It’s not over until it’s over, but President Donald Trump might have secured his re-election on Friday by calling an armistice in his trade war with China.

The best-performing sectors in today’s market rally are the ones most sensitive to the overall condition of the world economy and world trade, starting with energy equipment, energy exploration and development, retail, mining and transportation. These are sectors that are exposed to the indirect effects of trade war with China.

The small-capitalization Russell 2000 Index, whose members typically are exposed to the US economy rather than to China, rose by 2.4% at midday, outperforming the broad market indices, which rose by about 1.4%.