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

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American stocks rose after president Donald Trump indicated that commercial talks with the European Union were advancing in a “positive” direction, a day after agreeing to his threatened delay by 50 percent on the bloc.

S&P 500 closed 2.1 percent higher on Tuesday, with consumer companies and sensitive technology economically among the largest winners. All sectors of the 11th index ended the session in positive lands.

The heavy nasdaq compound in technology added 2.5 percent. In the currency markets, the dollar index increased by 0.4 percent.

These moves came at a time when the data that was issued after the market showed us the confidence of the consumer in May after five consecutive months of declines, and hours after Trump said on social media he had reported that “the European Union had called for the establishment of the meeting’s dates quickly” with the United States.

“This is a positive event, and I hope that, in the end, like my own request to China, the European countries to trade with the United States of America,” the president said in a position on the social truth.

Trump agreed during the weekend to delay the proposed definitions by 50 percent on the European Union and expand commercial negotiations until July 9 after a conversation with European Commission President Ursula von der Lin. On Friday, the European Union attacked when he claimed that it was unfair commercial practices.

“I put a missile on the negotiations and made the Europeans respond in a more proactive way,” said Caroline Show, Fidelity International Manager. “The pace of the deal seems important to the markets.”

Stoxx EUROPE 600 in Europe increased by 1.3 percent this week, more than its decline on Friday after Trump’s first proposal by 50 percent.

DAX closed in Germany 0.8 percent higher on Tuesday to a record level.

“Everyone has become convinced that Trump’s introductory talk is everything that does not indicate anything,” said Peter Chore, head of the total strategy at the Securities Academy.

“There will be a tariff, but we will not create these huge tariffs that will be disastrous for the economy. We will not see 50 percent levels.”

There was a set of American tariff ads that start in early April on the morale of consumer and commercials all over the world, as it wanders in American stock markets and withdrawing the dollar less against other major currencies.

But surveying consumer confidence in May, published on Tuesday, showed a sharp recovery in feelings.

“The bounce was already visible before the American -Chinese commercial deal on May 12, but it gained momentum after that,” said Stephanie Gwechadd, chief economist at the Conference Council.

“The monthly improvement was largely driven by consumer expectations, as all the three components of the expectations index – work conditions, employment prospects and future income – rose from their lowest levels in April.”

The return on US Treasury bonds was less, indicating high prices, through the eligibility spectrum. The return on the treasury fell for 30 years, which increased sharply over the past month amid fears of the United States’s enlarged deficit, by 0.09 percent to 4.94 percent on Tuesday.

Treasury movements followed a wider recovery in government bond prices on Tuesday after Japan said it was considering reducing the release of bonds.