Futures on Wall Street have seen a sharp surge on Sunday evening US time, after the Trump administration and China, both cited "substantial progress" on trade talks that took place over the weekend in Geneva,

Stock futures jumped late Sunday after top Trump administration officials said the U.S. and China had “productive” trade negotiations over the weekend, without announcing any further details.

Treasury Secretary Scott Bessent said the U.S. delegation made “substantial progress” in discussions with their Chinese counterparts, promising a complete briefing Monday morning.