Nasdaq Jumps Over 4% This Week as Chip Names Drive a Sharp Midweek Rally

VANCOUVER, BC, Nov. 11, 2026 /CNW/ -- Stock Preachers News Commentary - Stocks staged a broad midweek advance, with the Nasdaq Composite climbing 2.06% on the session and 4.08% for the week to 25,583.42, while the S&P 500 added 1.4% on the day for a 3.38% weekly gain and the Dow rose 2.05% over the same stretch. The Russell 2000 gained 3.27% for the week. Volatility eased sharply, with the VIX down 2.10 points and the VXN down 5.45 points from last week, even as one closely watched chipmaker found itself sidelined by headlines rather than earnings. Active Companies from around the markets with current developments this week include: Enbridge (TSX: ENB), Sunlife (TSX: SLF), RBC (TSX: RY), Lilly and Hims & Hers (NYSE: LLY) (NYSE: HIMS), and NVIDIA Corporation (Nasdaq: NVDA).

The Nasdaq Composite closed at 25,583.42, just below its 18-day EMA resistance near 25,665.43 and its 20-day SMA resistance at 25,802.96, while support sits at 25,526.46. The S&P 500 ended at 7,626.55, a whisker under resistance at 7,638.17 (50-day EMA and 90-day SMA) with support at 7,616.78. The Dow closed at 52,337.86, between support at 52,240.17 and resistance at 52,446.23.

The Russell 2000 added 0.81% on the day to 2,844.20, with resistance at 2,864.83 and support at 2,831.04. RSI readings across the major indices hover near neutral, from 46.8 on the Nasdaq to 53.9 on the Russell 2000, suggesting room to run in either direction. Volume on the S&P 500 topped 1.1 billion shares.

In commodities, WTI crude rose 1.88% on the day to $87.66 a barrel, up 0.93% for the week and up 52.66% year to date. Gold slipped 0.57% to $4,007.30 an ounce, down 2.61% for the week, while silver gained 1.92% on the day to $52.08. The 10-year Treasury yield reached 5%, up 14 basis points for the week, and the VIX closed at 17.82.

The full report also ladders out key support and resistance levels for every major index and surveys sentiment heading into the rest of the week.

CONTINUED... Read this and more news for Enbridge (TSX: ENB), Sunlife (TSX: SLF), RBC (TSX: RY), Lilly and Hims & Hers (NYSE: LLY) (NYSE: HIMS), and NVIDIA Corporation (Nasdaq: NVDA) at: https://stockpreachers.com/articles/chips-lead-a-furious-midweek-comeback-as-the-tape-turns/

In other industry developments and happenings in the market this week include:

Enbridge (TSX: ENB) Enbridge reported third quarter GAAP earnings attributable to common shareholders of $1.3 billion, or $0.59 per common share, compared with $0.7 billion, or $0.30 per common share, a year earlier. Adjusted earnings came in at $1.1 billion, or $0.49 per common share, versus $1.0 billion, or $0.46 per share, in 2025. Adjusted EBITDA rose to $4.4 billion from $4.3 billion.

The company reaffirmed its 2026 full year financial guidance and medium-term outlook, placed over $3 billion of gas transmission projects into service during the quarter, and closed acquisitions including Salt Creek Midstream's crude oil gathering business for US$0.6 billion and announced a US$2.6 billion deal for Tallgrass Energy's crude oil business.

"Our secured growth backlog stands at $38 billion, even as we placed $3 billion of completed projects into service this quarter," said Greg Ebel, President and CEO. "We've consistently added new projects to our backlog this year, positioning us well to deliver on our $10-20 billion target for new project announcements through 2027." Read the release.

Sunlife (TSX: SLF) Sunlife reported third quarter underlying net income of $1,146 million, up $99 million or 9% from Q3'25, with underlying EPS of $2.05, up 10% year over year. Reported net income fell to $785 million, down $321 million or 29%, with reported EPS of $1.40, down 29%.

Underlying ROE was 19.0% versus 18.3% a year earlier, while reported ROE was 13.0% versus 19.3%. Assets under management rose to $1,676 billion, up $53 billion or 3% from Q3'25, and the company raised its common share dividend from $0.96 to $1.00 per share. The SLF Inc. LICAT ratio stood at 142%.

"Sunlife delivered a solid third quarter, with growth across Canada, Asia, U.S. stop loss, and GreenOak," said Kevin Strain, President and CEO of Sunlife. "Our diversified global strategy delivered robust continued momentum in insurance and wealth led by Canada and Asia, and new sources of growth in asset management." Read the release.

RBC (TSX: RY) RBC announced an agreement to acquire Yarra Capital Management Limited, an Australian active management firm specializing in fixed income, equities and alternative investment solutions. Yarra, founded in 2017 with offices in Melbourne and Sydney, managed approximately AU$18 billion in assets and employed about 75 people as of September 30, 2026.

The deal is expected to close in the first quarter of 2027 and is not expected to materially affect RBC's CET1 ratio or annualized earnings. Read the release.

Lilly and Hims & Hers (NYSE: LLY) (NYSE: HIMS) Eli Lilly and Hims & Hers announced an agreement to expand access to Zepbound (tirzepatide) and Foundayo (orforglipron) through the Hims & Hers platform. Eligible patients who receive a prescription from a licensed provider will be able to access self-pay pricing starting at $149 per month for Foundayo and $299 per month for Zepbound.

Patients can complete a consultation, receive a prescription if appropriate, and have the FDA-approved medicine shipped directly to their home through the platform. Hims & Hers has committed not to offer compounded copies of Lilly's GLP-1 medicines.

"At Lilly, we are always looking for new ways to help more people get the medicines they need, and that means meeting patients where they already are," said Ilya Yuffa, Executive Vice President and President, Lilly USA and Global Customer Capabilities. Andrew Dudum, co-founder and CEO of Hims & Hers, said the companies are "showing the industry what innovators can achieve for customers everywhere when we work together to make the world well." Read the release.

NVIDIA Corporation (Nasdaq: NVDA) A law firm notice disclosed that Nvidia's share price has fallen almost to a yearly low, with $500 billion wiped from its stock market value since Friday, November 6, 2026. The notice cites allegations involving the company's relationship with a firm called Megaspeed, which it says is suspected of helping China evade export controls.

Nvidia said on Tuesday, November 10, 2026, that it had hired law firm Wachtell, Lipton, Rosen & Katz to conduct what the company called "a thorough and independent investigation," with the FBI also conducting its own probe, according to the notice. Read the release.

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