Topline
U.S. stock futures and European markets rose sharply on Monday morning after President Donald Trump said he has agreed to delay the start date of his planned 50% tariffs on goods from the European Union to allow for more negotiations, marking the latest flip-flop on tariffs from the president.
File Photo: U.S. President Donald Trump said he spoke with European Commission President Ursula von ... More
In premarket trading early on Monday, the benchmark S&P 500 Futures rose by 1.26% to 5,890 points, while Dow Futures were up 1.11% to 42,137 points.
The tech-heavy Nasdaq Futures climbed 1.4% to 21,270 points.
In the EU, the pan-European benchmark STOXX Europe 50 opened above 12,207 points, up more than 1% from Friday, while the broader STOXX Europe 600 also rose around 1%.
Other key European indexes also opened in the green, with Germany’s DAX and France’s CAC 40 rising 1.69% and 1.17% respectively.
In a post on his Truth Social platform, Trump said he had received a call from European Commission President Ursula von der Leyen “requesting an extension on the June 1st deadline on the 50% Tariff with respect to Trade and the European Union.” The president said he agreed to extend the deadline to July 9, and the EU Commission president told him that trade talks between the two sides will “begin rapidly.” Shortly before Trump’s post, von der Leyen tweeted that she had made a “Good call” with the president and added, “The EU and US share the world’s most consequential and close trade relationship. Europe is ready to advance talks swiftly and decisively. To reach a good deal, we would need the time until July 9.”
This is a developing story.