Stock Market Today (Nov. 10, 2026): Nasdaq falls after key inflation report

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Happy Tuesday. Stocks were falling as Wall Street weighed a key economic report that renewed inflation fears.

The consumer price index, a broad gauge of costs across the U.S. economy, increased a seasonally adjusted 0.4% in October. Economists surveyed by Dow Jones had expected a 0.3% increase.

Excluding volatile food and energy costs, so-called core CPI increased 0.3%, compared with expectations for a 0.2% gain.

“Tuesday’s CPI was stronger-than-expected, which sets the stage for another rate hike in December, as it’s clear the Federal Reserve can’t ignore the obvious uptick in the inflation data,” said Skyler Weinand, chief investment officer at Regan Capital.

“Voters expressed their frustration with inflation and rising prices in the midterm elections, so the Fed must follow through in raising interest rates to curb further inflation.”

Weinand noted that the most recent jobs report, showing strong job growth in October along with upward revisions to previous months, “was the cover the Fed needs to be able to keep raising interest rates.”

“It’s clear the Fed can hike a little bit more in an effort to calm inflation without harming the labor market, as the labor market is already on sound footing,” he said. “The big driver of inflation has been oil prices, and we don’t think the Iran conflict will end anytime soon, which means that oil prices and inflation are likely to stay elevated for the foreseeable future.”

While oil prices and bond yields fell following the midterm elections on hopes that the Iran conflict would end sooner than expected, Weinand said, “we don’t think the Trump administration will throw in the towel that quickly on the Iran conflict.”

“Stocks have taken a beating of late and have seen a large rotation out of AI plays and into more durable and defensive sectors like healthcare,” he said. “This has roiled some leveraged funds and momentum players, but earnings should continue to benefit from high levels of government and corporate spending.”

Markets closed higher Monday as investors engaged in broad-based dip-buying following a heavy sell-off in AI and technology stocks.

This story was originally published by TheStreet on Nov 10, 2026, where it first appeared in the Stock Market Today section. Add TheStreet as a Preferred Source by clicking here.