The leaders reunited for first time since 2019 to discuss a deal that would ease tensions after months of sparring over trade and technology.

Donald Trump on Thursday said that US and China have come to a conclusion on many important issues regarding trade, adding that the tariffs on Beijing will drop to 47% from 57%.

Despite a North Korean missile test, Trump focused on his upcoming meeting with Xi, anticipating significant progress and a potential reduction in US tariffs on Chinese goods.

The Federal Reserve lowered interest rates at its second consecutive meeting on Wednesday, extending an effort to prevent a recent slowdown in hiring from turning into something more serious.

Stocks rose, with the Dow industrials briefly climbing above 48000, ahead of a likely to cut to interest rates.