03:58 PM EDT, 10/20/2025 (MT Newswires) -- US equity indexes rose ahead of the close on Monday, led by gains in communication services.

The Nasdaq Composite climbed 1.5% to 23,011.9, the S&P 500 gained 1.1% to 6,739.5, and the Dow Jones Industrial Average advanced 1.2% to 46,731.4. Consumer staples and utilities were the sole decliners.

Apple's ( AAPL ) iPhone 17 series outsold the iPhone 16 series by 14% during the first 10 days of availability in the US and China, Counterpoint Research said. Shares of Apple ( AAPL ) rose 4.4%, among the top gainers on the Nasdaq and the Dow.

All stocks in the so-called Magnificent-7 category rose, with Apple ( AAPL ) leading the pack, which has a significant weighting across the three benchmark indexes.

Meanwhile, the partial US federal government shutdown entered its 20th day on Monday, making it the third-longest shutdown in the country's history, according to media reports. The shutdown "is likely to end sometime this week" as "moderate" Democrats come together to strike a deal, Kevin Hassett, National Economic Council director, told CNBC.

With President Donald Trump leaving Oct. 26 for a multi-country visit through Asia that could last five or six days, the shutdown is at risk of lasting much longer if a deal is not reached before the weekend, USA Today reported.

Trump reportedly said he is open to lowering China tariffs if Beijing "gives us some things too," mixing a tough economic stance with signals of negotiation flexibility. He recently said 100% additional tariffs were unsustainable but seeks to end China's restrictions on rare earth mineral exports in upcoming trade talks.