Market Summary - November 10, 2026

Key Takeaways

• Wall Street experienced its best session since April, with the S&P 500 rising by 2.3% and the Nasdaq 100 gaining 3.4%.
• Crude oil prices fell over 5% due to reports of a potential nuclear deal with Iran and reduced strike risks.
• Chinese exports surged by 35.2% year-on-year in October, driven by strong global demand for AI hardware.

Wall Street Performance

On Monday, Wall Street saw a significant rebound after earlier declines. The S&P 500 gained 2.3%, the Nasdaq rose by 2.7% (with the Nasdaq 100 up by 3.4%), and the Dow Jones added over 400 points. This surge was primarily driven by bargain hunting in semiconductor stocks and a decrease in energy prices, which alleviated inflationary pressures.

Current futures indicate a calming sentiment in the market, with the US500 up 0.14%, US100 slightly down by 0.16%, and US30 up by 0.34%. The market fear index, VIX, dropped by 1.85% to 19.66 points, signaling a return of capital to risk assets.

Asian Market Update

Asian stock markets continued their technical rebound, with South Korea's KOSPI rising by 3.7% and Japan's Nikkei 225 surging by 2.4%. However, momentum cooled slightly towards the end of the session, with mixed performances across various indices.

The positive momentum was attributed to a recovery in the artificial intelligence sector and relief in the oil market, although concerns over new trade frictions with the US persisted in mainland China.

European Market Outlook

Morning futures for European indices indicate a positive start, with the DAX up 0.28% and the Euro Stoxx 50 gaining 0.27%. The French CAC 40 is catching up with gains from Wall Street, rising by 1.98%.

The European volatility index, VSTOXX, fell by 14.56%, reflecting reduced fears over the escalation of the Middle East conflict.

Currencies and Commodities

Crude oil prices stabilized after a significant drop, with Brent crude trading around $91.79 per barrel. Precious metals like gold and silver saw slight corrections as capital flowed into riskier assets.

In the FX market, currencies remained stable ahead of the US CPI report, with minor fluctuations observed in major pairs.

Macroeconomic Data

China's October trade balance showed dollar-denominated exports surged by 35.2% year-on-year, driven by AI hardware demand. Japan's household spending disappointed with a decline of 6.8% year-on-year, marking the tenth consecutive month of decline. In Australia, consumer sentiment fell to a four-year low following rate hikes.

Key Information Overnight

Donald Trump indicated that military strikes on Iran are "highly unlikely," suggesting a potential thaw in relations. Reports suggest a possible agreement involving the unblocking of the Strait of Hormuz in exchange for concessions from Iran.

In the AI sector, Anthropic raised $26 billion from tech giants and unveiled new models, while regulatory scrutiny increased following a data leak incident.

Looking Ahead

Key events to watch include speeches from central bank officials and the release of the US CPI inflation report, which is expected to influence market sentiment significantly.