Why SoundHound AI Stock Skyrocketed Today

Shares of SoundHound AI (NASDAQ: SOUN) were soaring on Monday. The artificial intelligence (AI) voice technology company's stock closed the day up 22.6%, and was up as much as 24.9% earlier in the day. The significant jump comes as the S&P 500 (SNPINDEX: ^GSPC) gained 3.3% and the Nasdaq Composite (NASDAQINDEX: ^IXIC) surged 4.3%.A temporary reduction in U.S.-China tariffs is driving optimism across the market.The United States and China announced a temporary agreement to reduce the sky-high tariffs imposed on each other following President Trump's "Liberation Day" announcement last month. Under the agreement, the U.S. will reduce the tariff on Chinese imports to 30% from its current 145%, while China will lower its import duty on American goods to 10% from 125%.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool