U.S. stocks surge, semiconductor index soars 5.7%! CoreWeave jumps 24.7%, and major changes at Nvidia reportedly emerge after the market close.
01｜All three major U.S. stock indexes rebound
The S&P 500 rose 1.31%, the Nasdaq gained 1.60%, and the Dow climbed 0.49%. The technology sector was the main driver.
02｜Semiconductor sector rebounds strongly
The Philadelphia Semiconductor Index rose about 5.7%, with all of its constituents gaining, to its highest closing level since November 3.
03｜Breaking news about Nvidia after the market close
The Wall Street Journal, citing people familiar with the matter, reported that Nvidia's board is considering replacing CEO Jensen Huang. After the news broke, NVDA briefly fell about 8% in after-hours trading.
Important reminder: The relevant decision has not yet been officially confirmed by Nvidia, and Reuters has said it could not independently verify the report. It cannot be concluded that Jensen Huang has been dismissed.
04｜CoreWeave surges 24.7%
AI cloud services company CRWV posted its biggest one-day gain in more than three months, as investors refocused on its profit outlook and demand for computing power.
05｜AI infrastructure stocks rise across the board
Nebius rose 15.4% and Applied Digital gained 7.4%, signaling a marked recovery in AI data center stocks.
06｜Memory chip stocks rebound strongly
SanDisk rose about 14%, while Micron and Dell each gained around 12%, putting AI servers and the memory supply chain in the spotlight.
07｜VIX falls to 17.49
The Cboe Volatility Index fell for a fourth consecutive trading day, but the closing figure does not reflect the breaking Nvidia news after hours.
08｜Dollar continues to strengthen
The dollar index rose about 0.7% to 102.92. The dollar approached 160 yen, putting Japan’s exchange rate policy moves in focus.
09｜Fed rate hike expectations for December rise
Markets have fully priced in expectations for at least a 25-basis-point rate hike, with the probability of a 50-basis-point hike at about 10.4%.
10｜Gold falls below $4,000
Spot gold fell to $3,986.79 an ounce at around 02:51 Beijing time. U.S. December gold futures settled at $4,000.50.
11｜Brent crude rises again
Brent futures settled at $92.76 a barrel, up 1.39%. Geopolitical risks in the Middle East continue to affect supply expectations.
12｜European stocks hit another record high
The STOXX 600 closed at 663.05, a record closing high, with technology and energy stocks performing well.
13｜Corteva reports earnings
The agricultural technology company’s third-quarter revenue fell 9% year over year, with demand in Brazil and product price competition continuing to weigh on results.
14｜Franco-Nevada profit grows
The gold royalty and streaming company’s third-quarter revenue rose 13% year over year, with adjusted earnings per share of $1.89.
15｜Japanese corporate prices rise 7.1%
Japan’s domestic corporate goods price index rose 7.1% year over year in October. Import price pressures persist, and markets are watching the Bank of Japan’s interest rate policy.
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Market Overview
📈 U.S. stocks: The three major indexes rebounded, led by the technology sector.
💻 AI and semiconductors: Chip, memory, and computing infrastructure stocks rebounded strongly, but significant uncertainty emerged around Nvidia after hours.
💵 U.S. dollar: The dollar index strengthened, and expectations of tighter monetary policy remain pronounced.
📉 U.S. Treasuries: The U.S. cash bond market was closed on November 11 for Veterans Day.
🥇 Gold: Spot gold briefly fell below $4,000 as a strong dollar continued to weigh on prices.
🛢️ Crude oil: Brent rose, with the risk premium from Middle East tensions back in focus.
₿ Cryptocurrency: The latest complete ETF fund-flow data is still awaiting confirmation; a rebound in U.S. stocks alone is not enough to conclude that institutional funds have returned.
Market view today:
What stands out most about this rebound is not just the Nasdaq’s gain, but the broad-based rally in semiconductor, memory, AI cloud services, and data center stocks.
At the same time, the dollar remains strong, gold is weak, and significant uncertainty around Nvidia’s management emerged after hours.
The market is choosing a new direction, and the tug-of-war between industry fundamentals, macro interest rates, and corporate governance risks is far from over.
Watch for answers to three questions:
① Can Nvidia clarify the management news and stabilize its share price?
② Can the gains in AI and semiconductor stocks continue?
③ Will the dollar and Treasury yields continue to pressure risk assets?