07:11 AM EDT, 05/27/2025 (MT Newswires) -- The benchmark US stock measures were trending higher before Tuesday's opening bell, buoyed by President Donald Trump's decision to postpone 50% tariffs on the European Union to July.

The S&P 500 rose 1.5%, the Dow Jones Industrial Average gained 1.3% and the Nasdaq increased 1.7% in premarket activity. The indexes closed Friday's trading session in the red. US markets were closed on Monday for Memorial Day.

Trump said over the holiday weekend that he agreed to extend the tariff deadline of June 1 on the EU to July 9 following a request by European Commission President Ursula von der Leyen, according to a Truth Social post. Last week, Trump recommended the 50% tariff rate on the EU, saying that talks with the bloc had stalled.

"I agreed to the extension -- July 9, 2025 -- it was my privilege to do so," Trump said in his social media post. "The Commission President said that talks will begin rapidly."

In a Monday post on X, Von der Leyen said Europe was "ready to advance talks swiftly and decisively." The EU needed the extended time to reach a "good deal," she added.

Earlier in the month, the US and China agreed to suspend most levies on each other's goods for 90 days, while Washington, DC, also reached a trade deal with the UK.

US Treasury yields were down premarket, with the two-year rate dipping 0.4 basis point to 3.98% and the 10-year rate retreating 4.6 basis points to 4.47%.

The durable goods orders report for April is set to be released at 8:30 am ET, followed by the Case-Shiller Home Price Index and the Federal Housing Finance Agency House Price Index, both for March. The Conference Board's consumer confidence report and the Dallas Fed manufacturing survey, both for May, are also due on Tuesday.

The Federal Reserve is scheduled to post minutes of its last policy session on Wednesday, which will be assessed for clues on the central bank's monetary policy. Richmond Fed President Thomas Barkin is slated to speak Tuesday at 9:30 am, while New York Fed President John Williams speaks at 8 pm.

Shares of Nvidia ( NVDA ) were up 2.7% pre-bell, with the tech bellwether expected to report its latest quarterly results on Wednesday. Tesla (TSLA) inclined 2.8% even after sales in Europe plunged 46% in April while UnitedHealth Group ( UNH ) advanced 2.5%. Palantir Technologies ( PLTR ) rose 3.4%.

PDD Holdings ( PDD ) , AutoZone ( AZO ) and Champion Homes ( SKY ) report their latest earnings before the bell, among others. Heico ( HEI ) and Okta ( OKTA ) release financial results after the markets close.

West Texas Intermediate crude oil dipped 0.2% to $61.40 a barrel before the open. Gold dropped 2.2% to $3,293 per troy ounce, while bitcoin increased 0.6% to $109,756.