S&P 500 jumps 2.3% to 7,549.94 in best session since April
Key Facts
The S&P 500 rose 2.3% to 7,549.94 in Monday’s session, November 9, its best daily performance since April, according to the Associated Press. It was the index’s second consecutive gain and recovered much of the previous week’s losses. The advance followed a selloff sparked by concerns that Democratic wins in the midterm elections could slow the construction of AI data centers. The gains brought the index close to the record high it set the previous month. It closed 3.4% below that level, the agency reported.
Other major U.S. indexes also rose in the same session. The Dow Jones gained 2.2% to 52,389.75, while the Nasdaq Composite rose 2.7% to 25,253.14. The Russell 2000 posted a larger percentage gain, climbing 3.1% to 2,840.81. The closing figures reflect the breadth of the session’s gains across indexes after the preceding decline. The S&P 500 had gained about 704.44 points, or 10.3%, since the start of 2026 through Monday’s session.
Falling oil prices were among the factors supporting the market. Brent crude dropped 5.8% to $92.57 a barrel on November 9, after trading above $112 at the start of the month. Associated Press coverage linked the oil decline to uncertainty over the course of the war with Iran and negotiations. President Donald Trump told CNN over the weekend that resuming strikes was “highly unlikely” if the United States made progress in negotiations. By contrast, Secretary of State Marco Rubio described some Iranian demands as “outrageous and ridiculous.” Still, the yield on 10-year U.S. Treasuries edged up to 4.87% on Monday, from 4.86% late the previous Friday.
Stocks diverged during the session despite gains in the indexes. Nvidia, which the Associated Press described as one of the stocks with the greatest influence on Wall Street, fell, while AMD jumped 13.3%, recouping its 11% loss in the previous week. CoreWeave rose 5.6% after falling 15.4% over the previous week. Constellation Energy also climbed 10.5%, after the energy company said its summer profits and revenue exceeded analysts’ expectations. The moves highlight the varied performance of AI- and energy-related stocks on a day of broad gains across the indexes.
The rebound session followed an earlier decline that put the technology sector at the center of concerns about the market’s direction. According to Reuters, the S&P 500 information technology sector had recorded its biggest one-day drop in more than 6 years before the selloff, although it still accounted for more than 35% of the index at Thursday’s close, November 5. Portfolio manager Robert Pavlik said weakness in AI stocks “will weigh on technology, and that in turn weighs on the S&P 500.” The 10-year U.S. Treasury yield had topped 5.30% in October before retreating to Monday’s levels. This backdrop places technology shares and yields at the center of investors’ monitoring of market performance.
Investors are looking ahead on November 10 to the U.S. Consumer Price Index report for October, due at 08:30 a.m., according to the Bureau of Labor Statistics. Federal Reserve Governor Christopher Waller was also scheduled to deliver remarks on the economic outlook at the Bank of England’s watchers conference in London on November 10. On the corporate front, CoreWeave’s report was due Tuesday, while Nvidia’s results are expected on November 17 and Dell’s on November 24, according to Reuters. These dates are near-term markers for sentiment toward AI stocks, following the sector’s decline and rebound. Investors were also watching how inflation data and Waller’s remarks might affect their assessment of the economic outlook and monetary policy.