Global stocks rise as Brent dips below $90 before CPI

World stocks rose on Tuesday, November 10, after Brent crude briefly fell below $90 a barrel for the first time since August. Investors are waiting for a US consumer price report that could shape the Federal Reserve's next move. Futures on the Dow Jones Industrial Average and the S&P 500 ↘ 0.37% were mostly higher after gains across Asia and a firm start in Europe, while Nasdaq contracts were flat, The Wall Street Journal News Corp ↗ 1.64% reported.wsj.com

The oil drop came after President Donald Trump said he plans to hold off on new military strikes against Iran. Investors are hoping for possible peace talks, and Brent fell more than 2%, Reuters reported via Euronext. The pan-European STOXX 600 climbed to within 1% of its all-time high.live.euronext.com

Tech rebound carries over

Tuesday's gains followed a strong Monday session. All three major US indexes rose more than 2%, and the S&P 500 had its best day since April, according to Reuters via Yahoo Finance. Chipmakers led the way. AMD Advanced Micro Devices, Inc. ↗ 1.30% jumped 13.3% and Broadcom ↗ 3.91% rose 8.8%, Anadolu Agency reported. Nvidia ↘ 5.47% went the other way, falling 4.3% after it opened an independent probe tied to reports about CEO Jensen Huang, but it gained in premarket trading Tuesday, according to CNBC Comcast Corporation ↗ 0.98%.aa.com.tr+2

Asian markets followed the tech rally. Japan's Nikkei 225 rose about 2.5% and South Korea's Kospi gained about 3.8%, while SK Hynix ↗ 7.24% and Samsung Electronics also advanced, Anadolu reported.aa.com.tr

Inflation report and the Fed

The October CPI report is due at 8:30 a.m. New York time, according to Business Insider. Economists polled by Reuters expect prices to have risen 0.3% in October, down from 0.6% in September, with core prices up 0.2%, Reuters reported via Bradenton Herald. The Bureau of Labor Statistics won't publish year-over-year figures this time, because last year's government shutdown stopped it from collecting October 2025 data. Using estimated base figures, economists landed on roughly 3.9% annual headline inflation and about 2.7% to 2.8% for core, according to the same report and CNBC.cnbc.com+2

Inflation is still well above the Fed's 2% target. Higher oil prices from the US-Israeli war with Iran, which began in late February, have added to costs already raised by tariffs. After a blowout October jobs report, the CME FedWatch tool shows traders pricing an 82.2% chance of a rate hike in December, up from 74% a week earlier, Reuters reported via Euronext. Reuters warned that a hotter-than-expected CPI reading "could threaten the recovery in stocks," according to Yahoo Finance.ca.finance.yahoo.com+1