U.S. Markets Surge as Trump Eases EU Tariff Threat

U.S. stock index futures rallied after President Trump withdrew his steep tariff threat against the EU. Markets responded positively post-Memorial Day, while tech and growth stocks saw significant gains. Economic data releases, such as consumer confidence and the Fed's meeting minutes, are anticipated this week.

U.S. stock index futures rose sharply on Tuesday when President Donald Trump retracted his threat to impose hefty tariffs on the European Union, easing earlier trading tensions.

This reversal followed Trump's initial announcement of a potential 50% tariff on EU imports, which he had slated for June 1. Now, there's a new deadline of July 9 to allow for further negotiations.

Upon reopening after the Memorial Day holiday, U.S. markets reflected relief, indicated by rising futures for Dow, S&P 500, and Nasdaq. Prospects of ongoing discussions and upcoming economic reports keep traders on alert.

(With inputs from agencies.)