Easing China trade tensions after comments from President Donald Trump and surging Big Tech stocks sent markets significantly higher today. Trump also declared the war in Gaza is over, with a ceasefire deal signed. The Dow snapped its five-day losing streak and added nearly 600 points, while the Nasdaq rose 490 points as chip stocks surged in response to OpenAI's deal with Broadcom (AVGO). Elsewhere, the Cboe Volatility Index (VIX) marked its worst day since August. 

CRUDE IN RECOVERY MODE AFTER STEEP FRIDAY LOSSES

Crude futures rebounded off Friday's five-month lows, as U.S.-China tensions softened. November-dated West Texas Intermediate (WTI) crude added $1.15, or 2%, to settle at $60.05 per barrel.

Gold notched more record highs today, with prices breaking above $4,100. Silver also rose to all-time highs. December-dated gold futures settled 3.3% higher at $4,133 per ounce.

More By This Author:

Dow Jumps 500 Points As Tech Stocks Rebound
Stocks Secure Weekly Losses With Sharp Friday Selloff
U.S.-China Tensions Send Stocks Reeling Midday