Mumbai, Sept. 22 -- The Nasdaq advanced 160.75 points or 0.7% to 22,631.48, the S&P 500 climbed 32.40 points or 0.5% to 6,664.36 and the Dow rose 172.85 points or 0.4% to 46,315.27.

Wall Street's upward momentum has continued, pushing major averages to record highs despite September's usual reputation as a weak month for stocks. Optimism over lower interest rates fueled the rally, with the Federal Reserve cutting rates by a quarter point and signaling two more cuts this year.

Additional gains followed President Trump's announcement of a "very productive" call with China's Xi Jinping, covering trade, fentanyl, the Ukraine conflict, and a TikTok deal. Still, overall trading activity remained somewhat subdued due to the absence of major U....