Markets Seek Optimism as Equities Rebound, Europe Outperforms; Oil Slides on Middle East Developments
Financial markets are attempting to regain some optimism, although sentiment remains in neutral territory. Developments in the Middle East are pushing oil prices towards the weak zone (40 score points), while European equities are showing the most convincing signs of strength, particularly in the financial sector. In the US, the technology sector remains in limbo amid developments surrounding the Nvidia affair and expectations for further details on Anthropic’s IPO. On the macro front, all eyes are on October 2026 inflation data (month-on-month change only). Futures point to a flat opening for US markets and a positive start for Europe.
Market Weather Map
November 10, 2026
US Equities
Eu Equities
Asia Equities
Commodities
Bonds
Dollar Index
Technology
Gold
Oil
Crypto
Market Summary
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Financial markets are currently showing neutral to moderately negative sentiment. Intermarket analysis highlights a Market Health Score of 42/100. Our intermarket dashboards are showing signs of improvement, although risk appetite remains tilted towards caution.
The S&P 500/VIX ratio is recovering compared with previous sessions but remains below its long-term moving average. Meanwhile, the S&P 500/Nasdaq ratio continues to trend upwards, with the crossover between the medium- and long-term moving averages nearing completion. Finally, the Dow/Gold ratio is bouncing off its medium-term moving average, maintaining its short-term uptrend.
Markets are showing some signs of optimism regarding the situation in the Middle East. The Oil/Gold ratio continues to decline, returning to early-September levels and approaching support at its long-term moving average. At the same time, the correction in the Commodities/Bonds ratio is continuing, with a test of support at the long-term moving average also appearing to be the likely next target. Gold is posting marginal gains against the US dollar but remains below both its medium- and long-term moving averages.
There are few new developments across asset classes. Global bonds are attempting to hold above their long-term moving average, while global equities are recovering from last week’s setback but remain in a weak phase. Commodities are being weighed down by the decline in the energy component and remain below their medium-term moving average.
Our market weather map confirms that equities remain in neutral territory, with North America and Asia both hovering just below the 50-point threshold, while the gap with the technology sector continues to widen. Oil is approaching the weak zone, while bonds and the US dollar remain broadly stable. Gold is posting a marginal recovery, whereas cryptocurrencies remain weak.
Looking at weekly changes, oil has recorded a 9-point decline, while the European financial sector stands out as one of the strongest performers.
Global Futures – Pre-Market Sentiment
Pre-Market Futures: Global futures point to a risk-on sentiment (+0.78% average), with the US slightly positive (+0.15%), Europe strongly positive (+1.57%) and Asia marginally positive (+0.11%).
📊 Global Futures – Pre-Market Sentiment
- FTSE MIB: +3.20%
- IBEX 35: +2.66%
- CAC 40: +1.68%
- Nikkei 225: -0.21%
- Nifty 50: +0.04%
- US Tech 100: +0.12%
Macroeconomic calendar
On the macroeconomic front, today’s agenda includes Chinese export data and US inflation figures for October 2026 (month-on-month change only).
Assets to watch
Data as of Nov 9, 2026We have split the KBMeter scores into three bands, depending on their value: Weak, Intermediate or Strong. Here you can see which bands are most at risk of changing over the next 5 days and which ones hold.
The number on the right is the share of similar past cases in which the band had changed after 5 days. The higher it is, the more likely it is to change. The arrow in the current band appears when the asset is close to the border with the neighbouring band.
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It does not say whether the price will rise or fall and it is not investment advice.
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NOTES AND WARNINGS
Data compiled by kbmeter.com. Analysis date: 10 November 2026 - 8:07 AM GMT+1
This content is provided for informational purposes only and should not be considered financial advice. All scores and assessments are based on the previous trading day’s closing prices. Futures indications refer to the date and time of the analysis.