President Trump has postponed the imposition of a 50% tariff on imports from the European Union from June 1 to July 9, reportedly in response to a request from European Commission president Ursula von der Leyen. This delay suggests that the EU may be interested in negotiating a trade deal to potentially lower tariffs even further. Following this announcement, investor sentiment was positive, with the Vanguard S&P 500 ETF showing a notable increase in early trading. Additionally, Goldman Sachs upgraded Terex and Cummins stocks while expressing concerns about tariff impacts, highlighting a focus on key earnings reports from various companies this week.
President Trump announced a delay in the 50% tariff on EU imports until July 9, signaling potential negotiations towards a trade deal.
Goldman Sachs expressed concern over the tariff's impact on companies like Terex and Cummins, but still upgraded both stocks based on future earnings potential.
Investors reacted positively to the tariff delay, with the Vanguard S&P 500 ETF rising 1.2% in early trading.
Autozone reported mixed earnings results, beating revenue expectations but falling short on earnings per share, leading to a modest stock increase.
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