Stock Market S&P 500: Futures Edge Up After 165,000 October Jobs
US stocks pointed to a mildly positive open on November 9, 2026, after October payrolls rose 165,000 and unemployment slipped to 4.1%. Investors now turn to Federal Reserve speeches and inflation data for clues on interest rates.
The US stock market and the S&P 500 were set for a mildly positive open on Monday, November 9, 2026, as investors weighed a stronger-than-expected October jobs report and what it means for interest rates.
Non-farm payrolls rose 165,000 in October, and the unemployment rate edged down to 4.1%. Average hourly earnings advanced 0.4% from September and 3.1% from a year earlier.
Investors are reading solid hiring and firm wages as a test of the soft-landing story, the hope that the economy can cool inflation without tipping into recession.
Why the jobs data matters for rates
A labor market that keeps absorbing workers at this pace can keep borrowing costs higher for longer. Policymakers at the Federal Reserve have less urgency to ease when hiring holds up.
Higher wage growth can also squeeze profit margins in labor-intensive industries. Companies with pricing power may find it easier to pass those costs on to customers.
The open now hinges on one question. Will the jobs and wage strength push the Fed toward a hawkish tone in upcoming speeches and inflation data, or will easing longer-term inflation expectations let it stay patient?
Stocks in focus
Rocket Lab (RKLB) jumped 15.39% as traders reacted to a sharp rebound after extended share price losses. Ubiquiti (UI) climbed 15.29% after record first-quarter revenue, stronger earnings and a cash dividend.
Coherent (COHR) advanced 13.58% after strong quarterly results and updated guidance.
On the downside, Axon Enterprise (AXON) fell 18.18% after cutting its 2026 revenue outlook, which prompted analyst cuts and a legal investigation. Atlassian (TEAM) declined 16.15% after several banks trimmed their forecasts following first-quarter results and a cautious growth outlook.
Natera (NTRA) dropped 14.59% after analyst cuts and a surprise CEO transition, despite solid recent financial updates.
Tesla is widening its robotaxi rollout to San Antonio. It launched the service in Austin in June 2025 and later added more Texas and Florida cities.
NVIDIA is partnering with Rebellions and SK Telecom to support Korea's sovereign AI plans using NVLink Fusion technology. A separate warning about OpenAI valuations could influence sentiment toward AI infrastructure demand.
Calendar for the week
Fed officials Bowman, Goolsbee and Barkin speak on Monday, November 9. Any pushback against expectations of rate cuts would keep pressure on rate-sensitive areas such as tech, small caps and longer-dated Treasuries.
US consumer price data follows on Tuesday, November 10. Headline inflation is forecast at 3.9% year over year, with core at 2.8%. A reading above those marks would strengthen the case for higher-for-longer rates and could lift the dollar while weighing on growth stocks.
Applied Materials (AMAT) reports fourth-quarter earnings on Thursday, November 12. Producer prices are due Friday, November 13, forecast to rise 0.4% on the month, with core at 0.3%.
A softer producer price reading would suggest less pricing pressure in supply chains, which would help margin sentiment for manufacturers and retailers.
