Advertisement. Remove ads.
U.S. stocks look set for a positive opening on Tuesday after President Donald Trump delayed the proposed tariffs on goods imported into the United States from the European Union.
“I received a call today from Ursula von der Leyen, President of the European Commission, requesting an extension on the June 1st deadline on the 50% Tariff with respect to Trade and the European Union,” Trump wrote on Truth Social on Sunday, adding that the levies have been delayed to July 9, 2025.
U.S. equity markets were closed for trading on Monday on account of Memorial Day.
While Dow Jones futures were up 1.35% at the time of writing, the S&P 500 futures rose 1.56%, and the tech-heavy Nasdaq 100’s futures surged 1.70%. Futures of the Russell 2000 index were up 1.80%.
Meanwhile, the SPDR S&P 500 ETF Trust (SPY) was up 1.47%, while Invesco QQQ Trust (QQQ) gained 1.59% on Tuesday morning.
Bitcoin (BTC) rose 0.10% in the past 24 hours.
Asian markets ended Tuesday’s trading session on a mixed note, with the Nikkei 225 index rising the most at 0.51%, followed by the Hang Seng with gains of 0.43%.
The TWSE Capitalization Weighted Stock index fell the most at 0.94%, followed by the KOSPI at 0.27%, and the Shanghai Composite index declined 0.18% for the day.
Nvidia Earnings, Treasury Auction On Investors’ Minds
Nvidia Corp.’s (NVDA) first-quarter (Q1) earnings will be on investors’ radar this week – the AI bellwether is scheduled to announce its Q1 results on Wednesday.
Nvidia is expected to report earnings per share (EPS) of $0.73 on revenue of $43.28 billion, up from an EPS of $0.61 and revenue of $ 26.04 billion during the year-ago period.
Retail investors on Stocktwits expect Nvidia’s stock to witness a major breakout post earnings – 42% of the 16,200 votes on a recent poll say the stock will surge 10% or more after Nvidia’s Q1 earnings.
Treasury auction will also be on investors’ radar this week, with 3-month, 6-month, 2-year, and 5-year note auctions scheduled between Tuesday and Wednesday.
According to the analysts at Charles Schwab, weak auctions could push Treasury yields higher and weigh on stocks.
"Rising Treasury yields suggest creditors, or those who buy Treasuries, are wanting a higher yield to help compensate for higher perceived risk to repayment," said Nathan Peterson, director of derivatives analysis at the Schwab Center for Financial Research.
Investors will also keep an eye on the release of minutes from the Federal Reserve’s May 6-7 meeting and the release of the Personal Consumption Expenditures (PCE) inflation data this week.
For updates and corrections, email newsroom[at]stocktwits[dot]com.