GLOBAL MARKETS-Stocks recover from Nvidia whiplash, dollar climbs with US yields
- On Thursday, Nvidia CEO Jensen Huang resigned following reports of extramarital affairs, including one involving a suspected Chinese spy, plunging the chipmaker into crisis.
- Nvidia shares fell 3% in extended trading on Friday, while customers like South Korea's Naver extended declines 2.75%; Citi analysts said competitors such as AMD, Arista, and Broadcom could benefit.
- Senate Banking Committee Chairman Tim Scott sent letters Thursday to Commerce Secretary Howard Lutnick and Huang, asking them to testify over recent Nvidia developments.
- JPMorgan analysts warned, "His departure leaves a vacuum that will be difficult to fill," noting new deals could require more compensation to reassure investors about Nvidia's role.
- US Treasury yields climbed to one-month highs as investors weighed a 50-basis-point Federal Reserve rate hike next month, with the CME FedWatch tool showing a 14.5% chance.
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14 Articles
Japanese chip values in particular can increase on Friday. At the same time, potential interest rate increases in the US and political uncertainties in Japan are becoming the focus of investors.
Stocks recover from Nvidia whiplash, dollar climbs with US yields - Regional Media News
By Rae Wee SINGAPORE, Nov 13 (Reuters) - Stocks in Asia were on steadier footing on Friday after a turbulent week dominated by revelations of extramarital affairs involving Nvidia CEO Jensen Huang that culminated in his resignation, in a blow to the global AI boom [...]
Stocks recover from Nvidia whiplash, dollar climbs with US yields
By Rae Wee SINGAPORE, Nov 13 (Reuters) - Stocks in Asia were on steadier footing on Friday after a turbulent week dominated by revelations of extramarital affairs involving Nvidia CEO Jensen Huang that culminated in his resignation, in a blow to the gl...
Asian Stocks to Edge Higher After Nvidia Shakeup: Markets Wrap
(Bloomberg) -- Asian stocks looked set to follow US equity futures higher as investors weighed the fallout from Nvidia Corp.’s leadership upheaval on the broader artificial-intelligence trade against rising oil prices and Treasury yields.
Futures Rise; Stocks Weather Nvidia, Yields
The stock market held up well given Nvidia CEO Jensen Huang's exit, surging yields and more. Cisco led key earnings reports late. The post Dow Jones Futures Rise After Market Weathers Nvidia CEO Huang's Exit, Surging Yields; SpaceX-Tesla Merger Deal Close appeared first on Investor's Business Daily.
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