US stocks shot higher on Monday in the wake of a US-China deal to temporarily slash reciprocal tariffs, a reprieve for markets fretting about the economic damage from a trade war. Wall Street is setting up for a banner day after the US and China put tariffs on pause for 90 days,

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.