TECHNOLOGY (XLK)

Scott Bessent said the threat of the 100% tariffs and the immediate initiation of a worldwide export control regime by China has gone off.

Wall Street surged to fresh all-time highs Friday as a softer-than-expected inflation reading strengthened market conviction that the Federal Reserve will cut interest rates by 25 basis points at its Oct. 30 policy meeting.

Risk sentiment deteriorated sharply on Wednesday as a wave of disappointing earnings guidance and escalating U.S.-China trade tensions rattled investor confidence.

China’s Industry and IT Minister Li Lecheng reportedly called on Apple to work closely with local suppliers.

Wall Street rebounds as Trump downplays China tariff threat. The S&P 500 rose 1.5%, while the Nasdaq 100 rallied 2%.

AI trade is just getting started, not topping out, says Dan Ives. Recent pullback in Big Tech is a buying opportunity.