The stock market is buoyed this morning as President Trump postponed new tariffs on EU imports, following a week of anxiety caused by his tariff threats. Retail giants Macy's and Abercrombie & Fitch reported positive earnings surprises but issued weak future guidance. Despite the mixed earnings news, the stock market is optimistic, with the Vanguard S&P 500 ETF (VOO) showing increased gains. As investor sentiment shifts, the focus remains on how Trump's actions will shape future trade discussions with the EU.
President Trump spooked investors last week with a tariff threat, but optimism returned when he postponed tariffs and hinted at establishing trade discussions with the EU.
Today's market optimism is evident as the VOO traded higher, reflecting investor reactions to President Trump's tariff postponement and better-than-expected earnings from Abercrombie and Macy's.
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