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Wall Street Mixed Despite Oil Plunge Amid AI Investment Concerns

Published : Nov 3, 2026 7:51 AM

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Here is the global market review.

Let us start with the New York stock market.

The three major U.S. stock indices closed mixed.

In particular, the Nasdaq fell by over 1%, and the S&P 500 dropped in the 0.5% range.

By sector, consumer discretionary and consumer staples showed strength driven by expectations of eased fuel cost burdens following the plunge in international oil prices. On the other hand, energy stocks fell by about 4%, and tech stocks dropped by over 2%, weighing down the indices.

Amid expectations of resumed negotiations between the United States and Iran, Brent crude plummeted over 7%, dropping to the $104 per barrel level.

As concerns over supply disruptions originating from the Middle East eased somewhat, inflation pressures also subsided.

In addition, the U.S. ISM manufacturing purchasing managers index for October came in at 55.5, continuing its expansion phase and easing concerns over an economic slowdown.

However, massive AI investment costs and financing burdens of big tech companies weighed on investor sentiment.

Oracle announced a $20 billion financing plan to expand its AI infrastructure, reigniting doubts over whether massive investments can translate into actual profits.

Next, let us look at the U.S. futures market that closed a short while ago.

U.S. stock index futures are searching for direction, weighed by a mix of expectations for eased inflation burdens from the oil price plunge and concerns over AI investment profitability.

In particular, Nasdaq 100 futures, which have a high weighting in tech stocks, are expected to react sensitively to financing burdens and earnings forecasts of AI-related companies.

Looking at the U.S. stock index futures, Dow futures rose 232 points, trading higher alone.

They finished trading at the 52,100 level.

Nasdaq 100 futures dropped sharply by 310 points, closing at the 28,200 level.

S&P 500 futures showed weakness, down 27 points, trading around the 7,500 level.

Russell 2000 futures finished trading at the 2,800 level.

Overnight, U.S. 10-year Treasury yields declined amid eased inflation concerns following the plunge in oil prices.

In the futures market as well, attention is focused on this week's employment data and the Federal Reserve's future monetary policy outlook.

The 10-year U.S. Treasury futures recorded 4.905%.

Also, in the commodity futures market, crude oil futures traded at the $96 per barrel level.

As expectations spread that the U.S. and Iran could continue diplomatic negotiations, concerns over crude oil supply disruptions eased somewhat.

However, volatility in international oil prices is likely to continue depending on future negotiation progress.

Lastly, let us review the trends of major U.S. stock futures by item.

As concerns over AI investment costs and profitability spread across semiconductor stocks overall, attention is also focused on the movement of Nvidia futures.

Nvidia futures finished lower by 1%.

This concludes our look at the CME futures market.