Bitget UEX Daily | Stocks Rally as Nvidia Falls; Oil Slump Eases Inflation Fears; CPI Takes Center Stage (November 10, 2026)

I. Hot News Highlights

Energy | Oil Slides as Supply Risk Premiums Retreat

US signals favoring diplomacy with Iran reduced concerns about renewed military escalation. December WTI futures fell 4.38% to settle at $86.85 per barrel; January Brent declined 5.85% to $92.57.

Lower oil improves the outlook for corporate costs and inflation, supporting equities. Diplomatic progress remains distinct from a final agreement; the immediate change is in the market’s pricing of supply risk.

US Economy | Inflation Expectations Hold, Employment Concerns Rise

The New York Fed’s October survey, released November 9, showed one-, three- and five-year inflation expectations unchanged at 3.9%, 3.3% and 3.0%. The average perceived probability of higher unemployment rose to 45.3%, its highest since April 2020.

Households did not raise inflation expectations but became more concerned about employment. This offers a different perspective from strong payrolls. Tonight’s CPI will provide evidence on actual price pressure and whether expectations of tightening can ease further.

China Prices | Mild Consumer Inflation Contrasts with Upstream Pressure

October CPI rose 0.7% year over year and core CPI increased 0.8%. PPI rose 5.7% annually and 0.7% monthly, with energy-related industries an important driver.

Consumer and upstream prices are diverging, so cost pressure and pricing power differ across businesses. Margins and cost pass-through matter more than treating higher PPI as proof of a broad demand recovery.

II. Market Review

Commodities and Foreign Exchange

A weaker dollar supported precious metals, while falling oil eased energy inflation concerns. Treasury yields nevertheless rose. Assets are reversing some pessimistic pricing without a simultaneous removal of rate pressure.

Cryptocurrency Performance

BTC trades at 75,080.92 USDT, down 0.23% over 24 hours; ETH trades at 2,128.46 USDT, down 0.69%, with quotes observed around 09:49–09:51 Beijing time. Total crypto capitalization is approximately $2.52 trillion, down 1.81%, with 24-hour volume of approximately $75.568 billion; aggregate figures were independently updated at 09:26.

BTC / ETH Liquidation Zones: Verifiable current liquidation zones were not obtained. Upper and lower ranges, distances and nearer-side assessments are omitted.

Institutional Cost Basis | BTC: Strategy’s latest November 9 disclosure reports 850,364 BTC at an aggregate average cost of $75,456. Using the contemporaneous dollar-denominated coin price, BTC is approximately 0.65% below that basis, indicating a reference unrealized loss. This is the overall holdings basis, not the average price of the latest purchase.

Market Takeaway: BTC remains contested around $75,000, and crypto has yet to match the strength of the equity recovery. Watch the dollar and Treasury yields after CPI, and whether BTC can hold around the institutional cost reference. Institutional cost is neither fresh buying nor guaranteed support.

Major US Equity Indexes

Market Moves Explained

Market Performance: All three major indexes gained more than 2%, and six Magnificent Seven stocks rose. AMD gained 13.26%, while Nvidia fell 4.27%, showing separate pricing of industry recovery and company-specific risk.

Logic 1: Lower oil eases cost and inflation concerns. Falling energy prices improve earnings expectations and reduce fears of a persistent energy-driven price shock, providing macro support for the rebound.

Logic 2: Previously pressured AI infrastructure shares continue recovering. Gains in AMD and other chipmakers reflect a reassessment of the preceding selloff. Construction and regulatory uncertainty remain, but potential constraints are being distinguished from actual lost orders.

Logic 3: Nvidia faces additional company-specific pressure. An independent board investigation adds governance uncertainty, preventing the stock from joining the chip rally. A broad rebound does not remove every company’s individual issues.

Magnificent Seven

Tesla and Meta led gains, with Nvidia the sole decliner. Platforms, automakers and chip suppliers have different drivers; one heavyweight’s decline does not describe the whole technology sector.

Sector Moves

Semiconductors: AMD rose 13.26%, sharply contrasting with Nvidia’s decline. Focus is shifting from whether the sector rebounds to customer demand, delivery and individual risks.

Power and Alternative Asset Management: Constellation gained 10.46% and KKR rose 1.67%, both supported by earnings released that day. Operating improvement provided company-level evidence alongside the broader rally.

III. In-Depth US Equity Analysis

Nvidia | Independent Review Overshadows the Sector Rebound

Event Overview: Nvidia fell 4.27% to $178.67. Its board announced an independent investigation on November 8 into security issues raised in external reporting. It said it had no reason to believe national security or company secrets were compromised and continued to support Jensen Huang and his leadership team.

Market Interpretation: The additional pressure concerns governance and the outcome of the review. A stock decline does not establish damage to orders or product competitiveness, while the board statement does not mean the inquiry is complete.

Investment Implications: Monitor board updates, leadership arrangements and customer partnerships to assess whether governance uncertainty begins affecting execution.

Constellation | Earnings Delivery and Higher Full-Year Guidance

Event Overview: Q3 GAAP EPS was $5.19 and adjusted operating EPS was $5.06, versus $3.04 a year earlier. Full-year adjusted operating EPS guidance narrowed to $12.50–$12.80 with a higher midpoint. Shares rose 10.46% to $276.09.

Market Interpretation: Results and revised guidance provide operating evidence for power demand and the business mix. Value realization still depends on generation capacity, contract terms and commissioning, rather than a uniform AI valuation narrative.

Investment Implications: Watch nuclear uprates, long-term supply contract execution and financing costs. The disclosed DOE loan commitment of up to $5 billion is conditional and requires further agreements.

KKR | Adjusted Profit Growth Highlights Recurring Earnings

Event Overview: Q3 adjusted net income was approximately $1.645 billion, up 29%, with adjusted EPS of $1.78. Fee related earnings were approximately $1.3 billion, up 27%. Shares gained 1.67% to $98.09.

Market Interpretation: Fee related earnings support recurring profitability, but adjusted income differs from GAAP and includes multiple business contributions. Durability depends on fee-paying assets, fundraising and investment exits.

Investment Implications: Track the conversion of new fundraising into fee-paying assets and the pace of exit proceeds. A strong realization quarter should not automatically be extrapolated across every quarter.

IV. Market & Project Updates

Strategy updates purchases and aggregate cost: Its November 9 disclosure reported 1,036 BTC acquired during November 2–8 for approximately $81.9 million, averaging $79,012. Weekly purchases and the aggregate cost basis are different measures; the disclosure does not establish today’s buying.

Nvidia expands Korean sovereign AI collaboration: Nvidia, Rebellions and SK Telecom plan to combine NVLink Fusion, Korean-designed NPUs and data-center capabilities. R200 systems are expected to be ready for deployment in 2028. Planned collaboration is not realized revenue.

CoreWeave earnings are in focus after tonight’s close: The company schedules its Q3 earnings call for November 10 at 17:00 Eastern, or November 11 at 06:00 Beijing time. Watch order conversion, project delivery and financing costs. Unreleased results are not included.

V. Today’s Market Calendar

Event Outlook: Focus on monthly core inflation, followed by the dollar and yield reaction. Last night’s oil decline affects future inflation expectations and does not establish a low October CPI reading. Household debt data will add evidence on credit-card and auto-loan stress.

Institutional View: In November 9 market commentary, Morgan Stanley and UBS described the preceding AI-stock selloff as excessive and saw a low risk of extreme data-center regulation. These are policy assessments that still require confirmation from actual rules and project execution.

For market information only; not investment advice.