Stocks Rise After Trump Agrees to Delay EU Tariffs
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Brought to you by the Remax Collection. Visit Remax.com slash luxury. Each office independently owned and operated. Here's your closing bell brief for Tuesday, May 27th. I'm Mariana Aspudu for The Wall Street Journal. U.S. stocks rose after President Trump agreed over the weekend to delay 50% tariffs on the European Union until July 9th.

The Dow Jones Industrial Average gained 741 points to close at 42,344, or 1.8%. The S&P 500 was up 119 points, or 2.1%. And the Nasdaq advanced 462 points, or 2.5%. U.S. home prices posted the first monthly decline on a seasonally adjusted basis since January 2023.

Prices fell 0.3 percent in March from February. Among individual companies, Tesla CEO Elon Musk said in a social media post that he was back to spending 24-7 at work. Shares of the company rose as a result. And President Trump's delay of the implementation of 50 percent tariffs on the European Union also helped the stock. Despite separate data showing Tesla's European Union sales slumped for a fourth straight month.

Tesla's U.S. stock ended the day up 6.9%. Timu's Chinese owner, PDD, said its profit dropped nearly 50% in the first quarter and expects growth to slow. Increasing competition in China and new U.S. tariffs led to the company's slowest sales growth since 2022. Shares of the retailer were down about 14%.

And Trump Media, the company behind Trump's Truth Social platform, plans to raise about $2.5 billion from investors to buy Bitcoin. The company said the investment closes in on its strategic acquisition fund created to buy, merge, or join companies that align with the president's America First policies.

Trump media stock ended the day down 10.4%. We'll have a lot more coverage of the day's news on the WSJ's What's News podcast. You can add it to your playlist on your smart speaker or listen and subscribe wherever you get your podcasts. Think about a bicycle.

It takes balance to get where you want to go. Now think about business. Whatever your business or organization, you ride the line between numbers and people. Just like the bike, it takes balance. CLA, CPAs, consultants, and wealth advisors. We'll get you there. CLA, Clifton, Larson, Allen, LLP is an independent network member of CLA Global. Investing involves risk, including risk of loss. Investment advisory services are offered through Clifton, Larson, Allen, Wealth Advisors, LLC, and SEC Registered Investment Advisor.