Markets Rebound as Trade Tensions Ease, Tech Stocks Surge
Wall Street's major indexes bounced back from recent declines as investors regained confidence following a softened U.S.-China trade stance. A boost from technology stocks, including Broadcom's partnership with OpenAI, further fueled the gains. JPMorgan's substantial investment plan and other corporate news added to market dynamics.
Wall Street's main indexes surged on Monday, recovering from the previous session's pullback, as investors flocked back to risk assets. This market optimism followed President Donald Trump's softened rhetoric, which eased U.S.-China trade tensions. U.S. Treasury Secretary Scott Bessent confirmed Trump's plans to meet his Chinese counterpart to discuss de-escalating trade tensions.
The technology sector led the charge, with Broadcom shares leaping 9.9% after announcing its collaboration with OpenAI to develop in-house AI processors. This lifted the overall semiconductor index by 4.8%, benefiting the tech-heavy Nasdaq.
In corporate news, JPMorgan rose after revealing a $1.5 trillion investment plan. Meanwhile, market watchers focus on the earnings season kickoff, as major banks are set to report quarterly results, potentially providing fresh insights on the U.S. economy amid ongoing government data release delays.
(With inputs from agencies.)
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