Wall Street Closes Sharply Higher
US stocks rallied after President Donald Trump said
"it will all be fine", easing investor worries about US-China trade tensions.
The main indexes ended higher, led by gains in Broadcom and other chipmakers. US Treasury Secretary Scott Bessent stated that Trump is on track to meet his Chinese counterpart in South Korea to work on de-escalating trade frictions.
- Broadcom surged almost 10% after partnering with OpenAI to produce artificial intelligence processors.
- The Nasdaq notched its biggest one-day gain since May 27, driven by AI-related tech stocks.
Author's summary: US stocks rebounded after Trump's conciliatory tone on trade tensions.