Upbeat AI Forecasts After the Bell, and Futures Inch Higher

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The one thing that matters tonight

Two AI suppliers reported upbeat outlooks after the bell. Cisco raised its fiscal 2027 revenue forecast to $74.8 billion to $75.8 billion, up from $72.2 billion to $73.4 billion, on strong demand for its AI networking equipment, Reuters reported. Applied Materials forecast first-quarter revenue of about $11.10 billion, plus or minus $500 million, above the $10.89 billion analysts expected (LSEG data), and CEO Gary Dickerson said, "We expect 2027 to be another record year for the market and Applied," Reuters reported. Stock futures inched higher Thursday evening, CNBC reported.

Our read

Here's what jumps out: the day's two big worries weren't about AI demand. One was who runs Nvidia, and the other was a 10-year yield near 5.1%. Tonight's reports speak to the first worry, not the second. Companies that sell the picks and shovels of AI are still seeing strong orders. Bonds are a different story, and PPI in the morning is the next test for them.

The reopen

Stock futures inched higher Thursday evening after the day's dip, CNBC reported.

Update (Nov 13, 2:50 AM CT): Overnight, S&P 500 futures were down 0.1% and Nasdaq futures down 0.3%, the 10-year Treasury yield rose to 5.1433%, a three-week high, and gold was up 0.5% at $3,896.33 an ounce, Reuters reported in a story updated at 12:45 AM CT. In Asia, the Nikkei was up 0.55% and the Kospi down 0.85%.

Spot gold was down 2.38% at $3,890.46 in early US trading Thursday, at its lowest in more than a week, Kitco reported. That's the latest news figure we have tonight.
Applied Materials shares were marginally higher in late extended trading, Reuters reported in an updated story.

Asia tonight

Time CT	Market or event	Consensus	Why it matters
6:00 PM	Tokyo and Seoul open	—	Chip-heavy markets get their first full session after Nvidia's CEO exit, plus tonight's upbeat chip-equipment forecast from Applied
7:30 PM	Hong Kong and Shanghai open	—	Asia weighs a 10-year US yield near 5.1% and Brent near $96 in Thursday afternoon trading (AP)

Historical data the last 5 producer prices (PPI)

Released	Actual vs expected	Surprise	S&P 500	Nasdaq	Gold
Thu, Oct 15, 2026Sep 2026	Headline +1.3% m/m vs +0.5%	Hotter	+0.3%	+0.1%	Spot +1.20% to $4,154.16
Thu, Sep 10, 2026Aug 2026	Core +0.2% m/m vs not confirmed	not confirmed	-0.6%	-0.7%	Spot -1.39% to $4,340.78
Thu, Aug 13, 2026Jul 2026	Core +0.2% m/m vs not confirmed	not confirmed	+0.7%	+0.8%	Spot -0.47% to $4,387.56
Wed, Jul 15, 2026Jun 2026	Core +0.2% m/m vs not confirmed	not confirmed	+0.4%	+0.6%	Spot +0.33% to $4,064.90
Thu, Jun 11, 2026May 2026	Core +0.4% m/m vs not confirmed	not confirmed	+1.8%	+2.5%	Spot -0.24% to $4,062.04

What happened, not what will. Closing moves for the day; sources on each row.Full history →

Why this report mattersChapter 5, Prices start rising →

Carried over from the US session

The S&P 500 fell 0.4% to 7,592.40, the Dow fell 189.40 points to 52,297.09 and the Nasdaq fell 0.4% to 25,366.09, AP reported. The Russell 2000 dropped 1.7%.
Nvidia said Jensen Huang resigned as CEO and from its board, effective immediately; CFO Colette Kress is interim CEO while the board searches for a permanent one. Nvidia plunged 14% at the open and was down 5.4% with about an hour left in trading, AP reported.
In the afternoon, the 10-year Treasury yield rose to 5.10% and Brent crude was up 3.3% at $95.82 a barrel, AP reported.
Nvidia still reports quarterly results Tuesday, Nov. 17, after the close, the company said.

What could move NQ, ES and gold overnight

How Asia's chip stocks take Applied's forecast. Seoul and Tokyo are full of chip and chip-equipment makers, so they're an early read on whether tonight's upbeat numbers outweigh Nvidia's leadership question.
Yields. Bond trading runs overnight, and the 10-year jumped to 5.10% Thursday from 4.98% late Tuesday, AP reported. Gold has been falling as rate-hike bets build, not rising as a safe place to hide.
Any Nvidia headlines. The board has just started a search for a permanent CEO, and Nvidia's swings shaped Thursday's session.

What we're watching for the morning

Time CT	Event	Consensus
7:30 AM	US October producer prices (PPI)	—
Tue, Nov. 17	Nvidia quarterly results, after the close	—

PPI lands as bets on more Fed rate hikes build, Kitco reported. Does a hot number add to them?
Do Cisco and Applied help chip and networking stocks at the open, after a day when Nvidia dragged on the group?
Does the 10-year hold above 5%?

The short version (the what and the result)

Cisco raised its full-year revenue forecast, and Applied Materials forecast quarterly revenue above estimates, both on AI demand (Reuters).
Stock futures inched higher Thursday evening (CNBC).
At the close: S&P 500 −0.4%, Nasdaq −0.4%, Dow −189 points (AP). In afternoon trading, the 10-year was about 5.10% and Brent was up 3.3% (AP).
Tokyo and Seoul are open now; Hong Kong and Shanghai at 7:30 PM CT. PPI is at 7:30 AM CT.