Archive: Jakub Hałun / Wikimedia Commons / CC BY 4.0
NEW YORK – Stocks rebounded sharply Monday, recouping part of last week’s sell-off in a single session. The Dow Jones Industrial Average jumped 1,104.02 points, or 2.15%, to close at 52,389.75. The S&P 500 rose 2.35% to 7,549.94 and the Nasdaq Composite climbed 2.74% to 25,253.14. The S&P 500 had its best day since April. It, like the Nasdaq, is still below the record highs it set last month. As we reported earlier this afternoon, the Dow was up about 1,220 points at one point; it finished with a gain of 1,104.
For anyone with a 401(k) or an index fund, Monday’s gain recovers part of last week’s slide, but not all of it for the S&P 500 and Nasdaq.
Monday’s close, Nov. 9
Source: exchange closing data. WTI crude is the settlement price.
What drove the rally
Two themes ran through the session. Bargain hunters returned to the chip and artificial-intelligence shares that were crushed last week: AMD jumped 13.3%, Broadcom rose 8.8%, and storage makers Western Digital and Seagate each gained about 10%. At the same time, oil prices fell sharply. President Trump has spoken about Iran in recent interviews, including one Monday afternoon, and the situation is still developing.
Who moved the most
Source: NYSE and Nasdaq closing data.
AMD led the market, jumping 13.3% to $508.58. Tesla gained 5.5% and Meta 5.1%.
The day’s big loser was the market’s most-watched stock. Nvidia fell 4.3% to $178.67 after the chipmaker’s board announced an independent investigation into reports that founder and chief executive Jensen Huang had been the target of a foreign intelligence effort.
Oil
U.S. crude settled at $86.85 a barrel, down 4.4%, and Brent settled at $92.57, down 5.9%. These are the official settlement figures for the day.
JBizNews Desk | Wall Street
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