The Dow Jones Industrial Average staged a powerful rally Monday, crossing its 200-day moving average for the first time since early April, as easing trade tensions between the U.S. and China injected a jolt of optimism into global markets.
The U.S. and China agreed to a 90-day truce by slashing triple-digit tariffs effective May 14. The Trump administration also agreed to hold more formal trade talks with Beijing after mounting signs of economic pressure on businesses and consumers.
The Dow Jones Industrial Average — as tracked by the Dow Jones Industrial Average ETF (NYSE:DIA) — surged 2.8%, or more than 1,100 points. By mid-afternoon, it reached 42,385 — its second-best day in the past six months, eclipsed only by the 7.8% rally on April 9 when President Donald Trump announced the tariff …