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NEW YORK – U.S. stock futures were higher ahead of Monday’s market open on November 9, while Nvidia shares were down about 6% in premarket trading following the company’s announcement of an independent investigation into reports that chief executive Jensen Huang was targeted by a foreign intelligence effort. The split left investors facing a stronger broad-market indication alongside a sharp move in a major chip stock.
CME’s December E-mini Dow contract, YMZ6, was around 51,880, up about 1.0%, when checked at about 7:22 a.m. Eastern time. December E-mini S&P 500 futures, ESZ6, were around 7,446, up about 0.6%, and December E-mini Nasdaq-100 futures, NQZ6, were around 27,219, up about 0.5%. The Dow, S&P and Nasdaq-100 quotes are delayed by at least 10 minutes, according to CME, and are not the cash indexes’ opening levels.
Nvidia was around $175.50, down approximately 6%, in Nasdaq’s premarket quote at 7:21 a.m. Eastern time. The page showed a prior regular-session close of $186.64 on November 6. The early price is a time-stamped snapshot, not a prediction of where shares will open or finish Monday.
Nvidia’s board statement, dated November 8, says a committee of independent directors, assisted by outside independent counsel, will oversee the investigation. The board said it has no reason to believe national security or Nvidia secrets were compromised, said Huang supports and will cooperate with the review, and expressed confidence in him and his leadership team. The statement did not announce his departure or a finding of wrongdoing.
Oil was also lower in a separate early snapshot. CME’s December West Texas Intermediate contract was $88.59 a barrel, down 2.47%, when its delayed quote page was checked at about 7:09 a.m. Eastern time. That is not a current gasoline price or evidence that diplomatic efforts have succeeded.
The next scheduled U.S. inflation reading is October’s Consumer Price Index on Tuesday, November 10, at 8:30 a.m. Eastern time, according to the BLS schedule. The report has not yet been released. Its results will provide a new reading of consumer-price changes rather than settle in advance how investors or policymakers will respond.
For households with retirement savings, the difference between index futures and one stock’s premarket decline matters. A diversified fund’s result depends on what it owns and how much of each holding it carries. Neither the futures gains nor Nvidia’s decline establishes the return on an individual 401(k), and the early moves can change before the regular session begins.
Lower crude can ease one input into fuel costs, but the EIA says taxes, refining, distribution and local market conditions also shape retail gasoline prices. The morning oil quote therefore does not establish a saving at a particular filling station or a timetable for one.
What remains unknown is whether the broad futures gains will last through the open, where Nvidia will trade during the regular session, and what the board’s investigation will find. Tuesday’s inflation figures are another unresolved input. This morning’s prices show the starting conditions, not those outcomes.
JBizNews Desk | Wall Street
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