Stock futures surged Monday morning after the U.S. and China agreed to slash tariffs on one another for 90 days while the two sides work toward a broader trade agreement.

Futures surged as the U.S. and China will slash tariffs more than hoped after trade talks. Tesla, Palantir, Alibaba are in focus.

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.