U.S. stock futures are pointing sharply higher after President Donald Trump pushes back the deadline on European Union import taxes to July 9; Tesla ( TSLA ) sales in the EU sink for a fourth straight month; Trump Media & Technology Group ( DJT ) reportedly is planning to raise $3 billion for cryptocurrency purchases; and investors are watching today's consumer confidence report amid sagging sentiment over U.S. tariffs. Here's what investors need to know today.
1. US Stock Futures Point Sharply Higher on Delayed EU Tariffs
U.S. stock futures are pointing sharply higher as investors react to President Donald Trump's announced delay of European Union (EU) import tariffs. Nasdaq futures are 1.6% higher after the tech-heavy index dropped by 2.5% last week. S&P 500 futures and Dow Jones Industrial Average futures are up 1.5% and 1.3%, respectively. Bitcoin (BTCUSD ) is rising slightly to trade at around $109,500. The 10-year Treasury yield and gold futures are declining, while oil futures are little changed.
2. Trump Pushes EU Tariff Deadline Back to July 9
President Donald Trump pushed back accelerated tariffs on EU imports to July 9 on Sunday, two days after an announcement that they'd take effect June 1 sent markets lower ahead of the holiday weekend. "The Commission President said that talks will begin rapidly," Trump wrote in a message on the Truth Social platform, a reference to European Commission President Ursula von der Leyen. "Europe is ready to advance talks swiftly and decisively," von der Leyen wrote in an X post.
3. Tesla EU Sales Sink for Fourth Straight Month
Tesla's ( TSLA ) EU sales sank for a fourth consecutive month in April. Data from the European Automobile Manufacturers' Association showed that Tesla's EU new car registrations, which serve as a proxy for sales, plunged 53% year-over-year to 5,475 vehicles in April and have dropped 46% over the first four months of 2025. The weak sales figures come even though overall battery-electric vehicle (BEV) registrations in the EU jumped 34% in April. Tesla shares are rising 2% in premarket trading amid the broader market rally on the EU tariff deadline extension.
4. Trump Media & Technology Aims to Raise $3B to Buy Cryptocurrency, Report Says
Trump Media & Technology Group ( DJT ) shares surged by nearly 9% in premarket trading after a report that the Truth Social parent looked to raise as much as $3 billion for cryptocurrency investments. The Financial Times reported that Trump Media was seeking $2 billion in equity and $1 billion through convertible bonds to fund the cryptocurrency purchases.
5. May Consumer Confidence Reading Due Today
U.S. consumer confidence is expected to stay steady in May when that data is released at 10 a.m. ET. The report comes as consumer surveys over the past several months have shown elevated public worries over the impact of tariffs, including higher inflation expectations. Economists surveyed by The Wall Street Journal and Dow Jones Newswire forecast that consumer confidence for May will come in at 86.0, the same as April's reading .
Read the original article on Investopedia
