The U.S. stock market rallied to its best day since April and clawed back more of its big loss from last week as oil prices swing lower.
The S&P 500 jumped 2.3% Monday, its second straight gain following a wipeout on worries that Democratic victories in the midterm elections could mean a slowdown in the construction of AI data centers. The Dow Jones Industrial Average climbed 2.2%, and the Nasdaq composite rallied 2.7%.
Brent crude’s price dropped 5.8%, which helped lift the market. The strength came even though Nvidia, one of Wall Street’s most influential stocks, sank.
On Monday:
The S&P 500 rose 173.08 points, or 2.3%, to 7,549.94.
The Dow Jones Industrial Average rose 1,104.02 points, or 2.2%, to 52,389.75.
The Nasdaq composite rose 673.71 points, or 2.7%, to 25,253.14
The Russell 2000 rose 86.71 points, or 3.1%, to 2,840.81.
For the year:
The S&P 500 is up 704.44 points, or 10.3%.
The Dow is up 4,326.46 points, or 9%.
The Nasdaq is up 2,011.15 points, or 8.7%.
The Russell 2000 is up 358.91 points, or 14.5%.
The Associated Press
