Stock Market Today: Stocks Rise as Tech Recovers, Oil Stays Above $100 – Eurasia Business News
By William Collins, consultant in stock markets – Eurasia Business News, October 9, 2026. Article no 3204
U.S. stocks finished higher on Friday, October 9, as technology shares recovered from Thursday’s selloff and investors welcomed developments aimed at easing energy-market tensions. The Dow Jones Industrial Average gained approximately 423 points, or 0.8%, while the S&P 500 and Nasdaq Composite each advanced 0.6%. The rebound brought the S&P 500 close to Tuesday’s record high.
President Donald Trump’s pledge not to attack Iran before the November midterm elections helped improve sentiment. His announcement of an agreement allowing additional Russian diesel supplies offered another potential source of relief. Nevertheless, continuing threats to Gulf shipping kept oil prices elevated, leaving investors balancing stronger equities against persistent inflation risks.
Technology Rebounds, but AI Concerns Persist
The Nasdaq’s recovery suggested investors were willing to buy technology shares after Thursday’s sharp decline. Nine of the S&P 500’s 11 sectors finished higher, including technology, although Nvidia slipped approximately 0.5%, according to the supplied closing figures.
Questions about artificial-intelligence investment remained visible in Australia, where Nvidia-backed Firmus Grid abandoned its planned initial public offering. The data-center company had sought an equity valuation of approximately $30.6 billion, nearly three times the $10.5 billion valuation achieved in an August fundraising round.
Firmus said market volatility meant the available IPO terms did not adequately reflect its business and growth outlook. It will instead pursue private funding. The cancellation illustrates greater investor scrutiny of AI financing, especially when rapidly rising valuations depend on substantial future infrastructure development rather than established earnings.
It does not establish that AI demand is collapsing. Instead, the episode highlights a distinction between confidence in the technology and willingness to finance every project at its proposed valuation.
Brent and WTI Oil Prices on October 9
Brent crude finished at $104.72 a barrel in the supplied closing market report. Further attacks on vessels near the Strait of Hormuz kept a geopolitical risk premium embedded in prices, despite Trump’s reassurance about U.S. military action.
Prices fluctuated substantially during Friday’s trading. Earlier reporting placed West Texas Intermediate crude at $91.65 a barrel, up 0.2%, and Brent at $104.35, up 0.1%. Those are intraday quotations, not confirmed settlement prices; the available evidence does not establish WTI’s final close.
Trump’s Russian diesel agreement could relieve refined-fuel shortages, but it does not directly restore disrupted crude production or guarantee safe shipping. Its impact therefore depends on actual deliveries and the evolution of Gulf security risks.
Treasury Yields and Dollar Remain Elevated
The benchmark 10-year Treasury yield ended at 5.243%, up 0.011 percentage point, according to the supplied closing figures. Market reporting likewise showed the yield increasing approximately one basis point to 5.24%. Even after retreating from Wednesday’s peaks, borrowing costs remained elevated.
The dollar was on course for a fourth consecutive weekly gain as expectations of tighter Federal Reserve policy supported demand for the currency. An intraday report placed the dollar index at 102.30, up 0.2%. The currency’s performance remained an important influence on commodity prices and international investors’ returns.
Could the Midterms Change Bond Markets?
Analyst Simon Ree highlighted that Treasury yields fell during the year following four of five midterm elections since 1962 in which the president’s party lost control of the House. Across those five episodes, the average decline was approximately 78 basis points.
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Ree suggested divided government could constrain new borrowing, reducing the premium investors demand to hold longer-term bonds. However, the sample is small and does not establish causation. The exception was 2022, when yields rose amid inflation and Federal Reserve tightening—conditions he described as relevant today.
Gold and Silver Prices According to Kitco
October 9 morning reports quoted spot gold near $4,184.80 per troy ounce, up 1.27%, and spot silver near $60.44, up 2.32%. These were early-session prices, not closing quotations.
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The metals recovered as the dollar, Treasury yields and oil eased earlier in the day. Later reversals in those markets underline why timestamped quotations matter: a morning rebound should not be presented as the final daily result.
Friday’s rally showed renewed resilience, but earnings, energy prices and borrowing costs remain central tests.
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© Copyright 2026 – Eurasia Business News. Article no. 3204
