Stocks gave back part of Monday’s sharp relief rally at midday on Tuesday, November 10, 2026, after a hotter-than-expected October CPI print pushed Treasury yields higher and pressured growth stocks. The S&P 500 ETF (SPY) was down 0.89% at $746.00, the Nasdaq-100 ETF (QQQ) fell 1.42% to $669.69, the Dow ETF (DIA) slipped 0.46% to $520.91, and the small-cap Russell 2000 ETF (IWM) dropped 1.43% to $278.46. The VIX rose 3.41% to 20.60, and the 10-year Treasury yield jumped 13 basis points to 5.00%. Market breadth was thin, with advancing issues at just 17% of stocks and ETFs tracked.
Market Snapshot
| Index / Indicator | Price | Change |
|---|---|---|
| SPY (S&P 500) | $746.00 | -0.89% |
| QQQ (Nasdaq-100) | $669.69 | -1.42% |
| DIA (Dow Jones) | $520.91 | -0.46% (as of 10:23 AM ET) |
| IWM (Russell 2000) | $278.46 | -1.43% |
| VIX | 20.60 | +3.41% |
| 10-year Treasury yield | 5.00% | +13 bp |
Prices as of about 11:58 AM ET unless noted; VIX and 10-year yield as of 11:40 AM ET; breadth as of about 11:26 AM ET.
Sector Scan
Only three sectors were higher at midday, and the gains were small. Energy (XLE) led at +0.30%, followed by Consumer Staples (XLP) at +0.18% and Financials (XLF) at +0.12%. Technology (XLK) was the clear laggard at -1.93%, with Industrials (XLI) next at -0.97%. Intraday volume versus average was not reported by sources at midday.
| Rank | Sector ETF | Change |
|---|---|---|
| 1 | XLE — Energy | +0.30% |
| 2 | XLP — Consumer Staples | +0.18% |
| 3 | XLF — Financials | +0.12% |
| 4 | XLC — Communication Services | -0.33% |
| 5 | XLV — Health Care | -0.34% |
| 6 | XLU — Utilities | -0.42% |
| 7 | XLY — Consumer Discretionary | -0.50% |
| 8 | XLRE — Real Estate | -0.54% |
| 9 | XLB — Materials | -0.68% |
| 10 | XLI — Industrials | -0.97% |
| 11 | XLK — Technology | -1.93% |
Rotation Read
The tape flipped to risk-off after the 8:30 AM ET data. October CPI came in at 0.4% versus 0.3% expected, with core also beating expectations, and the 10-year yield jumped to 5.00% — a headwind for duration-sensitive growth and rate-sensitive Real Estate (XLRE). Fed Governor Waller has floated a possible half-point December hike if inflation stays hot, and markets now price better than an 80% chance of a December hike. That backdrop helped Financials (XLF) stay green while the rest of the board faded.
It is also a sharp reversal of the past week’s pattern. Through Monday’s close, Communication Services (XLC) led the week at +7.06% while Energy (XLE) lagged badly at -7.86% — today energy leads and tech lags. Monday itself was a broad relief rally: the S&P 500 rose 2.35% to 7,549.94, its best day since April 8, the Dow gained 1,104 points, the Nasdaq climbed 2.74%, all 11 sectors rose, and the VIX fell 22% to 19.92 as crude oil dropped more than 4%. Today gives some of that back, with the selling concentrated in tech: Nvidia (NVDA) was down about 4% in the morning amid the Jensen Huang governance controversy, and Wells Fargo cut its NVDA price target to $300 from $315. Technology (XLK) is now roughly 18% below its October 6 high.
Energy’s lead is notable because it came even as WTI crude fell 1.82% to $85.27, with Brent below $90 for the first time since August — energy stocks decoupled from oil today, led by E&P and pipeline names rather than the integrated majors. The defensive bid is selective, not broad: Consumer Staples (XLP) held up, but Utilities (XLU) and Real Estate (XLRE) sagged with yields. Bottom line: a hot CPI print repriced the December Fed path, and the market’s answer so far is to sell tech and buy the cheapest, most defensive corners — energy and staples — while financials benefit from the higher-rate talk.
Top Stocks in the Leading Sectors
Energy (XLE) — +0.30%
- EOG Resources (EOG) +2.16% at $151.63 — the day’s strongest large energy name; Susquehanna reiterated a Positive rating today and raised its price target to $196 from $187.
- Williams Companies (WMB) +1.59% at $67.51 — pipelines outperforming as midstream held up while crude slid.
- ConocoPhillips (COP) +0.49% at $135.13 — modestly higher while the integrated majors lagged: Exxon Mobil (XOM) was down 0.31% and Chevron (CVX) down 0.07%.
Consumer Staples (XLP) — +0.18%
- Philip Morris (PM) +1.12% at $195.28 — the sector’s top gainer at midday.
- Altria (MO) +0.82% at $76.44 — tobacco names leading the defensive bid.
- Procter & Gamble (PG) +0.66% at $169.43 — near its 52-week high. Coca-Cola (KO) was close behind at +0.64%, while Costco (COST) was the only large staples name in the red at -0.10%.
Charts
SPY
QQQ
DIA
IWM
VIX
XLE
XLP
XLF
XLC
XLV
XLU
XLY
XLRE
XLB
XLI
XLK
NVDA
EOG
WMB
COP
XOM
CVX
PM
MO
PG
KO
COST
Sources
- Finnhub — intraday quotes for SPY, QQQ, IWM, all 11 sector ETFs, and EOG, WMB, COP, XOM, CVX, PM, MO, PG, KO, COST, as of about 11:58 AM ET, November 10, 2026 (finnhub.io)
- Pulsafi — VIX 20.60 (+3.41%) and 10-year yield 5.00% (+13 bp) as of 11:40 AM ET (pulsafi.com)
- MarketBeat — DIA $520.91 (-0.46%) as of 10:23 AM ET; NVDA Wells Fargo price-target cut (marketbeat.com)
- InteractiveCrypto — market breadth at 17% as of about 11:26 AM ET (interactivecrypto.com)
- Wall Street Savage — October CPI 0.4% vs 0.3% expected; morning market notes (wallstsavage.com)
- Taylored Finance News — sector morning snapshot; Nvidia decline and Jensen Huang controversy; WTI down 1.82% to $85.27 (tayloredfinancenews.com)
- World Money Roadmap — one-week sector performance through November 9 close; Monday’s +3.7% XLK bounce (worldmoneyroadmap.com)
- Sell The News — morning index levels; NVDA -4.04% at 9:55 AM ET (sellthenews.org)