Dow Jumps 2.91% as Brent Slides 7.77% and Gold Climbs 3.73%
Dow gains 2.91% to 53,295.24, S&P 500 rises 1.76%, Brent drops 7.77% to $95.55 and gold climbs 3.73% to $4,065.26 in a sharp Wednesday session.
US stocks surged on Wednesday afternoon in New York while oil dropped sharply and gold jumped, a rare three-way move that pushed several market alarms at once. The Dow Jones Industrial Average was up 2.91% at 53,295.24 at 18:37 GMT (01:37 WIB Thursday), a gain of 1,508.52 points from the previous close of 51,786.72.
The broader market followed. The S&P 500 rose 1.76% to 7,702.21, and the Nasdaq Composite gained 1.9% to 25,852.95. The Russell 2000 small-cap index added 1.55% to 2,856.07, while Canada's S&P/TSX advanced 2.04% to 36,255.51 and Brazil's Bovespa rose 1.26% to 167,615.22.
Oil falls on diplomacy hopes
The sharpest move came in crude. Brent fell 7.77% to $95.55 a barrel from $103.60, and WTI dropped 7.62% to $88.77 from $96.09. The slide came as diplomacy around the Iran war offered markets some hope, a sharp turn from earlier in the day, when supply risks around the Strait of Hormuz had lifted prices.
Energy shares were among the clear losers. ExxonMobil fell 5.31% to $168.03, making it one of the weakest names on the NYSE board. Oracle, by contrast, gained 5.85% to $126.19, while Eaton rose 7% to $391.70 and GE Vernova added 6.49% to $918.20.
Gold, silver and crypto rally
Precious metals moved sharply higher. Gold rose 3.73% to $4,065.26 an ounce, and silver climbed 5% to $52.24. Natural gas gained 3.14% to $2.986 per MMBtu, and copper edged up 0.31% to $6.422 per pound.
Digital assets joined the advance. Bitcoin rose 3.91% to $80,363, and Ethereum jumped 6.68% to $2,423.71. Among crypto-linked equities, Coinbase gained 5.53% and Strategy rose 3.72%. AppLovin climbed 7.28% to $245.51 ahead of its after-the-close earnings report scheduled for 4 November.
Rates, volatility and the dollar
The US 10-year yield eased to 4.904% from 4.952%. The VIX volatility gauge fell 18.48% to 16.98 from 20.83. The Dollar Index slipped 0.35% to 101.511, while EUR/USD rose 0.3% to 1.1225 and GBP/USD gained 0.4% to 1.3463. USD/JPY was little changed, down 0.13% at 158.42.
The session came a day after the US midterm elections, with election results dominating the news flow on Wednesday.
Europe and Asia earlier in the day
European markets closed higher before Wall Street's advance. The DAX rose 2.22% to 26,437.67, the CAC 40 gained 1.97% to 8,177.89, the Euro STOXX 50 added 1.97% to 6,265.71 and London's FTSE 100 climbed 1.79% to 10,829.21.
Asia was mixed. Shanghai finished up 2.16% at 3,686.17 and the Hang Seng rose 1.67% to 23,919.5, while Tokyo's Nikkei 225 fell 1.42% to 62,188.63. Jakarta's IHSG closed 0.32% higher at 4,919.77, and the LQ45 gained 0.8% to 501.24. The rupiah traded around 18,121.4 per dollar, down 0.04% on the day.
What to watch next
Attention turns to Thursday's earnings calendar. Before the US open, ConocoPhillips, Duke Energy, Southern Company and Verisk Analytics are due to report. After the close, Airbnb, Microchip Technology, Monster Beverage, Simon Property Group and Atlassian are scheduled, and Arm Holdings is also on the calendar for the same date. Charter Communications follows on Friday morning.
Oil will remain the focus for cross-asset traders. A move of this size in Brent and WTI in one session leaves the next crude settlement, along with any fresh news on Iran-related diplomacy and the Strait of Hormuz, as the key input for energy shares, inflation-sensitive yields and the gold price.
Markets at a glance
| Market | Last | Change | % Change |
|---|---|---|---|
| Dow Jones | 53,295.24 | +1,508.52 | +2.91% |
| S&P 500 | 7,702.21 | +133.29 | +1.76% |
| Nasdaq | 25,852.95 | +480.94 | +1.90% |
| Russell 2000 | 2,856.07 | +43.62 | +1.55% |
| S&P/TSX | 36,255.51 | +723.23 | +2.04% |
| Bovespa | 167,615 | +2,086 | +1.26% |
| USD/IDR | 18,121 | −6 | −0.04% |
| Gold (spot) | 4,065.26 | +146.06 | +3.73% |
Data as of 5 Nov 2026, 01:38 WIB (18:38 GMT). Source: JournalArta Markets (Yahoo Finance, Twelve Data); some exchange data may be delayed up to 15 minutes. Follow live prices on JournalArta Markets. This article is for information only and is not investment advice.
