U.S. stocks rallied Monday after the U.S. and China agreed to over the weekend in Switzerland.

The surged 1,022 points, or 2.4%. The popped 2.6%, and the surged 3.5%.

Treasury Secretary Scott Bessent said on Monday that talks with China had been "very productive" and both countries had agreed to cut "reciprocal" tariffs by 115% for 90 days. That brings U.S. tariffs on Chinese goods down to 30%, and Chinese tariffs on U.S. imports to 10%. Bessent told C온라인카지노사이트's "" on Monday that he expects to meet once again with representatives from Beijing in the "" to iron out a bigger agreement.

, which sells electronics and appliances vulnerable to tariffs, popped 7%. and climbed 7% and 9%, respectively. advanced more than 7%, and jumped 6%.

The jumped more than 6%.

Tensions between China and the U.S. soared after President Donald Trump last month unveiled 145% tariffs on imported goods from China. Beijing then with 125% duties of its own targeting U.S. goods.

"We believe peak uncertainty over trade has passed, but market volatility is likely to stay," UBS head of fixed income Kurt Reiman wrote in a Monday note. "Our base case remains that the effective US tariff rate (ex-China) will moderate toward 15% by year-end."

The S&P 500 nearly closed in bear market territory — down more than 20% from a record set in February — following the "liberation day" announcement. Stocks quickly rebounded after Trump cut tariffs on the rest of the world, but gains were held in check as investors awaited progress on U.S.-China trade negotiations.

"Nothing is ever permanent when it comes to Trump's tariffs (and there is a July 9 deadline for reciprocal tariffs and an August deadline for China), but maybe Trump has found a rough tariff equilibrium for now – a 10% universal tariff, 25% product tariffs, and 30% China tariffs," Piper Sandler head of U.S. policy Andy Laperriere wrote in a Monday note.

Should the morning's futures gains hold through the close, the S&P 500 would be near positive territory for the year.

that the  rate on imports from other countries is likely to "be in place for the foreseeable future," echoing Trump's comments from .

Tariffs on China won't go back to 145% even if 90-day pause ends without full deal, Trump says

President Trump said tariffs could go "substantially higher" if a full deal with China isn't reached during the 90-day pause, but not all the way back to the 145% level.

"At 145, you're really decoupling because nobody is going to buy," Trump said.

— Jesse Pound

Trade agreement will result in a 'fully open' China economy, Trump says

President Donald Trump said Monday said "it's going to take a while to paper" the deal with China but that the country has agreed to remove its non-monetary barriers to trade and "" to U.S. imports.

"They've agreed to open China — fully open China," Trump said.

Trump also characterized the talks with China as "friendly" and said he may speak to President Xi Jinping at the end of this week.

— Jesse Pound

Oil jumps more than 3% on hopes U.S.-China deal will spark economic rebound

Crude oil prices jumped more than 3%, after the U.S .and China agreed to slash tariffs temporarily, easing trade tensions between the world's two largest petroleum consumers.

was up $2.08, or 3.41%, to $63.10 per barrel. Global benchmark rose $2.06, or 3.22%, to $65.97 per barrel.

Traders are hoping that the U.S. and China will strike a broader, durable agreement that will reignite economic growth and boost crude demand.

Oil prices had plunged the l this month as President Donald Trump's global tariff regime raised the risk of a recession that would slow demand. At the same time, OPEC+ has agreed to  to the market this month and next.

— Spencer Kimball

Stocks open higher

Stocks opened higher on Monday, with investor appetite for risk assets growing following a cooling of trade tensions between the U.S. and China.

The Dow Jones Industrial Average gained 975 points, or 2.3%. The Nasdaq Composite popped 3.7%, while the S&P 500 added 2.7%.

— Brian Evans

Bessent says he expects to meet with China again in 'next few weeks'

U.S. Treasury Secretary Scott Bessent on Monday said he expects to continue talks with China in the near-term to iron out a more concrete trade agreement.

"I would imagine in the we will be meeting again to get rolling on a more fulsome agreement," Bessent told C온라인카지노사이트's "" on Monday.

— Brian Evans

Nvidia, Best Buy, Eli Lilly among the stocks making moves premarket

Some stocks are making big moves before the opening bell on Monday:

• Big Tech stocks – Shares of megacap technology companies surged after the U.S. and China , bringing the U.S. tariff rate on Chinese imports down to 30% and China's duties on U.S. imports to 10%. , which has seen  amid increasing competition from local automakers, rose more than 7% — as did . , which  in China, gained more than 6%.  and  advanced more than 5% and more than 4%, respectively.
• Retail stocks – Retailers vulnerable to China tariffs soared following the agreement between the U.S. and China to suspend most levies.  jumped 17%,  rose 10% and  rallied 11%.
• Pharma stocks – Shares of several drugmakers traded lower after President Donald Trump said on Sunday that he will sign an executive order Monday morning that would reduce prescription drug costs "" to match prices paid several by other countries.  shares slid about 3%, while  and  shares each dropped more than 2%. Shares of  and  also each declined more than 2%.

Read the full list .

— Sean Conlon

Pharma stocks fall after Trump says order to lower drug costs coming

Pharmaceutical stocks fell broadly on Monday after President Donald Trump said he would sign an executive order that aims to lower drug costs "by 30% to 80%."

and lost more than 2% each. shed nearly 5%. and were both down more than 3% along with .

— Fred Imbert

Hong Kong stocks surge nearly 3% after U.S. and China unveil details of trade deal

Asia-Pacific markets rallied Monday after China and the U.S. , including a 90-day pause on tariffs and a drop in reciprocal tariffs by 115 percentage points.

Hong Kong stocks led gains in the region with the  surging 2.98% to end the day at 23,549.46, while the Hang Seng Tech index advanced 5.16% to 5,447.35, their highest levels since March 27.

Meanwhile, mainland China's  index increased 1.16% to end the day at 3,890.60.

Indian stocks also saw massive gains following the ceasefire between India and Pakistan over the weekend. The — the worst in nearly three decades — with both sides exchanging fire with missiles and drones.

The benchmark  surged 3.49% while the BSE Sensex gained 3.38% as at 2. p.m. local time.

Japan's benchmark ended the day 0.38% higher at 37,644.26 while the broader Topix index added 0.31% to 2,742.08.

In South Korea, the  index advanced 1.17% to close at 2,607.33 while the small-cap Kosdaq moved up 0.4% to 725.40.

Over in Australia, the benchmark  pared gains to end the day flat at 8,233.50.

— Amala Balakrishner

U.S. and China suspend most tariffs in dramatic thawing of tensions

The U.S. and China on Monday agreed to suspend most tariffs on each other's goods in a move that shows a major thawing of trade tensions between the world's two largest economies.

The trade agreement means that "reciprocal" tariffs between both countries will be cut from 125% to 10%. The U.S.' will remain in place, meaning total tariffs on China stand at 30%.

"We had very productive talks and I believe that the venue, here in Lake Geneva, added great equanimity to what was a very positive process," U.S. Treasury Secretary Scott Bessent said in a news conference.

— Sam Meredith

Trump to sign order aiming at lowering prescription drug costs

President Donald Trump said he will sign an executive order Monday morning to introduce "most favored nation" pricing model to lower U.S. prescription drug costs.

"I am pleased to announce that Tomorrow morning, in the White House, at 9:00 A.M., I will be signing one of the most consequential Executive Orders in our Country's history. Prescription Drug and Pharmaceutical prices will be REDUCED, almost immediately, by 30% to 80%," Trump said in a post on Truth Social Sunday.

The policy ties the amount the government pays for some medications to prices paid abroad. In other words, the U.S. would pay no more than the lowest prices paid by other wealthy countries.

"They will rise throughout the World in order to equalize and, for the first time in many years, bring FAIRNESS TO AMERICA! I will be instituting a MOST FAVORED NATION'S POLICY whereby the United States will pay the same price as the Nation that pays the lowest price anywhere in the World," Trump said.

— Yun Li

Chinese officials cite 'substantial progress' in trade talks

The Chinese officials who participated in the U.S. trade talks over the weekend

Vice Premier of the People's Republic of China He Lifeng said the meeting "achieved substantial progress and reached important consensus."

"The two sides agreed on establishing a consultation mechanism for trade and economic issues," Lifeng said.

China International Trade Representative Li Chenggang said no matter when a statement is released about a trade deal, it's going to be "big news" and "good news for the world."

— Yun Li