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Stocks Rally as Oil Falls on Trump’s Iran Remarks

US and European shares rebounded today after Donald Trump played down the chance of new strikes on Iran, as oil fell and inflation worries eased ahead of tomorrow's US consumer price report.

Stocks rallied on both sides of the Atlantic today as oil fell sharply after Donald Trump played down the chance of new strikes on Iran. US indices gained between 2.15% and 2.74%, while European markets closed 1% to 1.7% higher.

The Nasdaq Composite rose 2.74% to 25,253.14, the Dow Jones Industrial Average gained 2.15% to 52,389.75 and the S&P 500 climbed 2.35% to 7,549.94. In Europe, the DAX in Frankfurt rose 1.73% and the pan-European STOXX 600 gained 1.26%. Paris’s CAC 40 added 1.16%, and London’s FTSE 100 advanced 1.02%.

FTSE.INDX

The rebound followed a rough week. Reuters reported that the S&P 500 was recovering from its biggest weekly drop since April 2025. Even after today’s gain, the index remains about 1.8% below its Wednesday 4 November close.

The rally followed remarks from the US President on the eight-month-old conflict. Donald Trump said renewed strikes were “highly unlikely” while talks continue.

Oil fell more than 4% after the comment, which cooled inflation fears and softened bond yields. A bond yield is the annual return on a bond, and it falls when bond prices rise.

Bar chart of Monday's percentage gains for the Nasdaq, S&P 500, Dow, DAX, STOXX 600, CAC 40 and FTSE 100
One-day change in major indices, Monday 9 November 2026. US indices outpaced European ones. Source: market data.

In London, miners led. Antofagasta rose 6.17%, Anglo American 5.21%, Fresnillo 4.97% and Glencore 4.1%, helped by higher precious metals prices. Rolls-Royce and Babcock gained about 4.8%, and HSBC, Barclays and Lloyds rose 2% to 3%. Tobacco and consumer names such as Imperial Brands, BAT and Haleon closed notably lower.

US gains came despite a fall of more than 5% in Nvidia (NASDAQ: NVDA), after its board opened an investigation into chief executive Jensen Huang.

Sterling firmed too. GBP/USD closed at 1.3424, up 0.55% from Friday’s 1.33505.

The move leans on oil and on a remark from a single speaker, so it is exposed to the next Iran headline. The next test is tomorrow’s US consumer price index, the headline inflation gauge, which could move bond yields again.

Asktraders News Team
Asktraders News Team
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The AskTraders Analyst Team features experts in technical and fundamental analysis, as well as traders specializing in stocks, forex, and cryptocurrency.

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