US stocks sharply higher on US-China trade truce; oil surges

US stocks sharply higher on US-China trade truce; oil surges

U.S. stocks surged in early trading Monday after the U.S. and China agreed to a 90-day truce in their escalating trade dispute, sending the Dow Jones Industrial Average up 300 points.

Technology companies led the rally, which followed gains in overseas markets as investors welcomed news of the trade pact, which was struck over dinner between President Donald Trump and his Chinese counterpart Xi Jinping at the G-20 summit over the weekend.

The long-running dispute between the world’s two largest economies has rattled investors for months, stoking traders’ fears that it could begin dragging down corporate profits and weighing on global economic growth.

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