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May 27 - Wall Street swung higher Tuesday as President Donald Trump held off on 50% tariffs on the EU until July 9, allowing ongoing trade talks to proceed.
The S&P 500 climbed about 1.5%, the Nasdaq Composite rose 2%, and the Dow Jones Industrial Average gained 1% or 500 points. U.S. markets had been closed Monday for Memorial Day.
Benchmark Treasury yields eased. The 10-year Treasury yield fell five basis points to 4.45%, while the two-year yield dipped two basis points to 3.97%.
Policy swings have left their mark on markets, from aggressive tariff threats to this retreat, said Paul Donovan of UBS.
Last week's ups and downs were driven by debt-ceiling worries and renewed trade fears, noted Deutsche Bank's Jim Reid, who said investors spent Friday digesting fresh tariff headlines.
All eyes now turn to Nvidia (NASDAQ:NVDA), which reports Q1 earnings after Wednesday's close.
Nvidia's results may be the most important event this week, given its huge index weighting and central role in AI, said Robert Ruggirello, chief investment officer at Brave Eagle Wealth Management.
This article first appeared on GuruFocus.