Tormere After-Market Digest
September 11, 2026
Prepared by Tormere Research Team (TRT)
Top headlines
August CPI runs hot, cements case for a Fed hike
Headline CPI rose 0.4% in August (3.4% y/y); core CPI came in 0.1pt above forecast at 0.3% m/m. Money markets now see a September Fed hike as nearly a done deal. CNBC, Bloomberg, ING
Saudi Arabia shuts East-West pipeline after strikes
Riyadh took its crucial East-West crude pipeline offline as a precaution following attacks in the Riyadh and Madinah regions, keeping oil markets on edge into the weekend. CNBC
Dell surges on record AI server bookings, raises guidance
Dell shares jumped as much as 12% after fiscal Q2 results beat and management lifted full-year revenue guidance to a $192B midpoint on a record $60.9B AI server order backlog. Yahoo Finance
Consumer sentiment sinks to 47.8 on inflation, oil
UMich's preliminary September sentiment read fell from 51.7 in August, as rising pump prices and hot inflation data weighed on households. CNBC
Markets close
Close: Sep 11, 2026, 4:00 PM ET
| Asset | Close | Chg | % |
|---|---|---|---|
| S&P 500^GSPC | 7,656.98 | +65.28 | +0.86% |
| Nasdaq Composite^IXIC | 26,333.04 | +251.31 | +0.96% |
| Dow Jones^DJI | 52,573.29 | +509.19 | +0.98% |
| CBOE VolatilityVIX | 15.84 | -2.00 | -11.21% |
| Brent CrudeBZ=F | $104.42 | -$3.21 | -2.98% |
| GoldGC=F | $4,390.00 | -$17.30 | -0.39% |
| BitcoinBTC-USD | $77,103 | +$535 | +0.70% |
| EthereumETH-USD | $2,514 | +$77 | +3.15% |
U.S. Treasury yields
Prints through Sep 10, 2026 · Sep 11 not yet published
30 days ago
Prior close
Latest close
Sectors & breadth
Sector performance
Technology · XLK+1.3%
Industrials · XLI+1.1%
Comm. Svcs · XLC+1.0%
Cons. Disc. · XLY+0.9%
Advancers led decliners 2.3-to-1
DELL+12.0%
OXY+2.6%
ABBV+2.1%
DAL-2.4%
UAL-2.0%
Economic calendar
High
Medium
Low
6-business-day outlook · times ET · consensus via ForexFactory, Trading Economics
A actual · F forecast · P previous · IP industrial production
11
Fri
Today
USD8:30 AM · released
CPI & core CPI (Aug)
Headline A +0.4% (3.4% y/y) F +0.3% P +0.1% · Core A +0.3% (2.4% y/y) F +0.2% P +0.2%
USD10:00 AM · released
UMich sentiment (prelim)
A 47.8 · P 51.7 · steep drop on inflation, gas prices
Earnings recap: DELL +12.0% on record AI server bookings, raised FY27 guidance
14
Mon
USD8:30 AM
Empire State manufacturing index (Sep)
F 4.0 · P -4.7
USDall day
FOMC "quiet period" continues
No Fed speakers ahead of Tue's meeting
No confirmed earnings.
15
Tue
USDall day
FOMC meeting begins (day 1 of 2)
Decision due Wednesday, 2:00 PM
GBP2:00 AM
CPI y/y (Aug)
F 3.4% · P 3.6%
USD8:30 AM
Retail sales m/m (Aug)
F +0.3% · P +0.5%
16
Wed
USD2:00 PM
FOMC rate decision & press conference
F +25bps to 4.25-4.50% · P 4.00-4.25% · money markets price hike as near-certain post-CPI
USD9:15 AM
Industrial production m/m (Aug)
F +0.2% · P -0.1%
EUR5:00 AM
Eurozone CPI final (Aug)
F 2.3% · P 2.2%
17
Thu
USD8:30 AM
Initial jobless claims
F 230K · P 234K
USD8:30 AM
Housing starts & building permits (Aug)
F 1.36M · P 1.43M
JPYall day
BoJ meeting begins (day 1 of 2)
Decision due Friday, overnight ET
18
Fri
JPY12:00 AM
BoJ policy rate decision (day 2)
F held 0.75% · P 0.75%
USD10:00 AM
Existing home sales (Aug)
F 3.95M · P 4.01M
EUR4:00 AM
Flash composite PMI (Sep)
F 51.5 · P 51.2
The forward look
TRT thesis
CPI came in hot today, with odds very in favor for a rate hike. Watch Tuesday's blackout-period exit and Wednesday's dot plot. With Brent still above $100 and Saudi Arabia's pipeline shutdown keeping supply risk elevated, energy pass-through argues for a hawkish Fed even as growth data (retail sales, industrial production) holds up. Market overall green despite Fed turmoil. Stay tuned.
Tormere Research Team · Tormere Analytics
tormere.com · Not investment advice