Wall Street opened Tuesday on the back foot after a hotter than expected inflation report cooled some of the enthusiasm from Monday’s sweeping rally. Here is where markets stood heading into the middle of the session on Tuesday, November 10.
Monday’s close: best day since spring
Stocks surged across the board on Monday. According to closing figures reported by CNBC and compiled by Stock Titan and The Motley Fool, the S&P 500 jumped 2.35% to about 7,550, the Dow Jones Industrial Average climbed 2.15%, or roughly 1,104 points, to about 52,390, and the Nasdaq Composite rose 2.74% to about 25,253. Every sector finished higher, with industrials leading.
Chip stocks did much of the lifting. AMD rose about 13% after an analyst upgrade and Broadcom gained close to 9%, while Nvidia fell 4.27% to $178.67 after its board opened an internal investigation tied to its chief executive, according to Yahoo Finance.
Tuesday: inflation data hits sentiment
Before the opening bell, futures were mixed, with Dow futures modestly higher and Nasdaq-100 futures lower, according to Stocktwits and Yahoo Finance. The mood shifted at 8:30 a.m. ET when the Labor Department reported that the consumer price index rose 0.4% in October, above the 0.3% economists expected. Core prices, which exclude food and energy, rose 0.3% versus a 0.2% forecast, according to Reuters and CBS News.
By about 11 a.m. ET, Yahoo Finance data showed the Dow down roughly 0.6%, the S&P 500 down about 0.7%, and the Nasdaq off close to 0.9%. These are intraday figures and will change before the close.
Rates, oil and gold
- Treasuries: Yields climbed after the report. Reuters said the 2-year yield posted its largest gain since early April 2025, and Yahoo Finance reported the 10-year yield near 4.93% in morning trading, up from a 4.88% close Monday.
- Fed bets: Traders now see a December rate hike as highly likely, and odds of a half-point move rose to roughly 15%, according to Reuters and Yahoo Finance.
- Oil: Crude extended its slide, with Brent near $90 and U.S. crude in the mid $80s early Tuesday, after President Trump signaled he would hold off on new strikes against Iran, TheStreet reported.
- Gold: Gold futures eased about 1% to 1.5% after Monday’s gain, according to TheStreet and Yahoo Finance.
What to watch
CoreWeave, Rigetti Computing and D-Wave Quantum are scheduled to report, with CoreWeave due after the close. Later this week, Cisco and Applied Materials report Thursday, and October producer prices are due on November 13. Nvidia’s own quarterly results are set for November 17.
The bigger question for investors is whether Monday’s rebound can hold up if the Fed signals it is prepared to tighten policy more aggressively at its December 8-9 meeting.
