Wall Street rebounded hard on Monday. Tonight the market waits for October inflation data, the first reading since that rally.
The S&P 500 rose 173.08 points, or 2.3%, to 7,549.94 on Monday. The Dow Jones Industrial Average gained 1,104.02 points, or 2.2%, to 52,389.75, and the Nasdaq Composite climbed 673.71 points, or 2.7%, to 25,253.14, according to the AP.
Tech stocks bounced back after a rough week, and lower oil prices helped support the market. The week's full setup is in our weekly outlook.
Tonight, the October consumer price index (CPI) comes out at 8:30 a.m. ET, an hour before the US market opens.
Tonight's Watchlist
| Stock | Movement | What to Watch |
|---|
| AMD | Up 13.26% to $508.58 on Monday | The next session after its EPYC chip was named the host CPU for Google Cloud's TPU 8tx system |
| NVDA | Down 4.27% to $178.67 on Monday | Further news on the independent investigation involving CEO Jensen Huang |
| SE | Up 2.94% to $77.96 on Monday | Third-quarter results before the open, with an EPS estimate of $0.79 |
| BA | Down 0.59% to $172.38 on Monday | October orders and deliveries at 11 a.m. ET |
| XOM | Down 0.69% to $164.73 on Monday | The next session after Brent crude fell 5.8% on Monday |
Source: Monday closes from Nasdaq; EPYC and TPU 8tx from AMD; the Nvidia investigation from the AP; Sea's report timing and EPS estimate from the Nasdaq earnings calendar; Boeing's data timing from CNBC; Brent crude from the AP.
Tonight's Key Events
October inflation data
The October CPI report is due at 8:30 a.m. ET, according to the Bureau of Labor Statistics schedule. Economists polled by Dow Jones expect headline CPI to rise 0.3% and core CPI 0.2% month over month, after 0.6% and 0.3% in September, according to CNBC.
This report will not include annual figures because of the 2025 government shutdown, according to CNBC.
Chip stocks after the rally
AMD (AMD) rose 13.3% on Monday, according to the AP. The same day, AMD announced that its 5th Gen EPYC processors will be the host CPUs for Google Cloud's TPU 8tx system.
Nvidia (NVDA) fell 4.3% after the company said it was investigating a matter involving CEO Jensen Huang, according to the AP. Nvidia's board said it has no reason to believe national security or company secrets were compromised.
Earnings, Boeing and Fed speakers
Sea Limited (SE) reports third-quarter results before the open, and CoreWeave reports after the close, according to the Nasdaq earnings calendar. Boeing (BA) releases October orders and deliveries at 11 a.m. ET, according to CNBC.
Fed Governor Christopher Waller speaks at 4 a.m. ET and Dallas Fed President Lorie Logan at 9 a.m. ET, according to CNBC.
Pre-Market Pulse 📊
In CNBC's Monday evening update, Dow futures were up 12 points, or 0.02%, S&P 500 futures were up 0.07% and Nasdaq 100 futures were up 0.19%, according to CNBC.
The chip rally carried into Asia on Tuesday: SoftBank Group rose 13.4%, SK Hynix gained 5.2% and Samsung Electronics added 3.9%, according to CNBC.
Macro Note 📝
Brent crude fell 5.8% to $92.57 a barrel, while the 10-year Treasury yield edged up to 4.87% from 4.86%, according to the AP.
Conclusion
Tonight the market tests whether Monday's rally can hold. The October CPI comes at 8:30 a.m. ET, the market opens at 9:30 a.m. ET and Boeing's data follows at 11 a.m. ET.
Chip stocks such as AMD and Nvidia stay in focus after moving in opposite directions on Monday.
This article is for education and information only and is not investment advice. Investment decisions are yours to make after your own research.
What stocks are you watching tonight?
