U.S. stocks soared Monday as investors celebrated major progress on a U.S.-China trade deal. The Dow added over 1,100 points, exiting correction territory, while the Nasdaq Composite began a fresh bull market.

US stocks surged to close near the highs of the session on Monday after a US-China deal to temporarily slash reciprocal tariffs offered relief to markets worried about a trade war. Wall Street notched a banner day after the US and China put tariffs on pause for 90 days,

This weekend’s talks between Washington and Beijing officials in Geneva culminated in both countries cutting their tariff for at least the next 90 days, with the U.S. slashing its duties on Chinese goods from 145% to 30% and China cutting its levies on U.

Global stock markets surged on Monday after the U.S. and China agreed to slash steep tariffs for at least 90 days, tapping the brakes on a trade war between the world's two biggest economies that had fed fears of a global recession.

The U.S.-China truce trade is on, and the auto industry is center stage, thanks to its reliance on global production hubs and supply chains. Shares in Mercedes-Benz and BMW rallied Monday. The German companies both make sports-utility vehicles in the American south for the U.

Stock market futures in the U.S. surged on Monday as the U.S. and China agreed to temporarily de-escalate their trade war.

Volkswagen's CFO expects the carmaker's new product launches in China to start improving its performance in the battery-electric vehicle segment by the third quarter of 2026, he said in an interview with the Financial Times on Tuesday.

The Chinese e-commerce company reported a quarterly net income of $1.8 billion, as revenue rose 16% from a year ago to $41.5 billion.