US stocks were set to open firmly higher on Monday, extending the sharp gains from the previous week as de-escalation of geopolitical conflict and a softer stance on tariffs by the US government allowed markets to focus on signs of multiple rate cuts by the Fed this year. Contracts attached to the S&P 500 and the Nasdaq 100 were 0.6% higher, record highs, while the Dow was set to gain 300 points. White House officials announced that the US and China had formally reached an agreement to prevent the return of tariff exchanges that topped levies at 145%. Additionally, President Trump noted that he is open to extending the July 9th deadline for reintroducing reciprocal tariffs. Lastly, Canada withdrew its digital services tax to support the outlook for US tech companies and restart trade talks with Washington. Meta and Alphabet were set to open more than 2% higher. Also, Juniper Networks surged 9% after the DoJ settled its lawsuit against the company concerning its acquisition by HP.