U.S. stocks rebounded Monday as oil prices fell. By 11:30 a.m. Eastern, the S&P 500 was up 1.9 percent and the Nasdaq Composite had gained 2.2 percent. Brent crude dropped 4.3 percent to roughly $94 a barrel.
Rate hike bets build
The rebound came as traders weighed a stronger-than-expected jobs report. That report pushed the odds of a quarter-point Federal Reserve rate hike in December to roughly 80 percent. The Bureau of Labor Statistics is due to release October’s consumer price index the following day.
Nvidia shares slid during the session, even as the broader indexes climbed. Our own measurement showed the S&P 500 at 7,376.86 points at the close on 6 November, near its 31-day low.
Crypto liquidations mount
Bitcoin traded near $74,559, up 0.7 percent, after touching its lowest level in more than two months. CoinGlass showed $1.2 billion in crypto liquidations over 24 hours. Of that, $324 million came from bitcoin positions.
Bitcoin had rallied earlier from about $57,700 to $87,350 and had returned to prices last seen in early August. Traders are watching $74,400 as weekly chart support, with $76,040 the first upside hurdle.
Related: Bitcoin edges up as US stocks shrug off midterm jitters
Data: S&P Dow Jones Indices
