Key Highlights

  • Early snapshots on November 10, 2026 showed Dow futures up roughly 0.4% to 0.5% and S&P 500 futures up about 0.1% to 0.2%, while Nasdaq-100 futures dipped to just under unchanged.
  • The previous session brought the S&P 500 to 7,549.94 after a 2.35% surge, its strongest showing since April, and the iShares Core S&P 500 ETF (NYSEARCA:IVV) matched that 2.35% gain.
  • Pre-open readings put S&P 500 futures around 7,582.75, Dow futures close to 52,691 and Nasdaq-100 futures near 27,978.75, with Russell 2000 futures modestly firmer.
  • CPI data is scheduled for 8:30 AM ET, with analysts forecasting a 0.3% headline gain month over month and a 0.2% core increase, while Options price an S&P 500 move near 0.8% for the day.

Why Dow and Nasdaq Diverged

The uneven tone looks like a breather after a strong run. On November 9 the Nasdaq-100 gained 3.40% and chipmakers surged almost 7%, so some technology profit-taking ahead of a major data release seems plausible. The Dow carries heavier exposure to industrials, financials and consumer names, and it gained from further weakness in oil, with Brent dipping under USD 92 and WTI around USD 84.72 early on November 10. Cheaper energy helps airlines, transport firms and consumer businesses that make up a sizable portion of the Dow. Nvidia was pointing roughly 1.8% higher before the open after its 4.27% slide, which kept the Nasdaq from falling further. Abroad, Japan's Nikkei rose around 2.9% and reclaimed the 60,000 level, while South Korea's KOSPI climbed about 4%. Gold slipped to around USD 4,098 and Bitcoin sat near USD 74,300, which suggests risk sentiment was steady rather than exuberant.

How IVV Could Respond to the Inflation Print

IVV follows the S&P 500, so its direction hinges on whether CPI validates the relief rally. A core figure at or below 0.2% would back lower Treasury yields and might keep rate-sensitive groups climbing. A hotter result would lift the chances of a December Fed increase, already priced near 80%, and could give back part of Monday's gains. The 10-year yield hovered around 4.86% to 4.88% ahead of the release. With the VIX near 20, hedging is light going into the report, so a surprise could move prices sharply. IVV took in roughly USD 6.3 billion during the week to November 6, which suggests investors used the selloff to add exposure, a supportive signal for Demand on dips.

Other Catalysts Crowding the Calendar

The schedule extends well past CPI. A Fed keynote in the United Kingdom and comments from Governor Bowman later in the session will be parsed for their take on the data. The Treasury sells 10-year notes after a weak three-year auction on November 9. Before the bell, TransDigm, Sea and On Holding report results, while CoreWeave, Rigetti and D-Wave Quantum post after the close. China has extended, for two months starting November 10, its pause on an extra 24% Tariff on certain US imports, leaving a 10% levy in force, which supports the trade outlook. Bond markets shut on November 11 for Veterans Day while stocks keep trading, and producer prices come out on November 13. Lawmakers also confront a December 11 funding cutoff, a risk traders have begun to price in.

Where Things Stand

Futures were mixed early on November 10: Dow contracts were firmer, Nasdaq-100 contracts a touch lower, and traders booked some tech gains after the S&P 500's strongest day since April. The October inflation print, due at 8:30 AM ET, presents IVV holders with a binary outcome. Should Core Inflation come in soft, the rally would gain support, while a hot figure would lift December hike risk and weigh on rate-sensitive shares. Either way, the opening hour will likely hinge on the core number.