World stocks edge up from six-month lows as oil falls, but Nvidia slide tests the mood
Asian markets rebounded strongly on Monday after last week's AI-led rout and Brent crude fell about 3%, but Nvidia shares dropped more than 4% before the US open over an internal probe involving its CEO.
Global equities climbed off six-month lows on Monday, 9 November, after a week of heavy selling in technology shares, Reuters reported. MSCI’s world index was up about 0.4%.
Asia leads the rebound
Japan’s Nikkei rose more than 2% and Taiwan’s benchmark gained around 5% after its steepest weekly drop in two decades. MSCI’s broadest index of Asia-Pacific shares outside Japan rose more than 1% after sliding 4.6% last week.
Nvidia and oil
Nvidia shares fell just over 4% in pre-market trading after an internal investigation into whether CEO Jensen Huang had been targeted by a foreign intelligence effort put his future at the company under scrutiny, according to Reuters.
Brent crude fell about 3% to roughly $95 a barrel and US WTI to about $88.37, after President Donald Trump said he was highly unlikely to order fresh attacks on Iran as long as talks to end the conflict progress. Trump was due to meet the prime minister of mediator Qatar on Monday.
Eyes on US inflation
Investors now await Tuesday’s US consumer price data. After Friday’s jobs report showed 165,000 new jobs in October, money markets price roughly an 80% chance of a quarter-point Federal Reserve rate hike in December. The 10-year Treasury yield was near 4.84%.
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