Futures advanced 365 points, or 1.8%. Wall Street had been closed on Monday for the Memorial Day holiday.

Trump’s decision to postpone the proposed 50% tariffs on EU goods to July 9 came after a phone call with European Commission President Ursula von der Leyen. Both leaders signaled a renewed willingness to engage in trade talks, offering a reprieve to markets rattled by Friday’s tariff threats, which had also targeted Apple (NASDAQ:AAPL).

The delay provides a narrow window for potential agreements, as the July deadline coincides with the activation of Trump’s broader “reciprocal” tariff plan.

The market’s rebound also faces a test from upcoming Federal Reserve speeches, with investors looking to insights from Minneapolis Fed President Neel Kashkari and New York Fed President John Williams. Their remarks follow a week of cautious commentary from Fed officials, emphasizing economic uncertainty and persistent inflation risks. Meanwhile, economic releases including durable goods orders, housing data, and consumer confidence figures are due Tuesday.

In corporate news, all eyes turn to Nvidia (NASDAQ:NVDA), set to report earnings after the close on Wednesday. Nvidia’s results are widely seen as a bellwether for global AI demand, with expectations running high following massive gains fueled by the AI boom. Investors will also track results from Okta (NASDAQ:OKTA) later on Tuesday.

Oil prices held steady as traders awaited the outcome of the OPEC+ meeting later this week. At 06:20 ET, Brent futures edged up 0.2% to $64.22 a barrel, while U.S. West Texas Intermediate crude futures rose 0.2% to $61.63. The producer group is reportedly considering a production increase of 411,000 barrels per day in July, as it continues to unwind output cuts.

The week’s developments underline the ongoing balancing act for markets: navigating unpredictable trade policies, a cautious Fed, and sector-specific growth narratives like AI, all while monitoring global oil dynamics.