Stock market futures in the U.S. surged on Monday as the U.S. and China agreed to temporarily de-escalate their trade war.

Stock futures rose Sunday after Treasury Secretary Scott Bessent said “substantial progress” was made in trade negotiations with Chinese officials, potentially thawing tensions kickstarted by Trump’s escalating tariff policy.

US stock futures surged even higher on Monday after the US and China said they have agreed to slash most tariffs for 90 days while further trade talks take place. Stocks were already making gains over after the US said it had made "substantial progress" in weekend trade talks with China,