Chicago Bulls Dennis Rodman (91) and Michael Jordan (23) in action, rebounding vs Charlotte Hornets

A rebound for the Bulls (David E. Klutho/Getty Images)

Stocks rebound as tariff fears ease

Stocks clawed back some, but not all, of Friday’s losses after Trump signaled softening in his China stance.

10/13/25 4:02PM

Stocks rebounded from their worst day in six months to recapture some of Friday’s losses after President Trump signaled some softening in his stance on China just two days after threatening an additional 100% tariff on Chinese goods.

Traders jumped back into the AI trade, as every Magnificent 7 company rose. Risk was back on as consumer staples was the worst-performing sector ETF, in a reverse from Friday’s session. Healthcare was the only other sector ETF to close lower.

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Stocks that moved higher:

Broadcom spiked after the chip designer announced that it’s collaborating with OpenAI to develop and deploy 10 gigawatts of custom AI accelerators for use across data centers.
Rare earth stocks continued to soar on expectations of US government involvement after JPMorgan announced a $10 billion plan to focus on financing and taking direct stakes in companies, sending American Battery Technology Co., United States Antimony Corp., USA Rare Earth, and Critical Metals higher.
Micron jumped after a rare double upgrade to “outperform” from “underperform” by BNP Paribas Exane, more than doubling its price target on the stock to $270 — the highest among analysts surveyed by Bloomberg — from $100, which had previously been the lowest price target on the Street.
IonQ stock ripped higher after the quantum computing company announced “a significant advancement in quantum chemistry simulations.”
BitMine Immersion Technologies rose after buying the ethereum dip, bringing its total to over 3 million tokens and 2.5% of the coin’s total supply.
Tesla’s stock charged up as the company started selling the Model Y Standard in some European countries.
StubHub soared as Wall Street initiated largely positive coverage on the ticketing platform.
Rocket Lab ticked higher after Morgan Stanley analysts lifted their price target on the stock to $68 from $20, making them the high bidder among analysts covering the popular, but still money-losing, commercial space launch company.

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Google invests $75 million in film studio A24, forms AI partnership

Google is investing roughly $75 million in independent film studio A24 as part of an AI partnership, according the Wall Street Journal. The investment marks Google’s first direct stake in a film studio.

Under the agreement, A24 will work with Google DeepMind to develop and test AI tools for filmmaking and production workflows, the Journal reports.

The deal comes as A24 continues to expand its business beyond indie films into television, music, and live events. Since its 2013 launch, the studio has produced Oscar-winning films such as Everything Everywhere All at Once. Its revenue has more than doubled over the past two years, according to the Journal, and the company was last valued at $3.5 billion in a Thrive Capital-led funding round in 2024.

Google’s investment comes as major technology companies increasingly deepen ties with media companies as generative AI tools become more integrated into creative industries. For Google, the partnership also expands DeepMind’s reach into entertainment and film production.

The firm and TV industry is pushing to develop AI tools that can be integrated into the time-consuming and expensive production process. In a sign of the potential value of such tools, in March, Netflix announced it would acquire Ben Affleck's startup InterPositive, which is building AI film-making tools, for $600 million.

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Getty Images surges following OpenAI partnership

Getty Images is surging in early trading after the company announced a multi-year licensing and product partnership with OpenAI.

Under the agreement, OpenAI will license Getty’s library of images, videos, and metadata for use in training and improving its AI models, while Getty will integrate OpenAI’s generative AI tools into its own products and services.

The deal comes as Getty faces growing pressure from generative AI tools that can create stock image-like images in seconds, threatening parts of its traditional licensing business. Getty posted revenue of $226.6 million in Q1, down 2.5% year over year on a currency-neutral basis.

Getty was one of the earliest major content companies to challenge AI firms in court, suing Stability AI in 2023 for allegedly scraping millions of copyrighted images without permission to train image-generation models.

The OpenAI deal follows Getty’s 2025 licensing agreement with Perplexity, which gave the AI search company access to Getty’s library and required image credits with links to original sources.

Before the announcement, Getty shares had been trading below $1 for months. The stock surged by 124% in early trading, erasing its year-to-date losses as investors are waiting to see if Getty can turn its licensed content library into a more valuable AI asset.