US stock futures surged even higher on Monday after the US and China said they have agreed to slash most tariffs for 90 days while further trade talks take place. Stocks were already making gains over after the US said it had made "substantial progress" in weekend trade talks with China,

The U.S. and China agreed Monday to sharply roll back tariffs on each other's imports for an initial 90-day period, de-escalating trade tensions and sending global stocks soaring.

The United States and China said Monday they have agreed a deal to slash reciprocal tariffs as the world's two biggest economies seek to end a trade war that has put financial markets on edge. Speaking after talks with Chinese officials in Geneva,