Wall Street Close: Dow Surges 3.03% as Brent Falls 8.22% and VIX Drops
Wall Street closed higher: Dow up 3.03%, S&P 500 up 1.58%, Nasdaq up 1.44% as Brent fell 8.22% and the VIX dropped to 16.78.
US stocks closed sharply higher on Wednesday, with the Dow Jones Industrial Average adding 1,569.4 points, or 3.03%, to 53,356.12. The S&P 500 rose 1.58% to 7,688.62 and the Nasdaq gained 1.44% to 25,736.51, in a session defined by a steep drop in oil and a retreat in market volatility.
Oil led the cross-asset moves. Brent fell 8.22% to $95.08 a barrel and US crude fell by a similar margin, as signs of diplomacy over the Iran war gave markets hope of a settlement. Cheaper energy fed through to rates: the 10-year Treasury yield eased to 4.89% from 4.95%.
Wall Street: broad gains, Dow out in front
The blue-chip index outpaced its peers by a wide margin, while the S&P 500 and the Nasdaq posted more moderate advances. Small caps joined in, with the Russell 2000 also finishing higher, so the advance was not confined to large companies.
The S&P 500 is now up 12.32% year to date, although it is still down 1.1% over the past month and sits below its 52-week high of 7,818.9. The Nasdaq remains further from its peak: it is 6.34% lower over one month, up 10.73% year to date, and below a 52-week high of 27,599.8.
The VIX volatility gauge dropped 19.44% to 16.78 from 20.83, a sign that demand for downside protection faded as stocks climbed. The dollar index slipped 0.34% to 101.52.
Single stocks: 3M up, CVS down
Among large NYSE names, 3M jumped 9.65% to $194.14, Lowe's added 7.17% and Uber rose 7.04%. On the Nasdaq, AppLovin gained 7.28%, Coinbase rose 5.53% and Strategy climbed 3.72%.
CVS Health was the weakest of the big movers, falling 11.66% to $80.75. The company said it plans to separate its pharmacy chain from its insurance and benefits business; the announcement did not include financial terms or a timeline.
Defence and industrial shares lagged the broader rally. Lockheed Martin fell 6.75% and Caterpillar dropped 5.86%. Shopify slid 8.74% and Keurig Dr Pepper lost 5.65%.
Rates, currencies, metals and crypto
The euro rose 0.37% to $1.1233 and sterling gained 0.47% to $1.3473, while the dollar eased against the yen to 158.43. The rupiah was little changed, with USD/IDR at 18,119 after a 0.09% move.
Gold edged up 0.19% to $4,065.5 an ounce. Silver was the standout in metals, posting a sharp gain, while copper added 0.2%.
Crypto rallied alongside equities. Bitcoin moved higher, and Ethereum outpaced it with a bigger percentage gain.
Europe and Asia set the tone
European markets finished strongly before Wall Street's close. Germany's DAX rose 2.22%, the CAC 40 gained 1.97% and the FTSE 100 added 1.79%.
Asia was mixed earlier in the day. Shanghai climbed 2.16% and the Hang Seng gained 1.67%, while Tokyo's Nikkei 225 fell 1.42%. Jakarta's IHSG closed 0.32% higher at 4,919.8, with the LQ45 up 0.8%. Canada's S&P/TSX surged 2.28%, and Brazil's Bovespa rose 1.21%.
What to watch next
Earnings stay in focus on Thursday. Airbnb, Microchip Technology, Monster Beverage, Simon Property Group and Atlassian are scheduled to report after the close, while ConocoPhillips, Duke Energy, Southern Company and Verisk Analytics report before the open. Arm Holdings is also on the calendar. Charter Communications follows on Friday morning.
Oil remains the key swing factor. Traders will track whether the diplomatic signals on the Iran war hold, and whether the Dow's sharp advance carries into the next session.
Markets at a glance
| Market | Last | Change | % Change |
|---|---|---|---|
| S&P 500 | 7,688.62 | +119.70 | +1.58% |
| Nasdaq | 25,736.51 | +364.50 | +1.44% |
| Dow Jones | 53,356.12 | +1,569.40 | +3.03% |
| VIX | 16.78 | −4.05 | −19.44% |
| US 10Y Yield | 4.894 | −0.058 | −1.17% |
| Gold (spot) | 4,065.53 | +7.51 | +0.19% |
| WTI | 88.54 | −7.55 | −7.86% |
| Bitcoin | 80,187 | +2,849 | +3.68% |
Data as of 5 Nov 2026, 04:15 WIB (21:15 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.
