20.10.202516:07:36UTC+00US Stocks Hold Strong Session

On Monday, U.S. stocks experienced significant gains fueled by optimism surrounding upcoming earnings reports and renewed banking sector support. Additionally, markets were buoyed by the prospects of reduced trade barriers between the U.S. and China. Both the S&P 500 and the Dow saw an increase of nearly 1%, while the Nasdaq 100 rose by 1.5%, positioning itself for a record-high close. Wells Fargo and Citigroup each climbed almost 3%, alongside other leading financial institutions, as investors reassessed concerns over credit stress and the forecast for non-performing loans in the U.S., alleviating pressures that had built since the start of the month. Meanwhile, Apple escalated by 4.5% to reach a new apex, driven by indicators of robust iPhone 17 sales in both the U.S. and China. Overall sentiment improved further as President Trump indicated a potential easing of trade tensions with China, preceding upcoming discussions in Malaysia. Additionally, a Wall Street Journal report highlighted Trump's move to exempt numerous products from reciprocal tariffs. Ahead of its earnings report this week, Tesla gained 1%.