S&P 500 Jumps 2.35% in Best Day Since April as Oil Slides and Chips Rebound

NEW YORK, Nov 9 — U.S. stocks rallied hard on Monday, clawing back most of last week's losses in the S&P 500's strongest session since April 8. A slide in oil prices cooled inflation fears, chip stocks rebounded from their worst week in more than a year, and every one of the 11 S&P 500 sectors closed higher. The one big name that missed the rally was Nvidia, down 4.27% after its board opened an independent investigation into CEO Jensen Huang.

The scoreboard#

Final closes, Monday November 9 (Associated Press closing figures):

Index	Close	Change
S&P 500	7,549.94	+173.08 (+2.35%)
Nasdaq Composite	25,253.14	+673.71 (+2.74%)
Dow Jones Industrial Average	52,389.75	+1,104.02 (+2.15%)
Nasdaq 100	27,907.63	+3.40%
Russell 2000	2,840.81	+3.15%

The S&P 500 opened at 7,422.24 — which was also its session low — climbed to a high of 7,577.39, and closed 27 points under that high (session data). Breadth matched the index move: 418 S&P 500 stocks rose against 80 decliners, and advancers beat decliners by about 4.5 to 1 on the NYSE, Reuters reported. The index remains 3.4% below the all-time high it set in October (AP).

What drove it#

Oil fell, and took inflation fears with it. U.S. crude fell about 4.3% to roughly $87 a barrel and Brent fell about 5.6% to about $92.80, after President Trump said the U.S. was unlikely to renew attacks on Iran while talks progress. Brent had been above $112 at the start of the month. Cheaper fuel lifted airlines — United gained 6.78% and Delta 5.28% — while Exxon Mobil and Chevron slipped against the tape.

Chips bounced. The Philadelphia Semiconductor Index rose about 6.9% after falling more than 12% last week (Reuters). AMD jumped 13.26% after an Oppenheimer upgrade, Broadcom gained nearly 9%, and chip equipment names including Applied Materials and Lam Research rose more than 10%. Industrials and consumer discretionary were the top S&P sectors, each up more than 3%, and Caterpillar led the Dow, up 7.21%.

The rebound had a backdrop. Last week's selloff — the S&P 500's biggest weekly drop since April 2025 — followed the Democrats' sweeping midterm victory and the concern that new regulation could dent the durability of the AI trade (Reuters). Monday's session recovered most of that ground in a day, with the volatility index down 22% to 19.92.

The exception: Nvidia#

Nvidia fell 4.27% to $178.67 and was the only decliner in the semiconductor index. The stock dropped more than 8% in the morning to its lowest intraday level since March 31 before recovering part of the loss; the decline erased roughly $192 billion of market value at the close (CNN). The board's investigation, announced Sunday, examines reports that Huang was the target of a foreign intelligence effort; the board says it has no reason to believe national security or company secrets were compromised, and Huang remains CEO. Our full breakdown of what every party has said is here.

Cross-asset close#

• Treasury yields: the 10-year was little changed at about 4.86% — the rally was not a falling-rates story.
• Gold: December gold rose about 1.8% to about $4,147 an ounce; silver gained 2.62% to $53.31.
• Dollar: the dollar index fell 0.61% to 101.67.
• Inflation expectations: the New York Fed's October survey put median one-year expectations at 3.9%, essentially unchanged from September.

What is next#

The October consumer price index lands Tuesday at 8:30 a.m. ET — economists surveyed expect a 0.3% monthly rise in headline CPI and 0.2% in core. Producer prices follow on Friday. And the stock at the center of Monday's exception reports earnings on November 17: Nvidia.

Closing figures are final cash-session values as reported by the Associated Press; sector, breadth and semiconductor-index detail from Reuters reporting; intraday session range from market data feeds. This brief is market reporting, not financial advice.

Sources#

• Reuters — Trading Day: Broad Rebound Rally Lifts All Boats but Nvidia
• CNN — Nvidia Stock Falls after Investigation into CEO, Bucking Market Rally
• Associated Press — final closing figures and market report, November 9, 2026.