The U.S. stock market rallied Monday and recovered most of its big loss from last week as oil prices swung lower. The strength came even though Nvidia, one of Wall Street’s most influential stocks, sank.

The U.S. stock market is rallying and clawing back more of its big loss from last week as oil prices swing lower. The S&P rose 2.4% Monday and was on track for a second straight gain following a wipeout on worries that Democratic victories in the midterm elections could mean a slowdown in the construction of AI data centers. The Dow Jones Industrial Average climbed 1,100 points, and the Nasdaq composite rallied 2.6%. Brent crude's price dropped...

The U.S. stock market is rallying and clawing back more of its big loss from last week as oil prices swing lower. The S&P rose 2.4% Monday and was on track for a second straight gain following a wipeout on worries that Democratic victories in the midterm elections could mean a slowdown in the construction of AI data centers. The Dow Jones Industrial Average climbed 1,100 points, and the Nasdaq composite rallied 2.6%. Brent crude's price dropped...

ABC News tech reporter Mike Dobuski and ABC News contributor Darrell Blocker discuss allegations involving Nvidia CEO Jensen Huang and the company's internal probe.

Nvidia CEO Jensen Huang admits affair as company launches investigation into foreign spy claims . 2:12 . Now playing • Source: CNN

Nvidia shares declined after an investigation into whether CEO Jensen Huang had been targeted by a foreign intelligence effort put his future under scrutiny.

In his letter to Nvidia employees, Huang apologized for infidelity and said the company's board has launched an independent investigation.

Nvidia's investigation into whether Jensen Huang was the target of a "foreign intelligence effort" wiped as much as $360 billion from its market cap.

Attacks on Saudi Arabia and fresh incidents involving tankers in the Strait of Hormuz highlighted continuing risks to Middle Eastern oil supplies.

It depends on whether or not they sign a very strong agreement,” Trump told CNN. “The answer is highly unlikely [that] it’s going to be necessary… I would if necessary, but we hit them really hard.

US President Donald Trump cast doubt on renewed fighting with Iran, telling CNN it was "highly unlikely," ahead of a meeting with mediator Qatar's prime minister on Monday.Trump is scheduled to meet

"It depends on whether or not they sign a very strong agreement," Trump told CNN in a phone interview. "The answer is, highly unlikely it's going to be necessary." Trump had hinted at renewing attacks on Iran ​after ⁠last week's US midterm elections,