Wall Street surged overnight as investor sentiment improved following President Trump's softened stance on trade, fueling hopes for a deal with China. Technology stocks led the rally, with notable gains across the sector. Tesla shares rose after Elon Musk signalled a pullback from DOGE-related activity, while Boeing reported a smaller-than-expected loss despite ongoing trade war concerns. US bond yields were mixed amid Trump's latest pivot on the Federal Reserve and tariffs, while the US dollar rebounded as the White House moved to ease tensions with China. In commodities, oil prices retreated more than 2%, and gold slid as demand for safe-haven assets waned. Closer to home, futures point to a flat start for the ASX, following yesterday’s gains.

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