Market Briefing, Nov 10, 2026: Futures Mixed Ahead of 8:30 AM CPI Report

Market Briefing, Tuesday, November 10, 2026

Futures are mixed after Monday's rebound. Futures tracking the tech-heavy Nasdaq 100 index fell on Tuesday as investors assessed fresh updates on the controversy surrounding Nvidia CEO Jensen Huang . Meanwhile, cooling oil prices on Tuesday emboldened investors to wade into some corners of the equity market, pushing Dow futures higher , and Brent crude futures slipped below $90 a barrel for the first time since August. The session hinges on the 8:30 AM CPI print. The US October CPI report is the final inflation reading before the Federal Reserve's December meeting , and fed funds futures are still showing a hike in December .

Market setup

S&P 500 futures ( 7,580.25 )	+0.08%
Nasdaq 100 futures ( 27,935.00 )	-0.28%
Dow futures ( 52,690.00 )	+0.37%
Russell 2000 futures ( 2,850.20 )	+0.05%
10-year Treasury yield (up about half a basis point)	4.864%
WTI crude: WTI crude futures traded 1.21% lower at $85.82 per barrel	$85.82 (-1.21%)
Bitcoin (early-morning quote)	$74,279
Gold ( 4,080.70 )	-0.82%

Key levels (dealer gamma)

SPY (spot ~742)	Unavailable today
QQQ (spot ~663)	Unavailable today

We don't have current call-wall and put-wall levels this morning. The latest ones we could find were set before Monday's rally, so we left them out rather than publish stale numbers. Normally, call walls mark where dealer positioning may slow rallies and put walls mark where dealer hedging may cushion dips. These are positioning estimates, not guarantees.

Today's market calendar (ET)

6:00 AM (already out)	NFIB optimism · prior 97.9
8:30 AM	CPI M/M · est. 0.3% (prior 0.6%)
8:30 AM	Core CPI M/M · est. 0.2% (prior 0.3%)
8:30 AM: No year-over-year figures will be published for October, as the 2025 government shutdown left the corresponding comparison data unavailable.	CPI Y/Y · not published
After the close	CRWV, RGTI earnings

Notable earnings

Already reported: Trade Desk: quarterly earnings beat and stronger-than-expected next-quarter guidance sparked a sharp rally, but traders focused on the subsequent fade during management's call . Monday.com falls despite Q3 earnings beat as retention rate declines . Quantum Computing Inc. (QUBT) drops 4% after earnings despite 2,374% Q3 revenue surge . SoftBank reported significant losses from AI infrastructure investments alongside record-breaking financing achievements .

Still ahead before the open: These are scheduled, and some may print before 9:30. Consensus EPS: D-Wave Quantum · QBTS · -0.10 ; On · ONON · 0.39 ; Sea Limited · SE · 0.94 ; Transdigm Group · TDG · 12.21 ; Venture Global · VG · 0.50 ; Wix.com · WIX · 1.40 ; and eToro Group Ltd · ETOR · 0.27 . Options-implied moves: D-Wave Quantum | Mkt Cap: $4.1B | Implied Move: 22.54% , and On Holding ±9.35%.

After the close: CoreWeave ±19.8%. Analysts forecast a loss of $1.16 per share on revenue of $3.55 billion. Another estimate puts the move at 21.1%. Rigetti Computing ±24.0%. Also on today's slate, with timing unconfirmed: StubHub ±13.5% and Firefly Aerospace ±36.4%, the highest-volatility setup on the list .

Congress corner

• Rep. Josh Gottheimer (D-NJ): bought Applied Materials (AMAT), $1,001 to $15,000, made October 26, 2026
• Rep. Maria Elvira Salazar: buy NVDA · $1K-$15K, 2026-10-23 . She also sold CSCO ($1K–$15K) the same day.
• Rep. David Taylor: bought RPM International Inc., 2026-10-15 · filed 2026-11-04, $50K-$100K
• Sen. Sheldon Whitehouse (D): AMGN Amgen Inc | sell | $15,001 - $50,000 | Oct 15, 2026
• Sen. Shelley Moore Capito (R): AAPL Apple Inc | sell | $1,001 - $15,000 | Oct 21, 2026
• Rep. Daniel Meuser (R): NVDA NVIDIA Corporation | sell | $1,001 - $15,000 | Sep 25, 2026

These are delayed STOCK Act disclosures, not real-time trades. Filings can come weeks after the trade date, and a disclosure gives a value band, not the price paid.

Social-media trends

Retail is piling into Nvidia's rivals. On Stocktwits, retail sentiment for AMD jumped to 'extremely bullish' from 'bullish' levels amid a 277% jump in 24-hour message volumes , and traders are speculating that Nvidia-related uncertainty is redirecting interest toward rivals such as Marvell, AMD and Broadcom . Options flow points the same way: AMD (+$57.1M), MU (+$55.0M), SMH (+$54.3M) and AVGO (+$39.1M) saw strong net bullish premium, while NVDA saw -$22.4M. NVDA itself is still a top retail talking point amid mounting market concerns over leadership and governance following CEO Huang's letter over the weekend . TSLA (+$58.7M) also drew heavy call-side flow. Trade Desk and HIMS lead Stocktwits' trending list. On Reddit, GameStop GME and Robinhood (HOOD) mentions are climbing alongside AMD, and CoreWeave is on the meme-stock watchlist ahead of tonight's report.

What matters today

1. October CPI Is the 8:30 Test. Headline is forecast at 0.3% vs. a 0.6% prior (range 0.5%/0.1%), and core at 0.2% vs. a 0.3% prior (range 0.3%/0.1%). Because the BLS did not collect October 2025 prices during the government shutdown, no official year-on-year rates will be published , so the monthly numbers will matter most. Some calendars still show a 3.9% year-over-year consensus. This is also the last CPI report before the Fed's December meeting. Trading impact: expect sharp moves at the open, because each tenth of a point on core changes how big a December hike looks.
2. Waller Puts 50bp on the Table. Speaking this morning, Fed Governor Waller said he backs a 25-basis-point December hike, and that 50 basis points may be warranted if core prices rise around 0.3% or more . He supports a hike even if October inflation improves . Odds of a December quarter-point hike rose to 96.3% from 76.3% after the speech . Trading impact: a 0.3% core print would line up with Waller's threshold for a half-point hike, which would put rate-sensitive growth stocks under the most pressure.
3. Oil Slide Drives a Split Open. Brent crude slipped below $90 a barrel for the first time since August , after President Trump signaled further military action against Iran was unlikely . Futures are split: Nasdaq 100 E-minis were down 0.35% while Dow E-minis were up 0.3% . In the prior session's rebound, industrials led at +3.82% while energy lagged at +0.52%. Trading impact: watch whether money keeps moving into cyclicals and blue chips while tech gives back some of Monday's gains.
4. Nvidia Probe Splits Chip Flows. Nvidia closed 4.27% lower Monday after launching an investigation into CEO Jensen Huang's relationship with a businesswoman intelligence agencies say is a Chinese spy . It was up 0.6% premarket as of 6:25 a.m. Options money is moving away from Nvidia and into other chip names: net premium was -$22.4M in NVDA versus +$57.1M in AMD, +$55.0M in MU, and +$54.3M in SMH, while total net put premium (-$420.1M) outweighed net call premium ($276.2M). Trading impact: any new headline about the investigation could move Nvidia on its own, apart from the rest of the semiconductor group.
5. AI Valuation Tests: Anthropic Range, CoreWeave Tonight. Anthropic will offer 825 million shares at $70 to $78 each , netting up to $64.35 billion at the high end , under the Nasdaq ticker "ANT." CoreWeave reports after the close and expects third-quarter revenue between $3.45 billion and $3.6 billion, although interest expenses could reach $940 million . Options are pricing in a CoreWeave earnings move of ±16.62%. Trading impact: both events will show how much investors will pay for AI growth, which affects AI infrastructure stocks into Wednesday.

Options flow

QQQ led all tickers in net premium going into today's 8:30 AM CPI release.	+$90.4M net premium
TSLA had the most net premium of any single stock.	+$58.7M net premium
AMD led the semiconductor flow, with SMH also adding +$54.3M.	+$57.1M net premium
MU was another chip name in the top tier, close behind AMD.	+$55.0M net premium
NVDA went the other way: it had the most negative net premium even as money moved into other chip names.	-$22.4M net premium
Strike, expiry and fill-side details for individual contracts aren't available today, so these rows are ranked by each ticker's net premium.	Strikes n/a

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.