US Stock Market Today: S&P 500 Futures Nudge Higher On Jobs Strength Fed Uncertainty Bailey Pemberton Mon, November 9, 2026 at 8:09 AM EST 8 min read ^GSPC +0.31% RKLB +1.60% AXON +2.24% NTRA +1.17% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
US stocks are set for a mildly positive open, with sentiment driven almost entirely by a stronger than expected October labor report. Investors are reading the combination of solid hiring and firm wages as a test of the current soft-landing story.
Non farm payrolls rose 165,000 in October and the unemployment rate edged down to 4.1%, while average hourly earnings advanced 0.4% month over month and 3.1% year over year. Those figures keep demand for workers and underlying inflation pressure in focus for interest rate expectations.
A labor market that still absorbs workers at this pace can keep borrowing costs higher for longer, since policymakers have less urgency to ease. Higher wage growth can compress profit margins in labor intensive industries, while companies with pricing power may feel more comfortable passing on those costs.
The open now hinges on a single question: Does the wage and jobs strength push the Federal Reserve toward a hawkish tone in upcoming speeches and inflation data, or does easing longer term inflation expectations give cover for a more patient approach?
Tesla is widening its robotaxi rollout to San Antonio after launching the service in Austin in June 2025 and then adding more Texas and Florida cities. The move builds on fully driverless operations in Austin that began in January. Investors can monitor rider usage, safety data, and local regulation as Tesla expands beyond traditional car manufacturing.
NVIDIA is partnering with Rebellions and SK Telecom to support Korea's sovereign AI plans using NVLink Fusion technology. Rebellions plans to link its next generation R200 chips to NVIDIA's platform, and SK Telecom aims to deploy the systems in its AI data center. A separate warning about OpenAI valuations could influence sentiment related to AI infrastructure demand.
Incyte is moving two experimental cancer treatments for KRAS G12D-mutated pancreatic and colorectal cancers into late stage trials after early results showed strong objective response and disease control. Phase 3 studies are running or planned for 2027. For investors tracking biotech risk, key considerations include trial design, timelines, and how future data compare with existing oncology options.
Rocket Lab (RKLB) jumped 15.39% as traders reacted to the sharp rebound following extended share price losses.
Ubiquiti (UI) climbed 15.29% after record Q1 revenue, stronger earnings, a cash dividend, and a higher price target.
Coherent (COHR) advanced 13.58% after Citi raised its price target following strong quarterly results and updated guidance.
Axon Enterprise (AXON) fell 18.18% after cutting its 2026 revenue outlook, which triggered analyst target cuts and a legal investigation.
Atlassian (TEAM) declined 16.15% as multiple banks trimmed price targets following Q1 results and a cautious growth outlook.
Natera (NTRA) dropped 14.59% after analyst price target cuts and a surprise CEO transition, despite solid recent financial updates.
US inflation and a heavy slate of Fed speakers take over from payrolls as the next test for where borrowing costs and rate expectations head from here.
Fed Bowman, Goolsbee, Barkin speeches, Mon 9 Nov. After a 4.1% unemployment rate and 0.4% monthly wage gain, any pushback against easing expectations would keep pressure on rate sensitive pockets such as tech, small caps, and longer dated Treasuries.
US CPI and Core CPI, Tue 10 Nov. Headline inflation is forecast at 3.9% YoY with core at 2.8%. A print above those marks would reinforce the case for a higher for longer policy rate path and could lift the US dollar while weighing on growth stocks.
US PPI and Core PPI, Fri 13 Nov. Producer prices are projected to rise 0.4% on the month with core at 0.3%. A softer outcome would suggest less pricing pressure in supply chains, which would help margin sentiment for manufacturers and retailers.
Applied Materials (AMAT) Q4 earnings, Thu 12 Nov. Guidance on wafer fab equipment spending and foundry demand will matter most because it shapes how investors think about capital expenditure plans across the broader semiconductor supply chain.
Cisco Systems (CSCO) Q1 earnings, Thu 12 Nov. The focus is on revenue trends in networking hardware and software subscriptions, since those lines influence how investors read enterprise IT budgets and longer term demand for cloud and security gear.
Tech: Rate pressure hits AI heavy names
Tech has had a rough week, with the sector down about 7% over 7 days and weaker again over the past month, even though the 1 year return is still positive. Higher borrowing costs and fresh political focus on data centers after the Democratic midterms are making investors more careful about long payback AI and cloud projects.
If you hold big software, data or AI stocks, Thursday's US CPI report is the key macro check. A hotter inflation print can keep rate cut hopes in check, which tends to hurt sectors priced off earnings far into the future.
Semiconductors: Chip slump deepens as AI story questioned
Semiconductors have dropped sharply, with a roughly 11% 7 day fall and a softer 30 day patch, even after strong 1 year and year to date gains. Nvidia headlines around governance, export rules and dependence on AI data centers are reminding traders that this group is tied to policy and a narrow set of customers, not just phones and PCs.
If you own chip ETFs or GPU exposed stocks, Applied Materials Q4 numbers on Thursday are the main sector catalyst. Its guidance on wafer equipment and data center demand will show whether recent weakness is just sentiment or pointing to slower spending plans.
Energy & Oil and Gas: Strong year meets sharp weekly pullback
Energy and Oil and Gas have each fallen around 12% over the past week and are softer over 30 days, even though 1 year and year to date returns remain strong in the high 20s to low 30s. The group still trades on lower P/E multiples than its own 3 year average while earnings forecasts look more muted, so price moves are swinging more with crude and headlines than with profit upgrades.
If your portfolio includes US producers or midstream operators, this week's EIA crude and gasoline inventory data will matter for direction. Big inventory builds or draws can quickly affect pump prices and inflation expectations, which in turn influence how investors treat Energy compared with rate sensitive sectors.
Real Estate: Rate sensitive REITs find some support
Real Estate is positive over the past week and sits ahead of the US Market on 7 day, 30 day, year to date and 1 year returns, helped by steadier long term yields and solid October leasing data in places like Manhattan. The sector still trades on a high P/E compared with others, although that multiple is below its own 3 year average, which keeps attention on financing costs and dividend cover.
If you own REITs or property heavy ETFs, Thursday's US existing home sales report is worth your time. Signs of buyers stepping back again would underline how much higher mortgage rates are shaping both residential activity and what cap rates landlords need to make deals work.
Consumer Staples & Food, Beverage & Tobacco: Everyday spenders attract cautious cash
Consumer Staples and Food, Beverage & Tobacco have both gained over the past week and are ahead of the US Market across 7 day, year to date and 1 year periods as investors look for steadier cash flow. Companies like Dollar General and BJ's Wholesale are seeing interest tied to value focused shopping, while e.l.f. Beauty's Well People launch in Sprouts shows how brands try to tap wellness and clean label trends.
If you tilt toward supermarkets or branded food and drink stocks, Tuesday's CPI and Wednesday's MBA 30 year mortgage rate update form the backdrop. Any surprise on inflation or housing finance can affect how easily these businesses can pass costs through to shelf prices without losing stretched consumers.
If steadier long term yields and firmer REIT performance caught your eye, start with this list of list of solid balance sheet and fundamentals (25 results) to see which businesses already have stronger finances behind their payouts.
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