U.S. President Donald Trump speaks as world leaders listen at the Europe-Middle East Summit in the Gaza Strip on October 13, 2025 in Sharm el-Sheikh, Egypt.
Chip Somodevilla | Getty Images
It may not be Christmas today, but the war in the Middle East is over, at least according to US President Donald Trump.
President Trump declared Monday in the Knesset, Israel’s parliament, that the “long, painful nightmare” for both Israelis and Palestinians is finally over. More bluntly, President Trump was asked by reporters if the war in the Middle East was over, and he answered unequivocally, “Yes,” Reuters reported.
A similar hopeful mood permeated the market, albeit for different reasons. After imposing 100% tariffs on China on Friday, sparking a sell-off, President Trump appeared to backtrack on his position, posting on Truth Social that “everything will be fine” with China.
Thus, TACO is back on traders’ menus. Major U.S. stock indexes rallied, led by tech stocks. Quantum computing names keep coming up JP Morgan Chase He announced that he would invest $10 billion in areas important to the national interest.
Meanwhile, Broadcom soared almost 10% after jointly announcing the partnership — who else? — Building and deploying custom chips with OpenAI. But where should I put this? Nvidiaanother near and dear to OpenAI, and questions remain about whose chips the ChatGPT maker relies on.
Christmas hasn’t arrived yet, but OpenAI is starting to look like the Santa Claus of the tech industry.
—CNBC’s Holly Ellyatt contributed to this report.
What you need to know today
President Trump says the wars in the Middle East are over. President Trump addressed Israel’s parliament, saying the “long, painful nightmare” for both Israelis and Palestinians is over. He also called on leaders at a separate event to forget “old feuds”.
Broadcom joins the OpenAI party. The companies announced Monday that they plan to develop and deploy 10 gigawatts of chips designed by OpenAI starting late next year. shares of broadcom In the news it rose almost 10%.
JPMorgan announced it will invest $10 billion in key industries. The four focus areas that the bank considers critical to U.S. national security are defense and aerospace, “frontier” technologies such as AI, energy technology and supply chain, and advanced manufacturing.
Stocks will recover some of their losses. Major US stock indexes rose on Monday, rebounding from Friday’s carnage. of S&P500 It has recouped 56% of Friday’s losses. european Stocks 600 The index, driven by mining stocks, rose 0.44%.
(PRO) European sectors are less affected by trade wars. Although the continent is not targeted by President Trump’s latest tariffs, a weaker U.S. dollar could impact European exports. UBS Remove the noteworthy sector and then select three sectors that are more protected.
And finally…
U.S. President Donald Trump shakes hands with Argentine President Javier Milei during the 80th United Nations General Assembly in New York City, U.S., September 23, 2025.
Alexander Drago | Reuters
The United States has launched an unprecedented rescue package for Argentina. What does that mean?
In a move announced Thursday by Treasury Secretary Scott Bessent on social media site
The move comes amid liquidity concerns that threaten Argentina’s stability as it faces crucial midterm elections. The project involves equal economic and political interests, and is the first U.S. intervention of its kind since Mexico was rescued in 1995.
— Jeff Cox
