From Yahoo Finance: 2025-05-12 09:08:00

US and China agree on 90-day tariff standstill, reducing penalties. Roundhill Magnificent Seven ETF jumps 6% in premarket trading. Analysts optimistic about AI capex and trade implications. Traders use ETF as proxy for Mag 7 stocks. Tech megacaps beat earnings estimates, easing AI demand concerns amid trade war. Mag 7 companies deliver 28% earnings growth in Q1, outperforming S&P 500 stocks by 19%. Investors see potential for Mag 7 to outpace S&P 500 in earnings growth this year, prompting interest.

Read more: US-China tariff agreement may add fuel to ‘Magnificent 7’ stock rally