Stock Market Midday, Nov. 2: Stocks Rally as Oil Prices Tumble on Diplomatic Hopes

As of 11:31 AM ET, the Dow Jones Industrial Average (DJINDICES:^DJI) is up 1.05% to 52,314, the Nasdaq Composite (NASDAQINDEX:^IXIC) has climbed 0.76% to 25,631, and the S&P 500 (SNPINDEX:^GSPC) is trading 0.64% higher at 7,629 as risk appetite returns to Wall Street. Gold is up 1.97% to $3,975.80, and the 10-Year Treasury yield has slipped 0.04% to 4.94%, while the consumer cyclical sector is today's top gainer, with losses in real estate and technology. Amazon.com, Inc. shares are rallying more than 4% as investors reassess record cloud growth, while Oracle (NYSE:ORCL) has fallen 6.2% following a $20 billion fundraising announcement. ExxonMobil is trading 2.2% lower as crude prices tumble, while Mohawk Industries, Inc. has jumped 7.67% on a new share buyback plan.

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