Stocks finished higher on Tuesday after President Donald Trump agreed to delay tariffs of 50% on the European Union and a better-than-expected jump in consumer confidence.
Dow Jones Averages.
$
42343.65
The Dow Jones Industrial Average closed higher by more than 740.58 points, or 1.78%, while the S&P 500 and Nasdaq Composite climbed 2.05% and 2.47%, respectively. Trump announced the tariff extension in a Truth Social post on Sunday, saying that he had a productive phone call with von der Leyen.
| Symbol | Price | Change | %Change |
|---|---|---|---|
| I:DJI | $42,343.65 | 740.58 | 1.78 |
| SP500 | $5,921.54 | 118.72 | 2.05 |
| I:COMP | $19,199.16 | 461.96 | 2.47 |
“I agreed to the extension — July 9, 2025 — It was my privilege to do so,” Trump wrote. “The Commission President said that talks will begin rapidly.”The European Union on Monday agreed to fast-track trade talks with the U.S. following Trump’s threats of yet further sanctions against the region.”These negotiations are complex, and so they are taking time,” commission spokeswoman Paula Pinho told reporters. “There’s now also a new impetus for the negotiations and we will take it from there.
“Meanwhile, U.S. consumer confidence increased much more than expected in May after five straight months of declines.The Conference Board said on Tuesday its consumer confidence index increased 12.3 points to 98 this month. Economists polled by LSEG expected an increase to 87.
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