U.S. stock index futures jumped on Monday after the United States and China said they had reached a deal to reduce tariffs, easing concerns of an all-out trade war that had gripped global markets. Speaking after talks with Chinese officials in Geneva,

Stock futures on Wall Street surged Sunday evening as the US cited "substantial progress" in trade negotiations with China, raising hopes of a potential deescalation in tensions between the world’s two largest economies.

Stock index futures jumped on Monday, and yields surged, as market sentiment was buoyed by the U.S. and China's agreement to suspend most tariffs temporarily on each other’s goods.