Morning Juice – US Session Prep (26th May)

US Market Holiday: Memorial Day
US Exchanges Closed, Bond Market Closed, Futures Close Early (13:00 ET), FX Market Open, but expect low liquidity during US hours.

Sentiment
European stocks rose alongside US equity futures after President Donald Trump extended a deadline for aggressive eurozone tariffs, reinforcing a pattern of leaving markets guessing by issuing trade threats before backing down.

The US President later stated that he had agreed to postpone the levies to July 9th from June 1st.
Contracts for the S&P 500 and Nasdaq 100 rose more than 1%.
The dollar index hovered near its lowest level in nearly two years.

The tariff war has resurfaced as a major driver after concerns about Trump’s proposed tax cuts and their impact on the US deficit shook markets for much of last week. Trump’s erratic moves have increased market uncertainty, and his broadside against Europe on Friday, followed by a backtrack, was a stark reminder of the president’s unpredictable policymaking.

Speakers
09:30 ET
ECB Governing Council member Joachim Nagel speaks at event in Berlin on Europe’s prospects in the global trade dispute.

10:30 ET
ECB’s President Lagarde speaks on Europe’s Role in a Fragmented World at Hertie School in Berlin.

11:00 ET
Trump delivers remarks and participates in a Wreath-Laying Ceremony at Arlington National Cemetery

Good luck!