US Stocks Bounce as Waning Trade Fears, AI Deal Fuel Dip Buying
Traders work on the floor at the New York Stock Exchange.
Photographer: Michael Nagle/BloombergUS stocks rebounded on Monday, as ebbing trade tensions between the US and China and a multi-year deal signed by Broadcom Inc. and OpenAI encouraged investors to pile into equities following a sharp selloff.
The S&P 500 Index closed 1.6% higher in New York, notching its best advance since May 27. The tech-heavy Nasdaq 100 Index rallied 2.2%, also having its best day since late May. Bond markets were closed due to Columbus Day.