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A China-U.S. trade agreement has sent the markets soaring to start the week, including 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%. Each of the Magnificent Seven stocks is participating in today’s rally, while most sectors of the economy are seeing green.
After meeting over the weekend to hammer out a deal, the White House and Beijing officials have reached an agreement to lower the escalated tariffs, giving the markets runway for gains that have been withheld throughout the trade war. Treasury Secretary Scott Bessent described a strategic decoupling from basic items made by China, agreeing to suspend tariffs for 90 days with the nation except for a wider-based 10% levy threshold.
KindlyMD (Nasdaq: KDLY) is up a staggering 573% on this Merger Monday. The company announced 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 969.45 (+2.3%)
Nasdaq Composite: Up 667.89 (+3.8%)
S&P 500: Up 151.51 (+2.7%)
Wall Street Analyst Moves
UBS has reiterated its “buy” rating on Nvidia (Nasdaq: NVDA) stock ahead of the AI darling’s quarterly earnings report but lowered the price target to $175 from $180 per share.
Jefferies has upgraded shares of hotel stock Marriott (Nasdaq: MAR) to “buy” from “hold,” citing strength in its business model that could unlock gains in the share price.
BofA has reiterated Amazon (Nasdaq: AMZN) as a “buy” rating, pointing to its robotics business as a positive catalyst for growth.
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