US equity indexes rose, led by technology and communication services, and gold resumed its strong upward trend after midday Monday.
The Nasdaq Composite climbed 1.4% to 22,991.7, the S&P 500 gained 1% to 6,731.3, and the Dow Jones Industrial Average advanced 0.9% to 46,620.1. The consumer staples sector was the sole decliner.
Apple's (AAPL) iPhone 17 series outsold the iPhone 16 series by 14% during the first 10 days of availability in the US and China, Counterpoint Research said. Shares of Apple rose 4.3%, the top gainer on the Dow.
All stocks in the so-called Magnificent-7 category rose, with Apple leading the pack, which has a significant weighting across the three benchmark indexes.
Meanwhile, the partial US federal government shutdown entered its 20th day on Monday, making it the third-longest shutdown in the country's history, according to media reports. The shutdown "is likely to end sometime this week" as "moderate" Democrats come together to strike a deal, Kevin Hassett, National Economic Council director, told CNBC.
The CBOE Volatility Index, also known as the fear gauge, slumped 9.5% to 18.80.
Most US Treasury yields slipped, with the 10-year yield down 1.4 basis points to 4%. The two-year rate was little changed at 3.47%.
President Donald Trump reportedly said he is open to lowering China tariffs if Beijing "gives us some things too," mixing a tough economic stance with signals of negotiation flexibility. He recently said 100% additional tariffs were unsustainable but seeks to end China's restrictions on rare earth mineral exports in upcoming trade talks.
Gold futures soared 3.6% to $4,363.50, and silver futures advanced 2.4% to $51.30.
Further in company news, Robinhood (HOOD) expanded its tokenization initiative on the Arbitrum blockchain by adding 80 new stock tokens in recent days, bringing the total number of tokenized assets close to 500, according to Dune Analytics data. Shares jumped 6% intraday, among the top performers on the S&P 500.
West Texas Intermediate crude oil futures fell 0.8% to $56.96 a barrel, dropping to the lowest in more than four years.
"Sentiment has weakened on growing signs of an emerging supply glut, with crude held on tankers at sea climbing to its highest level since the pandemic," Saxo Bank said in a research note. "Ongoing trade tensions and slower Chinese growth have added further pressure, while speculative net long positions in Brent have been cut to a five-month low."