2026-11-10 08:40

Lead: Dow surged over 1,100 points on Monday, Nasdaq up 2.74%; NVIDIA closed down ~4%, while Trade Desk jumped ~19% after market hours.

U.S. equities soared on Monday, with the Dow rising over 1,100 points, Nasdaq and S&P 500 up 2.74% and 2.35% respectively; oil prices continued to decline, while most semiconductor stocks rebounded.

NVIDIA fell ~4% amid reports of an internal investigation into Huang Renxun, failing to participate in the broader market recovery. After hours, Trade Desk and Sanmina posted outsized gains following strong guidance.

Today's focus: October CPI data.

All Three Indices Rise, S&P Records Best Single-Day Performance Since April

On Monday, the Dow gained 1,104.02 points, up 2.15%, closing at 52,389.75, reclaiming above its election-day close.

The S&P 500 rose 2.35%, ending at 7,549.94, marking its largest single-day gain since April 8; the Nasdaq climbed 2.74%, closing at 25,253.14, its best performance since July 30.

Heavyweights including Goldman Sachs and Caterpillar drove the Dow higher. Within sectors, Industrials and Consumer Discretionary led gains, while Energy lagged due to weakening oil prices.

The Nasdaq 100 rose ~3.4%, and the Russell 2000 advanced ~3.2%.

Oil Continues to Fall, Most Semiconductor Stocks Rebound, Only NVIDIA Declines

WTI crude dropped 4.38%, settling at $86.85 per barrel; Brent crude declined 5.85%, closing at $92.57 per barrel. On Sunday, Trump stated that if progress is made on Iran’s nuclear talks, he would be "highly unlikely" to authorize new military strikes, reinforcing market expectations of easing supply risks.

Airlines and cruise stocks benefited from lower fuel costs. American Airlines and United Airlines both rose over 6% intraday.

In semiconductors, the Philadelphia Semiconductor ETF (SOXX) surged over 7%. AMD closed up ~13%, Broadcom gained nearly 9%, and Coherent briefly spiked ~18% during trading.

NVIDIA ended down ~4%. Markets continued digesting weekend news of an independent board-led investigation and Huang Renxun’s admission of extramarital affairs. Amazon and Microsoft rose ~3% each, Tesla gained ~5.5%, and Alphabet advanced ~1%.

AST SpaceMobile jumped ~14% after announcing a joint venture with Rakuten. First Solar fell over 5% after a price target downgrade.

New York Stock Exchange selected Avalanche as the primary blockchain for its upcoming tokenized securities trading and settlement platform, sending AVAX up ~8%.

After-Hours: Trade Desk, Sanmina Surge, Skydance Slumps

Trade Desk reported adjusted EPS of $0.33 for Q3 and revenue of $736 million, both exceeding estimates; Q4 revenue guidance of no less than $755 million surpassed the expected $650 million, sending shares up ~19% after hours.

Sanmina issued full-year EPS and revenue guidance above market expectations, driving a ~20% after-hours rally.

Take-Two posted adjusted EPS of $1.00 and revenue of $1.6 billion for Q2, slightly beating estimates, with shares up ~4% after hours.

Skydance announced a $6 billion cost-cutting initiative over the next three years, triggering a ~2% after-hours drop; its predecessor, Paramount Skydance, reported Q3 revenue of $7.03 billion, slightly below expectations.

Securitize reported year-over-year growth in tokenized assets and transaction volume for Q3, and announced a $50 million share buyback authorization, pushing shares up ~10% after hours. Rocket Lab missed earnings expectations with wider-than-expected losses, dropping ~3% after hours; Lucid’s revenue and per-share loss both came in below forecasts, dragging shares down over 3%.

Today's Focus

All times are Beijing Time.

21:30: U.S. October CPI. The Bureau of Labor Statistics confirmed today’s release. Dow Jones survey expects overall MoM rise of 0.3%, core MoM increase of 0.2%; September figures were 0.6% and 0.3% respectively.

After-market tonight: CoreWeave releases earnings.

After-market Thursday: Cisco and Applied Materials report results.

Friday 21:30: U.S. October PPI.

November 17: NVIDIA reports Q3 earnings. Ongoing investigations and congressional scrutiny may continue to influence market sentiment.

Wednesday is U.S. Veterans Day, with NYSE operating normally.

Source: TechFlow Column