S&P 500 INDEX (SPX) Live: Market Gains Unleashed on EU Tariff Tailwinds
Key Points
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The markets are widening their lead in a bullish session on a few tariff and economic-related tailwinds.
Live Updates
Goldman Sachs Is Bullish on These 2 Nuclear Stocks
Goldman Sachs in a report is touting nuclear stocks Cameco (NYSE: CCJ | CCJ Price Prediction) and NuScale Power (NYSE: SMR) after President Trump paved the way for friendlier industry regulation. The president has set his sights on strengthening domestic uranium production, placing reactors at military and energy sites, and narrowing the wait time for new reactor license approvals to 18 months, a traditionally cumbersome process. CCJ is up 3.9% today while SMR is soaring by over 14%.
Stocks are in rally mode, with the S&P 500 index tacking on 1.7% today.
Boeing Weighs on Business Orders
Durable goods orders fell 6.3% last month, a softer drop than economists had predicted. However, this dip follows four consecutive months of increases, painting a mixed picture for business spending amid ongoing tariff discussions. Boeing (NYSE: BA) weighed on the overall figures amid a 51% drop in April orders.
This article will be updated throughout the day, so check back often for more daily updates.
Market sentiment is refreshingly bullish, with all three major stock averages widening their lead as the morning unfolds. President Trump’s agreement to delay proposed EU tariffs until July 9 propelled the Dow Jones Industrial Average up as much as 500 points. Further buoying stocks is the latest economic data: May’s Consumer Confidence reading came in stronger than expected at 98, a 12.3-point monthly jump that defied economists’ calls for 86 amid tariff concerns.
The S&P 500 Index ETF (SPX) is currently up 1.5%.
Technology stocks are powering both the Nasdaq Composite and S&P 500 up by 2% and 1.6%, respectively. Despite the nearness of the looming 50% EU import tariff, markets are clearly satisfied with the interim relief, viewing the Trump administration’s EU deal as a promising sign for future trade progress.
On Wall Street, Piper Sandler has reiterated its “overweight” rating on Nvidia (Nasdaq: NVDA) ahead of the AI darling’s crucial quarterly results tomorrow. The firm suggests investors stay long, believing the most challenging period is behind the company.
Other “Magnificent Seven” members are also enjoying gains, with Meta Platforms (Nasdaq: META) and Amazon (Nasdaq: AMZN) both up 1%. Tesla (Nasdaq: TSLA) stands out with a 3.5% rally after Wedbush analysts elevated the EV maker to an AI “pure play” and boosted its price target to $500 per share.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Up 517.91 (+1.2%)
Nasdaq Composite: Up 372.56 (+1.9%)
S&P 500: Up 91.51 (+1.6%)
Market Movers
UBS has upgraded LifeStance Health (Nasdaq: LFST) to a “buy” from “neutral” on a positive long-term forecast, sending its stock up 4%.
Data analytics software specialist Palantir Technologies (Nasdaq: PLTR) is also up 2% today, riding the broader tariff-driven rally.
In airline news, Southwest Airlines (NYSE: LUV) will soon begin charging customers $35 for the first checked bag and $45 for the second, abandoning its signature “bags fly free” policy. This strategic shift is being rewarded by investors, with LUV stock gaining 3%.
Cruise stock Carnival Corp (NYSE: CCL) is rising 5.6% today.
Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.
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