Traders work on the floor of the New York Stock Exchange in New York, United States, November 10, 2026.
Brendan McDermid | Reuters
Nasdaq-100 futures fell Wednesday evening as Nvidia shares slipped following a report that the chip giant’s board was preparing to oust CEO Jensen Huang.
The future is linked to technologies Nasdaq-100 lost 0.8%, while S&P 500 Futures Contracts fell 0.4%. Dow Jones Industrial Average Futures have changed little.
Japan’s Nikkei 225 was slightly higher in choppy trading on Thursday. South Korea’s Kospi, dominated by Nvidia suppliers Samsung and SK Hynix, fell 0.35%. Hong Kong’s Hang Seng Index fell 1.03% while China’s CSI 300 Index was little changed. Australia’s S&P/ASX 200 index fell 0.31%.
In expanded U.S. trading, sales resumed at Nvidia after The New York Times reported that Huang was having an extramarital affair with a company executive. The Wall Street Journal also reported that Nvidia’s board was preparing to remove Huang from his position. Shares were last down about 8%.
In regular trading, the Dow increased by almost 255 points, or 0.5%. The S&P 500 rose 1.3% and the Nasdaq Composite rose 1.6%. The gains were fueled by a post-earnings advance of CoreWeave and a rebound at Nvidia.
Investors are wondering whether the AI-driven rally has more room to run given Nvidia’s recent weakness, while CoreWeave’s better-than-expected results and improved revenue outlook have bolstered the long-term growth story heading into Thursday’s session.
Enthusiasm for AI could drive markets, with additional momentum coming from Anthropic’s upcoming IPO. However, macroeconomic and political risks argue in favor of a certain selectivity rather than a search for performance, according to Sameer Samana, head of global equities and real assets at the Wells Fargo Investment Institute.
“We would be a little cautious about the rebound because some things are changing at the margins (like) stubborn inflation, further Fed rate hikes, higher long-term interest rates, a changing configuration in Washington DC (and) AI and data center regulatory requirements,” he said.
Callie Cox, director of investment strategy at Plancorp, said the tension between AI optimism and macroeconomic concerns could continue to weigh on sentiment.
“Lately, the stock market has found itself engaged in a bitter battle between AI hope and fear around interest rates and inflation,” she said. “There doesn’t seem to be much between the two, and something may have to give.”
Investors are now looking to upcoming economic data for additional clues on inflation, the job market and the broader outlook. On Thursday, the market will receive the first data on jobless claims at 8:30 a.m. ET, followed by existing home sales at 10:00 a.m.
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