Wall Street closed sharply higher on Monday buoyed by a trade truce between the United States and China.

Wall Street closed sharply higher on Monday buoyed by a trade truce between the United States and China. Moreover, OPEC and Russia jointly agreed to extend crude oil production cut in order to stabilize prices. All three major stock indexes closed in the green with S&P 500 recorded its new all-time high level. The Dow Jones Industrial Average (DJI) soared 0.4% or 117.47 points to close at 26,717.43 The S&P 500 surged 0.8% to close at 2,964.33. Meanwhile, the Nasdaq Composite Index closed at 8,091.16, jumping 1.1%. The fear-gauge CBOE Volatility Index (VIX) decreased 6.8% to close at 14.06. A total of 7.04 billion shares were traded on Monday, lower than the last 20-session average of 7.15 billion. Advancers outnumbered decliners on the NYSE by a 1.57-to-1 ratio. On Nasdaq, a 1.50-to-1 ratio favored advancing issues.