Stocks moved sharply higher in early trading Tuesday as investors reacted to the latest back-and-forth from the Trump administration on trade.
The Dow Jones Industrial Average was recently up 1%, or more than 400 points, while the S&P 500 and the tech-heavy Nasdaq Composite jumped 1.3% and 1.8%, respectively. Stocks are coming off losses on Friday that were sparked by President Donald Trump’s threats to impose 50% tariffs on imports from the E.U. starting June 1 and 25% tariffs on Apple if the company doesn’t manufacture iPhones in the U.S.
Trump on Sunday announced via a post on Truth Social that the start date for the E.U. tariffs would be pushed back to July 9 while the two sides engage in trade negotiations. The decision to postpone the tariffs on the E.U. comes after Trump last month paused for 90 days the wide-ranging “reciprocal” tariffs it had imposed on leading trade partners, and after a similar decision earlier this month to suspend most of the tariffs that had been placed on China.
The stock market has whipsawed in response to the trade policy shifts in recent months. The S&P 500, which comes into the holiday-shortened trading week on a four-day losing streak, plunged after the tariff plans were unveiled early last month only to recover all the ground it had lost within a few weeks as Trump appeared to soften his stance on tariffs. Through Friday’s close, the S&P 500 had declined 1.3% so far in 2025, after being down 15% year-to-date in early April.
Shares of the world’s largest technology companies were higher across the board in early trading, led by a gain of more than 4% for EV maker Tesla (TSLA). AI chipmaker Nvidia (NVDA), which is due to release its earnings report after the closing bell on Wednesday, was up about 2.5%. Apple (AAPL), which has lost ground for eight straight days, was up 1.5%. Microsoft (MSFT), Amazon (AMZN), Alphabet (GOOG), Meta Platforms (META) and Broadcom (AVGO) were also solidly higher.
Bitcoin was trading at $109,900 this morning, up from an overnight low of around $107,500. The digital currency hit an all-time high of $112,000 last week, its first record since just before Trump’s inauguration in January.
The yield on the 10-year Treasury note, which directly affects borrowing costs on all sorts of consumer and business loans, was at 4.48%, down from 4.51% at Friday’s close. The yield moved as high as 4.63% last week, its highest level in more than three months.
The U.S. dollar index, which measures the performance of the dollar against a basket of foreign currencies, was recently up 0.3% at 99.35.
Gold futures were down 2.1% at $3,295 an ounce, giving back a chunk of the gains posted last week when investors turned to the traditional safe haven asset amid the downturn in equities. West Texas Intermediate futures, the U.S. crude oil benchmark, slipped 0.5% to $61.20 per barrel.
S&P 500, Dow on Track for First Month of Gains Since January
13 minutes ago
Despite losing ground last week, major U.S. stock indexes are on pace to post sizable gains for the month.
Coming into this week, the S&P 500 and the Dow Jones Industrial Average were up 4.2% and 2.3%, respectively, so far in May. If they finish in positive territory for the month, it would mark the first time the two indexes have posting monthly gains since January.
The Nasdaq Composite had gained 7.4% for the month as of Friday’s close. The Nasdaq eked out a small gain in April after posted steep declines the previous two months.
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With its gains this morning, the S&P 500 is almost back into positive territory for the year.
Watch These Nvidia Levels Ahead of Earnings Report
1 hr 31 min ago
Nvidia (NVDA) shares were gaining ground Tuesday morning as investors await the AI chipmaker’s highly anticipated earnings report, due after the market close on Wednesday.
Investors will be monitoring quarterly revenue growth for assurance that AI spending by big tech hyperscaler customers remains robust. Market watchers will also likely look for updates about the company’s sales to China after it warned earlier this year that it would record a $5.5 billion charge due to restrictions on its popular H20 chip after the Trump administration imposed tighter export controls.
Coming into today’s session, Nvidia shares are down 2% since the start of 2025 but have rallied 52% from their early-April trough. Sentiment has been boosted by growing trade deal optimism and recent earnings reports from tech giants that forecast significant spending on AI infrastructure.
Nvidia shares trended higher for several weeks after breaking out from a falling wedge. More recently, the price has consolidated within a flag, a chart pattern that indicates a continuation of the stock’s uptrend.
While the dip has coincided with the relative strength index falling below overbought territory, the indicator remains above the neutral threshold to confirm bullish price momentum ahead of the AI investor favorite’s quarterly report.
Investors should watch key overhead areas on Nvidia’s chart around $143 and $150, while also monitoring important support levels near $121 and $115.
Nvidia shares were up 2.4% at $134.50 in recent premarket trading.
Read the full technical analysis piece here.
Major Stock Indexes Poised to Open Sharply Higher
1 hr 44 min ago
Futures tied to the Dow Jones Industrial Average were up 1.2%, indicating a gain of more than 500 points.
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S&P 500 futures were up 1.3%.
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Nasdaq 100 futures added 1.4%.
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