Stocks Cool Off as Rising Yields Fuel Rate Hike Fears

Wall Street took a breather today, as hotter-than-expected inflation data poured cold water on the recent rally. The Dow gave back xx points, while the S&P 500 and Nasdaq both finished modestly lower, as Nvidia (NVDA) extended its selloff. Bond yields spiked after the October CPI data, and CME's FedWatch tool now showing a 90.5% chance the Fed hikes rates at its December meeting. Despite the red ink, Wall Street's "fear gauge," the Cboe Volatility Index (VIX), fell for the third-straight day.

• 25 ETFs to target now that the midterms are over.
• Unpacking today's unusual options volume.
• Plus, a fintech in focus; Palantir's 'buy' signal; and a crypto stock upgraded. 

5 Things to Know Today

1. High beta growth stocks with a large week ahead.
2. Schaeffer's Power Five: get all our favorite options strategies under one roof.
3. This fintech stock could surprise options traders.
4. Buy the dip on Palantir stock? This signal says so.
5. Crypto platform stock earns overdue upgrade.

Commodities Move Lower After October CPI

Oil prices moved quietly lower today. December-dated West Texas Intermediate (WTI) shed 0.9%, or 78 cents, close at $86.82. 

The inflation data sent gold prices lower today as well. December-dated gold futures fell 1.7% to settle at $4,043.70 per ⁠ounce.