Stocks rose at the start of a heavy week for earnings, with major indexes climbing back toward records hit earlier in October.
The possibility of easing U.S.-China tensions buoyed investor sentiment, said Joseph Brusuelas, chief economist at RSM. President Trump has said he will meet with China’s leader, Xi Jinping, soon, and Treasury Secretary Scott Bessent said Friday he will meet with his Chinese counterpart in person this week.
The Dow Jones Industrial Average rose about 516 points, or around 1.1%. The S&P 500 also gained 1.1%, while the Nasdaq composite climbed 1.4%. All three now stand less than 0.3% from all-time highs.
A climb in Apple boosted major indexes. Its shares rose 3.9% to their first record close since December after a report that sales of this year’s iPhone models had started strongly.
