What’s News in Markets: AI Deals, Trump on Pharma, Banks Split

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  Hey listeners, it's Saturday, October 18th.

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  I'm Francesca Fontana for The Wall Street Journal, and this is What's News in Markets,

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  our look at the biggest stock moves of the week and the news that drove them.

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  Let's get to it.

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  It was an up and down week for the markets.

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  On Monday,

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  stocks were regaining ground thanks to comments from the Trump administration that eased investors' fears of a revived trade war with China.

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  And this optimism in the market was further stoked by strong quarterly reports from banks that kicked off earnings season.

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  The big picture takeaway there?

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  America's biggest banker said that the economy is solid,

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  the U.S. consumer is healthy, and they haven't seen much change in recent months.

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  And that sent investors cheering on Wednesday.

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  Then Thursday came along, and the mood soured a bit on worries about the health of regional banks.

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  So how did all shake out?

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  Well, on a weekly basis, the Dow ended 1.6% higher, the S&P gained 1.7%, and the Nasdaq rose 2.1%.

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  First up, let's go through some of the big AI news from this week.

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  Let's talk about the ChipMaker Broadcom,

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  which got a boost from its new multi-billion-dollar deal with OpenAI, the startup behind chatGPT.

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  The two are working together to develop and deploy custom AI chips and computing systems as part of this massive deal.

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  And we've talked on this podcast recently about OpenAI's big announcements with NVIDIA,

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