Trump avoids repeating Herbert Hoover’s Smoot-Hawley tariff mistake, which led to companies slashing dividend payouts.

Stock futures rose Sunday after Treasury Secretary Scott Bessent said “substantial progress” was made in trade negotiations with Chinese officials, potentially thawing tensions kickstarted by Trump’s escalating tariff policy.

The Chinese e-commerce company reported a quarterly net income of $1.8 billion, as revenue rose 16% from a year ago to $41.5 billion.

The firm, which produces content for TikTok, recorded no revenue last year, but it announced this week that a mysterious stock sale would allow it to invest heavily in the $TRUMP memecoin.

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The Dow opened lower after the Consumer Price Index report showed annual inflation slowed to 2.3%, marking the lowest inflation rate since early 2021. Follow along for live updates on the Dow, S&P 500 and Nasdaq.

Investors eye more trade deals, updates from President Trump’s trip to the Middle East and fresh consumer inflation data after U.S. stocks soared Monday as investors celebrated major progress on U.S.-China trade talks.

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,