The broader markets are experiencing a rally, largely due to President Trump's decision to postpone proposed EU import tariffs until July 9, which resulted in notable gains in major stock indices. The Dow Jones Industrial Average saw a significant uptick of 300 points upon this announcement. Additionally, a stronger-than-expected consumer confidence reading of 98 bolstered market optimism. Tech stocks like Nvidia and Tesla are particularly noted for their gains, suggesting a favorable sentiment towards these key players in anticipation of future developments in trade and economic growth.
Market sentiment has turned decidedly upbeat, with all three major stock market averages seeing gains from the open, primarily influenced by President Trump’s decision to delay EU tariffs.
Consumer Confidence for May came in at a stronger than expected reading of 98, up 12.3 points month-over-month, which has also buoyed stock prices.
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