EBC Markets Briefing | Wall St higher after oil prices crashed

Wall Street jumped on Monday as broad-based technology sector gains successfully counterbalanced a pullback in market heavyweight Nvidia.

Corporate commentary on inflation across S&P 500 earnings calls has surged to a multi-year peak. This spike underscores corporate anxiety regarding sticky input costs and weakening consumer sentiment.

Headwinds from sticky inflation and higher interest rates persist, which poses growing credit and financial risks to both individual consumers and corporate borrowers, according to Wells Fargo.

US GDP increased at a seasonally adjusted annualized pace of 3.4% in Q3, well ahead of the 2.2% in the previous quarter. Meanwhile, consumer spending proved resilient.

Trump characterized his signature immigration enforcement as overly aggressive, signalling a major walkback from his primary agenda. That may help rein in the sticky service costs.

Qatar is attempting to convince Tehran to authorize IAEA inspections at bombed facilities, including those storing highly enriched nuclear material.

EBC Financial Group analyst says the S&P 500 printed a dramatic hammer candlestick. If the index manages to hold above 7,553 over the following sessions, it will confirm a structural bottom at 200 SMA.

Asset Recap

As of market close on 9 November, among EBC major products, Coherent shares led gains, triggered by stellar fiscal Q1 2027 earnings and guidance that raised full-year expectations for AI infrastructure demand.

Brent crude tumbled more than $7 a barrel to a multi-week low following Trump's remarks dialling back the threat of fresh US strikes on Iran. Bur he said that some of the Gulf allies could still face Iranian aggression.

Wall Street views AI dip as overdone: Morgan Stanley and UBS report that last week's market rout was an overreaction, citing low risks of aggressive data centre regulation.

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EBC Financial Group Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC Global Financial Collaboration or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

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