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Wall Street kicked off the week with a rally in stocks as consumer confidence rebounded sharply while the US and the European Union sped up trade talks. A global surge in bonds also helped sentiment.
As equities halted a four-day slide, the S&P 500 climbed 2%. Nvidia Corp. paced gains in megacaps ahead of its results. Treasuries got a boost, pushing the 30-year yield below 5% on signs Japan will be ready to calm jittery debt markets. The moves in the US extended after a sale of two-year notes was met with solid bidding metrics. The dollar rose against all developed-market currencies.
President Donald Trump noted he was encouraged the EU is speeding up negotiations on trade, days after he said the bloc would face 50% tariffs if they fail to reach a deal with the US. Trump extended a deadline for those taxes to take effect to July 9 after a call with European Commission President Ursula von der Leyen.
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