Stocks jump as oil tumbles, Nvidia falls amid internal probe
SPY•The three major US stock indexes rose more than 2% on Monday as Brent crude fell 5.85% to $92.57 a barrel. Nvidia shares dropped 4.2% amid an internal investigation into whether a foreign intelligence effort had targeted CEO Jensen Huang.
1. US stocks rebound
The Dow rose 2.15% to 52,389.75, the S&P 500 gained 2.35% to 7,549.94 and the Nasdaq advanced 2.74% to 25,253.14. The S&P 500 rebounded from its biggest weekly drop since April 2025. The semiconductor index surged 6.9%, while Nvidia was its only decliner.
2. Oil prices fall
Brent crude settled down $5.75, or 5.85%, at $92.57 a barrel after President Donald Trump said he was highly unlikely to order fresh attacks on Iran as long as talks to end the war progressed. US West Texas Intermediate fell 4.38% to $86.85. Lower oil prices helped ease inflation concerns.
3. Nvidia and rates
Nvidia fell 4.2% and closed at its lowest level since April 7, as investors questioned CEO Jensen Huang's future following an internal investigation into whether a foreign intelligence effort had targeted him. US Treasury yields rose ahead of Tuesday's October consumer price report; the 10-year yield gained 1.48 basis points to 4.874%.
