1. Moving the market

Stocks jumped out of the gate early on, fueled by upbeat bank earnings and optimistic forecasts from tech heavyweights that briefly pushed trade-war worries to the back burner.

Big Tech helped keep the early rally alive—Nvidia gained 1.2%, while Broadcom rose another 2% after Taiwan Semiconductor lifted its 2025 revenue outlook to mid-30% growth and reaffirmed plans for $42 billion in capital spending before year-end.

Momentum from earlier in the week carried over, thanks to strong reports from Goldman Sachs, Wells Fargo, and other big banks, which bolstered confidence in corporate fundamentals.

But as we’ve seen repeatedly this month, the early optimism didn’t last. Weak macro data, hawkish Fed comments, and fresh concerns over loan troubles at regional banks sapped enthusiasm by midday, with the major indexes turning south and surrendering Wednesday’s gains.

The latest hit to sentiment came from two regional lenders—Zions and Western Alliance—which revealed potential loan irregularities involving alleged fraud. That renewed fears about credit quality and financial stability, sparking a flight to safety.

Bonds rallied, driving the 10-year Treasury yield below 4% for the first time in a year. The dollar slipped, gold soared 3.2% to another record, and silver climbed 1.7% to crack the $54 level. Bitcoin, meanwhile, slid to $107,000 before finding some support.

With the market now juggling upbeat earnings, banking worries, and shifting Fed signals, is this just a healthy reset—or the start of deeper caution setting in before year-end?

1. Moving the market

The bulls wasted no time taking charge this morning, pushing stocks higher as a string of upbeat earnings easily outweighed any anxiety from escalating trade tensions with China.

Big banks fueled the rally—Bank of America jumped 4% after smashing earnings forecasts thanks to a surge in investment banking revenue, and Morgan Stanley soared 6% on its own blowout results. Those strong showings followed Tuesday’s solid reports from Goldman Sachs and Wells Fargo, keeping the positive momentum rolling.

That said, it looks to me like stocks could drift sideways from here, especially if the trade war rumbles on and the ongoing government shutdown continues to weigh on sentiment.

Yesterday’s session was a wild ride—the S&P 500 nearly staged a comeback but faded late after President Trump threatened a cooking oil embargo against China, hitting back for Beijing’s decision to stop buying U.S. soybeans.

Today, midday jitters briefly took markets into the red, but by the close today, bullish spirits returned, leaving only the Dow unable to keep pace.

Once again, the broad market outperformed the big-name “Mag 7” stocks, while bond yields crept higher, and the 10-year Treasury bounced off the 4% mark.

Gold kept smashing records, up 1.7% for the day, with silver also climbing 3.3% and just barely missing a fresh high. Bitcoin slipped to $111,000, and the dollar pulled back to one-week lows.

Is this just a quick burst of volatility as earnings compete with trade headlines—or are we in for more headline-driven swings as the drama unfolds?

1. Moving the market

The Dow pulled off an impressive comeback early on, shaking off a plunge of over 600 points as traders tried to see past the latest twists in U.S.-China trade tensions.

While tech stocks like Nvidia remained stuck in reverse, a strong kickoff to earnings season offered a reassuring sign that corporate fundamentals are still holding up.

Standout results from Citigroup and Wells Fargo propelled their stocks up 3.4% and 7%, while JPMorgan and Goldman also beat forecasts but still finished down on the day.

Markets opened lower after fresh moves from China to tighten its control on global shipping—and after Beijing slapped sanctions on five U.S. subsidiaries of Korea’s Hanwha Ocean, essentially freezing business ties.

That added fuel to an already volatile backdrop, especially after Trump last week threatened to double tariffs on China, moves that sent the Dow tumbling more than 800 points on Friday and the S&P 500 to its worst session since early April.

Trump tried to dial back the rhetoric over the weekend, posting “Don’t worry about China, it will all be fine,” triggering Monday’s rally.

Today, however, that upbeat mood faded amid a new round of China headlines and Fed Chair Powell’s dovish remarks, which gave the market a brief lift before stocks closed mixed—only the Dow ending in the green.

Gold shot to another record before fading late, and silver had a volatile run, jumping above $53 then slipping.

Tech was the weakest link as “Mag 7” names lagged the S&P 500. Bond yields bounced around but ended a tad lower, with the 10-year briefly dipping to 4%. The dollar softened while bitcoin whipsawed but closed at $113,000, down for the day.

Uncertainty still rules the day: Will tech finally catch a break, or are markets in for more whiplash as the back-and-forth in trade talks drags on?

1. Moving the market

Stocks came roaring back Monday after President Trump toned down his tariff threats and struck a much calmer tone on China, saying trade relations “will all be fine”.

His comments helped reverse much of Friday’s steep selloff when fears of a renewed trade war wiped out roughly $2 trillion in market value.

Tech stocks were the day’s standouts—AMD, Nvidia, and Oracle each gained more than 3%, while Broadcom jumped over 7% after officially announcing a new partnership with OpenAI.

The reassuring tone from Trump’s Sunday post suggested he may not follow through with the 100% tariff threat that had markets rattled, easing investor jitters ahead of his potential meeting with President Xi later this month in South Korea.

Nearly 80% of S&P 500 stocks traded higher, sparking a broad rebound across sectors. Small caps roared back too, with the Russell 2000 surging over 3% after last week’s bruising decline, helped along by what traders called a massive short squeeze.

Precious metals once again stole the show—silver soared more than 4% to break $52, and gold surged past $4,100 for the first time ever.

Bitcoin also bounced, rising back toward $115,000, while the dollar edged up slightly.

With Washington’s tone shifting from confrontation to calm, will this newfound optimism last—or is it just another temporary ceasefire in the trade drama?