TradingKey Daily Market Briefing: US Stocks Retreat as CPI Tops Estimates; Nvidia Falls Over 5%, AMD and Broadcom Buck the Trend
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TradingKey - On November 10, the three major U.S. stock indices edged lower. U.S. October inflation data exceeded market expectations, driving Treasury yields rapidly higher and putting tech stocks under pressure, with the Nasdaq leading the declines; oil prices continued to retreat, failing to fully offset market concerns over further policy tightening by the Federal Reserve.
The Dow Jones Industrial Average fell 0.30% to 52,231.89 points; the S&P 500 Index dropped 0.38% to 7,520.93 points; and the Nasdaq Composite Index slid 0.74% to 25,065.88 points.
In terms of sectors and individual stocks, performance across the AI industry chain diverged. Nvidia (NVDA) fell 5.47%, becoming the primary drag on the S&P 500 Index; SanDisk () dropped 2.99%, and Micron (MU) fell 1.1%. However, Broadcom (AVGO) rose 3.91%, and AMD (AMD) climbed 1.3%.
In commodities, Brent crude (UKOIL) fell 0.2% to $92.01; WTI crude (USOIL) rose 0.07% to $86.43. Gold (XAUUSD) dropped 2.61% to $4,032.73 per ounce. A stronger dollar and surging U.S. Treasury yields dampened the appeal of gold.
In cryptocurrencies, Bitcoin (BTC) fell 2.09% to $73,796; Ethereum (ETH) dropped 3.84% to $2,053.
Market News
CoreWeave (CRWV) third-quarter revenue rose to $3.661 billion, and it raised its full-year guidance. The company's third-quarter revenue grew significantly from $1.365 billion in the prior-year period, with its revenue backlog reaching $132.5 billion; full-year revenue guidance was raised to $13 billion to $13.3 billion, and adjusted operating profit guidance was raised to $1.275 billion to $1.375 billion. The company posted a net loss of $709 million for the quarter, while interest expenses remained high.
Nvidia (NVDA) faces a proposed class action lawsuit filed by shareholders. The plaintiffs allege that the company and CEO Jensen Huang failed to adequately disclose relevant risks; Nvidia's independent directors have retained an outside law firm to conduct an independent investigation. The allegations remain pending before the court, and Nvidia did not immediately respond to a request for comment.
Google parent Alphabet (GOOGL) launches two new TPU systems. Google unveiled TPU 8tx and TPU 8i Max, targeting confidential inference and ultra-long context AI workloads, respectively; with this, the company has introduced four eighth-generation TPU systems this year, continuing to expand its custom AI chip lineup.
Anthropic reportedly begins IPO pricing preparations. According to an AP report, Anthropic has submitted filings to regulators seeking to sell shares at a valuation of approximately $1.3 trillion; the company is not yet listed, and relevant offering arrangements remain subject to subsequent pricing and regulatory processes.
U.S. October CPI rose 0.4% month-over-month. Shelter costs rose 0.3%, contributing to more than 30% of the monthly increase; due to missing October 2025 data, the Bureau of Labor Statistics did not publish the year-over-year inflation rate for this month.
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