Wall Street hits record highs on trade deal, rate cut hopes

Business Oct 28, 2025

Wall Street just notched record highs for the second day straight, thanks to fresh hopes around a US-China trade deal and buzz over big tech earnings.
Investors are also feeling upbeat about a possible Fed interest rate cut this Wednesday, after some cooler inflation numbers.

Trade talks, tech earnings to drive market

US President Donald Trump and China's Xi Jinping are set to meet on Thursday to talk tariffs and rare-earth exports—potentially easing some long-running trade tensions.
Meanwhile, everyone's watching for earnings from the "Magnificent Seven" tech giants, which could show off more growth in AI.
Semiconductor stocks like NVIDIA and Qualcomm also helped push markets up, while market volatility dropped to a one-month low.