Markets today, November 9, 2026: stocks surge as oil sinks, crypto slips

Crypto. Bitcoin was $74,902.76 at 20:58 UTC, down 1.14% in 24 hours and 2.49% in seven days. Ether fell 4.28% to $2,131.45, Solana 2.69% to $86.71 and XRP 4.76% to $1.0983, which is 12.15% lower on the week. Fear & Greed is 29, Fear, up from 28. About $1.2 billion of positions were liquidated in 24 hours, about $1.04 billion of them longs, and ether alone had $508.8 million. US bitcoin ETFs had net outflows of $411.9 million and ether ETFs $93.3 million on Friday, November 6; our data had no Monday figures yet. Coinbase said it got final OCC approval for its national trust charter: https://freekonomist.com/en/news/coinbase-national-trust-company-final-occ-charter-2026-11-09/ . NYSE picked Avalanche to settle tokenized stocks: https://freekonomist.com/en/news/nyse-avalanche-tokenized-stocks-settlement-2026-11-09/ . Bitcoin price and liquidations: https://freekonomist.com/en/crypto/btc/ . What well-known traders think: https://freekonomist.com/en/crowd/ . Token unlock dates: https://freekonomist.com/en/unlocks/

Stocks. All three US indexes rose more than 2%. The Russell 2000 gained 3.15% to 2,840.81 and the VIX fell 21.76% to 20.06. Broadcom rose nearly 9%, AMD 13% and Tesla 5.5%. Nvidia fell 4.27% to $178.67 after its board opened an independent investigation into reports about CEO Jensen Huang: https://freekonomist.com/en/news/nvidia-ceo-jensen-huang-board-investigation-2026-11-08/ . The 10-year Treasury yield was 4.882%. Our midday note: https://freekonomist.com/en/news/nasdaq-composite-dow-rally-oil-slides-2026-11-09/ . In Europe the FTSE MIB closed up 2.69% at 51,399, Frankfurt gained 1.73%, Paris 1.16% and London 1.02%: https://freekonomist.com/en/news/ftse-mib-milan-banks-rally-2026-11-09/ . In Asia the Nikkei 225 rose 2.33% and Taiwan's index 4.94%. China extended the pause on its extra 24% tariff on US goods by two months from 05:01 UTC on November 10: https://freekonomist.com/en/news/china-extends-24-percent-tariff-suspension-us-goods-two-months-2026-11-09/ . US CPI on Tuesday will have no annual rate: https://freekonomist.com/en/news/us-october-cpi-no-annual-inflation-rate-bls-2026-11-09/

Commodities and currencies. Brent settled at $92.57, down 5.85%, and WTI at $86.85, down 4.38%. Reuters says Brent fell 16% last week, its steepest weekly drop since the start of the pandemic, and kept sliding after settlement. Gold futures rose 1.81% to $4,148.70: https://freekonomist.com/en/commodities/gold/ . In our data at 20:58 UTC EUR/USD was 1.1223 (+0.72%), GBP/USD 1.3440 (+0.63%), AUD/USD 0.6930 (+0.90%) and USD/JPY 157.881 (-0.34%). CNBC says the dollar softened. Live macro board: https://freekonomist.com/en/macro/

Confirmed facts

• The S&P 500 rose 2.35% to 7,549.94, its best day since April 8; the Nasdaq Composite rose 2.74% to 25,253.14 and the Dow 2.15% to 52,389.75.^[1][3]
• CNBC says stocks were boosted by a decline in oil prices and gains in technology shares after last week's volatility.^[1]
• Brent crude futures settled down $5.75, or 5.85%, at $92.57 a barrel, the lowest since late August; US WTI settled down 4.38% at $86.85.^[2]
• Reuters links the fall in oil to US President Donald Trump downplaying the likelihood of renewed strikes on Iran; Brent fell 16% last week, its steepest weekly drop since the start of the COVID-19 pandemic.^[2]
• Bitcoin was $74,902.76 at 20:58 UTC (-1.14% in 24 hours, -2.49% in 7 days); ether $2,131.45 (-4.28%, -5.41% in 7 days); Solana $86.71 (-2.69%); XRP $1.0983 (-4.76%, -12.15% in 7 days).^[5]
• Fear & Greed read 29, Fear, up from 28. About $1.2 billion of crypto positions were liquidated in 24 hours across exchanges, about $1.04 billion of them longs; ether liquidations were $508.8 million and bitcoin $328.9 million.^[5]
• US bitcoin ETFs had net outflows of $411.9 million and ether ETFs $93.3 million on Friday, November 6; our data had no figures for Monday yet.^[5]
• At 20:58 UTC EUR/USD was 1.1223 (+0.72%), GBP/USD 1.3440 (+0.63%), AUD/USD 0.6930 (+0.90%) and USD/JPY 157.881 (-0.34%).^[6]
• Gold futures were up 1.81% at $4,148.70, the Russell 2000 rose 3.15% to 2,840.81, the VIX fell 21.76% to 20.06 and the 10-year Treasury yield was 4.882%.^[3]
• CNBC says lower oil prices helped ease inflation concerns and the dollar softened; traders saw an 81% chance of a Fed rate hike in December, per CME FedWatch.^[4]
• Nvidia closed down 4.27% at $178.67; Broadcom rose nearly 9%, AMD 13%, Tesla 5.5% and Amazon about 3%.^[1]
• Nvidia's board announced an independent investigation on November 8 in light of reporting that CEO Jensen Huang was the target of a foreign intelligence effort; the board says it has confidence in him.^[13]
• The Nikkei 225 closed up 2.33% at 58,775.5 and Taiwan's weighted index up 4.94% at 41,664.7.^[1]
• The FTSE MIB closed at 51,399 (+2.69%); Frankfurt rose 1.73%, Paris 1.16% and London 1.02%.^[9]
• China's extra 24% tariff on US goods stays suspended for two more months from 13:01 Beijing time (05:01 UTC) on November 10; the extra 10% tariff stays in place.^[10]
• Coinbase announced final OCC approval of Coinbase National Trust Company, a trust charter without deposits or loans.^[11]
• NYSE's planned tokenized securities platform will use Avalanche for its settlement ledger, subject to regulatory approval.^[12]
• US CPI for October is due Tuesday, November 10, at 13:30 UTC (High impact); forecast +0.3% on the month, core +0.2%, after +0.6% and +0.3%.^[7]
• BLS will not publish 12-month CPI changes for October 2026.^[8]
• FOMC member Waller speaks at 09:00 UTC on November 10 (Medium impact).^[7]

Implications

• ConfirmedCNBC ties the gains in stocks and gold to lower oil and eased inflation worries before CPI.
• Our readingThe day was driven by oil and tech, not by anything in crypto, so crypto lagged stocks. This is our inference.

Still unknown

• What caused the fall in ether and XRP
• What the monthly October CPI figures will show
• Whether cheaper oil lasts: Brent kept sliding after settlement, Reuters says

Who it affects

United States, Europe, Global. People who hold stocks, gold or crypto and wait for the US inflation report on Tuesday

Sources

1. CNBC: Dow surges 1,100 points, Nasdaq climbs more than 2% as tech rebounds from last week's tumult: Live updates November 9, 2026 · media
2. Reuters: Oil down more than $7 a barrel in post settlement trade as Trump signals restraint on Iran November 9, 2026 · media
3. The Wall Street Journal: Stock Market Today: Nvidia Stock Slides After Chip Maker Opens Probe November 9, 2026 · media
4. CNBC: Gold gains as lower oil prices temper inflation fears; U.S. inflation in focus November 9, 2026 · media
5. Freekonomist: Bitcoin price, Fear & Greed, liquidations and ETF flows (data snapshot 20:58 UTC) November 9, 2026 · media
6. Freekonomist: Macro board: currency pairs (data snapshot 20:58 UTC) November 9, 2026 · media
7. Forex Factory: Economic calendar, week of November 8, 2026 November 9, 2026 · media
8. Freekonomist: US October inflation report will have no annual rate November 9, 2026 · media
9. Freekonomist: FTSE MIB jumps 2.69% as Milan banks lead Europe higher November 9, 2026 · media
10. Freekonomist: China pauses its 24% tariff on US goods for two more months November 9, 2026 · media
11. Freekonomist: Coinbase wins full US federal trust bank charter from the OCC November 9, 2026 · media
12. Freekonomist: NYSE picks Avalanche to settle trades in tokenized stocks November 9, 2026 · media
13. Freekonomist: Nvidia CEO Jensen Huang: board opens independent investigation November 8, 2026 · media