Dow Jones Today: Dow Surges 1,104 Points as Tech Stocks Rebound

Last updated: Monday, Nov. 9, 2026, 5:30 p.m. ET. This is a developing story. After-hours trading and Tuesday's inflation report could change the picture quickly.

Wall Street had its best day in months on Monday. The Dow Jones Industrial Average jumped 1,104.02 points, or 2.15%, to close at 52,389.75, CNBC reported. The S&P 500 added 2.35% to 7,549.94, its best session since April 8. The Nasdaq composite did better still, rising 2.74% to 25,253.14.

It was a sharp turn from last week, when the S&P 500 had its biggest weekly drop since April 2025, according to the New York Post. With Monday's gain, the Dow is back above its Election Day close. The S&P 500 and Nasdaq aren't quite there yet.

Why the Dow Jones surged 1,104 points today

Two things did most of the work: cheaper oil and a rush back into tech.

U.S. crude fell 4.38% to settle at $86.85 a barrel, CNBC said. The Post reported that the slide came as President Donald Trump downplayed the chance of fresh strikes on Iran. Lower oil takes some pressure off inflation, and inflation is what the market is most nervous about right now.

"Oil prices for sure, if they're down 4%, that's certainly adding fuel to the fire," Ken Polcari, chief market strategist at SlateStone Wealth, told the Post.

Tech stocks got hit hard last week after Democrats' strong midterm showing. Investors worried a Democratic-controlled Congress would tighten rules on data center construction and energy use, which would raise the cost of the AI buildout. We covered that slide in our earlier look at why tech stocks were down.

On Monday, buyers came back. Morgan Stanley and UBS both said last week's AI rout was overdone, the Post reported, and that heavy data center regulation was unlikely to play out.

"The Democrats are not going to destroy AI. They can't," Polcari said.

Which stocks moved the most

Chipmakers led the bounce. Advanced Micro Devices surged about 13% and Broadcom gained nearly 9%, according to the Post. AMD had also picked up an upgrade from Oppenheimer, which raised its rating to outperform with a $600 price target, CNBC noted.

Constellation Energy, a power company with big exposure to AI data centers, rose more than 10% after its third-quarter profit beat expectations. KKR added 1.7% on a record quarterly profit.

In the afternoon, 10 of the S&P 500's 11 sectors were higher, led by industrials with a gain of about 4.2%, CNBC reported. Energy was the only sector in the red, which makes sense on a day oil fell this much.

Nvidia fell while the market rallied

The odd one out was Nvidia. The chip giant closed down about 4% as investors weighed the company's internal investigation into Huang's relationship with Alice Huang, a businesswoman U.S. intelligence agencies say is a Chinese spy. The stock hit its lowest intraday level since March 31, the Post said.

We have the background on that story in our report on the Nvidia investigation into Jensen Huang.

What could move stocks next

Tuesday is the big one. The Labor Department releases the October consumer price index in the morning, and the producer price index comes out Friday. A hot jobs report last week revived talk of a Federal Reserve rate hike in December, so a high inflation number could undo some of Monday's gains.

Not everyone thinks the worst is over. Jay Hatfield, CEO of Infrastructure Capital Advisors, told CNBC the chip sell-off was "overdone" but said "it's not like the coast is clear." He expects the S&P 500 to trade in a range through the end of the year, pointing to high oil prices tied to the Middle East conflict and the Fed's rate outlook. Citi, meanwhile, cut its tactical call on U.S. and global tech stocks to neutral on Monday.

If you're tracking how oil feeds into what you pay, our gas prices explainer covers where pump prices are headed.

What we don't know yet

Monday's moves don't tell us whether the rebound will hold. Stock futures and after-hours trading will give the first read tonight, and Tuesday's CPI report is the next real test. We'll update this story if anything big changes.