Wall Street Rebounds as Energy Shares Climb Despite Nvidia’s 4.2% Drop
Updated
Updated · Reuters · Nov 12
Wall Street Rebounds as Energy Shares Climb Despite Nvidia’s 4.2% Drop
3 articles · Updated · Reuters · Nov 12
Summary
By 11:38 a.m. ET, the Dow rose 0.24%, the S&P 500 gained 0.17% and the Nasdaq added 0.14%, reversing earlier weakness as oil-driven energy stocks offset fresh Nvidia turmoil.
Energy shares jumped 1.3% after oil prices rose on President Donald Trump’s remark that the U.S. did not need a deal with Iran, helping lift eight of the S&P 500’s 11 sectors.
Nvidia fell 4.2% after CEO Jensen Huang’s exit deepened doubts about AI demand and customer financing, even as retail traders bought a record $111 million of the stock in the opening half-hour.
The AI ripple spread unevenly: Nebius sank 17%, CoreWeave lost about 6%, and other data-center names fell, while AMD and Broadcom each climbed more than 6% and several megacaps gained over 1%.
Friday’s producer-price report is now the next market test after a hot CPI reading, with traders fully pricing a December Fed hike and assigning about an 8% chance of a 50-basis-point move.