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ASX 200 futures +1% on 10 November as Wall Street rallies 2.35% and Brent falls 5.60%

S&P 500 +2.35%, chips +6.85%, NVDA.US -4.27%; Brent -5.60%; AUD +0.87% to 0.6928; gold +1.79%.

Bullish3 min readBy Swingfolio Research

At a glance

ASX 2009,030+0.10%
S&P 5007,550+2.35%
NASDAQ25,253+2.74%
Dow52,390+2.15%
VIX19.92-22.31%
Gold4,148+1.79%
Brent92.81-5.60%
AUD/USD0.6928+0.87%
ASX SPI futures9,135+0.96%

ASX 200 futures +1% on 10 November as Wall Street rallies 2.35% and Brent falls 5.60%

Sentiment: bullish ASX 200 futures: +1.0%

ASX 200 futures rose about 1% to 9,135 by 7:08am AEDT on 10 November 2026 after the S&P 500 gained 2.35% to 7,549.94, as Brent crude fell 5.60% to US$92.81 when President Trump said further strikes on Iran were unlikely while talks continue, per Capital Brief. NVDA.US fell 4.27% to US$178.67 after CEO Jensen Huang acknowledged an affair with an executive that US intelligence suspects of gathering information for China, per ABC, while the Philadelphia Semiconductor index rose 6.85%. The ASX 200 opens from 9,029.7 with AUD/USD up 0.87% to 0.6928 and gold up 1.79% to US$4,147.70/oz.

Overnight drivers

  • Oil: Brent -5.60% to US$92.81 and WTI -4.25% to US$86.97 after Trump played down renewed strikes on Iran. WDS.AU closed Monday at $30.70 (-0.13%) and STO.AU at $8.62 (+0.70%); XOM.US fell 0.69% and CVX.US 0.86% in New York. QAN.AU closed at $9.31 (-1.48%) and buys jet fuel priced off crude.
  • Chips: The Philadelphia Semiconductor index rose 6.85% to 10,033.93, with NVDA.US the only decliner in the index, per ABC. AMD.US gained 13.26%, AVGO.US 8.78% and MU.US 6.25%, and COHR.US jumped 16.79% after quarterly revenue rose nearly 50% to US$2.37 billion, per Investing.com. WTC.AU closed Monday at $45.29 (+1.80%) and XRO.AU at $70.58 (-0.23%).
  • USD and gold: The US dollar index fell 0.61% to 101.67, lifting AUD/USD 0.87% to 0.6928 and December gold 1.79% to US$4,147.70/oz. EVN.AU closed Monday at $13.53 (+4.80%) and NST.AU at $25.85 (+0.78%) after the All Ords Gold index rose 4.23%.
  • Yields: The US 10-year yield rose 0.5 bps to 4.864%, so the equity rally came without a bond rally. XLF.US gained 1.45%; the ASX 200 Financials index fell 1.11% on Monday.

Overnight Wall Street

  • S&P 500: 7,549.94 (+2.35%)
  • Nasdaq: 25,253.14 (+2.74%)
  • Dow: 52,389.75 (+2.15%)
  • VIX: 19.92 (-22.31%)

The S&P 500 gained 173.08 points on Monday 9 November 2026, its strongest session since April according to Capital Brief, as buyers returned after last week's post-midterm tech sell-off. The Russell 2000 rose 3.15% and XLK.US 3.73%, ahead of XLY.US +2.92% and XLE.US +0.52%. The VIX fell 5.72 points to 19.92. In Europe the STOXX 600 rose 1.26% and the FTSE 100 1.02%.

Nvidia's board is investigating whether Huang was the target of a foreign intelligence effort; China's Foreign Ministry called the allegations a smear, per ABC. Traders price about an 80% chance of a 25 bp Fed rate rise in December, per LSEG data cited by Capital Brief.

Commodities and FX (AU-relevant)

  • Gold: US$4,147.70/oz (+1.79%)
  • Brent: US$92.81 (-5.60%)
  • Iron ore 62%: US$92.71/t (flat)
  • AUD/USD: 0.6928 (+0.87%)

BHP.US rose 3.72% and RIO.US 3.18% in New York as copper gained 2.17% to US$6.37/lb. In Sydney on Monday BHP.AU closed at $59.20 (+2.74%), RIO.AU at $152.26 (+1.55%) and FMG.AU at $15.28 (+0.66%), with the ASX 200 Materials index up 2.88%. Silver rose 2.62% to US$53.31/oz and NEM.US 3.52%. The ASX 200 Energy index rose 0.73% on Monday, before the overnight fall in crude.

Key themes for the ASX open

  • NXT.AU: NEXTDC paused data centre projects without customer contracts after a community dispute delayed its M3 site in Melbourne's inner west, per ABC. Goodman Group and Digital Realty took a 9.9% stake last week and said they have no current takeover plans. NXT.AU closed Monday at $10.52 (+1.15%).
  • Banks: ANZ.AU closed Monday at $39.05 (-3.20%) after its full-year result, NAB.AU at $39.45 (-1.37%), CBA.AU at $165.97 (-0.92%) and WBC.AU at $36.81 (-0.59%).
  • SSM.AU: Service Stream entered a trading halt for a capital raise to fund a potential acquisition, per Stockhead. The last price was $2.20.
  • Asia: The Nikkei rose 2.33% on Monday while the Kospi fell 0.81% and the Hang Seng 0.13%. The ASX 200 gained 0.10%.
  • Miners: LYC.AU closed Monday at $13.15 (+6.82%), MIN.AU at $48.83 (+4.81%) and S32.AU at $4.59 (+3.38%), before copper's overnight gain.

Economic calendar today

  • 10:30am AEDT: Westpac-Melbourne Institute consumer sentiment, November
  • 11:30am AEDT: NAB business survey, October
  • Wednesday 12:30am AEDT: US CPI, October

What to watch

  • ASX 200 futures at about +1% compare with a 2.35% S&P 500 gain and a 6.85% chip rally; the ASX 200 Information Technology index rose 0.88% on Monday.
  • The US VIX closed at 19.92 and the ASX VIX at 12.00, narrowing the gap to 7.9 points from 13.7 a day earlier.
  • US October CPI lands early Wednesday AEDT with about 80% odds of a December Fed rate rise priced.

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This briefing provides market observations and general information only. It is not personal financial advice and does not take into account your objectives, situation or needs. Past performance is not a reliable indicator of future performance. Consider seeking independent advice before acting on any information presented here.

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