US Stocks Rise as Oil Falls Amid Trump-Xi Summit Anticipation
US stock futures rose on September 21 as investors breathed a sigh of relief following a decline in crude oil prices. Treasury Secretary Scott Bessent described his talks with Chinese Vice Premier He Lifeng as a 'very successful engagement'. The S&P 500 futures increased by 0.7%, while the Dow Jones Industrial Average and Nasdaq 100 futures rose by 0.8% and 1.1%, respectively.
The recent gains come after Wall Street fluctuated last week due to rising tensions in West Asia, with the Dow Jones Industrial Average dropping 1.7% for the week. The upcoming Trump-Xi summit is expected to be a key focus point this week, with discussions likely to cover trade, tariffs, and artificial intelligence.
China's Foreign Ministry confirmed that President Xi Jinping will pay a state visit to the US from September 23 to 25. Trade and tariffs are expected to feature prominently in the discussions, as well as the war in Iran and China's ties with Iran.