Stock market today: Nasdaq surges despite Nvidia stock slide, Dow and S&P 500 rally as AI tech trade rises Grace O'Donnell , David Hollerith and Ines Ferré Updated Mon, November 9, 2026 at 4:06 PM EST 1 min read ^IXIC +2.74% ^DJI +2.15% NVDA -4.01% ^GSPC +2.35% Trade NVIDIA on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
US stocks surged on Monday as the AI trade remained in focus ahead of a busy week of earnings and inflation data.
The Dow Jones Industrial Average (^DJI) rose 2.2%, while the S&P 500 (^GSPC) gained 2.3%. The Nasdaq Composite (^IXIC) climbed about 2.7% after all three indexes posted losses last week.
All eyes were on the artificial intelligence trade following a volatile post-election market shake-up and the revelation that Nvidia's (NVDA) board is opening an investigation into CEO Jensen Huang over his affair.
Several news outlets reported last week that the US believes Huang had a romantic relationship with Alice Huang, a Chinese businesswoman who is alleged to have been recruited to spy for China's intelligence agency. In a memo to employees, Huang admitted to marital infidelity, stating, "I was unfaithful to my wife. My actions hurt her and our children. There is no excuse for what I did. I am deeply sorry."
Go deeper with AlphaSpace 52,389.75 +1,104.02 (+2.15%) At close: 4:20:01 PM EST ^DJI ^GSPC ^IXIC Nvidia stock trimmed losses, falling 4% Monday. Broader stock indexes shrugged off the news as they continue to recover from a bruising sell-off last Thursday.
Helping buoy stocks, last week's slide in energy prices continued Monday with Brent Crude Futures (BZ=F) falling to around $91 per barrel.
The biggest swell of third quarter earnings results is in the books, with just a few more weeks in the reporting season. On Monday, Hims and Hers (HIMS), Rocket Lab (RKLB), and Monday.com (MNDY) were among the companies sharing earnings.
The week starts off with light economic data, with wholesale trade data serving as the primary report.
US stocks surged on Monday as the AI trade gained steam, without participation from AI chip heavyweight Nvidia (NVDA).
The Dow Jones Industrial Average (^DJI) rallied almost 2.2%, or roughly 1,100 points. The S&P 500 (^GSPC) gained 2.3%. The Nasdaq Composite (^IXIC) climbed roughly 2.7%.
Shares of Nvidia (NVDA) dropped about 4%, trimming early session losses of about 8% after the chip maker's board said it was opening an investigation into CEO Jensen Huang over his affair.
Elsewhere in the semiconductor complex, chip-related stocks soared, led by AMD (AMD), which bounced 12% after an upgrade to Buy from Oppenheimer analysts.
Go deeper with AlphaSpace 178.67 -7.97 (-4.27%) At close: 4:00:00 PM EST 179.15 +0.48 (+0.27%) After hours: 4:49:40 PM EST Today at 8:13 PM UTC David Hollerith October inflation data is expected to be cooler, helped by steadying energy prices October inflation data coming on Tuesday is expected to show that inflation cooled somewhat from September's elevated levels but remains sticky, Yahoo Finance's Claire Boston reports:
Economists surveyed by Bloomberg expect the Consumer Price Index to rise 0.3% in October compared to a month earlier, a far slower pace than September's 0.6% gain. Core inflation, which strips out volatile food and energy prices, is seen rising 0.2%, down from 0.3% a month earlier.
October's report is unlikely to include annual inflation figures because the Bureau of Labor Statistics was unable to publish full October 2025 data due to the government shutdown last year. But some economists estimate that inflation accelerated slightly on a year-over-year basis.
Bitcoin (BTC-USD) tumbled below $75,000 on Monday as the cryptocurrency extended declines from last week.
The world's largest cryptocurrency fell 1%, extending steep declines from the prior week after Democrats swept over Congress in the mid-terms.
Elon Musk appeared to confirm on Monday that groundbreaking has begun for Tesla's $10 billion solar cell manufacturing factory in Texas, less than a week after Democrat Gina Hinojosa won the state's gubernatorial election.
Writing in response to posts by a widely followed Musk-sphere blogger that claimed to show images of groundbreaking at the proposed factory site, Musk said, "Project Crystal Sun."
The site, located in Fort Bend County, Texas, is expected to hold a massive solar cell manufacturing complex to make solar panels and other components, per documents filed with the Texas Comptroller of Public Accounts. Tesla is looking to have the factory operational by the first quarter of 2029, with a capital investment of $10.1 billion, the company told the Texas Comptroller.
The update comes as questions swirl around Musk's extensive business ties in Texas after wins by Governor-elect Hinojosa and Senator-elect James Talarico, the latter race in which Musk spent hundreds of millions of dollars on the unsuccessful bid of former state Attorney General Ken Paxton.
SpaceX has invested more than $3 billion into Starbase and the nearby Starship launch infrastructure, while Tesla has reported construction costs of more than $1 billion for its Gigafactory production site in Austin. In August, SpaceX and Tesla laid out a joint plan to spend $16.8 billion building a "Terafab" semiconductor production facility in Grimes County.
If both planned projects come to fruition, Musk's infrastructure investments alone in the Lone Star State could total more than $30 billion.
Hims and Hers (HIMS) stock is sinking ahead of the company's third quarter earnings, scheduled for after the closing bell.
The stock fell 10% as short interest in the stock hovered around 23%, per S&P Global Market Intelligence data.
On Friday, the company announced it reached an agreement with Eli Lilly (LLY) to expand access to Lilly's Zepbound and Foundayo GLP-1 drugs through Hims and Hers health platform.
Wall Street analysts expect Hims and Hers to report adjusted earnings per share of $0.15 after two straight quarters of losses after the bell. Revenue is expected to come in at $892.7 million.
NASA wants a base on the moon, and Wall Street is suddenly buying the ride there.
Space stocks are ripping for a second session as SpaceX (SPCX) and seven other companies line up for lunar delivery work worth up to $10 billion.
NASA named the eight winners on Nov. 7 at Kennedy Space Center. Alongside SpaceX and Blue Origin are three smaller public companies, Intuitive Machines (LUNR), Firefly Aerospace (FLY) and Voyager Technologies (VOYG).
For those three, the prize is out of this world. They're worth about $8.5 billion combined, less than the contract's ceiling, though each still has to win missions one by one.
Commercial Lunar Payload Services (CLPS) is NASA's way of hiring private companies to fly cargo to the moon. The new 10-year version covers larger landers, and NASA raised the original contract's value from $ 2.6 billion to $ 4.2 billion. Intuitive Machines CEO Steve Altemus said the company is "excited to participate in this next evolution of CLPS."
"We are building the Moon Base mission by mission," NASA Administrator Jared Isaacman said in the agency's announcement.
Rocket Lab (RKLB) didn't make NASA's list but is jumping ahead of reporting its third quarter results after Monday's close. The stock is on track for a two-day gain of nearly 30%, its third-best run in two years, according to Yahoo Finance calculations.
Tesla (TSLA) will have to refund some buyers a deposit placed on Cybertrucks. This comes as the company was sitting on a significant amount of unsold supply only last year.
In a post made early Monday morning, CEO Elon Musk wrote, "Cybertruck order rate far exceeds our production rate. We will try to make as many as possible before shutting down the line in about 8 months, but will have to return deposits for a lot of people."
The news comes after Musk announced late last week that Cybertruck production would end in the middle of next year in order to focus on Cybercab - Tesla's robotaxi - production.
For many in the industry, ending Cybertruck production wasn't a surprise. Musk once boasted that Cybertruck demand was "so far off the hook, you can't even see the hook," and the company said it had over 1 million preorders.
Gas prices just fell for a sixth straight week but Thanksgiving drivers are still on track to pay more than ever, Yahoo Finance's Jared Blikre reports:
Regular gas averaged $4.01 a gallon on Monday, according to AAA. That's down about 10% from its latest peak of nearly $4.48 in late September, based on US Energy Information Administration data.
Wholesale prices have fallen about twice as fast. Gasoline futures (RB=F) slid about 21% from Sept. 18 through Friday's close, as oil (CL=F) dropped about 20% from its April high.
Pump prices have typically run about $1 per gallon above futures prices. Based on Friday's close, that points to roughly $3.70 to $3.80 a gallon, or another 20 to 30 cents of relief, by Yahoo Finance calculations.
Nvidia (NVDA) stock may be down, but the rest of the market is broadly having an up day.
Tech stocks and industrial stocks led a comeback on Monday following a tumultuous week that saw the three major averages decline.
Chip-related stocks, including AMD (AMD), Micron (MU), and ASML (ASML), surged. The rest of the "Magnificent Seven" stocks, excluding Nvidia, gained. Tesla (TSLA) led that group, up 5% in morning trading.
US stocks opened higher Monday as Wall Street looked to rebound from last week's sharp sell-off, while investors weighed fresh uncertainty surrounding 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%.
Go deeper with AlphaSpace 52,389.75 +1,104.02 (+2.15%) At close: 4:20:01 PM EST ^DJI ^GSPC ^IXIC The gains followed a volatile post-election week that saw investors dump AI and chip 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 looking ahead to fresh inflation data this week for clues about the Federal Reserve's next move on interest rates. Oil prices continued to slide Monday with Brent Crude Futures (BZ=F) hovering below $94 per barrel.
Nvidia (NVDA) stock fell more than 5% before the bell on Monday after the chipmaker's board announced it would investigate the relationship between CEO Jensen Huang and a woman whom the intelligence community believes could be a Chinese Spy.
In a Sunday memo to employees, Nvidia CEO Jensen Huang admitted to an extramarital affair, apologizing to his family and staff while pledging full cooperation with an independent board review. Wall Street analysts quickly flagged the heightened 'key-person risk' for the world's leading AI chipmaker.
A look across the semiconductor sector showed the risk damage was largely contained to Nvidia.
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 bespoke semiconductors, called tensor processing units, or TPUs, according to Bloomberg.
Google chip chief Amin Vahdat told Bloomberg that the company configured its 8tx and 8i Max TPUs to complete tasks customers requested, such as handling confidential information and running AI applications that require long-context windows.
Go deeper with AlphaSpace 178.67 -7.97 (-4.27%) At close: 4:00:00 PM EST 179.15 +0.48 (+0.27%) After hours: 4:49:40 PM EST NVDA GOOGL Today at 12:47 PM UTC Jared Blikre Jensen Huang just handed Wall Street its first $4.5 trillion CEO scandal Wall Street has priced plenty of CEO scandals. It has never priced one at a company worth $4.5 trillion that makes up 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, whom US intelligence officials believe worked for China's Ministry of State Security. "I was unfaithful to my wife," he wrote. The board has opened an independent investigation.
The scale is hard to overstate. At Friday's close, Nvidia was worth about four times the nine biggest companies ever hit by CEO personal-conduct scandals combined, by Yahoo Finance calculations. The largest, Intel (INTC), was worth $249 billion when Brian Krzanich resigned in 2018 over a past consensual relationship with an employee. Nvidia is about 18 times that.
This is key-person risk — the danger that a company's value rests on one person — at its most extreme. Huang co-founded Nvidia in 1993 and has run it ever since, with no named successor.
Adjust for a bigger stock market, and the gap narrows but doesn't close. No earlier scandal-hit company made up more than about 1% of the S&P 500, a mark only Intel in 2018 and HP (HPQ) in 2010 reached. Nvidia is about seven times that.
Yahoo Finance's Ethan Wolff-Mann writes in today's Morning Brief newsletter:
What's more important: the chip and AI infrastructure trade or the companies that actually provide AI?
As we wrote in the Morning Brief on Friday, "A data center slowdown is bad for the stock market's AI engine," and "A data center slowdown is good for Big Tech's profit machine."
Can Google (GOOG, GOOGL), Microsoft (MSFT), and Amazon (AMZN) deliver AI at least some productivity and tools to clients with the compute they have — and make a lot of money doing so, flipping the switch from growth and scale to monetization?
Maybe! Those companies are healthily in the green since the election, doing just fine amid the broader sell-off. And while Tesla (TSLA) has sold off, SpaceX (SPCX) is mostly doing fine.
As DataTrek's Nicholas Colas wrote on Thursday, you need to look at the entire week, not just the bloody Thursday, to see the bigger picture (small as that is). And it's pretty clear that this may be reflected in the broad indexes, but it's mostly about chips.
"As for what the market is 'saying' over the last 2 days, we believe the moves are AI-centric, not augurs of a looming recession," Colas wrote, also noting that Google and Co. are doing fine.
Yahoo Finance's Ines Ferré and Daniel Howley report:
Nvidia's (NVDA) board is launching an independent investigation into reports that a woman CEO Jensen Huang was having an affair with was allegedly spying on him for the Chinese government.
In an email to employees Sunday, Huang admitted to having an extramarital affair.
… The revelations come after reports of ties between Huang and a woman believed to be passing information to the Chinese government.
Last month, the New York Times reported the US intelligence service believed a Chinese national named Alice Huang, a former leader at Megaspeed, an Nvidia chip customer, and someone with a well-documented relationship with Huang himself, may have acted as an intelligence asset, sharing information with the ruling party in Beijing.
Yorkville Ives partner and senior managing director Dan Ives wrote in a note to investors on Sunday that the investigation is a "black eye" for Huang and will likely spark multiple congressional investigations.
"The key question investors will be asking is: Will Jensen remain CEO of Nvidia?…. The investigation will be key, and we would expect Jensen to continue in his role as CEO with no interruption in the near-term," Ives wrote.
Economic data: New York Fed's Consumer Inflation Expectations for October (previous 3.9%), Wholesale Inventories for September
Earnings calendar: 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)
Catch up on some top stories from over the weekend:
Nvidia's board launches investigation into CEO Jensen Huang's affair with an alleged Chinese spy
The October jobs report just gave the Fed a new reason to hike rates
Anthropic's IPO dilemma after the AI sell-off: 'Damned if you do, damned if you don't'
Wall Street hiring helps lift finance jobs in October
Tech stocks are now cheaper than the S&P 500 for the first time since 2017 — here's what history says comes next
Trump backs Nvidia CEO after he admits affair with suspected spy
Golf carts are having a moment. So is this $15K Fiat.
