US stocks surged to close near the highs of the session on Monday after a US-China deal to temporarily slash reciprocal tariffs offered relief to markets worried about a trade war. Wall Street notched a banner day after the US and China put tariffs on pause for 90 days,

U.S. stock futures rose late on Tuesday after it was announced that Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer would meet with China's top economic official later this week in Switzerland.

Microsoft — Stock in the technology behemoth climbed more than 6% on the heels of better-than-expected third-quarter results on the top and bottom lines. Microsoft earned $3.46 per share on revenue of $70.07 billion, while analysts polled by LSEG were looking for a profit of $3.22 per share and $68.42 billion in revenue.

Microsoft and Meta's strong earnings reports eased investor fears of an economic slowdown amid President Trump's tariffs.

U.S. stock index futures were down on Tuesday, pulling back after a sharp rally fueled by a U.S.-China trade truce, as investors turned their focus to a key U.S. inflation reading that could shape the outlook for monetary policy.

U.S. stocks soared as investors’ fears of a recession in the U.S., sparked by a trade war with China, were abated after the two superpowers arrived at a deal.

Here are the top stories to read ahead of Monday's trading:

Investors head into a busy week for economic data watching if leadership in the U.S. stock market could be moving away from defensive equity areas that indicates greater appetite for risk.