Dow Jones Surges 1,104 Points as Oil Prices Slide and Technology Shares Rebound, Lifting Broader US Markets

Mumbai, 10 November 2026: US equities closed sharply higher on Monday as a steep decline in crude oil prices and a broad recovery in technology shares pulled the major indices out of last week’s artificial-intelligence-driven selloff.  

The Dow Jones Industrial Average gained 1,104.02 points, or 2.15%, to settle at 52,389.75. The S&P 500 rose 2.34% to 7,549.82, while the Nasdaq Composite climbed 2.74% to 25,253.14.  

The session’s advance followed a 5%-plus drop in Brent crude after US President Donald Trump downplayed the likelihood of fresh strikes on Iran, easing immediate concerns about energy-driven inflation and helping restore demand for risk assets across sectors. 

Dow Jones Gains 1,104 Points as Caterpillar and Financials Drive Blue-Chip Rebound 

The Dow Jones Industrial Average opened at 51,643.01 and closed at 52,389.75, recording a gain of 1,104.02 points, or 2.15%. The index traded within a range of 51,643.01 to 52,574.34 during the session, finishing near its intraday high. 

Industrial and financial constituents led the advance. Caterpillar rose 7.16%, adding the largest single-stock contribution to the price-weighted benchmark as machinery and AI-infrastructure-linked industrial names recovered from last week’s heavy selling. Goldman Sachs gained 4.67%, while Cisco Systems advanced 5.11%.  

Amazon added 2.97% and Microsoft rose 2.60%. On the downside, Nvidia fell 4.39%, the sharpest decline among the Dow’s thirty constituents, after the chipmaker’s board disclosed an independent investigation into CEO Jensen Huang’s relationship with a businesswoman alleged by US intelligence agencies to have acted as a foreign intelligence asset. Chevron slipped 0.86% and Boeing lost 0.59% as energy and aerospace names lagged. 

The session followed a weekend of corporate and geopolitical developments that shifted the market’s immediate focus away from last week’s technology rout. The Dow’s close placed the blue-chip average above its level on Election Day, reversing the bulk of the losses recorded during the post-midterm selloff. 

S&P 500 Rises 172 Points as All Sectors Except Energy Participate in Broad Advance 

The S&P 500 opened at 7,422.24 and ended at 7,549.82, gaining 172.96 points, or 2.34%. The benchmark reached an intraday high of 7,577.39 and a low of 7,422.24, closing within the upper half of its daily range. 

Ten of the index’s eleven sectors finished in positive territory, with industrials leading at 4.2%, followed by consumer discretionary at 3.7% and information technology at 3.0%. Energy was the sole declining sector, falling 0.3%, as lower crude prices weighed on oil-linked constituents.  

Within the benchmark, Advanced Micro Devices surged 13.46%, Applied Materials gained 11.21%, and Broadcom rose 8.65%, reflecting a concentrated rebound in semiconductor and semiconductor-equipment shares that had borne the brunt of last week’s AI-related selling. Nvidia’s 4.39% decline was the most prominent drag on the technology sector, but the index absorbed the weakness as gains across industrials, financials, and consumer names proved broad enough to offset the single-stock drag. 

The S&P 500’s advance came as market participants assessed a sharp retreat in oil prices and positioned ahead of Tuesday’s October consumer-price-index release, the week’s most closely watched macroeconomic data point. 

Nasdaq Composite Jumps 674 Points as Chip Stocks Rebound Despite Nvidia’s Decline 

The Nasdaq Composite opened at 24,777.44 and closed at 25,253.14, gaining 673.71 points, or 2.74%. The technology-heavy index traded between 24,762.57 and 25,354.30 during the session, finishing just below its intraday peak. 

Semiconductor and semiconductor-equipment shares drove the rebound. Advanced Micro Devices climbed 13.33%, Applied Materials rose 11.21%, Lam Research gained 10.49%, and Broadcom advanced 8.65%. Tesla added 5.37% and Meta Platforms rose 4.95%, contributing to the index’s broad-based advance.  

Nvidia was the principal exception, falling 4.39% and capping the index’s upside. The Nasdaq’s gain exceeded those of the Dow and S&P 500, consistent with its heavier weighting toward the technology and growth shares that led Monday’s recovery. 

The index responded to the same combination of falling oil prices and receding immediate AI-related panic that supported the broader market, with the semiconductor complex recovering a substantial portion of the ground lost during the previous week’s rout. 

Also Read: What Is the New York Stock Exchange (NYSE)?

Russell 2000 Gains 91 Points as Smaller Stocks Track Broad Market Recovery 

The Russell 2000 opened at 2,787.92 and closed at 2,845.52, gaining 91.42 points, or 3.32%. The small-cap benchmark recorded an intraday high of 2,852.68 and a low of 2,784.04, finishing near the top of its range. 

Smaller-cap shares participated fully in the session’s advance, with the Russell 2000’s percentage gain exceeding those of all three major large-cap indices. The move reflected broad participation across cyclical and growth-sensitive segments of the small-cap universe rather than concentration in a narrow group of names.  

The benchmark’s performance was consistent with the day’s overall risk-on tone, which lifted a wide range of equities as oil prices fell and technology shares recovered. 

S&P 100 Advances 2.4% as Large-Cap Shares Track Rebound in Industrials and Technology 

The S&P 100 opened at 3,656.25 and finished at 3,723.07, recording a gain of 87.23 points, or approximately 2.40%. The large-cap benchmark traded between 3,656.25 and 3,727.75 during the session. 

Movements in major constituents mirrored the broader market’s leadership, with industrial and technology names contributing the largest share of the index’s advance. Caterpillar’s 7.16% gain and Goldman Sachs’s 4.67% advance were among the most significant positive contributors, while Nvidia’s 4.39% decline limited the index’s upside.  

The S&P 100’s performance reflected the same combination of falling energy prices, recovering technology shares, and pre-CPI positioning that shaped trading across the major US equity benchmarks. 

Dow Composite Gains 2.3% as Transportation and Utility Averages Advance 

The Dow Jones Composite Average opened at 16,233.98 and closed at 16,493.06, gaining 365.34 points, or 2.27%. The composite traded between 16,233.98 and 16,553.19. 

The Dow Jones Transportation Average ended at 20,395.85, compared with an opening level of 19,912.28, representing a gain of 620.98 points, or 3.14%. The Dow Jones Utility Average closed at 1,112.19, changing 1.06% from its opening level of 1,104.42.  

The transportation average’s outperformance reflected the benefit of lower fuel costs for airlines and freight operators, while the utility average’s more modest advance was consistent with the defensive characteristics of the sector on a day when cyclical and growth shares led. 

Philadelphia Semiconductor Index Surges 6.85% as Chip Stocks Rebound Sharply 

The Philadelphia Semiconductor Index (SOX) opened at 9,496.83 and closed at 10,033.93, gaining 643.68 points, or 6.85%. The sector benchmark reached an intraday high of 10,116.64 and a low of 9,467.26. 

The scale of the SOX rebound followed its biggest weekly loss since March 2025 in the prior week. Advanced Micro Devices rose 13.33%, Applied Materials gained 11.21%, and Lam Research advanced 10.49%, while Nvidia fell 4.39%, the sole significant decliner within the semiconductor complex.  

The index’s move reflected a concentrated recovery in chip and chip-equipment shares after last week’s selloff, with the advance occurring despite the unresolved investigation surrounding Nvidia’s chief executive. 

Also Read: How to invest in US stocks

NYSE Composite Rises 548 Points as Broad Market Participation Lifts Benchmark 

The NYSE Composite Index opened at 23,950.37 and closed at 24,499.15, recording a gain of 548.78 points, or approximately 2.29%. The index traded between 23,950.37 and 24,560.39 during the session. 

The advance was broad-based across the exchange’s listed equities, with the composite’s percentage gain closely tracking the S&P 500’s move. The benchmark’s performance confirmed that Monday’s recovery extended beyond the largest technology and industrial names into a wider cross-section of US-listed companies, consistent with the day’s overall risk-on tone. 

S&P MidCap 400 and SmallCap 600 Advance as Mid and Small Shares Participate 

The S&P MidCap 400 opened at 3,602.50 and closed at 3,715.23, moving 112.73 points, or 3.13%, with an intraday range of 3,602.50 to 3,732.41. The S&P SmallCap 600 opened at 1,686.61 and ended at 1,722.37, gaining 48.39 points, or 2.89%, after trading between 1,686.61 and 1,730.36. 

Both benchmarks participated fully in the session’s advance, with the mid-cap index’s percentage gain exceeding that of the large-cap S&P 500. The two indices reflected movements among mid- and small-cap shares as the combination of falling oil prices and recovering technology shares lifted risk appetite across the market-cap spectrum, following a prior week in which smaller-cap shares had also recorded losses alongside the major benchmarks. 

Oil Plunges 5.71% to $92.71 as Trump Eases Iran Fears, Tech Stocks Rebound Ahead of CPI 

The principal market catalyst was a sharp decline in crude oil prices after US President Donald Trump said fresh military strikes on Iran were “highly unlikely” while negotiations continued. Brent crude fell 5.71% to $92.71 a barrel, while West Texas Intermediate dropped 5.11% to $86.19. The oil retreat eased immediate concerns about energy-driven inflation and removed a source of pressure that had weighed on equity valuations during the prior week. 

A second catalyst was the technology sector’s recovery from last week’s AI-driven selloff. The prior week’s declines had been amplified by the Democratic sweep in the midterm elections, which raised concerns about tighter regulation of data-center construction and energy use.  

Monday’s rebound reflected a partial reversal of those losses, with semiconductor shares leading the advance even as Nvidia remained under pressure from the board investigation into its chief executive. Market participants were also positioning ahead of Tuesday’s October consumer-price-index release and Friday’s producer-price-index report, both of which were expected to inform expectations for Federal Reserve policy at the December meeting. 

VIX Falls 20% to 20.51 as Volatility Recedes Alongside Equity Rebound 

The CBOE Volatility Index (VIX) changed -20.0% to 20.51, compared with its previous close of 25.64. The index, which measures expected volatility in the S&P 500 over the coming 30 days, retreated sharply as equity benchmarks recovered across the board. 

The VIX’s decline coincided with the S&P 500’s 2.34% advance and the Nasdaq Composite’s 2.74% gain, reflecting a reduction in near-term hedging demand as the market moved past the prior week’s technology-led turbulence. The index remained above its 52-week low of 13.38 but well below the elevated levels reached during last week’s selloff. 

10 of 11 S&P 500 Sectors Rise as Industrials Jump 4.2%; Energy Slips 0.3% 

Performance across the 11 S&P 500 sectors was broadly higher, with ten groups finishing in positive territory. Industrials recorded the strongest move at 4.2%, followed by consumer discretionary at 3.7% and information technology at 3.0%. Energy was the sole declining sector, falling 0.3% as lower crude prices weighed on oil-linked constituents. 

The remaining sectors recorded the following moves: communication services 1.4%, consumer staples 0.4%, financials 2.1%, health care 1.6%, utilities 1.1%, real estate 0.9%, and materials 1.2%.  

The sector pattern, cyclical and growth-sensitive groups leading while energy lagged, was consistent with the day’s oil-price decline and technology rebound. Defensive sectors’ more modest gains reflected a rotation away from the safe-haven positioning that supported them during last week’s selloff. 

Tesla Jumps 5.37%, Meta Gains 4.95% as 6 of 7 Tech Giants Rise; Nvidia Falls 4.39% 

Among the Magnificent Seven, Tesla moved 5.37%, Meta Platforms changed 4.95%, and Amazon recorded 2.97%. Microsoft gained 2.60%, Alphabet rose 1.27%, and Apple advanced 2.31%. Nvidia was the sole decliner, falling 4.39% as the board investigation into CEO Jensen Huang’s relationship with an alleged foreign intelligence asset continued to weigh on the stock.  

The group’s aggregate performance, six gainers and one significant decliner, contributed positively to the major US equity benchmarks, with the technology-heavy Nasdaq benefiting most from the breadth of the advance outside Nvidia. 

Also Read: US Stock Market Timings 

Semiconductor, Financial and Energy Stocks Reflect Diverging Session Trends 

Semiconductor stocks were sharply higher, with the Philadelphia Semiconductor Index moving 6.85% and the iShares Semiconductor ETF gaining approximately 7%, its best session since late July. Advanced Micro Devices rose 13.33% and Applied Materials gained 11.21%, while Nvidia’s 4.39% decline was the sector’s principal exception.  

Financial stocks recorded gains, with Goldman Sachs up 4.67%, Morgan Stanley up 3.19%, and Citigroup up 2.54%. Energy stocks moved lower alongside crude prices, with Chevron down 0.86% and Exxon Mobil down 0.59%. AI and growth stocks were higher overall, with the recovery in chip and semiconductor-equipment names offsetting Nvidia’s weakness and supporting the technology-heavy indices. 

New York Fed Survey Shows Inflation Expectations Edging Higher 

The Federal Reserve Bank of New York’s October Survey of Consumer Expectations showed one-year inflation expectations at 3.91%, up marginally from 3.90% in September. Three-year expectations rose to 3.29% from 3.25%, while the five-year gauge held steady at 3.0%. The survey also indicated that Americans grew more worried about the labour-market outlook, with projections that the unemployment rate will be higher a year from now reaching their highest level since April 2020. 

The data provided the latest reading on inflation expectations ahead of Tuesday’s October consumer-price-index release, which consensus forecasts expected to show annual headline inflation rising to 3.9% from 3.7% in September, with core CPI at 2.8% from 2.6%. 

December Fed Rate Hike Odds Hit 80% as US 10-Year Yield Holds at 4.86% 

The Federal Reserve remained a key focus as markets assessed the likelihood of a December rate increase. Richmond Fed President Tom Barkin said he did not have a base case for the December meeting, stating that incoming inflation and employment data would determine the policy decision. Market-implied odds of a 25-basis-point rate increase in December stood at approximately 80%, according to rate-futures pricing, following October’s stronger-than-expected non-farm payrolls report. 

The 2-year US Treasury yield stood at 4.55%, while the 5-year yield was approximately 4.70%. The 10-year Treasury yield ended at 4.86%, and the 30-year yield was 5.26%. The 2-year to 10-year spread remained positive at roughly 31 basis points, with the curve’s shape reflecting the market’s assessment of near-term policy tightening against a longer-run inflation and growth outlook. Yields held broadly steady as investors awaited Tuesday’s CPI release, the week’s principal macroeconomic event. 

Brent Falls 5.71% to $92.71 as Trump’s Iran Comments Ease Supply Fears 

Brent crude traded at $92.71, changing -5.71%, while WTI crude stood at $86.19, moving -5.11%. The oil decline followed President Trump’s comments that fresh strikes on Iran were “highly unlikely” while negotiations continued, easing immediate concerns about supply disruptions. 

Gold traded at $4,126.05 an ounce, changing 1.44%, while silver moved 2.27% higher to $53.20 an ounce. Copper changed 0.8% to $4.92 a pound, and natural gas moved 7.3% higher to $3.218 per million British thermal units, reaching its highest level in more than three weeks on forecasts for colder weather and lower production. The commodity moves reflected a combination of easing geopolitical risk in oil, continued demand for precious metals as inflation hedges, and weather-driven strength in natural gas. 

Also Read: What Are Fractional Shares? 

Dollar Index Slips 0.4% to 101.8 as Risk Appetite Recovers 

The US Dollar Index (DXY) moved -0.4% to 101.8, reversing a portion of Friday’s 0.7% rally, which had been the greenback’s largest daily gain in nearly six months. EUR/USD stood at approximately 1.1150, USD/JPY traded at 148.50, and GBP/USD was at 1.3420. The dollar’s decline coincided with the recovery in risk assets and the retreat in oil prices, with the greenback weakening most against the Australian dollar, euro, and British pound. Currency movements followed the shift in rate expectations ahead of the CPI release and the receding of the immediate safe-haven demand that had supported the dollar during last week’s equity selloff. 

The closing session was shaped by a 5.7% drop in Brent crude and a broad technology rebound, lifting the Dow 2.15%, the S&P 500 2.34%, and the Nasdaq 2.74%. Energy was the sole declining sector, while the VIX fell 20% to 20.51. Treasury yields held steady and the dollar slipped 0.4%, with markets focused on Tuesday’s CPI release. 

Source 

• https://www.nasdaq.com/ 

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• https://www.spglobal.com/spdji/en/indices/equity/sp-500/ 

• https://www.nasdaq.com/market-activity/index/comp 

• https://www.nasdaq.com/market-activity/quotes/nasdaq-ndx-index 

• https://www.spglobal.com/spdji/en/indices/equity/sp-100/ 

• https://www.lseg.com/en/ftse-russell/indices/russell-us 

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• https://www.spglobal.com/spdji/en/indices/equity/dow-jones-composite-average/ 

• https://www.nasdaq.com/market-activity/index/sox 

• https://www.cboe.com/tradable_products/vix/