As Chinese President Xi Jinping lands at Joint Base Andrews near Washington, DC, for a high-level meeting with US President Donald Trump, markets and …
1/6US Markets | US stocks traded lower on Wednesday as rising Treasury yields weighed on equities, with investors concerned that the Federal Reserve could raise interest rates further. The S&P 500 fell 0.3%, while the Nasdaq Composite declined 0.5%. The Dow Jones Industrial Average was down 159 points, or 0.3%, in afternoon trading.
2/6US-Iran war | Iran’s military on Wednesday described US President Donald Trump’s threats to annihilate Tehran as “a sign of strategic desperation,” warning the country stands ready to inflict strikes “more crushing” than earlier in the nearly seven-month conflict. The combative message, which was carried by Iran’s semi-official Mehr news agency, accused Trump of trying to use the United Nations podium to justify aggression.
3/6US Business Activity | US business activity rose at the fastest pace in more than five years as robust demand pushed up new orders and employment at manufacturers and service providers. The S&P Global flash US composite purchasing managers index climbed to 58.4 in September, according to data released Wednesday. That was the highest since July 2021. Figures above 50 indicate expansion.
4/6Crude oil | Oil rose as traders weighed soaring fuel prices against the outlook for a recovery in crude flows from the Middle East. Brent rose back above $100 a barrel in a choppy session, snapping five days of declines. European diesel futures surged on Wednesday after President Donald Trump said he’s pushed for a ban on US exports of the fuel.
5/6Trump-Xi Summit | Chinese President Xi Jinping and his wife, Peng Liyuan, are set to arrive in the US on Wednesday for a high-level meeting with President Donald Trump. Xi is expected to land at Joint Base Andrews near Washington DC, where Trump is likely to personally receive him at a State Arrival Ceremony. The main engagements are scheduled for Thursday, September 24, when Xi and Trump are expected to hold their much-awaited bilateral meeting. The two leaders are likely to discuss trade, rare earths and artificial intelligence. Later on Thursday, Xi and Peng are expected to attend a formal state dinner hosted by Trump and First Lady Melania Trump in the White House’s East Room.
6/6US economic data | US weekly jobless claims are due at 7:00 p.m. IST on Thursday, followed by August new home sales at 8:30 p.m. IST. Initial jobless claims stood at 196,000 in the week ended September 12, while new home sales were at 607,000 in July.