01 Stock Market

As of Nov 11, the U.S. major indexes closed as follows: Dow Jones down 0.30% at 52231.89; S&P 500 down 0.38% at 7520.93; NASDAQ down 0.74% at 25065.88. The session was pressured by hotter inflation readings and renewed concern that the Fed may keep policy restrictive for longer. Technology shares were a notable drag, while rate-sensitive sentiment stayed fragile through the close.

Unusual-move stocks were mixed, with semiconductors and AI-linked names showing sharp dispersion. NVIDIA declined 5.47% to $168.89, Broadcom rose 3.91% to $331.98, and Taiwan Semiconductor Manufacturing gained 2.02% to $396.48. Among other notable movers, Rocket Lab USA, Inc. advanced 6.54% to $62.71, Rigetti fell in after-hours trading after earnings, while CoreWeave, Inc. slipped 0.51% to $48.73 amid debate over spending and debt. In the broader watchlist, MindForge Inc. surged 17.93% to $16.90, Tantech jumped 58.01% to $30.56, and Erayak Power Solution Group Inc. climbed 18.94% to $0.70.

Broader sector names also reflected the day’s defensive tone, with several growth and China-linked stocks under pressure. Legend Biotech declined 15.97% to $20.41, Futu Holdings Limited fell 5.44% to $95.48, JinkoSolar declined 6.67% to $10.07, and Lufax fell 8.50% to $7.21. On the upside, Aurora Mobile Ltd rose 8.40% to $5.76, GigaCloud Technology Inc gained 4.11% to $61.77, and GTEC advanced 8.26% to $0.53. The pattern suggests investors are still rewarding stock-specific catalysts even as the overall market weakens.

02 Other Markets

U.S. 10-year Treasury yield rose by 0.00%, latest at 4.98.

USD/CNH rose 0.0015%, at 6.72; USD/HKD fell 0.0090%, at 7.84.

U.S. Dollar Index rose 0.00%, at 102.23.

WTI crude futures rose 0.28%, at 86.28 USD/bbl; COMEX gold futures rose 0.27%, at 4041.10 USD/oz.

03 Top News

1. Rigetti Computing reported weaker-than-expected quarterly results and guided below consensus. The quantum-computing company posted an adjusted loss of $0.06 per share versus an expected loss of $0.05. Revenue came in at $1.4 million, well below estimates, and the company projected full-year revenue of about $20 million, also under the Street view. Shares fell sharply in after-hours trading as investors reassessed execution risk.

2. CoreWeave raised its revenue outlook after beating quarterly estimates. The cloud-infrastructure company said demand for its services remained strong and lifted its annual forecast. Management also highlighted $9 billion of customer prepayments and deposits expected to arrive over the next few months. The stock turned volatile as the market weighed growth against heavy debt and spending.

3. Anthropic launched Claude Sheets and expanded its product suite. The company introduced a spreadsheet tool designed to let users build and organize sheets from prompts. It also rolled out Claude Whiteboards and renamed its data-visualization product. The launch pressured Microsoft shares, as investors viewed the new tool as a direct software challenge.

4. Federal Reserve officials signaled a more aggressive stance after hotter inflation data. Fed governor Christopher Waller said a larger rate increase could be warranted if inflation stayed stubborn. Dallas Fed President Lorie Logan also suggested policymakers may need to move faster in the near term. The comments reinforced market concern that borrowing costs may remain elevated.

5. U.S. consumer prices rose more than expected, reviving rate-hike fears. The latest inflation report showed broad price pressures remained firm, prompting a selloff in bonds and risk assets. Traders quickly repriced the odds of further tightening. The move helped push Treasury yields higher and weighed on equities.

6. Nvidia’s board opened an independent investigation into national-security concerns tied to CEO Jensen Huang. The company said law firm Wachtell Lipton will lead the review. The probe follows reports involving Huang’s relationship with an executive suspected of working for Chinese intelligence. The development added a new governance overhang for the chipmaker.

7. U.S. officials and lawmakers increased scrutiny of Nvidia’s China exposure. Reports said the FBI is investigating the matter, and Congress may act to make China sales harder for the company. The added political risk comes as Nvidia remains central to the AI hardware cycle. Investors have become more sensitive to any disruption in its overseas business.

8. Adobe expanded its partnership with Google to integrate AI and creative tools. The companies said Adobe Acrobat will be brought into Google Workspace and Google’s AI models will be integrated into Adobe apps. The collaboration aims to streamline workflows and broaden product reach. The announcement underscores how major software platforms are racing to embed generative AI features.

9. Goldman Sachs said U.S. consumers have remained resilient despite higher energy costs. The firm said spending held up better than expected even as inflation and oil prices pressured households. It projected continued support from real income growth and household wealth. The view offers some offset to the day’s more cautious macro tone.

10. The Federal Reserve’s Lorie Logan said policymakers may need to accelerate rate increases this winter. Her remarks came after data showed inflation was firmer than expected. Logan reiterated that at least two more quarter-point hikes may be needed to make policy restrictive. The message strengthened the market’s focus on higher-for-longer rates.

Sources: Reuters, Dow Jones, Tiger Newspress, public market dataDisclaimer: This content is for reference only and does not constitute investment advice.