Update: US Equity Indexes Rise Amid Sinking Crude Oil, Treasury Yields

02:18 PM EST, 11/02/2026 (MT Newswires) -- (Updates with index/price moves and geopolitical news from the first paragraph.) US equity indexes rose as crude oil prices and mid-to-long-end government bond yields slumped after midday Monday. The Nasdaq fell 0.2% to 25,396.5, the S&P 500 rose 1% to 7,588.2, and the Dow Jones Industrial Average added 0.8% to 52,203.7. All sectors except three rose. Energy, healthcare, and technology declined. Consumer discretionary, materials, and financials topped the gainers. In geopolitical news, Iran's Foreign Minister Abbas Araghchi said talks with the United States are taking place via Qatari and Pakistani mediators to end the eight-month US-Israel war on Iran, Al Jazeera, a Middle Eastern broadcaster, reported. He added that Tehran is also ready for military confrontation. Meanwhile, President Donald Trump said the war on Iran will end "very soon, one way or the other", warning that Tehran will either make a deal or "the hammer" will come down, the news report said. The front-month West Texas Intermediate crude oil contract plummeted 7.7% to $96.09 per barrel, and global benchmark Brent plunged 7.8% to $104.72 per barrel. US Treasury yields were mixed, with the two-year little changed at 4.58%, the 10-year rate fell 3.9 basis points to 4.89%, and the 30-year dropped 4.9 basis points to 5.26%. Gold futures jumped 1.7% to $3,963.40, and silver futures advanced 2.8% to $50.67. In company news, Idexx Laboratories (IDXX) shares soared 20%, the top gainer on the S&P 500 and the Nasdaq, after reporting a jump in Q3 comparable earnings and revenue and raising its 2026 outlook. Marvell Technology (MRVL) has agreed to buy optical and photonic products maker Lumentum (LITE) in an all-stock deal worth about $115 billion, as the companies aim to create a leader in AI connectivity. Lumentum shares plunged nearly 18%, and Marvell slumped past 11%, the Nasdaq and S&P 500's worst performers. In economic news, the Institute for Supply Management's US manufacturing index rose to 55.5 in October from 54.5 in September, versus expectations for no change in a Bloomberg-compiled survey. The index has been above 50 in each of the first 10 months of 2026, despite the conflict with Iran, the uncertain status of the Strait of Hormuz, and resulting energy price volatility, according to a Jefferies note. "The report shows robust manufacturing activity, but the comments show widespread concerns about prices due to a host of factors." The S&P Global US manufacturing index for October was revised down to 54.9 from a flash reading of 56.0, compared with expectations for no revision in a survey compiled by Bloomberg. The October index now stands below 55.9 reported in September, indicating a slower pace of expansion. US construction spending fell 1.9% in September, down from the 0.3% increase expected in a Bloomberg survey and after a 2.0% rise in August.