U.S. President Donald Trump poses next to a billboard in front of a family photo at the World Summit on Ending the War in Gaza during the U.S.-brokered prisoner and hostage exchange and ceasefire agreement between Israel and Hamas in Sharm el-Sheikh, Egypt, October 13, 2025.
Suzanne Plunkett Reuter
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 says it’s starting to look like the Santa Claus of the tech world, with a sack full of presents and, more importantly, cash. oracle.
—CNBC’s Holly Ellyatt contributed to this report.
What you need to know today
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
