Wall Street Surges as AI Stocks Lead Recovery Amid Trade Tension Easing

Wall Street's indexes experienced a rally on Monday, primarily driven by increases in companies like Broadcom and other chipmakers. This momentum followed President Donald Trump's reconciliatory comments, which alleviated fears surrounding U.S.-China trade tensions.

U.S. Treasury Secretary Scott Bessent noted that Trump might meet his Chinese counterpart in South Korea soon, aiming to resolve recent trade disputes. AI-related technology stocks were the focus, with Broadcom soaring 10% after partnering with OpenAI to develop artificial intelligence processors.

The Nasdaq eyed its most significant single-day gain since late May, showing the driving force of AI investments. However, the backdrop of unresolved U.S.-China issues suggests cautious investor sentiment as eyes turn towards upcoming earnings reports from major financial entities like JPMorgan and Goldman Sachs.