This article will be updated throughout the day, so check back often for more daily updates.
Risk is back on in the stock market after U.S. and China officials were able to clinch a trade deal over the weekend, agreeing to lower tariffs from staggeringly high levels. President Trump has been dropping further details, calling the discussions a “total reset” with China, pointing to further business with the nation and the removal of trade barriers as a result. Tariff relief has ignited a 1,000-point rally in the Dow Jones Industrial Average. Technology stocks are among the top performers, sending the Nasdaq Composite soaring by 3.8% and the S&P 500 higher by 2.7%. The SPX index is tacking on 2.5% in today’s buying action. The S&P 500 index is now hovering back above the 5,800 level.
Magnificent Seven stocks have been at the crosshairs of the China trade tensions and are rallying on the tariff relief. Treasury Secretary Scott Bessent said the U.S. is targeting a strategic decoupling from necessities made by China, agreeing to suspend tariffs for 90 days with the nation except for a wider-based 10% levy threshold.
Merger Monday is back. KindlyMD (Nasdaq: KDLY) is up a staggering 573% after announcing a business combination with bitcoin investment firm Nakamoto, a company founded by President Trump’s crypto advisor David Bailey.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Up 985.25 (+2.4%)
Nasdaq Composite: Up 650.17 (+3.7%)
S&P 500: Up 153.00 (+2.7%)
Wall Street Analyst Moves
UBS has reiterated its “buy” rating on Nvidia (Nasdaq: NVDA) stock ahead of the tech leader’s quarterly earnings report but slashed the price target to $175 from $180 per share. Nvidia stock is currently hovering at $121 per share.
Jefferies has turned bullish on hotel stock Marriott (Nasdaq: MAR), upgrading shares to “buy” from “hold” amid strength in its business model that could lead to further gains in the share price.
BofA has reiterated Amazon (Nasdaq: AMZN) as a “buy” rating, suggesting its robotics business could be a catalyst for growth.
The post S&P 500 INDEX (SPX) Live: Markets Soar Amid ‘Total Reset’ With China appeared first on 24/7 Wall St..
