U.S. stocks rallied Monday, November 9, 2026, with the Dow Jones Industrial Average gaining 1,104.02 points, the S&P 500 advancing 2.35%, and the Nasdaq Composite climbing 2.74%. Small-cap stocks led the major benchmarks, while volatility dropped sharply and December crude oil futures fell more than 4%, The session’s defining feature was breadth: all four major equity benchmarks advanced despite company-specific pressure on Nvidia (NVDA). The recovery followed last week’s technology-led turbulence and arrived ahead of Tuesday’s closely watched consumer inflation report. Many now face a familiar question: can improving market sentiment hold up if inflation keeps the Federal Reserve cautious?.

Stock Market Closing Performance

Why Stocks Rose: A Broad Rebound, Lower Oil and Less Market Anxiety

Monday’s gains extended the recovery that began Friday, when technology shares regained some ground following Thursday’s sharp selloff. The Nasdaq’s stronger performance relative to the Dow showed renewed appetite for growth-oriented shares, but the Russell 2000’s 3.15% advance demonstrated that buying extended beyond the largest technology companies. The VIX’s 21.69% decline provided another important signal. Alongside gains across all four benchmarks, the retreat in this market-volatility gauge was consistent with a substantial easing in near-term market anxiety. That is a stronger picture than a rally confined to a handful of heavily weighted stocks, although one session does not establish a lasting change in trend. Lower crude oil prices added a potentially favorable macroeconomic ingredient. December crude futures dropped to $86.94, down 4.28% in the supplied snapshot. Cheaper energy can ease operating-cost pressures and household fuel expenses if the decline persists, but Monday’s move alone does not establish that the broader inflation problem has been resolved.

Macroeconomic Commentary: Inflation Is the Next Test

Tuesday’s CPI report takes center stage

The Bureau of Labor Statistics schedules the October Consumer Price Index report for Tuesday, November 10, at 8:30 a.m. Eastern. Its CPI homepage also identifies that release as the next inflation update. The report will provide a fresh reading on consumer-price pressures just one day after Monday’s equity rally. The policy backdrop remains important. At its October 28 meeting, the Federal Reserve maintained its federal funds target range at 3.75% to 4.00%. The statement described economic activity as expanding at a strong pace, domestic spending as resilient, capital investment as robust, and inflation as elevated. Two officials preferred a quarter-point rate increase rather than holding steady. That decision followed a quarter-point increase at the September meeting. The sequence matters: the Fed’s latest pause followed tightening, rather than signaling an established move toward easier policy. Many looking for lower borrowing costs still need evidence that inflation is moving convincingly toward the central bank’s 2% objective.

What Monday’s cross-market moves suggest

The combination of rising stocks, falling oil and a slightly higher Treasury yield points to a recovery in risk appetite rather than a straightforward bond-market rally on expectations of lower rates. Gold also advanced, showing that demand for precious-metal exposure remained intact even as equities strengthened. These are observations from the supplied snapshot, not proof of a single market-wide explanation. The next inflation reading could challenge or reinforce that recovery. Softer price pressures would be more compatible with improving corporate margins and less restrictive policy expectations. Persistent inflation would leave many weighing stronger business activity against financing costs that remain elevated, the same tension evident in the Fed’s October statement.

Nvidia Faces Leadership Questions as the Broader Market Advances

Nvidia (NVDA) remained a notable exception to Monday’s broader strength. Shares were down more than 5% during afternoon trading as an independent board investigation involving CEO Jensen Huang brought leadership continuity, governance and succession planning into focus. That reported stock move was intraday, not a verified closing return.The board expressed confidence in Huang and said he would continue leading the company during the investigation. It also said it had no reason to believe national security or company secrets had been compromised. The investigation’s outcome remains unresolved, making it important to distinguish established company statements from allegations and speculation. For the market, the immediate issue is key-person dependence: how much a company’s strategy, relationships and execution rely on one executive. Nvidia’s (NVDA) weakness alongside gains in the major indexes suggests that Monday’s rebound was not simply a uniform return to every prominent AI stock.

Alphabet’s AI Chips Add a Competitive Dimension

Alphabet (GOOGL), Google’s parent company, introduced two additional tensor processing unit systems, the TPU 8tx and TPU 8i Max, with shipments expected next year. The products expand its custom-chip lineup and strengthen its effort to serve different AI workloads rather than relying on a single general-purpose configuration. The development adds another competitive consideration for Nvidia (NVDA), while connecting the AI infrastructure story to Advanced Micro Devices (AMD) and Broadcom (AVGO). The reported TPU 8tx configuration incorporates processors from Advanced Micro Devices (AMD), while Broadcom (AVGO) participates in Google’s custom-chip ecosystem, Bloomberg Intelligence projects substantial growth in TPU sales through 2028, according to the supplied article. That remains a forecast, not booked revenue. The more durable market question is whether expanding custom-chip adoption changes the distribution of AI spending, pricing power and margins across the semiconductor industry.

Anthropic’s New Models Bring AI Pricing Into Focus

Privately held Anthropic introduced Claude Fable 5.2 and Claude Mythos 5.2 on Monday. The company said the models generate outputs 30% faster than their predecessors, with improvements in coding, reasoning and vision. Those performance figures are company claims..Anthropic also reduced Fable pricing to $8 per million input tokens and $40 per million output tokens, from $10 and $50, respectively. Both changes represent a 20% reduction. Fable 5.2 became broadly available across the company’s platforms, while Mythos 5.2 remained limited to organizations in designated verification programs. For the wider AI market, the announcement highlights two forces that can operate simultaneously: improving performance can encourage adoption, while lower prices can pressure revenue earned per unit of usage. Anthropic’s anticipated public offering adds another valuation test, although its timing and ultimate pricing remain uncertain. As a private company, Anthropic does not have a public-market stock ticker but it is suggested that it would be ANT.

Space Stocks Rally Around NASA’s Lunar Delivery Framework

Space-related stocks attracted attention following NASA’s announcement of a new lunar delivery framework. The agency selected eight companies eligible to compete for future missions under a 10-year contract structure with a combined maximum value of $10 billion. The essential distinction is that $10 billion represents a shared contract ceiling, not an immediate payment or guaranteed revenue award to any single participant. Companies must compete for subsequent mission orders, and actual revenue will depend on those awards and their execution. SpaceX (SPCX), Intuitive Machines (LUNR), Firefly Aerospace (FLY) and Voyager Technologies (VOYG) were among the selected companies identified in the supplied coverage. Rocket Lab (RKLB) also participated in the sector’s rally, but it was not among the eight companies selected for this particular framework. Its quarterly results were scheduled after Monday’s close. Reported share-price moves in that coverage were intraday rather than verified final returns.

What Matters Next

The immediate calendar puts inflation and AI-related earnings at the center of the next market test:

• Tuesday’s October CPI release will provide the next major consumer-inflation reading.
• Friday’s Producer Price Index report will offer another view of price pressures facing businesses.
• Results expected this week from CoreWeave (CRWV), Cisco Systems (CSCO) and Applied Materials (AMAT) will help many assess demand across AI computing, networking and semiconductor equipment.

Monday established a broad recovery in equity prices. Whether it develops into a more durable advance will depend less on the size of one day’s gains than on the inflation, earnings and spending evidence that follows.

Updates From the VP Watchlist

Amwell® (NYSE: AMWL)

Amwell® (NYSE: AMWL), a leading provider of technology-enabled care, closed at $12.46, +4.62%. Amwell reported after the close Nov. 3 the company’s Third Quarter 2026 Highlights: Recorded Total Revenue of $49.0 million, exceeding the previously provided financial guidance range for Q3, Achieved subscription revenue of $23.9 million, Recorded Amwell Medical Group (“AMG”) visit revenue of $23.7 million, Reported gross margin of 53%, Net loss was ($11.0) million, compared to ($9.6) million in the second quarter of 2026, Adjusted EBITDA of ($3.6) million compared to ($1.2) million in the second quarter of 2026, & Total visits on the platform were 0.8 million.

Financial Outlook: The Company is raising its 2026 revenue outlook, and adjusted EBITDA outlook, and reaffirming its AMG visit guidance., Revenue in the range of $204 million to $206 million increased from $200 million to $205 million
AMG visits between 1.32 million and 1.37 million Adjusted EBITDA in the range between ($8) million to ($7) million increased from ($9) million to ($7) million.

The Company also provided financial guidance for Q4 2026 Revenue and adjusted EBITDA:

• Q4 revenue in the range of $48 million to $50 million
• Q4 adjusted EBITDA expected to in the range of $0 million to $1 million.

The Company also reiterated its objective to achieve positive cash flow from operations in the fourth quarter of 2026.

Serina Therapeutics (NYSE: SER)

Serina Theraeuptics (NYSE: SER, $1.43, +3.62%) is a clinical-stage biotechnology company developing a pipeline of wholly owned drug product candidates to treat neurological diseases and other indications. Serina’s POZ PlatformTM provides the potential to improve the integrated efficacy and safety profile of multiple modalities including small molecules, RNA-based therapeutics and antibody-based drug conjugates (ADCs). Serina is headquartered in Huntsville, Alabama on the campus of the HudsonAlpha Institute of Biotechnology.

On Thursday, September 24, 2026, Serina CEO Steve Ledger discussed discuss Serina’s programs’ progress during Tribe Public’s “A New Approach to Advanced Parkinson’s Disease: Serina Discusses SER-252’s Clinical Progress”webinar, followed by a live Q&A. You may view it below.

SER announced (Sept. 9) that the independent Safety Monitoring Committee (SMC) has completed its blinded review of Cohort 1 of the ongoing Phase 1b registrational study of SER-252 in patients with advanced Parkinson’s disease and recommended that the study advance to Cohort 2. Cohort 1 evaluated the lowest dose level in the single-ascending-dose portion of the study. In addition to supporting continued dose escalation, blinded Cohort 1 observations showed a pharmacokinetic profile consistent with the sustained apomorphine exposure SER-252 is designed to provide and included sustained periods of improvement in motor function in individual patients on exploratory clinical measures.

Eupraxia Pharmaceuticals Inc. (EPRX)

Eupraxia Pharmaceuticals Inc. (EPRX, $6.89, +4.39%), a clinical-stage biotechnology company leveraging its proprietary Diffusphere™ technology designed to optimize local, controlled drug delivery for applications with significant unmet need, gained a significant new Wall Street endorsement Monday as RBC Capital Markets initiated coverage with an Outperform rating, a Speculative Risk designation and a $14 price target. The research makes a bullish case for EP-104GI, the company’s investigational treatment for eosinophilic esophagitis, ahead of an expected December clinical readout. Against the $6.89 reference price in RBC’s report, the target implies approximately 103% upside, not a forecast of where shares must trade. The attraction is unusually straightforward for biotechnology: take a familiar anti-inflammatory medicine, deliver it precisely into diseased tissue and attempt to make its benefits last long enough to change the treatment routine. If that approach succeeds, Eupraxia would offer more than another prescription for a chronic disease. It could offer a different calendar. RBC analyst Douglas Miehm’s November 9 initiation argues that EP-104GI could occupy a differentiated position in eosinophilic esophagitis, commonly called EoE, through localized delivery and the potential for once-yearly administration. The next major test is whether encouraging early results translate into convincing evidence against a vehicle control in the Phase 2b RESOLVE study.

EPRX announced (Oct. 15) that the ongoing RESOLVE study evaluating the safety and efficacy of EP-104GI for the treatment of Eosinophilic Esophagitis (“EoE”) has reached its enrollment target. “This is a significant milestone for the RESOLVE trial and the development of EP-104GI as a potential treatment option in EoE” said Dr. James Helliwell, Chief Executive Officer of Eupraxia. “We look forward to our interim analysis in December where we will be reporting on symptoms, histologic findings and safety in the first 60 patients in Phase 2b to reach 6 months. Data will also be available on the patients at 3, 9- and 12-month timepoints giving a fulsome interim look at the RESOLVE Trial”.

Modular Medical, Inc. (NASDAQ: MODD)

Modular Medical, Inc. (NASDAQ: MODD, $1.85, +39.10%), a commercial-stage medical device company preparing for the full commercial launch of its next-generation Pivot™ tubeless patch pump, is pursuing a different proposition: make insulin delivery less demanding for the people who must manage it every day. New patient research announced November 9 gives that strategy a persuasive commercial foundation. In a three-phase study conducted with Thrivable involving more than 540 people with Type 1 or Type 2 diabetes, approximately nine out of 10 surveyed multiple daily injection users said they would consider a simpler insulin delivery option. In the final-phase survey of 303 participants, 48.5% expressed strong interest in the company’s Pivot tubeless patch pump. The distinction matters. General enthusiasm for something easier is not the same as product-specific interest, and neither is a prescription. Still, the findings suggest Modular Medical is addressing a recognizable problem rather than inventing one for the benefit of a presentation deck. For many following MODD, the emerging opportunity centers on one word: simplicity. The company has already moved beyond the purely developmental stage. Its annual report documents U.S. Food and Drug Administration clearance for Pivot in April 2026, followed by commercial availability and initial patient shipments in June. The question now is whether a differentiated product, improving access and more focused patient education can turn that regulatory foundation into a repeatable commercial business.

MODD announced (Oct. 27) that it has received a positive decision from its notified body regarding certification of its quality management system under ISO 13485:2016. The notified body is designated under the European Union Medical Device Regulation (“MDR”).

MODD CEO, Jeb Besser, co-hosted a Tribe Public’s CEO Presentation and Q&A Webinar Event titled “The Road To Revenue: Modular Medical’s Strategy For Launching Pivot,” that was held Friday, September 4, 2026.. You may watch the event video below now if you missed it below now.

Nvidia (NVDA, $178.67.)

NVIDIA Corp. (NASDAQ: NVDA), remains a cornerstone of the AI-chip investment story, supported by robust data-center demand, hefty profitability, and growing supply-chain commitments. Attention now turns to its November 17 earnings report, when investors will scrutinize the company’s $108 billion revenue outlook and assess whether demand has staying power, or merely an excellent publicist, as regulatory and infrastructure concerns linger.

Alphabet (NASDAQ: GOOGL $288.15, +1.18%)

Alphabet (NASDAQ: GOOGL, GOOG) is confronting an expensive paradox: Artificial intelligence is bringing more activity to Google while making the economics of that activity harder to predict. Yet the latest results offer a more constructive interpretation than a simple obituary for search. Third-quarter revenue increased 25% to $127.6 billion. Operating income climbed 30% to $40.6 billion. Google Cloud revenue more than doubled. Those are unusual credentials for a company supposedly being escorted toward technological irrelevance. At the close on Thursday, Alphabet shares traded at $283.82, following a 12.64% decline, many are clearly demanding more proof and fewer architectural renderings of future data centers. That skepticism is understandable. But the opportunity lies in distinguishing a difficult transition in monetization from a collapse in demand. Google’s problem is not that people have stopped asking questions. According to management, its year-over-year search-query growth reached its highest rate in five years during the third quarter. The more consequential question is how quickly Google can turn its expanding AI audience into attractive, durable cash flow. Wall Street has little patience for a renovation when the contractor’s estimate begins with a trillion.

Space Exploration Technologies Corp. (SPCX, $142/07,
(+5.81%)

SpaceX commanded the spotlight in SPCX coverage after Elon Musk projected annual recurring revenue above $500 billion by December 2027, leaving the $180 billion average analyst forecast looking almost bashful. Strong third-quarter revenue added momentum, though Texas data-center regulations and political exposure remained less glamorous items on the risk ledger.

The Sources

1. U.S. stock-market session setup and weekly economic and earnings calendar
2. Nvidia (NVDA): Leadership continuity, board investigation and succession questions
3. Monday market opening context and corporate earnings calendar
4. Alphabet (GOOGL): Google’s expanding AI-chip business and competitive outlook
5. Anthropic introduces Claude Fable 5.2 and Mythos 5.2
6. Space-sector trading and NASA’s lunar delivery opportunity
7. Bureau of Labor Statistics: Consumer Price Index release schedule
8. Bureau of Labor Statistics: Consumer Price Index homepage and next release
9. Federal Reserve: October 28, 2026, monetary policy statement
10. Federal Reserve: September 15–16, 2026, meeting minutes
11. NASA: Moon Base transportation, technology and science projects