US Stocks Rise to Kick Off November
US stocks rose at the start of November, with the S&P 500 up 0.5%, the Nasdaq gaining 0.7% and the Dow Jones advancing nearly 400 points, following Friday’s sell-off in AI-related shares. Investors are gearing up for an event-packed week, with the US midterm elections, key labour market data and a fresh batch of corporate earnings in focus. A decline in oil prices also helped boost market sentiment. Consumer discretionary was the best-performing sector, while technology stocks attempted a recovery and energy shares underperformed. Nvidia (1.6%), Amazon (3.3%) and Tesla (2.4%) booked strong gains. In contrast, Oracle slid 4.5% after offering $10 billion of shares and starting a debt sale for the same amount. Marvell Technology fell almost 6% after announcing an agreement to acquire Lumentum Holdings Inc. Elsewhere, Palantir fell 0.3% and Apple shares were down 0.6% ahead of their earnings releases later in the day.
US stocks rose at the start of November, with the S&P 500 up 0.5%, the Nasdaq gaining 0.7% and the Dow Jones advancing nearly 400 points, following Friday’s sell-off in AI-related shares. Investors are gearing up for an event-packed week, with the US midterm elections, key labour market data and a fresh batch of corporate earnings in focus. A decline in oil prices also helped boost market sentiment. Consumer discretionary was the best-performing sector, while technology stocks attempted a recovery and energy shares underperformed.
Nvidia (1.6%), Amazon (3.3%) and Tesla (2.4%) booked strong gains. In contrast, Oracle slid 4.5% after offering $10 billion of shares and starting a debt sale for the same amount. Marvell Technology fell almost 6% after announcing an agreement to acquire Lumentum Holdings Inc. Elsewhere, Palantir fell 0.3% and Apple shares were down 0.6% ahead of their earnings releases later in the day.