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Daily check-in · 2026-11-11

Today on Closelooknet

Wednesday, November 11, 2026. Everything fresh from the ecosystem on one page.

The Morning 10 Tue, Nov 10, 2026 ~90 seconds 08:50 CET

Korea Jumps 4.4%, SoftBank 14% as AI Trade Rebounds

AI Trade — Korea Jumps 4.4%, SoftBank Soars 14% After Wall Street's Best Day Since April

Wall Street started the week with its best day since April. The S&P 500 rose 2.35% on Monday, the Nasdaq-100 3.4% and chip stocks 7.5%, a week after the market sold everything tied to the AI build-out. Oil helped: the Brent oil fund fell another 5.3% after President Trump said new strikes on Iran were unlikely while talks continue. The VIX, Wall Street's fear gauge, dropped from 25.6 to 19.9.

Asia carried the move on overnight. Korea's Kospi, which had missed Monday's bounce, jumped 4.4%. Japan's Nikkei rose 2.9% and closed back above 60,000, and Taiwan added 2.5% to Monday's 4.9%. SK Hynix gained 6.7% and SoftBank about 14% ahead of its results today.

Two things did not join in. Nvidia fell 4.3% on a day the chip fund rose 7.5%, as the board's investigation of its chief executive entered its first trading day; AMD jumped 13%. And one good day does not repair a week: chip stocks have won back about half of last week's loss, our build-out index a bit more than a third. The next test is the US inflation report at 13:30 UTC.

  1. AI Trade in Asia — Kospi +4.4%, Nikkei +2.9% and back above 60,000, Taiwan +2.5%
  2. Asia's AI Bellwethers — SK Hynix +6.7%, SoftBank +14%, Kioxia +9%
  3. Europe — ASML +4.7%, Infineon +6.3% on Monday; Infineon reports today
  4. Wall Street on Monday — S&P 500 +2.35%, its best day since April; fear gauge under 20
  5. Chips Without Nvidia — Chip fund +7.5%, AMD +13.3%; Nvidia −4.3%
  6. Oil, Bonds, Gold, Bitcoin — Oil fund −5.3%, bonds flat, gold 4,127, Bitcoin under 75,000
  7. US Inflation — October consumer prices at 13:30 UTC, this time without an annual rate
  8. AI Indices — Rubin +5.6%, AEI +3.9%; about a third of last week's loss is back
  9. AI Power and Software — Constellation and NRG jump 10% on results; monday.com sinks 9%
  10. Today — CoreWeave after the close; four earnings-record grades at 21:00 UTC

  1. AI Trade in Asia — Kospi +4.4%, Nikkei +2.9% and back above 60,000, Taiwan +2.5%

    Structure
    What
    Asia added a second day to the rebound in the markets where the chips are made. Korea's Kospi closed at 5,239.13, up 4.39%, after trading as high as 5,300.92 (+5.6%). Japan's Nikkei rose 2.87% to 60,459.58, with a high of 60,743.97. Taiwan's TAIEX gained 2.52% to 42,711.92, on top of Monday's 4.94%. Outside the chip markets the day was quiet: Hong Kong's Hang Seng was up 0.5% at 24,563 in afternoon trade and Shanghai was flat.
    If
    The Kospi gives back today's gain on Wednesday. It has regained only about a quarter of last week's 11.7% loss, against more than half in Taiwan and Japan.
    Why
    Asia is the cleanest overnight read of the AI hardware trade, because the chip makers trade there before New York opens. Korea did not join Monday's bounce and caught up today; Taiwan and Japan added to theirs. Markets with little chip exposure barely moved — this is a rebound in the AI trade, not in Asia as a whole.
    Then
    All three are still below where they ended October: Korea by 8.6%, Taiwan by 5.5%, Japan by 4.5%. A third up day would start to look like more than a bounce after a sell-off.

  2. Asia's AI Bellwethers — SK Hynix +6.7%, SoftBank +14%, Kioxia +9%

    Structure
    What
    SK Hynix opened 6.9% higher at 1,214,000 won, reached 1,242,000 (+9.3%) and closed at 1,212,000, up 6.7%. Samsung Electronics traded between 196,400 and 201,500 won and closed at 198,900, up 4.7%. TSMC closed at its high of the day, 2,285 Taiwan dollars, up 2.2% after Monday's 4.7%. In Tokyo, SoftBank Group rose 13.9% and was up as much as 17.2%; it reports its half-year results today. Kioxia gained 9.2%, Tokyo Electron 6.1% and Advantest 4.6%.
    If
    SK Hynix falls back below Monday's close of 1,136,000 won this week.
    Why
    On Monday the Korean memory makers sold their early gains and only TSMC held. Today memory led. The part of the supply chain that fell hardest last week is now being bought, which is what a rebound looks like when it broadens.
    Then
    SoftBank is the name to follow this afternoon. Its results are the first from a large AI investor since last week's sell-off.
  3. Weekly Signal One signal to define the week — scored in the open, Sundays at 21:00 CET. Read the Weekly Signal →

  4. Europe — ASML +4.7%, Infineon +6.3% on Monday; Infineon reports today

    Structure
    What
    Europe's AI-infrastructure names rebounded on Monday with Wall Street. ASML rose 4.7% to 1,343.80 euros, ASM International 3.4% and BE Semiconductor 2.5%; Infineon gained 6.3%. In power and grid equipment, Prysmian rose 5.9%, Siemens Energy 5.1%, Siemens 2.8%, Schneider Electric 2.5% and ABB 2.4%. The Euro Stoxx 50 closed up 1.94% at 6,290.45 and the DAX up 1.73% at 26,267.19. Infineon publishes its full-year results today (earnings calendar).
    If
    The chip-equipment makers fade at today's open while the grid suppliers hold.
    Why
    Europe has few AI platforms but many suppliers to the build-out: the machines that make the chips and the cables, switchgear and turbines that power the data centers. They fell with the US build-out names last week and bounced with them on Monday.
    Then
    Infineon's outlook is the day's company news in Europe: it sells power chips into AI servers as well as into cars, so it reads on both.

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The Midday 10 Tue, Nov 10, 2026 ~60 seconds 12:30 ET

A hot inflation report stops the rebound after one day. US consumer prices rose 0.4% in October, more than the 0.3% economists expected, and core prices, which leave out food and energy, rose 0.3% instead of 0.2% (CNBC). The 10-year Treasury yield jumps from 4.86% to 5.00%, the dollar index gains 0.7% and gold falls 3.0%. The S&P 500 loses 0.8% to 7,486.74, the Nasdaq 1.3% and smaller companies 1.2%.

The AI trade gives back more than the market. Nvidia falls another 6.5% to 167.08, and the chip fund SOXX, up 2.0% early, is now down 1.9%; AMD and Broadcom hold small gains. A second worry is new: SoftBank booked a $3.7 billion loss on revised orders for power equipment for US data centers, and the companies that sell that equipment fall, GE Vernova 7.0% and Vertiv 5.1%.

US midday, quotes as of 11:50 ET

  1. Inflation — prices up 0.4% in October, more than expected
  2. Rates — the 10-year yield at 5.00%, a bigger Fed hike is on the table
  3. The indices — S&P 500 down 0.8%, Nasdaq 1.3%
  4. Nvidia — down another 6%, now 19% under election day
  5. Chips — early gains fade, Micron down 4%
  6. Power equipment — GE Vernova down 7% after SoftBank’s loss
  7. Software and AI clouds — Cloudflare up 3%, CoreWeave reports tonight
  8. ETF board — homebuilders and gold fall most, financials and staples rise
  9. Earnings record — three head for paid, Applied Optoelectronics slips to flat
  10. Europe and movers — Infineon raises its outlook, Hims & Hers plunges 19%

The ten lines

  1. 1

    LEVEL Inflation — prices up 0.4% in October, more than expected

    TLTIEFSPY

    Consumer prices rose 0.4% in October from September, after 0.6% the month before; economists had expected 0.3%. Core prices, without food and energy, rose 0.3% against 0.2% expected, the same pace as in September (CNBC, CBS News). There is no annual rate this month: a year ago the government shutdown stopped the price collection, so the base for the comparison is missing (CBS News). It is the last inflation report before the Fed meets on 8–9 December; the November figures come out on 10 December, the day after the decision. The Fed raised rates in September and held them at 3.75–4.00% in October.

  2. 2

    LEVEL Rates — the 10-year yield at 5.00%, a bigger Fed hike is on the table

    TLTIEFUUP

    The 10-year Treasury yield rises from 4.86% to 5.00%, the 5-year from 4.66% to 4.83% and the 30-year from 5.26% to 5.36%. Traders now fully price a quarter-point hike in December (CNBC) and give a half-point hike a chance of 11% to 15%, from about 1% or less before the report (Bloomingbit, CNBC, CBS News). Fed governor Christopher Waller had said he backs a quarter-point hike and that a half point should be considered if core prices rose around 0.3% (Yahoo Finance, Seeking Alpha); they did. The Treasury sells 10-year notes at 13:00 ET. The long-bond fund TLT falls 1.6% to 80.65, the dollar index rises 0.7% to 102.39, and the dollar fund UUP at 29.18 is seven cents under its 52-week high.

  3. Token Split Pulse Chinese versus US model usage, measured in tokens — the demand side of the AI race, daily. See the split →
  4. 3

    LEVEL The indices — S&P 500 down 0.8%, Nasdaq 1.3%

    SPYQQQIWMRSPAMZNMSFTGOOGLAAPL

    The S&P 500 falls 0.8% to 7,486.74, the Nasdaq Composite 1.3% to 24,936.13 and the Dow 0.7% to 52,041.16; the Russell 2000 of smaller companies loses 1.2% to 2,806.03. The VIX, Wall Street’s fear gauge, rises from 19.92 to 20.55 after touching 21.61. The Russell 2000 fund IWM at 278.71 is back under its 50-day average of 281.84, one day after closing above it. The equal-weight S&P 500 fund RSP loses 0.5%, less than the index: the weight of the fall is in technology. Amazon gains 0.7%, Microsoft loses 0.3%, Alphabet 0.4% and Apple 0.8%. Of last week’s loss the S&P 500 now has 54% back, after 85% at Monday’s close; it stands 1.1% under its election-day close.

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