Nigeria, May 13 -- This report is from today's TNC's Daily Open, our international markets update. TNC Daily Open keeps investors informed on everything they need to know, no matter where they are.

The U.S. and China agreed over the weekend to reciprocally reduce their 90-day tariffs from 125% to 10%. That is significantly more than anticipated, given that Trump stated on Friday that an 80% tariff on China "seems right!" The total charge on Beijing is 30% since the United States continues to impose a 20% fentanyl-related levy on China.

Even though it's high, 30% is far less than 145%. Stocks soared as a result of the joyful investors. Consumer discretionary stocks like Nike and Starbucks, and tech companies like Nvidia and Broadcom saw ...