Tue, 11/10/2026Bearish
Hot October CPI lifts 10-year yield near 5%; Nvidia's 5.5% drop pulls indexes lower
✍️ Editor's View — Yesterday I wrote that a core CPI reading above 0.3% would stall the rebound, and core came in at exactly 0.3%. The damage was smaller than feared. The S&P 500 gave back only about 17% of Monday's gain, and six of 11 sectors rose. Financials, energy and health care held up while losses concentrated in technology (-1.14%). In other words, Nvidia, more than rates, pulled the index down. Nvidia fell 5.47% and its RSI hit the most oversold level since 2019, yet fellow chipmakers Broadcom and AMD gained 3.91% and 1.30%. The market is discounting Nvidia-specific governance risk, not the chip cycle. The bigger burden is rates: Governor Waller floated a 50bp December hike and the 10-year topped 5% intraday, which keeps pressure on growth-stock valuations. Until Friday's PPI and next week's Nvidia earnings, staying defensive beats chasing the rebound.
Read full brief →🚀 Top Gainers
AVGO Broadcom Inc.
+3.91%
UNH UnitedHealth Group Incorporated
+1.87%
SNOW Snowflake Inc.
+1.62%
📉 Top Losers
NVDA NVIDIA Corporation
-5.47%
NOW ServiceNow, Inc.
-3.08%
ARM Arm Holdings plc
-2.58%
