Stock Market Today: Dow, S&P 500, Nasdaq Rise with Nvidia Stock, AI Business in Focus

U.S. stocks rose Monday as AI trading remained in focus ahead of a busy week of earnings and inflation data.

The Dow Jones Industrial Average (^DJI) rose 1.7%, while the S&P 500 (^GSPC) gained 2.1%. The Nasdaq Composite (^IXIC) climbed 2.6% after all three indexes posted losses last week.

All eyes were on the artificial intelligence business following post-election market turmoil and the revelation that Nvidia’s (NVDA) board was opening an investigation into CEO Jensen Huang over his affair.

Multiple media outlets reported last week that the United States believed Huang was romantically involved with Alice Huang, a Chinese businesswoman who was allegedly recruited to spy for Chinese intelligence services. In a memo to employees obtained by the FT, Huang admitted to marital infidelity, saying: “I have been unfaithful to my wife. My actions hurt her and our children. There is no excuse for what I did. I am deeply sorry.

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At 11:09:10 a.m. EST. Open market.

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Nvidia stock fell as much as 8% on Monday, before sales slowed. Broader stock indexes appeared to shrug off the news as they continue to recover from a selloff last Thursday.

Last week’s decline in energy prices continued on Monday, with Brent crude futures (BZ=F) hovering at $95 per barrel.

The biggest jump in third-quarter results is in the books, with only a few weeks left in the reporting season. On Monday, Hims and Hers (HIMS), Rocket Lab (RKLB) and Monday.com (MNDY) were among the companies sharing profits.

The week begins with light economic data, with wholesale trade data serving as the main report.

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Tech stocks rebound, driven by chip names
Nvidia (NVDA) stock may be down, but the rest of the market is having an up day overall.
Technology and industrial stocks led their comeback on Monday after a tumultuous week that saw all three major averages fall.
Chip-related stocks including AMD (AMD), Micron (MU) and ASML (ASML) surged. The rest of the “Magnificent Seven” stocks, excluding Nvidia, rose. Tesla (TSLA) led this group, up 5% in morning trading.
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US stocks open higher as Wall Street expects AI rebound
U.S. stocks opened higher on Monday as Wall Street looked to rebound from last week’s sharp selloff, while investors weighed new uncertainties over AI giant Nvidia (NVDA).
The Dow Jones Industrial Average (^DJI) rose 1%, while the S&P 500 (^GSPC) gained 0.9%. The tech-heavy Nasdaq Composite (^IXIC) rose 0.8%.

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The gains follow a volatile post-election week in which investors dumped AI and microchip stocks, sending the Nasdaq into correction territory before a partial recovery Friday.
Nvidia shares fell 6% after reports of a board investigation involving CEO Jensen Huang added to uncertainty surrounding the chipmaker.
Meanwhile, investors are eagerly awaiting new inflation data this week for clues about the Federal Reserve’s next interest rate decision. Oil prices continued to fall on Monday, with Brent futures (BZ=F) trading below $94 per barrel.
Nvidia stock falls 5% as chipmaker investigates CEO Huang
Nvidia (NVDA) stock fell more than 5% before the bell Monday after the chipmaker’s board said it would investigate the relationship between CEO Jensen Huang and a woman the intelligence community believes may be a Chinese spy.
In a memo to employees on Sunday, Nvidia CEO Jensen Huang admitted to having an extramarital affair, apologizing to his family and staff while pledging to cooperate fully with an independent review board. Wall Street analysts were quick to point out the “heightened key person risk” for the world’s top AI chip maker.
A review of the semiconductor industry showed that the risk of damage was largely limited to Nvidia.
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Alphabet announces 2 new chips as competition with Nvidia heats up
Alphabet (GOOG, GOOGL) announced two new AI chips on Monday aimed at challenging Nvidia’s (NVDA) dominance and adapting to the new era of AI agents.
Google stock rose nearly 3% in premarket trading. The Big Tech giant unveiled two versions of its custom-built semiconductors, called tensor processing units, or TPUs, according to Bloomberg.
Google chip chief Amin Vahdat told Bloomberg that the company has configured its 8tx and 8i Max TPUs to perform tasks requested by customers, such as handling confidential information and running AI applications that require long context windows.

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Jensen Huang Just Gave Wall Street His First $4.5 Trillion CEO Scandal
Wall Street has taken notice of many CEO scandals. He never priced it in a company worth $4.5 trillion, which represents nearly 7% of the S&P 500 (^GSPC).
Nvidia (NVDA) CEO Jensen Huang admitted in a Nov. 8 memo to employees to an affair with Alice Huang, who U.S. intelligence officials said worked for China’s Ministry of State Security. “I have been unfaithful to my wife,” he wrote. The council has launched an independent investigation.
It is difficult to exaggerate the magnitude. As of Friday’s close, Nvidia was worth about four times the nine largest companies ever hit by CEO personal conduct scandals combined, according to calculations by Yahoo Finance. The largest, Intel (INTC), was worth $249 billion when Brian Krzanich resigned in 2018 due to a past consensual relationship with an employee. Nvidia is about 18 times better.
This is key person risk – the danger that a company’s value rests on a single person – in its most extreme form. Huang co-founded Nvidia in 1993 and has led it ever since, with no designated successor.
Adjust for a larger stock market and the gap narrows but does not close. No previously scandal-hit company accounted for more than about 1% of the S&P 500, a mark that Intel in 2018 and HP (HPQ) in 2010 reached. Nvidia is about seven times better.
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2 Big AI Narratives Continue to Fight for Market Control
Yahoo Finance’s Ethan Wolff-Mann writes in today’s Morning Brief newsletter:
Which is more important: the business of AI chips and infrastructure or the companies that actually provide AI?
As we wrote in the Morning Brief on Friday: “A slowdown in data centers is bad for the stock market AI engine” and “A data center slowdown is GOOD for the Big Tech profit machine. »
Can Google (GOOG, GOOGL), Microsoft (MSFT) and Amazon (AMZN) deliver AI at least some productivity and tools to customers with the compute they have – and make a lot of money doing so, moving from growth and scale to monetization?
Maybe! These companies have been in the green since the elections and are doing very well in a context of widespread liquidation. And while Tesla (TSLA) has sold off, SpaceX (SPCX) is generally doing well.
As DataTrek’s Nicholas Colas wrote on Thursday, you need to look at the entire week, not just Bloody Thursday, to see the big picture (no matter how small). And it’s pretty clear that this can be reflected in the general clues, but it’s mostly bullet points.
“As for what the market is saying over the past two days, we believe the moves are AI-centric and not omens of an impending recession,” Colas wrote, also noting that Google and Co. are doing well.
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Nvidia board opens investigation into CEO Jensen Huang’s affair with suspected Chinese spy
Report Ines Ferré and Daniel Howley from Yahoo Finance:
Nvidia’s (NVDA) board is launching an independent investigation into reports that a woman CEO Jensen Huang allegedly had an affair with spied on him for the Chinese government.
In an email to employees on Sunday, Huang admitted to having an extramarital affair.
… These revelations follow reports of links between Huang and a woman suspected of passing information to the Chinese government.
Last month, the New York Times reported that U.S. intelligence believed that a Chinese national named Alice Huang, a former Megaspeed executive, Nvidia chip customer and someone with a well-documented relationship with Huang himself, may have acted as an intelligence agent, sharing information with Beijing’s ruling party.
Dan Ives, partner and senior managing director at Yorkville Ives, wrote in a note to investors Sunday that the investigation constitutes a “black eye” for Huang and will likely trigger several congressional investigations.
“The key question investors will be asking is: Will Jensen remain CEO of Nvidia?….The investigation will be critical and we expect Jensen to continue in his role as CEO without interruption in the near term,” Ives wrote.
Learn more.
Good morning. Here’s what’s happening today.
Economic data: New York Fed consumer inflation expectations for October (previously 3.9), wholesale inventories for September
Earnings schedule: Constellation Energy (CEG), KKR (KKR), Barrick Mining (B), Occidental Petroleum (OXY), Skydance (SKYD), Take-Two Interactive Software (TTWO), NRG Energy (NRG), Kaspi.kz (KSPI), Paramount Skydance (PSKY), Praxis Precision Medicines (PRAX), Sanmina (SANM), Clearway Energy (CWEN), Qualys (QLYS), H&R Block (HRB), Ionis Pharmaceuticals (IONS), Casella Waste Systems (CWST), The Trade Desk (TTD), Hims & Hers Health (HIMS), NexGen Energy (NXE), monday.com (MNDY), Archer Aviation (ACHR), Via Transportation (VIA), USA Rare Earth (USAR), Plug Power (PLUG), Lucid Group (LCID), Trump Media & Technology Group (DJT)
Check out some of the most notable news from the weekend:
Nvidia board opens investigation into CEO Jensen Huang’s affair with suspected Chinese spy
The October jobs report just gave the Fed another reason to raise rates
Anthropic’s IPO dilemma after AI sale: ‘Damned if you do, damned if you don’t’
Wall Street hiring helps create finance jobs in October
Tech stocks are now cheaper than the S&P 500 for the first time since 2017 – here’s what the story says next
Trump supports Nvidia CEO after admitting affair with alleged spy
Golf carts are having a moment. Same goes for this $15,000 Fiat.