Wall Street’s main indexes advanced on Monday following Friday’s pullback, as investors returned to risk assets after President Donald Trump’s softer tone eased concerns over renewed U.S.-China trade tensions.

Aiding sentiment, U.S. Treasury Secretary Scott Bessent said in an interview with Fox Business Network on Monday that Trump was on track to meet his Chinese counterpart in South Korea as the two sides de-escalate tensions over trade disputes.

Tensions With China Flare

Tensions flared up last week after China expanded its rare earth export controls. In response, Trump on Friday said he would impose an additional 100% tariff on China’s U.S.-bound exports, along with new export controls on critical U.S.-made software.

The revived trade tensions sent the S&P 500 and the Nasdaq to suf

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