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US President Donald Trump’s announcement over the holiday weekend that he would delay a planned 50% tariff on the European Union lifted sentiment on the Wall Street with key indices settling near day’s high and all sectors settling in the green. The Dow Jones Industrial Average jumped 740 points, or roughly 1.8%, while the S&P 500 climbed 2.05%, ending a four-day losing streak for both indexes. The Nasdaq Composite rose 2.47%, driven by strong gains in technology stocks, including Tesla. Trump said Sunday he would postpone the tariff deadline to July 9, following a request from European Commission President Ursula von der Leyen. The delay comes after Trump proposed the steep import tax last week, originally set to take effect on June 1. Tesla stock soared 7% as Elon Musk said he will devote more time to his businesses.

23andMe announced Tuesday that it will voluntarily delist from the Nasdaq and deregister with the U.S. Securities and Exchange Commission, according to a company statement.

The decision follows news that Regeneron Pharmaceuticals will acquire “substantially all” of 23andMe’s assets for $256 million. The acquisition comes after a bankruptcy auction, held as part of 23andMe’s Chapter 11 proceedings filed in March.

Once a high-profile player in the genetic testing industry, 23andMe has struggled in recent years, ultimately leading to the sale of its core assets to the drugmaker.

Oil slipped as the looming prospect of another major OPEC+ production increase overshadowed easing trade tensions between the European Union and the US. West Texas Intermediate fell 1% to settle below $61 a barrel after a quiet session on Monday due to holidays in London and New York. The dollar advanced, making commodities priced in the currency less attractive. Oil has trended lower since mid-January as OPEC and its allies have pushed to restore idled supply faster than the market had expected, just as the global trade war threatens demand. Prices have largely stabilized near $61 as traders await the next output move from the cartel, due in the coming days.

Citigroup said on Tuesday its Polish unit has agreed to sell its consumer banking business in the country to Velobank, as the Wall Street giant nears the end of a years-long effort to exit non-core retail banking markets.

The third-largest U.S. lender added that while the transaction is financially immaterial to the company, it is expected to result in a modest regulatory capital benefit at closing.

A record-breaking domestic box office over Memorial Day weekend sent shares of movie theater companies higher on Tuesday. AMC’s stock soared 22%, Cinemark rose 3% and Marcus Theatres’ parent company Marcus Corporation popped 10%.

President Trump’s tariffs continued to be felt by importers in May with a measure of government receipts for “Customs and Certain Excise Taxes” already topping $22.3 billion this month, according to Treasury Department data. The monthly total is likely to rise only slightly in the coming days, with importers often depositing their tariff duties largely in a single day. A massive deposit of more than $16.5 billion appeared in government coffers on May 22.

Taiwan’s president on Tuesday pledged to buy more American goods, including natural gas and oil, as the self-governing island seeks closer ties with the U.S. while threatened with a 32% tariff from the Trump administration.

By purchasing more U.S. products that also include weapons and agricultural goods, Taiwan would not only create “more balanced bilateral trade” with the U.S. but also boost its energy autonomy and resilience, said Lai Ching-te, the island’s leader, while hosting a U.S. congressional delegation.

Lai also said the island would be willing to participate in U.S. efforts to reindustrialize and to lead the world in artificial intelligence.

Elon Musk’s brain implant company Neuralink raised $600 million in a deal that values the company at $9 billion before the new cash, Semafor reported on Tuesday, citing people with knowledge of the matter. The startup was estimated to be valued at $5 billion in 2023, based on privately executed stock trades described to Reuters. The company had previously raised $280 million in a funding round led by Peter Thiel’s Founders Fund.

Nvidia’s (NVDA) revenue from China is set to hit $6.2 billion in the AI chipmaker’s first quarter, accounting for over 14% of total revenue, according to consensus estimates from Wall Street analysts tracked by Bloomberg. That’s for the three months ending in late April, when Trump enacted a ban on sales of Nvidia’s H20 chips to China. China is one of Nvidia’s biggest markets, and investors are closely watching the company’s commentary during its upcoming earnings report on Wednesday about how the ban will impact future sales.

The S&P 500 surged on Tuesday, driven by a broad-based rally that saw over 90% of its constituent stocks trading in the green. All 11 sectors of the benchmark index posted gains, signaling widespread market strength. The index climbed roughly 2%, poised to break a four-day losing streak.

Tesla shares surged 5% after CEO Elon Musk announced he is turning his attention away from politics to concentrate more fully on his businesses. The move reassured investors who have been closely watching Musk’s public engagements and their potential impact on Tesla’s performance.

Despite growing political pressure and fresh tariff threats, Morgan Stanley believes Apple is unlikely to shift its iPhone production back to the United States anytime soon. In a note to clients, the Wall Street firm reiterated its overweight rating on Apple, citing that the company’s current valuation already factors in the potential impact of a 25% import duty.

According to CNBC US, Morgan Stanley analysts argued that the logistical and time-to-market challenges of domestic production outweigh the financial incentive of avoiding tariffs. “While ‘time to market’ of a US-produced iPhone is one major impediment, our math says a 25% tariff on iPhone imports isn’t enough incentive for Apple to reshore US-bound iPhone production,” the firm said.

Tech-heavy Nasdaq led the gains, although some of its Chinese constituents dragged on performance. JD.com fell 2.55% to $32.50, while Alibaba slipped 0.89% to $119.66. Despite these losses, strong momentum in other segments of the market kept overall sentiment buoyant.

Falling yields provided a tailwind for equities, particularly in rate-sensitive sectors. Investors appeared to shrug off mixed signals from global markets, focusing instead on easing inflation expectations and optimism around AI-driven growth.

US markets surged today with all major indices closing sharply higher, even as select tech giants saw notable declines. The rally was supported in part by a dip in Treasury yields, with the 10-year note falling 1.53% to 4.44%, helping ease concerns over borrowing costs.

Index Performance:

Dow Jones: +1.59% to 42,265.71

Nasdaq: +2.29% to 19,165.48

S&P 500: +1.87% to 5,911.36

Consumers could trim spending in the months ahead amid macroeconomic uncertainty and evolving White House policy, according to Barclays, as per a CNBC report.

Dutch pension fund PME is issuing a blanket warning to US money managers, amid concerns America’s investment industry is caving in to pressure from the Trump administration to abandon basic principles of stewardship, according to a Bloomberg report. They “aren’t condemning what Trump is doing and how he is operating and how he is handling issues like climate change and demolishing the judiciary,” Daan Spaargaren, senior strategist for responsible investing, said in an interview. “We are worried about that.” PME, with assets under management of about €57 billion ($65 billion), is the latest in a string of pension funds in Europe to express such concerns.

Tesla shares advanced when CEO Elon Musk said he would move away from politics and be more involved with his businesses.

Small-cap stocks rallied strongly during Tuesday’s broad market upswing. The Russell 2000, which tracks small-cap companies, gained 1.7% by late morning trading. This boost pushed the index’s gains to over 5% for May, although it remains about 7% lower year-to-date in 2025.

Trump Media announced Tuesday a $2.5 billion raise from institutional investors to bankroll one of the largest bitcoin treasury allocations by a public company, according to a CNBC report. Shares of the company fell about 10% following the news.

US President Donald Trump said Tuesday he welcomed the European Union, after he agreed to delay a 50% tariff on goods from the bloc until July 9.

“I have just been informed that the E.U. has called to quickly establish meeting dates,” Trump wrote in a post on the Truth Social platform.

“This is a positive event, and I hope that they will, FINALLY, like my same demand to China, open up the European Nations for Trade with the United States of America.” Trump also said Tuesday that the EU had been “slow walking” in negotiations with the White House over a trade deal.

Salesforce announced Tuesday that it’s buying cloud data management firm Informatica in an $8 billion deal to bolster the enterprise software giant’s push into artificial intelligence. Shares of Salesforce were up 1% on Tuesday. Informatica stock climbed more than 5%. “Truly autonomous, trustworthy AI agents need the most comprehensive understanding of their data,” said Steve Fisher, Salesforce president and chief technology officer, in a release announcing the deal. “The combination of Informatica’s advanced catalog and metadata capabilities with our Agentforce platform delivers exactly this.” Under the terms of the deal, holders of Informatica’s Class A and Class B-1 common stock will receive $25 in cash per share, according to the release.

Trump Media & Technology Group (DJT) is doubling down on cryptocurrency, unveiling plans Tuesday to create what it claims will be one of the largest bitcoin treasuries held by any public company. The initiative is backed by a $2.5 billion private funding round, with commitments from roughly 50 institutional investors, according to a company press release. The deal includes $1.5 billion in Trump Media common stock and $1 billion in convertible senior secured notes, set to close on or around May 29.

Japan’s Nippon Steel is expected to acquire U.S. Steel for $55 per share, sources familiar with the matter told CNBC’s David Faber, according to a report on the website. President Donald Trump cleared Nippon’s bid for US Steel on Friday, referring to the deal as a “partnership.” Trump said Nippon will invest $14 billion of investment over the next 14 months. US Steel’s headquarters will remain in Pittsburgh, the president said. US Steel shares were up more than 1% on Tuesday.

After five straight months of declines, consumer confidence rebounded in May as President Trump peeled back his most aggressive stances on tariffs. The latest index reading from the Conference Board was 98 in May, well above the 85.7 seen in April and the 87.1 economiss had expected. The expectations index surged off its 13-year low seen in April, reaching 72.8 May, far above the 55.4 seen the month prior.

Stocks on Wall Street reacted positively on Tuesday after President Donald Trump said over the holiday weekend that he agreed to delay tariffs of 50% on the European Union. The Dow Jones Industrial Average traded 400 points higher, or around 1%. The S&P 500 gained 1.1%, and the Nasdaq Composite popped 1.4%. Tuesday’s action follows a losing week on Wall Street. The Dow, S&P 500 and Nasdaq Composite all slid more than 2% as Trump’s calls for tariffs on the EU, along with Apple, concerned investors. The US stock market was shut on Monday in recognition of Memorial Day.

New orders for key US-manufactured capital goods fell in April, suggesting business spending on equipment weakened at the start of the second quarter.

Non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, tumbled 1.3% last month after an upwardly revised 0.3% gain in March, the Commerce Department’s Census Bureau said on Tuesday. Economists polled by Reuters had forecast these so-called core capital goods orders dipping 0.1% after a previously reported 0.2% drop in March.

An upbeat earnings report by Nvidia Corp. (NVDA) would bode well for a rally in US equities as investors have about $7 trillion parked in cash funds, according to BBVA strategists, as per a Bloomberg report. Institutional positioning in the US technology sector is “undemanding” with hedge funds and mutual funds still substantially underweight, strategist Michalis Onisiforou said. Exposure of trend-following Commodity Trading Advisors (CTA) to the broader stock market is also neutral, while volatility control funds have plenty of room to add to risk, he said.

Xiaomi Corp. reported better-than-expected revenue in the March quarter as it moves to aggressively expand its presence in China’s EV market and grow its core smartphone business, according to a Bloomberg report. Revenue rose to 111.3 billion yuan ($15.5 billion), Xiaomi said in a statement Tuesday, beating the average analyst estimate of 109 billion yuan, the report added. The company recorded 75,869 deliveries of its SU7 sedan during the period. Its Internet of Things division, which sells products ranging from home appliances to wearable tech, was a strong performer with revenue growth of nearly 60% from a year earlier, the report further added.

Apple Inc shares are coming off their longest selloff in more than three years, as escalating attacks from the White House threaten to further erode the company’s profit outlook, suggesting the stock’s struggles this year are far from over, according to a Bloomberg report. Apple is the worst-performing Magnificent Seven stock this year, and its 2025 drop of 22% stands in stark contrast to the 0.5% decline of the Nasdaq 100 Index, the report said. The stock has broken under key moving averages, but isn’t yet at the level that would indicate oversold conditions, based on its 14-day relative strength index. The CBOE Apple VIX, which tracks a market estimate of future volatility for the stock, jumped more than 30% last week.

Nippon Steel is considering offering a so-called golden share in US Steel (X) to the US government in order to finalise its long-sought acquisition of the iconic American firm, Japan’s Nikkei newspaper reported on Tuesday. Deliberations over the idea, which would give Washington the power to veto important management matters, were also reported by Japan’s Kyodo news agency. Neither outlet cited sources for the information.NewsLive TVMarketPopular CategoriesCalculatorsTrending NowLet's Connect with CNBCTV 18Network 18 Group :©TV18 Broadcast Limited. All rights reserved.