05:01 PM EDT, 05/27/2025 (MT Newswires) -- US stock markets jumped on Tuesday, with the Dow Jones Industrial Average and the S&P 500 registering their first gains in five days as President Donald Trump extended his European Union tariffs deadline.

The S&P 500 rose 2.1% to 5,921.5, while the Dow advanced 1.8% to 42,343.7. The Nasdaq Composite was up 2.5% at 19,199.2. All sectors were in the green, led by consumer discretionary.

US markets were closed Monday in observance of Memorial Day.

Over the weekend, Trump agreed to extend the 50% tariffs deadline for the EU to July 9 from June 1, following a request by European Commission President Ursula von der Leyen.

"I have just been informed that the EU has called to quickly establish meeting dates," Trump said in a social media post Tuesday. "This is a positive event, and I hope that they will, finally, like my same demand to China, open up the European nations for trade with the (US)."

Earlier in the month, Washington and Beijing agreed to suspend most levies on each other's goods for 90 days.

US Treasury yields were mixed, with the 10-year rate decreasing 6.7 basis points to 4.44% and the two-year rate flat at 3.98%.

In economic news, US consumer confidence rebounded by more than Wall Street's expectations in May as easing trade tensions between the US and China helped lift sentiment, the Conference Board reported.

Confidence improved following five straight months of declines, said Stephanie Guichard, senior economist of global indicators at the Conference Board. "The rebound was already visible before the May 12 US-China trade deal, but gained momentum afterwards."

US durable goods orders fell less than expected in April despite a sizable decline in transportation equipment, especially the nondefense aircraft component, government data showed.

Although orders didn't decline as much as projected last month, "the underlying trend in equipment demand is weak amid policy uncertainty and a fading boost from tariff front-loading in certain sectors," Oxford Economics said.

West Texas Intermediate crude oil was down 0.8% at $61.06 a barrel.

In company news, Hologic ( HOLX ) shares soared nearly 15%, the top gainer on the S&P 500. Blackstone (BX) and TPG (TPG) have offered to acquire the medical technology company for more than $16 billion and take it private, the Financial Times reported. Hologic ( HOLX ) rejected the non-binding offer. Blackstone shares were up 2.3%, while TPG rose 2.5%.

Salesforce ( CRM ) agreed to acquire cloud data management firm Informatica (INFA) in a deal worth about $8 billion as the customer relationship management platform looks to bolster its artificial intelligence offerings. Salesforce ( CRM ) shares were up 1.5%, while Informatica jumped 6.1%.

PDD's (PDD) US-listed shares plunged 14% after the Chinese e-commerce platform logged weaker-than-expected first-quarter results amid challenges in the "external environment" and the company's investments in its platform.

Gold was down 1.9% at $3,329.90 per troy ounce, while silver lost 0.7% to $33.37 per ounce.