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Wall 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.
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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.
·United Kingdom
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Wall Street veers back upward after Trump softens his criticism of China
U.S. stocks are rising and recovering more than half of their sell-off from Friday. The S&P 500 climbed 1.5% Monday. The Dow Jones Industrial Average rallied 581 points, and the Nasdaq composite jumped 2.1%. The indexes leaped after President Donald…
·Marinette, United States
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Total News Sources86
Leaning Left14Leaning Right14Center29Last UpdatedBias Distribution51% Center
Bias Distribution
- 51% of the sources are Center
51% Center
L 25%
C 51%
R 24%
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