U.S. stock futures soared Monday morning after Washington and Beijing struck a surprise deal to dramatically cut tariffs, marking a rare moment of clarity and good news in an otherwise volatile environment.

Futures surged as the U.S. and China will slash tariffs more than hoped after trade talks. Tesla, Palantir, Alibaba are in focus.

US stocks surged to close near the highs of the session on Monday after a US-China deal to temporarily slash reciprocal tariffs offered relief to markets worried about a trade war. Wall Street notched a banner day after the US and China put tariffs on pause for 90 days,

US stocks surged on Monday after President Donald Trump’s top trade officials brokered a surprisingly dramatic de-escalation in trade tensions with China over the weekend, dropping tariffs to much lower levels,

German healthcare and materials group Merck KGaA has dropped a surcharge on life sciences sector orders within China following the U.S.-China agreement to pause sky-high tariffs on each other, the company said Wednesday.