M Alfathan Rahman
M Alfathan Rahman
Nvidia trades a second session without Jensen Huang tonight, as the market waits for US producer inflation data.
US stocks closed lower on Thursday. The S&P 500 and the Nasdaq Composite each fell about 0.4%, and the Dow lost almost 190 points, according to CNBC.
Nvidia led the decline after the company announced that Jensen Huang had stepped down as CEO. AMD and Broadcom each rose more than 5%.
| Stock | Movement | What to Watch |
|---|---|---|
| NVDA | Down 4.34% to $166.19 on Thursday, then $167.82 after hours | A second session under interim CEO Colette Kress, ahead of earnings on Nov. 17 |
| AMD | Up 5.86% to $585.30 on Thursday, then $582.90 after hours | Whether the gains hold as investors move money out of Nvidia |
| CSCO | Up 1.24% to $102.01 on Thursday, then $101.70 after hours | The first session after fiscal Q1 2027 results and a raised full-year outlook |
| AMAT | Down 3.58% to $380.95 on Thursday, then $383.83 after hours | The first session after record Q4 revenue and its next-quarter outlook |
Source: closing and after-hours prices (8 p.m. New York time) from Nasdaq.
Huang resigned as Nvidia's president, CEO and board member, effective immediately, according to the company's announcement. CFO Colette Kress is interim CEO while the board searches for a permanent successor.
Nvidia (NVDA) fell more than 13% early in the session and hit a 52-week low before paring most of the loss, according to CNBC. Several Wall Street analysts lowered their views on the stock after the announcement. Nvidia still plans to report earnings on Nov. 17. More in our Nvidia story.
Senate Banking Committee Chairman Tim Scott also asked Huang and Commerce Secretary Howard Lutnick to testify, according to Reuters.
The October Producer Price Index is due at 8:30 a.m. ET, according to the BLS schedule. Economists polled by Dow Jones expect PPI to rise 0.4% from September and 6.6% from a year earlier, according to CNBC.
The data follows a hotter-than-expected October consumer price report. Traders fully price a quarter-point Fed rate hike next month, according to Bloomberg.
Cisco (CSCO) reported fiscal first-quarter revenue of $18.5 billion, up 24%, and non-GAAP EPS of $1.40, according to its release. Both beat LSEG estimates of $18.1 billion and $1.33, according to CNBC. Cisco raised its full-year revenue outlook to $74.8 billion to $75.8 billion.
Applied Materials (AMAT) reported record fourth-quarter revenue of $10.41 billion, up 53%, according to its release. It forecast next-quarter revenue of about $11.10 billion, above the LSEG consensus of $10.89 billion, according to Reuters.
Dow futures rose 0.3%, S&P 500 futures 0.4% and Nasdaq 100 futures 0.6% on Thursday evening in New York, according to CNBC.
After hours on Thursday, Modine Manufacturing jumped more than 29% after Bloomberg reported that Samsung is in talks to buy the data center cooling company, according to CNBC.
Tonight the market tests whether pressure on Nvidia continues without Huang, while the PPI data shapes expectations for the Fed's next move. Cisco and Applied Materials results give a read on demand for networking gear and chip equipment.
US markets open at 9:30 a.m. ET, an hour after the PPI data.
This article is for education and information only and is not investment advice. Investment decisions are yours to make after your own research.
What stocks are you watching tonight?
Disclaimer
Gotrade is the trading name of Gotrade Securities Inc., which is registered with and supervised by the Labuan Financial Services Authority (LFSA). This content is for educational purposes only and does not constitute financial advice. Always do your own research (DYOR) before investing.
Welcome Reward up to $1,888
Create an account and trade US stocks on Gotrade
*Terms & conditions apply
