Market Analysis
Why Did Stocks Fall Nov 11? Hot CPI Report
Read Article
Market Analysis
AI-powered insights into global financial markets
Stock Market Today, Nov 12: Chip Rally, 5% Yield
StockCram Editorial3 min readChip stocks led a big Wall Street rebound on Nov. 11 while the 10-year Treasury yield held near 5% and traders weighed a possible Fed rate hike.
Educational purposes only. This content does not constitute investment advice. Read our disclaimer
StockCram is not a broker-dealer, investment adviser, or financial institution. All content is for educational and informational purposes only and should not be construed as personalized investment advice. Consult a qualified financial professional before making investment decisions. Past performance does not guarantee future results.Executive Summary
- •US stocks rose on Wednesday, November 11, with the S&P 500 up 1.31% to 7,619.38 and the Nasdaq up 1.6%, as CoreWeave's strong earnings eased worries about AI spending and chip stocks rebounded.
- •October consumer prices rose 0.4% versus the 0.3% forecast, pushing the 10-year Treasury yield back to about 5%.
- •Fed Governor Waller said he may back a half-point rate hike in December, depending on data.
- •Gold fell about 1.1% to near $3,988 an ounce, and WTI crude traded near $87 a barrel.
- •Producer price data arrives Friday, November 13, with a forecast of +0.4% after September's 1.3% jump.
Deep DiveToday's Market Movers
AI-linked chip stocks lead Wall Street higher as Nasdaq jumps 1.6%
What Happened
US stocks rose on Wednesday, November 11, as AI-linked chip shares rebounded after CoreWeave's strong earnings, with the S&P 500 up 1.31% (98.45 points) to 7,619.38 and the Nasdaq Composite up 1.6% to 25,466.19. The Dow Jones Industrial Average gained 0.49%, or 254.60 points, to 52,486.49. CoreWeave jumped about 20% after beating earnings estimates and raising its 2026 guidance. Nvidia rose 2.87% after two straight losing days, Micron gained 11.9%, AMD 7.3% and Broadcom 4%. The Philadelphia Semiconductor Index rose 5.66%.
Why It Matters
Worries about heavy AI spending had hit tech on Tuesday. CoreWeave's results eased those worries, and the VIX, a gauge of expected stock swings, fell about 9.7% to 17.58. For more on the debate over AI spending, read Are We in Another AI Bubble?
Market Impact
Equities
S&P 500 +1.31% to 7,619.38; Nasdaq +1.6% to 25,466.19; Dow +0.49% to 52,486.49
Rates
10-year yield held near 5% despite the stock rally
FX
Little changed; the dollar stayed firm alongside high US yields
Commodities
Not the main driver; gold slipped while oil edged higher
Hot October inflation report pushes the 10-year Treasury yield back to 5%
What Happened
The Bureau of Labor Statistics reported on Tuesday, November 10, that the Consumer Price Index rose 0.4% in October, above the 0.3% economists expected, sending the 10-year Treasury yield back to 5%. Core prices, which leave out food and energy, rose 0.3%, versus 0.2% expected. September's rise was 0.6%. Bond prices fell and yields climbed, with the 10-year yield topping 5% during the day.
Why It Matters
Prices are still rising faster than the Fed wants. Higher yields make borrowing costlier for companies and homebuyers and can weigh on stock valuations. See our core inflation explainer and bond yield guide for key terms, or read why stocks can rise even when interest rates are high.
Market Impact
Equities
Stocks and bonds both fell right after the report, then stocks recovered
Rates
10-year yield back at about 5%; 5-year up 8 basis points to 4.77%
FX
Dollar firmer as higher US yields draw money into US assets
Commodities
Gold fell about 2.5% on Tuesday
Fed Governor Waller opens the door to a half-point rate hike in December
What Happened
Federal Reserve Governor Christopher Waller said on Tuesday, November 10, that he may support a half-point rate hike next month, depending on the data. He said he leans toward a quarter-point increase but has left larger moves open. His comments came just before the October inflation report.
Why It Matters
The Fed has been debating rate increases, not cuts. Each inflation report now changes how big the next move could be. Learn how the Federal Reserve works, or see why the Fed might raise rates after markets expected cuts.
Market Impact
Equities
Pressure on growth stocks was brief; the Nasdaq still ended up 1.6% on Wednesday
Rates
Short-term yields rose; the 10-year was up nearly 13 basis points from Monday's close
FX
Supportive of the dollar
Commodities
Gold under pressure because higher yields make it less attractive
Gold slips below $4,000 while silver rebounds
What Happened
Gold fell about 1.1% on Wednesday, November 11, to roughly $3,988 an ounce, as yields near 5% and a firm dollar weighed on the metal, after it dropped about 2.5% on Tuesday following the hot inflation report. Silver rebounded 2.2% to $52.67. Gold is down about 4.6% over the past month.
Why It Matters
Gold pays no interest, so rising yields make it less attractive to hold. For more on how yields, the dollar and gold connect, see why gold jumped after Treasury expanded bond buybacks.
Market Impact
Equities
Not a direct driver
Rates
Yields near 5% make non-interest-paying gold less attractive
FX
Firm dollar adds pressure on gold
Commodities
Gold -1.09% to about $3,988 an ounce; silver +2.2% to $52.67
Oil edges higher, with Brent near $93 a barrel
What Happened
US crude oil (WTI) futures traded near $87 a barrel on Wednesday, November 11, up about 1.2% on the day. Brent was quoted at $93.49 in later trading, about 2.1% higher. Price quotes varied by source because of timing differences.
Why It Matters
Oil prices feed into gas prices and overall inflation, which the Fed is watching closely.
Market Impact
Equities
Energy shares diverged from tech
Rates
Higher oil adds to inflation worries
FX
Oil-linked currencies mixed
Commodities
WTI about $87 a barrel (+1.2%); Brent about $93.49 in late trading
Historical Perspective
Similar Event
In October 2023, the 10-year Treasury yield reached 5% for the first time in about 16 years as investors expected rates to stay high.
What Happened Then
Stocks fell for several weeks, with the S&P 500 dropping roughly 10% from its July 2023 peak by late October. They then rallied strongly in November 2023 as yields eased, showing how closely stocks track bond yields.
What to Watch Next
- →November 12, 8:30 AM ET: US initial jobless claims for the week ended November 7 (prior: 189,000; forecast: 195,000)
- →November 13, 8:30 AM ET: US October Producer Price Index, which measures prices businesses charge (prior: +1.3% in September; forecast: +0.4%)
- →November 13: Core PPI for October, which excludes food and energy (prior: +0.7%; forecast: +0.3%), plus speeches by Fed officials Collins and Bowman
Analysis Confidence
Conviction Level:★★★★★
Key Uncertainties
Oil quotes differed across sources. Some data providers disagreed on exact timing and prices. October CPI has no 12-month rate because no October 2025 price data was collected. Thursday's trading was not available at the time of writing.
Sources
- • Yahoo Finance (Stock Market News for Nov 12, 2026) (2026-11-12)
- • Anadolu Agency (2026-11-12)
- • HDFC Sky (2026-11-12)
- • Rio Times (2026-11-12)
- • The Motley Fool / Yahoo Finance (2026-11-11)
- • CNBC (2026-11-11)
- • USAGOLD (2026-11-11)
- • CNBC (Treasury yields) (2026-11-10)
- • Yahoo Finance (Waller) (2026-11-10)
- • Seeking Alpha (2026-11-10)