The session results indicate that the Dow Jones Industrial Average gained 1.78%, the tech-heavy Nasdaq rose 2.47%, and the broader S&P 500 advanced 2.05%.
“We’ve witnessed a nice recovery, with a return of optimism,” summarized Angelo Kourkafas of Edward Jones in statements to AFP.
On Friday, Donald Trump threatened to impose 50% tariffs on imports from the EU starting June 1st, stating that the ongoing negotiations “were going nowhere.”
However, on Sunday, he agreed to postpone the implementation date of these tariffs until July 9th, following a phone call with the European Commission President Ursula von der Leyen.
“It’s important to note that there is room to negotiate,” emphasized Kourkafas.
“I just learned that the European Union proposed dates for a meeting. It’s a positive development,” said Trump on his social network.
“Investors breathed a sigh of relief upon realizing the situation in Europe de-escalated,” commented Adam Sarhan of 50 Park Investments.
On the other hand, “the first monthly rise in consumer confidence since November reinforced the positive environment” on Wall Street, pointed out Jose Torres of Interactive Brokers.
According to the Conference Board survey, confidence rose to 98 points, an increase of 12.3 from April, after five consecutive months of decline, concerning both the assessment of the present economic situation and the future.
Now, “all eyes are on Nvidia,” according to Sarhan. The group will present its quarterly accounts on Wednesday after the session’s close.
The allure of the semiconductor sector, driven by promises of demand associated with the development of artificial intelligence (AI) and its chip needs, has been questioned in recent months on Wall Street.
Investors reacted sharply to the arrival of DeepSeek, a Chinese AI model claiming performance similar to American counterparts but requiring significantly fewer resources.
Thus, depending on whether Nvidia’s results exceed or fall short of expectations, Wall Street is expected to evolve, Sarhan predicts.
