US stocks opened November on a positive note, with the S&P 500 up 0.5%, the Nasdaq advancing 0.7% and the Dow Jones gaining nearly 400 points, rebounding after Friday’s sell-off in AI-related shares. Investors are preparing for a busy week featuring the US midterm elections, key labour market data and a new round of corporate earnings. Sentiment was further supported by a drop in oil prices.
Consumer discretionary led sector gains, while technology stocks attempted to recover and energy names lagged. Nvidia rose 1.6%, Amazon climbed 3.3% and Tesla added 2.4%. By contrast, Oracle fell 4.5% after launching a $10 billion share offering and initiating a debt sale of the same size. Marvell Technology declined nearly 6% after announcing a deal to acquire Lumentum Holdings Inc. Elsewhere, Palantir slipped 0.3% and Apple edged down 0.6% ahead of their earnings reports due later in the day.
