Stocks edge up but Nvidia woes pose a fresh test, oil falls
SPY•World stock markets rose 0.4% on Monday after hitting six-month lows, while Nvidia shares fell just over 4% in pre-market trading. Brent crude dropped 2% to $96.29 a barrel after Donald Trump said fresh US attacks on Iran were highly unlikely if talks progress.
1. Markets steady cautiously
World stock markets nudged higher on Monday after reaching six-month lows, but investor sentiment remained fragile as Nvidia shares fell just over 4% in pre-market trading. The drop followed an internal investigation into whether CEO Jensen Huang had been targeted by a foreign intelligence effort, putting his future at the AI chipmaker under scrutiny. MSCI's World Stock Index rose 0.4%, while Asia-Pacific shares outside Japan gained 1.25%.
2. Oil prices retreat
Brent crude fell 2% to $96.29 a barrel after US President Donald Trump said Sunday he was highly unlikely to order fresh attacks on Iran as long as talks to end the conflict progress. Elevated oil prices continued to weigh on the world economy, while China's factory-gate inflation accelerated to its fastest pace in more than four years in October.
3. Investors watch inflation
US consumer price figures due Tuesday are in focus as markets price in roughly an 80% chance of a quarter-point Federal Reserve rate hike in December. Earnings from tech companies including CoreWeave, Applied Materials and Cisco Systems are also due this week, testing the profitability of AI investment amid high build-out costs.
