US-EU Trade Talks Accelerate, Global Stocks Rise on Tariff Delay

Australian shares are expected to open higher, influenced by gains in European and US markets amid optimism about accelerated trade negotiations between the EU and the US to avoid steep tariffs. President Donald Trump delayed the implementation of threatened 50% tariffs on the EU, pushing the deadline to July 9, which helped European stocks, including Germany's DAX and France's CAC 40, rise by over 1%. The US Conference Board's Consumer Confidence Index surged in May, reflecting renewed optimism among consumers, enhancing market sentiment despite ongoing tariff uncertainties. European markets ended broadly higher, with the Stoxx Europe 600 up 1%, led by industrial goods and autos, while US and UK markets remained closed for holidays, resulting in lower trading volumes. ASX futures indicate a modest rise, with investors also awaiting local CPI data and corporate earnings reports. The overall market mood suggests a cautious but positive reaction to the easing of trade tensions and improved consumer outlooks.