Mumbai, May 28 -- The Nasdaq shot up 461.96 points (2.5%) to 19,199.16, the S&P 500 surged 118.72 points (2.1%) to 5,921.54 and the Dow jumped 740.58 points(1.8%) to 42,343.65.

Wall Street rallied after Trump delayed the 50% EU tariff to July 9, 2025, following a request from EU Commission President von der Leyen. He said talks would begin quickly and hoped the EU, like China, would open up to U.S. trade.

Conference Board released a report showing a substantial improvement by U.S. consumer confidence in the month of May in response to which a positive sentiment was recorded. It also said it's confidence index spiked to 98 in May after plunging to a downwardly revised 85.7 in April.

Airline stocks turned in some of the market's best per...