S&P 500 jumps 2.35% — that was the headline number on Wall Street on Monday, as stocks roared back in one of their strongest sessions of the year. The S&P 500 closed up 2.35% at 7,549.81, the Nasdaq jumped 2.74% to 25,253.14, and the Dow climbed 2.15% to 52,389.75. Oil slid sharply at the same time, after President Donald Trump said fresh strikes on Iran were “highly unlikely” if talks keep moving.
It was a broad rally, not a narrow one. Buyers stepped in across sectors after a rough stretch, and the mood on trading desks shifted fast from caution to confidence. The only big name left out of the party was Nvidia, which fell as its chief executive’s troubles deepened.
The S&P 500 jumps 2.35% as buyers return in force
The S&P 500 jumps 2.35% to 7,549.81 after a session that started strong and stayed strong. Traders pointed to a mix of relief over Iran, steady jobs data and a sense that the recent sell-off had gone too far. When all three major indexes rise more than 2% on the same day, it usually means the market has decided the worst of the fear is over, at least for now.
The Nasdaq’s 2.74% gain to 25,253.14 led the way, as technology stocks bounced back hard. The Dow’s 2.15% rise to 52,389.75 showed the rally reached well beyond tech, with banks, industrials and consumer names joining in. Breadth like that is what traders want to see after a pullback, because it suggests money is coming back into the market rather than just rotating between a few favourites.
Gold also rose, with futures up 1.87% at $4,151.30, a reminder that not everyone is convinced the calm will last. Gold tends to climb when investors want cover, and its rise alongside stocks suggests some traders are hedging their bets even as they buy.
Oil slides nearly 6% as Iran fears ease
Brent crude slid 5.75% to $92.67, and US crude fell 4.30% to $86.92, after Trump said fresh strikes on Iran were “highly unlikely” if talks progress. The drop was the mirror image of the stock rally: the same easing of tensions that lifted equities took the war premium out of oil. The S&P 500 jumps 2.35% in part because cheaper energy lifts company margins and household spending power.
Oil traders had spent weeks pricing in the chance of a wider conflict, and that premium unwound in a single session. Lower oil prices, if they hold, would also help the inflation picture, which is one reason stocks liked the move so much. Cheaper energy feeds through to transport, manufacturing and household bills, and it gives central banks more room to breathe.
The question now is whether the talks keep moving. A single comment from Trump was enough to move oil nearly 6% in a day, and the market will be just as quick to reverse if the diplomacy stalls.
Nvidia sits out the rally
Nvidia sat out the rally, down 4.27% at $178.67 amid the investigation into chief executive Jensen Huang. The S&P 500 jumps 2.35% without its most valuable chipmaker is a striking detail, and it shows how much of the rally was driven by everything else in the market rather than the AI trade that has carried stocks for two years.
Trump said on Monday that the FBI is looking into Huang’s relationship with a Singapore-based executive US intelligence suspects of being a Chinese agent, and Nvidia’s board has opened its own probe. Investors hate uncertainty around leadership, and the stock’s fall on a day when the rest of the market surged shows how seriously they are taking it.
For now, Nvidia’s slide looks like a company-specific problem rather than a verdict on the chip sector. Other semiconductor names took part in the rally, and the Nasdaq’s gain suggests the market still believes in the AI story, even if it is suddenly unsure about one of its leading figures.
What traders are watching next
The S&P 500 jumps 2.35% on Monday, yet traders now price roughly an 80% chance of a quarter-point Fed rate hike in December, after Friday’s jobs report showed 165,000 jobs added. That is a sharp turn from the rate-cut bets that dominated earlier in the year, and it reflects a jobs market that is still too hot for the Federal Reserve’s comfort.
The 10-year Treasury yield sits at 4.864%, a level that keeps pressure on borrowers even as stocks rally. October CPI arrives on Tuesday at 7:30 AM CT, with headline inflation expected at +0.3% month on month, and that number will shape the Fed debate more than anything else this week.
CoreWeave reports tomorrow, and its numbers will be read as a fresh check on AI spending after the S&P 500 jumps 2.35%. After Nvidia’s fall, the market will want to hear that demand for AI computing is still strong. If CoreWeave disappoints, the doubts that hit Nvidia could spread wider.
Sources and Resources
Read the original reporting from The Retest: The Retest – November 9 close
Read more on World Reach Daily: World Reach Daily
Frequently Asked Questions
How much did the S&P 500 rise on Monday?
The S&P 500 jumps 2.35% to close at 7,549.81. The Nasdaq rose 2.74% to 25,253.14 and the Dow climbed 2.15% to 52,389.75.
Why did oil fall so sharply?
Brent crude slid 5.75% to $92.67 and US crude fell 4.30% to $86.92 after Trump said fresh strikes on Iran were “highly unlikely” if talks progress. Traders took the war premium out of prices.
Why did Nvidia fall while the market rallied?
Nvidia fell 4.27% to $178.67 amid the investigation into CEO Jensen Huang, even as the S&P 500 jumps 2.35%. Trump said the FBI is looking into Huang’s link to a suspected Chinese agent, and Nvidia’s board has opened its own probe.
What are the odds of a Fed rate hike in December?
Traders price roughly an 80% chance of a quarter-point hike in December, after Friday’s jobs report showed 165,000 jobs added. October CPI arrives Tuesday at 7:30 AM CT.
What should I watch next?
October CPI on Tuesday morning, CoreWeave’s results tomorrow, and whether the Iran talks keep moving. After the S&P 500 jumps 2.35%, any of the three could set the tone for the rest of the week.
Conclusion
The S&P 500 jumps 2.35% in a session that had almost everything a bull market wants: broad gains, lower oil and a clear reason to be hopeful. Nvidia’s fall is a reminder that the rally is not built on a single company any more, and the Fed’s December decision still hangs over the market. For now, though, Wall Street has its confidence back — and Tuesday’s inflation data will show whether it deserves to keep it.