The ASX 200 has surged on Wednesday after investors on Wall Street were buoyed by the positive news of the United States and the European Union coming to a trade deal.

The index is about one per cent off its February high point after crashing more than 14 per cent since Donald Trump started executing his trade policies.

It is up 0.5 per cent in the first 25 minutes of trading with regenerative medicine company Mesoblast up 4.6 per cent, gaming manufacturer Light & Wonder rising 3.4 per cent and Corporate Travel Management jumping 3.1 per cent.

Major indexes on Wall Street surged on Tuesday in the first day of trading since Trump agreed to delay the US-EU tariff deadline until July 9.

The US President said there was progress with the discussions and commended the EU getting in contact to “quickly establish meeting dates”.

“I have just been informed that the EU has called to quickly establish meeting dates. This is a positive event, and I hope that they will,” Trump wrote on Truth Social.

The jump also followed a report from non-profit research organisation Conference Board that indicated renewed consumer optimism in the US.

The Dow Jones jumped 1.8 per cent, the S&P 500 surged 2.1 per cent and the Nasdaq soared 2.5 per cent on Tuesday.

European indexes also surged with London’s FTSE 250 Index jumping 1.1 per cent, Germany’s DAX rising 0.8 per cent and the STOXX Europe 600 up 0.3 per cent.

However, not all markets are in the green as New Zealand’s NZX 50 Index has sunk 0.7 per cent since opening on Wednesday.

Japan’s Nikkei 225 is up 0.8 per cent on Wednesday and South Korea’s KOSPI 200 has risen 1.1 per cent.