India, May 12 -- After ending last Friday's choppy trading session narrowly mixed, stocks have shown a substantial move to the upside during trading on Monday. With the surge, the Nasdaq and the S&P 500 have reached their best intraday levels in over two months.
The major averages have moved roughly sideways after an early spike, holding on to strong gains. The Nasdaq is up 630.57 points or 3.5 percent at 18,559.49, the S&P 500 is up 144.27 points or 1.6 percent at 5,804.18 and the Dow is up 952.12 points or 2.3 percent at 42,201.50.
The rally on Wall Street comes following news of a U.S.-China trade deal that drastically reduces the massive tariffs on each other's goods.
The White House said the agreement calls for the U.S. and China to...