-Iran diplomacy. Lower energy costs pulled Treasury yields down and sent investors into airlines, homebuilders and retailers a day before the midterm elections.
The catalyst came from Tehran. Iranian President Masoud Pezeshkian said the country’s supreme leader had given the government powers to seek a resolution of the conflict through dialogue, according to the state-run IRNA news agency.
That followed a message from Vice President JD Vance to Mohsen Rezaei, secretary of Iran’s Supreme National Security Council, aimed at restarting peace talks, The Wall Street Journal reported. 82.
6% to 7,626, up 46 points. The Dow Jones Industrial Average gained 538 points, or 1%, to 52,308.
com Inc. 7% gain after Phillip Securities upgraded the stock to Buy and lifted its price target to $330 from $320.
The move added about $121 billion to Amazon’s market value. 5% to 28,514.
Within the Magnificent Seven, Apple Inc. 5% ahead of quarterly results.
The Russell 2000 advanced 1% to 2,841. Bonds rallied as oil eased.
89%. 25%.
01. 1% to $77,378.
9. 9, below the 56 forecast.
S. m.
6%. 1%.
4%. 1%.
Airlines Take Off as Oil Drags Energy Lower Consumer discretionary led the S&P 500. 2%, powered by Amazon, Tesla Inc.
(NASDAQ:TSLA) and Home Depot Inc. (NYSE:HD).
Energy lagged as crude tumbled. 5%.
3%, while technology and health care slipped. S.
6%, with Delta Air Lines Inc. 7%.
9% alongside bullion. Read Also: From Tech Stocks to Staples: October Delivers Wall Street's Biggest Sector Rotation Since Dot-Com Bubble Burst Earnings drove the biggest gains in the Russell 1000.
IDEXX Laboratories Inc. 71 consensus.
16 a share. Tempus AI Inc.
60 billion. Wingstop Inc.
3%, a fourth straight gain since its Oct. 28 earnings report, bringing its rally since then to 37%.
Solar stocks bounced as yields fell. Nextpower Inc.
5%, and Enphase Energy Inc. 3%, recovering part of the 16% drop it suffered on Oct.
28 after a third-quarter miss. AI hardware sold off.
Lumentum Holdings Inc. 3% and Marvell Technology Inc.
5 of its shares for each Lumentum share. Because the deal is paid in stock, Marvell’s slide keeps shrinking the offer’s value.
Read Also: QUICK SPARK: Marvell Stock Eyes Worst 3-Day Drop Since September 2001 Fermi Inc. 2% and Everpure Inc.
4% as the AI infrastructure trade lost ground. Morgan Stanley’s prime brokerage data showed hedge funds cutting AI exposure to underweight for the first time since early 2023.
Axsome Therapeutics Inc. 7 million on sales of Auvelity and Sunosi.
Looking Ahead After the close, Palantir Technologies Inc. (NASDAQ:PLTR) reports with analysts expecting earnings of 41 cents a share.
4 billion Vertex Pharmaceuticals Inc. 82), ON Semiconductor Corp.
(NASDAQ:ON) (88 cents), Diamondback Energy Inc. 72), Williams Companies Inc.
(NYSE:WMB) (54 cents) and Realty Income Corp. (NYSE:O) (41 cents) also report.
