Stock market today: Dow, S&P 500, Nasdaq recover from bruising sell-off as oil prices fall
Investors regained risk appetite ahead of another packed week of earnings, midterm elections, and a key jobs report.
US stocks climbed on Monday as investors regained risk appetite ahead of another packed week of earnings, midterm elections, and a key jobs report.The Dow Jones Industrial Average (^DJI) rose 1.1%, while the S&P 500 (^GSPC) added 1%. The tech-heavy Nasdaq Composite (^IXIC) jumped 1.3%, attempting a comeback after a tech rout dragged stocks last week.Markets were poised to bounce back after an AI-fueled sell-off that saw the Nasdaq Composite lose 5.2% during the month of October. Chipmakers and other tech names rebounded ahead of the market open, though Apple (AAPL) shares dipped slightly in the lead-up to the iPhone maker's earnings report after the bell on Monday. Investors also got a fresh look at Anthropic on Monday morning with the AI startup filing an amended version of its S-1 filing. Bitcoin (BTC-USD) was little changed at $78,000 per token after cryptocurrencies took a hit following a $6.3 billion hack of Binance, which investigators are calling the biggest crypto hack in history.Crude oil prices, meanwhile, dropped amid reports that the US and Iran are seeking a diplomatic resolution to the war in the Middle East. Brent crude futures (BZ=F), the international benchmark, traded near $105 per barrel.On the economic data front, US manufacturing expanded in October as inflation pressures persisted, according to recent surveys. The calendar for the rest of the week will feature several pieces of labor market data, culminating in the government's October jobs report on Friday.
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