Written by AI from the stories below.
The consumer price index rose 0.4% in October from September, more than a Dow Jones consensus estimate of a 0.3% increase. CME Group's FedWatch tool shows an 11% chance of a 50 basis-point hike in December, up from zero a week ago, and expectations for a quarter-point increase stand at 88%, up from 77%. The benchmark 10-year Treasury yield rose nearly 10 basis points to 4.95%.
Summary by WaZii, written by AI
Hotter-than-expected CPI data sent the Nasdaq Composite down 0.7% and the S&P 500 down 0.4%, and lifted the 10-year Treasury yield by over 10 basis points back toward the 5.00% area. CME Fed funds futures price a 91% chance of a 25 basis-point December tightening and a 9% chance of a 50 basis-point hike. Nvidia fell 5.5% and is now down over 30% from its October highs, while CoreWeave rose 5.6% after its results.
Summary by WaZii, written by AI
Goldman Sachs now expects 25 basis-point Fed hikes in December 2026 and March 2027, adding a third hike to the cycle after a third straight month of hot inflation, and has pushed its first rate cut to December 2027. The bank says the March move could come in January but March is slightly more likely, and it expects most FOMC members to signal a third hike in the December dot plot. It still sees inflation meaningfully lower by end-2027 as tariff, energy and AI pressures fade.
Summary by WaZii, written by AI
Core consumer prices rose 0.3% from a month earlier, topping estimates for a third straight month, while overall prices jumped 0.4%, according to Bureau of Labor Statistics data. The S&P 500 halted back-to-back gains and two-year Treasury yields jumped 18 basis points to 4.74%. Fed Governor Christopher Waller said he backed a December rate hike and would support a half-percentage-point increase if inflation keeps accelerating, while Dallas Fed President Lorie Logan said she still sees the need for at least two quarter-point increases.
Summary by WaZii, written by AI
On Holding shares fell 5% in premarket trading after the company reported quarterly results. October consumer price index rose 0.4% month-over-month, down from September's 0.6% but above the 0.3% consensus, while core CPI increased 0.3% versus a 0.2% forecast. S&P 500 futures slid 0.60% and Nasdaq futures fell 1.21%.
Summary by WaZii, written by AI
Sanmina shares surged 21% in premarket trading after the company reported fiscal fourth-quarter 2026 results that beat analyst expectations, with adjusted earnings of $4.43 per share versus the $3.27 consensus and revenue of $3.86 billion versus expectations of $3.48 billion. Sanmina forecast fiscal 2027 revenue of $17.5 billion to $19.5 billion and adjusted earnings of $15.50 to $17.50 per share. AAON jumped 21.5% before the opening bell after record third-quarter results, with adjusted earnings of $0.83 per share versus expectations of $0.56 and revenue up 84.1% to $707.4 million.
Summary by WaZii, written by AI
Dallas Fed President Lorie Logan said it is clear the Fed needs at least two more quarter-percentage-point rate increases, and that it may be possible to raise rates more rapidly this winter than the central bank has moved so far. She said that after two more hikes it would make sense to pause and assess what further action may be appropriate, and that the Fed policy rate is at least 50 basis points below a modestly restrictive level. She also said excess inflation is unacceptable and that higher-than-expected CPI raises concern that PCE inflation could rise.
Summary by WaZii, written by AI
Sanmina shares rose 20.3% after the company's results, AAON gained 15.3% and Take-Two Interactive added 4.4%. Digital Turbine fell 24.5%, Groupon dropped 17.4% and Rocket Lab lost 6.3%. The tech-heavy Nasdaq Composite had risen 2.7% in the prior session.
Summary by WaZii, written by AI
CoreWeave beat revenue expectations in the third quarter and raised its full-year guidance, with shares swinging in extended trading after initially rising. Mercury Systems fell almost 3% postmarket even after earning 52 cents a share in its fiscal first quarter, above the 33-cent highest estimate among 13 analysts polled by FactSet, on revenue of $253.2 million versus a highest estimate of $246.2 million. Grocery Outlet dropped 8% after mixed third-quarter results, with revenue of $1.18 billion and adjusted earnings per share of 16 cents.
Summary by WaZii, written by AI
Rocket Lab shares fell nearly 6% after the aerospace company said it has a record backlog but posted a bigger-than-expected net loss. Nvidia rose 1.5% in heavy volume after a 4.3% loss on Monday. AAON jumped more than 20% and Sanmina rose nearly 20% after results and guidance topped forecasts, while GFL Environmental fell nearly 13% after reports it rejected a $22 billion buyout proposal.
Summary by WaZii, written by AI
Take-Two Interactive rose 8.2% after narrowing its net loss and raising its 2027 guidance, with CEO Strauss Zelnick citing "unprecedented pre-orders" for GTA VI, set for release on November 19. Its second-quarter net loss was $0.29 per diluted share versus a loss of $0.73 a year earlier, revenue fell 15.25% to $1.50 billion from $1.77 billion, and it lifted its earnings per share outlook to $0.57-$0.75 and revenue forecast to $7.98 billion-$8.18 billion. Sea Limited gained 8.2%, Steel Dynamics rose 3.7% after adding $3 billion to its buyback program, and Skydance fell 8.9%.
Summary by WaZii, written by AI
DataTrek Research co-founder Nicholas Colas argues that falling stock prices and rising volatility are already doing part of what higher interest rates are meant to do by restraining financial conditions. He notes futures markets now assign a 68% probability to no more than one rate hike during 2027, up from 57% a week earlier. Traders expect the Fed to hold rates steady through at least the first quarter of next year.
Summary by WaZii, written by AI
Morgan Stanley reiterated SpaceX as overweight, saying it expects a shift into robotics, mesh networks and space-based infrastructure heading into 2027. Cantor Fitzgerald initiated Ralph Lauren as overweight, and Jefferies reiterated Tesla as hold, noting a SpaceX-Tesla merger could be more challenging now. UBS downgraded Carlyle Group to neutral from buy, JPMorgan upgraded British American Tobacco to overweight from neutral, and Jefferies initiated Alvotech as buy.
Summary by WaZii, written by AI
Treasury yields across the curve fell to their lowest since September last week after a Democratic sweep in the midterms led to a selloff in technology stocks, and the 10-year yield ticked up to 4.88% on Monday as equities stabilized. Economists expect October consumer prices to have risen 0.3% from a month earlier, down from the prior headline print of 0.6% for September. The interest-rate swap market is pricing in more than an 80% chance of a quarter-point increase at the December Fed meeting.
Summary by WaZii, written by AI
Nvidia shares slid as much as 8.8% on Monday after the board began assembling a committee of independent directors, with outside counsel, to investigate CEO Jensen Huang's relationship, which he disclosed in a memo to employees. DraftKings fell after downgrades from JPMorgan and Stifel that followed a disappointing full-year profit outlook tied to heavy investment in its prediction-market product. Ionis Pharmaceuticals cut its full-year sales guidance for Tryngolza, and partner Novartis said it is largely abandoning development of pelacarsen.
Summary by WaZii, written by AI
KKR reported third-quarter adjusted net income of $1.65 billion, or $1.78 a share, up 29% and above the $1.57 average estimate in a Bloomberg survey, and said it expects to return more than $40 billion to clients this year, exceeding its prior record by more than 50%. American Airlines rose as travel stocks gained on oil extending losses amid optimism over diplomatic efforts to end the war in the Middle East. Alphabet rose after Google said it is introducing two new variations of its tensor processing units.
Summary by WaZii, written by AI
Barrick Mining shares rose in premarket trading after the miner reported third-quarter earnings that beat the average analyst estimate as strength in gold offset copper weakness, and said its Nevada Gold Mines initial public offering remains on track for late 2026 or early 2027. Alphabet edged higher after news that Google is rolling out two new variations of its tensor processing units. KKR rallied after a third-quarter profit that beat analysts' estimates, helped by its long-term private equity holdings amid a slump at its Global Atlantic insurance arm.
Summary by WaZii, written by AI