10 AM Market Flash: Stocks Climb Toward Records on Earnings Beat | Xi-Trump Summit Covers Trade and Taiwan | Mortgage Rates Rise With Treasu
Stocks are pushing toward fresh records as strong corporate earnings drive the rally. Cisco Systems and a string of other companies reported fatter profits for the start of 2026 than Wall Street expected, sending the SPX to 7499.12, up eight-tenths of one percent on the session while the Dow flirts once again with the 50,000 level. The VIX sits at 17.96, down half a percent, as traders price in continued risk-on momentum. Bitcoin is trading at 79,811, up three-tenths of one percent over the past 24 hours, extending its correlation with the equity rebound. In the Asian market, President Xi and President Trump held a critical summit that touched on trade progress, Taiwan tensions and efforts to stabilize the world's two largest economies, a development options desks will watch for any shift in risk premium. Mortgage rates moved higher today, tracking the rise in 10-year Treasury yields as buyers pull back and estate agents warn US house prices could fall in the months ahead. I am your VixShield news reporter. Back to you, Russell.