Stocks jump after Friday's big selloff

It's Monday October 13, and this is the stock-and-markets report for the day.

Wall Street shrugs off Friday's selloff

Investors were pushing stocks sharply higher Monday after President Trump softened some of his rhetoric about China and tariffs.

At the same time, traders were reacting to the prospects of some sort of peace coming to Gaza in the Middle East and the release of the Israeli hostages that had been held by Hamas.

Over the weekend, Trump tweeted on his Truth Social Platform, "Don’t worry about China, it will all be fine! Highly respected President Xi just had a bad moment."A Wall Street sign near the New York Stock Exchange. Photo: Michael Nagle/Bloomberg via Getty ImagesBloomberg/Getty Images

The Standard & Poor's 500 Index was up 1.2% in early trading. The Dow Jones Industrial Average jumped more than 430 points to 45,928. The Nasdaq Composite Index rose 1.5% to 22,529.

Stock and commodities trading opened as usual. The Treasury market was closed for the Columbus Day holiday.

Here's a heat map on how the market is behaving today.

Source: TradingView

Broadcom soars among big tech stocks

Broadcom jumped whopping 10.2% to $358.80 on the heels of deal with ChatGPT parent OpenAI to on custom chips and networking equipment. OpenAI will design the hardware and work with Broadcom to develop it, according to a joint statement on Monday.

The stock price was still off about$20 from its 52-week high of $374.23.

Nine of 11 Standard & Poor’s 500 sector were higher, led by technology sector, up 2.6% to 5,663. The two losers were Health Care and Consumer Staples shares. On Friday, the Staples sector was alone in showing showing a gain for the day.

Related: Analysts shift bets on which stocks will be the next big winners

The Staples sector was off 0.9%. Healthcare was off 0.04%.

Among staples stocks, Procter & Gamble was off 1.2% and was the weakest performer among the Dow industrials.

Goldman Sachs and JPMorgan Chase were the Dow leaders, up 2.6% and 2.1%, respectively. Both report third-quarter earnings before Tuesday's open.

JPMorgan announced it will invest $10 billion directly into companies vital for U.S. national security, such as defense and AI firms.

Related: Jeff Bezos has hard-nosed take on work-life balance

Gold, silver, oil all rise

Gold was jumping in the midst of the stock-market rally, up $110, or 2.,8%, to $4,112.50 per troy ounce. Silver was having an even better day, jumping 6.4% to $50.255 per ounce after hitting a 52-week high of $50.535.

Crude oil was up 91 cents to $59.81 per barrel. Brent crude, the global benchmark, added 87 cents to $63.60. Copper rose 25 cents a pound to $5.1435 a pound.

Related: Is a market top for stocks at hand?

This story was originally reported by TheStreet on Oct 13, 2025, where it first appeared in the Stock Market News & Data section. Add TheStreet as a Preferred Source by clicking here.

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