Stock futures jumped Tuesday after President Donald Trump said over the holiday weekend that he agreed to delay tariffs of 50% on the European Union. Dow Jones Industrial Average futures added 517 points, or 1.2%. S&P 500 futures climbed 1.4%, while Nasdaq 100 futures popped 1.5%. Trump on Sunday said that he would push back the 50% levy deadline on the EU to July 9 following a request from Ursula von der Leyen, the president of the European Commission. That comes after Trump last week proposed an import tax of 50% on the EU beginning June 1. On Monday, National Economic Council director Kevin Hasset said on CNBC’s “Squawk Box” that he expects to “see a few more deals even this week.” Tuesday’s action follows a losing week on Wall Street. The Dow, S&P 500 and Nasdaq Composite all slid more than 2% as Trump’s calls for tariffs on the EU, along with Apple, concerned investors. The U.S. stock market was dark on Monday in recognition of Memorial Day. “We’re still wary about chasing the SPX at these levels given complacency around two major areas of macro risk (tariffs and fiscal policy/yields) along with elevated equity valuations. Trump’s most bombastic tariff threats (including the ones Fri morning) won’t become a reality, but he’s still imposed substantial import taxes in just the last four months, and his administration is probably not finished,” wrote Adam Crisafulli of Vital Knowledge. Traders this week will follow earnings from Okta due after the bell Tuesday, followed by companies such as Nvidia, Macy’s and Costco later in the week. More than 95% of S&P 500 companies have reported this earnings season and almost 78% have surpassed analyst expectations, according to FactSet. Treasury yields slipped on Tuesday as markets reopened after the holiday, buoyed by optimism surrounding U.S.-EU trade talks. The 30-year Treasury yield was down 6 basis points at 4.978%. The 10-year Treasury shed 4 basis points to 4.469%. The 2-year yield was less than 1 basis point lower at 3.979%. Asia-Pacific markets traded mixed Tuesday as investors continued to assess the global trade climate after U.S. President Donald Trump deferred 50% tariffs on European Union imports. Japan’s benchmark Nikkei 225 ended the day 0.51% higher at 37,724.11 while the broader Topix index rose 0.64% to 2,769.49. In South Korea, the Kospi index fell 0.27% to close at 2,637.22, reversing course from its three-month high in Monday’s session, while the small-cap Kosdaq moved up 0.25% to 727.11 in choppy trade. Mainland China’s CSI 300 index retreated 0.54% to close at 3,839.40, while Hong Kong’s Hang Seng Index gained 0.43% to end the day at 23,381.99. China’s industrial profits rose 1.4% in April, compared to 0.8% the month before. Meanwhile, India’s benchmark Nifty 50 declined 0.6% while the BSE Sensex dropped 0.79% as at 1.46 p.m. Indian Standard Time. Over in Australia, the S&P/ASX 200 advanced 0.56% to end the day at 8,407.6, signaling the benchmark’s third day in positive territory. Oil prices were little changed on Tuesday on increasing expectations members of the Organisation of Petroleum Exporting Countries and their allies, known as OPEC+, will decide to increase their output at a meeting later this week. Brent crude futures were down 19 cents, or 0.29%, at $64.55 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 25 cents, or 0.41%, to $61.28 a barrel. The WTI contract did not settle on Monday because of the U.S. Memorial Day holiday. Gold prices declined more than 1% on Tuesday as the dollar’s reversal to trade higher added to the pressure on the safe-haven asset following U.S. President Donald Trump’s less aggressive trade stance towards the European Union. Spot gold was down 1.6% at $3,290.59 an ounce. U.S. gold futures fell 2.3% to $3,289.7. Prices had softened on Monday as well after Trump, on Sunday, retreated from his threat to impose new tariffs on the European Union next month, instead reinstating a July 9 deadline for trade negotiations.