Wall Street’s major indexes surged on Monday, with the S&P 500 closing at its highest level since early March, as investors cheered a temporary 90-day tariff reduction deal between the U.S. and China.
1. Market Moves

S&P 500 rose over 1.2%, marking its best close in two months.

Dow Jones Industrial Average added 0.9%, buoyed by cyclical sectors.

Nasdaq Composite climbed 1.5%, led by tech stocks on renewed risk appetite.

2. Tariff Truce Details
In a joint announcement, Washington agreed to cut its April tariffs on Chinese imports from 145% to 30%, while Beijing slashed duties on U.S. goods from 125% to 10%. The agreement halts the most extreme levies, offering breathing room for global supply chains.
3. Investor Sentiment
Market participants described the rally as a relief bounce amid recent anxiety:

“They are scaling tariffs back to reasonable levels, so the fallout will be more manageable,” said John Praveen of Paleo Leon.

However, some strategists cautioned that deeper complications could emerge once the 90 days expire:

“Any progress is positive for now, but long-term implications remain uncertain,” noted Chris Brigati of SWBC.

4. What to Watch Next

Further trade talks: Working-level meetings are expected to flesh out specifics.

Economic data: Tuesday’s CPI report will test whether easing trade tensions translate into softer inflation.

Earnings season: Key corporate results this week will reveal how companies are pricing in lower tariffs.

Investors tracking today’s standout movers can explore the Market Biggest Gainers API for a real-time list of top-performing stocks across the S&P 500, Dow Jones, and Nasdaq.