Tariff relief lit a fire under the S&P 500 index futures, sending them soaring after the extended weekend. News of delayed EU tariffs and whispers of fresh trade deals coming later this week helped fuel a bullish stampede.

Overnight action started strong in Sunday’s abbreviated session, with bulls pushing the index tantalizingly close to the 5900 mark. Monday’s premarket saw the tug-of-war intensify. Bulls locked in support near the low of 5862.50, briefly punched through 5900, then retreated as bears flexed their muscles. At the opening bell, profit-takers tried to spoil the party, but support held just above the premarket low. From there, the bulls took the reins and didn’t look back, steamrolling past the premarket high in a rally that barely blinked.

The final two hours brought a touch of profit-taking, but nothing could stop another late-day buying spree. The session closed near the peak at 5934.25, up a hefty 117.25 handles, with after-hours trading stretching the high to 5941.75. 

Wednesday’s news lineup is set to include the Fed’s May FOMC minutes at 2:00 PM ET and NVIDIA Corp (NASDAQ: NVDA) earnings at 4:20 PM ET.

Tesla Inc (NASDAQ: TSLA) led the pack among top components, rocketing $23.55 or 6.94% to $362.89. Aside from macro factors, investors were spurred on as CEO Musk dialed back his government side hustle, despite news of poor sales (-49% Y/Y) in Europe for April.

Tesla’s surge smoked the cash index’s 2.08% gain by more than triple.

No top components finished in the red, leaving Berkshire Hathaway Inc (NYSE: BRK.B) as the smallest winner, nudging up $5.70 or 1.13% to $509.16.