Here are the most important news items that investors need to start their trading day:

1. Sigh of relief

Stock futures popped Monday after the U.S. and China announced they would temporarily cut tariffs on each other's imported goods. Shares of companies that sell many Chinese-made goods, like Best Buy and Amazon, and shares of semiconductor makers led the early rally. The move comes after the three major U.S. averages had their first losing week in three. Last week, the S&P 500 dipped 0.5%, the Nasdaq Composite slipped 0.3% and the Dow Jones Industrial Average slid 0.2%. Along with trade developments, investors will have their eye on April's consumer price index due Tuesday, followed by retail sales and the producer price index Thursday. Follow live market updates.

2. Tariff timeout

Washington and Beijing said they agreed to slash import duties for 90 days, helping to ease fears of a global economic downturn that have roiled financial markets, worried businesses and caused consumers to cut back on spending. U.S. officials said the agreement will reduce U.S. tariffs on Chinese goods to 30% from 145%, and Chinese duties on U.S. goods to 10% from 125%. While the deal appears to be a significant step toward resolving trade tensions that have rocked the world economy, it remains to be seen whether the detente will last beyond 90 days. Treasury Secretary Scott Bessent told CNBC he hopes to meet with Chinese officials in the "next few weeks" to "get rolling on a more fulsome agreement."

3. Where tariffs stand now

Trump's rapid-fire moves to implement – and sometimes pull back – tariffs on dozens of global trading partners in recent months have flummoxed businesses and shoppers. Here's a summary of where those import duties will stand after the China agreement:

• Tariffs on China: 30% during 90-day window
• Levies on dozens of trading partners targeted by so-called reciprocal tariffs: 10% during 90-day period that started in early April
• Duties on Canada and Mexico: 25% on goods not covered by the United States-Mexico-Canada Agreement, 10% on energy and potash
• Levies on steel and aluminum: 25% (with an exception for Great Britain)
• Tariffs on foreign-made vehicles: 25%
• Duties on some auto parts: 25%

4. Friends in high places

China isn't the only country Trump is making significant agreements with. He is set to accept a luxury jet from the Qatari royal family to use as Air Force One, sources told NBC News. The Boeing 747-8 plane, which was supposed to go to Trump's presidential library foundation after his second term, will instead be retrofit for use in his official role as president. A new commercial Boeing 747-8 jet costs about $400 million, according to the most recent public data. Accepting such a lavish gift would raise legal and conflict of interest questions. White House press secretary Karoline Leavitt told NBC News that any gift from a foreign government "is always accepted in full compliance with all applicable laws."

5. Your robot pharmacist

Walgreens is doubling down on automated prescription fills. The company plans to have its micro-fulfillment centers, where robots fill pill bottles under the direction of pharmacists and other staff, serve more than 5,000 stores by the end of this year. The move will help pharmacists at stores, who are often overwhelmed juggling multiple tasks, spend more time with patients. It will also help the drugstore chain cut costs as it prepares to go private under a $10 billion agreement with Sycamore Partners.

– CNBC's Yun Li, Fred Imbert, Sam Meredith, Jesse Pound, Leslie Josephs, Erin Doherty and Annika Kim Constantino contributed to this report.