Stocks Rise Before CPI as Spike in Oil Sinks Bonds: Markets Wrap

Blackstone’s Jon Gray on Earnings, M&A, Private Credit

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By Rita Nazareth

October 22, 2025 at 10:21 PM UTC

Updated on

October 23, 2025 at 8:45 PM UTC

A rally in big tech drove stocks higher as trade tensions cooled ahead of a reading on consumer prices, with equity investors shrugging off concerns about any potential impacts of an oil spike on inflation. Bonds fell.

The S&P 500 approached its all-time highs as the White House said President Donald Trump will meet his Chinese counterpart Xi Jinping on Oct. 30. Tesla Inc. erased its post-earnings slide to lead gains in megacaps. Energy shares joined a surge in crude as the US announced sanctions on Russia’s biggest oil companies in a bid to end the war in Ukraine.