US stocks rallied to fresh highs after Treasury Secretary Scott Bessent said a "very successful framework" exists for Presidents Trump and Xi to discuss this week, with the S&P 500 up 1.3%, the Nasdaq up 1.9% and the Dow adding 350 points. The potential package included a delay to China’s rare-earth curbs, the likely avoidance of the planned 100% tariffs and a restart of Chinese soybean buying. Chip names led the session, Nvidia and Broadcom rose 2.1% and 2.4% and Qualcomm surged 9.5% after unveiling new AI processors aimed at data-center workloads, a product pivot that sent the stock to fresh highs as investors repriced its addressable market and near-term revenue potential. Tesla gained 4.2% and Apple added 1.3%, while investors also prepared for a heavy calendar this week with Q3 results from Alphabet, Amazon, Apple, Meta and Microsoft and a widely expected 25 bps Fed cut on Wednesday.