The US stock market is rising and recovering some of last week’s sell-off that was led by the tech and AI industries.
asserted
that → rise → industries
The S&P 500 climbed 0.6 per cent, coming off its third straight losing week, and pulled within 2.5 per cent of its all-time high.
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S&P → climb → high
The Australian sharemarket is set to jump, with futures pointing to a rise of 70 points, or 0.8 per cent, at the open.
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futures → set → open
The ASX fell 0.6 per cent on Monday.
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ASX → fall → Monday
The Australian dollar was trading at US70.11¢ at 5.18am AEDT.
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dollar → trade → AEDT
The Reserve Bank announces its interest rates decision at 2.30pm AEDT, with a rise tipped.
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rise → announce → AEDT
Stocks got a lift from sharp drops for oil prices, which headed back down in their latest yo-yo move on uncertainty about when the war with Iran will allow the global industry to return to normal.
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industry → get → normal
The price for a barrel of Brent crude, the international standard, fell 7.4 per cent to $US105.03.
The price for the most actively traded contract in the Brent market has been veering between roughly $US70 and $US120 per barrel since just before the war began, and it’s been quick to reverse direction.
So have stocks in the artificial-intelligence industry, which have been shaky for months amid criticism that they surged too high and are in a bubble.
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they → fall → bubble
Worries are growing that all the hundreds of billions of dollars Big Tech companies are pouring into AI data centres won’t yield
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companies → grow → centres
enough productivity and profit to make the investments worth it
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investments → make → ?
The latest profit reports from Alphabet and other Big Tech companies also showed how AI may be dragging on their own businesses.
uncertain
AI → show → businesses
Not only did Google’s parent company burn through more cash during the latest quarter, as measured by something called free cash flow, it also reported slower-than-expected growth in its search business, which raised worries about AI cannibalising its cash cow.
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AI → burn → cow
But Alphabet rose 1.3 per cent Monday, recovering some of its drop of more than 12 per cent from Thursday, which was its worst in history.
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which → rise → history
Other tech giants also held steadier.
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giants → hold → ?
Nvidia rose 1.1 per cent following its 4.2 per cent slide on Friday.
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Nvidia → rise → Friday
Outside of AI and tech, several stocks climbed after reporting better profits for the summer than analysts expected.
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analysts → climb → summer
Marriott International rallied 4.7 per cent after reporting strength for its hotels around the world.
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International → rally → world
Even in the Middle East, where the war has affected its business, CEO Anthony Capuano said that “trends improved meaningfully” from the spring.
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trends → affect → spring
Idexx Laboratories leaped 19.4 per cent after likewise delivering stronger profit and revenue for the latest quarter than analysts expected.
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analysts → leap → quarter
The company, which sells diagnostic equipment and other products to veterinarians, also raised its forecasts for revenue and profit for the full year of 2026.
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which → sell → 2026
Expectations are high for all kinds of companies to continue to deliver big gains in profits as the U.S. economy keeps chugging along, even with high inflation and interest rates.
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economy → continue → inflation
A report on Monday said that growth for U.S. manufacturing was better last month than economists expected.
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economists → say → manufacturing
Perhaps just as importantly, a measure of inflation in the survey by the Institute for Supply Management showed prices were rising at a slower pace.
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prices → show → pace
Monday’s drop in oil prices, meanwhile, helped launch stocks of companies with big fuel bills.
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drop → launch → bills
United Airlines flew 6.5 per cent higher, Southwest Airlines climbed 4.4 per cent and cruise operator Carnival rose 5.5 per cent.
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Carnival → fly → ?
They helped offset a 7.3 per cent drop for Marvell Technology after it announced a deal to buy Lumentum, which sells lasers and other products that power the networks and infrastructure behind AI and cloud computing.
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that → help → AI
Marvell said it will give 4.5 of its shares for each Lumentum share, valuing it at roughly $US115 billion ($164 billion).
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it → say → billion
Lumentum’s shares dropped 12.8 per cent.
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shares → drop → ?
Apple was the single heaviest weight on the market and fell 1.5 per cent ahead of its profit report, which is scheduled to arrive after trading ends for the day.
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trading → fall → day
In stock markets abroad, indexes rose in Europe.
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indexes → rise → Europe
The swings were larger in Asia, where South Korea’s Kospi jumped 2.2 per cent on renewed strength for the tech giants that dominate its market.
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that → jump → market
In China, indexes rose 1.1 per cent in Shanghai and 0.4 per cent in Hong Kong to recover some of their steep recent losses.
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indexes → rise → losses
Stocks in Shanghai finished October more than 15 per cent below a peak reached in May.
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Stocks → finish → May
The People’s Bank of China said Monday that around 100 billion yuan ($21.4 billion) would be deployed under a new program could help support the market.
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deployed → say → market
The Aporia
