- US stock market futures climbed, with the Dow up 1.3% and S&P 500 and Nasdaq 100 futures up 0.9%.
- WTI fell nearly 3% to about $88, Brent slid 3% to $95, and gold gained 1.1%.
- Investors watched Tuesday’s CPI, Friday’s PPI and earnings from three technology firms.
The U.S. stock market rallied on Nov. 9 as oil prices declined and technology shares recovered. The S&P 500 climbed 2.3%, while the Nasdaq Composite gained 2.7%.
The Dow Jones Industrial Average advanced 1,104 points, or 2.2%, closing at 52,389.75. The gains followed last week’s technology sell-off, although Nvidia shares continued declining.
Investors also prepared for Tuesday’s inflation report and earnings from CoreWeave, Cisco and Applied Materials.
U.S. Stock Market Rebounds as Oil Prices Decline
The S&P 500 gained 173.08 points to finish Monday at 7,549.94. The Nasdaq Composite added 673.71 points, closing at 25,253.14.
The Russell 2000 advanced 3.1%, reflecting gains beyond the largest technology companies.
According to the Associated Press, Monday marked Wall Street’s strongest trading session since April. The rebound followed Friday’s mixed performance across major indexes.
Oil prices declined during the session, easing some concerns about energy costs and inflation.
Brent crude dropped approximately 5.8% as investors assessed developments involving U.S.-Iran negotiations.
The decline followed an earlier premarket retreat, when West Texas Intermediate approached $88 per barrel.
Before Monday’s opening bell, Dow futures had gained approximately 627 points. S&P 500 and Nasdaq 100 futures also rose around 0.9%, according to The Kobeissi Letter.
The completed session ultimately produced larger gains than those early futures readings suggested.
However, falling oil prices alone do not establish the cause of every stock-market advance.
Nvidia News and AI Earnings Keep Tech Stocks in Focus
Company news added another pressure point for technology shares. Nvidia’s board was reported to be opening an investigation into CEO Jensen Huang’s relationship with a businesswoman. U.S. intelligence agencies reportedly say she is a Chinese spy. Following that, Nvidia shares fell 5% in U.S. premarket trading.
Investors were also assessing whether the recent technology sell-off had run its course. Schwab strategist Liz Ann Sonders said the Nasdaq and Nasdaq 100 were oversold after heavy de-risking.
Vanda Research reported that retail traders recorded their biggest single-day stock selling since the COVID-19 pandemic on Thursday. Sonders said retail investors had not yet returned as dip buyers.
Sonders told CNBC that selling remained heavy and the market might not be fully washed out. She also pointed to companies’ capital-spending plans and expected profit margins.
Those figures could help investors assess how technology companies are responding to recent volatility. Her remarks focused on investor positioning and corporate forecasts.
This week’s earnings calendar includes CoreWeave, Cisco, and Applied Materials. Investors are following those reports for updates from companies tied to artificial intelligence and technology infrastructure.
CPI, PPI, and AI Results Shape the Week Ahead
In addition to the US stock market futures, Political concerns have added to questions about the outlook for AI infrastructure. Investors have worried that tighter rules on data-center construction, energy use, and development costs could slow expansion.
According to Associated Press, Democratic victories in the midterm elections raised concerns about tighter AI data-center regulations. Investors feared potential construction restrictions could slow infrastructure expansion, although those concerns did not establish the impact of future policies.
For the US stock market, Tuesday’s CPI report is the next scheduled economic release. Friday’s PPI report follows, with CoreWeave, Cisco, and Applied Materials also due to report this week.
The combination puts inflation and technology earnings at the center of investors’ attention. Futures started higher on Monday as oil fell and traders bought technology shares.
This article provides market information, not financial advice. Equity prices can fluctuate sharply. Investors should conduct independent research and consult qualified financial professionals before making investment decisions.
