Morgans AM - Tuesday, 13 May 2025

US equity markets soared and settled near their session highs, with the three (3) benchmark indices logging their best single session performance since 9 April after the United States and China said they had agreed to a deal to cut reciprocal tariffs - Dow rose +1,161-points or +2.81% to 42,410.10, its highest close since 26 March and closing 12.66% above its 8 April closing low (37,645.59) to exit a technical correction. Eight of the 30 index components rallied over >5%, including Nike Inc (+7.34%).