Markets
S&P 500 Jumps 2.35% and Nasdaq 2.74% as Oil Slides and the VIX Drops, While Nvidia Closes Lower
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Chip stocks and small caps led Monday's rebound, crude fell more than 4%, and traders now turn to Tuesday's October inflation report.
By Emma Cruz ·
U.S. stocks finished sharply higher on Monday, Nov. 9, as technology shares bounced and crude oil fell, although Nvidia lagged the rebound after its board opened an investigation tied to CEO Jensen Huang. The S&P 500 closed at 7,549.94, up 173.08 points or 2.35%. The Dow Jones Industrial Average gained 1,104.02 points, or 2.15%, to 52,389.75, and the Nasdaq Composite rose 2.74% to 25,253.14, according to Yahoo Finance market data at the close [1].
Smaller companies joined the rally. The Russell 2000 rose 3.17% to 2,841.45, and the Cboe Volatility Index, a gauge of expected swings in the S&P 500, fell 21.9% to 20.02 [1]. Capital.com analyst Daniela Hathorn described the move as "a tentative recovery in risk appetite" rather than a clear reversal, pointing to open questions about AI profitability, borrowing costs and possible regulatory changes after the midterm elections, TheStreet reported [2].
Chip stocks did much of the lifting. AMD rose about 12% intraday after an upgrade to Buy from Oppenheimer, and Micron and ASML also surged, Yahoo Finance reported [1]. Nvidia moved the other way. It closed at $178.67, down $7.97 or 4.27%, at 4 p.m. ET, and was little changed at $178.36 in after-hours trading at 4:15 p.m. ET [1]. TheStreet linked the decline to the company's announcement of an internal investigation tied to reports about Huang, and said the board has no reason to believe company secrets were compromised [2].
Energy and rates were the other moving parts. West Texas Intermediate crude for December delivery fell 4.14% to $87.07 a barrel, and gold rose 1.82% to $4,149.10, Yahoo Finance data showed [1]. The 10-year Treasury yield was little changed at 4.864% in the same data [1], while Reuters quotes showed it near 4.880% as of 4:38 p.m. ET, with the 2-year at 4.575% and the 30-year at 5.270% [3].
Crypto did not join the rally. Bitcoin held mostly below $75,000 and was largely unaffected by the stock and oil moves around midday, CoinDesk reported. By 3:25 p.m. ET, ether and XRP were down closer to 5% and Solana was off just under 3% [4]. Earlier in the day, bitcoin had hovered just above its 200-day moving average of about $73,151 after an overnight low near $73,761 [4].
After the bell, Take-Two Interactive shares fell about 4% in extended trading after its quarterly bookings came in below analyst estimates, Reuters reported [5]. Hims & Hers had fallen about 10% before its after-close report, with analysts expecting adjusted earnings of $0.15 per share and revenue of $892.7 million, Yahoo Finance said [1]. Rocket Lab and monday.com also reported after the close [1].
The next big test is Tuesday's October consumer price report. Economists expect a 0.3% monthly rise in the headline index, down from 0.6% in September, and a 0.2% rise in the core index, down from 0.3%, Yahoo Finance reported [1]. Reuters said the report may sway whether the Federal Reserve raises rates at its December meeting [3]. Beyond inflation, traders will watch whether the rebound in chip stocks holds while Nvidia stays under scrutiny, how oil trades after Monday's drop, and whether bitcoin can keep defending its long-term trend line. Figures in this article reflect closing and after-hours prices on Nov. 9 and may change.
Sources:
[1] Yahoo Finance, "Stock market today: Nasdaq surges despite Nvidia stock slide, Dow and S&P 500 rally as AI tech trade rises", November 9, 2026. https://finance.yahoo.com/markets/live/stock-market-today-monday-november-9-dow-sp-500-nasdaq-nvidia-090535419.html
[2] TheStreet (via Yahoo Finance), "Stock Market Today (Nov. 9, 2026): Nasdaq rises 3% as oil slides, AI rout pauses", November 9, 2026. https://finance.yahoo.com/markets/stocks/articles/stock-market-today-nov-9-145714241.html
[3] Reuters (via MarketScreener), "TREASURIES-Yields edge up before Tuesday's CPI release", November 9, 2026. https://www.marketscreener.com/news/treasuries-yields-edge-up-before-tuesday-s-cpi-release-ce785fd3d189f627
[4] CoinDesk, "Live news: Bitcoin remains lower as stocks surge, crude oil tumbles", November 9, 2026. https://www.coindesk.com/tech/2026/11/09/live-news-nvidia-slides-on-ceo-allegations-as-bitcoin-hovers-just-above-its-200-day-average
[5] Reuters (via Investing.com), "Take-Two projects third-quarter bookings below estimates", November 9, 2026. https://www.investing.com/news/stock-market-news/taketwo-projects-thirdquarter-bookings-below-estimates-5013240
This article was produced with AI assistance. It is for informational purposes only and is not financial advice. StockVolt and its authors may hold positions in securities mentioned.