U.S. stocks rose sharply on Monday, Nov. 9, as oil prices fell and technology shares recovered, helping major indexes make up some of the previous week’s losses.
The Dow Jones Industrial Average rose 1,104 points, or 2.15%, to close at 52,389.75. The S&P 500 rose 2.35%, and the Nasdaq Composite rose 2.74%. The S&P 500’s rise was its biggest one-day gain since April 8.
Oil futures also fell, with U.S. benchmark West Texas Intermediate ending trading 4.38% lower at $86.85 a barrel. Brent crude fell 5.85% to $92.57. The drop in oil helped improve investor sentiment.
Buyers returned after a market selloff led by technology stocks the previous week. Chip stocks drove much of the recovery, and Broadcom and AMD were among the notable gainers. The rally did not include every stock: Nvidia fell about 4%.
Several other major technology companies rose. Despite Monday’s gains, investors were still watching concerns about AI investment, possible restrictions on data centers, and the outlook for interest rates.