US Stocks Rally, Oil Prices Swing Lower11/09 09:41

   The U.S. stock market is rallying Monday and clawing back more of its big 
loss from last week as oil prices swing lower. The strength came even though 
Nvidia, one of Wall Street's most influential stocks, sank.

   NEW YORK (AP) -- The U.S. stock market is rallying Monday and clawing back 
more of its big loss from last week as oil prices swing lower. The strength 
came even though Nvidia, one of Wall Street's most influential stocks, sank.

   The S&P climbed 1.9% and was on track for a second straight gain following a 
wipeout on worries that Democratic victories in the U.S. midterm elections 
could mean a slowdown in the construction for AI data centers. Despite its 
manic recent swings, the main measure of Wall Street's strength is sitting only 
3.8% below its all-time high set last month.

   The Dow Jones Industrial Average was up 805 points, or 1.6%, as of 10:30 
a.m. Eastern time, and the Nasdaq composite was 2.5% higher.

   Stocks got a lift from a 4.1% drop for the price of a barrel of Brent crude 
to $94.27. It's been coming down from more than $112 at the start of the month 
amid uncertainty about what will happen with the war with Iran.

   The latest leg lower came after President Donald Trump told CNN over the 
weekend that a resumption of strikes is "highly unlikely" if the United States 
sees progress in negotiations, though U.S. Secretary of State Marco Rubio said 
Sunday that Iranian demands for ending the war had sometimes been "outrageous 
and ridiculous."

   Several strong profit reports from big U.S. companies also helped to lift 
the market.

   Constellation Energy added 6.3% after the power company reported both profit 
and revenue for the summer that topped analysts' expectations. It's been 
benefiting from deals announced recently to power data centers for Big Tech 
companies.

   Those data centers, and the blame they're getting from voters for increases 
in power bills, are coming under increased scrutiny following Democratic sweeps 
of statehouses in last week's election. The worry is that governments could 
impose restrictions on the industry, which would fewer purchases of 
artificial-intelligence chips, electricity and other products and services 
around the AI industry.

   Stocks linked to the AI build out were holding steadier on Monday. Advanced 
Micro Devices rose 9.5% to recover some of its 11% loss from last week. 
CoreWeave climbed 6.4% after tumbling 15.4% last week.

   The stock that quickly became the face of the AI boom, Nvidia, fell 3.8%. 
The chip company said it's investigating its CEO, Jensen Huang, after he 
acknowledged an intimate relationship with a business executive who, according 
to The New York Times, U.S. intelligence determined was gathering information 
for China.

   Nvidia's board said it has "no reason to believe" that either national 
security or Nvidia secrets were compromised, but that its inquiry would examine 
all available information.

   Guo Jiakun, spokesperson for China's Ministry of Foreign Affairs, called the 
allegations "nothing but smears against China."

   In stock markets abroad, indexes were mixed in China amid mostly modest 
moves. Stocks rose 0.3% in Shanghai and dipped 0.1% in Hong Kong. Indexes were 
stronger in Japan, where the Nikkei 225 jumped 2.3%, and in Europe, where 
France's CAC 40 rose 1.2%.

   In the bond market, Treasury yields were holding relatively steady following 
big moves last week. The yield on the 10-year Treasury held at 4.86%, where it 
was late Friday. It had topped 5.30% last month and reached its highest level 
in two decades when worries were spiking about high inflation and the U.S. 
government's big debt, among other things.

   A pullback in Treasury yields should help pull down rates for mortgages and 
other kinds of loans. It also helps give prices a boost for stocks and other 
investments.