Stocks Rally, Gold Tumbles On US-China Trade Progress - Albemarle (NYSE:ALB)

Wall Street extended its record-setting streak on Monday, with major large-cap indices logging a third consecutive session of strong gains after a breakthrough in trade negotiations between Washington and Beijing.

U.S. trade negotiators reached a "very successful framework" with their Chinese counterparts, according to statements made by Treasury Secretary Scott Bessent. The development came ahead of a potential meeting between President Donald Trump and President Xi Jinping in the coming days.

Markets cheered the progress, as the immediate threat of an additional 100% U.S. tariff on Chinese goods appeared to have been averted. Beijing, in turn, pledged to delay planned restrictions on rare-earth exports and to resume purchases of American soybeans.

China, however, described the outcome as a "preliminary consensus," noting that both sides must now seek domestic approval before formally ratifying the details.

Meanwhile, the top three stock benchmarks hit fresh all-time highs:

The S&P 500 climbed 1% to 6,860
The Nasdaq 100 outperformed with a 1.7% rise to 25,780.
The Dow Jones Industrial Average advanced 0.5% to 47,440.

Among notable movers, Qualcomm Inc. (NASDAQ:QCOM) surged more than 12% after unveiling two next-generation AI chips — the AI200 and AI250 — designed for data centers and expected to debut in 2026 and 2027.

In earnings news, Keurig Dr. Pepper Inc. (NASDAQ:KDP) jumped 7% on better-than-expected quarterly results, while Revvity Inc. (NYSE:RVTY) fell 2% as revenues slightly missed estimates.

Precious metals extended their pullback, with gold tumbling 2.9% to $3,990 per ounce and silver sliding 4% to $46.60, as investors continued to take profits after strong year-to-date rallies. Newmont Corp. (NYSE:NEM) — the world's largest gold miner — was the S&P 500's worst performer, down 6.4% and extending Friday's losses after its earnings report.

Meanwhile, Bitcoin (CRYPTO: BTC) edged 0.7% higher to $115,000.

Monday’s Performance In Major US Indices, ETFs

Major Indices	Price	Chg (%)
Nasdaq 100	25,790.26	+1.7%
S&P 500	6,862.36	+1.0%
Dow Jones	47,443.97	+0.5%
Russell 2000	2,515.15	+0.1%

Updated by 12:30 p.m. ET

According to Benzinga Pro data:

The Vanguard S&P 500 ETF (NYSE:VOO) rose 1% to $628.64.
The SPDR Dow Jones Industrial Average (NYSE:DIA) rose 0.5% to $474.48.
The tech-heavy Invesco QQQ Trust Series (NASDAQ:QQQ) rallied 1.6% to $626.87.
The iShares Russell 2000 ETF (NYSE:IWM) edged 0.1% higher to $349.75.
The Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY) outperformed, up 1.6%; the Utilities Select Sector SPDR Fund (NYSE:XLU) lagged, down 0.4%.