Global markets saw a rally on November 1, 2026, as optimism around diplomatic efforts to resolve the conflict in Iran drove oil prices lower. West Texas Intermediate crude dropped below $100 per barrel after both Washington and Tehran indicated a willingness to engage in talks. The decline in oil prices helped ease concerns over inflation, boosting both stocks and bonds.
The S&P 500 rebounded after its sharpest drop since June, while long-term Treasuries led gains in the bond market. The shift in sentiment was largely attributed to the potential easing of geopolitical tensions, which typically puts downward pressure on oil prices.
In corporate news, Anthropic PBC reported a twelve-fold increase in quarterly revenue, announcing plans to invest over $895 billion in the coming years. Meanwhile, Apple Inc. saw its shares decline ahead of its upcoming earnings release.