U.S. stocks soared Monday as investors celebrated major progress on a U.S.-China trade deal. The Dow added over 1,100 points, exiting correction territory, while the Nasdaq Composite began a fresh bull market.

The two countries agreed to a 90-day truce that will give them time to work on more substantive trade negotiations.

US stocks surged to close near the highs of the session on Monday after a US-China deal to temporarily slash reciprocal tariffs offered relief to markets worried about a trade war. Wall Street notched a banner day after the US and China put tariffs on pause for 90 days,

U.S. stocks closed significantly higher on Monday in the first trading session after the U.S. and China announced an agreement to slash tariffs for 90 days as the world’s two largest economies negotiate a wider trade deal.