CNBC Daily Open: All that glitters is another U.S.-China détente

Greggory Disalvo | Istock | Getty ImagesHello, this is Anniek Bao writing to you from Singapore. Welcome to another edition of CNBC's Daily Open.Markets had a good Monday with oil sliding, yields easing and chipmakers surging. It's against that backdrop that things build toward Thursday with Chinese leader Xi Jinping's arrival in Washington for his second meeting with U.S. President Donald Trump this year. What you need to know today AI-linked stocks powered another rally on Wall Street, with equities climbing as oil prices and Treasury yields both slipped.The S&P 500 climbed 1.5%, its best day since early August, while the Nasdaq Composite jumped 2.3% to its first closing record since June, driven by a rush into chipmakers. The Dow added a more modest 0.7%.Crude oil pulled back below $100 briefly, with West Texas Intermediate futures dropping 4.5% to $95.78 a barrel and international Brent touching a session low of $98.98 before settling at $100.34, reducing an inflation worry that had pressured the market for weeks. Treasury yields retreated from a two-decade high as traders pared bets on further Fed tightening after last month's rate hike. Stock futures were little changed i...