The Factor Report

Market Wrap

For the week ended November 13th, 2026, stocks were higher everywhere. Bonds were lower for the week as the iShares Core US Aggregate Bond ETF (AGG) fell 1.5% with yields rising; the 10-year US treasury yield increased to 5.15%, according to Yahoo Finance. Asset price drivers of the week:

• On Monday, stocks continued their recovery from the prior Thursday's sell-off. With no data to react to, investors were eyeing falling oil and which stocks might have been babies thrown out with bath water.
• Tuesday saw a reversal as stocks fell after a report showed that consumer prices rose more than expected in October. This reignited bets on a Federal Reserve rate hike next month (December 8-9).
• Indices rose again on Wednesday after Coreweave announced strong results Tuesday evening, carrying Tech stocks with it. Nvidia also got a bounce given how weak it had been.
• Stocks fell on Thursday after trying to stage an early rally. Interest rates were on the rise as investors looked forward to Friday's Producer Price Index report. Nvidia, a major index component, saw a sharp drop after its CEO, Jensen Huang, stepped down after multiple affairs were revealed.
• It was a mixed day on Friday, but major US indices slipped after producer prices came in higher than forecasts and Nvidia continued to fall.
• Next week will be relatively quiet, although we will get a speech from Fed Chairman Kevin Warsh, retail sales, housing starts, and consumer sentiment/expectations. We will also get earnings from Nvidia (which may not matter much), Home Depot, and Disney.

Performance Summary

As shown in the chart, the US was this week's winner, followed by Non-US Developed. Within the US, the Tech-heavy Nasdaq far outpaced the broader market and the more traditional stocks of the Dow Jones Industrial Average. From a factor perspective, Momentum, Value, and Low Volatility in the US beat the broader S&P 500.

In The News

Who is being considered to take over the helm at Nvidia?

https://www.marketwatch.com/story/who-can-replace-jensen-huang-as-nvidia-ceo-these-four-names-are-buzzing-in-ai-circles-66c31ec2?mod=home_lead

What to know about yesterday's ground stop.

https://www.cnbc.com/2026/11/14/faa-ground-stop-flights-resume-delays.html

Why one strategist thinks stocks can still rise without earnings growth.

https://www.marketwatch.com/story/earnings-growth-is-set-to-peter-out-but-not-the-bull-market-says-goldman-sachs-heres-what-the-firm-recommends-bf409a6d?mod=home_lead

Disclosures

Past performance may not be indicative of future results. Different types of investments involve varying degrees of risk. Therefore, it should not be assumed that future performance of any specific investment or investment strategy will be profitable or equal the corresponding indicated performance level(s). Moreover, you should not assume that any of the above content serves as the receipt of, or as a substitute for, personalized investment advice from Metric Financial.

All data and performance information sourced from investing.com and MarketWatch, unless otherwise indicated.

USA is the MSCI USA index, Non-US Developed is the MSCI EAFE index, Emerging Markets is the MSCI Emerging Markets index, and All Country World is the MSCI ACWI index. One cannot invest in an index. Because the factor indexes have varying inception dates, some of the returns provided are back-tested and do not represent actual performance. Inception dates are as follows:

Momentum = MSCI ACWI Momentum NR USD Index (Inception: 11/30/95)

Value = MSCI ACWI Enhanced Value NR USD Index (Inception: 5/29/15)

Quality = MSCI ACWI Quality NR USD Index (Inception: 5/29/92)

Low Volatility = MSCI ACWI Minimum Volatility (USD) NR USD Index (Inception: 5/28/93)

Size = MSCI ACWI Risk Weighted NR USD Index (Inception: 4/6/11)

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All written content is for information purposes only. Opinions expressed herein are solely those of Metric, unless otherwise specifically cited. Material presented is believed to be from reliable sources and no representations are made by our firm as to another parties’ informational accuracy or completeness. All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation.