US stock futures surged even higher on Monday after the US and China said they have agreed to slash most tariffs for 90 days while further trade talks take place. Stocks were already making gains over after the US said it had made "substantial progress" in weekend trade talks with China,

The Trump Administration agreed on a pause in its tariffs war with China over the weekend. For the next 90 days at least, China will lower tariffs on imported U.S. goods to 10%, and the U.S. will cut tariffs on imported Chinese goods to 30%.