Overview

• By early afternoon, the Dow rose about 1.25%, the S&P 500 gained 1.52%, and the Nasdaq advanced 2.03%, recovering from last week’s pullback.
• U.S. Treasury Secretary Scott Bessent said Trump was on track to meet his Chinese counterpart in South Korea, reinforcing efforts to de-escalate trade frictions.
• After China expanded rare-earth export controls and Trump threatened 100% tariffs last week, Beijing blamed Washington but held off on new countermeasures, while a Middle East ceasefire with hostage releases provided a supportive backdrop.
• Broadcom jumped roughly 9.9% after announcing a partnership with OpenAI to help produce the startup’s first in-house AI processors, lifting semiconductor shares.
• JPMorgan shares rose following a $1.5 trillion strategic investment plan as traders looked to major bank results this week with official data still unavailable during the shutdown.