Dow surges 1,100 points, Nasdaq climbs more than 2% as tech rebounds from last week's tumult: Live updates
The Dow rose 1,104.02 points, or 2.15%, to 52,389.75, closing above its Election Day level, while the S&P 500 gained 2.35% to 7,549.94, its best day since April 8, and the Nasdaq Composite 2.74% to 25,253.14; both remain slightly below their Election Day closes. AMD rose 13% after Oppenheimer upgraded it to outperform with a $600 price target, and the iShares Semiconductor ETF (SOXX) gained more than 7% after falling about 13% the prior week. Investors now turn to Tuesday's consumer price index and Friday's producer price index. CNBC
Nvidia stock falls 4% as scrutiny turns to Jensen Huang's affair with alleged Chinese spy
Nvidia shares closed 4.27% lower after the board launched an independent investigation into reports that CEO Jensen Huang was the target of a "foreign intelligence effort." Huang "fully supports the review and has committed to cooperating with it." Panmure Liberum's Joachim Klement said the impact is currently contained to Nvidia. CNBC
Oil falls as Trump signals restraint on Iran
President Trump said he was highly unlikely to order fresh attacks on Iran as long as talks to end the conflict progressed, though both countries reported that shipping had been hit in or near the Strait of Hormuz. Brent had plunged 16% the prior week, and some analysts said the market was showing signs of a return to excess supply, with JPMorgan estimating the global surplus at about 1.4 million barrels per day in October. CNBC
| Asset | Close | Chg | % |
|---|---|---|---|
| S&P 500^GSPC | 7,549.94 | +173.08 | +2.35% |
| Nasdaq Composite^IXIC | 25,253.14 | +673.71 | +2.74% |
| Dow Jones^DJI | 52,389.75 | +1,104.02 | +2.15% |
| CBOE Volatility Index^VIX | 19.92 | -5.72 | -22.31% |
| U.S. Dollar IndexDXY · 4:00 PM ET | 101.68 | -0.61 | -0.59% |
| Brent CrudeICE Jan '27 · 2:30 PM ET settle | $92.57 | -$5.75 | -5.85% |
| WTI CrudeNYMEX Dec '26 · 2:30 PM ET settle | $86.85 | -$3.98 | -4.38% |
| GoldCOMEX Dec '26 · 1:30 PM ET | $4,115.00 | +$39.20 | +0.96% |
| Tenor | Close | Chg | % |
|---|---|---|---|
| 1-MonthT-bill | 4.04% | +2bp | +0.50% |
| 3-MonthT-bill | 4.24% | +5bp | +1.19% |
| 6-MonthT-bill | 4.26% | +3bp | +0.71% |
| 1-YearT-note | 4.38% | +5bp | +1.15% |
| 2-YearT-note | 4.56% | +5bp | +1.11% |
| 5-YearT-note | 4.67% | +3bp | +0.65% |
| 10-YearT-note | 4.88% | +2bp | +0.41% |
| 30-YearT-bond | 5.26% | 0bp | 0.00% |
Equities extended Friday's rebound into a broad-based advance: the S&P 500 rose 173.08 points, or 2.35%, to 7,549.94, the Nasdaq Composite 673.71 points, or 2.74%, to 25,253.14, and the Dow 1,104.02 points, or 2.15%, to 52,389.75. The VIX fell 5.72 to 19.92, a 22.31% decline that returns it below 20. All 11 sectors advanced, led by Industrials (+3.82%), Technology (+3.73%) and Consumer Discretionary (+2.92%), while Energy (+0.52%) and Consumer Staples (+0.90%) trailed. Semiconductor and AI-hardware names led the gainers: Coherent (+16.79%), Monolithic Power Systems (+16.60%), Advanced Micro Devices (+13.26%), Teradyne (+12.73%) and Flex (+12.02%). Nvidia (-4.27%) was the notable exception within the group, on the board's investigation into its chief executive; First Solar (-4.74%) led decliners, ahead of Take-Two Interactive (-3.48%), Akamai Technologies (-3.37%) and Axon Enterprise (-3.14%), which extended Friday's 18.24% decline.
Treasuries sold off at the front end ahead of Tuesday's CPI: the 3-month and 1-year rose 5bp to 4.24% and 4.38%, the 2-year 5bp to 4.56% and the 5-year 3bp to 4.67%, while the 10-year added 2bp to 4.88% and the 30-year was unchanged at 5.26%, flattening 2s10s to 32bp from 35bp. The $58bn 3-year note auction cleared at a high yield of 4.627% with a 2.53 bid-to-cover ratio. The dollar eased, with DXY down 0.61 to 101.68 (-0.59%), and gold rose 0.96% to $4,115.00 (1:30 PM ET print). Crude extended last week's liquidation as the White House signaled restraint on Iran: January Brent settled $5.75 lower at $92.57 (-5.85%) and December WTI $3.98 lower at $86.85 (-4.38%), narrowing the Brent-WTI spread to $5.72 from $7.49. Energy equities still closed higher, decoupling from the move in the underlying commodity.
Tuesday opens with Governor Waller on the economic outlook at 4:00 AM in London, followed by October CPI and real earnings at 8:30 AM, $42bn of 10-year notes at 1:00 PM and two Bowman appearances on the outlook. Wednesday is the Veterans Day holiday, with the Fed's weekly releases moved to Thursday, which also brings initial jobless claims at 8:30 AM, Governor Barr and October business formation statistics at 10:00 AM, and the $25bn 30-year bond auction at 1:00 PM. Friday carries October PPI at 8:30 AM, Bowman on supervision and regulation at 10:50 AM and Vice Chair Jefferson on productivity at 7:00 PM. With Friday's payrolls beat already feeding December hike expectations and today's front-end selloff, CPI is the print most likely to determine whether the rate-sensitive leg of the rebound holds, while the 10- and 30-year auctions test demand for duration as crude-driven inflation pressure eases.