{
  "id": 19013716,
  "title": "Live: Wall Street lifts on AI rebound, ASX set to gain",
  "url": "https://urgent.news/2026/11/08/live-wall-street-lifts-on-ai-rebound-asx-set-to-gain",
  "topic": "ai",
  "section": "AI",
  "published": "2026-11-08T20:05:17.000Z",
  "source": {
    "name": "ABC News AU",
    "slug": "abc-news-au",
    "url": "https://www.abc.net.au/news/2026-11-09/asx-markets-business-live-news/107361534"
  },
  "original_language": "en",
  "account": "On Friday, Wall Street experienced a slight rebound as investors turned their attention towards AI stocks. However, the market still suffered a near 3% decline over the week, leaving stocks slightly underwhelming and a trillion dollars lighter. The S&P 500 and the broader market benchmark, the Dow Jones Industrial Average, both saw gains despite the overall market downturn. In contrast, the Japanese market witnessed a more significant decline of over 9%, while China's shares managed a 1.7% rise. The ASX, on the other hand, saw a 1.3% increase after a week filled with volatility.\n\nLooking ahead, the ASX 200 futures closed on Saturday morning indicating a marginal gain of around 0.2%. In the US, AI-related stocks, particularly Nvidia, performed strongly, with the semiconductor index gaining 4.2% following a massive one-day drop since April 2025. Nvidia surged nearly 3% after hitting its lowest point since January 2025 due to the emergence of low-cost Chinese AI model DeepSeek. Other major chipmakers, including AMD, Intel, and Micron Technology, also reported gains ranging from 5% to 11%. Tesla and SpaceX experienced gains of 4% and nearly 9% respectively, driven by losses earlier in the week.\n\nThe AI industry's growth, however, is not without its challenges. Disruption may arise from the transition from Republican-led to Democratic-led governments at various levels, causing uncertainty among investors. Economic data has also played a role in stabilizing the market, with stronger-than-expected jobs data showing non-farm payrolls growing by 165,000 in October, surpassing expectations. The unemployment rate held steady at 4.1%, which kept a rate hike by the Federal Reserve in December on the table and contributed to the US dollar's rise. This, in turn, put downward pressure on the Australian dollar, which finished the week at its lowest level since March.\n\nGold prices experienced a slight decline (-0.1%) amid higher interest rates and a stronger US dollar, but it managed to recover and close above $4,000/ounce for the week. Oil prices, however, remained stable, with Brent crude futures inching higher by just 3 US cents per barrel. Copper prices, on the other hand, continued to fall to their lowest level since July due to concerns over the pace of data center expansion in the US and globally.",
  "summary": "Wall Street closed the week on a positive note with renewed buying of AI-related stocks, while the ASX is priced for a marginal gain. Follow the day's events and insights from our business reporters on the ABC News live markets blog.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}