Nasdaq 100 jumps 3.3% as chip stocks rebound from last week's AI selloff, while Nvidia falls 4.6%
The Nasdaq 100 rose 3.3% on Monday, as chip stocks led Wall Street's rebound from last week's AI selloff.
The S&P 500 was up 2.4% and the Dow 2.1%, as of 12:32 p.m. ET. The S&P 500 is heading for a second straight daily gain, after Friday's partial recovery.
The Philadelphia Semiconductor Index jumped 6.6%. Last week was the chip index's worst since March 2025. The biggest AI names gained the most:
- Advanced Micro Devices (AMD): up 11.9%, after losing 11% last week
- Marvell Technology (MRVL): up 9.7%
- Broadcom (AVGO): up 9.4%
- Meta Platforms (META): up 5.3%
Nvidia (NVDA) went the other way and fell 4.6%. Its board is investigating CEO Jensen Huang over his relationship with a business executive. The New York Times reports that US intelligence concluded the executive was collecting information for China.
Nvidia's board said it has "no reason to believe" that national security or company secrets were compromised.
Oil gave the wider market a lift. Brent crude fell 4.7% to $93.70 a barrel, as of 12:22 p.m. ET. Over the weekend, President Donald Trump told CNN that renewed strikes on Iran are "highly unlikely" if negotiations make progress.
Companies with large fuel costs gained on that. United Airlines (UAL) rose 6.1% and Carnival (CCL) 3.8%.
Constellation Energy (CEG) jumped 9.6% after its results beat expectations. Its third-quarter adjusted operating earnings grew to $5.06 per share from $3.04 a year earlier.
The power producer raised the midpoint of its full-year guidance, now $12.50 to $12.80 per share. It supplies nuclear power for data centers, including under 20-year agreements with Amazon (AMZN) and Google (GOOGL).
Treasuries hardly moved. The 10-year yield rose from 4.86% on Friday to 4.88%.
According to Reuters, Morgan Stanley and UBS said last week's AI rout was overdone. Worries about a Federal Reserve rate hike in December remain after October's strong jobs report.
The Labor Department publishes October's consumer price index on Tuesday, November 10.
Sources & Further Reading
- "Wall St roars back as oil slide eases inflation jitters; Nvidia drops." Reuters. November 9, 2026.
- "US stocks rally and recover more of last week's losses as oil prices swing lower." Associated Press. November 9, 2026.
- "Constellation Q3 2026 Earnings Release." Constellation Energy. November 9, 2026.
This article was drafted with the help of AI. Kris Gunnars fact-checked, edited and published the article and is responsible for its accuracy and quality. How we use AI
