Today’s stock market update: Global stocks show mixed performance as US futures surge before Wall Street reopens after the holiday.

European shares advanced Tuesday after a mixed and quiet session in Asia following the Memorial Day holiday in the U.S.

U.S. futures and European shares have gained after U.S. President Donald Trump said he would delay a threatened 50% tariff on goods from the European Union.

The EU’s chief trade negotiator said Monday he had “good calls” with Trump administration officials and that the bloc was “fully committed” to reaching a trade deal by a July 9 deadline. Last week, Trump had said on social media that trade talks with the European Union “were going nowhere” and that “straight 50%” tariffs could go into effect on June 1.

The future for the S&P 500 was up 1.5% while that for the Dow Jones Industrial Average gained 1.3%.

Data on U.S. consumer confidence and housing prices were due later in the day.

In London, the FTSE 100 gained 1.1% to 8,818.08, reopening after a British holiday on Monday.

Germany’s DAX added 0.7% to 24,205.92, while the CAC 40 in Paris picked up 0.3% to 7,850.31.

In Asian trading, Japan’s Nikkei 225 reversed early losses to gain 0.5%, closing at 37,724.11 after the central bank’s said he anticipates raising interest rates in coming months due to inflationary pressures.

Bank of Japan Gov. Kazuo Ueda cited rising food prices, with rice prices doubling in the past year, as one factor. Inflation in Japan is now higher than in the U.S. or Europe and above the BOJ’s target level of about 2%.

But the central bank also has to take into account trade policies, he said without directly mentioning Trump’s tariff hikes. Risks from uncertainty for the global economy complicate the BOJ’s goal of raising its very low benchmark interest rate of 0.5%, Ueda said in a speech Tuesday.

“We are now closer to the target than at any time during the last three decades, though we are not quite there. Our recent path has been affected in a unique way by supply shocks,” Ueda said.

Hong Kong’s Hang Seng gained 0.4% to 23,381.99, while the Shanghai Composite index shed 0.2% to 3,340.69.

In South Korea, the Kospi lost 0.3% to 2,637.22.

Australia’s S&P/ASX 200 climbed 0.6% to 8,407.60 and Taiwan’s Taiex lost 0.9%. In India, the Sensex fell 1.2%.

In other dealings early Tuesday, U.S. benchmark crude oil was unchanged at $61.53 per barrel. Brent crude, the international standard, picked up 6 cents to $64.18 per barrel.

The U.S. dollar rose to 143.87 Japanese yen from 142.85 yen. The euro fell to $1.1358 from $1.1388.

The impact on markets from Trump’s decision to delay the threatened 50% tariff on imports from the European Union was relatively calm as investors are growing inured to such policy changes, Stephen Innes of SPI Asset Management said in a commentary.

“Investors know this act by heart,” Innes wrote. “The volatility is still there, but like a horror franchise on its fifth sequel, the jump scares are losing their bite. Panic-selling into a Trump pirouette doesn’t pay like it used to – markets have seen this dance before.”

On Friday, U.S. stocks fell as traders weighed whether Trump’s latest threats were just negotiating tactics.

The S&P 500 lost 0.7% to end its worst week in the last seven. The Dow dropped 0.6% and the Nasdaq composite sank 1%.