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Bull Run Resumes: Mag 7 Gain $830B in a Day as Nvidia Reclaims $3T, Tesla Hits $1T

China and the United States reach 90-day tariff reduction agreement

China and the United States reached a 90-day tariff reduction agreement, and the stock market and the US dollar soared. Gold and safe-haven currencies slipped against the dollar as global stocks rebounded after the U.S. reached a deal with China to temporarily cut tariffs. JPMorgan raised its growth forecast for China, calling the deal "unexpectedly positive."

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Apple Inc.’s stock gained 6.3%, Nvidia Corp.’s  rose 5.4%, Alphabet Inc.’s advanced 3.7% and Microsoft Corp.’s edged up 2.4%. Overall, the Magnificent Seven stocks added $830.9 billion to their collective market cap.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/e164b2f7770ee6fbd8fda7169067240c\" tg-width=\"1080\" tg-height=\"1246\"/></p><p>While Amazon’s stock was the biggest gainer, Apple was the biggest contributor to the market-cap gains for the group. Apple’s market cap was up more than $183 billion on Monday, versus $165 billion for Amazon.</p><p>Wall Street applauds the latest development on U.S./China trade. 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Apple Inc.’s stock gained 6.3%, Nvidia Corp.’s  rose 5.4%, Alphabet Inc.’s advanced 3.7% and Microsoft Corp.’s edged up 2.4%. Overall, the Magnificent Seven stocks added $830.9 billion to their collective market cap.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/e164b2f7770ee6fbd8fda7169067240c\" tg-width=\"1080\" tg-height=\"1246\"/></p><p>While Amazon’s stock was the biggest gainer, Apple was the biggest contributor to the market-cap gains for the group. Apple’s market cap was up more than $183 billion on Monday, versus $165 billion for Amazon.</p><p>Wall Street applauds the latest development on U.S./China trade. The risk-on trade has buoyed the S&amp;P 500 by 3.3% on Monday, fueled by gains in semiconductors, auto manufacturers, and U.S. companies heavily dependent on supply chains out of China.</p><p style=\"text-align: left;\">The news pushed Nvidia market cap hitting the $3 trillion milestone and Tesla’s above the $1 trillion milestone.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊","BRK.B":"伯克希尔B","AAPL":"苹果","AVGO":"博通","META":"Meta Platforms, Inc.","BRK.A":"伯克希尔","TSM":"台积电","MSFT":"微软","GOOG":"谷歌","GOOGL":"谷歌A","TSLA":"特斯拉","NVDA":"英伟达"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1135792066","content_text":"The group of tech stocks known as the Magnificent Seven added more than $830 billion in market capitalization on Monday after the U.S. and China agreed to roll back tariffs on each other for 90 days — keeping fears of a recession at bay for now, according to some analysts.Under the trade deal, the U.S. will cut tariffs on Chinese goods from 145% to 30%, while China will reduce tariffs on the U.S. from 125% to 10%, for a 90-day period.Amazon.com Inc.’s stock saw the biggest gain, up 8.1%, while shares of Meta Platforms Inc. rose 7.9% and Tesla Inc. advanced 6.78%. 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