Broadcom, Warner Bros. Discovery, Bloom Energy, and More

Major U.S.stock indexes rose sharply Monday morning after President Donald Trump softened his tone on China. The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite were each up at least 1.3% in recent trading, recovering from a selloff on Friday.

Broadcom (AVGO) stock popped after the chipmaker and OpenAI announced a partnership for 10 gigawatts of custom AI accelerators. Shares of fellow chipmakers Advanced Micro Devices (AMD), Nvidia (NVDA), and ON Semiconductor (ON) also rose.

Warner Bros. Discovery (WBD) shares surged after the company reportedly rebuffed a takeover approach from Paramount Skydance (PSKY) for being too low. Paramount Skydance shares also rose slightly.

Shares of Bloom Energy (BE) soared on news that asset manager Brookfield (BAM) would spend $5 billion deploying the fuel cell company’s technology in AI factories.

Fastenal (FAST) shares sank after the building products supplier missed third-quarter profit expectations.

General Mills (GIS) shares fell to a 52-week low on a rough day for stocks in the Consumer Staples sector, the only one of 11 tracked by the S&P 500 that is in the red Monday.

Gold futures soared to a record above $4,100 an ounce. Oil futures also rose. Bitcoin rebounded from weekend lows. The U.S. dollar gained ground against the euro, pound and yen. The bond market is closed for Columbus Day.