S&P 500 hits two-month high as US-China deal calms markets

The S&P 500 surged to its highest level since early March on Monday, buoyed by renewed investor confidence following a fresh US-China agreement that eased weeks of geopolitical uncertainty.

By 11:26 a.m. ET (15:26 GMT), the Dow Jones Industrial Average had soared 922.95 points, or 2.24 per cent, to 42,172.33. The S&P 500 rose 142.83 points, or 2.52 per cent, to 5,802.74, while the Nasdaq Composite jumped 618.07 points, or 3.45 per cent, to 18,546.98.

The S&P 500 and Nasdaq were both on track for their largest single-day gains since April 9. Notably, the S&P 500 also climbed above its 200-day moving average for the first time since late March—a key technical indicator signaling potential market strength.

Attribution: Amwal Al Ghad English, Reuters