Never Satisfied

EVEN A SMALL CPI BEAT COULD SEAL DECEMBER FED RATE HIKE Russell Investments warns that even a modest upside surprise in Tuesday's US CPI report could cement a December Fed rate hike. Following strong employment data and signs of economic resilience, strategist BeiChen Lin expects the Fed to have little tolerance for persistent inflation. Markets now price an 84.5% probability of a 25-basis-point hike on December 9, up from 76.3% a day earlier

US GOVERNMENT SHUTDOWN RISK RISES OVER IRAN WAR Congressional Democrats are considering using the December 11 government funding deadline to pressure President Trump to end the war with Iran, Bloomberg reports. Democrats could block spending legislation or restrict funding for military operations, potentially triggering another federal government shutdown. The party faces a choice between acting immediately or waiting until January, when Democrats take control of both chambers of Congress. The Pentagon is also seeking at least $350 billion in additional funding, complicating negotiations.

US OCTOBER CPI PREVIEW: WALL STREET EXPECTS COOLER INFLATION Release: Tuesday, November 10, at 8:30 AM ET Consensus forecasts (M/M): 🔸 Headline CPI: 0.23% (September: 0.65%) 🔸 Core CPI: 0.22% (September: 0.33%) 🔸 Core PCE estimate: 0.23% Bank forecasts — Headline / Core CPI (M/M): 🔸 Goldman Sachs: 0.21% / 0.16% 🔸 Morgan Stanley: 0.19% / 0.19% 🔸 Deutsche Bank: 0.20% / 0.20% 🔸 Wells Fargo: 0.28% / 0.21% 🔸 Barclays: 0.24% / 0.22% 🔸 HSBC: 0.20% / 0.23% 🔸 JPMorgan: 0.25% / 0.23% 🔸 UBS: 0.26% / 0.23% 🔸 Jefferies: 0.23% / 0.24%

$GOOGL $NVDA - GOOGLE ESCALATES AI CHIP WAR WITH NVIDIA Alphabet is launching two specialized AI chips, TPU 8tx and 8i Max, targeting secure computing and advanced AI workloads as it challenges Nvidia Google's TPUs reportedly cost around 30% less than Nvidia GPUs, offering competitive performance and greater power efficiency for certain tasks. Bloomberg Intelligence estimates Google's TPU-related sales could surge from $12 billion in 2026 to over $135 billion by 2028. Major customers include Apple, Meta, Oracle and Anthropic, while OpenAI is reportedly planning purchases.

*BBG REPORTS NVIDIA DROPS OVER 6% IN PRE-MARKET, WIPES OUT MORE THAN $225 BILLION IN MARKET CAP

NVIDIA SAYS JENSEN HUANG WILL REMAIN CEO AMID PROBE Nvidia ($NVDA ) says CEO Jensen Huang will continue leading the company without interruption, despite news of an investigation. In a message to employees, Huang acknowledged being unfaithful to his wife, took full responsibility and pledged to rebuild trust. A Nvidia spokesperson emphasized that Huang remains fully committed to his role as CEO.