#TradeWarEases

⚡ Markets tremor: Historic US-China agreement on tariff mechanism ⚡

- US stock futures rose on Monday after the US and China announced they had reached an agreement to significantly reduce their overall tariffs.

- Dow Jones futures rose 785 points, or 1.9%, S&P 500 futures rose 142 points, or 2.5%, and Nasdaq 100 futures rose 689 points, or 3.4%.

- The US and China agreed to a 90-day pause in tariff escalation, with Washington reducing tariffs on China to 30% and Beijing reducing its tariffs on US imports to 10%, according to a rare joint statement issued by the two countries following high-level trade talks over the weekend.

- The economic calendar this week will be dominated by a new monthly reading of US consumer prices, which could shed some light on the impact of recent trade tensions.

- Pharmaceutical stocks fell after Trump announced plans to sign an executive order aimed at reducing prescription drug prices in the US by 30% to 80%.

- Oil prices rose as the announcement of a trade agreement between China and the US raised hopes that the world's two largest users of crude oil may be moving towards a resolution to their dispute.