From Yahoo Finance: 2025-05-26 00:02:00

European shares closed higher and U.S. futures surged after Trump delayed a threatened 50% tariff on EU goods to July 9. Markets welcomed the news, with S&P 500 futures gaining 1.3% and Dow Jones futures up 1%. Germany’s DAX added 1.5%, while CAC 40 rose 1%.

On Monday, the EU’s chief trade negotiator had “good calls” with Trump officials, committing to reaching a trade deal by July 9. Asian markets varied, with Tokyo’s Nikkei up 1% but Hong Kong’s Hang Seng down 1.4%. U.S. stocks fell Friday as traders assessed Trump’s tariff threats.

Trump’s latest tariff threats impacted Wall Street, with S&P 500 dropping roughly 20% below its record at one point last month. The index climbed back within 3% of its all-time high after Trump paused tariffs on many countries. In other trading, Brent crude fell to $64.74 per barrel.

Deckers Outdoor and Ross Stores won’t offer full-year forecasts due to economic uncertainty. Stocks in the nuclear industry rallied after Trump signed orders to speed up nuclear licensing. Intuit rose 8.1% after reporting a stronger profit for the latest quarter. Apple dropped 3% after Trump’s tariff warning.

Read more: European shares gain after Trump pushes back planned 50% tariffs on EU