Stocks rose Monday in premarket action after North Korean leader Kim Jong Un reportedly promised to not use nuclear or conventional weapons against South Korea and expressed willingness to hold talks with the United States on denuclearization.
South Korea’s presidential office said that North Korea and South Korea will hold a summit in late April — the first in over a decade — something that buoyed investor optimism. South Korea’s announcement follows a meeting between North Korean leader Kim Jong Un and a senior delegation from South Korea.
Reportedly, North Korea will halt weapons testing during the summit while the nation could also be open to talks with the U.S about denuclearization.
Equities were also boosted by President Trump tweeting that the tariffs he announced on aluminum and steel imports wouldn’t be applied to Canada or Mexico if NAFTA negotiations involving those countries produced a deal. Shares had taken a hit last week after the tariffs were announced.