Wall Street Rallies as Oil Crashes 3.75% on Saudi Pipeline Progress; Trump-Xi Summit Set for Sept 24, Trump Weighs Pezeshkian Meeting at UNGA

US equities opened the week sharply higher: the Nasdaq Composite jumped roughly 619.96 points (+2.34%), the S&P 500 gained about 121.91 points (+1.59%) for its best day in weeks, and the Dow rose around 410.22 points (+0.79%), led by an AI/chipmaker rally. Crude oil crashed 3.75% to $92.48/bbl (Nov contract) as Saudi Arabia moved toward restoring roughly half of its damaged East-West pipeline's capacity within days (full repair estimated at six weeks) after the September 11 drone attack, and as hopes emerged that US-Iran talks could resume — Trump signaled openness to meeting Iranian President Masoud Pezeshkian on the sidelines of the UN General Assembly. The 10-year Treasury yield eased back under 5% as traders trimmed October Fed hike bets (CME FedWatch showed roughly a coin-flip on an October move, with about 88.5% odds of a hike by December). The rally also priced in Wednesday's Trump-Xi summit in Washington, which follows Sunday's 'successful' Bessent-He Lifeng pre-summit talks and will cover tariffs, rare earths and AI ahead of the November 10 trade-truce deadline.