Wall Street Surges Amid Trade Deal Hopes and Tech Earnings Boon

Wall Street’s major indexes soared to record closing highs for the second straight day on Monday, fueled by investor optimism over a possible U.S.-China trade agreement and the release of key technology earnings this week. Anticipation of a Federal Reserve interest rate cut also contributed to the upbeat climate.

U.S. President Donald Trump and China's President Xi Jinping are scheduled for a pivotal meeting on Thursday, where they’ll outline a framework aimed at easing tariffs and trade tensions, reducing anxiety among investors. The 'fear gauge', the VIX, dipped to a one-month low as expectations for market stability grew.

The 'Magnificent Seven', including tech titans Microsoft, Apple, Alphabet, Amazon, and Meta, will disclose their earnings later this week, a move closely watched by analysts eager to gauge AI-related growth. In other developments, Qualcomm's new AI chips announcement led to a surge in their stock, reflecting widespread interest in AI technology.