Wall Street Edges Higher After Trump–Xi Meeting Confirmed
In Europe, the Euro Stoxx dropped 1.45%. Germany’s DAX fell 2.11%, while France’s CAC 40 slipped 0.74%. UK’s FTSE 100 lost 1.42%.
Quick overview
- U.S. stocks showed slight gains on Friday, with the S&P 500 up 0.18% and the Dow Jones Industrial Average rising 0.28%.
- President Trump's confirmation of a scheduled meeting with China provided some relief to investors amid market volatility.
- Despite the overall market uptick, major tech stocks like Nvidia and Tesla experienced declines of over 2%.
- Global markets faced a negative trend, with significant losses reported in Europe and Asia.
Despite signs of exhaustion in major equity markets, recent comments from the U.S. president about trade negotiations with China provided some relief to investors.
U.S. stocks traded slightly higher on Friday after the previous session showed the first hints of fatigue in the months-long rally on Wall Street.
The S&P 500, which tracks the largest U.S. companies, gained 0.18%, while the tech-heavy Nasdaq Composite rose 0.17%. The Dow Jones Industrial Average advanced 0.28%.
However, some of the most actively traded names—Nvidia, Tesla, Palantir, and AMD—fell more than 2% in market trading.
Key Drivers on Wall Street
President Donald Trump confirmed that a meeting with his Chinese counterpart is still on schedule, easing some tensions. Still, investors remain on edge due to mounting credit concerns at regional banks.
Yesterday, regional lender Zions plunged 13% after warning it would record $50 million in third-quarter losses tied to two loans from its California division. Western Alliance shares sank 11% after filing a fraud lawsuit against Cantor Group V, LLC.
Adding to the unease: the ongoing U.S. government shutdown, now in its 17th day, and growing skepticism toward the artificial intelligence sector amid fears of a potential bubble.
Global Markets in the Red
The global backdrop is largely negative. In Europe, the Euro Stoxx dropped 1.45%. Germany’s DAX fell 2.11%, while France’s CAC 40 slipped 0.74%. Outside the eurozone, the UK’s FTSE 100 lost 1.42%.
Asian markets also tumbled. The Shanghai Composite fell 1.95%, Hong Kong’s Hang Seng dropped 2.48%, and Japan’s Nikkei 225 declined 1.48%.
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