Wall Street erupted into a buying frenzy Monday as the Dow soared 1K+ points. Weekend negotiations in Geneva delivered a shocking trade détente as Treasury Secretary Bessent and Chinese Vice Premier He Lifeng struck a 90-day deal. With euphoric markets, some analysts whisper about dangerously overbought territory.

• US and Chinese tariffs plummeted from 145% to 30% and 125% to 10% respectively, with “a more fulsome agreement” in the coming weeks — as Trump touts, “They’ve agreed to open up China.”
• The interim deal surged the S&P 500, Nasdaq, and Dow Jones by 3.26%, 4.35%, and 2.81% Monday, respectively — with our recently-covered tariff victims like ShopifySHOP
  , CumminsCMI
  , and OilXOP
  fueling 13.7%, 7.8%, and 3.7% recoveries.

Greed is good? In one month, CNN’s sentiment meter has flipped from “Extreme Fear” (19 points) to “Greed” (67) as investor psychology does a complete 180. While markets throw a tariff-slashing party, UBS warns the “volatility is likely to stay,” with Piper Sandler questioning if this “tariff equilibrium” will last beyond the Jul. 9 deadline. After all, in this tariff tango, both dancers know the tune could change dramatically when the music stops.