U.S. stock futures surged following an agreement between the United States and China to reduce tariffs. This agreement aims to alleviate concerns about a potential trade war.
Treasury Secretary Scott Bessent announced a 90-day pause and significant tariff cuts after discussions in Geneva. Tariffs are set to decrease to 10%.
Major indices, including Dow E-minis, S&P 500 E-minis, and Nasdaq 100 E-minis, all experienced notable increases. The CBOE Volatility index also dipped, indicating calmed market anxieties.
Retail inflation data is anticipated this week.
This article is based on our author's analysis of materials taken from the following resources: www.bbc.com, www.korrespondent and Reuters.