Wall Street scales fresh highs on tech earnings, US-China trade optimism

AWANI

Wall Street's main indexes posted record closing highs for the second day in a row on Monday (October 27) as investors were hopeful about the prospects for a U.S.-China trade deal and looked forward to a week packed with high-profile technology earnings and a widely expected U.S. interest rate cut.

Transcript

00:00Welcome back to Nia Gawani and here's some international updates.

00:03Wall Street's main indexes posted record closing highs for the second day in a row on Monday,

00:07October 27th, as investors were hopeful about the prospects for a U.S.-China trade deal

00:12and looked forward to a week packed with high-profile technology earnings

00:16and a widely expected U.S. interest rate cut.

00:19According to preliminary data, the S&P 500 gained 82.92 points or 1.23 percent

00:26to end at 6,874.61 points, while the Nasdaq Composite gained 431.22 points or 1.86 percent

00:36to 23,636.09. The Dow Jones Industrial Average rose 333.87 points or 0.71 percent to 540.99.

00:49Today we're coming into a huge week. We have a trifecta of events.

00:53We have the Fed on Wednesday with another rate cut.

00:58We have Trump-She meeting on Thursday in Asia, and we have a third of the S&P 500

01:04reporting earnings this week with five of the MAG-7.

01:08But what's really contributing to the positive sentiment in markets today is the positive,

01:15you know, commentary from Treasury Secretary Bessent yesterday related to the framework

01:20for a really good trade deal on Thursday for Trump and Xi to agree to.

01:25So that's really supporting markets today.

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