US stock futures were rallying in Monday's premarket after the US and China agreed to pause their trade war for 90 days and negotiate cutting tariffs.

The Dow Jones Industrial Average futures were up 2.4%, S&P 500 futures were rising 3%, and Nasdaq futures were gaining 3.9%.

Oil prices were surging higher with front-month global benchmarks Brent crude and West Texas Intermediate crude up 3.9% and 3.7% respectively.

Treasury Secretary Scott Bessent said Monday on CNBC he expects to meet with Chinese officials again in the next few weeks to continue trade negotiations. The remarks come after the US and China agreed to a 90-day pause on most tariffs following weekend meetings between the two countries in Switzerland.

On a light day on the economic calendar, the US Treasury will release Federal Budget Balance figures , which measures the monthly difference between the US government's income and expenditure. It is expected to swing to $256.4 billion in April from -$161 billion in March indicating a bullish outlook for the dollar.

In equities, shares of Kindly MD (KDLY) skyrocketed 492% after it said Monday that it has signed a definitive merger agreement with Nakamoto Holdings to start a Bitcoin treasury strategy. Gryphon Digital Mining (GRYP) shares soared 205% after it said Monday that its majority owned American Bitcoin unit signed a definitive merger agreement to go public with Gryphon. And LQR House (YHC) shares jumped 118%, adding to a 6% gain on Friday.

On the losing side, shares of Abits Group (ABTS) plunged 50% after gaining 263% Friday. Nuvve (NVVE) stock tumbled 41% following a 144% gain the previous session. And shares of Siyata Mobile (SYTA) dropped 21% after rising 70% on Friday.