US Edition
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.
141 Articles
141 Articles
Wall St rallies after Trump softens China rhetoric
US stocks bounced back Monday on signs that Washington’s trade tensions with China were easing, coupled with deescalation in the Middle East. Following Wall Street’s worst selloff since April on Friday, top US officials signaled openness to a trade deal with Beijing to resolve a fresh spat over rare earth exports. Optimism over a permanent peace in Gaza following a landmark ceasefire deal also buoyed global markets as traders reassessed the geop…
Wall Street ends sharply higher on Trump China comments | Honolulu Star-Advertiser
Wall Street’s main indexes ended sharply higher today, 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.
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.
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