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Shares of oilseed processor Bunge surged to lead gains on the S&P 500 Wednesday after President Trump threatened to embargo Chinese cooking oil.
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Bunge, a key player in agribusiness, experienced a significant increase in stock price on Wednesday, October 10, 2025, as President Trump considered taking punitive actions against China’s cooking oil imports, while soft earnings from an insurance giant negatively impacted their market share.
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The stock of Bunge, recognized as the top oilseed processor globally, saw a sharp rise following Trump’s threat to restrict U.S. purchases of cooking oil from China.
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In contrast, shares of Progressive dropped after the company reported third-quarter profits below market expectations.
As tensions regarding cooking oil trade intensified between the U.S. and China, Bunge’s stock skyrocketed. Meanwhile, several notable financial firms reported strong earnings, but the performance of an insurance giant was hampered by disappointing results.
During the midweek trading session, major U.S. equity indexes displayed volatility as investors considered the likelihood of another interest rate cut during the Federal Reserve’s upcoming October meeting. The S&P 500 rose by 0.4%, the Nasdaq increased by 0.7%, while the Dow posted negligible losses. For further insights into the day’s market activities, find additional reporting from Investopedia here.
Bunge Global’s shares (BG) soared by 13%, marking the most impressive daily performance in the S&P 500 index after Trump threatened an embargo on Chinese cooking oil. Bunge holds the title of the largest oilseed processor worldwide. Shares of Archer-Daniels-Midland Company (ADM) also saw gains.
Advanced Micro Devices (AMD) saw a nearly 10% rise, leading a wave of growth among semiconductor stocks. This surge came in the wake of AMD’s announcement regarding a partnership to supply chips to Oracle (ORCL).
In addition, a positive forecast from chip equipment leader ASML (ASML) and a significant data center agreement bolstered enthusiasm for semiconductor-related stocks. Companies like ASML, Applied Materials (AMAT), Lam Research (LRCX), and KLA (KLAC) all experienced upward movement.
Both Morgan Stanley (MS) and Bank of America (BAC) reported stock increases of nearly 5% after delivering better-than-expected quarterly results. Morgan Stanley’s strong trading revenue played a key role in their performance, while Bank of America benefited from rising investment banking fees.
Progressive (PGR) saw its shares decline roughly 6% after reporting a third-quarter earnings miss compared to analysts’ forecasts. The disappointing results included a $950 million charge tied to the company’s Florida auto insurance business, which indicated excess profits that need to be refunded to customers in Florida. Shares of rival Allstate (ALL) decreased by 4.4%.
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