US stocks surged to close near the highs of the session on Monday after a US-China deal to temporarily slash reciprocal tariffs offered relief to markets worried about a trade war. Wall Street notched a banner day after the US and China put tariffs on pause for 90 days,

Stocks are rallying after the U.S. and China struck a deal that pauses most tariffs between the two countries for 90 days as President Trump signs an executive order to cut prescription drug prices.

U.S. futures surged Monday after the U.S. and China announced they were suspending for 90 days most of the sharp tariff hikes each has imposed since U.S. President Donald Trump began escalating his tr...