13.10.202513:41:13UTC+00US Stocks Soar

U.S. stocks saw significant gains on Monday as the S&P 500 rose by 1.3%, the Nasdaq jumped 1.6%, and the Dow Jones increased by over 450 points. This recovery followed Friday's steep losses, which represented the S&P's largest one-day decline since April. Investors appeared to move past renewed tensions in the U.S.-China trade conflict, triggered by Washington's threat of escalated tariffs in response to China's rare earth export restrictions. Over the weekend, President Trump offered reassurance, stating that "the China situation will all be fine." Furthermore, investor sentiment was buoyed by news of a long-term partnership between OpenAI and Broadcom, aimed at developing custom chips. The technology and materials sectors led the gains, while consumer staples lagged. Broadcom's shares surged by 6.8%, Nvidia's stock went up by 2.5%, and Tesla advanced by 2.7%. Additionally, JPMorgan saw a 2.6% increase after announcing its plan to invest up to $10 billion in companies considered vital to U.S. security.