US stock markets end higher on confirmation of Trump-Xi meeting

By Gokhan Ergocun

ISTANBUL (AA) - US stocks ended higher Thursday after President Donald Trump announced that he would meet with Chinese President Xi Jinping next week.

The Dow Jones Industrial Average rose 0.31%, or 144.20 points, to close at 46,734.61.

The Nasdaq climbed 0.89%, or 201.40 points, to close at 22,941.80, while the S&P 500 increased 0.58%, or 39.04 points, to 6,738.44.

The Volatility Index (VIX), also known as the "fear index," fell 6.99% to 17.30.

Stock markets followed a positive trend after it was confirmed that Trump would meet with Xi in South Korea as part of his tour of Asia.

White House spokesperson Karoline Leavitt announced at a press briefing that Trump would attend the Asia-Pacific Economic Cooperation (APEC) summit in South Korea and hold a bilateral meeting with Xi on Oct 30.

Meanwhile, Trump pardoned Changpeng Zhao, the convicted founder of crypto exchange Binance, the White House confirmed Thursday.

It was also reported that a new round of negotiations aimed at resolving escalating trade tensions between the US and China, marked by reciprocal tariff increases, will take place in Malaysia on Oct. 24-27.

News regarding talks between the two countries eased concerns about the recent resurgence of trade tensions.