Market Summary - November 13, 2026

Key Takeaways

• The WIG20 index reached a new historical high, surpassing 4,300 points.
• US headline producer price inflation decreased to 6.5% year-on-year in October.
• Nvidia shares fell following the resignation of CEO Jensen Huang.
• Bitcoin experienced its largest decline in months, dropping below critical support levels.

Equity Markets

The Warsaw blue-chip index, WIG20, had a remarkable session, breaking above the 4,300 level, driven by strong demand for domestic equities and positive GDP growth data from Statistics Poland. Meanwhile, Western European stock exchanges remained near record highs, although the luxury goods sector faced selling pressure, particularly affecting Richemont group.

In the US, Wall Street attempted to recover from a challenging week, but faced resistance from the technology sector amid rising uncertainty regarding semiconductor companies. The S&P 500 was down 0.72% for the day but up 2.2% for the week, while the Nasdaq 100 fell 1.52% for the day but gained 3.17% over the week.

Macroeconomics and Central Banks

The October producer price inflation report in the US indicated a cooling trend, with headline PPI at 6.5% year-over-year, slightly below the forecast of 6.6%. This led to a decrease in Treasury yields and eased concerns about aggressive interest rate hikes. However, comments from Federal Reserve officials suggested a cautious outlook, with Mary Daly highlighting the loss of purchasing power among consumers.

European Central Bank representatives also expressed concerns about inflation risks, with Joachim Nagel noting a deteriorating economic outlook for the Eurozone.

Corporate News

The semiconductor sector was notably affected by the resignation of Nvidia's CEO, leading to a drop in its stock price. Microsoft shares stabilized after a recent global outage, while Palo Alto Networks received positive analyst support. Apple shares rose slightly, while Nvidia continued to decline significantly.

Foreign Exchange Markets

The US dollar exhibited volatility, initially weakening due to lower wholesale inflation but later strengthening on hawkish comments from Federal Reserve members. The Polish złoty struggled against both domestic and external pressures, while the Japanese yen surged amid speculation of intervention by the Bank of Japan.

Commodities

The crude oil market remained stable around local lows, influenced by geopolitical factors and supply-demand dynamics. Precious metals faced selling pressure, particularly silver, which fell further from the $50 per ounce mark. The EIA reported a slight build in US natural gas inventories.

Cryptocurrencies

The cryptocurrency market faced a significant sell-off, with Bitcoin dropping below key support levels and the Crypto Fear & Greed Index indicating extreme fear among investors. Reports of losses at Metaplanet due to BTC reserve write-downs added to the negative sentiment.