{"id":13170,"date":"2026-11-02T19:33:31","date_gmt":"2026-11-02T19:33:31","guid":{"rendered":"https:\/\/sotnews.agency\/?p=13170"},"modified":"2026-11-02T19:33:31","modified_gmt":"2026-11-02T19:33:31","slug":"us-stocks-recover-some-of-last-weeks-sell-off-after-oil-prices-fall-sharply","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=13170","title":{"rendered":"US stocks recover some of last week’s sell-off after oil prices fall sharply"},"content":{"rendered":"
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Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, Monday. Reuters-Yonhap<\/p>\n<\/figcaption><\/figure>\n

NEW YORK \u2014 The U.S. stock market is rising Monday and recovering some of last week’s sell-off that was led by the tech and AI industries.<\/p>\n

The S&P 500 climbed 0.3 percent, coming off its third straight losing week, and pulled within 2.8 percent of its all-time high. The Dow Jones Industrial Average was up 494 points, or 1 percent, as of 12:50 p.m. Eastern time, and the Nasdaq composite was 0.4 percent higher.<\/p>\n

Stocks got a lift from sharp drops for oil prices, which headed back down in their latest yo-yo move on uncertainty about when the war with Iran will allow the global industry to return to normal. The price for a barrel of Brent crude, the international standard, fell 7.5 percent to $104.92.<\/p>\n

The price for the most actively traded contract in the Brent market has been veering between roughly $70 and $120 per barrel since just before the war began, and it\u2019s been quick to reverse direction.<\/p>\n

So have stocks in the artificial-intelligence industry, which have been shaky for months amid criticism that they surged too high and are in a bubble. Worries are growing that all the hundreds of billions of dollars Big Tech companies are pouring into AI data centers won\u2019t yield enough productivity and profit to make the investments worth it.<\/p>\n

The latest profit reports from Alphabet and other Big Tech companies also showed how AI may be dragging on their own businesses. Not only did Google\u2019s parent company burn through more cash during the latest quarter, as measured by something called free cash flow, it also reported slower-than-expected growth in its search business, which raised worries about AI cannibalizing its cash cow.<\/p>\n

But Alphabet rose 1 percent Monday, recovering some of its drop of more than 12 percent from Thursday, which was its worst in history.<\/p>\n

Other tech giants also held steadier. Nvidia rose 0.5 percent following its 4.2 percent slide on Friday.<\/p>\n

Outside of AI and tech, several stocks climbed after reporting better profits for the summer than analysts expected.<\/p>\n

Marriott International rallied 3.6 percent after reporting strength for its hotels around the world. Even in the Middle East, where the war has affected its business, CEO Anthony Capuano said that \u201ctrends improved meaningfully\u201d from the spring.<\/p>\n

Idexx Laboratories leaped 20.5 percent after likewise delivering stronger profit and revenue for the latest quarter than analysts expected. The company, which sells diagnostic equipment and other products to veterinarians, also raised its forecasts for revenue and profit for the full year of 2026.<\/p>\n

Expectations are high for all kinds of companies to continue to deliver big gains in profits as the U.S. economy keeps chugging along, even with high inflation and interest rates. A report on Monday said that growth for U.S. manufacturing was better last month than economists expected. Perhaps just as importantly, a measure of inflation in the survey by the Institute for Supply Management showed prices were rising at a slower pace.<\/p>\n

Monday’s drop in oil prices, meanwhile, helped launch stocks of companies with big fuel bills. United Airlines flew 5 percent higher, Southwest Airlines climbed 3.1 percent and cruise operator Carnival rose 4 percent.<\/p>\n

They helped offset a 10.1 percent drop for Marvell Technology after it announced a deal to buy Lumentum, which sells lasers and other products that power the networks and infrastructure behind AI and cloud computing.<\/p>\n

Marvell said it will give 4.5 of its shares for each Lumentum share, valuing it at roughly $115 billion. Lumentum\u2019s shares dropped 15.5 percent.<\/p>\n

Apple was the single heaviest weight on the market and fell 1.8 percent ahead of its profit report, which is scheduled to arrive after trading ends for the day.<\/p>\n

In stock markets abroad, indexes rose in Europe. The swings were larger in Asia, where South Korea\u2019s Kospi jumped 2.2 percent on renewed strength for the tech giants that dominate its market.<\/p>\n

In China, indexes rose 1.1 percent in Shanghai and 0.4 percent in Hong Kong to recover some of their steep recent losses. Stocks in Shanghai finished October more than 15 percent below a peak reached in May.<\/p>\n

The People\u2019s Bank of China said Monday that around 100 billion yuan ($15 billion) would be deployed under a new program could help support the market.<\/p>\n

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Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, Monday. Reuters-Yonhap NEW YORK \u2014 The U.S. stock market is rising Monday and recovering some of last week’s sell-off that was led by the tech and AI industries. The S&P 500 climbed 0.3 percent, coming off its third straight…<\/p>\n","protected":false},"author":1,"featured_media":13171,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_2277560469115098_106292521332774":"","twitter_aToxNzczMzI3Njk4OTg4ODUxMjAxOw==_1773327698988851200":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_monsterinsights_skip_tracking":false,"_templately_pack_id":"","_templately_imported_at":"","_templately_source":"","_templately_import_session_id":"","footnotes":""},"categories":[16,14],"tags":[],"class_list":["post-13170","post","type-post","status-publish","format-standard","has-post-thumbnail","category-korea","category-trending-news"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t