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US stocks rally, recover most of earlier losses
U.S. stocks rallied and recovered most of their big loss from last week as oil prices swung lower. The S&P 500 jumped 2.3% Monday for a second straight gain following a wipeout on worries that Democratic victories in the U.S. midterm elections could lead to a slowdown in the construction of AI data centers.
The best day for the index since April has it sitting just 3.4% below its record set last month. The Dow Jones Industrial Average leaped 1,104 points, and the Nasdaq composite rose 2.7%. Stocks broadly got a lift from a 5.8% drop for Brent oil's price.
Trump: FBI is looking at Nvidia CEO affair
President Donald Trump says the FBI is investigating Nvidia CEO Jensen Huang's affair with an alleged Chinese government agent. But Trump says he doesn't think the executive who has helped to develop artificial intelligence has a reason to worry.
"I know the FBI is looking into it in terms of something else, and I think that he'll be in good shape," Trump said Monday at a White House briefing. The president called Huang a "very honorable man." He said Huang told him "he had absolutely no idea that the person in question was a spy."
Botswana will increase stake in diamond firm
Botswana's president says that his diamond-rich southern African country will double its stake in De Beers to 30% under a proposed deal by a consortium to buy Anglo American's shares. President Duma Boko said in a speech in Parliament on Monday that the move would make Botswana the biggest single shareholder in De Beers.
Boko said Botswana endorsed the Global Diamond Consortium of investors as the proposed buyer. De Beers is the world's leading diamond company. Anglo American put its 85% stake up for sale in 2024 because of a wider restructuring and a downturn in the diamond market.
France blames Iran for last month's cyberattack
France has blamed Iran for a cyberattack on supermarket fridges last month. The French Foreign Ministry summoned the Iranian ambassador on Monday. The attack on Oct. 12 sent refrigerator temperatures soaring, affecting about 700 of the country's 10,000 supermarkets.
Paris prosecutors said investigators found that Iran's paramilitary Revolutionary Guard was behind the large-scale cyberattack. The ministry condemned the attacks as unacceptable.
Paraguayan teachers demand pension security
Thousands of public schoolteachers went on strike in Paraguay and took to the streets of several cities following the collapse of a major bank that resulted in the removal of the nation's president last week.
Silvio Piris, the president of the Federation of Paraguayan Educators said Monday that teachers in Paraguay are concerned over the fate of about $60 million in pensions funds that had been deposited in Ueno, the bank that was intervened by Paraguay's government last week.
Senate advances large energy legislation
The Senate is moving forward with bipartisan legislation to speed up permitting for data centers and infrastructure projects. Senators voted 73-25 Monday to formally consider the legislation.
The bill aims to shorten the timeline for starting energy projects, including clean energy and fossil fuels. Trump supports the bill, calling it a win for U.S. energy independence. Environmental groups oppose it, citing concerns about fossil fuel development and weakened safeguards. Sponsors added amendments to ensure tribal consultation and strengthened opportunities for states to weigh in.