News · Yahoo Finance

Stock Market Midday, Nov. 2: Stocks Rally as Oil Prices Tumble on Diplomatic Hopes

As of 11:31 AM ET, the Dow Jones rose 1.05% to 52,314, the Nasdaq Composite gained 0.76% to 25,631 and the S&P 500 climbed 0.64% to 7,629 as risk appetite returned. Crude oil fell more than 7% as investors bet on a diplomatic resolution to the conflict with Iran, while gold rose 1.97% to $3,975.80. Oracle dropped 6.2% after announcing a $20 billion fundraising plan, while Amazon rose more than 4% as investors reassessed its record cloud growth. The article says Oracle's filing for $10 billion in stock and $10 billion in bonds to fund AI infrastructure shouldn't have surprised investors, as it followed capital spending plans announced last week.

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