European Shares Seen Mostly Higher At Open

(RTTNews) - European stocks look set to open broadly higher on Monday, though trading volumes are likely to remain thin amid the Memorial Day holiday in the U.S.

Equity index futures climbed as U.S. President Donald Trump delayed the date for a 50 percent tariff on goods from the European Union to July 9 from June 1 after a phone call with European Commission President Ursula von der Leyen.

The head of the EU's executive arm said in a post on X that "Europe is ready to advance talks swiftly and decisively," but "a good deal" will need "time until July 9."

A quarterly earnings release from Nvidia, Fed Chair Jerome Powell's speech. U.S. GDP data, the release of FOMC minutes and the Federal Reserve's preferred inflation measure may garner investor attention as the week progresses.

Asian markets were mixed, with Japan and South Korea leading regional gains while Hong Kong's Hang Seng index was down nearly 1 percent, dragged down by automobile and Apple suppliers.

The dollar index eased to its lowest level since December 2023 and oil eked out modest gains while gold dipped below $3,350 per ounce after climbing more than 2 percent to a two-week peak on Friday.

U.S. stocks ended firmly in the red on Friday as President Trump targeted the European Union and Apple with tariff threats.

He threatened to impose 50 percent tariffs on imports from the European Union beginning June 1st, claiming talks with the bloc are "going nowhere."

Separately, Trump warned that Apple would face a 25 percent tariff on iPhones manufactured outside the United States, sparking debate on manufacturing and job creation.

The tech-heavy Nasdaq Composite shed 1 percent, the S&P 500 dropped 0.7 percent and the Dow dipped 0.6 percent.

European stocks tumbled on Friday due to escalation of trade tensions. The pan European STOXX 600 declined 0.9 percent.

The German DAX slumped 1.5 percent and France's CAC 40 plummeted 1.7 percent while the U.K.'s FTSE 100 eased 0.2 percent.