Stocks Advance After Bessent Says Talks with China Were Successful Before Trump-Xi Meeting – WTOP News
- On Monday, U.S. stock futures climbed as Dow Jones Industrial Average futures rose 0.8%, with Dow futures jumping more than 400 points ahead of an anticipated summit between President Donald Trump and Chinese President Xi Jinping.
- Crude prices dropped more than 3% Monday, with West Texas Intermediate falling to $97.09 a barrel, easing investor concerns following Saturday's ballistic missile attack on Saudi Arabia by Iran-backed Houthi rebels.
- Treasury Secretary Scott Bessent told reporters following Sunday's talks in New York with Chinese Vice Premier He Lifeng that the U.S. had "a very successful engagement" covering trade and artificial intelligence.
- The Federal Reserve raised rates last week for the first time in three years, keeping the U.S. 10-year Treasury yield elevated at around 4.96% on Monday amid persistent inflationary pressures.
- Beijing confirmed Xi will pay a state visit to the United States between Sept. 23 and 25, with the summit agenda expected to span tariffs, critical minerals, and artificial intelligence safety.
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The session is thus marked by the dissemination of preliminary indicators of economic activity in the United States and the approach of the summit between Presidents Donald Trump and Xi Jinping.
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The decline in oil and the hopes of appeasement support Wall Street before the meeting between Donald Trump and Xi Jinping. ...
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