Dow Jumps 500 Points as Tech Stocks Rebound

The market is rebounding from Friday's selloff, after President Trump took to Truth Social to assuage the China trade concerns that his hardline stance set into motion at the end of last week. AI giants are leading the charge, with Oracle (ORCL) last seen up 5.1%, and Nvidia (NVDA) up 2.7%. Meanwhile, the government shutdown has entered its 13th day, while several bank giants are set to kick off earnings season with reports later this week. 

Continue reading for more on today's market, including:

• Bulls swarm Wall Street newbie. 
• Fastenal stock headed for worst day in over a year. 
• Plus, options traders eye BYND's record lows; BE soars on fuel cell deal; and RACE extends recent drop. 

Beyond Meat Inc (NASDAQ:BYND) stock is plummeting today, down 46% at $1.08 at last look and earlier hitting a record low of $0.84, after the company announced the early settlement of a convertible debt exchange offer. BYND is one of the most popular stocks in the options pits today amid the bear gap, with 135,000 calls and 142,000 puts exchanged so far -- 8 times the average daily options volume already. The October 1 call is the most popular, followed by the December 17, 2027 2-strike put, with new positions opening sold to open at the former. 

Bloom Energy Corp (NYSE:BE) stock is soaring to record highs today, up 24.3% at $107.95 at last glance, after news that Brookfield Asset Management will spend as much as $5 billion on the company's fuel cells for AI data centers. BE received a few price-target hikes after the news, including one from Susquehanna to $105 from $43. Since the start of the year, the equity is up roughly 386%. 

Shares of Ferrari NV (NYSE:RACE) are down 3.6% to trade at $381.44, trading at 52-week lows as they head for their seventh-straight daily loss. RACE suffered its largest daily percentage drop ever on Oct. 9 after announcing its EV plans and revenue outlook. Today, RBC and Citigroup lowered their price targets. Year to date, the stock is down 10%.