Stocks closed mostly higher on Tuesday after the release of encouraging inflation data, adding to big gains posted the previous session following a de-escalation in the trade spat between the U.S. and China.

US stocks surged on Monday after President Donald Trump’s top trade officials brokered a surprisingly dramatic de-escalation in trade tensions with China over the weekend, dropping tariffs to much lower levels,

US stock futures surged even higher on Monday after the US and ... the two sides had reached a deal for a 90-day pause in measures that would see tit-for-tat tariffs cut by 115%.

The S&P 500 climbed by 2.8% on Monday, May 12, 2025 as investors reviewed the trade deal between the U.S. and China that significantly reduces tariffs for 90 days as negotiations continue.

Stock futures rose Sunday after Treasury Secretary Scott Bessent said “substantial progress” was made in trade negotiations with Chinese officials, potentially thawing tensions kickstarted by Trump’s escalating tariff policy.

Stocks soared on May 12 after the U.S. and China agreed to drastically cut their dueling tariffs for three months while the two global powers work to hammer out a broader deal