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Equities Rise Intraday as Trump Upbeat After Call With China's Xi
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Equities Rise Intraday as Trump Upbeat After Call With China's Xi
Sep 21, 2025 3:16 AM

02:15 PM EDT, 09/19/2025 (MT Newswires) -- US benchmark equity indexes were higher intraday as President Donald Trump sounded upbeat after a call with his Chinese counterpart, Xi Jinping.

The Nasdaq Composite was up 0.5% at 22,579.2 after midday Friday, while the S&P 500 rose 0.3% to 6,652.1. The Dow Jones Industrial Average advanced 0.2% to 46,275.7. On Thursday, the three indexes closed at record-high levels.

Among sectors, technology paced the gainers intraday Friday, while energy saw the biggest drop.

Trump said Friday he had "a very productive call" with Xi.

"We made progress on many very important issues including trade, fentanyl, the need to bring the war between Russia and Ukraine to an end, and the approval of the TikTok deal," Trump wrote in a social media post.

While the two leaders made substantial progress toward a deal for TikTok, they were unable to come to a final agreement for the short-video app, CNBC reported, citing a White House official.

Earlier this week, Reuters reported that US and Chinese officials had reached a framework to switch TikTok to US-controlled ownership that was expected to be confirmed during Friday's call between Trump and Xi.

US Treasury yields were higher intraday, with the 10-year rate rising 3.3 basis points to 4.14% and the two-year rate adding 1.4 basis points to 3.58%.

In company news, Apple ( AAPL ) shares were up 3.1%, among the top gainers on the Dow, the S&P 500 and the Nasdaq. Sales of the tech giant's iPhone 17 have opened to strong demand for the Pro models, media outlets reported.

FedEx ( FDX ) shares rose 2.5%. The parcel delivery giant late Thursday logged fiscal first-quarter results that rose more than expected, buoyed by domestic package revenue gains and cost reductions.

Lennar ( LEN ) shares were down 3.7% intraday Friday, among the steepest drops on the S&P 500. The homebuilder late Thursday issued a fiscal fourth-quarter delivery outlook below market estimates, while it recorded weaker-than-expected results in the prior three-month period amid persistent housing market challenges.

Hasbro ( HAS ) and fellow toymaker Mattel ( MAT ) are expected to see more fourth-quarter-weighted revenue amid a cautious retailer approach to inventory this holiday season given consumer uncertainty, BofA Securities said Friday. Hasbro ( HAS ) shares were down 2.4%, while Mattel ( MAT ) fell 2.3%.

West Texas Intermediate crude oil was down 1.2% at $62.81 a barrel intraday.

"Crude oil trades lower as (Trump) said that the war in Ukraine would end if prices come down further," Saxo Bank said in a report. On Thursday, Ukraine attacked two Russian refineries, marking "some of the deepest ever strikes into Russian territory," according to the report.

Gold was up 0.9% at $3,710.50 per troy ounce, while silver jumped 2.4% to $43.13 per ounce.

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