The Chinese e-commerce company reported a quarterly net income of $1.8 billion, as revenue rose 16% from a year ago to $41.5 billion.

Wall Street was on track to open with losses as the initial euphoria over the 90-day truce in the U.S.-China trade war faded.

Chinese leader Xi Jinping reinforced his message on U.S. trade policy Tuesday at a Beijing gathering of leaders and foreign ministers from Latin American and Caribbean countries, amid China’s efforts to rally international opinion against President Trump’s global tariffs.

A 90-day pause on punishing tariffs could restart trade between the world’s largest economies. But it is not enough to resolve uncertainty about the economy.

US stocks surged to close near the highs of the session on Monday after a US-China deal to temporarily slash reciprocal tariffs offered relief to markets worried about a trade war. Wall Street notched a banner day after the US and China put tariffs on pause for 90 days,

Stock futures rose Sunday after Treasury Secretary Scott Bessent said “substantial progress” was made in trade negotiations with Chinese officials, potentially thawing tensions kickstarted by Trump’s escalating tariff policy.

Boeing’ stock rallies toward a 14-month high as trade deal with China fuels hope of new orders and deliveries announcements.