
U.S. stocks surged Monday as President Trump’s comments eased fears of a sudden jump in China tariffs. The S&P 500 ($SPX) rallied about 1.5% and the Nasdaq ($NASX) 2.2% to reverse Friday’s losses.
Best Buy (BBY) led the advance among large-cap names; its shares jumped roughly 10% to $77.45, making it one of the top S&P 500 gainers on the day. The pop reflects Best Buy’s heavy reliance on imported goods, meaning lower tariffs or smoother trade flows could significantly ease cost pressures and boost margins. After shares surged this week on easing trade rhetoric, analysts believe Best Buy could emerge as one of the stealth winners of a renewed U.S.-China agreement.