Stock Market News Today: Dow Jones, S&P 500 Rally After Trump Hints At De-Escalation With China—Mag 7, Fastenal, Lucid

U.S. stock futures rose on Monday following Friday’s sell-off. Futures of major benchmark indices were higher. Magnificent 7 stocks surged in premarket following President Donald Trump‘s de-escalation on Sunday, saying, "Don’t worry about China, it will all be fine," adding that the "Highly respected President Xi just had a bad moment." Asian markets tumbled in trade on Monday, with major Chinese technology and auto stocks falling sharply in trade in Hong Kong.