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Here are five things you must know for Monday, Dec. 3:

1. -- Stocks Soar on U.S.-China Trade Truce

U.S. stock futures were posting substantial gains on Monday, Dec. 3, after Donald Trump proclaimed a 90-day "truce" in the still-simmering trade war between Washington and Beijing following this weekend's G-20 Summit in Argentina.

A White House statement from the weekend said Trump will hold off on increasing tariffs on China-made goods, which were set to kick in on Jan. 1, for at least 90 days as the two sides negotiated a settlement on trade, technology transfer and intellectual property theft disputes that have eroded relations for must of the past year. China's state-run newspaper said the agreement was an "important consensus," but made no reference to a 90-day time frame and didn't corroborate some of the specifics mentioned in the White House communique. China's Foreign Ministry, however, told reporters Monday that it had been instructed to examine the removal of all trade tariffs between the two countries.

Contracts tied to the Dow Jones Industrial Average jumped 447 points, futures for the S&P 500 rose 42.25 points, and Nasdaq futures soared 156.50 points.

Apple Inc.  (AAPL - Get Report)  shares were rising 3.2% in premarket trading on Monday as investors bet that a truce in the U.S.-China trade war will eliminate a key tariff risk that had been lingering over the world's most valuable tech company.

The economic calendar in the U.S. Monday includes the PMI Manufacturing Index for November at 9:45 a.m. ET, Construction Spending for October at 10 a.m., and the ISM Manufacturing Index for November at 10 a.m.

U.S. automakers, including Ford Motor Co. (F - Get Report) , are expected Monday to report sales for November throughout the day.

Earnings reports are expected Monday from Ascena Retail Group Inc. (ASNA - Get Report) and Finisar Corp. (FNSR - Get Report) .

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2. -- NYSE, Nasdaq to Close Wednesday to Honor George H.W. Bush

The New York Stock Exchange and the Nasdaq Stock Market will be closed on Wednesday, Dec. 5, to honor former President George H.W. Bush, who died Friday at 94.

"We remember President Bush admiringly as a veteran who fought totalitarianism, a statesman who advocated for freedom, a leader who served his country, and an unabashedly dedicated family man," NYSE Group President Stacey Cunningham said in announcing her exchange's closure. "He will be remembered for his decades of service to the nation and the world, and it is appropriate that the New York Stock Exchange closes on Wednesday, the National Day of Mourning, to honor President Bush's enduring legacy."

The Nasdaq similarly announced plans to "observe the passing of President George H.W. Bush by closing all Nasdaq U.S. equities and options markets." Both markets also intend to honor the former president with a moment of silence before trading begins on Monday, while the NYSE plans to fly the American flag in front of its building at half-staff.

Donald Trump has declared Wednesday as a "National Day of Mourning" to honor Bush, who served in the White House from 1989 to 1993 following a long history in politics and government that included eight years as late President Ronald Reagan's vice president. Prior to that, Bush was as a Texas congressman, U.S. ambassador to the United Nations and director of the Central Intelligence Agency. 

3. -- Nexstar Reaches Deal to Buy Tribune Media

Nexstar Media Group Inc. (NXST - Get Report)  confirmed Monday it reached a deal to buy Tribune Media Co. (TRCO - Get Report) for $6.4 billion, including debt.

The combined company would be the largest local U.S. TV station operator. Reuters reported ther merger could be announced on Monday.

Nexstar outbid private-equity firm Apollo Global Management LLC (APO - Get Report) with an all-cash offer that values Tribune at around $46.50 a share. Tribune closed Friday, Nov. 30, at $40.26. It was rising 10.5% in premarket trading on Monday to $44.50.

Tribune's $3.9 billion deal to sell itself to Sinclair Broadcast Group Inc. (SBGI - Get Report) collapsed earlier this year because of regulatory hurdles.

4. -- Amazon Said to Be Testing Cashierless Technology for Bigger Stores

Amazon.com Inc. (AMZN - Get Report) has been testing its cashierless checkout technology for bigger stores, The Wall Street Journal reported, citing people familiar with the matter. 

Amazon is experimenting with the technology in Seattle in a larger space formatted like a big store, the people told the Journal. The systems track what shoppers pick from shelves and charges them automatically when they leave a store.

Although the technology functions well in its current small-store format, it is harder to use in bigger spaces with higher ceilings and more products, one of the people told the Journal. 

It's unclear whether Amazon intends to use the technology for Whole Foods, although that is the most likely application if it will work, according to the people, the Journal reported. Amazon previously has said it has no plans to add the technology to Whole Foods.

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5. -- Qualcomm Won't Revive Collapsed NXP Deal

Qualcomm Inc. (QCOM - Get Report) told Reuters its collapsed $44 billion acquisition of NXP Semiconductors N.V. (NXPI - Get Report) won't be revived, rejecting a suggestion by the White House that it could be completed.

Following the weekend talks between Donald Trump and Chinese President Xi Jinping, the White House said that China was "open to approving the previously unapproved" deal for Qualcomm to acquire NXP "should it again be presented." Qualcomm abandoned the deal to buy NXP in July after failing to secure Chinese regulatory approval.

Qualcomm said in an email to Reuters that there was no prospect for the acquisition to be revived.

"While we were grateful to learn of President Trump and President Xi's comments about Qualcomm's previously proposed acquisition of NXP, the deadline for that transaction has expired, which terminated the contemplated deal," a Qualcomm representative told Reuters via email.