#TradeWarEases News of the agreement between the U.S. and China to lower tariffs for 90 days sent stocks up, particularly shares in consumer discretionary companies.

Furniture and home goods stores, such as Williams-Sonoma and Wayfair, along with athletic retailers, including Dick's and Nike, made significant gains.

Toy makers also stand to benefit from the deescalation, J.P. Morgan said in a research note Monday.