Markets in 5Tuesday, November 10
Stocks rally as oil eases and chipmakers rebound
Stocks rallied on lower oil and chip gains, Nvidia lagged on a board probe, and Treasury yields held near 4.88% ahead of October inflation data.
Stocks
Stocks rebound sharply as election selloff eases
The S&P 500 closed Monday at 7,549.94, up 2.35%, its best day since April 8, after the Nasdaq Composite rose 2.74% to 25,253.14. The Dow gained 2.15%, or 1,104.02 points, to 52,389.75. The rally followed a week in which the S&P 500 posted its worst performance since April 2025, and the index still sat 3.4% below its October record high. All 11 S&P 500 sectors rose, and advancers outnumbered decliners 418 to 80.
Sectors
Chipmakers surge while Nvidia slides on CEO probe
Advanced Micro Devices closed up 13.26% and Broadcom rose 8.78%, as the Philadelphia Semiconductor Index gained more than 6% after falling more than 12% the previous week. Nvidia closed down 4.27% at $178.67 after its board opened an independent investigation into reports that chief executive Jensen Huang was the target of a foreign intelligence effort. The decline removed about $192 billion from the company's market value. Constellation Energy jumped more than 10% after its adjusted third-quarter profit beat expectations.
Commodities
Oil slides as Trump downplays further Iran strikes
Brent crude futures settled Monday at $92.57 a barrel, their lowest settlement since August 31, after President Trump played down the prospect of further U.S. strikes on Iran. In early trade on Tuesday at 0759 GMT, Brent was down 1.7% at $90.99 and WTI was down 1.8% at $85.20, but that is a single early snapshot tied to ongoing talks. Gold closed Monday at $4,149.50, up $74.60 or 1.83%. Tankers were reportedly hit near the Strait of Hormuz.
Rates
Treasury yields edge higher ahead of inflation report
The 10-year Treasury yield closed at 4.88% on Monday, up 2 basis points on the day, according to official Treasury par yield data. The two-year yield was 4.56% and the 30-year 5.26%, leaving the 2s10s spread at 32 basis points. The 10-year stood at 5.24% a month earlier, on October 9, and at 4.11% a year earlier.
Economy
October inflation report due at 8:30 AM Eastern
The Bureau of Labor Statistics releases the October consumer price index today at 8:30 AM ET. Economists expect a 0.3% rise in the headline measure and 0.2% in core prices, according to the Dow Jones consensus. The October jobs report, released Friday, showed payrolls rising a much better-than-expected 165,000 and unemployment edging down to 4.1%. Market-implied odds of a December rate hike rose past 65% after that data.