[New York Stocks] Rise on Tech Rebound, Hopes for Increased Russian Diesel Supplies

Trump, Putin Agree to Increase Russian Diesel Supplies

U.S. stocks closed higher on October 9 (local time), as a rebound in technology shares was boosted by hopes for increased Russian diesel supplies.

The Dow Jones Industrial Average rose 423.31 points, or 0.83%, from the previous session to close at 51,654.95.

The S&P 500 rose 46.18 points, or 0.59%, to 7,811.54, while the Nasdaq Composite gained 172.83 points, or 0.64%, to close at 27,366.17.

Wall Street sign in New York. Courtesy of Pixabay.

Technology shares, which fell the previous day amid concerns about the growth of the artificial intelligence (AI) industry, rebounded and led the broader market higher.

Palo Alto Networks rose 5.09% and CrowdStrike gained 4.57%. Major technology stocks including Microsoft, up 2.38%, and Amazon, up 3.29%, also advanced, supporting the gains in the indexes.

Expectations for easing military tensions in the Middle East also buoyed investor sentiment. The previous day, U.S. President Donald Trump said the United States was holding productive discussions with Iran and would not attack the country before the midterm elections on November 3.

Trump also announced that day that he had reached an agreement with Russian President Vladimir Putin to increase diesel supplies. International oil prices initially fell on hopes for easing tensions in the Middle East, but ended slightly higher as concerns grew over potential disruptions to crude oil production in the U.S. Gulf of Mexico.

West Texas Intermediate (WTI) crude futures for November delivery settled at $91.85 a barrel on the New York Mercantile Exchange, up $0.36, or 0.39%, from the previous session.

Brent crude futures for December delivery, the global benchmark, settled at $104.72 a barrel, up $0.44, or 0.42%, from the previous session.

This content was produced with the assistance of AI translation services.