Stocks rally and recover more of last week's losses as oil prices swing lower

U.S. stocks rallied Monday as investors clawed back part of last week’s losses, helped by a drop in oil prices. The S&P 500 rose 1.1% and was on track for a second straight day of gains after earlier concerns that Democratic victories in U.S. midterms could slow construction of AI data centers. The Dow gained 606 points, or 1.2%, by 9:35 a.m. Eastern, while the Nasdaq climbed 1.4%. Brent crude fell 5.5% to $92.96 a barrel after Trump said renewed strikes against Iran are “highly unlikely” if negotiations show progress, though Secretary of State Marco Rubio criticized Iranian demands as “outrageous and ridiculous.” Company results supported sentiment, including Constellation Energy.