IXIC: Nasdaq Futures Rally as Tech Lovers Cheer Trump’s Tariff Timeout on EU. Now What?

Tariff threat lasted shorter than a weekend — announced on Friday and walked back late on Sunday. Stocks aren’t sitting idle.

🎁 Nasdaq Futures Poppin’

• Nasdaq Composite futures IXIC were trading higher by 1% early Tuesday. US traders were feeling the groove after a long weekend and decided to throw in there a few good billions after Trump did another full 180 on his latest tariff tantrum.
• On Friday, Trump said that the EU will be paying 50% tariffs on all its imports into the US starting June 1. “That’s the way it is.”
• Turns out, it’s not actually. Trump said Sunday he was on the phone with European Commission President Ursula von der Leyen and they’ve agreed to extend that deadline to July 9. “I agreed to the extension — July 9, 2025 — It was my privilege to do so,” Trump said in a Social Truth post.

🔥 Major Indexes Coming In Hot

• It was a good twist for tech stocks, which got hammered last Friday. But also, futures on the Dow Jones Industrial Average DJI added more than 350 points, or roughly 0.9% and futures tied to the S&P 500 (SPX) climbed over 50 points, or 0.9% as well.
• In other good news, the tech-heavy Nasdaq is coming in hot with a solid 7.2% gain booked last week. The Dow is riding a 3.4% weekly advance and the S&P 500 is sitting on a 5.3% increase.

👀 What to Watch for This Week

• Where are we headed next? Apparently, Trump’s tweets are driving this, or at least helping steer the whole deal (pun intended). But there’s also a batch of economic news coming down the line.
• It may be a shortened trading week but the news is packed and market-moving. The Federal Reserve’s minutes from the latest meeting drop Wednesday. Chip giant Nvidia NVDA will be the thunder, reporting earnings after the bell.
• On Thursday, the US releases its GDP data for the first quarter. And on Friday, the Fed’s favorite inflation measure, PCE, will show whether price pressures kept cooling.