US stocks surged to close near the highs of the session on Monday after a US-China deal to temporarily slash reciprocal tariffs offered relief to markets worried about a trade war. Wall Street notched a banner day after the US and China put tariffs on pause for 90 days,

Stocks are soaring Monday as investors cheer weekend talks that saw China and the U.S. agree to slash tariffs on each other for at least 90 days. Data indicate that institutions were already lagging behind the stock-market bounce that had seen the S&P 500 take back much of its post-April 2 selloff,

U.S. stocks are leaping Monday after China and the United States announced a 90-day truce in their trade war. They agreed to take down most of their tariffs that economists warned could start a recession and create shortages on U.

Most tech stocks are surging today after a shocking announcement from China took the market by storm this morning. Even after several strong earnings reports over the past two weeks, many prominent companies have struggled as tariffs levied by President Donald Trump sparked retaliation from trade partners,

The U.S. agreed to cut tariffs on Chinese goods from 145% to 30%, while China committed to reduce tariffs on U.S. products from 125% to 10%. The previous set of sky-high tariffs had threatened a surge in prices and a possible U.S. recession, experts told ABC News.

Live Updates Live Coverage Updates appear automatically as they are published. Market Movers 9:43 am by Gerelyn Terzo NRG Energy (NYSE: NRG) is up 14% today after beating Q1 earnings estimates. Newmont Mining (NYSE: NEM) is falling 5% on a sinking gold price in response to the U.

US stock futures are trading marginally in the red after a strong rally on Monday, marking their best single-day gain since April 9, which was the day US President Donald Trump announced a pause to his reciprocal tariff program for 90 days.

The United States and China have agreed to temporarily slash reciprocal tariffs in a deal that surpassed expectations as the world's two biggest economies seek to end a damaging trade war that has stoked fears of recession and roiled financial markets.