- Wall Street opened higher with Dow Jones up over 400 points on Monday morning
- S&P 500 and Nasdaq also advanced, boosted by easing oil prices and tech stock gains
- Brent crude fell 6.1% to $106.50, US WTI crude dropped over 6% to $97.70 per barrel
Wall Street opened higher on Monday, with US stocks staging a broad-based rebound as easing oil prices helped improve investor sentiment. The Dow Jones Industrial Average jumped more than 400 points in early trading, while the S&P 500 and Nasdaq Composite also advanced, extending gains across major indices.
The Dow Jones Industrial Average rose 405.26 points, or 0.78%, to 52,175.57 as of 9:35 a.m. EST, signalling a strong start to the trading session.
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The broader S&P 500 gained 38.38 points, or 0.51%, to trade at 7,618.45 at 9:36 a.m. EST. Meanwhile, the Nasdaq Composite climbed 187.597 points, or 0.74%, to 25,624.595, reflecting renewed buying interest in technology stocks.
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Falling crude prices helped ease some of the pressure on investors. Brent crude futures dropped 6.1% to $106.50 a barrel, while US West Texas Intermediate futures fell more than 6% to $97.70.
Oil extended its decline following reports that Iran's supreme leader had granted the government some authority to pursue peace talks. The development offered markets a potential reason for optimism amid concerns over geopolitical tensions and their impact on energy supplies.
Technology stocks also found support. Nvidia gained more than 1%, while Amazon and Tesla climbed over 2% each, helping the broader market recover.
The rebound followed a difficult week for US equities, particularly technology shares. Investors have been reassessing valuations and questioning whether the substantial spending on artificial intelligence infrastructure will generate sufficient returns.
The Nasdaq and S&P 500 ended October lower as concerns over AI-related spending weighed on technology stocks. The Nasdaq recorded its steepest monthly losses since March 2025.
The Dow, by contrast, advanced almost 2% during October as investors shifted towards defensive sectors, including healthcare.
Investors are also preparing for Tuesday's US midterm elections. Democrats are expected to take control of the House of Representatives, while the outcome of the Senate race remains uncertain.
ALSO READ: Iran Supreme Leader Gives Nod For US Peace Talks; Brent Crude Plunges To $106
Beyond politics and oil prices, investors face a packed calendar of corporate earnings and economic data. The monthly US jobs report is among the key releases due this week, offering fresh insight into the health of the labour market.
Apple, one of the so-called Magnificent Seven technology stocks, is scheduled to report its results after Monday's market close. McDonald's and Qualcomm are also due to announce earnings later in the week.
With oil prices, AI spending and political uncertainty all influencing sentiment, investors will be watching whether Monday's rebound marks a sustained recovery or a brief respite after last week's sell-off.
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