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 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.