US futures rise, Asian markets slip as Donald Trump delays EU tariff threat to July

Global markets noticed blended motion on Monday after the US President Donald Trump introduced he would postpone imposing a 50% tariff on European Union items, shifting the deadline from June 1 to July 9. The transfer provided some reduction to traders after Trump had earlier warned that EU commerce talks had been “going nowhere” and threatened steep tariffs.He additionally warned that cell phone producers might face 25% duties until they moved manufacturing to the US, fueling broader market uncertainty.US futures confirmed constructive motion, with S&P 500 futures rising 1% and Dow Jones Industrial Average futures advancing 0.8%.Asian markets displayed different efficiency, with Tokyo’s Nikkei 225 rising 0.7% to 37,427.48 and Seoul’s Kospi rising 1.2% to 2,622.07. However, Hong Kong’s Hang Seng declined 1% to 23,370.94, while Shanghai’s Composite Index decreased 0.3% to 3,338.42. Australia’s S&P/ASX 200 remained comparatively steady at 8,360.70.Friday’s US buying and selling session ended negatively, with the S&P 500 declining 0.7% to 5,802.82, the Dow Jones dropping 0.6% to 41,603.07, and Nasdaq falling 1% to 18,737.21.Apple shares dropped 3%, main S&P 500 losses after Trump’s calls for for iPhone manufacturing relocation to the US, threatening minimal 25% tariffs. He later broadened this stance to embrace all foreign-manufactured smartphones, doubtlessly efficient from June’s finish.The S&P 500 had beforehand skilled a 20% decline from its peak throughout heightened commerce conflict issues, earlier than recovering to inside 3% of its document excessive following Trump’s non permanent tariff suspensions, notably relating to China.In commodity markets, US benchmark crude oil elevated 9 cents to $61.62 per barrel, while Brent crude rose 6 cents to $64.27 per barrel. US greenback slipped to 142.32 yen from 142.55, whereas the euro rose to $1.1411 from $1.1369.

The key market figures as of 0300 GMT: