Market Briefing, Nov 9 2026: Nvidia CEO Probe Weighs on Futures Before Tuesday CPI

Market Briefing, Monday, November 9, 2026

US stock index futures attempted a recovery on Monday as investors hunted for bargains following a steep slide in equities last week, while awaiting more clarity on the controversy surrounding Nvidia CEO Jensen Huang. Overnight, Taiwan's Taiex surged 4.9%, rebounding from bear-market territory after authorities rolled out targeted market-stabilization measures . Nasdaq 100 contracts shook off an early 1.0% drop triggered by reports of an espionage investigation involving Nvidia CEO Jensen Huang . Today's economic calendar is light. The bigger test comes Tuesday, when October CPI lands and will shape expectations for December's Fed decision . Markets price around a 78% chance of a December hike.

Market setup

S&P 500 futures	7,445.25 (+0.58%)
Nasdaq 100 futures	27,214.25 (+0.48%)
Dow futures	51,839 (+0.88%)
Russell 2000 futures	2,793.50 (+1.20%)
10-year Treasury yield. Traders are watching Treasury yield resistance near 4.90%	4.859% (+2.2 bp)
WTI crude. Prices fell after President Trump indicated that further military strikes against Iran were unlikely while diplomatic negotiations continued	$89.87
Bitcoin. More than USD 1bn of positions were liquidated over the weekend, most of them ether longs	$74,535 (-1.76%)
Gold	$4,116.30 (+1.02%)

Key levels (dealer gamma)

SPY (spot ~735)	Call wall 740 (then 800 ) · Put wall 730 (then 725 )
QQQ (spot ~658)	Call wall 660 (then 700 ) · Put wall 650 (then n/a)

Call walls mark where dealer positioning may slow a rally. Put walls mark where dealer hedging may cushion a dip. Both readings put dealers short gamma: "Dealers Short Gamma." That setup tends to make swings bigger rather than smaller. No clear second put level for QQQ was available. These are estimates of positioning taken from the latest snapshots, not guarantees.

Today's market calendar (ET)

10:00 AM	Wholesale trade · prior 0.5%
10:00 AM	Chicago Fed's Goolsbee speaks
Time TBA. Also on today's slate: New York Fed 1-Year Inflation Expectations	NY Fed survey
Time TBA. Fed speakers Bowman, Goolsbee and Barkin are on today	Bowman, Barkin
Tue 8:30 AM (preview). Prior readings: core CPI +0.3% m/m, +2.6% y/y	Oct. CPI · prior 3.7% y/y

No consensus estimate was available for today's wholesale trade report. US bond markets close Wednesday for Veterans Day, while stock markets stay open.

Notable earnings

Already reported: Barrick Mining (B) reports Q3 adjusted EPS 82c, consensus 79c . Over the weekend, Berkshire Hathaway posted weaker operating earnings .

Still ahead before the open: Constellation Energy (CEG) is expected to report earnings of $3.85 per share on revenue of $9.37 billion . Its call is at 9:00 a.m. KKR has an expected Q3 EPS of $1.58 and revenue of $2.59B , and was up 3.7% ahead of the results, while Constellation was flat . Also due this morning: Ferguson (FERG), NRG Energy (NRG) and monday.com (MNDY).

After the close (options-implied moves): AST SpaceMobile ±21.7% · Rocket Lab ±16.4% · Trade Desk ±14.7% · Take-Two ±9.1% · Occidental Petroleum ±5.5% . Take-Two reports just 10 days before the scheduled November 19 launch of Grand Theft Auto VI . Skydance, Plug Power, MARA and Hims & Hers also report tonight.

Congress corner

• Rep. Josh Gottheimer (D-NJ): buy of Applied Materials (AMAT), $1,001 to $15,000, made October 26, 2026
• Rep. Maria Elvira Salazar: NVDA, purchase, $1,001 - $15,000 , traded Oct 23, 2026. Same day, she also sold CSCO in the $1K–$15K range.
• Rep. Daniel Meuser: NVDA, sale, $1,001 - $15,000, spouse , traded Sep 25, 2026
• Sen. Sheldon Whitehouse: AMGN, sale, $15,001 - $50,000, spouse , traded Oct 15, 2026
• Rep. Pete Sessions: sell, AMZN · $15K-$50K , traded Oct 27, 2026

These are delayed disclosures, not real-time trades. Members can file within 45 days of any stock trade , so these positions may already have changed.

Social-media trends

NVDA is the top trending ticker on retail boards. Traders are split between fearing possible security, regulatory, or leadership fallout and viewing the story as personal controversy that leaves the business itself unchanged. Memory names are drawing the heaviest options flow: MU led Friday's tide with $104.7M in net premium, and SNDK added $38.9M. Message boards are split, though. On WallStreetBets, Oracle (ORCL) is most bullish while SanDisk (SNDK) is most bearish . Ahead of tonight's report, ASTS sentiment flipped to 'bullish' from 'bearish' levels a week ago . Meanwhile, retail sentiment for TSLA slipped to 'extremely bearish' from 'bearish' levels a week ago . On the crypto side, XRP and ETH are trending as traders cite leveraged-long liquidations and weak price action .

What matters today

1. Nvidia Hit by Board Probe of CEO. Nvidia shares fell 5.22% in premarket trading Monday after the board announced an independent review following CEO Jensen Huang's disclosure of a romantic relationship with a woman suspected of having ties to Chinese intelligence. A drop of about 5% would mean a roughly $225 billion loss in market capitalization . Nvidia said it has no reason to believe U.S. national security or company secrets were compromised. The probe comes just days before its November 17 earnings report. In the prior session, NVDA drew a net $41.3M in call premium. Trading impact: expect NVDA headlines to set the tone for the AI complex at the open, with wider swings likely in single names than in the indexes.
2. Futures Try to Recover From the Worst Week Since April 2025. As of 6 AM, futures on the Dow Jones Industrial Average rose 0.8%, while those on the S&P 500 gained 0.4%. Contracts for the Nasdaq-100 rose 0.2% after all three indexes posted losses last week. The S&P 500 still ended the week down 2.7% , and the Nasdaq technically entered a correction after dropping more than 10 percent over the past month . Friday's bounce was narrow: XLK gained 1.45% while XLP fell 1.28%, and 318 S&P 500 stocks fell and 184 rose . Trading impact: watch whether today's gains spread beyond the Dow to the broader market, because last week's recovery was concentrated in a small group of stocks.
3. CPI Tomorrow After a Strong Jobs Report. October CPI comes out Tuesday at 8:30 AM ET, after a September reading of 3.7% year over year (2.6% core) and a 0.6% monthly rise. Economists forecast annual headline inflation at 3.6% , and core inflation is expected to stay steady at 0.3% monthly and 2.6%–2.7% annually. The October jobs report showed 165,000 jobs added, far above the 59,000 that economists polled by Dow Jones expected , and pushed December hike odds higher, firming the dollar and Treasury yields. Today, Chicago Fed President Goolsbee speaks and wholesale trade data comes out, both at 10 AM. PPI follows on Thursday. Trading impact: risk appetite may stay cautious into the CPI release, since it is the last CPI report before the December meeting .
4. Options Flow Favors Memory, Hedges QQQ. MU led the prior session's options flow with a net $104.7M in call premium, and SNDK added $38.9M. Meanwhile, QQQ saw net outflows of $76.9M, and the market overall leaned toward puts: net put premium of -$171.5M against net call premium of $152.7M. These bullish bets follow a sharp reversal: the stock rebounded 5.12% on November 6 to close at $690, but it remained under pressure after plunging 17.46% in the previous session. Bloomberg reported that Micron had suspended plans for a $4.5 billion memory-chip plant in Taiwan . Trading impact: memory stocks are where traders are making their biggest bets, so a Micron follow-through or fade is a key sentiment signal for the chip trade.
5. AI Earnings Week Opens With Berkshire's Record Cash. Investors were also awaiting earnings from CoreWeave, Applied Materials and Cisco Systems , with CoreWeave due Tuesday. Berkshire Hathaway's operating earnings fell to $12.7 billion in the third quarter, a 5.8% decline from a year earlier . It spent about $9.6 billion buying back its own shares, the most so far this year, and its cash pile totaled $377.4 billion at the end of September. Trading impact: CoreWeave's report will test worries about AI spending, the theme that erased most of those gains last week. Dealer positioning (gamma) data is unavailable today.

Options flow

MU — the biggest single driver of the prior session's market tide, with memory demand leading tech (XLK) to the top of the sector board	+$104.7M net
QQQ — the largest bearish net flow on the board, likely hedging ahead of Tuesday's 8:30 AM CPI report	-$76.9M net
NVDA — bullish net premium continued as call volume outpaced puts during the chip rebound	+$41.3M net
SNDK — a second memory name in the top flows, alongside MU	+$38.9M net
SPCX — one of the most active option chains, with premium leaning to the bullish side	+$30.7M net
AAPL — megacap flow turned bearish, separating it from the chip-led bullish bets; contract-level strike and expiry details were not available for this session	-$21.5M net

Alertsify is copy trading software for options and stocks, not an RIA or broker-dealer. This post is for information only and is not investment advice.