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The U.S. and China will meet in early October for renewed trade talks, China’s Ministry of Commerce announced early Thursday, local time. U.S. stock futures shot up immediately after the announcement. The two sides will meet in Washington in early October, with “serious consultations” in mid-September to lay the groundwork for the high-level meeting, according to a Google translation of the statement. The White House confirmed the new talks, according to the Wall Street Journal, which reported that while welcoming them, U.S. officials were taking a wait-and-see approach to what China might bring to the negotiating table. News of new negotiations comes as a relief for investors, following the latest round of tit-for-tat tariff hikes that went into effect Sept. 1. Dow Jones Industrial Average futures YM00, +1.05% rose about 300 points, or about 1.1%, following the announcement. S&P 500 futures ES00, +0.99% and Nasdaq Composite futures NQ00, +1.30% were also up around 1%.