Dow Jones - 42,343.65 (+1.78%) 

Nasdaq - 19,199.16 (+2.47%)

S&P 500 - 5,921.54 (+2.05%)

• A market rally. Stocks rebounded from Friday's sell off as tariffs on the EU were delayed. The Dow Jones Industrial Average ended the day up about 1.8%, or over 700 points, the benchmark S&P 500 closed roughly 2.1% higher, and the Nasdaq Composite led the averages to the upside, rising around 2.5%.
• Consumer confidence rebounded. Confidence in May rebounded after a 5-month negative stretch. According to data released Tuesday by the Conference Board, the consumer confidence index rose by 12.3 points to 98—well above the 87-reading forecast by economists surveyed by Reuters.
• A slide in Treasury yields. The 30-year Treasury yield retreated Tuesday to around 4.94% amid Japan saying it will cut back on bond sales.
• Tariffs on EU delayed. A planned increase to a 50% tariff on all EU goods was delayed from June 1 to July 9—to allow more time for talks. “I received a call today from Ursula von der Leyen, President of the European Commission, requesting an extension on the June 1st deadline on the 50% Tariff with respect to Trade and the European Union,” Trump wrote on Truth Social.  “I agreed to the extension — July 9, 2025 — It was my privilege to do so,” Trump added.
• Important economic data. Investors are shifting focus to a packed week of economic data, with markets also awaiting comments from Federal Reserve officials, who are expected to maintain current interest rates in line with previous guidance. 
• All eyes are on Nvidia tomorrow. The AI giant is set to take center stage on Wednesday with what many consider the most anticipated earnings report of the quarter. 
• Other anticipated earnings. Okta (OKTA), Macy’s (M), and Costco (COST) are also scheduled to release their results this week.
• Tesla (TSLA) shares climbed about 6%. The electric vehicle maker saw its shares rise Tuesday afternoon as investors cheered Musk pledging to dedicate more time to the electric vehicle maker and his other ventures. 
• Palantir stock added 3% to its share price. Investors were optimistic over artificial intelligence and Palantir's positioning for government contracts has lifted shares more than 63% year to date.
• Apple shares modestly jumped back. The stock is still down eight straight sessions. That's the longest stretch since January 2022, according to Bloomberg. Shares are down more than 20% this year. The company is planning a dedicated app for video games on its devices, seeking to sell gamers and developers on the idea that it’s a leader in the market.
• Informatica soared 6.3% in pre-market trading. Reuters reported that Salesforce (CRM) is going to buy the data management platform for roughly $8 billion.
• Newmont fell 2.4% ahead of the open. The gold mining giant fell on the heels of gold falling lower today.
• Boeing shares moved higher. A Barron’s report revealed that the U.S. Department of Justice reached a non-prosecution agreement over the 737 MAX crashes of 2018 and 2019.
• Deckers Outdoor bounced. Shares moved north after falling nearly 20% last Friday after traders were disappointed by the company’s Q1 guidance. Deckers didn't provide full year 2025 guidance due to what it called "macroeconomic uncertainty" but the fiscal first quarter forecast came up short of Wall Street's estimates.
• General Mills made headlines. The company said on Tuesday it would record a charge of about $70 million in its current quarter, mainly reflecting severance expenses, as part of the Cheerios cereal maker's restructuring efforts.
• Chevron narrowly gets authorization. The Trump administration has issued a narrow authorization for U.S. oil producer Chevron to keep assets in Venezuela.
• GM makes a big investment. The company is investing $888 million for engine production at New York facility.
• Shares of Okta plummeted. The identity services company reported better-than-expected Q1 results, but the guidance disappointed investors.
• Box went higher. The company raised its full-year forecast.
• Motorola Solutions announced a big acquisition. The company is acquiring Silvus Technologies for $4.4 billion.

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“The EU and US share the world’s most consequential and close trade relationship. Europe is ready to advance talks swiftly and decisively." 

- Ursula Von der Leyen, president of the European Commission

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Most Active Stocks

• Lucid Group (LCID)
• Ford Motor Company (F)
• Tesla (TSLA)
• Nvidia (NVDA)
• Apple (AAPL)

Weekly Notables

Trump Media Plans $2.5 Billion Raise to Build Major Bitcoin Treasury

Trump Media & Technology Group (DJT) announced Tuesday that it plans to raise $2.5 billion to invest in Bitcoin, aiming to establish one of the largest cryptocurrency treasuries among publicly traded companies. According to a press release, the funding will come from approximately 50 institutional investors and includes $1.5 billion in common stock and $1 billion in convertible senior secured notes. The deal is expected to close around May 29.

Former Volkswagen Executives Get Prison Sentences

Four former Volkswagen executives were sentenced to prison this week for their involvement in the company’s diesel emissions-cheating scheme. The verdict was delivered after a three-year trial in Braunschweig, Germany.

Jens Hadler, who led VW’s diesel engine development, received the longest sentence—four and a half years—for what the court described as “particularly serious” fraud.  

Earnings Spotlight: Nvidia 

Nvidia will be the most highlighted earnings report this week as the company releases today after the close. For the quarter ended in April, analysts expect Nvidia to report $43.28 billion in revenue—a 66% year-over-year increase, according to LSEG. While impressive, it’s a sharp slowdown from the more than 250% growth seen a year ago. Projections for the current quarter and fiscal year suggest revenue growth in the 50–55% range, highlighting lingering uncertainty from the new export restrictions.