US and China announced a 90-day truce in their trade war, leading to a significant stock market rally. Both countries agreed to temporarily reduce tariffs, easing recession fears. The S&P 500 surged 3.3%, nearing its all-time high. The Dow Jones jumped 2.8%, and the Nasdaq climbed 4.3%. Economists predict a positive impact on US economic growth. While challenges remain, the temporary truce offers relief to businesses and consumers ahead of key shopping seasons.

Prepared by Christopher Adams and reviewed by editorial team.