President Donald Trump and Chinese leader Xi Jinping met in Washington for their second summit of the year as Wall Street turned bullish. The S&P 500 climbed 1.5% for its best day since early August, while the Nasdaq Composite jumped 2.3% to post its first record close since June. Intel, AMD, and Qualcomm led gains with double-digit percentage increases ahead of the meeting. Bank of America analysts expect a modest one-year extension of the Busan trade truce expiring November 10, with no major breakthrough anticipated. Oil prices fell more than 4% as Middle East tensions eased, while the effective US tariff rate on Chinese goods remains near 23%.
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