"U.S. stocks signaled another rally on Sunday night after the Trump administration negotiated a framework for a trade deal with China that should avoid mutual assured destruction. Treasury Secretary Scott Bessent offered rough outlines of an agreement that include China easing rare earth export restrictions and buying "significant" amounts of U.S. soybeans in exchange for President Donald Trump removing his threat of adding 100% tariffs on China."
"Futures tied to the Dow Jones industrial average rose 312 points, or 0.66%. S&P 500 futures were up 0.75%, and Nasdaq futures added 0.91%. That would add to Friday's rally that saw fresh record highs. The yield on the 10-year Treasury was flat at 4.003%. The U.S. dollar was down 0.03% against the euro and up 0.16% against the yen. Gold fell 0.59% to $4,113.40 per ounce. U.S. oil futures rose 0.80% to $61.99 a barrel, and Brent crude climbed 0.76% to $66.44. Wall Street is also looking ahead to the Federal Reserve's policy meeting, which will conclude on Wednesday. Investors overwhelmingly expect another quarter-point rate cut, bringing the benchmark rate to 3.75%-4.00%."
U.S. markets moved higher after negotiators outlined a framework for a U.S.-China trade agreement intended to reduce escalation. The proposal calls for China to ease rare earth export restrictions and to purchase significant amounts of U.S. soybeans while the U.S. would drop a threatened 100% tariff. Equity futures for the Dow, S&P 500 and Nasdaq climbed, extending recent record highs. Treasury yields held steady, the dollar showed mixed moves, gold declined and oil rose. Investors expect a quarter-point Fed rate cut, and major tech companies will report earnings amid AI bubble worries.
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