Market Midday: Stocks Lower, Inflation and Bond Yields Higher • 11/10/26

0:00See NBC Business News update market midday. Wall Street's in the red. Watch that 10-year Treasury note. The yield is higher. It crossed the 5 % mark on hot inflation numbers and prospects. The Fed will again raise interest rates. The Dow down 295 points, a little more than a half percent. But NVIDIA shares embattled. They're leading the Dow lower this afternoon, down 6%. The S &P 500 index is down 56 points, three quarters percent. The NASDAQ falling 317 points, one and a quarter percent. Inflation rose four tenths of a percent last month, higher than forecasts in the CPI, the October Consumer Price Index.

0:43We don't have a year over year number because a year ago there was a government shutdown. The September annual inflation rate, 3.7 percent. Economists are extrapolating that it's higher than that. And it complicates the Fed's inflation fight. Fed Governor Chris Waller sees a December interest rate increase likely. Dallas Fed President Lori Logan says it's possible to increase interest rates more rapidly this winter than in the fall. NVIDIA CEO Jensen Wong may not survive the scandal. As the company's CEO, he admitted an affair with a woman the U.S. government now alleges is a Chinese spy, as first reported by the New York Times.

1:25Here's Dartmouth's Tuck School of Business professor of corporate communications, Paul Argenti on CNBC. I mean, this is a key issue. It's something that I teach in my class about Martha Stewart, which there was so much tied up in her, it was hard to see an independent company. We can't afford to have that situation here. You know, this isn't a company selling hard goods at Kmart. We're looking at a company that, you know, is in the interest in national security of the country. And how they allowed this to happen as a group of board members without a succession plan is beyond me. He's not a young guy.

2:02I mean, you know, anything can happen on any day. CNBC's Becky Quick now with the Trump administration's former deputy national security advisor in the first term, Victoria Coats. It's a national security threat. What do you think happened? It looks to me like we had a very aggressive lobbying campaign to allow China to gain access to these very sophisticated chips. From your read on things, what do you think happened in terms of you think this was a honeypot situation? You think he knew what? How do you see it? He says he didn't know, but it certainly looks like a honeypot situation. And again, oldest play in the book.

2:39I mean, it just happens over and over again. Anthropic has set the price range for its initial public offering. Here's CNBC's Leslie Picker. Anthropic is launching what could be a record-breaking IPO here. It plans to market its stock between$70 and$78 per share. Today's terms imply a fully diluted valuation of$1.4 trillion at that high end of the range. They're technically oversubscribed before even beginning to market this offering. And I'm told that demand is actually stronger than SpaceX was at the same point in the process. Consumer household debt, credit cards, car loans, student loans, mortgages, home equity, lines of credit, hitting an all-time high in the third quarter in new data from the New York Fed.

3:22Consumer debt in the third quarter topping$19 trillion for the first time. Third quarter delinquencies, they remain elevated, as you might expect with higher interest rates, but they did ease from the second quarter, so not a one-way street on that. Credit card delinquencies at 12.9%. That is an elevated number. Student loan delinquencies at 10.9%. HELOCs, it's a 10-year high now of$481 billion. That's CNBC senior economics reporter Steve Leisman. 4 p.m. Eastern today for the NFL trade deadline. Jessica Ettinger, CNBC.

3:54Jessica Ettinger: Hey, Fidelity. What's it cost to invest with the Fidelity app? Start with as little as$1 with no account fees or trade commissions on U.S. stocks and ETFs. Hmm, that's music to my ears. I can only talk. Investing involves risk, including risk of loss. Zero account fees apply to retail brokerage accounts only. Zero dollar commission does not apply to customers designated by Fidelity as a professional equity trader. A limited number of ETFs are subject to a service fee of$100. See details at fidelity.com slash commissions. Fidelity Brokerage Services, LLC, member NYSE SIPC.