#TradeWarEases

⚡ Strong tremor in global markets.. Unprecedented agreement between America and China on tariffs ⚡

U.S. stock futures saw a notable jump on Monday following the announcement of a historic agreement between the United States and China aimed at significantly reducing tariffs.

Dow Jones futures rose by 785 points (1.9%), while S&P 500 futures increased by 142 points (2.5%), and Nasdaq 100 futures recorded gains of 689 points (3.4%).

The agreement between the world's two largest economies stipulates a cooling of trade tensions for 90 days, during which Washington reduced tariffs on Chinese goods to 30%, while Beijing cut tariffs on American imports to 10%, according to a joint statement issued after high-level talks over the weekend.

Markets are awaiting new U.S. inflation data this week, which may reveal the impact of recent trade disputes on consumers.

On another note, shares of pharmaceutical companies declined after President Trump announced intentions to issue an executive order to reduce prescription drug prices by between 30% and 80%.

Oil prices also rose, driven by hopes of a breakthrough in the trade dispute between Beijing and Washington, boosting optimism regarding demand for crude from the world's largest consumers.