The US stocks market surged after the opening bell on Monday, November 9, with benchmark indices advancing on the back of a sharp decline in crude oil prices and recovery in technology stocks after last week's AI-driven volatility.
Dow Jones Industrial Average rose 1.2% or 700 points at open to 51,870, while S&P 500 rose 0.9% to 7,457. Meanwhile, the tech-heavy Nasdaq Composite gained 0.8%.
Here's are three reasons driving the Wall Street today -
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
Crude prices slip
Brent crude falling below $94 a barrel after recording its biggest weekly loss since April 2020. Brent crude futures fell 4.5% to $93.86 per barrel after US President Donald Trump struck a more conciliatory tone about Iran over the weekend, saying it's “highly unlikely” he will order extensive strikes on the Islamic Republic.
US West Texas Intermediate crude futures fell nearly 3% to around $88 a barrel, while international benchmark Brent crude declined more than 3% to about $93.8 a barrel.
Tech Rebound
Tech stocks recovered on Monday after posting heavy losses following Democrats' strong midterm results, which raised fears among investors over tighter AI regulations.
Bargain Hunt
Investors are possibly buying stocks that have fallen sharply in price, believing they are now available at cheaper valuations and could recover.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
