US Stocks Soar After China-US Tariff Deal

**US Stocks Soar After China-US Tariff Truce** US stocks experienced a dramatic surge on Monday following a temporary agreement between the United States and China to reduce tariffs. This unexpected development eased concerns about a potential trade war escalating into a full-blown economic recession. The Dow Jones Industrial Average jumped over 1,160 points, representing a significant increase of 2.5%. This follows a 90-day tariff pause agreed upon by both nations. The S&P 500 also experienced robust growth, rising more than 3% to surpass the 5,800 mark. Similarly, the Nasdaq Composite soared over 4%, reaching its highest level in over two months, exceeding 18,000. The technology sector was a key driver of this upward trend, with the SOXX ETF (an exchange-traded fund tracking semiconductor stocks) recording its best single-day performance since early April. Individual tech giants like AMD and Nvidia also saw substantial gains. "Bulls took the day by the horns," remarked one market analyst, highlighting the aggressive buying that fueled the rally. The consumer discretionary sector also performed strongly, with companies in the hospitality and travel industries, such as Carnival and Norwegian Cruise Line, seeing their stock prices jump by over 7%. This collective market surge added an estimated $800 billion in market capitalization, marking the largest collective move since April 9th. Tesla, now back above the trillion-dollar market cap mark, saw a significant increase in share price. The positive market reaction underscores the relief felt by investors following the temporary tariff reduction. While the long-term implications remain to be seen, the immediate impact has been undeniably positive, offering a glimmer of hope amidst ongoing global economic uncertainty.