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A China-U.S. trade agreement has unleashed the stock market bulls, leading to a 1,000-point advance 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%. Magnificent Seven stocks are joining in on today’s rally, while nearly all sectors of the economy are flashing green. The SPY ETF is adding 2.5% today as the broader market narrows its year-to-date decline to 1.3%.
After concluding delicate negotiations over the weekend, the White House and Beijing officials have reached a temporary deal to lower the lofty tariffs, giving the markets enough details for a risk-on rally. 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 984.04 (+2.4%)
Nasdaq Composite: Up 589.93 (+3.2%)
S&P 500: Up 140.86 (+2.5%)
Wall Street Analyst Moves
UBS has reiterated its “buy” rating on Nvidia (Nasdaq: NVDA) shares head of the AI leader’s quarterly earnings report later this month 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” 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 that its robotics business is likely to be a growth driver at the company.
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