Tuesday, November 10, 2026

Wall Street closed lower on Tuesday as hotter-than-expected October inflation data stoked fears of a December rate hike from the Federal Reserve. The Nasdaq took the heaviest hit, shedding 0.74% to close at 25,065.875, while the S&P 500 slipped 0.38% to 7,520.93 and the Dow Jones dipped 0.30% to 52,231.89. The small-cap Russell 2000 retreated 0.68% to 2,821.376, though broader market volatility oddly eased, with the VIX falling 2.41% to 19.44.

Sectors in focus: Surprising CPI figures—with headline inflation up 0.4% and core up 0.3%—prompted hawkish remarks from Fed officials Waller and Logan, triggering a rotation out of high-beta tech and into defensive pockets.

• Defensives led: Cable & Other Pay Television Services surged 4.91%, acting as a non-cyclical safe haven while Charter (CHTR) secured a price target boost to $150. Accident & Health Insurance climbed 2.40%, and Crude Petroleum & Natural Gas gained 1.58% despite WTI Crude slipping 0.53% to 86.39.
• Miners and real estate lagged: Rising Treasury yields and a stronger US Dollar pushed Gold down 1.84% to 4,038.7, crushing Gold and Silver Ores (-6.69%) and Metal Mining (-4.48%). Higher rate expectations also battered Real Estate Agents & Managers (-4.29%) and Operative Builders (-3.77%), while Miscellaneous Electrical Machinery plummeted 10.03%.

On the radar:

• Nov 11: Bond market closed for Veterans Day (Stock market open)
• Nov 12 & 13: Weekly Initial Jobless Claims (Thursday) and the October Producer Price Index (Friday)
• Nov 17: October Retail Sales data and Nvidia (NVDA) Q3 earnings report
• Nov 18: FOMC Meeting Minutes