Stock Futures Recover on Holiday-Thinned Trading as Trump Delays EU Tariffs – US Market Wrap

US equity futures rose after Trump extended the deadline for aggressive eurozone tariffs, reinforcing a pattern of leaving markets guessing by making trade threats before backing down.

The US President stated that he had agreed to push the levies back to July 9 from June 1. 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. Cash Treasuries did not trade due to holidays in the United Kingdom and the United States.

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.