Wall Street recorded a strong session, the first since Trump extended his 50% tariff on the EU from June 1st to July 9th. US consumer confidence also broke a 5 month decline, improving on the back of tariff reprieves between the US and China. S&P 500 up 2.05%, NASDAQ up 2.47%. Dow rose steadily throughout session to end near high. Up 741 points. All sectors up. Growth sectors best performers. News of tariff reprieve outweighed company specific news. Cyclicals were the top performer, boosted by Tesla (+6.9%) despite news the carmakers sales in Europe fell 49% in April from the previous year. Tech followed Cyclicals on the leaderboard. Nvidia up 3.2% ahead of earnings tomorrow Australian time. Alphabet (+2.6%) and Apple (+2.5%) shrugged off Texas law which will enforce age verification on their app stores. Financials also showed further strength as economic outlook improved. All major US banks up over 1.5%. Even Energy stocks were up despite oil falling. Weakest performing sector. Resources down. Dollar strengthening after recent weakness a drag. Oil down as US-Iran talks and OPEC+ plans spark supply concerns. Copper, nickel, iron ore all down.

ASX to rise. SPI futures up 49 points (+0.58%) - CPI today - MIN downgrades

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