Trump-EU talks advance, India in play, Chevron Venezuela deadline: Live Updates
President Trump and the European Union make strides in trade talks, along with India. Chevron deadline on Venezuela approaches. Here at home, Bitcoin 2025 on tap, along with durable goods data. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
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Investors celebrated early Tuesday after President Donald Trump, over the long weekend, agreed to a request for an extension on a proposed 50% tariff on imports from the European Union, which he initially threatened would go into effect on June 1.
Trump, in another Truth Social Tuesday morning, said the EU is moving quickly to establish dates.
"I was extremely satisfied with the 50% Tariff allotment on the European Union, especially since they were “slow walking (to put it mildly!), our negotiations with them. Remember, I am empowered to “SET A DEAL” for Trade into the United States if we are unable to make a deal, or are treated unfairly. I have just been informed that the E.U. has called to quickly establish meeting dates. This is a positive event, and I hope that they will, FINALLY, like my same demand to China, open up the European Nations for Trade with the United States of America. They will BOTH be very happy, and successful, if they do!!!
Stocks finished higher on Tuesday after President Donald Trump agreed to delay tariffs of 50% on the European Union and a better-than-expected jump in consumer confidence.
The Dow Jones Industrial Average closed higher by more than 740.58 points, or 1.78%, while the S&P 500 and Nasdaq Composite climbed 2.05% and 2.47%, respectively.
Trump announced the tariff extension in a Truth Social post on Sunday, saying that he had a productive phone call with von der Leyen.
"I agreed to the extension — July 9, 2025 — It was my privilege to do so," Trump wrote. "The Commission President said that talks will begin rapidly."
The European Union on Monday agreed to fast-track trade talks with the U.S. following Trump's threats of yet further sanctions against the region.
"These negotiations are complex, and so they are taking time," commission spokeswoman Paula Pinho told reporters. "There’s now also a new impetus for the negotiations and we will take it from there."
Meanwhile, U.S. consumer confidence increased much more than expected in May after five straight months of declines.
The Conference Board said on Tuesday its consumer confidence index increased 12.3 points to 98 this month. Economists polled by LSEG expected an increase to 87.
Symbol | Price | Change | %Change |
---|---|---|---|
AMC | $3.96 | 0.72 | 22.38 |
IMAX | $27.94 | 0.97 | 3.60 |
CNK | $33.47 | 1.02 | 3.14 |
Memorial Day weekend was an impressive one for U.S. theater stocks. For AMC, it was a "record breaking" weekend, with over 7 million moviegoers visiting U.S. and global locations for AMC and ODEON thanks to Disney's Lilo & Stich and Tom Cruise's Mission Impossible - the Final Reckoning.
“Finally it would appear that our industry has turned a corner. Since early April, weekend after weekend, moviegoers have been demonstrating their preference for theatrical moviegoing. A record-setting Memorial Day holiday is yet another sign of the continued strength and relevance of moviegoing in 2025. With many more potentially huge movies coming in June all the way through the end of 2025, and beyond that deeply into 2026 as well, we firmly expect to be enjoying a robust theatrical box office as we look ahead" "AMC Chairman and CEO Adam Aron said in a statement.
McDonald's spinoff, CosMc's came with much fanfare, boosted by its unique drinks. Now, the fast-food had made the decision to end the chain.
McDonald's shares have gained nearly 9% this year, outperforming the broader S&P 500.
Salesforce announced on Tuesday that it is buying data-management software firm Informatica in a deal valued at $8 billion.
Under the agreement, Salesforce will acquire all outstanding shares of common stock of Informatica that it does not already own. Informatica's shareholders will receive $25 in cash per share, the companies said.
The transaction, which has been approved by the boards of directors of both Salesforce and Informatica, is expected to close in fiscal year 2027.
The companies said Informatica’s data catalog, data integration, governance, quality and privacy, metadata management and master data management services combined with the Salesforce platform "will establish a unified architecture for agentic AI – enabling AI agents to operate safely, responsibly, and at scale across the modern enterprise."
Salesforce shares rose Tuesday morning following the announcement.
This is an excerpt from an article by FOX Business' Daniella Genovese
Discount carrier Southwest Airlines has scrapped its generous bag policy - here's what it will cost travelers under the new guideline:
Shares of Southwest, along with other major U.S. carriers rallied Tuesday along with the broader market.
Symbol | Price | Change | %Change |
---|---|---|---|
LUV | $32.49 | 1.54 | 4.98 |
UAL | $79.20 | 4.55 | 6.10 |
DAL | $49.81 | 1.89 | 3.94 |
AAL | $11.68 | 0.48 | 4.33 |
JBLU | $5.20 | 0.27 | 5.38 |
U.S. consumer confidence increased much more than expected in May after five straight months of declines.
The Conference Board said on Tuesday its consumer confidence index increased 12.3 points to 98.0 this month. Economists polled by LSEG expected an increase to 87.0.
The Trump administration is reportedly preparing to issue a limited license to Chevron to allow the oil giant to conduct minimal maintenance of its operations in Venezuela, FOX Business has learned.
This, as a Biden-era deal letting the company operate in the South American nation is set to expire today. Chevron - the last remaining American oil producer in Venezuela - is only allowed to export that country’s oil to the U.S., but has been under pressure by the Trump administration to halt drilling there. Amid talks of an extension, Secretary of State Marco Rubio last week said the “pro-Maduro Biden oil license” in Venezuela will “expire as scheduled.”
Chevron CEO Mike Wirth, in a recent interview with FOX Business, has warned China is ready to fill the gap should the company be forced out of the country.
Shares are down 7% this year, more than the 1% drop for the S&P 500.
Bitcoin 2025, the marquee industry event, kicks off in Las Vegas with Vice President JD Vance as the keynote.
The conference, which has hosted President Trump in past years, comes as the cryptocurrency recently hit an all-time high of $111,000+ before easing from those levels and as Congress passed the GENIUS Act, the first legislation to map out a framework for stablecoin.
Federal Reserve Chairman Jerome Powell may be the world's most powerful central banker today, but he was a kid once too, he told graduates as commencement speaker at Princeton University.
Powell talked about his love of guitar playing and being unfocused as a student. Still, his final path has yielded much success despite being a punching bag for President Donald Trump.
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