Equities surged pre-mkt (SPX +2.8%, NDX +3.8%) after the U.S. and China agreed to temporarily lower tariffs on each other’s products for 90 days, according to a joint statement. The combined 145% US levies on most Chinese imports will be reduced to 30% by May 14, while the 125% Chinese duties on US goods will drop to 10%, according to the statement and officials in a briefing Monday in Geneva. The 90-day reprieve is designed to cool trade tensions and give the world’s two largest economies three more months to resolve their differences.
Mag 7 names and stocks with high China exposures benefitted most pre-market Monday:$Apple(AAPL.US) +6.7%$NVIDIA(NVDA.US) +5.0%$Amazon(AMZN.US) +7.8%$Tesla(TSLA.US) +7.9%$Meta Platforms(META.US) +6.5%$AMD(AMD.US) +6.0%$Super Micro Computer(SMCI.US) +6.2%$Nike(NKE.US) +5.7%, $Baidu(BIDU.US) +4.7%$Pony AI(PONY.US) +10.0%The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
