Wall Street today: US stocks rally after Trump softens tone against China, Broadcom soars 10% on OpenAI deal

US stock indices rallied on Monday after President Donald Trump’s softer tone eased worries over renewed US-China trade tensions.

At 12:06 PM ET, the Dow Jones Industrial Average rose 569.80 points, or 1.25%, to 46,050.01, the S&P 500 gained 99.56 points, or 1.52%, to 6,652.07 and the Nasdaq Composite gained 448.05 points, or 2.03%, to 22,655.47.

As of 10:45 AM Eastern Time, the S&P 500 jumped 1.3%, the Dow Jones Industrial Average was up 1.1%, and the Nasdaq Composite was 1.8% higher.

At the open, the Dow Jones Industrial Average rose 218.9 points, or 0.48%, to 45,698.46. The S&P 500 rose 70.0 points, or 1.07%, to 6,622.53, while the Nasdaq Composite rose 374.2 points, or 1.69%, to 2,2578.674.

On Friday, the US stocks plummeted after President Trump announced he was considering a "massive increase of tariffs" on Chinese imports. This re-escalation of trade tensions wiped out billions in market value.

Trump posted on social media on Sunday saying: "Don't worry about China, it will all be fine!" And "The U.S.A. wants to help China, not hurt it!!!"

In a reaction to Trump’s threats, China on Sunday blamed the US for the trade war escalation.

Gainers and Losers

Broadcom stock jumped 10.2% after the chip company announced a collaboration with OpenAI.

Banking heavyweight JPMorgan saw its stock price advance by 2.5% after the firm formally announced a massive $1.5 trillion strategic investment plan, reassuring investors about its growth trajectory.

Cosmetics giant Estee Lauder was among the day's best performers, jumping 7.5% following a positive rating upgrade from Goldman Sachs.

Elsewhere in the technology sector, Oracle shares climbed by 5.4% after at least two brokerage houses increased their price targets for the artificial intelligence (AI) cloud company. Finally, electric vehicle manufacturer Tesla’s stock rpse 2.6%.

Fastenal shares tumbled 6.4% after the maker of fasteners and safety supplies reported a quarterly profit.

Bullion Market

Gold prices hit another record high on Monday amid renewed US tariff threats against China.

Silver also jumped to an all-time peak, tracking gold's rally.

As of 1215 GMT, spot gold edged up 1.4% to $4,075.29 per ounce, after hitting a record of $4,084.75/oz earlier in the session. US gold futures for December delivery surged 2.4% to $4,094.90.

In other metals, spot silver jumped 2.4% to $51.48/oz, after hitting a record high of $51.70/oz. Platinum gained 3.9% to $1,649.49 and palladium added 2.7% to $1,443.08.

Crude Oil

Oil prices saw a healthy rebound on Monday, recovering from five-month lows recorded during the previous trading session, as investors shifted their focus to the potential for high-level talks between the leaders of the United States and China. Such discussions are anticipated to alleviate global trade tensions, which have weighed heavily on crude demand forecasts.

By 1313 GMT, Brent crude futures jumped 65 cents, an increase of 1%, at $63.38 a barrel. Simultaneously, US West Texas Intermediate (WTI) crude saw its price rise by 64 cents, or 1.1%, reaching $59.54 a barrel.