US open: Stocks tick up after Trump-Xi meeting confirmed
By Iain Gilbert
Date: Thursday 23 Oct 2025
(Sharecast News) - Major indices were slightly higher early on Thursday after Donald Trump confirmed his meeting with Chinese President Xi Jinping would take place.
As of 1455 BST, the Dow Jones Industrial Average was up 0.08% at 46,625.81, while the S&P 500 advanced 0.17% to 6,710.92, and the Nasdaq Composite came out of the gate 0.11% firmer at 22,765.13.
The Dow opened 35.40 points higher on Thursday, taking a small bite out of losses recorded in the previous session as investors rotated out of risk assets amid renewed US-China tensions.
Yesterday's declines followed comments from Treasury Secretary Scott Bessent, who said the White House was considering curbs on software exports to China, building on Trump's earlier pledge to restrict "any and all critical software" from 1 November.
Trade relations remained in focus at the open on Thursday after Donald Trump said his upcoming meeting with Xi Jinping was "scheduled", helping ease investor concerns following Wednesday's sell-off.
Rising oil prices were also in focus after the White House imposed additional sanctions on Russia's two biggest crude companies, Rosneft and Lukoil, as a result of the nation's "lack of serious commitment to a peace process to end the war in Ukraine".
"Now is the time to stop the killing and for an immediate ceasefire," said Bessent.
In the corporate space, Tesla traded lower in early action after revenues at Elon Musk's electric vehicle firm rose 12% year-on-year, the first increase in three quarters, but recealed that net income had plunged 37% when compared to the same time a year earlier. Tesla cited lower vehicle prices, presumably as part of an effort to compete with Chinese manufacturers, as well as a 50% jump in operating expenses, partly due to artificial intelligence and "other R&D projects".
As far as Thursday's earnings slate was concerned, Honeywell posted improved Q3 sales and raised its full-year earnings guidance amid restructuring efforts, while Hasbro also lifted its FY earnings outlook on the back of an 8.3% increase in quarterly profits to $1.39bn.
T-Mobile's Q3 profits missed consensus estimates of $2.47 per share on Thursday, coming in at $2.41 each, but revenues of $21.96bn just beat the $21.91bn expected by analysts, while American Airlines reported better-than-expected Q3 results, with losses narrower than analysts anticipated as revenue growth in its premium unit continuing to outperform its main cabin.
Intel and Ford will publish their latest quarterly figures after the close.
On the macro front, existing home sales data from the National Associaton of Realtors will be published at 1500 BST, while the Kansas Federal Reserve's October manufacturing index will follow at 1600 BST.
Looking ahead, key inflation data, scheduled for release on Friday, was expected to offer further insight into the health of the US economy, with markets widely anticipating a 25 basis point rate cut at the Federal Reserve's late October meeting.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Microsoft Corp. (MSFT) $520.88 0.06%
Cisco Systems Inc. (CSCO) $70.68 0.03%
Dow Jones - Fallers
Amgen Inc. (AMGN) $295.47 -0.17%
S&P 500 - Risers
Apache Corp. (APA) $24.37 6.47%
Wynn Resorts Ltd. (WYNN) $123.72 3.63%
American Airlines Group (AAL) $12.51 3.47%
Western Digital Corp. (WDC) $123.88 2.83%
Intuitive Surgical Inc. (ISRG) $535.06 1.52%
Nektar Therapeutics (NKTR) $62.65 1.41%
CME Group Inc. (CME) $271.54 1.39%
PACCAR Inc. (PCAR) $101.12 1.32%
KLA-Tencor Corp. (KLAC) $1,126.72 1.11%
Illumina Inc. (ILMN) $98.14 0.93%
S&P 500 - Fallers
Ipg Photonics Corp. (IPGP) $84.62 -0.94%
VeriSign Inc. (VRSN) $249.62 -0.92%
Microchip Technology Inc. (MCHP) $63.96 -0.84%
Adobe Systems Inc. (ADBE) $351.72 -0.67%
Cognizant Technology Solutions Corp. (CTSH) $67.91 -0.65%
Ross Stores Inc. (ROST) $155.05 -0.64%
Regeneron Pharmaceuticals Inc. (REGN) $581.43 -0.57%
Advanced Micro Devices Inc. (AMD) $229.10 -0.49%
Mondelez International Inc. (MDLZ) $61.67 -0.48%
O'Reilly Automotive Inc. (ORLY) $100.72 -0.48%
Nasdaq 100 - Risers
Wynn Resorts Ltd. (WYNN) $123.72 3.63%
American Airlines Group (AAL) $12.51 3.47%
Western Digital Corp. (WDC) $123.88 2.83%
Baidu Inc. (BIDU) $120.31 2.80%
JD.com, Inc. (JD) $33.12 2.02%
Intuitive Surgical Inc. (ISRG) $535.06 1.52%
PACCAR Inc. (PCAR) $101.12 1.32%
KLA-Tencor Corp. (KLAC) $1,126.72 1.11%
Illumina Inc. (ILMN) $98.14 0.93%
Biogen Inc (BIIB) $149.03 0.89%
Nasdaq 100 - Fallers
Tesla Inc (TSLA) $416.53 -5.11%
T-Mobile Us, Inc. (TMUS) $221.58 -2.56%
Microchip Technology Inc. (MCHP) $63.96 -0.84%
Adobe Systems Inc. (ADBE) $351.72 -0.67%
Cognizant Technology Solutions Corp. (CTSH) $67.91 -0.65%
Ross Stores Inc. (ROST) $155.05 -0.64%
Regeneron Pharmaceuticals Inc. (REGN) $581.43 -0.57%
Mondelez International Inc. (MDLZ) $61.67 -0.48%
O'Reilly Automotive Inc. (ORLY) $100.72 -0.48%
Cadence Design Systems Inc. (CDNS) $329.03 -0.45%
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