US stocks rose sharply as President Trump announced a meeting with Chinese leader Xi Jinping next week, boosting hopes for trade tensions to ease. The S&P 500 gained 0.6% while the Nasdaq composite jumped 0.9%. Energy prices surged after new sanctions on Russia’s two largest oil companies were introduced.
Trump’s move comes amid escalating tensions with Russia and Ukraine, but experts say it’s unclear if sanctions will deter buyers of Russian oil. The EU has also approved a ban on Russian liquefied natural gas imports starting next year.
Source: https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-10-23-2025