Stock futures are pointing to a sharply higher open for major U.S. indexes on Tuesday as investors react to the latest back-and-forth from the Trump administration on trade.

The Dow Jones is up over 650 points from last Friday’s close, forming a technical rejection of the 200-day Exponential Moving Average (EMA) and reclaiming the 42,250 level for the third time this month. The major equity index remains down from its most recent highs near the 42,800 region, but momentum favors further upward moves.

U.S. stocks were trading at session highs at midday, extending early gains triggered after President Donald Trump over the weekend said he would pause plans for a 50% tariff on European Union imports that he had announced at the end of last week from June 1 to July 9.

Trump’s tariffs and the trade war continue to impact global markets. Follow along for live updates on the Dow, S&P 500 and Nasdaq.

UnitedHealth has gone from bad to worse, and its drop is impacting the Dow Jones Industrial Average even more than it is the S&P 500.

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Things are starting to look up for stocks again, with the S&P 500 recovering all of the ground it lost in March and April. Still, the painful ride investors were put through in the past quarter shouldn’t be soon forgotten.

Dow's disciplined cost-cutting and capacity expansion are set to drive substantial margin recovery and earnings growth. See why DOW stock is a Buy.