The Wall Street Wrap: November 10, 2026

A hot inflation report and talk of a half-point Fed hike push the 10-year yield back to 5%, while Nvidia's slide drags tech lower

Welcome to Wall Street Wrap, your quick end-of-day rundown of what moved US markets today, plus what's shaping global sentiment overnight.

MARKETS TODAY

US stocks slipped on Tuesday as a hotter-than-expected inflation report pushed Treasury yields sharply higher and Nvidia extended its two-day slide. The S&P 500 fell 0.38% to 7,520.93, the Dow Jones Industrial Average lost 0.30% to 52,231.89, a drop of about 158 points, and the Nasdaq Composite declined 0.74% to 25,065.874. The Nasdaq 100 slid 0.6% to 27,740.795, the Russell 2000 fell 0.6% to 2,823.747, and the VIX eased 2.26% to 19.47. Information technology was the weakest sector at 1.40%, while financials rose 0.49%, consumer discretionary 0.46%, and energy 0.32%. Charter Communications surged 10.611% and Take-Two gained 8.312%, while Nvidia dropped 5.527% and Moderna fell 6.755%.

ANALYTICAL VIEW

October consumer prices rose 0.4% from September, above the 0.3% forecast, and core prices gained 0.3% against a 0.2% forecast, with electricity up 0.9%. Annual figures were not published because of last year's government shutdown. Fed Governor Christopher Waller then said a half-point hike should be considered in December, and markets now fully price a December increase, with roughly a 12% chance of the larger move. A soft $42 billion 10-year auction, in which dealers were left holding 10% of the sale, the most since May, added to the pressure. The 10-year yield rose to 5.000%, the 2-year jumped by the most in a day since April 2025, and the 30-year reached 5.358%. A small-business survey showed 37% of firms plan to raise prices, the highest share since July 2022.

Nvidia did the rest of the damage. It fell 5.527% to 168.796 after dropping 4.3% on Monday, wiping out roughly $470 billion of value over two sessions, and Microsoft overtook it as the second most valuable company for the first time since June 2025. The Philadelphia semiconductor index fell by less, and CoreWeave and Nebius also slid before CoreWeave's report. Oil edged lower, with Brent briefly dipping below $90 for the first time since August, and gold fell 2.65% as yields and the dollar rose. One bond strategist said hikes could spill into 2027, while a Wall Street rates strategist called a December move the base case.

What could change the picture: Wednesday's earnings from Vylor and Corteva, Cisco and Applied Materials earnings later this week, Friday's producer price report, the Fed's December 8 to 9 meeting, any new development in the Nvidia board probe, US-Iran talks and shipping through the Strait of Hormuz, and Anthropic's IPO, set to price on November 18.

SECTOR PERFORMANCE

WINNERS & LOSERS

Top 5 Gainers (across S&P, Nasdaq, Dow):

• Charter Communications, Inc. (NASDAQ:CHTR): +10.611%
• Take-Two Interactive Software, Inc. (NASDAQ:TTWO): +8.312%
• Rocket Lab Corporation (NASDAQ:RKLB): +6.541%
• CVS Health Corporation (NYSE:CVS): +4.411%
• Akamai Technologies, Inc. (NASDAQ:AKAM): +4.285%

Top 5 Decliners:

• Skydance (NASDAQ:SKYD): -7.586%
• Moderna, Inc. (NASDAQ:MRNA): -6.755%
• First Solar, Inc. (NASDAQ:FSLR): -5.548%
• NVIDIA Corporation (NASDAQ:NVDA): -5.527%
• Lennar Corporation (NYSE:LEN): -5.372%

Note: Take-Two rose after its quarterly report ahead of the Grand Theft Auto VI launch, and Nvidia fell as its board's probe into its CEO widened and a report linked a network tied to the businesswoman at the center of it to large chip shipments to China.

AFTER-HOURS MOVERS

Gainers:

• NextNav Inc. (NASDAQ:NN), +8.10% after hours: Shares rose to $9.08 after third-quarter revenue of $1.58 million topped the $993,330 estimate and was up from $887,000 a year earlier. The loss of $0.04 a share was narrower than the $0.12 loss expected, and net loss was $4.2 million. The company ended the quarter with $290.9 million of cash and investments and no debt. The stock had closed 5.83% lower at $8.40.
• Freenome Holdings, Inc. (NASDAQ:FRNM), +5.76% after hours: Shares rose to $11.39 after third-quarter revenue of $183.5 million, against $1.0 million a year earlier, topped the $84.94 million estimate, and earnings of $0.58 a share beat the $0.14 expected. GAAP net income was $60.1 million and adjusted EBITDA was $117.9 million, helped by a $100 million milestone after the FDA approved its SimpleScreen colorectal cancer test. Cash stood at $430.0 million. The stock had closed 1.89% higher at $10.77.
• CoreWeave, Inc. (NASDAQ:CRWV), +1.50% after hours: Shares rose to $49.46 after third-quarter revenue of $3.66 billion topped the $3.54 billion estimate and the loss of $0.95 a share was narrower than the $1.27 expected. Net loss was $709 million and net interest expense was $846 million. The company raised its 2026 revenue guidance to $13.0 billion to $13.3 billion, set adjusted operating income at $1.275 billion to $1.375 billion, and lifted the low end of its capital spending range to $37 billion to $39 billion. Backlog was about $132.5 billion. The stock had closed 0.51% lower at $48.73.

Decliners:

• Astronics Corporation (NASDAQ:ATRO), -13.63% after hours: Shares fell to $53.55 even though third-quarter adjusted earnings of $0.81 a share beat the $0.72 expected and revenue of $271.68 million topped the $267.97 million estimate. The company affirmed 2026 sales guidance of $1.02 billion to $1.04 billion, but its fourth-quarter revenue outlook of $255 million to $275 million has a midpoint below the roughly $274.6 million estimate. The stock had closed 5.10% higher at $62.00.
• BrightView Holdings, Inc. (NYSE:BV), -13.47% after hours: Shares fell to $9.89 after fourth-quarter revenue of $677.3 million, down 3.6% from a year earlier, missed the $723.76 million estimate, and adjusted earnings of $0.18 a share trailed the $0.26 expected. Development Services revenue fell 17.8%, while Maintenance Services rose 3.2%. Fiscal 2027 guidance calls for revenue of about $2.535 billion to $2.720 billion, adjusted EBITDA of $335 million to $355 million, and Land Maintenance growth of 3% to 4%. The stock had closed 3.54% lower at $11.43.
• Hagerty, Inc. (NYSE:HGTY), -8.50% after hours: Shares fell to $15.50 after the company announced an underwritten secondary offering of 9 million Class A shares, with a 30-day option for 1.35 million more. Hagerty receives no proceeds, which will fund a redemption of shares held by the Kim Hagerty Revocable Trust. The stock had closed 1.63% lower at $16.94.
• Amprius Technologies, Inc. (NYSE:AMPX), -8.40% after hours: Shares fell to $8.40 even though record third-quarter revenue of $39.1 million, up 83%, topped the roughly $35.8 million estimate. The GAAP loss of $0.02 a share was slightly wider than the $0.01 loss expected, gross margin was 27%, and the company raised its full-year outlook to $145 million. The stock had closed 3.68% lower at $9.17.

COMMODITIES & RATES

US TREASURY YIELDS

TOP STORIES: US

Hot inflation data and Waller's half-point talk send the 10-year yield back above 5%. October consumer prices rose 0.4% on the month against a 0.3% forecast, and core prices rose 0.3% against 0.2%, the latest sign that the oil shock has seeped into everyday costs. Waller, speaking in London, said he would back a December hike and that a 50 basis point move should be considered, warning that a smaller one would put the Fed's credibility at risk. Dallas Fed President Lorie Logan said she expects two more quarter-point hikes, Kansas City Fed President Jeff Schmid called the current policy rate fairly accommodative, and Vice Chair Michelle Bowman stopped short of calling for hikes but said inflation is the top priority. The federal funds range is 3.75% to 4%, and the October decision drew two dissents, from Governors Cook and Hammack. Markets now fully price a December hike.

Nvidia's slide deepens as the board probe into CEO Jensen Huang widens. The stock fell 5.527% to close at 168.796, after dropping 4.3% on Monday, and its market value briefly slipped below $4 trillion as Microsoft took back the number two spot. The independent directors retained a former acting US attorney and a prominent law firm to run the review, and the FBI is separately examining whether Huang was targeted by foreign intelligence. A media report said a network tied to the businesswoman at the center of the story helped move at least $7.5 billion of Nvidia chips, roughly 240,000 H100, H200, and some A100 units, to Chinese firms, and the chair of a China-focused panel demanded answers. One investment firm strategist called the stock reaction irrational.

CoreWeave beats on revenue and lifts its outlook as investors watch its debt. Third-quarter revenue of $3.66 billion topped the $3.54 billion estimate, and the company raised its 2026 revenue guidance to $13.0 billion to $13.3 billion. Backlog reached about $132.5 billion, with more than 1.7 gigawatts of active power and over 1.85 gigawatts expected by year-end. Net loss was $709 million and net interest expense $846 million, which keeps the focus on financing, with roughly $15 billion of principal due through 2028. The stock closed 0.51% lower at $48.73 and gained 1.50% after the bell.

Anthropic sets its IPO range at $70 to $78 a share, valuing it at up to $1.4 trillion. The company will offer 825 million shares, raising up to $64.35 billion, and plans to price on November 18 and begin trading on November 19 on the Nasdaq under the ticker ANT. About 20% is targeted for retail investors, and people familiar with the plan said the book is already covered at the range. AMD, Broadcom, Google, Micron, Microsoft, Nvidia, and TSMC agreed to buy $26 billion of stock in a private placement at the IPO price, and TSMC's board approved up to $500 million for IPO shares and up to $500 million for OpenAI preferred stock. The amended filing showed third-quarter revenue of $17 billion, run-rate revenue of about $81 billion at the end of October, nine-month revenue of $33.24 billion, and a $104 billion net loss, mostly from changes in the fair value of convertible notes and derivatives.

Jim Jordan is elected House Republican minority leader. Republicans chose the Ohio congressman for the job by a vote of 106 to 73, after the Democrats' midterm sweep ended the party's majority.

Also today: The New York Fed said credit card balances hit a record $1.29 trillion in the third quarter, up $22 billion, while total household debt reached $19.1 trillion and home equity line balances jumped $23 billion to $481 billion, the biggest increase since 2005; the SEC brought 348 enforcement actions in fiscal 2026, down from 456, with $1.1 billion in remedies, the lowest since 2008; the EIA expects US power demand to hit records of 4,306 billion kilowatt hours in 2026 and 4,370 in 2027; the national average gasoline price fell to $3.9788 a gallon, below $4 for the first time since July; the White House vowed to press on with tariffs, saying it is "just getting started," while a poll showed 62% of Americans support repealing them; Rivian's CEO said new R2 SUV sales and autonomy make 2027 an inflection year, after record third-quarter deliveries of 19,248, up 46%; Amazon's Ring unveiled a $250 indoor drone camera that ships January 27 and a $1,000 patrol robot for businesses; the FDA ordered all GLP-1 makers to add a warning about a rare eye condition that can cause sudden vision loss, with Novo Nordisk saying the data do not show cause and effect; a House Oversight report on Jeffrey Epstein also criticized American Express.

TOP STORIES: GLOBAL

Asian markets rally on Tuesday as chip and exporter names rebound. Japan's Nikkei jumped 2.87% to 60,459.58 and the Topix gained 1.98% to 3,893.71, while South Korea's Kospi surged 4.39% to 5,239.13 and the Kosdaq rose 4.48% to 667.61. Australia's ASX 200 gained 1.1% to 9,129, Hong Kong's Hang Seng added 0.38%, and China's CSI 300 was roughly flat at 4,059.11. The gains came before the hot US inflation report and Nvidia's second day of selling.

Brent dips below $90 as hopes grow that the Iran war could end soon. Brent settled at $91.49, down 1.17%, after briefly trading below $90 for the first time since August. President Donald Trump said the war could end "fairly soon," and one bank estimate puts Gulf crude exports back at roughly 80% to 85% of prewar levels. Lower fuel costs are already showing up at the pump, where US gasoline fell below $4 a gallon, though the inflation report suggests the earlier oil shock has not fully worked through prices.

The dollar firms and gold slides as rate-hike bets build. The dollar index traded near 102.3, with the euro around $1.116 and the dollar near 158.8 yen. Gold fell 2.65% to about $4,031. European shares edged up, with the STOXX 600 gaining 0.4%, while the MSCI world index slipped 0.21% as US tech weakened.

France blames an Iran-linked unit for supermarket fridge cyberattacks. Paris attributed the October hacks, which hit about 700 stores and caused tens of millions of euros in damage from spoiled food and fires, to Shahid Kaveh, a unit it says is tied to Iran's Revolutionary Guard. France summoned Iran's ambassador, and Foreign Minister Jean-Noël Barrot said the government is weighing entry bans and asset freezes. Iran called the accusation baseless and malicious, and Paris prosecutors are seeking international arrest warrants. Similar fridge attacks later hit stores in several other European countries.

MANAGEMENT & FED SPEAK

Christopher Waller, Governor, Federal Reserve, on a December hike:

"Hiking only 25 basis points would put our credibility at risk."

Lorie Logan, President, Federal Reserve Bank of Dallas, on policy:

"Tighter policy will be necessary to appropriately balance the outlook and risks for inflation."

Gary Cohn, former White House economic adviser, on tariffs:

"Tariffs are a consumption tax on the U.S. consumer."

RJ Scaringe, Chief Executive Officer, Rivian Automotive, on 2027:

"2027 is really an inflection year for us."

Jean-Noël Barrot, Foreign Minister, France, on responding to Iran:

"Not ruling anything out."

CORPORATE ACTIONS & EARNINGS CALENDAR

Earnings Reported After the Close (Tuesday, November 10):

Upcoming Earnings (Wednesday, November 11):

Economic Calendar (Tuesday, November 10):

That's the wrap for today! Wednesday brings no major US data, so earnings from Vylor and Corteva and any fresh Nvidia headlines will set the tone.