London stocks strike month-high after US-China tariff deal

Jim CramercNBC host and market analyst

I wouldn't want to buy the open because it is so indiscriminate,

Jim said Monday on "Squawk on the Street,"

Jim CramercNBC host and market analyst

They've got real tariff problems even [at] 30%,

Jim said

Jim CramercNBC host and market analyst

We went this weekend from being enemies [with China] to being adversaries. And, there's a very big difference: enemy, meaning that I always felt that things could really spiral out of control; trade adversaries, meaning that we're going to try to deal within the notion of commerce."

During Monday's Morning Meeting, Jim said

While the lower tariffs are technically only in place for 90 days, and 30% is still quite large on an absolute basis, the news is clearly an upside positive surprise,

wrote Adam Crisafulli, founder of Vital Knowledge

The trade détente between Washington and Beijing is clearly an upside surprise, but we continue to think the overall tariff burden will be significantly higher going forward than it was in January, placing stagflationary pressures on the domestic economy,

he said

We believe the risk of a more severe economic downturn is now more limited, and we rate US equities as Attractive,

UBS analysts said in a note to clients late Sunday, before the joint statement had even been released

The market was not expecting the big change to US and China tariff rates, which is very positive for the outlook for the US and the global economy,

said Kathleen Brooks, research director at traders XTB

The 90-day period may not be sufficient for the two sides to reach a detailed agreement, but it keeps the pressure on the negotiation process,

said Tai Hui, Asia-Pacific chief market strategist at JP Morgan Asset Management

We expect financial markets to remain volatile over the coming months, as they have almost fully priced out negative economic surprises and could once again be disrupted by more serious obstacles in trade negotiations,

he noted

The impact of tariffs on growth will now need to be revised lower, which is boosting the dollar... Safe havens like gold are also seeing demand slip away,

she told AFP

They are going to be one especially given the China tariffs…and we'll see what happens with the H20,

said Ives, referencing Nvidia's AI chip that is subject to export controls

It's actually a positive for names like Palantir… it could be bullish for Oracle, it could actually be bullish for Microsoft.. as that plays out, more and more goes to software,

said the analyst

I would imagine in the next few weeks we will be meeting again to get rolling on a more fulsome agreement,

Bessent said on CNBC's "Squawk Box."

I had seen what’s going on in the Chinese economy. We can see what’s going on with the shipments to the US,

Bessent said

There are still lots of factors pointing away from a (global) recession, and this morning’s news of lower US-China tariffs adds to that evidence,

Henry Allen, a strategist at Deutsche Bank, said in a note to investors Monday morning

We were firm, and we moved forward,

Bessent told CNBC from Geneva

What we do want is a decoupling for strategic necessities, which we were unable to obtain during Covid,

he said

As ever, it’s clear that these deals aren’t even sided. That’s the same percentage point reduction as on the other side of the coin, but the US is still subject to lower tariffs,

Mr Mould explained

Markets have welcomed the tentative US-China trade agreement with open arms,

said Russ Mould, investment director at AJ Bell

Both countries represented their national interest very well,

Mr Bessent said