The Storyup to 5 Nov
US stocks swing on AI worries, oil prices and midterm election results
US equities spent October near record highs but proved volatile, driven by AI-trade doubts, swings in oil prices and inflation data. A hot inflation reading on October 14 stirred rate-hike worries, and tech selloffs on October 16 and 22 produced the worst day since July. The Nasdaq touched three-month lows before AI-linked stocks rebounded in early November. After Democrats won control of Congress in the November 3 midterms, oil fell and the Dow surged about 1,500 points on November 4, its biggest gain of the year, although data center stocks dropped.
8 sources
- S&P 500, Nasdaq reach record closing highs as focus pivots to earnings — Reuters
- Wall Street hits record on high profit hopes — CommBank
- The S&P 500 Hits a New Record High, Powered by Tech—and Not Much Else — WSJ
- Wall Street ends lower, off record highs, as Treasury yields climb — Reuters
- S&P 500, Nasdaq end lower as crude prices jump, chip stocks weigh — Reuters
- Wall Street posts weekly gains with earnings, inflation data on tap — Reuters
- US stocks hover near their latest record in mixed trading on Wall Street; Dow Jones rose and Nasdaq composite slipped — ABC7 Bay Area
- Nasdaq falls ahead of earnings, economic data while oil rallies — Reuters