05:06 PM EDT, 10/13/2025 (MT Newswires) -- US equities rebounded from Friday's selloff amid signs that Washington won't discontinue trade talks with China.

The Nasdaq Composite closed 2.2% higher at 22,694.6, while the S&P 500 rose 1.6% to 6,654.7. The Dow Jones Industrial Average advanced 1.3% to 46,067.6. Barring consumer staples and health care, all sectors were in the green, led by technology's 2.5% jump.

On Friday, US stock markets plummeted, led by tech, as President Donald Trump threatened China with steep tariff increases. After market close, Trump announced additional tariffs of 100% on China, effective Nov. 1, as well as export controls on "any and all critical software."

However, in a social media post on Sunday about China, Trump said it "will all be fine." The US "wants to help China, not hurt it," he added.

"We are communicating now. I am confident that we can move forward," Fox Business reported Monday, citing US Treasury Secretary Scott Bessent. "Everything's on the table. I am optimistic that this can be de-escalated."

In company news, Broadcom ( AVGO ) shares soared 9.9%, the second-best performer on the S&P 500, after the chipmaker and Microsoft ( MSFT )-backed (MSFT) OpenAI agreed to deploy 10 gigawatts of custom artificial intelligence accelerators. The parent of generative AI chatbot ChatGPT recently entered into AI infrastructure deals with Nvidia (NVDA), CoreWeave (CRWV) and Advanced Micro Devices (AMD).

Nvidia, Friday's second-worst performer on the Dow, rose 2.9%.

"These moments we view as buying opportunities to own the winners in semis, software, Big Tech, and the AI future as in our view these tensions will not bubble up into a much more tense time vs. the nervous period of time we saw in April," Wedbush Securities analyst Daniel Ives said in a Sunday note.

Bloom Energy ( BE ) shares surged nearly 27% after announcing a $5 billion partnership with Brookfield Asset Management ( BAM ) to deploy its fuel cell technology in building AI infrastructure. Brookfield shares climbed 3.5%.

Fastenal's ( FAST ) third-quarter earnings came in below market estimates amid sluggish industrial production. The industrial and construction supplies distributor's shares slumped 7.5%, the worst S&P 500 performer.

JPMorgan Chase ( JPM ) announced a $1.5 trillion plan to finance and invest in industries "critical" to national economic security, including minerals and frontier technologies. The lender's shares rose nearly 2.4%.

JPMorgan ( JPM ) and other major banks Goldman Sachs ( GS ) , Wells Fargo ( WFC ) , and Citigroup ( C ) are scheduled to report third-quarter results Tuesday.

West Texas Intermediate crude oil was up 1.3% at $59.66 a barrel in Monday late-afternoon trade. "Oil rebounded after hitting five-month lows in the previous session, with investors refocusing on US-China trade talks," D.A. Davidson said in a Monday note.

The Organization of the Petroleum Exporting Countries raised its global oil demand growth projection for 2025. The cartel said that concerns about a renewed tariffs war between the US and China "once again underscored the lingering uncertainty surrounding trade policy."

The US bond market was closed Monday due to the Columbus Day/Indigenous Peoples' Day holiday.

The Federal Reserve should move monetary policy towards "a more neutral stance" in a bid to balance risks to its dual mandate of price stability and maximum employment, Philadelphia Fed President Anna Paulson said Monday.

"Labor market risks do appear to be increasing -- not outrageously, but noticeably," Paulson said. "Momentum seems to be going in the wrong direction."

A US federal government shutdown continues, with the Congress deadlocked on a funding plan. The Senate is not scheduled to hold any votes on a funding plan until Tuesday, CNN reported Monday.

Gold was up 3.1% at $4,125.80 per troy ounce, while silver jumped 6.9% to $50.49 per ounce.