Overview

• President Trump delayed a planned 50% tariff on European Union goods until July 9 following discussions with European Commission President Ursula von der Leyen.
• U.S. stock index futures climbed over 1%, with Dow E-minis up 526 points and Nasdaq and S&P 500 contracts rising on the tariff reprieve.
• Treasury yields slid sharply, including an eight-basis-point drop in the 30-year yield and a slip in the 10-year, while the dollar moved toward a fifth consecutive monthly decline.
• Federal Reserve officials signaled they will keep the federal funds rate at 4.25%–4.5% as they await fresh data and publish minutes from their May meeting on Wednesday.
• Investors are eyeing this week’s consumer confidence surveys, durable goods orders and housing reports for signs that trade uncertainty is affecting growth and spending.