IXIC: Nasdaq Futures Rally 2% as Traders Await Updates on “Productive” US-China Trade Talks

Stocks are hot ahead of the opening bell in New York — Trump touted “great progress” on a deal with China. Are we going back to the 10% tariff rate?

📢 Trump Talks Trade, Markets Talk Rally

• Futures contracts tied to the Nasdaq Composite IXIC were soaring roughly 2% on Monday morning as early-bird traders scooped up tech shares like it’s all fine and dandy. And indeed — it could be, or at least be going there. Futures on the S&P 500 were up 1.5% and Dow futures were up around 1.1%.
• Donald Trump took to his Truth Social platform to hype everyone who was waiting for the grand update: “GREAT PROGRESS MADE,” the President said about the US-China meeting in Geneva over the weekend.

🔥 Tariffs on Ice, Optimism on Fire

• The two sides met to negotiate a trade deal that would alleviate the huge burden of tariffs as high as 145% on Chinese imports, and vice versa — China punched back by slapping US goods with tariffs of 125%. The standoff led to huge fluctuations in the stock and forex markets and dented global supply chains.
• To this, Trump said that there was "a total reset negotiated in a friendly, but constructive, manner." "We want to see, for the good of both China and the US, an opening up of China to American business,” Trump added.

🚀 Details Pending, Sentiment Surging

• The Geneva meeting wrapped up late on Sunday and the White House issued a statement, saying the two delegations have reached a deal. But it stopped short of laying out what that deal was all about.
• "We will be giving details tomorrow, but I can tell you that the talks were productive," Treasury Secretary Scott Bessent said. "I spoke to President Trump last night, and he is fully informed of what is going on. So, there will be a complete briefing tomorrow morning," the statement said.