Stock futures surged Monday morning after the U.S. and China agreed to slash tariffs on one another for 90 days while the two sides work toward a broader trade agreement.

U.S. stocks are leaping Monday after China and the United States announced a 90-day truce in their trade war. They agreed to take down most of their tariffs that economists warned could start a recession and create shortages on U.

Futures jumped after Treasury Secretary Scott Bessent said U.S.-China trade talks were "productive." Tesla, Palantir and Alibaba are in focus.