Business · Markets · 5 hrs ago
US stocks rise as oil falls on hopes for Iran diplomacy
Wall Street’s main stock indexes opened higher on Monday after falling the previous Friday.
Investors reacted to hopes that diplomatic efforts could help end the conflict in the Middle East.
The United States and Iran are seeking diplomatic paths, according to reports cited in coverage of the market move.
Oil prices fell by more than 6%, with US benchmark West Texas Intermediate at $97.21 a barrel and Brent at $106.06.
The Nasdaq had just recorded its worst month in more than a year, adding context to the rebound.
Geopolitical uncertainty and US midterm elections could keep markets volatile, an analyst said.
Mexico’s stock exchanges were closed for the Day of the Dead holiday.
US stocks opened higher on Nov. 2 as hopes for diplomacy with Iran helped push oil prices lower.
The Dow Jones rose 1.06% to 52,318.66 points, while the Nasdaq gained 0.84% and the S&P 500 advanced 0.58%.
Oil fell more than 6% after reports that the United States and Iran were seeking diplomatic ways to end the conflict in the Middle East.
European stock markets also traded broadly higher.
- Who
- US stock markets and oil traders.
- What
- US stocks rose as oil prices fell. The moves followed hopes for renewed diplomacy involving Iran.
- When
- Nov. 2, 2026.
- Where
- Wall Street and international oil markets.
- Why
- Reports said the United States and Iran were seeking diplomatic ways to end the conflict in the Middle East.
This story does not have two clearly opposing sides.
Oil fell more than 6% amid reports that the United States and Iran were seeking diplomatic ways to end the conflict.
US stocks opened higher, with the Dow Jones leading the gains.
- Dow Jones
- Rose 1.06% to 52,318.66 points
- Nasdaq
- Rose 0.84% to 25,650.41 points
- S&P 500
- Rose 0.58% to 7,623.78 points
- WTI oil
- Fell 6.64% to $97.21 a barrel
- Brent oil
- Fell 6.50% to $106.06 a barrel
2 sources
What people are saying
Low oil prices are providing some relief this morning amid hopes for a resumption of diplomacy with Iran, but geopolitical uncertainty and the midterm elections could or should keep volatility elevated