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Market Wrap: Stocks, Bonds, Commodities |
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On Monday, the Nasdaq 100 jumped 917 points (+3.40%) to 27,907, leading a broad rebound after last week's selloff in semiconductor and AI-infrastructure stocks, while Nvidia (NVDA) lagged behind due to an incident involving its founder and CEO Jensen Huang.
The S&P 500 rose 173 points (+2.35%) to 7,549, and the Dow Jones climbed 1,104 points (+2.15%) to 52,389.
Market sentiment improved amid falling oil prices. U.S. WTI crude futures retreated 3.98 dollars (−4.38%) to 86.85 dollars a barrel after U.S. President Donald Trump said fresh Iran strikes are highly unlikely if talks progress. He met with Qatar's prime minister later Monday on mediation, but no deal was announced.
Nvidia (NVDA) fell 4.27%, as the chip giant’s board started investigating reports that founder and CEO Jensen Huang had a relationship with an alleged Chinese spy.
Semiconductor stocks bounced hard even as Nvidia slid, with Advanced Micro Devices (AMD) surging 13.26%, Applied Materials (AMAT) up 11.37%, Broadcom (AVGO) up 8.78%, and Micron Technology (MU) up 6.25%.
Also, Arm Holdings (ARM) advanced 6.69%, Intel (INTC) rose 5.49%, Qualcomm (QCOM) climbed 3.66%, and Taiwan Semiconductor Manufacturing (TSM) was up 3.51%.
In fact, the Philadelphia Semiconductor Index jumped 6.85%.
AI-infrastructure stocks also outperformed the market, with Coherent (COHR) surging 16.79% after reporting better-than-expected quarterly results, Bloom Energy (BE) up 11.91%, and Lumentum (LITE) up 10.69%.
Mega caps – again except Nvidia – closed in positive territory, with Meta Platforms (META) jumping 5.12%, Tesla (TSLA) up 5.54%, Amazon (AMZN) up 2.94%, Microsoft (MSFT) up 2.75%, Apple (AAPL) up 2.43%, and Alphabet (GOOGL) up 1.18%.
Airline and cruise-line stocks were boosted by declining oil prices, with American Airlines (AAL) rising 7.44%, United Airlines (UAL) up 6.78%, Carnival (CCL) up 4.16%, and Royal Caribbean Group (RCL) up 3.00%.
The U.S. 10-year Treasury yield added 2.5 basis points to 4.884%.
Major European stock indexes gained more than 1%, with the DAX 40 rising 1.73%, the CAC 40 up 1.16%, and the FTSE 100 up 1.02%.
Spot gold advanced 65 dollars (+1.70%) to 4,140 dollars an ounce.
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The U.S. dollar dropped against major currencies amid easing concerns over an escalation in the U.S.-Iran conflict.
Major U.S. consumer price inflation data will be released later today.
EUR/USD climbed 79 pips to 1.1222, and USD/JPY declined 52 pips to 157.93.
GBP/USD rose 90 pips to 1.3440, AUD/USD gained 62 pips to 0.6925.
USD/CHF fell 11 pips to 0.8194, and USD/CAD slipped 10 pips to 1.4118.
Bitcoin managed to trade slightly above 75,000 dollars.
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In Asian trading hours, the U.S. dollar was stable, with EUR/USD remaining relatively flat at 1.1218 and GBP/USD at 1.3442.
USD/JPY traded higher to 158.06. According to a summary of opinions from the Bank of Japan policy meeting in October, several central bank officials called for accelerating the pace of rate hikes.
AUD/USD eased to 0.6921. China’s exports increased 35.2% year on year in October, faster than expected, and its trade surplus amounted to 1.04 trillion dollars in the first 10 months of 2026.
Spot gold retreated 28 dollars to 4,112 dollars an ounce, and Bitcoin dipped back to levels below 75,000 dollars.
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The U.S. consumer price inflation rate is expected to accelerate to 3.9% year on year in October.
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