04:28 PM EDT, 05/27/2025 (MT Newswires) -- US benchmark equity indexes closed higher on Tuesday, as President Donald Trump extended the deadline for European Union tariffs and US consumer confidence improved ahead of estimates.

The Nasdaq was up 2.5% to 19,199.16, while the S&P 500 increased 2.1% to 5,921.54. The Dow Jones Industrial Average was up 1.8% to 42,343.65. All sectors rose, with consumer discretionary and technology pacing the rally.

US Treasury yields were lower, with the 10-year rate decreasing 6.7 basis points to 4.45% and the two-year rate dropping 1.5 basis points to 3.99%.

July West Texas Intermediate crude oil decreased 0.9% to $61.03 a barrel on Tuesday.

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)."

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 drops, 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 drop 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.

In company news, Hologic ( HOLX ) shares were up 14%, the best performer 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%.

Warner Bros. Discovery ( WBD ) shares rose 6.1% after a box office record three-day Memorial Day weekend in which top 10 films generated $326.7 million in the US and Canada. The company's "Final Destination Bloodlines" and "Sinners" were among the top-grossing films.

DoorDash ( DASH ) shares fell 0.6%. The company said it plans to sell $2 billion of convertible senior unsecured notes due May 15, 2030, in a private offering.

Gold decreased 1.8% to $3,304.40 per troy ounce, while silver was down 0.7% to $33.37 per troy ounce.