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Key Takeaways
- An agribusiness stock surged on Wednesday, Oct. 10, 2025, as Trump weighed punitive measures against China’s cooking oil trade, while a soft earnings report weighed on an insurance giant.
- Shares of Bunge, the world’s largest oilseed processor, soared after President Trump threatened to ban U.S. purchases of Chinese cooking oil.
- Progressive shares sank after the insurer’s quarterly profits came in below expectations.
Shares of a large grain processor took off as cooking oil became the latest sticking point in the strained trade relationship between the U.S. and China. A number of major financial firms benefitted from strong earnings reports, though soft quarterly results dragged down shares of an insurance giant.
Major U.S. equities indexes were volatile in the midweek trading session as investors also weighed the possibility of another interest rate cut at the Federal Reserve’s October meeting. The S&P 500 finished 0.4% higher and Nasdaq added 0.7%, while the Dow fell fractionally. Find more reporting from Investopedia on the day’s market moves here.
Shares of grain processing company Bunge Global (BG) soared 13% to log the strongest daily performance in the S&P 500 after President Trump threatened to embargo Chinese cooking oil. Bunge is the world’s largest oilseed processor. Shares of Archer-Daniels-Midland Company (ADM) also gained.
Advanced Micro Devices (AMD) surged close to 10%, leading other semiconductor stocks higher a day after the chipmaker announced a deal to sell chips to Oracle (ORCL).
An upbeat outlook from chipmaking equipment leader ASML (ASML) and a multibillion-dollar data center deal also contributed to enthusiasm for stocks tied to the semiconductor industry. ASML, Applied Materials (AMAT), Lam Research (LRCX), and KLA (KLAC) all rose.
Morgan Stanley (MS) and Bank of America (BAC) both saw shares jump close to 5% after they became the latest financial firms to report better-than-expected quarterly results. Morgan Stanley’s results were boosted by strong trading revenue and Bank of America benefited from growth in investment banking fees.
Progressive (PGR) shares sank about 6% after the insurer reported third-quarter earnings that fell short of analysts’ expectations. The results reflected a $950 million charge related to the firm’s Florida auto insurance business generating profits above the state’s limits, requiring Progressive to return that amount to Florida policyholders. Shares of competitor Allstate (ALL) were down 4.4%.
