Stock futures are pointing to a sharply higher open for major U.S. indexes on Tuesday as investors react to the latest back-and-forth from the Trump administration on trade.

Wall Street's major averages were substantially higher on Tuesday, as sentiment was boosted by positive trade developments between the U.S. and the European Union (EU). Returning from a long holiday weekend due to Memorial Day,

The Dow Jones is up over 650 points from last Friday’s close, forming a technical rejection of the 200-day Exponential Moving Average (EMA) and reclaiming the 42,250 level for the third time this month. The major equity index remains down from its most recent highs near the 42,800 region, but momentum favors further upward moves.

Follow all the latest U.S. market action for Tuesday here as Wall Street returns from a long weekend with bulls once again on the front foot as trade fears fade.

Trump’s tariffs and the trade war continue to impact global markets. Follow along for live updates on the Dow, S&P 500 and Nasdaq.

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Trump’s tariffs and the trade war continue to impact global markets. Follow along for live updates on the Dow, S&P 500 and Nasdaq.

Powered by positive gains for shares of Nike and NVIDIA Corp., the Dow Jones Industrial Average is rallying Tuesday afternoon. The Dow was most recently trading 622 points (1.5%) higher, as shares of Nike and NVIDIA Corp.