Wall Street Rallies as Oil Prices Slip and US-China Talks Approach
· Business · CNBC, Reuters
Wall Street equities rallied on Monday driven by AI-linked stocks, while oil prices and Treasury yields declined. The S&P 500 climbed 1.5% and the Nasdaq Composite jumped 2.3% to its first closing record since June. Crude oil pulled back below $100 a barrel as West Texas Intermediate dropped 4.5% to $95.78 and Brent settled at $100.34. The market gains came ahead of Chinese leader Xi Jinping's arrival in Washington to meet US President Donald Trump. Meanwhile, Eli Lilly CEO Dave Ricks reported that hundreds of thousands of seniors have begun GLP-1 treatment since Medicare's obesity-drug coverage expanded in July.
Why it matters
Easing oil prices and bond yields relieved inflation pressures on markets ahead of high-stakes diplomatic meetings between the US and China.
Read the original report — CNBC
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