India, May 27 -- Stocks are likely to move to the upside in early trading on Tuesday, regaining ground following the steep drop seen last week. The major index futures are currently pointing to a sharply higher open for the markets, with the S&P 500 futures up by 1.4 percent.
The upward momentum on Wall Street comes after President Donald Trump announced he is delaying a threatened 50 percent tariff on imports from the European Union.
"I received a call today from Ursula von der Leyen, President of the European Commission, requesting an extension on the June 1st deadline on the 50% Tariff with respect to Trade and the European Union," Trump said in a post on Truth Social on Sunday.
"I agreed to the extension - July 9, 2025 - It was my pr...