Futures flat as Waller backs a hike and chip stocks slide before CPI

Published Nov 10, 2026, 8:01 AM ETUpdated 8:36 AM ET✓ Numbers checked against source data

Rate-hike worries and a chip-stock selloff set the tone before today's CPI report. S&P 500 futures are flat, Nasdaq 100 futures are lower and Dow futures are higher. Take-Two rises on GTA 6 news; Rocket Lab falls.

Futures

S&P 500 futures are flat at +0.02%. Nasdaq 100 futures are down 0.38%, while Dow futures are up 0.38%. Russell 2000 futures are little changed at -0.03%. Tech is the weak spot ahead of the inflation report.

Macro & overnight

Fed Governor Christopher Waller backed an interest-rate hike in December, just hours before the October CPI report. That stalled the stock rebound. Markets already price in a high chance of a December hike: CME FedWatch shows above 80%.

Oil briefly fell below $90 a barrel for the first time since August on hopes for a Middle East peace deal. That eased inflation worries.

Nvidia fell sharply on Monday. Investors are questioning CEO Jensen Huang's future after an internal investigation into whether a foreign intelligence effort had targeted him. That is weighing on chip stocks.

Themes

Semiconductors ▼ median −3.17%: MRVL −4.27%, ADI −3.68%, INTC −3.59%, ON −3.34%, ARM −3.32%, MCHP −3.20%, and 7 more

Networking & optical ▼ median −4.63%: LITE −5.55%, COHR −5.45%, CIEN −4.63%, GLW −4.27%, ANET −2.82%

Electrical & grid infrastructure ▼ median −2.78%: GEV −7.00%, BE −4.78%, GNRC −3.10%, ETN −2.45%, PWR −2.36%, FIX −2.23%

Semiconductors are lower. Marvell (MRVL) fell 4.27%, Analog Devices (ADI) 3.68% and Intel (INTC) 3.59%. ON Semiconductor (ON), Arm (ARM) and Microchip (MCHP) each lost more than 3%.

Networking & optical names fell too. Lumentum (LITE) dropped 5.55% and Coherent (COHR) 5.45%. Ciena (CIEN) lost 4.63%, Corning (GLW) 4.27% and Arista (ANET) 2.82%.

Electrical & grid infrastructure stocks also declined. GE Vernova (GEV) fell 7.0% and Bloom Energy (BE) 4.78%. Generac (GNRC) lost 3.1%, Eaton (ETN) 2.45%, Quanta Services (PWR) 2.36% and Comfort Systems (FIX) 2.23%.

Biggest premarket movers

Company	Reason	Last	Change
Take-Two Interactive TTWO	Take-Two's CEO said GTA 6 preorders have significantly exceeded initial expectations ahead of the Nov. 19 launch, outweighing a decline in quarterly net bookings.	$213.53	+2.95%
Dollar Tree DLTR	No clear news	$139.99	+2.01%
Charles River Laboratories CRL	No clear news	$359.30	+1.75%
CBRE Group CBRE	No clear news	$140.50	+1.69%
Rocket Lab RKLB	Rocket Lab's Q3 report showed the net loss widening to $79.677 million from $18.257 million a year earlier, offsetting record revenue and weighing on the shares after a big run-up.	$53.24	−9.55%
GE Vernova GEV	No clear news	$771.00	−7.00%
Lumentum LITE	No clear news	$563.07	−5.55%
Coherent COHR	No clear news	$212.83	−5.45%

Take-Two (TTWO) rose 2.95%. It reported quarterly earnings of 99 cents per share, above the 94 cents analysts expected. The CEO said GTA 6 preorders have significantly exceeded initial expectations ahead of the Nov. 19 launch.

Dollar Tree (DLTR) gained 2.01%, Charles River Laboratories (CRL) 1.75% and CBRE Group (CBRE) 1.69%.

Rocket Lab (RKLB) fell 9.55%. Its net loss widened to $79.677 million from $18.257 million a year earlier, which offset record revenue after a big run-up. The company also targets Neutron's first launch for no earlier than 2027.

GE Vernova (GEV) fell 7.0%. Lumentum (LITE) and Coherent (COHR) each lost more than 5%.

What to watch

8:30 AM ET October CPI · ✓ Released · Release

The October CPI report is the key event for the open. With a December rate hike already largely priced in, the inflation data could shape how traders view the Fed's next move.