Sunday, November 8, 2026 | 3 min read
Top 3 Takeaways
- Stocks had their worst week since June; futures reopen tonight.
- October CPI on Tuesday is the key test for a December Fed hike.
- Anthropic IPO investors want a lower valuation after the selloff.
Markets Snapshot
As of Friday close, Nov 6 (bitcoin as of 6:05 AM ET Sunday). Markets are closed for the weekend.
| S&P 500 (Fri close) | 7,376.86 | +0.31% |
| Dow (Fri close) | 51,285.73 | -0.46% |
| Nasdaq Composite (Fri close) | 24,579.42 | +1.09% |
| 10-year Treasury (Fri) | 4.86% | +2 bps |
| Brent crude (Fri) | $98.32 | +0.03% |
| WTI crude (Fri) | $90.34 | -0.20% |
| Bitcoin | $75,823 | -0.17% |
Deals & IB
- Investors in Anthropic's planned IPO push for a valuation closer to $1.5 trillion, below the roughly $2 trillion floated earlier; the roadshow could start this week (Nov 8) Read more
Banks not disclosed yet
Disclosure: Anthropic makes Claude, the assistant that wrote this brief. - Shield AI agrees to buy radar maker Echodyne in a deal valued at up to $5.3 billion, alongside a $1 billion funding round at a $28.8 billion valuation (Nov 5) Read more
Banks not disclosed yet (Covington advised Shield AI as legal counsel) - OpenAI reportedly closes a first $11 billion of a new funding round at a $1.25 trillion valuation (Nov 8) Read more
Banks not disclosed yet
Why it matters for IB
A richly valued private company can use its shares as acquisition currency, and pairing the deal with a new raise gives it cash for the rest; bankers weigh stock versus cash by how confident the seller is in the buyer's valuation.
Macro & Policy
- October CPI comes out Tuesday, with Fed officials Waller, Logan, Schmid and Bowman also speaking. Read more
- The economy added 165,000 jobs in October, far above the forecast of about 59,000; unemployment dipped to 4.1%. Read more
- Markets lean toward a December Fed hike, with CME FedWatch odds above 65% after the jobs report. Read more
- Brent ended the week near $98, down about 16%, on bets for a U.S.-Iran deal; Japan's Nikkei entered a bear market. Read more
Earnings & Coming Up
- Today: markets closed; stock futures open at 6 PM ET.
- Mon Nov 9: Constellation Energy and Barrick before the open; Occidental and Rocket Lab after the close; possible start of Anthropic's IPO roadshow.
- Tue Nov 10: October CPI (8:30 AM); CoreWeave and Rigetti after the close.
- Wed Nov 11: Veterans Day; bond market closed.
- Thu Nov 12: jobless claims (8:30 AM); Cisco and Applied Materials after the close.
Finance in a Line
Book-building. the IPO process where underwriters collect investor orders during the roadshow to set the final offering price. Why it matters: investors pushing back on Anthropic's valuation is book-building in action.
“Success is peace of mind, which is a direct result of self-satisfaction in knowing you made the effort to do your best to become the best that you are capable of becoming.”
John Wooden
Sources: Yahoo Finance, BLS, TipRanks, FinanceFeeds, StockTitan, Covington, investingLive, public prediction market data.