US markets rebounded on Thursday, led by technology stocks, as investors reacted positively to strong corporate earnings and easing geopolitical concerns following news of an upcoming meeting between US President Donald Trump and Chinese President Xi Jinping.
Meanwhile, Nvidia and Uber unveiled a major partnership in autonomous vehicle development, OpenAI announced a key acquisition aimed at enhancing ChatGPT’s integration with macOS, and Washington prepared a new trade investigation targeting Beijing’s compliance with a 2020 deal.
US markets rebound on tech strength
The S&P 500 rose 0.58% on Thursday, supported by gains in technology shares after a week of volatility.
The Dow Jones Industrial Average climbed 144 points, or 0.31%, while the Nasdaq Composite advanced 0.89%, outperforming major indexes thanks to strength in Nvidia, Broadcom, and Amazon.
Oracle also jumped 2.7%, contributing to the rally among artificial intelligence–linked companies.
Markets hit session highs after White House Press Secretary Karoline Leavitt confirmed that President Donald Trump will meet Chinese President Xi Jinping next Thursday in South Korea.
The announcement eased investor concerns over deteriorating U.S.–China relations that had weighed on equities earlier in the week.
The recovery follows Wednesday’s declines, when the S&P 500 lost 0.5% and the Dow shed 334 points amid fears of tighter export restrictions to China.
Treasury Secretary Scott Bessent had said the administration was considering limits on software exports made with US technology.
Trump–Xi meeting aims to ease trade tensions
The White House confirmed Thursday that Trump and Xi will meet on October 30 during the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju, South Korea.
The encounter marks the first in-person meeting between the two leaders since Trump returned to office in January, and it comes amid rising trade frictions between Washington and Beijing.
Tensions escalated earlier this month after China imposed new export controls on rare earth elements, tightening global supply chains critical to electronics and electric vehicles.
In response, Trump threatened to double tariffs on Chinese imports and announced possible export restrictions on critical software.
Despite his tough rhetoric, Trump has alternated between confrontation and optimism, saying he expects a “fantastic deal” with China.
Analysts, however, remain skeptical, citing deep structural disagreements that go beyond trade and into technology dominance and geopolitical influence.
Nvidia and Uber collaborate on autonomous driving data
Nvidia announced a partnership with Uber Technologies Inc. to advance autonomous vehicle development.
The collaboration will integrate Uber’s vast driving data, including complex traffic and weather conditions, with Nvidia’s Cosmos World Foundation Models to enhance training realism and safety.
According to Nvidia, the partnership enables indexing millions of miles of Uber driving data via Cosmos Dataset Search, helping developers identify long-tail driving scenarios.
The companies co-developed an open framework for merging Nvidia’s Cosmos-AV models with Uber’s data systems.
OpenAI acquires Mac AI interface startup Sky
OpenAI said Thursday it has acquired Software Applications Incorporated, the creator of Sky, an AI interface for macOS.
The acquisition brings Sky’s contextual understanding and system-level integration to ChatGPT, allowing the assistant to interact more naturally with desktop tools.
All Sky employees will join OpenAI.
Nick Turley, OpenAI’s VP and Head of ChatGPT, said the move accelerates the company’s goal of embedding AI into users’ daily workflows.
Sky co-founder Ari Weinstein added that the company’s mission has always been to make computers more intuitive and supportive of creativity.
US to launch new trade probe into China
The Trump administration plans to open a trade investigation into China’s compliance with the 2020 “phase one” trade deal, according to The New York Times.
The probe, to be conducted by the US Trade Representative under Section 301 of the Trade Act of 1974, could be announced as soon as Friday.
The 2020 deal required China to boost US imports by $200 billion and strengthen intellectual property protections.
The new investigation could heighten tensions ahead of the Trump–Xi meeting next week, adding another layer of uncertainty to already fragile trade relations.
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