Morning bid Americas: War is over?
SPY•Wall Street rose as oil prices fell, with Brent down 22% since the end of October as President Donald Trump signalled no Iran war escalation. Investors were also watching US October inflation data, expected to show monthly core CPI growth slowing to 0.2%.
1. Oil and markets
Wall Street rose on Monday, led largely by recently battered chip stocks, as crude prices fell 6%. Oil continued to tumble on Tuesday after Trump signalled there would be no re-escalation of the Iran war while talks to end the eight-month conflict intensified. Brent has fallen 22% since the end of October, while the one-year US inflation swap moved below 2.0%.
2. Stocks and company news
Nvidia fell 4% on Monday amid spying allegations involving CEO Jensen Huang. The company is investigating, while Huang said he does not want to step down; Nvidia reports quarterly earnings next week. CoreWeave was due to report earnings after the bell, and Anthropic was expected to start its IPO roadshow after an email referring to a nearly $70 billion share sale was retracted.
3. Inflation data ahead
The October US consumer price report was due Tuesday and was expected to show monthly core inflation slowing to 0.2%. Monthly CPI was expected to rise 0.3%, compared with 0.6% in September. The article said there would be no official year-on-year figure because the October 2025 report was not released during the government shutdown.
