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.

The White House announced a "China trade deal" in a May 11 statement, but did not disclose details. The apparent agreement came together sooner than most observers expected after Trump's 145% tariffs on Chinese imports virtually halted $600 billion in annual trade between the world's two largest economies.

Trade experts anticipate a spike in trade during talks and a substantial deal, but the risk of inflation and economic slowdown may not be over.

The tech industry is breathing a sigh of relief after the U.S. and China agreed to substantially lower tariffs, underscoring the prospect of de-escalation in a trade war that has been particularly

Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer told reporters that more details would be provided on Monday.

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Bettors on Polymarket and Kalshi slashed their recession outlooks below 50% after the US-China tariff deal was announced over the weekend.

Wall Street opened higher on Monday after the US agreed to cut tariffs on Chinese goods to 30%, with China reducing its levies to 10%.