US EditionWall Street ends sharply higher on Trump China comments; Broadcom surges
- On Oct 13, Wall Street's main indexes ended sharply higher after President Donald Trump struck a conciliatory tone on U.S.-China trade, while U.S. Treasury Secretary Scott Bessent said Trump was on track to meet his Chinese counterpart.
- Earlier, Trump had announced a 100% tariff and export controls from November 1, but over the weekend softened his tone saying `it will all be fine`; China on Sunday blamed the U.S. but held off further measures.
- Broadcom surged almost 10% after partnering with OpenAI, while the PHLX chip index soared almost 5% as chipmakers led gains and the Nasdaq rose 2.21%.
- Advancing issues outnumbered decliners within the S&P 500 by 2.5-to-one, while volume on U.S. exchanges was relatively light at 18.2 billion shares traded.
- On Tuesday, JPMorgan Chase , Goldman Sachs , Citigroup , and Wells Fargo will release results as analysts expect S&P 500 earnings to grow 5.8%, with the index about 1.5% below October 8.
102 Articles
102 Articles
Wall Street stocks bounce as Trump softens posture on China after tariff threats
Wall Street stocks rebounded on Monday from steep pre-weekend falls as US President Donald Trump softened his posture on China following earlier threats of large tariffs. European stock markets made modest gains while Asia’s leading stock markets began the week in the red as they caught up with Wall Street’s sharp losses on Friday. Gold reached a fresh record high thanks to its status as a safe-haven investment. “Things have calmed down almost a…
Daily Journal
Wall Street stocks bounce after Trump-fueled slide
Wall Street stocks rebounded Monday from steep pre-weekend falls as US President Donald Trump softened his posture on China following earlier threats of large tariffs.
Relaxation signals towards China, a contract for the end of the war in Gaza: After Friday's crash, the U.S. banks see reason for confidence again. However, the gold price remains stubbornly at record prices. In the case of the stocks, the producers of rare earths are correct.
Dow Jones Today: Stocks Indexes Close Sharply Higher as Trump Softens Tone on China; Chip Shares Soar on Broadcom Deal With OpenAI
Stocks ended sharply higher Monday after major indexes tanked to end last week, as President Donald Trump wrote in a Truth Social post that "it will all be fine" with China.
Wall Street ends sharply higher on Trump China comments; Broadcom surges
Wall Street's main indexes ended sharply higher on Monday, led by gains in Broadcom and other chipmakers, after President Donald Trump struck a conciliatory tone about renewed U.S.-China trade tensions, easing investor worries.
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