On October 20th local time, all three major U.S. stock indices closed higher. Most large-cap tech stocks rose, with Apple gaining nearly 4%, leading the tech sector. Chinese concept stocks generally advanced, with the Nasdaq Golden Dragon China Index rising over 2%.

At the close on October 20th local time, the Dow Jones Industrial Average rose 1.12% to 46,706.58 points, the S&P 500 index increased 1.07% to 6,735.13 points, and the Nasdaq Composite climbed 1.37% to 22,990.54 points.

Most large-cap U.S. tech stocks advanced, with the "Magnificent Seven" tech index rising 1.44%. Among individual stocks, Apple gained nearly 4%, Meta rose over 2%, Tesla, Amazon, and Google-C (Alphabet) climbed more than 1%, Microsoft increased 0.63%, while Nvidia fell 0.32%.

It is worth noting that Apple's stock price hit a new high for 2025. Analysts pointed out that signs indicate consumer demand for the new iPhone series is stronger than expected, fueling market anticipation for the start of a replacement cycle. According to an analysis released by Counterpoint Research over the weekend, sales of the iPhone 17 series in the Chinese and U.S. markets within the first 10 days of launch increased by 14% compared to the iPhone 16 series during the same period. Investment bank Loop Capital stated that with demand for the latest iPhone generation exceeding expectations, Apple is poised for a rebound. The firm upgraded Apple's rating from Hold to Buy and raised its target price from $226 to $315 per share.

Chinese concept stocks generally rose, with the Nasdaq Golden Dragon China Index up 2.39% and the Invesco China Technology ETF gaining 2.31%. Among individual stocks, iQiyi surged over 8%, 21Vianet Group climbed nearly 7%, and TAL Education Group rose more than 6%.

On the news front, multiple factors boosted market sentiment in U.S. stocks. On one hand, market expectations that the U.S. government might end its shutdown supported the indices. On the other hand, the U.S. government is attempting to prevent a full-scale deterioration in trade tensions to mitigate potential impacts on its economy. Additionally, a strong start to the U.S. Q3 earnings season further bolstered investor confidence. The market widely expects the Federal Reserve to cut interest rates by another 25 basis points at its late-October meeting.

In commodities, according to data, international precious metal futures closed higher on October 20th local time. COMEX gold futures rose 3.82% to $4,374.30 per ounce, the London spot gold price increased 2.45% to $4,355.69 per ounce, and COMEX silver futures climbed 2.59% to $51.40 per ounce.

The main U.S. crude oil contract fell 0.38% to close at $56.93 per barrel, while the main Brent crude contract declined 0.57% to $60.94 per barrel. Analysts noted that persistent growth in global crude oil production, coupled with slowing economic growth exacerbating supply-demand imbalances, along with reduced geopolitical risk premiums due to the signing of the Gaza agreement and intensified efforts to resolve the Ukraine conflict, collectively pressured oil prices downward.