Daily summary: dollar and Wall Street rebound 📈 Tesla leads gains in the US 📄🔎

Wall Street gained on the first trading session after the long weekend. The rally is a delayed response to President Trump’s decision to postpone the threat of a 50% tariff on imports from the European Union. European indices also closed higher, following the U.S. momentum. Germany’s DAX rose more than 0.8%.

In the evening session, the US500 is up 0.60% to 5930 points, while the US100 is gaining 0.80% to 21450 points. The biggest winner is the small-cap index US2000, which is climbing 1.10% to 2090 points.

Beyond the U.S. stock indices, the dollar is also strengthening. The USDIDX is up nearly 0.6%, putting downward pressure on the euro. Meanwhile, 10-year Treasury yields are falling more than 6 basis points today, despite strong data out of the U.S.

Data from ACEA (the European Automobile Manufacturers’ Association) shows a sharp drop in Tesla sales in Europe in April 2025. Tesla saw a nearly 49% YoY decline across the continent, and over 52% in the EU alone.

Despite that, Tesla shares are up more than 6% today, after Elon Musk announced he is refocusing on the company and its core ventures.

Strong U.S. data – consumer confidence from CB exceeded forecasts (98 vs 87.05 expected and 86 prior). One-year inflation expectations declined, though they remain elevated (still well above 6%). Durable goods orders in May dropped less than expected.

Markets are also preparing for upcoming macroeconomic data, including Nvidia earnings (due tomorrow after the U.S. session), Fed meeting minutes, the latest PCE inflation reading, and revised GDP figures.

Fed officials remain cautious – Minneapolis Fed President Neel Kashkari urged holding off on rate decisions until the impact of new tariffs on inflation becomes clearer.

The housing price index suggests easing inflation pressure, fueling hopes for lower CPI readings — Home prices m/m: -0.1% vs 0.1% forecast and 0.1% previous.

Trump Media and Technology Group (DJT.US) announced a private stock offering worth $2.5 billion, targeting 50 institutional investors to build one of the largest Bitcoin treasuries among publicly traded companies.

Following the announcement, Bitcoin bounced from around $109,000 to above $110,000. At the time of publication, investor attention is shifting to smaller projects and Ethereum, which is up 5.20% to $2700.

Chicago wheat futures are down nearly -2.5% today, resuming their downward trend as supply concerns in Russia and China eased amid favorable weather patterns in key growing regions.

Oil prices are slightly retreating by just over 1%, while natural gas futures are up nearly 0.7%. Gold prices are down over 1.2% on stronger risk appetite; silver is also lower, down about 0.8% today.