S&P 500 has its best day since April as oil falls

The S&P 500 closed at 7,549.94 on 9 November, up 2.3% and 3.4% below the record set in October. The Dow Jones Industrial Average gained 2.2% to 52,389.75 and the Nasdaq composite 2.7% to 25,253.14. Last week’s selloff had been driven by worries that Democratic gains in the midterm elections could slow the construction of AI data centres.

Advanced Micro Devices rose 13.3% and Constellation Energy 10.5% after results above expectations, while Nvidia fell 4.3%. The 10-year Treasury yield was little changed near 4.87%, according to the Associated Press, well below the peak above 5.30% it reached in October.