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WASHINGTON (Reuters) -U.S. President Donald Trump on Friday signed orders approving significant tariff relief for U.S. auto and engine production and setting new 25% tariffs on imported medium- and heavy-duty trucks and parts starting November 1. Trump is also setting a 10% tariff on imported buses. Trump's order makes automakers eligible for a credit equal to 3.75% of the suggested retail price for U.S. assembled vehicles through 2030 to offset imports tariffs on parts. He is also extending the import adjustment offset credit for U.S. engine production and for U.S. medium- and heavy-duty truck production. (Reporting by David Shepardson)

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By Noel Randewich and Twesha Dikshit (Reuters) -Wall Street ended higher on Friday as investors assessed U.S. President Donald Trump's latest remarks on China, while quarterly results from regional banks eased concerns about credit risks.  Trump said his proposed 100% tariff on goods from China would not be sustainable, but blamed Beijing for the latest impasse in trade talks that began with Chinese authorities tightening control over rare earth exports. Trump unveiled the new tariffs a week ago, along with new export controls on "any and all critical software," to go into effect on November 1. "The market doesn't really know what to take when Donald Trump speaks," said Robert Pavlik, senior portfolio manager at Dakota Wealth. "There's just a lot of back-and-forth comments with regards to China and trade tariffs and pretty much everything else." Regional bank stocks rebounded following a selloff on Thursday, when Zions Bancorporation disclosed losses tied to two commercial and industrial loans and Western Alliance revealed it had initiated a lawsuit alleging fraud by Cantor Group V, LLC. "There's a lot more bark than bite on the credit fears," said Jed Ellerbroek, a portfolio manager at Argent Capital. "Looking through all the big banks' results, credit is very good. Overall, there are very few pockets of weakness."  Truist Financial gained 3.7% after the bank reported higher third-quarter profit. Fifth Third Bancorp rose 1.3%, Zions shares rebounded from losses the day before to close 5.8% higher, and Western Alliance advanced 3.1%. The S&P Composite 1500 Regional Banks index climbed 1.8% after tumbling almost 6% the day before. The S&P 500 financial sector index, which includes the largest U.S. banks, rose 0.8%. Robust earnings from JPMorgan and other big banks this week helped get the third-quarter earnings season off to an upbeat start. Analysts on average see S&P 500 earnings climbing 9.3% in the third quarter, an improvement from expectations of 8.8% at the start of October, according to LSEG I/B/E/S. Following a rally of nearly 14% in 2025, the S&P 500 is valued at 23 times expected earnings, its priciest level in five years. The S&P 500 climbed 0.53% to end the session at 6,664.01 points. The Nasdaq gained 0.52% to 22,679.98 points, while the Dow Jones Industrial Average rose 0.52% to 46,190.61 points. Nine of the 11 S&P 500 sector indexes rose, led by consumer staples, up 1.23%. For the week, the S&P 500 gained 1.7%, the Nasdaq rose 2.1% and the Dow climbed 1.6%. The CBOE volatility index, investors' fear gauge, dropped to 21.5 points after hitting its highest level in nearly six months at 28.99 earlier in the day. Wall Street's most valuable companies were mixed, with Tesla rising 2.5%, Apple adding almost 2% and Amazon falling 0.7%. Eli Lilly fell 2% after Trump said he would bring down prices of weight-loss drugs. State Street dropped 1.4% after the bank's third-quarter net interest income missed estimates. Advancing issues outnumbered falling ones within the S&P 500 by a 2.6-to-one ratio. The S&P 500 posted 7 new highs and 6 new lows; the Nasdaq recorded 37 new highs and 114 new lows. Volume on U.S. exchanges was relatively light, with 19.6 billion shares traded, compared with an average of 20.7 billion shares over the previous 20 sessions. (Reporting by Noel Randewich in San Francisco and Sukriti Gupta, Medha Singh and Twesha Dikshit in Bengaluru; Editing by Shilpi Majumdar and Matthew Lewis)

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(Reuters) -Nvidia uveiled on Friday the first U.S.-made Blackwell wafer, produced at TSMC's semiconductor manufacturing facility in Phoenix, as demand for AI chips accelerates. Companies have been racing to meet the broader AI industry's voracious appetite for computing power as they develop AI technology that meets or exceeds human intelligence. The move "bolsters the U.S. supply chain and onshores the AI technology stack that will turn data into intelligence and secure America's leadership for the AI era," Nvidia said in a blog post. It also aligns with President Donald Trump's efforts to strengthen U.S. technology and manufacturing leadership. TSMC's Arizona facility will produce advanced technologies including two-, three- and four-nanometer chips, as well as A16 chips, that are essential for applications like AI, telecommunications and high-performance computing, Nvidia said. There has recently been a flurry of mega deals between AI firms and chipmakers such as Nvidia, AMD and Broadcom to build data center capacity. TSMC, the world's biggest producer of advanced chips, raised its full-year revenue forecast on Thursday on a bullish outlook for AI spending after posting a record profit that blew past market estimates. (Reporting by Juby Babu in Mexico City; Editing by Alan Barona)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

(Reuters) -Nvidia uveiled on Friday the first U.S.-made Blackwell wafer, produced at TSMC's semiconductor manufacturing facility in Phoenix, as demand for AI chips accelerates. Companies have been racing to meet the broader AI industry's voracious appetite for computing power as they develop AI technology that meets or exceeds human intelligence. The move "bolsters the U.S. supply chain and onshores the AI technology stack that will turn data into intelligence and secure America's leadership for the AI era," Nvidia said in a blog post. It also aligns with President Donald Trump's efforts to strengthen U.S. technology and manufacturing leadership. TSMC's Arizona facility will produce advanced technologies including two-, three- and four-nanometer chips, as well as A16 chips, that are essential for applications like AI, telecommunications and high-performance computing, Nvidia said. There has recently been a flurry of mega deals between AI firms and chipmakers such as Nvidia, AMD and Broadcom to build data center capacity. TSMC, the world's biggest producer of advanced chips, raised its full-year revenue forecast on Thursday on a bullish outlook for AI spending after posting a record profit that blew past market estimates. (Reporting by Juby Babu in Mexico City; Editing by Alan Barona)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)