US Futures Rise as Trump Postpones EU Tariffs
US stock futures surged on Tuesday following President Donald Trump's announcement over the holiday weekend to delay the implementation of a proposed 50% tariff on European Union goods. Originally set to take effect imminently, the new deadline has been pushed to July 9th. This decision comes after a tumultuous week for financial markets, which faced heightened concern over the US fiscal landscape and ongoing trade disputes. In the previous week, the Dow Jones Industrial Average declined by 2.47%, the S&P 500 contracted 2.61%, and the Nasdaq Composite decreased by 2.47%. Apple shares, in particular, experienced a significant drop of 7.57% after Trump cautioned that iPhones sold in the United States must be produced locally or incur a minimum 25% tariff. Investors are now focused on crucial economic reports due on Tuesday, including updates on durable goods, housing, and consumer confidence. In addition, market analysts are closely monitoring corporate earnings releases, with Okta's results expected today, followed by earnings reports from Nvidia, Macy's, and Costco later in the week.
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