Dow Jumps 1,104 Points as Oil Drops 4.4% and Tech Rebounds
Updated
Updated · CNBC · Nov 9
Dow Jumps 1,104 Points as Oil Drops 4.4% and Tech Rebounds
3 articles · Updated · CNBC · Nov 9
Summary
1,104.02 points lifted the Dow to 52,389.75, while the S&P 500 rose 2.35% and the Nasdaq gained 2.74% in the market’s strongest broad rebound since last week’s AI-led sell-off.
WTI crude fell 4.38% to $86.85 a barrel and Brent slid 5.85% to $92.57, easing one pressure point on investors as chip and megacap tech shares attracted renewed buying.
AMD jumped 13%, Broadcom nearly 9% and the SOXX semiconductor ETF more than 7%, even as Nvidia fell 4% after its board opened an investigation into CEO Jensen Huang’s ties to an alleged Chinese spy.
The Dow has now moved above its Election Day close, but the S&P 500 and Nasdaq remain slightly below, with investors still weighing Democratic policy risks, elevated energy costs and the Fed outlook.
This week’s focus shifts to AI-related earnings from CoreWeave, Cisco and Applied Materials, plus U.S. CPI and PPI reports that could shape expectations for the next Fed move.