Markets Right Now: Stocks open sharply higher on Wall Street

NEW YORK (AP) — The latest on developments in financial markets (all times local):

9:35 a.m.

Stocks are opening sharply higher on Wall Street, following gains in overseas markets after the U.S. and China struck a 90-day truce in their trade dispute.

The Dow Jones Industrial Average jumped more than 400 points in early trading Monday following the cease-fire.

The initial agreement to stand down on trade came at a dinner meeting between President Donald Trump and his Chinese counterpart Xi Jinping at the G-20 summit over the weekend.

Big-name tech companies led U.S. stocks higher. Apple rose 2.2 percent.

The Dow rose 427 points, or 1.7 percent, to 25,962.

The S&P 500 index rose 37 points, or 1.3 percent, to 2,797. The Nasdaq composite climbed 130 points, or 1.8 percent, to 7,457.