Wall Street Posts Its Best Day Since April as Oil Sinks; Gulf Markets Rally and Muscat Slips Ahead of US CPI - Modern Money Experts

Wall Street Posts Its Best Day Since April as Oil Sinks; Gulf Markets Rally and Muscat Slips Ahead of US CPI

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Wall Street Posts Its Best Day Since April as Oil Sinks; Gulf Markets Rally and Muscat Slips Ahead of US CPI

Takeaway: US stocks bounced hard on Monday. The S&P 500 rose 2.35% to 7,549.94 — its best day since April — the Nasdaq 2.74% to 25,253.14 and the Dow 1,104.02 points (+2.15%) to 52,389.75, as chip stocks recovered and Brent fell 5.85% to settle at $92.57 after President Trump played down new strikes on Iran. Nvidia was the notable exception, falling 4.27% as its board opened an investigation involving CEO Jensen Huang. December COMEX gold settled at $4,114.50 (+0.97%) and the 10-year Treasury yield ended at 4.88%. Asia extended the rally on Tuesday, led by Seoul and Tokyo. The Gulf rose almost across the board on Monday: TASI +0.90% to 10,106.72, Qatar +0.93%, Dubai +1.03% and Abu Dhabi +0.96%. Muscat was the exception: the MSX 30 fell 0.42% to 7,233.94. Today’s main event is the US October CPI at 17:30 Muscat time, with markets pricing roughly an 82–84% chance of a December Fed rate hike.

What happened

1) Wall Street Monday: broad rebound, Nvidia sits it out

  • Close (AP; Motley Fool): Dow 52,389.75 (+1,104.02 / +2.15%); S&P 500 7,549.94 (+173.08 / +2.35%); Nasdaq Composite 25,253.14 (+673.71 / +2.74%); Russell 2000 2,840.81 (+3.15%). It was the S&P 500’s biggest one-day gain since 8 April (Portfolio Terminal; Investing.com).
  • Chips led: the Philadelphia Semiconductor Index rose 6.85% (Bolsa al Día), with AMD up about 13% and Broadcom 8.8% (Investing.com). All 11 S&P 500 sectors finished higher, led by industrials and technology. The VIX volatility index fell 22.3% to 19.92 (WiseView; The Edge).
  • Nvidia −4.27% to $178.67, its lowest close since 7 April (Bolsa al Día; Investing.com). CEO Jensen Huang admitted on Sunday to an extramarital affair, and the board opened an independent investigation after reports that he had been the target of a foreign intelligence effort (CNBC; AFP).
  • After the bell: The Trade Desk reported third-quarter revenue of $736 million against a consensus near $651 million and guided fourth-quarter revenue to at least $755 million; the shares jumped as much as 26% after hours before giving back most of the gain (Stocktwits via Asianet Newsable; Yahoo Finance quote). Take-Two said fiscal second-quarter net bookings fell 18% to $1.60 billion, reiterated its full-year outlook of $8.0–8.2 billion and confirmed Grand Theft Auto VI for 19 November (company release; SEC filing).

2) Rates, the dollar and the Fed

  • Treasuries: the 10-year yield closed at 4.88% (+2 bp) and the 2-year at 4.56% (+5 bp) (US Treasury par yields via BondStats; Bolsa al Día).
  • Dollar: the dollar index eased about 0.6% to near 101.7 as oil fell (The Edge).
  • FedWatch: markets priced an 82–84% chance of a quarter-point hike at the 8–9 December FOMC meeting, from a current range of 3.75–4.00% (CME FedWatch via Investing.com; fed funds futures via Frenzy Capital). Chicago Fed President Austan Goolsbee said the AI data-centre build-out is “starting to look more just like old-fashioned demand overheating” (CNBC).

3) Oil and gold

  • Oil: Brent settled down $5.75 (−5.85%) at $92.57, its lowest since late August, and WTI down $3.98 (−4.38%) at $86.85; both kept falling after the settlement (Reuters via The Business Times; exchange settlements via The Edge). In Asia on Tuesday Brent was near $91.63 (−1.0%) after Trump said there was “positive momentum” following a meeting with Qatar’s prime minister (AFP). Regional risk has not disappeared: Yemen’s Houthis claimed an attack on Saudi Aramco’s office in Riyadh on Sunday (Reuters).
  • Gold: December COMEX gold settled at $4,114.50, up 0.97%, as the dollar softened (The Edge; MarketWatch).

4) Tuesday Asia and US futures

  • Seoul’s Kospi rose more than 4% (AFP: +4.1% to 5,223.87 at the break), briefly triggering a “sidecar” curb on programme buying (CNBC). Japan’s Nikkei 225 gained about 2.9% to 60,475.78, Taiwan’s Taiex about 3.5% and Hong Kong’s Hang Seng 0.4% (AFP; CNBC).
  • US index futures were close to flat ahead of CPI, with Nasdaq 100 futures up about 0.2% (CNBC; Investing.com).

5) Gulf equities: Monday 9 November — broadly higher

  • TASI 10,106.72 (+89.80 / +0.90%) on SAR 4.27 billion, with 179 stocks up and 80 down (Arab News; SPA via Ajel). Anaam Holding rose 9.95% to SAR 11.93, Fitaihi 7.77% and Al-Babtain 7.44%; Almunajem Foods fell 9.13% and Saudi Paper Manufacturing 5.95%. The MSCI Tadawul 30 gained 1.02% to 1,375.19, while Nomu slipped 0.25% to 21,686.57 (Arab News).
  • Qatar (QE) 10,107.88 (+93.05 / +0.93%) (QNA; The Edge) on QAR 569.1 million, with 43 risers and 10 fallers (The Edge).
  • Kuwait: All-Share 8,524.50 (+0.28%), Premier Market 8,966.65 (+0.23%) and Main Market 8,525.79 (+0.58%), on KD 80.9 million (KUNA via QNA; Markets).
  • UAE and Bahrain: in their first session since Friday, DFM 6,087.47 (+1.03%) and ADX 9,483.09 (+0.96%); Bahrain All Share 1,821.56 (+0.01%) (The Edge).

6) Muscat Stock Exchange: Monday 9 November

  • MSX 30 at 7,233.94 (−30.29 / −0.42%) — the only decliner among the region’s main indices (The Edge). Value traded fell 19.81% to OMR 27.42 million and market capitalisation 0.30% to about OMR 38.60 billion (U Capital; ONA). Volume fell 17.41% to 86.88 million shares (Al-Amssar).
  • Breadth and sectors: 14 stocks rose, 30 fell and 18 were unchanged. All sector indices were lower: services −0.61%, financials −0.38%, industrials −0.08%; the Shariah index fell 0.31% (Oman Daily; Al-Amssar).
  • Foreign flows: non-Omani investors were net sellers of OMR 1.13 million (buying OMR 2.86 million, selling OMR 3.99 million), led by foreign investors (−OMR 0.72 million) and GCC investors (−OMR 0.42 million); Omani investors were net buyers of OMR 1.13 million (U Capital; ONA).
  • Top gainers: Takaful Oman +3.51% to 59 baisa, Musandam Power +2% to 335 baisa, Muscat Gases +1.54% to 132 baisa and Dhofar Generating +1.3% to 76 baisa (Oman Daily; Al-Amssar).
  • Top losers: Salalah Port Services −9.89% to 428 baisa, Al Jazeera Services −9.8% to 567 baisa, Raysut Cement −7.7% to 143 baisa, National Finance −4.5% to 209 baisa and National Gas −3.31% to 146 baisa (Oman Daily; Al-Amssar; StockAnalysis).
  • Value leaders: Omantel about OMR 6.7 million (nearly a quarter of the session’s value), Bank Muscat OMR 6.3 million, OQ Gas Networks OMR 3.6 million and OQ Base Industries OMR 2.3 million; Sohar International Bank led by volume with 23.91 million shares (Oman Daily; Al-Amssar).
  • Omani company news: Salalah Port Services has dropped close to the 10% daily limit twice in its last three sessions (5 and 9 November) since disclosing that the government will not renew its Port of Salalah concessions when they expire on 1 November 2028 (MSX disclosure via World Ports Organization; WorldCargo News). Raysut Cement’s one-for-one rights issue — 200 million new shares at 102 baisa, including 2 baisa of issue costs, to double issued capital to OMR 40 million — opens for subscription on 12 November and runs to 22 November (Mubasher; Times of Oman). Omantel holds an investor session on its nine-month results on 18 November (Mubasher).

Why it matters for Gulf + US-focused Arab traders

  • Oil is now helping the inflation story. A drop of almost 6% in Brent in one session eases energy-price pressure — but for Gulf exporters, lower crude is a mixed signal for budgets and sentiment.
  • The rebound faces an immediate test. With hike odds above 80%, a hotter-than-expected CPI could reprice yields and the dollar quickly; a softer one could extend Monday’s relief. Both outcomes are possible, and the first move after a data release is not always the lasting one.
  • Muscat is trading on its own stories. While the rest of the Gulf rose, the MSX fell on company-specific pressure (Salalah Port Services, Raysut Cement) and continued non-Omani net selling, on lower turnover.

Today and this week (Muscat/UAE time, GMT+4)

  • Tue 10 Nov: US October CPI 17:30 (consensus: headline +0.3% m/m, core +0.2% m/m; September was +0.6% and +0.3%) (Dow Jones via CNBC; Bloomberg via Kiplinger). No year-on-year rate will be published this month because October 2025 prices were not collected during the government shutdown (CNBC; Bolsa al Día). Also: US 10-year note auction 22:00; CoreWeave results after the US close; Saudi September industrial production (GASTAT); Fed Governor Waller speaks in London.
  • Wed 11 Nov: Veterans Day — US bond market closed, stocks trade normally.
  • Thu 12 Nov: US jobless claims 17:30; Cisco and Applied Materials results after the US close. Raysut Cement’s rights subscription opens.
  • Fri 13 Nov: US October PPI 17:30.

Short educational angle: how to read a CPI report

CPI day can move every market in this report within minutes, so it helps to know what to look at first. Headline versus core: headline CPI includes food and energy; core excludes them because they swing sharply from month to month. Central banks watch core more closely as a guide to underlying inflation. Monthly versus annual: the month-on-month change is the freshest signal; the year-on-year rate smooths it out. This month is unusual: there will be no official annual rate, because prices were not collected in October 2025, so the monthly figures carry even more weight. The surprise matters more than the level: markets have already priced the consensus (+0.3% headline, +0.2% core). A miss of just 0.1 percentage point in core can shift rate expectations, because it compounds over a year. Look inside: shelter (rents and owners’ equivalent rent) is the largest services component and tends to move slowly, while energy can flip the headline number on its own. Finally, check the reaction in the 2-year yield and FedWatch odds — they show how the market has interpreted the data. This is an educational explanation only, not a forecast or a trade recommendation.

Sources

  1. AP — How major US stock indexes fared Monday 11/9/2026. apnews.com
  2. The Motley Fool — Stock Market Today, Nov. 9. fool.com
  3. Portfolio Terminal — Stock market close, Nov 9, 2026. portfolio-terminal.com
  4. Bolsa al Día — Stock Market Today, Nov. 9 and Nov. 10, 2026. bolsaaldia.com · bolsaaldia.com
  5. Investing.com via Yahoo Finance — U.S. stock futures steady after tech-led rebound; CPI in focus. finance.yahoo.com
  6. CNBC — Stock market today: live updates, 9 Nov 2026. cnbc.com
  7. WiseView — S&P 500 jumps as chip stocks rebound, Nvidia a notable laggard. wiseview.ai
  8. Asianet Newsable (Stocktwits) — TTD stock spikes after hours on Q3 beat. newsable.asianetnews.com
  9. StockTitan (SEC 8-K) — Take-Two Q2 net bookings fall 18% to $1.6B. stocktitan.net
  10. BondStats — 10-year ends at 4.88%, 9 Nov 2026. bondstats.org
  11. Frenzy Capital — December 2026 FOMC rate probabilities. frenzycap.com
  12. The Business Times (Reuters) — Oil down more than US$7 a barrel in post-settlement trade. businesstimes.com.sg
  13. The Edge — Commodities Wrap, 9 November 2026. edgeconsultancykw.com
  14. AFP — Tech leads Asian stock rally as traders track Wall St rebound. afp.com
  15. Arab News — Closing Bell: Saudi Arabia’s Tadawul rises 0.9% to close at 10,107. arabnews.com
  16. Ajel (SPA) — Saudi stock index closes up at 10,106.72 points. english.ajel.sa
  17. The Edge — Middle East Market Wrap, 9 November 2026. edgeconsultancykw.com
  18. QNA — QSE index closes higher; Boursa Kuwait closes higher (KUNA). qna.org.qa
  19. U Capital — Daily Markets Close, Nov 09 2026. u-capital.net
  20. ONA via Fana News — MSX drops 30 points. fananews.com
  21. Oman Daily — Muscat bourse closes lower at 7,233. omandaily.om
  22. Al-Amssar — Blue chips weigh on Muscat index. alamssar.com
  23. World Ports Organization — Oman ends Maersk-backed Salalah port concession in 2028. worldports.org
  24. Zawya — Raysut Cement plans rights issue to restore capital. zawya.com

Disclaimer: This article is for educational and informational purposes only and does not constitute investment advice, a trading recommendation, or financial advice. Trading and investing involve a substantial risk of loss. Past performance does not guarantee future results. Do your own research and consult a licensed adviser where appropriate. Modern Money Experts (MMEC) is an educational brand.

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