Farm and construction equipment makers rise on US-China trade deal

Shares of U.S.-based construction and farm equipment makers rise premarket

Caterpillar CAT.N rises 4.1%, Deere DE.N up 2.2% and CNH Industrial CNH.N up 2.5 %

U.S. and China reach deal to slash reciprocal tariffs - which was affecting prices of industrial metals and other raw materials, crucial for manufacturing equipment

Both countries agreed on a 90-day pause on measures and that tariffs would come down by over 100 percentage points to a 10% baseline rate

YTD, Dow Jones U.S. Industrials Index .DJI has fallen 3%