FX.co ★ US Stocks Rebound Toward Record Highs

U.S. stocks saw a resurgence on Thursday, with the three major indices closing near record levels. The S&P 500 rose by 0.6%, the Dow Jones edged up 0.3%, and the Nasdaq increased by 0.9%. This uptick was driven by buoyant corporate earnings and a White House announcement that President Trump will meet with Chinese President Xi Jinping in South Korea next Thursday, providing some relief to recent US-China trade tensions. Leading the tech sector gains were Nvidia, Amazon, and Broadcom, each increasing by 1.1% or more, while Oracle rose by 2.5%. Honeywell and American Airlines experienced significant jumps, surging by 6.8% and 7.2%, respectively, after reporting robust quarterly earnings. Tesla saw a 1.7% gain, recovering from early session losses. Energy stocks also benefitted from a spike in oil prices, following the U.S.'s imposition of new sanctions on Russia’s top crude producers. With over 80% of the S&P 500 companies that have reported beating earnings expectations, investor confidence in corporate resilience remains strong. Attention now turns to the upcoming inflation data on Friday, which could provide insights ahead of the Federal Reserve’s policy meeting later in October.