LIVE | Strong recovery on Wall Street after Trump’s reassuring words; ASML wins sharply in higher AEX

The Dow Jones ended 1.3 percent higher at 46,068 points, the S&P 500 won 1.6 percent to 6,655 points and the Nasdaq jumped 2.2 percent to 22,695 points.

Investors responded with relief to the president’s reassuring tone Donald Trumpwho said trade tensions with China will be “completely sorted out.” Tech stocks in particular suffered after the sharp falls at the end of last week.

Tech stocks in particular were at the forefront. Nvidiamarket leader in AI chips, gained almost 3 percent and also Oracleknown for its cloud and software services, closed the day with a gain of more than 5 percent. Tesla rose 5.4 percent.

Broadcom jumped 10 percent after the chipmaker teamed up with OpenAI announced plans to build and launch custom AI accelerators. It is the first time that the two companies have officially confirmed their collaboration, which has now lasted a year and a half.

Also Warner Bros. Discovery ended considerably higher, with a gain of more than 4 percent. According to Bloomberg News the owner of HBO and CNN has made a takeover bid Paramount Skydance (plus 0.6 percent) rejected. The bidder would now consider a higher or even hostile offer, or look for a partner.

Estee Lauder closed 6 percent higher after a buy recommendation of Goldman Sachswhich expects the beauty group’s share to rise another 30 percent.

Yelpthe platform where consumers can review and recommend local businesses, jumped nearly 12 percent after Evercore the share increased from in-line Unpleasant outperform and significantly increased the price target.

In the raw materials sector, rare earth producers made strong profits. USA Rare Earth rose 30 percent after president Donald Trump China had warned of retaliatory measures over its strict export restrictions.

JPMorgan Chase ended 2.4 percent higher. The bank announced a 10-year, $1.5 trillion plan to finance companies and buy stocks strategically important to national security. Top man Jamie Dimon stressed that it has “become painfully clear that the United States is overly dependent on unreliable sources of rare earths.”