U.S. stocks roared back on Monday after the U.S. and China agreed to temporarily slash tariffs following negotiations over the weekend in Switzerland, raising hopes a trade war won’t push the economy into a recession. The Dow Jones Industrial Average surged 1,160 points, or 2.8%, staying near its highs for most of the session with buying enthusiasm remaining strong. The S&P 500 popped 3.26%, bringing its gain since its April intraday low at the height of tariff pessimism to more than 20%. The benchmark has cut its year-to-date losses to just 0.6%. The Nasdaq Composite added 4.35%, as the initial China agreement sent technology stocks tied to the country — like Tesla and Apple — flying higher. It was the best day since April 9 for all three indexes.
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