Stock Market Today: Hotter CPI Reading Hasn’t Deterred Stocks From Rising

Rich Duprey

Tue, November 10, 2026 at 9:24 AM EST 4 min read

Quick Read

Hot CPI data stalls the open: Nasdaq-100 proxy QQQ slips 0.4% while Dow proxy DIA gains 0.4%, as money rotates from tech into blue chips.
Small caps in IWM sit flat, signaling investors don’t expect cheaper borrowing soon, a mood that makes tech-heavy portfolios the most exposed.
CoreWeave reports after the close, with analysts expecting about $4 billion in revenue, testing whether AI infrastructure demand holds up.
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A hotter-than-expected Consumer Price Index report initially put a lid on Tuesday’s open. CNBC reported S&P 500 futures fell after the CPI data reignited inflation concerns. Yet, the S&P 500, the SPDR S&P 500 ETF Trust (NYSEARCA:SPY), and tech stocks are all moving higher.

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Where Stocks Stand Before the Opening Bell

Inflation Puts Rate Relief at Risk

This CPI miss matters because the Fed has been tightening. The upper bound of the fed funds target moved to 4.00% from 3.75% in mid-September. A hot inflation reading makes rate relief less likely.

The bond market had been offering some help. The 10-year Treasury yield was 4.86% Friday, down from 5.21% on October 13. If the CPI report pushes yields back up, growth stocks feel it first.

Tech Gives Back Part of Monday’s Rally

On Monday, the Dow surged, and the Nasdaq climbed as tech rebounded from last week’s turbulence. This morning, the Dow proxy is higher while the Nasdaq-100 is lower. That split points to money moving out of rate-sensitive growth stocks and into blue chips.

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