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Trump softens tone on China, markets rebound, OpenAI signs Broadcom deal

13/10/2025
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21:57
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US stocks rally as President Trump strikes a conciliatory tone toward China after threatening new tariffs last week. Futures and European markets surged after Trump said “all will be fine” between Washington and Beijing, reassuring investors following a $2 trillion market sell-off on Friday. Chip and rare-earth stocks led gains as traders bet on a trade deescalation. Broadcom (AVGO) jumped after announcing a multiyear AI chip partnership with OpenAI, adding 10 gigawatts of computing capacity beginning in 2026. Meanwhile, JPMorgan Chase (JPM) launched a $10B initiative to invest in critical US industries like energy, aerospace, and defense, ahead of Tuesday’s big-bank earnings kickoff that also includes Citigroup (C), Wells Fargo (WFC), and Goldman Sachs (GS). Rare-earth miner MP Materials (MP) and fuel-cell firm Bloom Energy (BE) both rallied on new deals tied to AI infrastructure, while Fastenal (FAST) fell on weak construction activity. Takeaways: Trump eases tone on China; markets rebound after $2T sell-off Broadcom surges on new multiyear AI chip deal with OpenAI JPMorgan launches $10B investment push into US industrial sectors MP Materials and Bloom Energy rise on trade and AI tailwinds Yahoo Finance's flagship show, Morning Brief, is your go-to source for smarter investing and market moves. Thoughts? Questions? Fan mail? Please email us at [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices

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