Overview
- The US and China agreed to a 90-day pause on reciprocal tariffs, reducing rates from over 100% to 10% in a deal reached in Geneva over the weekend.
- Indian stock markets reopened after a ceasefire between India and Pakistan, with Sensex and Nifty climbing over 2% in early trading.
- US stock futures surged, with Dow E-minis up 1.99%, S&P 500 E-minis up 2.5%, and Nasdaq 100 E-minis up 3.31%, reflecting investor optimism.
- Asian and European markets rallied, with indices like Japan's Nikkei and the Euro Stoxx 50 posting gains, buoyed by the trade truce and easing geopolitical tensions.
- Indian investors now focus on upcoming inflation data, trade figures, and Q4 earnings, while volatility remains elevated as reflected by the India VIX.