Investors on Tuesday celebrated President Donald Trump’s walkback of his threat of 50% tariffs on EU goods by sending U.S. stocks skyward.
The S&P 500 rose 2.1%, putting it within 3.7% of its all-time high. The Dow gained 1.8%, and the Nasdaq rose 2.4%. Stocks also got a boost from May consumer confidence numbers, with the Conference Board reporting on Tuesday that consumer confidence surged after five months of decline. It rose 12.3 points, to 98—near its pre–”Liberation Day” levels.
