Wall Street extended its record-setting streak on Monday, with major large-cap indices logging a third consecutive session of strong gains after a breakthrough in trade negotiations between Washington and Beijing.
U.S. trade negotiators reached a "very successful framework" with their Chinese counterparts, according to statements made by Treasury Secretary Scott Bessent. The development came ahead of a potential meeting between President Donald Trump and President Xi Jinping in the coming days.
Markets cheered the progress, as the immediate threat of an additional 100% U.S. tariff on Chinese goods appeared to have been averted. Beijing, in turn, pledged to delay planned restrictions on rare-earth exports and to resume purchases of American soybeans.
China, however, described the outcome as a "preliminary consensus," noting that both sides must now seek domestic approval before formally ratifying the details.
Meanwhile, the top three stock benchmarks hit fresh all-time highs:
- The S&P 500 climbed 1% to 6,860
- The Nasdaq 100 outperformed with a 1.7% rise to 25,780.
- The Dow Jones Industrial Average advanced 0.5% to 47,440.
Among notable movers, Qualcomm Inc. (NASDAQ:QCOM) surged more than 12% after unveiling two next-generation AI chips — the AI200 and AI250 — designed for data centers and expected to debut in 2026 and 2027.
In earnings news, Keurig Dr. Pepper Inc. (NASDAQ:KDP) jumped 7% on better-than-expected quarterly results, while Revvity Inc. (NYSE:RVTY) fell 2% as revenues slightly missed estimates.
Precious metals extended their pullback, with gold tumbling 2.9% to $3,990 per ounce and silver sliding 4% to $46.60, as investors continued to take profits after strong year-to-date rallies. Newmont Corp. (NYSE:NEM) — the world's largest gold miner — was the S&P 500's worst performer, down 6.4% and extending Friday's losses after its earnings report.
Meanwhile, Bitcoin (CRYPTO: BTC) edged 0.7% higher to $115,000.
Monday’s Performance In Major US Indices, ETFs
| Major Indices | Price | Chg (%) |
| Nasdaq 100 | 25,790.26 | +1.7% |
| S&P 500 | 6,862.36 | +1.0% |
| Dow Jones | 47,443.97 | +0.5% |
| Russell 2000 | 2,515.15 | +0.1% |
According to Benzinga Pro data:
- The Vanguard S&P 500 ETF (NYSE:VOO) rose 1% to $628.64.
- The SPDR Dow Jones Industrial Average (NYSE:DIA) rose 0.5% to $474.48.
- The tech-heavy Invesco QQQ Trust Series (NASDAQ:QQQ) rallied 1.6% to $626.87.
- The iShares Russell 2000 ETF (NYSE:IWM) edged 0.1% higher to $349.75.
- The Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY) outperformed, up 1.6%; the Utilities Select Sector SPDR Fund (NYSE:XLU) lagged, down 0.4%.
S&P 500’s Top 5 Gainers
- Qualcomm Inc. up 12.5%
- EMCOR Group Inc. (NYSE:EME) up 7.5%
- Keurig Dr Pepper Inc. up 6.9%
- Super Micro Computer Inc. (NASDAQ:SMCI) up 5.5%
- Robinhood Markets Inc. (NASDAQ:HOOD) up 5.1%
S&P 500’s Top Losers
- Newmont Corp down 6.7%
- Albemarle Corp. (NYSE:ALB) down 6.0%
- Western Digital Corp. (NASDAQ:WDC) down 4.0%
- Ford Motor Co. (NYSE:F) down 3.9%
- Huntington Bancshares Inc. (NASDAQ:HBAN) down 3.5%
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