Stock futures rise after ‘substantial progress’ is made in US-China trade negotiations

By Auzinea Bacon, CNN

(CNN) — 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.

Dow futures were jumped 1.10%, or 456 points. The S&P 500 futures rose 1.25%, or 70.75 points, while the tech-heavy Nasdaq Composite futures went up 1.44%, or 289.25 points, as of 6:15 p.m. ET.

Bessent and US Trade Representative Jamieson Greer joined other US officials in Geneva, Switzerland, to meet with Chinese officials after President Donald Trump imposed sweeping 145% tariffs on most Chinese goods last month. China retaliated with 125% on US goods.

Markets have whipsawed amid uncertainty Trump’s changing tariff policies.

This is a developing story and will be updated

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CNN’s Betsy Klein contributed to this report.