U.S. equities soared at midday after the U.S. and China agreed to slash their tariffs for 90 days. The Nasdaq jumped about 3.5%, while the Dow Jones Industrial Average and S&P 500 were up more than 2%.

Shares of Apple (AAPL), Nvidia (NVDA), Tesla (TSLA), and other tech companies with major business ties with China were up.

The tariff news also boosted shares of toolmaker Stanley Black & Decker (SWK), which had recently warned the initial duties would significantly impact profits.

NRG Energy (NRG) was the best-performing stock in the S&P 500 as the nuclear power provider’s first-quarter results easily exceeded estimates. Separately, the company purchased the natural gas generation and power plant platform from LS Power for about $12 billion, doubling its generation capacity.

Next Technology Holding (NXTT) soared for a second straight session after the company revealed it added 5,000 bitcoin to its portfolio this year and plans to add more.

Shares of Newmont (NEM) and rival gold miners tumbled along with the price of the precious metal on the tariff deal. Gold had been soaring as a haven for investors concerned about the effects of tariffs.

Shares of Cigna Group (CI) fell when the health insurer came under fire for denying coverage for a patient awaiting an experimental treatment for lung cancer. 

Oil futures rose. The yield on the 10-year Treasury note advanced. The U.S. dollar gained on the euro, pound, and yen. Most major cryptocurrencies were lower.