US equities are soaring to begin a new week as worries over the US-China trade war subsided. Over the weekend, US Treasury Secretary Steven Mnuchin remarked that the White House would delay implementing proposed tariffs on Chinese goods as the two countries worked out the details on a new deal.
Easing tensions over the trade talks between U.S. and China have investors responding positively to the equity markets. Stocks are up today following a strong performance last week. If this trend continues, a positive close today would be the eighth straight advance for the Dow. Last week, the Dow rose 2.3%, the S&P500 was up 2.4% and the Nasdaq climbed 2.7%.
Rising oil prices are giving stocks a lift this morning as the markets kick off a new week of trading. However, uncertainty still remains on several geopolitical fronts which could continue to be a headwind for equities as the week continues. Last week was pretty rocky for U.S. stocks.