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.

U.S. stock index futures jumped on Monday after the United States and China said they had reached a deal to reduce tariffs, easing concerns of an all-out trade war that had gripped global markets. Speaking after talks with Chinese officials in Geneva,