Wall Street staged a miraculous turnaround as Donald Trump reassured markets by talking down trade concerns with China. Broadcom soared, adding $150 billion in value on news of its OpenAI agreement, while quantum stocks rallied after JPMorgan’s latest tech investment push. Bank stocks also climbed ahead of an earnings bonanza, and Tesla gained on stronger China EV sales. In commodities, oil prices rose as the US and China moved to de-escalate trade tensions, while gold broke through $4,100 to a record high. Back home, the ASX is expected to rebound on Tuesday after recording its biggest single-day drop since September 2024.

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