The S&P 500 has risen on Thursday, lifted by technology shares and strong corporate earnings. The index closed up 0.58% at 6,738.44. The Dow Jones gained 144 points, or 0.31%, finishing at 46,734.61. The Nasdaq Composite outperformed, advancing 0.89% to settle at 22,941.80.
Tech giants led the charge, with Nvidia, Broadcom and Amazon pacing gains. Oracle surged nearly 3%, extending momentum across the artificial intelligence sector.
Political news fuels late rally
Markets pushed to session highs after White House press secretary Karoline Leavitt announced President Donald Trump will meet Chinese President Xi Jinping next Thursday in South Korea. The news eased concerns over trade tensions that had weighed on equities the day before, when reports of possible U.S. export restrictions had unsettled investors.
That announcement comes as Washington prepares new rules to limit the sale of software to China by 1 November.
Individual stock movers
Honeywell shares rose almost 7% after the company beat quarterly estimates and upgraded full-year guidance, making it the strongest contributor to the Dow. American Airlines gained 6% after reporting a narrower loss than expected and issuing upbeat guidance.
Tesla recovered from early weakness to close up 2%, while Amazon also finished higher. IBM pared losses, closing steady after a mixed set of results.
Oil prices also moved higher, following new U.S. sanctions on Russia’s two largest crude producers, while gold bounced and bitcoin steadied near US$110,000.
Eyes on inflation data
Attention now turns to Friday’s release of September U.S. consumer price data, one of the few key reports available during the federal government shutdown. Markets are pricing in a near-99% chance the Federal Reserve will cut rates by a quarter point at its late-October meeting.
Australian outlook
SPI 200 futures are pointing 6 points higher, suggesting local shares will follow Wall Street’s lead. Investors will watch quarterly updates from Newmont, Pilbara Minerals and Whitehaven Coal, as well as Reserve Bank governor Michele Bullock’s speech in Sydney.