U.S. stocks surge on November 9 as Brent crude falls nearly 6%
All three major U.S. stock indexes rose sharply on November 9 as technology shares rebounded from the previous week’s sell-off. The Dow gained more than 1,100 points, while Brent crude futures fell 5.85%. Investors will next watch inflation data and earnings from AI-related companies.
U.S. stocks rose sharply on November 9. The Dow Jones Industrial Average gained 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 climbed 2.74% to 25,253.14. Technology shares rebounded after the previous week’s sell-off, lifting the broader market.
Illustrative image of the U.S. stock market.（VietVance）
International oil prices extended the previous week’s decline. WTI crude futures in New York fell $3.98, or 4.38%, to $86.85 a barrel; Brent crude futures in London dropped $5.75, or 5.85%, to $92.57 a barrel. Oil prices had already fallen nearly 17% the previous week. Investors saw a reduced likelihood of further escalation in the Middle East; U.S. President Donald Trump had also said he was unlikely to order new strikes on Iran.
Chip stocks had mixed results. Nvidia closed down 4%, Broadcom rose nearly 9%, and Advanced Micro Devices gained 13%. The iShares Semiconductor exchange-traded fund rose more than 7% on November 9 after falling about 13% the previous week. The market remains concerned that potentially stricter rules on data center construction, energy consumption and development costs could slow investment in artificial intelligence infrastructure.
This week, investors will watch earnings from AI-related companies including CoreWeave, Cisco and Applied Materials to assess the technology sector’s outlook. The Consumer Price Index, expected on November 10, and the Producer Price Index, expected on November 13, will also offer clues about the Federal Reserve’s next interest rate move.
Source: VietVance
