U.S. CPI, PPI and AI Earnings Set This Week’s Market Agenda

U.S. inflation reports and earnings from AI infrastructure companies will anchor this week’s market calendar, with rate futures assigning roughly an 80% chance to a Federal Reserve increase in December.

The October consumer price index is scheduled for 8:30 a.m. ET Tuesday, Nov. 10, and October producer price data is due at 8:30 a.m. ET Friday, Nov. 13. October payrolls increased by 165,000, and the unemployment rate fell to 4.1%. Federal funds futures imply about an 80% probability of a rate increase at the Fed’s December meeting, while market pricing also reflects the possibility of two further 25-basis-point increases in the current cycle.

Headline and core CPI are expected to rise 0.3% month over month in October, a reading that would make a December rate increase more likely. A 25-basis-point increase may be nearly fully priced by the December meeting unless October inflation is substantially softer than expected or the November jobs report due Dec. 4 is notably weak.

Corporate results add another test for the AI trade. CoreWeave is scheduled to report third-quarter results after the market closes Tuesday. Nebius is due before trading starts Thursday, Nov. 12. Cisco is scheduled to report its first quarter of fiscal 2027 after the close Thursday. Anthropic plans to begin its formal initial public offering roadshow as early as this week, putting a model developer’s fundraising plans in the same week’s spotlight as results from companies building AI computing infrastructure.

The Federal Reserve’s schedule also includes remarks or discussions with officials Waller, Bowman, Barr and Jefferson during the week.

Recent options and volatility readings show investor positioning ahead of the events. The Cboe put/call ratio rose to 1.2 Thursday, twice its 0.6 average, while the VIX was around 24 Friday. The index remained below 30 Friday.

The first scheduled report is CPI on Tuesday morning, followed by CoreWeave’s results after the market close.