US stock futures jump as US-China trade stand-off thaws

(Reuters) -The future of the stock index in the United States jumped on Monday after the United States, and China said it had reached an agreement to reduce definitions, eliminating fears of a comprehensive trade war that caused global markets.

Speaking after talks with Chinese officials in Geneva, US Treasury Secretary Scott Bessin said that the two sides agreed on a 90 -day stoppage on measures and that the customs tariff would decrease by more than 100 degrees Celsius to 10 %.

“This represents a pivotal moment in the dynamics of global trade.”

“However, the 90 -day time frame indicates that these identification cuts are negotiating tactics, not a permanent solution, creating uncertainty about long -term trade policies.”

At 04:08 AM Et, Download E-MINIS 822 points, or 1.99 %, increased S&P 500 E-Minis 141.75 points, 2.5 % and Nasdaq 100 E-Minis rose 666.25 points, or 3.31 %.

Future contracts jumped with the 3.5 % small Russell 2000 index.

The CBOE fluctuations index, known as the Wall Street, has slid up to less than 20 points for the first time since late March. It was the last time in 20.37 points.

Most of MEGACAP shares and growth are installed in the pre -market trade, as NVIDIA jumps by 4.6 % and Tesla adding 6.7 %.

Chips stocks such as advanced small devices and Marvell technology increased 4.9 % and 7.5 %, respectively.

Crude oil prices also increased more than 3 % after the announcement of the United States and China, as the shares of major producers and Exxon Mobil increased about 2 % each.

The deal between the United States and China comes days after a limited commercial agreement from the United States, which reduces fears that US president Donald Trump’s tariff that was announced on April 2 will raise world trade and stagger around the world.

As of the last closure, the S&P 500 has wiped almost all its losses since April 2, helped by some bright profit reports and commercial optimism.

However, pharmaceutical stocks remained victims of tariffs after Trump said on Sunday that he was planning to reduce the prices of medical prescriptions to the level paid by other high -income countries, an amount of 30 % to 80 %.

Pfizer, Elie Lily, Johnson and Johnson decreased by more than 2 % for each of them.

The giant Walmart retail company, CISCO network maker, and Deree Agricultural Maker, are some prominent companies that have been set to report the results this week.

CPI data is scheduled to be followed on Tuesday, while producers and retail sales will follow two days later.

Many federal reserve officials, including President Jerome Powell, will make general statements during the week.

(Chasheat Chauhan in Bangaluru; Liberation by Savio de Souza)