Wall Street bounces back on Tuesday after the long weekend, posting solid gains in response to President Trump's decision to delay the threat of 50% tariffs on imports from the European Union. US500 is up 0.25%, US100 is trading 0.50% higher, and US2000 records a 0.55% increase.
The tariff delay pushes the trade negotiation deadline to July 9, easing concerns about escalating tensions between the U.S. and the EU. This helped improve sentiment after last week’s drop, driven by worries over public debt and uncertainty regarding tariffs.
Investor optimism was further boosted by better-than-expected consumer confidence data and broad gains across sectors, particularly in technology and consumer discretionary. The market is also preparing for upcoming macroeconomic data, including the Fed meeting minutes, the latest PCE inflation reading, and the revised GDP figure.
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Create account Try a demo Download mobile app Download mobile appFed officials are showing caution – Minneapolis Fed President Neel Kashkari called for holding off on interest rate changes until the impact of the new tariffs on inflation becomes clearer.
US500
The US500 index continues to rise despite an uncertain macroeconomic environment. However, investors are currently driven by hopes for progress in negotiations and improved trade conditions.
Stock News
Informatica (INFA.US) gained 2% on news Salesforce will acquire the company for $25/share. The deal, expected to close by early FY2027, is projected to boost Salesforce’s EPS, margin, and cash flow by year two.
Tesla (TSLA.US) rose 4.80% after Elon Musk announced a renewed focus on Tesla and core ventures. Despite April European sales plunging 49% Y/Y, the shift in leadership tone lifted sentiment.
SoundHound AI (SOUN.US) climbed 13% after Piper Sandler rated it Overweight with a $12 target, citing its strong AI voice tech and the recent Amelia acquisition, which boosts access to the $30B contact center AI market.
Harmony Gold (HMY.US) fell 8.50% after announcing a $1.03B deal to acquire MAC Copper and the CSA mine in Australia. While strategic, the large outlay raised investor concerns.
PDD Holdings (PDD.US) dropped 16% on weak Q1 earnings. Adjusted net income fell 45% Y/Y to $1.56, missing estimates, with operating cash flow down 26% due to heavy platform investments.
Trump Media (DJT.US) slid 6.40% after reports it seeks to raise $3B for crypto investments. The firm didn’t deny the plan, which aligns with Trump’s pro-crypto agenda but raised financial questions.
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