Dow and S&P 500 rise as Nvidia shares drop on CEO probe (9 Nov)

Nvidia shares decline amid investigation into Jensen Huang

Nvidia stock dropped approximately 6% amid these reports. Shares fell more than 5% in premarket trading. At 05:10 ET, Nvidia shares were down 4.5%.

The company stated it has no reason to believe U.S. national security or company secrets were compromised. China's Foreign Ministry described the allegation regarding the CEO as unsubstantiated.

Jensen Huang addressed the situation in an email to employees, stating, "I was unfaithful to my wife. My actions hurt her and our children. I am deeply sorry." Dan Ives of Yorkville Ives described the controversy as a "black eye moment" for Nvidia and warned that it could create uncertainty for investors.

Investors have felt unsettled by the movement in Nvidia stock. In premarket trading, the SPY, which tracks the S&P 500, rose 0.31% to $733.67, and the QQQ, which tracks the Nasdaq 100, rose 0.03% to $656.32. Bitcoin was trading at $74,110 per coin, a 2.3% decline over the previous 24 hours.

Oil prices fall as President Trump signals restraint on Iran

Brent crude and West Texas Intermediate oil prices fell nearly 4% as President Donald Trump signaled he is reluctant to resume strikes on Iran. International benchmark Brent crude prices declined by more than 3% to around $93.8 per barrel.

Brent crude prices fell below $94 per barrel, marking the largest weekly decline for the commodity since April 2020. West Texas Intermediate crude futures decreased by nearly 3% to approximately $88 per barrel. Crude Oil West Texas Intermediate futures fell 0.4% to $90.47 per barrel.

Market recovers from four weeks of consecutive losses

Technology stocks recovered on November 9, 2026, after suffering losses due to investor concerns regarding potential artificial intelligence regulations following strong midterm results for the Democrats. Market participants are purchasing stocks that recently saw sharp price declines, based on the belief that these assets are now undervalued.

The S&P 500 experienced its worst week since April 2025, declining 2.7% during the week ending prior to November 9, 2026.

Consumer staples, financial, and real estate stocks recorded the largest losses on the S&P 500 on Friday, while information technology and communication services were top performers.

Federal Reserve outlook and upcoming economic data

Federal Reserve funds futures indicate a 78% to 80% probability of a December rate hike following October payroll data that showed an increase of 165,000 jobs. The CME Group’s FedWatch tool indicates an 80.5% probability that the Federal Reserve will hike interest rates during its December meeting. The 10-year Treasury bond yield is 4.864% and the two-year bond yield is 4.53%.

The SPDR S&P 500 ETF rose 0.31% to $733.67, and the Invesco QQQ Trust rose 0.03% to $656.32.

October Consumer Price Index data is expected to be released on Tuesday, November 10, 2026, at 08:30 ET, with economists forecasting a 0.3% monthly increase. Scheduled economic data releases for this week include the NFIB Index on Tuesday, weekly jobless claims on Thursday, and the Producer Price Index on Friday. Federal Reserve officials scheduled to speak this week include Austan Goolsbee, Thomas Barkin, Lorie Logan, Jeff Schmid, Michelle Bowman, and Beth Hammack.

Corporate earnings and individual stock movements

Nvidia shares closed at $186.64 on Friday, November 6, with the company scheduled to report third-quarter results on November 17. AMD shares closed at $449.04 on November 6, and analyst Rick Schafer of Oppenheimer set a price target of $600 for the stock on November 9. NVR shares increased by more than 26% in pre-market trading on November 9.

The company launched its Robotaxi service in San Antonio, Texas, at 5 a.m. Central Time on November 9, covering a 275-square-mile area. Musk noted that the order rate for the Cybertruck exceeds production capacity, and the company will return deposits to customers after shutting down the line in approximately eight months. Musk also stated that the decision to shift focus is based on the fact that "the opportunity cost of the complexity of Cybertruck is vastly outweighed by the value of incremental Cybercab production," while denying the Cybertruck is unprofitable. According to Kelley Blue Book data, U.S. Cybertruck sales declined by 48% in 2025.

CoreWeave shares fell approximately 3% on November 9 ahead of its November 10 earnings report, where analysts expect an adjusted loss of $1.21 per share and a 160% revenue increase to $3.54 billion. Investor Michael Burry reduced his bearish position in Caterpillar by 75% after his put options gained approximately 300% in value. The company highlighted progress on BlueBird 51 satellite production and is preparing for a Blacklift rocket unveiling on Thursday.

Occidental shares rose more than 1% in pre-market trading ahead of earnings results expected to show $1.46 per share on $6.79 billion in revenue. Constellation shares rose 0.58% in pre-market trading ahead of expected results of $3.85 per share on $9.37 billion in revenue. Lucid shares fell 1.2% in pre-market trading ahead of earnings expected to show a loss of $2.32 per share on $382.57 million in revenue. Other companies scheduled to report quarterly results include Take-Two Interactive Software, Skydance, Rocket Lab USA, GoPro, and Trump Media & Technology Group.

Analyst warnings and market disclaimers

Benzinga’s Edge Stock Rankings indicate that Nvidia, Constellation, Lucid, and AST SpaceMobile maintain weak price trends in the long, medium, and short terms.

Analysts at the Schwab Center for Financial Research noted that investors are seeking stability following last week's market turbulence, with a light calendar before the October Consumer Price Index report on Tuesday. Collin Martin of the Schwab Center for Financial Research stated that while weak demand can be concerning, demand has generally held up and remains attractive given current yields.

The firm also states that past or modeled performance of financial instruments should not be interpreted as a promise or guarantee of future performance.