Daily Bulletin · Monday, November 9, 2026 · pre-market

Chip rebound lifts Nasdaq +1.01% as CPI and Fed hike odds loom

S&P 5007,374.85+0.25%Nasdaq24,573.21+1.01%10Y4.86%+0.02WTI$91.28+0.50%Gold$4,055.45−0.25%VIX25.63−8.95%

In brief

Chips rebound: The Nasdaq Composite rose +1.01% as investors returned to chip stocks after Thursday's slide into correction territory.¹
Election jolt: Democrats' wins in Congress stirred worries about slower data center construction, weighing on AI-buildout stocks.¹
Hike odds high: Traders priced in high odds of a December Fed rate hike, raising the stakes for Tuesday's CPI report.²

What it means

Friday's bounce did not undo the week: over five sessions the S&P 500 fell -2.70% and the Nasdaq 100 -4.98%. Quilter portfolio manager Stuart Clark said the falls in the market's biggest names highlight the concentration risk built up in US equities.¹ S&P 500 futures were up +0.60% before the open, extending Friday's steadier tone.

The day in review and where money is flowing

Over the past month, Consumer Discretionary led Metravise's sector ranking, beating the S&P 500 by +8.7 pts. Within it, Recreational Vehicles, Lodging and Home Improvement Retail outpaced the index by +23.1 pts, +16.9 pts and +16.6 pts. Technology sits in the lagging group with weakening momentum, in line with the pressure on AI-buildout names.¹

AI buildout: deals continue

Brookfield Infrastructure signed a partnership with NAVER to develop sovereign AI capabilities, including over 200 MW of compute capacity.³ The agreement came as the election results raised questions about the pace of data center construction in the US.¹

Market mood

The VIX eased -8.95% to 25.63 but remains in the tense zone, a sign that nerves have not fully settled. The equity put/call ratio stood at 0.89, above its 5-day average of 0.65, pointing to firmer demand for downside protection.

What to watch this week

Times are US Eastern (ET).

23:15
US index futures (futures, not the session)Versus the prior close, S&P 500 futures are +0.60% and Nasdaq 100 futures +0.51%; these are futures prices, not the session. The US session opens at 9:30 ET.
Mon
Constellation Energy Corporation (CEG) earnings · today before the openConstellation Energy reports before the bell, part of a busy Monday that also includes KKR and Occidental Petroleum.²^,4
Tue 04:00
Fed Governor Christopher J. Waller speaks — Economic OutlookFed Governor Christopher Waller, a 2026 FOMC voter, speaks on the same day as the October CPI release.²
Tue 08:30
Consumer price index (CPI)Early estimates put October CPI at 3.9% year over year versus 3.7% before; a hotter print is generally read as adding to tightening pressure.⁴^,2
Fri 08:30
Producer price index (PPI)The PPI closes the week; CNBC's Investing Club noted hot inflation data could prompt pricing of additional tightening.²
Mon
Wholesale inventories and consumer expectationsFinal September wholesale inventories are due at 10:00 ET, with the New York Fed's consumer expectations survey at 11:00.⁴
Thu
Hammack speaksCleveland Fed President Beth Hammack, also a 2026 FOMC voter, speaks Thursday after the inflation data.²

Metravise Portfolio

PortfolioFriday change+4.10%
—No entries or exits in the last session.

Metravise is an educational research platform — this bulletin is not investment advice. News summaries are based on the footnoted sources; numbers are Metravise data. Past performance is not indicative of future results.

Sources

Stock market news for Nov. 6, 2026 — CNBC · Nov 7
Here are the 2 big things we're watching in the stock market in the week ahead — CNBC · Nov 9
Brookfield Infrastructure Reports Strong Third Quarter 2026 Results — GlobeNewswire · Nov 7
Further turmoil could be in store for tech stocks. What to watch in the week ahead — CNBC · Nov 7