Stocks Rally at Midday Monday as Chipmakers Rebound and Oil Slides; S&P 500 Up About 1.9%

U.S. stocks climbed sharply at midday on Monday, Nov. 9, 2026, as investors bought back into chipmakers and other artificial intelligence-linked shares that were hit hard last week, while a steep drop in crude oil prices lifted airlines, cruise lines and trucking companies.

Around midday Eastern time, the S&P 500 was up about 1.9% at 7,515.66, the Dow Jones Industrial Average was up about 1.8% at 52,215.52, and the Nasdaq 100 had gained about 2.7%, according to Barchart market data. Yahoo Finance reported the Nasdaq Composite up about 2.6% in late-morning trade, after all three major indexes posted losses last week.

The Associated Press reported that the S&P 500 was on track for a second straight gain following last week's slide, which was driven partly by worries that Democratic victories in the midterm elections could slow the construction of AI data centers. Even after the recent swings, the AP said, the index sat only 3.8% below the all-time high it set last month.

Chip stocks lead the rebound

Semiconductor shares drove much of the advance. The iShares Semiconductor ETF was up close to 7%, per Barchart's quote table. Advanced Micro Devices, Applied Materials and Marvell Technology each rose roughly 10% or more, while Broadcom, Seagate Technology, Arm Holdings and Western Digital gained more than 8%. KLA, Analog Devices and Micron Technology were up more than 6%.

Most of the largest technology companies also rose. Tesla gained about 5.5% and Meta Platforms about 5%, while Amazon, Alphabet, Apple and Microsoft each added between roughly 2% and 3.6%. Nvidia was the notable exception, falling more than 5% after its board opened an investigation involving Chief Executive Jensen Huang. Yahoo Finance reported that Nvidia shares were down as much as 8% earlier in the session before the selling eased.

Oil slide lifts transport stocks

December WTI crude futures were down more than 3% after President Donald Trump said it was "highly unlikely" he would order new strikes on Iran if peace talks made progress, Barchart reported. Lower fuel prices helped airline shares: American Airlines, United Airlines and Alaska Air Group each rose more than 6%, and Delta Air Lines and Southwest Airlines gained more than 3%. Carnival, Royal Caribbean and Norwegian Cruise Line were higher, as were trucking and freight names including Saia, Knight-Swift, XPO and J.B. Hunt.

Company news

Several individual stocks moved on corporate updates, according to Barchart. NRG Energy rose more than 9% after agreeing to sell 4.9 gigawatts of natural gas generation assets to LS Power for $4 billion in cash. Ferguson Enterprises gained more than 11% after raising its full-year net sales guidance to growth of about 7%, up from a prior mid-single-digit view. QXO jumped more than 16% after reporting preliminary third-quarter net sales of about $4.9 billion.

On the downside, Ionis Pharmaceuticals fell more than 27% after forecasting full-year revenue of $875 million to $900 million, below analysts' consensus of about $925.4 million. Monday.com dropped more than 6% after guiding fourth-quarter revenue to $380 million to $382 million, short of the roughly $385.7 million consensus.

Rates and the Fed

Treasury yields edged up as the stock rally reduced demand for safe-haven bonds. The 10-year yield was up about 1.4 basis points at 4.872%, Barchart said, after earlier trading lower as falling oil prices pushed the 10-year breakeven inflation rate to a three-month low of 2.215%. The Treasury is auctioning $125 billion of notes and bonds this week for its quarterly refunding, beginning with $58 billion of three-year notes on Monday.

Chicago Fed President Austan Goolsbee said U.S. employment and growth look fairly stable but that inflation is starting to pick up in services, Barchart reported. Markets were pricing in about an 84% chance of a quarter-point rate increase at the Federal Reserve's Dec. 8-9 meeting. On the data front, September wholesale trade sales rose 2.8% from August, above expectations of 1.1% and the largest increase in four months.

Earnings and the week ahead

Corporate results have remained a support. Citing Bloomberg Intelligence data, Barchart said third-quarter S&P 500 earnings are expected to rise 31% from a year earlier, and that 84% of the 440 companies that have reported so far have beaten estimates. Companies scheduled to report on Monday included Constellation Energy, KKR, Occidental Petroleum and Take-Two Interactive.

Investors are now looking ahead to the October consumer price index on Tuesday. Overseas, the Euro Stoxx 50 was up about 2%, Japan's Nikkei 225 closed up 2.33% and China's Shanghai Composite ended 0.32% higher.