John Tucker

Good morning, Karen.

Call it a pivot or the taco trade for Trump always chickens out.

The major stock averages in the U.S.

ended yesterday's session up over 1%.

A UBS basket of stocks exposed to tariffs closed 2.7% higher.

Shares of carmakers, which are some of the most vulnerable to tariffs, helping lead gains in Europe this morning.

And with geopolitics on the back burner for now, Alison McCartney at UBS sees the bull rally continuing.

Still, technical signals are flashing caution.

Analysts warn the S&P 500 is approaching a setup that can amplify market swings.

Matt Maley, the chief market strategist at Miller-Tabak, says of the latest market gains, the president merely offset a short-term problem that he himself created.

In New York, I'm John Tucker, Bloomberg Radio.

And Nathan, call it a pivot or the taco trade for a Trump always chickens out.

The major stock averages in the U.S.

ended yesterday's session up over 1%.

A UBS basket of stocks exposed to tariffs that closed 2.7% higher.

Then you have shares of car makers, which are some of the more vulnerable to tariffs.

They're helping lead gains in Europe this morning.

With geopolitics on the back burner for now, Allison McCartney at UBS sees the bull rally continuing.

Still, technical signals are flashing some caution.

Analysts warn the S&P 500 is approaching a setup that can amplify market swings.