Opening Comment — Wednesday, November 11, 2026
DJIA: 52,231.89, down 157.86
S&P 500: 7,520.93, down 29.01
NASDAQ: 25,065.88, down 187.26
Stocks higher amid AI rebound
Stock futures are higher before the opening bell Wednesday as markets continue to recover from last week’s artificial intelligence (AI)-related sell-off following strong technology earnings. Market participants are also focused on other key economic releases, including October existing home sales on Thursday and the Producer Price Index (PPI) on Friday. As of 6:00 AM ET, the Dow is rising 0.1%, while the S&P 500 is up 0.8%. The Nasdaq 100 is increasing 1.8% relative to fair value on the GLOBEX. Over in bond land, markets are closed for Veterans Day.
U.S. equities were lower and Treasury yields were higher on Tuesday as hotter-than-expected inflation data fueled prospects for a December Federal Reserve rate hike, with headline and core Consumer Price Index (CPI) rising 0.4% and 0.3% month-over-month (MOM), respectively. The Dow was down 0.3%, while the tech-heavy Nasdaq Composite fell 0.7%. The S&P 500 decreased 0.4% with six of 11 sectors finishing in negative territory. The Financials sector was the top performer, rising 0.5%, while the Information Technology sector was the bottom performer, falling 1.4%. The yield on the 10-year note was up 11 basis points (0.11%) to 4.99%, while the 30-year bond yield rose seven basis points (0.07%) to 5.35%. The yield on the two-year note increased 18 basis points (0.18%) to 4.74%.
On the data front, the Mortgage Bankers Association’s gauge of mortgage applications increased by 6.2% for the week ending November 6 versus the prior week’s decrease of 1.2%.
Municipal market commentary
None at this time.
Across the pond, European stocks are mixed in mid-day trading as Germany’s finalized CPI was unchanged from the preliminary reading, falling 0.2% MOM and rising 2.8% year-over-year (YOY).
Overnight in Asia, stocks were mostly higher as South Korea’s October unemployment rate edged down to 2.5% from 2.6%, against expectations of holding steady. Japan’s October Eco Watchers Survey unexpectedly weakened, with the current conditions index falling to 46.1, while the outlook index also declined more than expected to 46.5. The country’s preliminary October machine tool orders increased 42.5% YOY, down from 60.4% previously.
In FOREX trading, the U.S. dollar is higher as investors look ahead to the U.S. PPI data due Friday.
Over in the commodity pits, West Texas Intermediate (WTI) crude oil is 0.8% higher at $86.70/barrel and Brent crude oil is up 1.4% at $92.79/barrel amid concerns over the progress of Middle East peace agreements.
In the metals complex, gold is 0.4% higher at $4,047.56/ounce despite a strengthening U.S. dollar.