Wall Street marches higher ahead of Trump-Xi summit

Major U.S. stock indices moved higher on Monday as market participants shifted focus to an upcoming high-stakes bilateral summit between President Donald Trump and Chinese President Xi Jinping at the White House. The tech-heavy Nasdaq led the advance with a 1.1% gain, while the benchmark S&P 500 rose 0.6% and the blue-chip Dow Jones Industrial Average added 0.1%. Market breadth showed six of the eleven S&P sectors advancing, with communication services outperforming while the energy sector lagged. Macroeconomic data and geopolitical developments framed the broader market backdrop. The Chicago Fed National Activity Index printed at -0.04 for August, coming in ahead of expectations despite pointing to moderation compared to July. Simultaneously, U.S. Treasury yields retreated across the curve, with 2-year, 10-year, and 30-year yields each falling by 2 basis points. Investors also tracked individual mover dynamics, such as Arm Holdings surging over 9%, alongside White House warnings on travel to Iran.