US stocks jump as Trump touts ‘positive’ progress on EU trade talks

US stocks surged following President Trump’s positive remarks on trade talks with the EU, coinciding with the postponement of proposed 50% tariffs. The S&P 500 climbed 1.6%, led by consumer cyclicals and tech companies, while consumer confidence rebounded in May after five months of decline. Trump’s engagement with the EU, which included a call for quick meetings, and the anticipation of a trade deal contributed to market optimism, with analysts suggesting the tariff threats may not be as severe as initially believed.

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