US stocks climbed sharply on Monday, with the S&P 500 up 1.3%, the Nasdaq surging 1.6%, and the Dow Jones rising more than 450 points, rebounding from Friday's steep losses that marked the S&P's biggest one-day drop since April.
Traders appeared to shake off renewed tensions in the US–China trade dispute after Washington threatened higher tariffs in response to Beijing's rare earth export controls. Over the weekend however, President Trump struck a softer tone, saying the "China situation will all be fine". In addition, a multi-year partnership to develop custom chips between OpenAI and Broadcom also helped to lift investors' mood.
Tech and materials were by far the top performers while consumer staples traded in the red. Broadcom shares soared 6.8%, Nvidia added 2.5% and Tesla gained 2.7%. Also, JPMorgan went up 2.6% after announcing it will take stakes in companies of up to a total of $10 billion to help fund growth in areas it deems critical to US security.
Source : Trading Economics
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