Nvidia shares slide for extended trading on Wednesday evening after reports about CEO Jensen Huang and the company board shake the market. Nasdaq-100 futures wey dey follow tech stocks lose 1 percent, S&P 500 futures fall 0.4 percent, while Dow Jones Industrial Average futures barely move.
New York Times report say Jensen Huang get extramarital relationship with one executive for the company. Wall Street Journal also report say Nvidia board dey gear up to remove Jensen Huang from him post. Nvidia shares bin down around 8 percent in extended trading as selling continue after the reports.
Earlier for regular trading, Dow Jones Industrial Average rise nearly 255 points, or 0.5 percent. S&P 500 advance 1.3 percent, and Nasdaq Composite jump 1.6 percent. CoreWeave post-earnings advance and Nvidia rebound drive the gains. Investors dey weigh whether the artificial intelligence-driven rally still get room to run after recent Nvidia weakness, while CoreWeave better-than-expected results and raised revenue outlook support the longer-term growth story ahead of Thursday session.
AI enthusiasm fit still drive market, with added momentum from Anthropic upcoming IPO. But Sameer Samana, head of global equities and real assets at Wells Fargo Investment Institute, talk say make investors dey circumspect about the bounce-back. He point to stubborn inflation, more Fed rate hikes, higher long-term interest rates, change in configuration in Washington DC and AI/data center regulation demands. Callie Cox, director of investment strategy at Plancorp, talk say stock market dey locked in fierce battle between hope of AI and fear around interest rates and inflation.
Investors dey look to upcoming economic data for more clues on inflation, labor market and broader outlook. On Thursday, market go get initial jobless claims at 8:30 a.m., followed by existing home sales at 10 a.m. Asia-Pacific markets set to open mixed. Japan Nikkei 225 futures for Chicago stand at 61,760, while Osaka last at 62,020, compared with previous close of 61,248.59. Hong Kong Hang Seng futures last trade at 24,107 compared with close of 24,315.92. Australia S&P/ASX 200 down 0.31 percent in early trade.
