FX.co ★ US Stocks Set New Records

U.S. stocks soared to new heights following Treasury Secretary Scott Bessent’s announcement of a "very successful framework" for discussions between Presidents Trump and Xi this week. The S&P 500 increased by 1.3%, the Nasdaq climbed by 1.9%, and the Dow Jones Industrial Average gained 350 points. The proposed agreement includes a delay in China's rare-earth restrictions, likely averting the planned 100% tariffs, and a resumption of Chinese soybean purchases. Technology stocks led the gains, with Nvidia and Broadcom rising by 2.1% and 2.4%, respectively, while Qualcomm surged by 9.5% after introducing new AI processors tailored for data-center operations. This strategic shift boosted Qualcomm shares to new highs as investors reassessed the company's market opportunities and immediate revenue prospects. Additionally, Tesla advanced by 4.2%, and Apple saw an increase of 1.3%, as investors braced for a demanding week featuring Q3 earnings reports from major players like Alphabet, Amazon, Apple, Meta, and Microsoft, alongside an anticipated 25 basis point interest rate reduction by the Federal Reserve on Wednesday.