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 rose sharply Tuesday morning, with the S&P 500 rising about 1.5%, the Nasdaq gaining 2, and the Dow Jones Industrial Average climbing 473 points, or 1.1%, in a rebound from last week’s selloff.

Just as investors thought they could take a break from tariff scares, President Trump’s threats of new levies against the EU and Apple threw trade tensions back into focus ahead of a long holiday weekend.

U.S. stocks fell on Friday, notching a weekly loss, after President Donald Trump recommended 50% tariffs on European goods, reopening a new front in global trade tensions and unleashing a fresh wave of market uncertainty.