FX.co ★ US Stocks Start Week Sharply Higher

On the first trading day of the week, U.S. stocks saw a significant upswing, mirroring the upward trend in Treasury securities as market concerns over a potential new trade war eased. The S&P 500 rose by 2%, the Dow Jones increased by 1.8%, and the Nasdaq 100 advanced by 2.4%. President Donald Trump decided to postpone the implementation of a 50% tariff on the European Union, now set for July 9th, while expressing optimism about reaching a trade agreement to avoid further trade barriers. Meanwhile, long-term Treasury securities experienced a moment of relief as Japan indicated a potential reduction in long-term debt issuance, which benefited U.S. credit-sensitive stocks. Tesla's stock rose by 6.5% after CEO Elon Musk announced he would refocus on his businesses and reduce political engagements. Nvidia also saw a 3% increase, leading the chipmaker sector ahead of its upcoming earnings report this week. Additionally, U.S. Steel's stock closed 2% higher at $53 following reports of a possible acquisition by Nippon Steel at $55, along with the provision of a golden share to the U.S. government.