U.S. stocks climbed Monday after Treasury Secretary Bessent touted substantial progress on talks with the Chinese setting up a busy week of trade talks as President Trump heads to the Middle East. In economic and earnings news,

The implication is that the baseline 10% tariff will likely stay in place globally but there can be industry-specific carve-outs. That’s good news for stocks.

China and the United States announced a truce in their trade war on Monday after talks in Geneva that will roll back the bulk of tariffs and other countermeasures by Wednesday.

Top US officials involved in high-level trade negotiations with China emerged from two days of talks touting “substantial progress” and appearing to confirm that a deal between the two countries had been reached,