TLDR
- US stock futures edged higher Friday, with all three major indexes on track for weekly gains.
- Nvidia shares fell 4.3% Thursday, then rose in early trading after CEO Jensen Huang stepped down.
- The 10-year Treasury yield hit 5.10%, its highest level since October.
- Traders are bracing for a possible December rate hike after a hot inflation report.
- October producer prices are due at 8:30 a.m. Eastern, and Nvidia reports earnings Tuesday.
US stock futures edged higher early Friday, putting the major averages on track for weekly gains. The week brought a CEO exit, a bond sell-off and a hot inflation reading.
Dow futures rose 0.1%, S&P 500 futures gained 0.2% and Nasdaq-100 futures climbed 0.1%. The Dow contract traded near 52,424, while the S&P 500 contract was near 7,626.
Futures trade before the regular session opens and show early market expectations.
Stocks slipped on Thursday, with the Nasdaq down 0.39%, the Dow down 0.36% and the S&P 500 down 0.35%. Even so, all three indexes are ahead for the week.
Thursday’s drop followed a bond sell-off driven by rising oil prices. Chip stocks also came under pressure.
Indexes Still Higher for the Week
Through Thursday’s close, the Nasdaq is up 3.2% for the week. The S&P 500 is ahead 2.9%, and the Dow is up 2.0%.
Those gains are measured before Friday’s session begins. They came even as investors dealt with a string of shocks.
Tuesday’s consumer inflation report came in hotter than expected. Fed officials also sounded hawkish afterward, which put a 50-basis-point rate hike in December back on the table.
Traders are now bracing for a rate increase next month. New York Fed President John Williams is set to speak later today, and investors will look for clues on the path ahead.
Producer prices for October are due at 8:30 a.m. Eastern time. The report measures wholesale inflation and will show whether price pressures are still building.
Nvidia Leadership Change Rattles Chip Stocks
Nvidia CEO Jensen Huang stepped down this week. Chief Financial Officer Colette Kress is stepping in to lead the company.
BREAKING: Jensen Huang reportedly had an “intimate relationship” with a second Nvidia, $NVDA, employee, per Reuters.
This marks the third alleged affair for the now-former Nvidia CEO.
— The Kobeissi Letter (@KobeissiLetter) November 12, 2026
Nvidia shares fell 4.3% on Thursday as the news spread. The stock rose about 2.6% in early trading Friday.
Other chipmaker stocks fell further in premarket trading. Nvidia reports third quarter earnings on Tuesday.
James Demmert, chief investment officer at Main Street Research, said the worst is most likely behind Nvidia. He expects the earnings call to help restore investor confidence.
CoreWeave also posted strong earnings this week. An AI-driven rally was then cut short by the inflation data and a jump in bond yields.
The 10-year Treasury yield hit 5.10% on Thursday, its highest level since October. A spike in oil prices, tied to renewed US-Iran tensions, helped drive the bond sell-off.
The yield reflects what investors demand to lend to the government. A higher yield can weigh on growth stocks, which include many tech names.
Oil prices were little changed on Friday. That gave markets some relief after a spike in crude prices set off Thursday’s bond sell-off.
Early Friday, Nasdaq-100 futures were near 28,397, up 0.1%. Investors now turn to the producer price report and Williams’ remarks.
