Wall Street opened sharply higher Monday, led by gains in chipmakers, as trade tensions between the U.S. and China appeared to ease over the weekend. Dow Jones futures rose 0.9%, S&P 500 futures gained 1.2%, and Nasdaq futures surged 1.7%. The early rally, however, could not fully offset Friday’s losses, when the S&P 500 fell 2.7%, the Dow dropped 1.9%, and the Nasdaq tumbled 3.6%.

The weekend saw a more conciliatory tone from U.S. President Donald Trump, who said on Truth Social, “The U.S.A. wants to help China, not hurt it!!!” This followed Beijing’s call for Trump to retract his Friday tariff threats after China imposed stricter export controls on rare earth materials.

Chipmakers led Monday’s gains, with Micron climbing 4.9%, Advanced Micro Devices up 3.4%, and Nvidia and Broadcom each rising about 3%. Investors now look ahead to the start of U.S. bank earnings on Tuesday, along with reports from United Airlines and Johnson & Johnson.

In Asia, markets were mixed as China’s exports rose 8.3% year-on-year in September, though U.S. exports fell 27%. Hong Kong’s Hang Seng dropped 1.5%, while Shanghai’s Composite edged down 0.2%. European indexes were modestly higher, with Germany’s DAX and France’s CAC 40 up 0.4%, and Britain’s FTSE 100 unchanged.

Energy markets saw gains, with U.S. crude rising $1.21 to $60.08 per barrel and Brent crude up $1.12 to $63.85.