US stocks soar on trade hopes, Dow jumps over 700 points, S&P 500 rallies 2%
Published on 28/05/2025 01:50 AM
US stocks soar on trade hopes, Dow jumps over 700 points, S&P 500 rallies 2%S&P 500 rallies 2% after President Trump delays a 50% tariff on goods coming from the European Union.By Ajay Vaishnav May 28, 2025, 1:50:09 AM IST (Published)1 Min ReadUS stocks rallied on Tuesday, lifted by renewed optimism over a potential trade deal between the United States and the European Union. The market received a boost after President Trump announced a delay in the planned 50% tariffs on EU imports.
Investor confidence was further strengthened by a rebound in consumer sentiment. After five straight months of decline, consumer confidence improved in May, aligning with the administration’s decision to scale back its most aggressive tariff proposals.
The Dow Jones Industrial Average jumped approximately 1.8%, gaining more than 700 points by the close. The S&P 500 also posted solid gains, rising about 2.1%, while the Nasdaq Composite, driven by tech stocks, outperformed with a roughly 2.5% increase.
Following the Memorial Day holiday on Monday, markets rebounded sharply from Friday’s declines. The rally was fuelled by easing tensions between the US and the European Union, sparking hopes for progress on trade. Additional momentum came from falling Treasury yields and a strengthening US dollar, as reports suggested Japan may scale back bond issuance in response to recent market turbulence.
Continue ReadingCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!TagsDow Jones Industrial AverageUS markets today