The trade spat between the United States and China is "on hold," according to Treasury Secretary Steven Mnuchin. The Dow surged more than 350 points in late morning trading, a gain of 1.5%. Nearly all 30 Dow stocks were up, and the index even topped 25,000 for the first time in two months. President Trump's apparent willingness to give ZTE a lifeline may be one of the key reasons China is now more open to a trade deal. Related: 3 tough questions after US-China trade truceThe US dollar strengthened Monday morning too, continuing a rebound that began earlier this year.

Source: CNN May 21, 2018 14:12 UTC