Dow futures climbed on Monday as the Trump administration and China jointly announced a pause in reciprocal tariffs for 90 days.
Dow futures traded about up about 2.2% ahead of Wall Street’s open on Monday. S&P futures climbed about 2.9% and NASDAQ futures were up about 3.8%.
Trader Thomas McCauley works on the floor of the New York Stock Exchange, Friday, May 9, 2025.
Richard Drew/AP
Stocks had taken a beating following President Donald Trump’s “Liberation Day,” his announcement of wide-reaching tariffs that wiped out trillions of dollars from the stock market, losses not seen since COVID.
Markets had been staging a recovery even before Monday’s news, as Trump continued his retreat from the tariffs.
President Donald Trump speaks with reporters as he signs an executive order in the Oval Office of the White House, Friday, May 9, 2025, in Washington.
Alex Brandon/AP
The S&P has recovered all its losses from “Liberation Day,” but the Dow remains about half a percentage point lower.
While stocks had massive losses there has also been a sharp rebound, at one point the S&P had its longest nine-day winning streak since 2004.
-ABC News’ Zunaira Zaki